exv10w7xay



 




Exhibit
10.7(a)



PARCEL II
EXCEPTION #2(B)


C


     Beauregard Building



	 	 	 
	AMENDMENT OF LEASE
	 	UNITED STATES OF AMERICA
	LESSOR: COHN REALTY CO., INC.
	 	STATE OF LOUISIANA
	LESSEE: JAZZ ENTERPRISES, INC.
	 	(Illegible) OF EAST BATON ROUGE






ORIG 387 BNDL 10507




     BE
IT KNOWN, on the dates indicated below, before the undersigned Notaries Public, duly
commissioned and qualified in and for their respective Parishes, State of Louisiana, therein
residing, and in the presence of the undersigned competent witnesses, personally case and appeared:



COHN
REALTY CO., INC., a Louisiana corporation, domiciled in the Parish of East Baton Rouge, herein
represented by its duly authorized and empowered President, Dr. Isidore Cohn, Jr., hereunto duly
authorized by resolution adopted by the unanimous consent of the Board of Directors of such
corporation, a certified copy of which is attached hereto and made a
part hereof (hereinafter called “LESSOR”); and


JAZZ ENTERPRISES, INC., a Louisiana corporation, domiciled in the Parish of East Baton Rouge,
herein represented by its duly authorized and empowered Vice President, Mark A. Bradley, hereunto
duly authorized by resolution adopted by the Board of Directors of such corporation, a certified
copy of which is attached hereto and made a part hereof (hereinafter called “LESSEE”).


     WHEREAS, the LESSOR entered into a lease between LESSOR and Paul M. Due’, Richard J. Dodson,
John W. deGravelles, David W. Robinson and Chester John Caskey, affecting Lots 3, 4 & 5, Square 10,
at the corner of Europe Street and St. James Street, Beauregard Town, East Baton Rouge Parish,
Louisiana, recorded on October 12, 1983, as original 34, Bundle
9612 (the “Lease”); and


-1-









 





     WHEREAS,
Jazz Enterprises, Inc. became the tenant under the Lease by virtue of an Assignment
of Lease date as of August 5, 1993; and



     WHEREAS, LESSOR and LESSEE have agreed to modify the terms of the Lease as provided herein.



     NOW, THEREFORE, the parties hereto hereby enter into this Amendment of Lease to modify in part
the terms and conditions of the Lease, as follows:



     1. Paragraph 5(b) of the Lease be and is hereby amended in its entirety as
follows:




“5. (b) There shall be a reevaluation and increase of the basic annual rent due hereunder as
of August 1 of each 5th year following August 1, (Illegible) (“Base Date”). The first amended
reevaluation and increase of the basic annual rental due hereunder shall be as of August 1,
1993, five years after the Base Date and thereafter a reevaluation and increase shall be as
of August 1 of each fifth year thereafter, all as set forth on Exhibit C attached
hereto. This reevaluation and increase shall be based on the Consumer Price Index (“CPI”),
which is the average of “all items” shown on the “U.S.
City average for urban wage earners
and clerical workers (including single workers) all items, groups, sub-groups, and special
groups of items” as promulgated by the Bureau of the Labor Statistics of the United States
Department of Labor. For each five-year period beginning August 1, 1993, LESSEE shall pay
LESSOR, in addition to the basic annual rent for the proceding five-year period, an amount
equal to the basic annual rent for the proceding five-year period multiplied by the
percentage of increase by which the CPI for the month of May immediately proceding the
beginning of each fifth calendar year excess is the CPI for the month of May immediately
proceding the commencement date of the preceding five-year period
(the “Additional Rent for the Subject Five-year Period”), provided that in no
event shall the adjusted basic annual rent for a new five-year period
exceeds (Illegible) of the
basic annual rent for the proceding five-year period. Accordingly, from and after August 1,
1993, the basic annual rent due for each five-year period shall be the sum of the




-2-










 




basic annual rent for the preceding five-year period plus the Additional Rent for the Subject
Five-Year Period. If the May CPI is not available as of the beginning of any five-year period,
LESSEE shall in good faith estimate the CPI and pay rental based on that estimate until the CPI is
available, at which time the rental for the remainder of that five-year period shall be permanently
adjusted and any difference in amounts paid based on the estimated CPI shall be promptly paid by
lesser or refunded by LESSOR. No change in the CPI shall reduce the basic annual rent for a new
five-year period below the basic annual rent for the preceding five-year period. In the event that the Bureau of Labor Statistics shall change the base
period (now 1982-84) and commence a new series of index numbers after
this Lease commences, then the new index numbers may be used provided the index number for the month prior to the
commencement date of this Lease is adjusted to reflect its true relationship with the index numbers
under the new base period. For example, if the Bureau of Labor Statistics would have determined to
change the base year and commence a new series of index numbers starting at 100 when the consumer
price index under the 1982-84 base year reached 300, then the true relationship between the old
index numbers and the new index numbers would be that the old series must be divided by three (3)
in order to be used in the same computation with the new index numbers.


