Document:

Exhibit 10.2

                          WAIVER AND AMENDMENT NO. 1 TO
                           LOAN AND SECURITY AGREEMENT

            This Waiver and Amendment No. 1 to Loan and Security Agreement (this
"Amendment") dated as of October 13, 2004, by and among LaSalle Business Credit,
LLC, for itself, as a lender, and as Agent ("Agent") for the lenders ("Lenders")
from time to time party to the Loan Agreement (as defined below), the Lenders
party hereto, Easy Gardener Products, Ltd., a Texas limited Partnership
("Borrower"), EYAS International, Inc., a Texas corporation ("EYAS"), EG Product
Management, L.L.C., a Texas limited liability company ("EG Product"), EG,
L.L.C., a Nevada limited liability company ("EG"), Weatherly Consumer Products
Group, Inc., a Delaware corporation ("WCP Group"), Weatherly Consumer Products,
Inc., a Delaware corporation ("WCP"), and NBU Group, LLC, a Texas limited
liability company ("NBU"; Borrower, EYAS, EG Product, EG, WCP Group, WCP and NBU
are collectively referred to herein as the "Credit Parties" and each
individually as a "Credit Party").

                             Preliminary Statements

            Agent, Lenders and Credit Parties entered into that certain Loan and
Security Agreement dated as of April 27, 2004 (as amended, restated or otherwise
modified from time to time, the "Loan Agreement"). Capitalized terms used but
not defined in this Amendment shall have the meanings ascribed to such terms in
the Loan Agreement.

            The Credit Parties have requested that Agent and Lenders waive the
Events of Default that exist under the Loan Agreement as a result of Borrower's
failure to (i) deliver to Agent, within ninety (90) days after the end of
Borrower's Fiscal Year ending June 30, 2004, the audited, consolidated financial
statements of Borrower for such Fiscal Year, constituting a breach of subsection
9(c) of the Loan Agreement and an Event of Default pursuant to subsection 15(b)
of the Loan Agreement, (ii) have EBITDA of at least $10,000,000 for (x) the
twelve months ending July 31, 2004 and (y) the twelve months ending August 31,
2004, in each case constituting a breach of subsection 14(b) of the Loan
Agreement and an Event of Default pursuant to subsection 15(b) of the Loan
Agreement, and (iii) have a ratio of (a) the sum of its average daily
outstanding Revolving Loans for the month of June, 2004, plus the amount of
indebtedness owing by Borrower to CapitalSource Finance LLC under the
CapitalSource Agreements as of June 30, 2004 to (b) EBITDA for the twelve month
period ending June 30, 2004, of less than or equal to 3.25:1.0, constituting a
breach of subsection 14(c) of the Loan Agreement and an Event of Default
pursuant to subsection 15(b) of the Loan Agreement, (collectively, the "Existing
Events of Default");

            The Credit Parties have further requested that Agent and Lenders
amend the Loan Agreement in certain respects, as set forth below.

            NOW, THEREFORE, in consideration of the foregoing recitals, the
mutual covenants and agreements set forth herein and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto hereby agree as follows:

<PAGE>

            1. Waiver. Subject to the satisfaction of the conditions set forth
herein, Agent and Lenders hereby waive the Existing Events of Default. The
foregoing waiver shall not constitute a waiver of any other Events of Default
that may exist, or a waiver of any future Events of Default that may occur
(including, without limitation, any Event of Default arising from any other
breach of (x) subsection 9(c) of the Loan Agreement after the date of this
Amendment, (y) subsection 14(b) of the Loan Agreement as of any date after
August 31, 2004 and (z) subsection 14(c) of the Loan Agreement as of any date
after June 30, 2004).

            2. Amendments to Loan Agreement. Subject to the satisfaction of the
conditions set forth herein, the Loan Agreement hereby is amended as follows:

            (a) The defined term "First Amendment" is hereby added to Section 1
of the Loan Agreement, in appropriate alphabetical order, as follows:

            ""First Amendment" shall mean that certain Waiver and Amendment No.
            1 to Loan and Security Agreement dated as of October 13, 2004, among
            Agent, Lenders, Borrower and the Credit Parties."

