Document:

Exhibit 10.2(A)

 

ASSIGNMENT
AND ASSUMPTION OF LEASE AGREEMENT

 

THIS
ASSIGNMENT AND ASSUMPTION OF LEASE AGREEMENT (the “Assignment”) is entered into effective this 24 day
of Oct., 1995, (the “Effective Date”) by and between RAINBOW ENTERTAINMENT, INC., a Mississippi corporation (the “Assignor”),
and GREENVILLE RIVERBOAT, LLC, a
Mississippi limited liability company (the “Assignee”), who agree as follows:

 

1. Recitals.
Assignor as lessee is a party to an Amended and Restated Lease Agreement dated
as of January 20, 1995 (the “Lease”) with GREENVILLE MARINE CORPORATION, a Mississippi corporation, as
lessor (the “Lessor), pursuant to which the Lessee is leasing from the Lessor
approximately 3.961 acres of real property and the improvements thereon located
in Greenville, Mississippi (the “Property). A copy of the Lease is attached
hereto as Exhibit A. Assignor desires to assign all of its rights
and in and to the Lease to Assignee, and Assignee desires to accept such
assignment and to assume all obligations of Assignor under the Lease pursuant
to the terms and conditions of this Assignment.

 

2. Assignment.
For good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, the Assignor hereby irrevocably sells, assigns, transfers,
conveys and sets over to the Assignee all of the Assignor’s right, title, and
interest in and to the Lease, and the Assignee accepts such assignment. In
consideration of such assignment, Assignee hereby assumes and agrees to perform
all of Assignor’s obligations and duties as lessee under the Lease which arise
on and after the Effective Date. Assignor agrees to indemnify and hold Assignee
harmless against any damages, costs and expenses asserted against or incurred
by Assignee by reason of any acts or omissions of Assignor or the failure of
Assignor to perform any obligations under the Lease to be performed by Assignor
before the Effective Date. Notwithstanding the foregoing, the effectiveness of
this Assignment shall be subject to the receipt of the consent of the Lessor to
this Assignment. Nothing herein is intended or should be construed as reducing
or relieving Assignor of its liability to Lessor under the Lease.

 

3. Representations,
Warranties and Covenants of Assignor. The Assignor represents, warrants,
covenants and agrees that (i) the Lease is in full force and effect; (ii) an
accurate and complete copy of the Lease, including all amendments, is attached
hereto as Exhibit A; (iii) the Assignor has the right to
assign the Lease to the Assignee, subject only to the consent of the Lessor; (iv) this
Assignment has been duly authorized and approved by all necessary corporate
action on the part of Assignor; (v) this Assignment will not breach the
terms of or constitute a default under any agreement, indenture, deed of trust
or other instrument or document to which Assignor is a

 

 

party (vi) the Lease
is free and clear of all liens, encumbrances or claims of third parties; (vii) the
Assignor is not in default under any of the terms and conditions of the Lease
and the Assignor does not know or have reason to know of any facts that could
cause a default under the Lease; (viii) Assignor does not know or have
reason to know of any action, lawsuit, proceeding or governmental action
pending, threatened or anticipated which could affect the Lease, this
Assignment or the Assignee’s interest or rights under the Lease; and (ix) Assignor
has paid all rent and other amounts due under the Lease through the Effective
Date. The representations, warranties, covenants and agreements contained in
this Section 3 shall survive the execution and delivery of this
Assignment.

