Document:

EXHIBIT 10.2(C)

 

SECOND
AMENDMENT TO

AMENDED AND RESTATED LEASE AGREEMENT

 

THIS
SECOND AMENDMENT TO AMENDED AND RESTATED LEASE AGREEMENT (the “Second
Amendment”) is entered into effective as of July 1, 2003 by and
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”).
Lessor and Lessee are sometimes hereafter collectively referred to as the “Parties,” and “Party” shall mean either of them.

 

WHEREAS, Lessor and Rainbow Entertainment, Inc.
(“Rainbow”) entered into an
Amended and Restated Lease Agreement dated January 20, 1995 (the “Lease”); and

 

WHEREAS, 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; and

 

WHEREAS, effective as of October 26, 1995,
the Parties entered into that First Amendment to Amended and Restated Lease
Agreement; and

 

WHEREAS, the Parties hereto desire to further
amend the Lease in accordance with the terms of this Second Amendment.

 

NOW,
THEREFORE, for
and in consideration of the mutual promises, agreements, covenants,
representations and warranties of the Parties contained herein and in the
Lease, as previously amended, the receipt and sufficiency of which are hereby
acknowledged, the Parties agree that the Lease is hereby further amended as
follows:

 

1. Defined Terms. Except as otherwise set
forth herein, all defined terms used in this Second Amendment (which are
capitalized for identification) shall have the meaning assigned to them in the
Lease, as previously amended.

 

2. Rental. Section 4.3 of the Lease
is hereby amended and restated as follows:

 

4.3.
The minimum monthly Base Rent, Base Percentage Rent and Secondary Percentage
Rent for the first renewal term, July 1, 1999, through June 30, 2004,
will be the

 

 

same as for the last four
(4) years of the initial term of the lease. The minimum Base Rent after
the first renewal term and for all succeeding terms shall be $75,000.00 per
month and the Base Percentage Rent shall be a sum of money equal to two percent
(2%) of the total Gross Gaming Revenues (as defined in this Lease) in addition
to the eight percent (8%) Secondary Percentage Rent of annual gross revenues
above $36,575,000.00 calculated in accordance with Section 4.2 of the
Lease and payable as set forth in Section 4.2 of the Lease.

 

3. Sublease. Section 5.3 of the Lease
is hereby amended and restated as follows:

 

5.3 (a) Lessor
acknowledges that pursuant to the terms of that certain Sublease Agreement
dated as of June 26, 1996 (the “Sublease”),
Lessee subleased that certain part of the premises shown in cross-hatched on Exhibit “B”
thereto (the “Subparcel”) to
Sargasso Corporation, an affiliate of Wimar Tahoe Corporation (the “Subtenant”). Lessee represents and warrants
to Lessor that said Sublease is in full force and effect and has not been amended,
and that the Sublease shall not be amended without the prior, written consent
of Lessor. Lessor’s consent shall not be unreasonably withheld provided that
such proposed amendment does not (i) materially reduce the value of the
overall Premises, (ii) adversely affect Lessor’s right to terminate as
provided for in (c) below, (iii) adversely affect or diminish any
other rights of Lessor under the Lease, or (iv) adversely affect or
diminish Lessee’s obligations to Lessor under the Lease.

 

(b) Lessee
shall have the right (with the prior, written consent of Lessor) to sublease up
to two and one-half acres (including the Subparcel) to Wimar Tahoe Corporation
or any affiliate of Wimar Tahoe Corporation on such terms and conditions as
Lessee determines are acceptable in its reasonable business judgment but only
for the purpose of developing, constructing and operating an additional or
expanding or modifying an existing motel, hotel, restaurant, bar, business
office, entertainment facilities for the performing arts, or other related
facilities on the additional subparcel; provided, however, the additional
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

 

2

 

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
additional sublease.

 

(c) In
the event that this Lease is terminated for any reason, Lessee agrees that the
Sublease (and any renewal or extension thereof) and any additional sublease
entered into by Lessee pursuant to 5.3(b) above shall be terminated
simultaneously with the termination of this Lease. Lessee and Subtenant agree
that they shall execute an amendment to the Sublease substantially in the form
attached as Exhibit “A”
hereto, the terms of which are incorporated herein by reference, simultaneously
with the execution of this Second Amendment. Moreover, in the event Lessee
shall enter into an additional sublease as provided for in 5.3(b) above,
Lessee agrees that such additional sublease shall include a provision that it
shall be terminated simultaneously with the termination of this Lease.