            (b) The defined term "EBITDA" set forth in Section 1 of the Loan
Agreement is hereby amended and restated in its entirety, as follows:

            ""EBITDA" shall mean, with respect to any period, Borrower's and its
            Subsidiaries' net income after taxes for such period (excluding any
            after-tax gains or losses on the sale of assets (other than the sale
            of Inventory in the ordinary course of business) and excluding other
            after-tax extraordinary gains or non-cash losses) plus interest
            expense, income tax expense, depreciation and amortization for such
            period, plus or minus any other non-cash charges or gains which have
            been subtracted or added in calculating net income after taxes for
            such period, plus an amendment fee in the amount of $30,000 charged
            by Agent and Lenders in connection with the execution and delivery
            of the First Amendment, plus the amendment fee in the amount of
            $20,000 charged by CapitalSource Finance LLC in connection with the
            execution and delivery of a waiver and amendment to the
            CapitalSource Agreements on or about the date of the First
            Amendment, all on a consolidated basis; provided, however, that
            notwithstanding the foregoing, for any calculation of EBITDA
            pursuant to this Agreement that includes the months ending May 31,
            2003, June 30, 2003, July 31, 2003, August 31, 2003 and September
            30, 2003, EBITDA shall be deemed to be: $1,900,000 for the month
            ending May 31, 2003, $1,135,000 for the month ending June 30, 2003,
            $458,000 for the month ending July 31, 2003, -$16,000 for the month
            ending August 31, 2003, -386,000 for the month ending September 30,
            2003 and -$724,000 for the month ending October 31, 2003, and
            provided, further, that for any calculation of EBITDA pursuant to
            this Agreement for any period that includes the months ending
            October 31, 2004, November 30, 2004, December 31, 2004, January 31,
            2005, February 28, 2005 and March 31, 2005, consultant's fees and
            expenses incurred by Borrower and its Subsidiaries during such
            months

                                      -2-
<PAGE>

            pursuant to the requirements set forth in the CapitalSource
            Agreements shall be added to EBITDA to the extent such fees and
            expenses have been subtracted in calculating net income after taxes
            for such months (provided, that the aggregate amount of such fees
            and expenses that may be added to EBITDA for such months shall not
            exceed $100,000)."

            (c) The leverage ratio covenant for the period ending March 31,
2005, set forth in subsection 14(c) of the Loan Agreement, is hereby amended and
restated in its entirety, as follows:

     "Twelve months ending March 31, 2005                   3.40:1.0"

            3. Representations and Warranties of Credit Parties. Each Credit
Party represents and warrants that, as of the date hereof:

            (a) Such Credit Party has the right and power and is duly authorized
to enter into this Amendment;

            (b) Other than the Existing Events of Default, no Event of Default
or an event or condition which upon notice, lapse of time or both would
constitute an Event of Default has occurred and is continuing;

            (c) The execution, delivery and performance by such Credit Party of
this Amendment and the other agreements to which such Credit Party is a party
(i) have been duly authorized by all necessary action on its part; (ii) do not
and will not, by the lapse of time, giving of notice or otherwise, violate the
provisions of the terms of its Articles of Incorporation or Organization,
By-Laws or Operating Agreement, or of any mortgage, indenture, security
agreement, contract, undertaking or other agreement to which such Credit Party
is a party, or which purports to be binding on such Credit Party or any of its
properties; (iii) do not and will not, by lapse of time, the giving of notice or
otherwise, contravene any governmental restriction to which such Credit Party or
any of its properties may be subject; and (iv) do not and will not, except as
contemplated in the Loan Agreement, result in the imposition of any lien,
charge, security interest or encumbrance upon any of Borrower's properties under
any indenture, mortgage, deed of trust, loan or credit agreement or other
agreement or instrument to which such Credit Party is a party or which purports
to be binding on such Credit Party or any of its properties;

            (d) No consent, license, registration or approval of any
governmental authority, bureau or agency is required in connection with the
execution, delivery, performance, validity or enforceability of this Amendment;
and

            (e) This Amendment has been duly executed and delivered by such
Credit Party and is enforceable against such Credit Party in accordance with its
terms.