 

4. Environmental
Matters.

 

(a) Assignor
represents and warrants that (i) no “Hazardous Substance” (as defined
herein) has been disposed of, buried beneath, or percolated beneath the
Property or any improvements thereon nor has any Hazardous Substance ever been
removed from the Property and stored off site of the Property, (ii) there
has been no “Release” (as defined herein) of a Hazardous Substance on or from
the Property or any improvements thereon, (iii) Assignor is in material
compliance with all applicable federal, state and local laws, administrative
rulings, and regulations of any court, administrative agency or other
governmental or quasi-governmental authority, relating to the protection of the
environment (including, but not limited to, laws prohibiting the creation of a
public nuisance) , (iv) Assignor has not received notification that it is
a potentially responsible party under Section 107 of the Comprehensive
Environmental Response Compensation and Liability Act of 1980, as amended (“CERCLA”)
or Section 7003 of the Resource Conservation and Recovery Act of 1976, as
amended (“RCRA”), (v) no underground storage tank is located on the
Property and, to the best of Assignor’s knowledge, no underground storage tank
has ever been located on the Property, and (vi) Assignor has not received
notification from any federal, state, or local government, agency, or
regulatory body, of a violation under any federal, state, or local law
regulating the disposal or discharge of any toxic, explosive or other Hazardous
Substance. For purposes hereof, (a) “Hazardous Substance” means any one (1) or
more of the following: (i) any substance deemed hazardous under Section 101(14)
of CERCLA, (ii) any other substance deemed hazardous by the Environmental
Protection Agency pursuant to Section 102(a) of CERCLA, (iii) petroleum
(including crude oil or any fraction thereof), (iv) any substance deemed
hazardous pursuant to Section 1004(5) of the Resource Conservation
and Recovery Act (“RCRA”), (v) any solid waste identified in Section 1004(27)
of RCRA or (vi) any other hazardous or toxic substance, materials,
compound, mixture, solution, element, pollutant or waste regulated under any
federal, state or local statute, ordinance or regulation; and

 

2

 

(b) “Release” shall
have the meaning given to such term in Section 101(22) of CERCLA.

 

(b) Assignor shall,
from and at all times after the date hereof, fully and promptly pay, perform,
discharge, defend, indemnify and hold Assignee harmless from and against all
claims, orders, demands, actions, proceedings, or suits, and all losses, costs
damages or expenses (including, but not limited to, court costs, technical
consultant fees and expenses, and reasonable attorneys’ fees and expenses)
arising or resulting from any act, occurrence or omission in violation of or
contrary to the representations and warranties made in this Section, whether by
Assignor or any other owner or operator at the Property. Such indemnifications
shall include, but not be limited to, claims made against Assignee with respect
to contamination of the soil and/or groundwater, damage to the environment and
natural resources, and injury or damage to persons or property, the costs of
any health assessment or health effects study, and any costs of removal or
remedial action incurred in connection with the cleanup of the Hazardous
Substance on the Property, whether such liability arises under RCRA, CERCLA, or
any other federal, state and/or local statute, ordinance, regulation or under
common law.

 

(c) The provisions
of this Section 4 shall survive the execution and delivery of this
Assignment.

 

5. Obligations of
Assignee. In consideration of the foregoing assignment, the Assignee hereby
agrees to perform all of the terms and conditions of the Lease to be performed
by the lessee therein, including all rental and other payments becoming due,
after the Effective Date, and to indemnify and save Assignor harmless from and
against any and all claims, demands, losses, liabilities, costs and expenses
(including attorneys fees and disbursements) by reason of any default by
Assignee under the Lease.

 

6. Further
Assurances. The Assignor shall, for no additional consideration, take such
other steps, execute such other documents and do such other things as may be
necessary to fully vest Assignor’s rights in the Lease in Assignee, including
but not limited to assisting Assignee in securing the Assignor’s written
consent to this Assignment.

 

7. Miscellaneous.
This Assignment represents the entire agreement of the parties hereto with
respect to the inherent matter herein. This Assignment shall be binding upon
the parties and their respective successors and assigns. This Assignment shall
be governed by Mississippi law.

 

3

 

IN WITNESS WHEREOF, the
parties have executed this document on the 24 day of Oct, 1995.

