Document:

EXHIBIT 10.13B

 

AMENDMENT TO OPTION AGREEMENT

 

This
AMENDMENT TO OPTION AGREEMENT (the “Amendment”) is made as of
July 6, 2010 by and between Jacobs Entertainment, Inc., a
Delaware corporation (“Tenant”) and Sycamore & Main, Inc., an
Ohio corporation (“Landlord”).

 

	
  1.

  	
  Original Agreement: 
  Tenant and Landlord previously executed that certain Option Agreement
  dated July 11, 2006 (the “Original Agreement”) for the lease of certain
  property on the west bank of the Cuyahoga River in Cleveland, Ohio forming
  part of the parking lot of the Nautica Entertainment Complex.

  
	
   

  	
   

  
	
  2.

  	
  Purpose:  The
  purpose of this Amendment is to (a) extend the Option Period (as defined
  in the Original Agreement) granted to Tenant an additional two years on the
  same terms and conditions as in the Original Agreement and (b) ratify,
  affirm and restate (except to the extent modified herein) the Original
  Agreement as set forth below.

  
	
   

  	
   

  
	
  3.

  	
  Extension of Option: 
  The Option Period shall be extended to July 11, 2012.

  
	
   

  	
   

  
	
  4.

  	
  Remaining Terms: 
  Except as set forth in Section 3 of this Amendment, all other
  terms and provisions of the Original Agreement are hereby ratified and
  affirmed and restated as if set out word for word herein.

  
	
   

  	
   

  
	
   

  	
  TENANT

  	
   

  	
  LANDLORD

  
	
   

  	
  Jacobs Entertainment, Inc.

  	
   

  	
  Sycamore & Main, Inc.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Stanley Politano

  	
   

  	
  By:

  	
  /s/ David C. Grunenwald

  
	
   

  	
  Stanley Politano

  	
   

  	
  David C. Grunenwald

  
	
   

  	
  Executive Vice President

  	
   

  	
  Vice President of
  Development/Leasing

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Patrick J. McKinley

  
	
   

  	
   

  	
   

  	
  Patrick J. McKinley

  
	
   

  	
   

  	
   

  	
  Executive Vice PresidentEXHIBIT 10.14B

 

AMENDMENT TO OPTION AGREEMENT

 

This
AMENDMENT TO OPTION AGREEMENT (the “Amendment”) is made as of
July 6, 2010 by and between Jacobs Entertainment, Inc., a
Delaware corporation (“Tenant”) and Nautica Peninsula Land Limited Partnership,
an Ohio limited partnership (“Landlord”).

 

	
  1.

  	
  Original Agreement: 
  Tenant and Landlord previously executed that certain Option Agreement
  dated July 11, 2006 (the “Original Agreement”) for the lease of certain
  property on the west bank of the Cuyahoga River in Cleveland, Ohio forming
  part of the parking lot of the Nautica Entertainment Complex.

  
	
   

  	
   

  
	
  2.

  	
  Purpose:  The
  purpose of this Amendment is to (a) extend the Option Period (as defined
  in the Original Agreement) granted to Tenant an additional two years on the same
  terms and conditions as in the Original Agreement and (b) ratify, affirm
  and restate (except to the extent modified herein) the Original Agreement as
  set forth below.

  
	
   

  	
   

  
	
  3.

  	
  Extension of Option: 
  The Option Period shall be extended to July 11, 2012.

  
	
   

  	
   

  
	
  4.

  	
  Remaining Terms: 
  Except as set forth in Section 3 of this Amendment, all other
  terms and provisions of the Original Agreement are hereby ratified and
  affirmed and restated as if set out word for word herein.

  
	
   

  	
   

  
	
   

  	
  TENANT

  	
   

  	
  LANDLORD

  
	
   

  	
  Jacobs Entertainment, Inc.

  	
   

  	
  Nautica Peninsula Land Limited
  Partnership

  
	
   

  	
   

  	
   

  	
  By:  Nautica Peninsula, Inc., General
  Partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Stanley Politano

  	
   

  	
  By:

  	
  /s/ David C. Grunenwald

  
	
   

  	
  Stanley Politano

  	
   

  	
  David C. Grunenwald

  
	
   

  	
  Executive Vice President

  	
   

  	
  Vice President of Development/Leasing

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Patrick J. McKinley

  
	
   

  	
   

  	
   

  	
  Patrick J. McKinley

  
	
   

  	
   

  	
   

  	
  Executive Vice PresidentExhibit 10.1

 

FIRST AMENDMENT

TO

SECOND AMENDED AND RESTATED LOAN AGREEMENT

 

This First Amendment (this “Amendment”) is made
as of June 8, 2010 between CHASE CORPORATION (the “Borrower”) and BANK OF
AMERICA, N.A., a national banking association as successor by merger to Fleet
National Bank  (f/k/a BankBoston,
N.A. and The First National Bank of Boston) (the “Bank”).