 

(d) Subtenant
and any additional subtenant (as provided for in 5.3(b) above) shall have
the right to grant a mortgage on or assign under a deed of trust all of such
subtenant’s sublease interest in such subparcel upon the terms and conditions
set forth in Section 12 of this Lease.

 

4. Taxes. Section 7 of the Lease is
hereby amended and restated as follows:

 

Section 7.
Taxes.
Lessee shall be responsible for the payment of all ad valorem taxes and
assessments attributable to the Premises (and the improvements located thereon)
for 2003 and thereafter during the term of the Lease.

 

5. Improvements. Section 13 of the
Lease is hereby amended and restated as follows:

 

Section 13.
Improvements.
Upon expiration or termination of this Lease, all improvements to the Premises
(including, without limitation, site

 

3

 

improvements, buildings
and Fixtures) shall remain with the Premises and become the property of the
Lessor. For purposes of this section, “Fixtures” shall be deemed to include,
without limitation: permanently installed equipment such as sinks, light
fixtures and chandeliers, bars, dishwashers, stoves, grills, ovens, broilers,
fryers, vent hoods, fire extinguisher systems, coolers, refrigerators,
freezers, warmers, counters and cabinets, ice makers, built-in booths, and
waste disposals; sewage disposal systems; electrical systems (including but not
limited to generators); heating, air conditioning and ventilation systems;
plumbing systems; and telephone systems (excluding the actual telephones).
Lessor agrees that Lessee shall have the right to remove movable personal
property (that is not attached to any of the improvements and that is not
included within the definition of “Fixtures” as set forth above), gaming
equipment, furniture and furnishings, and any vessel, boat or barge operated as
a casino, to the extent Lessee desires to remove such items and to the extent
that such items can be removed without causing structural damage or alterations
to the remaining improvements on the Premises or to the Premises. Upon removal
of any such personal property, Lessee shall properly repair any and all damage
to the Premises (and the remaining improvements located thereon) caused by the
removal. Notwithstanding anything contained herein to the contrary, Lessee
agrees that neither it nor the Subtenant shall remove any buildings, barges,
bridges (or any components thereof) or other improvements located in the area
cross-hatched on Exhibit “B”
hereto, the terms of which are incorporated herein by reference.

 

6. Notice. Section 25 of the Lease is
hereby amended and restated in its entirety as follows:

 

Section 25.
Notice.
Any notice or request to be given or furnished under the Lease by either Party
to the other Party shall be in writing and shall be delivered personally or
sent via facsimile transmission or registered or certified mail, postage prepaid,
or by prepaid overnight delivery service, at the addresses or facsimile numbers
listed below. A notice or request shall be deemed to be given (i) when
delivered personally, (ii) when sent by facsimile transmission, or (iii) when
sent by certified mail or overnight delivery service, at the time of delivery
as indicated on the duly completed U. S. Postal Service return receipt or at
the

 

4

 

time of package pickup as
indicated on the records of or certificates provided by the overnight delivery
service.

 

If to Lessor, to:

 

Mr. D. John Nichols,
President 

Greenville Marine Corporation 

2219 Harbor Front Road 

Post Office Box 539

Greenville, MS 38702-0539

Facsimile No.: 662-332-1010

 

with a copy to:

 

Robert N. Warrington, Esq.

Campbell, DeLong, Hagwood & Wade, LLP

P. O. Box 1856

923 Washington Avenue 

Greenville, Mississippi 38702-1856

Facsimile No.: (662) 334-6407

 

If to Lessee, to:

 

Wimar Tahoe Corporation,
Manager

Greenville Riverboat, LLC

207 Grandview Drive

Ft. Mitchell, KY 41017

Attn: William J. Yung, President

Facsimile: 859-578-1190

 

with a copy to:

 

Sargasso Corporation

207 Grandview Drive

Ft. Mitchell, KY 41017

Attn: William J. Yung, President

Facsimile: 859-578-1190

 

7. Default. A new section 26.5 is added to
the Lease as follows:

 

26.5. It is the intention
of the Parties that the Lessee shall continuously operate a casino on the
Premises throughout the term of this Lease and any renewal or extension
thereof. Accordingly, in the event Lessee shall fail to continuously operate a
casino on the Premises at any time during the term of this Lease or any renewal
or extension thereof, for a period of sixty (60) days, then such failure
to continuously

 