 

	
   

  	
  RAINBOW ENTERTAINMENT,
  INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Marvin Cato

  
	
   

  	
   

  	
  Marvin Cato, President

  
	
   

  	
   

  	
   

  
	
   

  	
  GREENVILLE RIVERBOAT,
  LLC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Wimar Tahoe Corporation

      Manager

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ William J. Yung

  
	
   

  	
   

  	
  William J. Yung,
  President

  
				

 

	
  STATE OF TN

  	
   

  	
  )

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  )

  	
  SS:

  	
   

  	
   

  
	
  COUNTY OF Shelby

  	
   

  	
  )

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  

 

The foregoing instrument
was acknowledged before me this 24 day of Oct, 1995, by Marvin Cato,
president of Rainbow Entertainment, Inc., a Mississippi corporation, on
behalf of such corporation.

 

	
   

  	
   

  
	
   

  	
  /s/ Illegible 

  
	
   

  	
  Notary Public

  
	
   

  	
   

  
	
   

  	
  My Commission Expires:
  Apr 28, 1998

  

 

	
  STATE OF Kentucky 

  	
   

  	
  )

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  )

  	
  SS:

  	
   

  	
   

  
	
  COUNTY OF Kenton 

  	
   

  	
  )

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  

 

The foregoing instrument
was acknowledged before me this 25th day of October, 199_, by William J. Yung,
President of Wimar Tahoe Corporation, a Nevada corporation, on behalf of such
corporation as Manager of Greenville Riverboat, LLC, a Mississippi limited
liability company, on behalf of the company

 

	
   

  	
  /s/ Illegible

  
	
   

  	
  Notary Public

  
	
   

  	
   

  
	
   

  	
  My Commission Expires:
                  

  

 

4

 

CONSENT
OF LESSOR

 

The undersigned
represents, warrants, covenants, and agrees that (i) it is the Lessor in
the Lease (as defined in the foregoing Assignment); (ii) the Lease is in
full force and effect; (iii) an accurate and complete copy of the Lease,
including all amendments and restatements thereof, is attached hereto as Exhibit A;
(iv) the Assignor has the right to assign the Lease to the Assignee,
subject only to the consent of the Lessor; (v) this Consent has been duly
authorized and approved by all necessary corporate action on the part of
Lessor; (vi) this Consent will not breach the terms of or constitute a
default under any agreement, indenture, deed of trust or other instrument or
document to which Lessor is a party; (vii) the Assignor is not in default
in any of the terms and conditions set forth in the Lease to be performed by
the Assignor; and (viii) Assignor has paid all rent and other amounts due
under the Lease through the Effective Date (as defined in the foregoing
Assignment) . The representations, warranties, covenants and agreements
contained in this Consent shall survive the execution and delivery of this
Consent.

 

The undersigned has read
and reviewed the terms and conditions in the foregoing Assignment, hereby
consents and agrees to the assignment of the Lease from Assignor to Assignee
pursuant to the terms of the foregoing Assignment, and covenants and agrees
that, during the term of the Lease, Assignee shall have all of Assignor’s
rights and obligations under the Lease.

 

	
   

  	
   

  	
   

  	
  LESSOR:  

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  GREENVILLE
  MARINE CORPORATION

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ D. JOHN NICHOLS

  
	
   

  	
   

  	
   

  	
   

  	
  D. JOHN NICHOLS,
  PRESIDENT

  

 

 

	
  STATE OF Mississippi

  	
  )

  	
   

  	
   

  	
   

  
	
   

  	
  )

  	
  SS:

  	
   

  	
   

  
	
  COUNTY OF Washington

  	
  )

  	
   

  	
   

  	
   

  

 

The foregoing instrument
was acknowledged before me this 26th day of October, 1995, by D. John Nichols,
President of Greenville Marine Corporation, a Mississippi corporation, on
behalf of the corporation.