            4. Additional Agreement. Borrower hereby covenants and agrees that
it shall deliver to Agent, on or before October 20, 2004, the audited,
consolidated financial statements of Borrower for the Fiscal Year of Borrower
ended June 30, 2004, along with the

                                      -3-
<PAGE>

other documents required to be delivered to Agent in connection therewith
pursuant to subsection 9(c) of the Loan Agreement, all in accordance with the
provisions of subsection 9(c) of the Loan Agreement. The Credit Parties hereby
acknowledge and agree that Borrower's failure to deliver such audited financial
statements to Agent in accordance with the provisions of this paragraph 4 on or
before October 20, 2004 shall constitute an immediate Event of Default under the
Loan Agreement.

            5. Conditions Precedent. The effectiveness of this Amendment is
subject to the following conditions precedent:

            (a) Agent shall have received a fully-executed copy of this
Amendment from Credit Parties and Lenders, which shall be in form and substance
satisfactory to Agent;

            (b) Agent shall have received a fully-executed copy of a waiver and
an amendment from CapitalSource Finance LLC, which waiver and amendment shall,
among other things, evidence CapitalSource Finance LLC's waiver of the Existing
Events of Default under the CapitalSource Agreements and shall amend the
CapitalSource Agreements in a manner consistent with this Amendment, and which
shall otherwise be in form and substance satisfactory to Agent and its legal
counsel;

            (c) Borrower shall have paid an amendment fee to Agent in the amount
of $30,000, which fee shall be distributed by Agent to the Lenders in accordance
with their Pro Rata Shares;

            (d) All proceedings taken in connection with the transactions
contemplated by this Amendment and all documents, instruments and other legal
matters incident thereto shall be satisfactory to Agent and its legal counsel;
and

            (e) Other than the Existing Events of Default, the absence of any
Event of Default or any event which, if uncured, would become an Event of
Default after notice or lapse of time (or both).

            6. Consent Under Subordination and Intercreditor Agreement. Agent
hereby consents, for purposes of the Loan Agreement and the CapitalSource
Subordination Agreement, to the execution and delivery of that certain Second
Amendment to Term Loan and Security Agreement and Waiver dated on or about the
date of this Amendment, among CapitalSource Finance LLC, as agent and as a
lender, and the Credit Parties.

            7. Fees and Expenses. Borrower agrees to pay all legal fees and
other expenses incurred by Agent in connection with this Amendment.

            8. Loan Agreement Remains in Force. Except as specifically modified
hereby, all of the terms and conditions of the Loan Agreement shall remain in
full force and effect and this Amendment shall not be a waiver of any rights or
remedies which Agent or Lenders have provided for in the Loan Agreement and all
such terms and conditions are herewith ratified, adopted, approved and accepted.

                                      -4-
<PAGE>

            9. No Novation. This Amendment is not intended to nor shall be
construed to create a novation or accord and satisfaction with respect to any of
the Liabilities.

            10. Severability. Any provision of this Amendment that is prohibited
or unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof or affecting the validity or
enforceability of such provision in any other jurisdiction.

            11. Ratification. Except as expressly modified hereby and by any
other supplemental documents or instruments executed by either party hereto in
order to effectuate the transactions contemplated hereby, the Loan Agreement
thereto hereby are ratified and confirmed by the parties hereto and remain in
full force and effect in accordance with the terms thereof.

                            [Signature Pages Follow]

                                      -5-
<PAGE>

                  IN WITNESS WHEREOF, the parties hereto have caused this
Amendment to be duly executed under seal and delivered by their respective duly
authorized officers on the date first written above.

                                        LASALLE BUSINESS CREDIT, LLC,
                                        as Agent and a Lender

                                        By  Scott Busch
                                            -----------------------
                                        Its FVP
                                            -----------------------

                                        LASALLE BANK NATIONAL ASSOCIATION,
                                        as a Lender

                                        By  Connie Novitsky
                                            ------------------------------------
                                        Its Assistant Vice President
                                            ------------------------------------

                                        EASY GARDENER PRODUCTS, LTD.,
                                        as Borrower

                                        By  Richard M. Kurz
                                            -----------------------
                                        Its CFO
                                            -----------------------

                                        EYAS INTERNATIONAL, INC.,
                                        as a Credit Party