 

RECITALS

 

A.                                   The Bank and
the Borrower entered into a Loan and Security Agreement dated on or about April 11,
1991, which was thereafter amended, and as of October 31, 2001 entered
into a First Amended and Restated Loan Agreement, which was thereafter amended,
and as of September 4, 2009 entered into a Second Amended and Restated
Loan Agreement (the “Loan Agreement”), providing for revolving loans by the
Bank to the Borrower and for various term loans by the Bank to the
Borrower.  Capitalized terms used herein
without definition shall have the meanings assigned to them in the Loan
Agreement.

 

B.                                     The Borrower
desires to extend the Facility No. 1 Expiration Date of the Facility No. 1
Commitment for a line of credit, to modify the interest rate, and to amend a
certain definition, as provided in the Loan Agreement.

 

C.                                     Subject to
certain terms and conditions, the Bank is willing to agree to extend the Facility
No. 1 Expiration Date, to modify the interest rate, and to amend a certain
definition, as hereinafter expressly set forth.

 

NOW THEREFORE, for good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the
parties hereto agree as follows:

 

1.                                       Amendments to Loan Agreement.

 

(a)                                  Section 1.2
of the Loan Agreement is amended by deleting the first sentence of such section
and substituting the following therefore:

 

“The
line of credit is available between the date of this Agreement and March 31,
2013, or such earlier date as the availability may terminate as provided in
this Agreement (the “Facility No. 1 Expiration Date”).”

 

(b)                                 Section 1.4
of the Loan Agreement is amended by deleting the first sentence of such section
and substituting the following therefore:

 

“The
interest rate is a rate per year equal to the sum of the “LIBOR Daily Floating
Rate” plus 1.50 percentage points.”

 

(c)                                  Section 1.5(a) of
the Loan Agreement is amended by deleting said section and substituting the
following therefore:

 

 

“(a)                            The LIBOR Rate
plus 1.50 percentage points.”

 

(d)                             The definition
of “Operating Cash Flow” in Section 12 of the Loan Agreement is amended by
deleting such definition and substituting the following therefor:

 

““Operating
Cash Flow”  For any period, Earnings
Before Interest and Taxes plus depreciation and amortization for such period,
minus unfinanced Capital Expenditures and dividends paid or incurred during
such period, and minus any cash taxes paid.”

 

2.                                       No Further Amendments.  Except as specifically amended hereby, the
Loan Agreement shall remain otherwise unmodified and in full force and effect
and is hereby ratified and affirmed in all respects.

 

3.                                       Certain Representations of the Borrower.  As a material inducement to the Bank to enter
into this Amendment, the Borrower represents and warrants to the Bank, after
giving effect to this Amendment, as follows:

 

(a)               The execution and delivery of this Amendment
has been duly authorized by all requisite corporate action on the part of the
Borrower and will not violate any provision of law, any order, judgment or
decree of any court or other agency of government, or the articles or by-laws
of the Borrower or any indenture, agreement or other instrument to which the
Borrower is bound, or be in conflict with, or result in a breach of, or
constitute (with due notice or lapse of time or both) a default under, or
result in the creation or imposition of any lien, charge or encumbrance of any
nature whatsoever upon any of the property or assets of the Borrower pursuant
to, any such indenture, agreement or instrument.

 

(b)              The representations and warranties contained in the
Loan Agreement are true and correct in all material respects on and as of the
date of this Amendment as though made at and as of such date (except to the
extent that such representations and warranties expressly relate to an earlier
date or except to the extent variations therefrom have been permitted under the
terms of the Loan Agreement or otherwise permitted in writing by the
Bank).  No material adverse change has
occurred in the assets, liabilities, financial condition, business or prospects
of the Borrower from that disclosed in the annual certified financial
statements most recently furnished to the Bank. 
No event of default or condition or event that, but for the requirement
that time elapse or notice be given or both, would constitute an event of
default, has occurred or is continuing.