 

 

	
   

  	
  /s/ Illegible

  
	
   

  	
  Notary Public

  
	
   

  	
  My Commission Expires:
  9/24/96

  

 

5Exhibit 10.2(B)

 

FIRST
AMENDMENT TO AMENDED AND RESTATED LEASE AGREEMENT

 

This First Amendment to
Amended and Restated Lease Agreement (the “First Amendment”) is entered into
effective as of October 26, 1995 between GREENVILLE MARINE CORPORATION,
with its principal place of business at P.O. Box 539, Greenville,
Washington County, Mississippi (“Lessor”) and GREENVILLE RIVERBOAT, LLC, with
its principal place of business at 201 N. Lakefront Drive, Greenville,
Washington County, Mississippi (“Lessee”), who agree as follows:

 

1. Recitals. Lessor and Rainbow
Entertainment, Inc. (“Rainbow”) entered into an Amended and Restated Lease
Agreement dated January 20, 1995 (the “Lease”). By Assignment and
Assumption of Lease dated October 24, 1995, Rainbow assigned all of its
right, title and interest in and to the Lease to Lessee. The parties hereto
desire to amend the Lease in accordance with this First Amendment.

 

2. Amendment.

 

(a) The third
sentence of Section 1 is hereby amended by deleting “excepted from” and
inserting in lieu thereof “included in”; and the last sentence of Section 1
is hereby deleted.

 

(b) The last
sentence of Section 2.1 is hereby amended by adding the following before
the period:

 

“, bar, or other related
facilities”.

 

(c) Sections 5.3
and 5.4 of the Lease are hereby amended in their entirety to read as follows:

 

5.3 Lessee shall have the
right to sublease up to two and one-half (2 1/2) acres of the Premises (the “Subparcel”)
to Wimar Tahoe Corporation or any affiliate of Wimar Tahoe Corporation (“Subtenant”)
on such terms and conditions as Lessee determines are acceptable in its
reasonable business judgment (the “Sublease”) . The Lessee shall deliver to the
Lessor a copy of any Sublease or any amendment or modification thereto, and
Lessor acknowledges receipt of the Sublease Agreement dated June 26, 1996
between Lessee and Sargasso Corporation, an affiliate of Wimar Tahoe
Corporation. The Subtenant shall have the right to develop, construct and
operate a motel, hotel, restaurant, bar, business office, entertainment
facilities for the performing arts, or other related facilities on the
Subparcel; provided, however, the Subparcel will not be utilized in any way for
gaming purposes or operations, except that which is operated at the Premises by
the Lessee (or the Lessor and his

 

 

assigns if this Lease is
terminated). Any motel or hotel shall be constructed and maintained as a
quality facility similar to hotels and motels operated under nationally-known
franchises which charge the same rates as Subtenant. Any restaurant or bar
shall be constructed and maintained as a quality facility. Subtenant shall
agree to keep all facilities in good condition and repair, excepting ordinary
wear and tear, and such covenant shall be enforceable by Lessor. Subtenant and
Lessee shall share parking availability on the Premises as agreed in the
Sublease. In the event that this Lease is terminated for any reason, Lessor
agrees not to disturb, terminate, or alter in any manner the tenancy of the
Subtenant under the Sublease, so long as the Subtenant attorns to the Lessor.
Upon Subtenant agreeing to such attornment, Subtenant’s tenancy shall not be
disturbed so long as it complies with all the terms and conditions of the
Sublease; provided that the Subtenant’s rent payable to Lessor in such event
shall be $6,250 per month, increased annually from the date hereof by a
percentage equal to the increase, if any, in the Consumer Price Index, All
Urban Consumers, or the sum actually due under the Sublease, whichever is
greater. Subtenant shall have the right to grant a mortgage on or assign under
a deed of trust, all of the Subtenant’s sublease interest in the subparcel upon
the terms and conditions contained in Section 12.

 

5.4 At Lessee’s request
and expense, Lessor shall fully cooperate in the subdivision of the Premises to
make the Subparcel a separate parcel.