                                        By  Richard M. Kurz
                                            -----------------------
                                        Its CFO
                                            -----------------------

                                        EG PRODUCT MANAGEMENT, L.L.C.
                                        as a Credit Party

                                        By  Richard M. Kurz
                                            -----------------------
                                        Its CFO
                                            -----------------------

                                      -6-
<PAGE>

                                        EG, L.L.C., as a Credit Party

                                        By  Richard M. Kurz
                                            -----------------------
                                        Its CFO
                                            -----------------------

                                        WEATHERLY CONSUMER PRODUCTS GROUP, INC.,
                                        as a Credit Party

                                        By  Richard M. Kurz
                                            -----------------------
                                        Its CFO
                                            -----------------------

                                        WEATHERLY CONSUMER PRODUCTS, INC.,
                                        as a Credit Party

                                        By  Richard M. Kurz
                                            -----------------------
                                        Its CFO
                                            -----------------------

                                        NBU GROUP, LLC, as a Credit Party

                                        By  Richard M. Kurz
                                            -----------------------
                                        Its CFO
                                            -----------------------

                                      -7-EXHIBIT 10.115
                                                                  EXECUTION COPY

                                                        as of September 30, 2004

BXG Receivables Note Trust 2001-A
c/o Wilmington Trust Company
Rodney Square North
1100 N. Market Street
Wilmington, DE 19890

            Re:   Asset Backed Notes, Series 2001-A

Ladies and Gentlemen:

            Reference is made to (i) that certain Amended and Restated Note
Purchase Agreement (the "Note Purchase Agreement"), dated as of April 17, 2002,
by and among BXG Receivables Note Trust 2001-A, as Issuer (the "Issuer"),
Bluegreen Receivables Finance Corporation V, as Depositor (the "Depositor"),
Bluegreen Corporation, as Seller and Servicer ("Bluegreen"), the Purchasers
party thereto and the undersigned Resort Finance LLC (as successor to ING
Capital LLC), as Agent ("RFL"), relating to your Asset Backed Notes, Series
2001-A, (ii) that certain Amended and Restated Indenture (the "Indenture"),
dated as of April 17, 2002, by and among the Issuer and U.S. Bank National
Association (formerly known as U.S. Bank Trust National Association), as
Indenture Trustee (the "Indenture Trustee"), and (iii) that certain extension
letter, dated as of December 31, 2003 (the "December Extension Letter"), by and
among RFL, the Issuer, Bluegreen and the Depositor. Capitalized terms used
herein and not defined shall have the meanings ascribed to them in the Note
Purchase Agreement, the Indenture or the Amended and Restated Sale and Servicing
Agreement (the "Sale and Servicing Agreement"), dated as of April 17, 2002, by
and among the Depositor, the Issuer, Bluegreen, Concord Servicing Corporation,
as Backup Servicer and the Indenture Trustee, as applicable.

            1. You are hereby notified that, notwithstanding the terms of
Section 2.2(d) of the Note Purchase Agreement, each Purchaser has agreed and by
execution hereof, confirms such agreement, to extend the Commitment Expiration
Date from September 30, 2004 to September 29, 2005.

            2. Notwithstanding the definition of "Funding Rate" in the Note
Purchase Agreement, except when and to the extent that an Amortization Event
(NPA) shall have occurred and be continuing, the "Funding Rate" under the Note
Purchase Agreement shall be one-month LIBOR. To the extent that an Amortization
Event (NPA)

<PAGE>

shall have occurred and is continuing, the "Funding Rate" shall be as specified
in the Note Purchase Agreement.

            3. Notwithstanding the definition of "Facility Limit" in the Sale
and Servicing Agreement, pursuant to the definition of "Facility Limit" therein,
RFL, as Agent, hereby notifies you that the Facility Limit is $100,000,000 and
the Commitments of the Purchasers under the Note Purchase Agreement is hereby
reduced to $100,000,000 accordingly.

            4. On each Payment Date prior to the Facility Termination Date, the
Issuer will be required to pay to the Agent a program fee ("Program Fee") equal
to the product of the Facility Limit and 1/12 of 0.25%.