In the event that the CPI (or successor or substitute index) is not available, a reliable
governmental or other non-(Illegible) publication evaluating the information theretofore used in
determining the CPI shall be used in lieu of such CPI. Attached hereto as Exhibit A  is an
example of how the calculation has been made for the five-year period beginning August 1, 1993 and
ending July 31, 1998, this example is provided as illustration of methodology only.


     2. Paragraph 27 of the Lease be and is hereby amended to the effect that:



	 	“a 	-  	Any demand or notice which is required to be given LESSEE under this paragraph 27, must also
be given to the guarantor of this Lease, as amended, and to any
mortgages of LESSEE’S interests
under the Lease, as amended, and the guarantor as well as any such mortgages shall also have the
right to cure any default hereunder




-3-









 






	 	 	 	within the same grace period set forth in this paragraph 27, LESSOR acknowledges that as of the
date of this Amendment of Lease, Argosy Gaming Company, whose address is 219 Piasa Street, Alton,
Illinois 62002-6233 is ghe guarantor of the Lease, as amended. Upon receipt of notice from LESSEE
that it has mortgaged its interests under the Lease, as amended, in which the name and mailing
address (with a municipal street number) of the mortgage is set forth, LESSOR shall be bound to
give notice or make demand on such mortgages.






	 	b	-  	If the guarantor of this Lease, as amended, or a mortgages of LESSEE’S interests hereunder
shall acquire through voluntary conveyance or foreclosure, LESSEE’S rights hereunder, so long as
there is no default hereunder, the successor in interest of LESSEE’S rights hereunder shall be
recognised by LESSOR as the LESSEE under the Lease, as amended, for the remainder of the term
hereof and any extension thereof, subject to the same provisions and conditions hereof, and as such,
the successor in interest shall thereupon become entitled to all of the rights and benefits of the
LESSEE hereunder, subject of course to the obligations, liabilities, covenants and agreements of
the LESSEE. Upon request, LESSOR shall execute an instrument in appropriate recordable form to give
effect to the rights of the successor in interest hereunder, provided that the execution of such
instrument shall not be a condition to the exercise of the right of such successor in interest.”





     3. In all other respects, the provisions of the Lease, as amended hereby, shall remain in full
force and effect.



-4-









 





     THUS DONE AND PASSED on this 4th day of August, 1993, in the city of New Orleans,
Louisiana, in the presence of the undersigned competent witnesses and in the presence of the
undersigned Notary Public, after a reading of the whole.



	 	 	 	 	 	 	 	 	 
	WITNESSES:

	 	 	 	COHN REALTY CO., INC.	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ Illegible

	 	 
	 	By:
	 	/s/ Dr. Isidore Cohn, Jr.
	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Dr. Isidore Cohn, Jr.

President	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ Illegible
 


	 	 	 	 	 	 	 	 






	 	 	 	 	 
	 
	 

	 	/s/ Illegible
	 	 
	 

	 	 	 	 
	 

	 	NOTARY PUBLIC	 	 






     THUS DONE AND PASSED on this 5th day of August, 1993, in the City of Baton Rouge,
Louisiana, in the presence of the undersigned competent witnesses and in the presence of the
undersigned Notary Public, after a reading of the whole.



	 	 	 	 	 	 	 	 	 
	WITNESSES:

	 	 	 	JAZZ ENTERPRISES, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	/s/
Illegible

	 	 
	 	By:
	 	/s/ Mark R. Bradley
	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Mark R. Bradley

Vice President	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ Illegible
 


	 	 	 	 	 	 	 	 






	 	 	 	 	 
	 
	 

	 	/s/ Illegible
	 	 
	 

	 	 	 	 
	 

	 	NOTARY PUBLIC	 	 







-5-