 

(d) Section 10
is hereby amended by adding the following at the end of that Section:

 

Lessee agrees to
indemnify Lessor from any claims, demands, liabilities, costs, fees, and
expenses (including reasonable attorney’s fees) arising out of Lessor’s lease
to Lessee on that portion of the Premises conveyed by William Yerger to the
City of Greenville recorded in Book 114 at Page 354 of the Land Records in
the office of the Chancery Clerk of Washington County, Mississippi. At Lessee’s
request and expense, Lessor shall assist and cooperate with Lessee in
establishing or maintaining the position that the restrictions set forth in
such conveyance are invalid, unenforceable, or otherwise of no force or effect.

 

2

 

(e) In the last
sentence of Section 15.3 of the Lease, insert the following after the word
“hotel”:

 

“, motel, restaurant,
bar, business office, entertainment facilities for the performing arts, or
other related facilities”.

 

(f) Section 23
of the Lease is hereby amended by adding the following at the end of that
Section:

 

The invalidity or
unenforceability of any provision of this Lease or the application thereof to
any property, person or circumstance, to any extent, for any reason, shall not
affect the validity or enforceability of the remainder of such provision, any
other provision hereof, or the remainder of this Lease, or the application of
any provision to any other property, person, or circumstance, and, provided the
essential purpose of this Lease is maintained, this Lease shall be reformed to
the extent necessary to effectuate the foregoing, it being intended that the
rights and obligations of the parties hereto be enforceable to the fullest
extent permitted by law.

 

(g) In Section 25
of the Lease, all of the language beginning with “If To Lessee” is hereby
deleted and replaced with the following:

 

	
   

  	
   

  
	
  If To Lessee:

  	
  Wimar Tahoe
  Corporation,

  Manager

  
	
   

  	
  Greenville Riverboat,
  LLC

  
	
   

  	
  207 Grandview Drive

  
	
   

  	
  Ft. Mitchell, KY 41017

  
	
   

  	
  Attn: William C.
  Beegle, Vice President

  

 

3.
Remainder of Lease. Except as amended by this First Amendment, the Lease shall remain in
full force and effect.

 

3

 

IN WITNESS WHEREOF, the
parties have executed this document effective as of the date first above
written.

 

	
   

  	
   

  	
   

  	
  GREENVILLE MARINE
  CORPORATION

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ D. John Nichols  

  
	
   

  	
   

  	
   

  	
   

  	
  D. John Nichols,
  President

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  GREENVILLE RIVERBOAT,
  LLC

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Wimar Tahoe
  Corporation, 

  Manager

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ William J. Yung  

  
	
   

  	
   

  	
   

  	
   

  	
  William J. Yung,
  President

  

 

	
  State of Mississippi

  	
  )

  	
   

  	
   

  	
   

  
	
   

  	
  )

  	
  SS

  	
   

  	
   

  
	
  County of Washington

  	
  )

  	
   

  	
   

  	
   

  

 

The foregoing instrument
was acknowledged before me this 1st day of November, 1996 by D. John Nichols, President of Greenville Marine
Corporation, a Mississippi Corporation, on behalf of the Corporation.

 

	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  /s/ [ILLEGIBLE]

  
	
   

  	
   

  	
   

  	
   

  	
  Notary Public

  
	
   

  	
   

  	
   

  	
   

  	
  My commission expires:
  11-11-99

  
	
   

  	
   

  	
   

  	
   

  

 

	
  State of Kentucky

  	
  )

  	
   

  	
   

  	
   

  
	
   

  	
  )

  	
  SS

  	
   

  	
   

  
	
  County of Kenton

  	
  )

  	
   

  	
   

  	
   

  

 

The foregoing instrument
was acknowledged before me this 7th day of October, 1996 by William J. Yung,
President of Wimar Tahoe Corporation, a Nevada Corporation, on behalf of such
Corporation as Manager of Greenville Riverboat, LLC., a Mississippi Limited
Liability Company, on behalf of the Company.

 

	
   

  	
   

  
	
   

  	
  /s/ [ILLEGIBLE]

  
	
   

  	
  Notary Public

  
	
   

  	
  My Commission Expires
  Oct. 24, 1998

  

 

4

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