            5. On each Payment Date after the execution of this letter agreement
and prior to the Facility Termination Date, the Issuer will be required to pay a
utilization fee ("Utilization Fee") equal to the product of (i) the product of
(x) a fraction, the numerator of which is equal to the Utilization Rate (as
defined below) and the denominator of which is 360 and (y) the number of days
elapsed since the Payment Date immediately preceding such Payment Date and (ii)
the average daily Note Principal Balance for the period from the Payment Date
immediately preceding such Payment Date to the day prior to such Payment Date.
The "Utilization Rate" shall equal 3.25%.

            6. The Program Fees and Utilization Fees shall be paid pursuant to
Section 3.2 of the Sale and Servicing Agreement. The Issuer is hereby notified
that this letter agreement shall constitute the "Fee Letter" for purposes of
Section 2.3(a) of the Note Purchase Agreement, this letter agreement supersedes
the description of fees contained in the December Extension Letter in its
entirety and this letter agreement shall constitute a Related Document for all
purposes of the Indenture and the Note Purchase Agreement, and that the failure
to pay the Fees set forth in this letter agreement shall constitute an
Amortization Event for purposes of Section 5.1 of the Indenture.

            7. The parties agree that the delivery of opinions of Choate Hall &
Stewart and local counsels in (i) each state in which Bluegreen has timeshare
properties which secure the timeshare loans securing the Notes and (ii) Aruba,
shall be a condition precedent to the first funding after the date hereof.

            8. Other than as specified in the paragraphs above, all other terms
of the Note Purchase Agreement and other Transaction Documents shall continue in
full force and effect. This letter agreement supercedes the December Extension
Letter.

            9. This letter agreement shall be governed by the laws of the State
of New York.

                                       2
<PAGE>

            Please signify your agreement to and acceptance of the foregoing by
executing this letter agreement in the space provided below.

                                        Very truly yours,

                                        RESORT FINANCE LLC,
                                          as Agent and Purchaser

                                        By: ____________________________________
                                            Name:
                                            Title:

Agreed to and accepted as
of the date first above written:

BXG RECEIVABLES NOTE TRUST 2001-A

By:  Wilmington Trust Company,
     not in its individual capacity, but solely as Owner Trustee

     By: ____________________________
         Name:
         Title:

BLUEGREEN CORPORATION, as Seller and Servicer

By:  ____________________________
     Name:
     Title:

BLUEGREEN RECEIVABLES FINANCE CORPORATION V, as Depositor

By:  ____________________________
     Name:
     Title:

cc: U.S. Bank Trust National Association

                                       3
<PAGE>

                            as of September 30, 2004

Bluegreen Corporation
4960 Conference Way North, Suite 100
Boca Raton, FL 33431

Re:   BXG Warehouse Facility

Ladies and Gentlemen:

      Reference is made to (a) the warehouse facility (the "Warehouse Facility")
pursuant to which warehouse financing notes (the "Notes") were issued by BXG
Receivables Note Trust 2001-A (the "Issuer"), such Notes being currently owned
and funded by Resort Finance LLC ("RFL") and (b) that certain proposed letter
agreement, dated as of September 30, 2004 (the "Extension Letter"), by and among
RFL, the Issuer, Bluegreen Corporation ("Bluegreen") and Bluegreen Receivables
Finance Corporation V pursuant to which RFL shall extend the Commitment
Expiration Date related to the Warehouse Facility.

      This letter agreement shall confirm the agreement by and between RFL and
Bluegreen relating to the Warehouse Facility and the Extension Letter.

      For good and valuable consideration, the receipt of which is hereby
acknowledged, each of Bluegreen and RFL agree that upon the execution of the
Extension Letter, Bluegreen shall pay a fee equal to the product of (a) 1/2% and
(b) the Facility Limit (as defined in the Extension Letter).

            Please signify your agreement to and acceptance of the foregoing by
executing this letter agreement in the space provided below.

                                        Very truly yours,

                                        RESORT FINANCE LLC

                                        By: ____________________________________
                                            Name:
                                            Title:

Agreed to and accepted as
of the date first above written:

BLUEGREEN CORPORATION

By:  _______________________________
     Name:
     Title:

                                       4

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