UNCONDITIONAL GUARANTYLakes Entertainment Inc • November 3rd, 2008 • Services-miscellaneous amusement & recreation • Arkansas
LYLE BERMAN (the “Guarantor”), hereby requests and authorizes FIRST STATE BANK (“Lender”) to extend credit to LAKES ENTERTAINMENT, INC. (the “Borrower”), an affiliate of the Guarantor, pursuant to the terms and conditions of, among other documents:
SECURED LINE OF CREDIT PROMISSORY NOTELakes Entertainment Inc • November 3rd, 2008 • Services-miscellaneous amusement & recreation • Arkansas
FOR VALUE RECEIVED, LAKES ENTERTAINMENT, INC. (the “Borrower”), does hereby covenant and promise to pay to the order of FIRST STATE 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 Eight Million and No/100 Dollars ($8,000,000.00) or such lesser sum as shall have been advanced hereunder pursuant to the Secured Line of Credit Loan Agreement, along with interest at the Interest Rate as provided herein. The credit relationship evidenced hereby shall be non-revolving in nature.
SECURED LINE OF CREDIT LOAN AGREEMENTCredit Loan Agreement • November 3rd, 2008 • Lakes Entertainment Inc • Services-miscellaneous amusement & recreation • Arkansas
THIS SECURED LINE OF CREDIT LOAN AGREEMENT (“Agreement”) is dated this 28th day of October, 2008, and is entered into by and between LAKES ENTERTAINMENT, INC. (“Borrower”) and FIRST STATE BANK (“Lender”).
MORTGAGE, SECURITY AGREEMENT AND ABSOLUTE ASSIGNMENT OF LEASES AND RENTS (Secures Obligatory Future Advances)Lakes Entertainment Inc • November 3rd, 2008 • Services-miscellaneous amusement & recreation • Arkansas
This MORTGAGE, SECURITY AGREEMENT AND ABSOLUTE ASSIGNMENT OF LEASES AND RENTS (the “Mortgage”) is dated this 28th day of October, 2008, and is executed and entered into by and between LAKES ENTERTAINMENT, INC., with an address of 130 Cheshire Lane, Minnetonka, Minnesota 55305(“Borrower”), in favor of FIRST STATE BANK, or its successors or assigns (“Lender”).
