SECURED CONSTRUCTION PROMISSORY NOTESecured Construction Promissory Note • December 21st, 2012 • Lakes Entertainment Inc • Services-miscellaneous amusement & recreation • Arkansas
FOR VALUE RECEIVED, EVITTS RESORT, LLC (the “Borrower”), hereby covenants and promises to pay to the order of CENTENNIAL BANK (“Lender”), or its successors or assigns, at Lender’s office at 620 Chestnut Street, Conway, Arkansas, 72032, or at such other place as the Lender may designate to the Borrower in writing from time to time, in legal tender of the United States, the sum of SEVENTEEN MILLION, FIVE HUNDRED THOUSAND AND NO/100 Dollars ($17,500,000.00) or such lesser sum as shall have been advanced hereunder pursuant to the Secured Construction Loan Agreement referred to below, along with interest at the Interest Rate as provided herein. The credit relationship evidenced hereby shall be non-revolving in nature.