 

(c)               This Amendment constitutes the legal, valid
and binding obligation of the Borrower, enforceable against the Borrower in
accordance with its terms, subject to bankruptcy, insolvency, reorganization,
moratorium and similar laws affecting the rights and remedies of creditors
generally or the application of principles of equity, whether in any action at
law or proceeding in equity, and subject to the availability of the remedy of
specific 

 

2

 

performance
or of any other equitable remedy or relief to enforce any right thereunder.

 

4.                                       Conditions.  The
willingness of the Bank to agree to the foregoing is subject to the following
conditions:

 

(a)               The Borrower shall have executed and
delivered to the Bank (or shall have caused to be executed and delivered to the
Bank by the appropriate persons) the following:

 

(i)  This Amendment and

 

(ii)  Such other supporting documents and
certificates as the Bank or its counsel may reasonably request.

 

(b)              All legal matters incident to the transactions
contemplated hereby shall be satisfactory to counsel for the Bank.

 

5.                    Miscellaneous.

 

(a)               This Amendment shall be governed by and
construed in accordance with the laws of the Commonwealth of Massachusetts.

 

(b)              This Amendment may be executed by the parties hereto
in several counterparts hereof and by the different parties hereto on separate
counterparts hereof, all of which counterparts shall together constitute one
and the same agreement.

 

IN WITNESS WHEREOF, the Bank and the Borrower
have caused this Amendment to be duly executed as a sealed instrument by their
duly authorized representatives, all as of the date and year first above
written.

 

	
   

  	
  CHASE CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:
  

  	
  /s/
  Kenneth L. Dumas

  
	
   

  	
  Name:
  Kenneth L Dumas

  
	
   

  	
  Title:
  CFO & Treasurer

  
	
   

  	
   

  
	
   

  	
  BANK OF AMERICA, N.A.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:
  

  	
  /s/
  Peter McCarthy

  
	
   

  	
  Name:
  Peter McCarthy

  
	
   

  	
  Title:
  Senior Vice President

  

 

3

 

ACKNOWLEDGMENT OF GUARANTORS

 

In
connection with the Loan Agreement as amended hereby, the Guarantors each
hereby (a) consent to all of the terms and conditions of the Loan
Agreement as amended hereby and of the other documents executed in connection
therewith, (b) ratifies and reaffirms all of the terms and provisions of
the Guaranty and each of the other Loan Documents to which such Guarantor is a
party, and (c) acknowledges and agrees that the indebtedness, liabilities and
obligations of the Borrower to Bank which such Guarantor has guaranteed under
the Guaranty includes, without limitation, all of the indebtedness of the
Borrower to the Bank under the Loan Agreement as amended hereby and such
Guaranty remains in full force and effect.

 

IN
WITNESS WHEREOF, the Guarantors have caused this Amendment to be duly executed
as a sealed instrument by their duly authorized representatives, all as of the
date and year first above written.

 

	
  Witness:

  	
   

  	
  RWA, Inc.

  
	
   

  	
   

  	
   

  
	
  /s/
  Paula M. Myers

  	
   

  	
  By:

  	
  /s/
  Peter R. Chase (seal)

  
	
   

  	
   

  	
  Typed
  Name 

  	
  Peter
  R. Chase

  
	
   

  	
   

  	
  Title
  

  	
  CEO &
  Sole Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Witness:

  	
   

  	
  Chase
  Facile, Inc..

  
	
   

  	
   

  	
   

  
	
  /s/
  Paula M. Myers

  	
   

  	
  By:

  	
  /s/
  Peter R. Chase (seal)

  
	
   

  	
   

  	
  Typed
  Name 

  	
  Peter
  R. Chase

  
	
   

  	
   

  	
  Title
  

  	
  CEO &
  Sole Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Witness:

  	
   

  	
  Capital
  Services of New York, Inc..

  
	
   

  	
   

  	
   

  
	
  /s/
  Paula M. Myers

  	
   

  	
  By:

  	
  /s/
  Peter R. Chase (seal)

  
	
   

  	
   

  	
  Typed
  Name 

  	
  Peter
  R. Chase

  
	
   

  	
   

  	
  Title
  

  	
  CEO &
  Sole Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Witness:

  	
   

  	
  C.I.M.
  Industries, Inc..

  
	
   

  	
   

  	
   

  
	
  /s/
  Paula M. Myers

  	
   

  	
  By:

  	
  /s/
  Peter R. Chase (seal)

  
	
   

  	
   

  	
  Typed
  Name 

  	
  Peter
  R. Chase

  
	
   

  	
   

  	
  Title
  

  	
  CEO &
  Sole Director

  
					

 

4

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