5

 

operate a casino shall
constitute an “Event of Default.” Notwithstanding, the above shall not apply in
the event Lessee shall fail to continuously operate a casino for more than
sixty (60) days due to war, terror attack, civil commotion, flood, fire,
tornado, or other act of God, casualty, governmental regulations or
restrictions, act of any governmental authority, labor difficulties, shortages
of or inability to obtain labor, materials, or equipment, or other
circumstances outside of the direct or indirect control of Lessee, Subtenant,
Wilmar Tahoe Corporation, Columbia Sussex Corporation, William J. Yung, JMBS
Casino, LLC, Joseph A. Yung, any future subtenant, (including their respective
successors and assigns) or any of their respective owners, shareholders, directors,
officers, agents or trustees, or any other person, entity, trust, or
association related to, affiliated with, organized by, owned by, or otherwise
related to or controlled by any of them; provided that Lessee shall be
diligently pursuing restoration of the Premises and the reopening of the
casino.

 

8. Renewal. Lessor acknowledges that by
execution of this Second Amendment Lessee has exercised its right to renew the
Lease for another five (5) year period beginning on July 1, 2004.

 

9. Conflicting Provisions. In the event of
any conflict between the terms of this Second Amendment and any other provision
of the Lease or the First Amendment, the terms of this Second Amendment shall
be deemed to control.

 

10. Agreement Unchanged. The Parties agree
that except as set forth in this Second Amendment, the Lease, as previously
amended by the First Amendment, shall remain in full force and effect.

 

11. Counterparts. The Parties agree that
this Second Amendment may be executed in one or more counterparts, each of
which shall be deemed an original, but all of which shall constitute but one
document.

 

-Remainder of Page Intentionally Left Blank-

 

6

 

IN
WITNESS WHEREOF,
the Parties have caused this Second Amendment to be executed and delivered by
their duly authorized representatives as of the day and year first above
written.

 

	
   

  	
  GREENVILLE
  MARINE CORPORATION,

  
	
   

  	
  A
  Mississippi corporation

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ D.
  John Nichols

  
	
   

  	
  D.
  John Nichols,

  
	
   

  	
  President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  GREENVILLE
  RIVERBOAT, LLC,

  
	
   

  	
  A
  Mississippi limited liability company

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  Wimar
  Tahoe Corporation,

  
	
   

  	
  A
  Nevada corporation, its Sole Manager

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  William J. Yung

  
	
   

  	
  William
  J. Yung, President

  

 

SARGASSO
CORPORATION, a
Kentucky corporation, executes this Second Amendment for purposes of
acknowledging, consenting and agreeing to the amendment and restatement of
Sections 5 and 13 of the Lease and agreeing to execute and deliver the
First Amendment to Sublease Agreement in the form attached as Exhibit “A” hereto, the terms of
which are incorporated herein by reference.

 

	
   

  	
  SARGASSO
  CORPORATION, a

  
	
   

  	
  Kentucky
  corporation

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  William J. Yung

  
	
   

  	
  Name

  	
  William
  J. Yung

  
	
   

  	
  Title:

  	
  President

  

 

7

 

STATE OF
MISSISSIPPI

COUNTY OF WASHINGTON

 

PERSONALLY
APPEARED BEFORE ME,
the undersigned authority in and for the said county and state, on this 8th day of August,
2003, within my jurisdiction, the within named D. John Nichols, who acknowledged that he is President of
Greenville Marine Corporation, a Mississippi corporation, and that for and on
behalf of said corporation and as its act and deed, he executed the foregoing
instrument after having first been duly authorized so to do.

 

	
   

  	
  /s/ [ILLEGIBLE]

  
	
   

  	
  Notary
  Public

  

 

My
commission expires:

11/21/03

STATE OF
KENTUCKY

COUNTY
OF KENTON

 

PERSONALLY
APPEARED BEFORE ME,
the undersigned authority in and for the said county and state, on this 11th day of August,
2003, within my jurisdiction, the within named William J. Yung, who acknowledged that he is President of
Wimar Tahoe Corporation, a Nevada corporation, the sole Manager of Greenville
Riverboat, LLC, a Mississippi limited liability company, and that for and on
behalf of said limited liability company and as its act and deed, he executed
the foregoing instrument after having first been duly authorized so to do.

 

	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/
  Colleen Machcinski

  
	
   

  	
   

  	
  Notary
  Public

  
	
   

  	
   

  	
   

  
	
  My commission expires:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  COLLEEN
  MACHCINSKI

  	
   

  
	
   

  	
  Notary
  Public, Kentucky State at Large

  	
   

  
	
   

  	
  My
  Commission Expires Sept. 16, 2006

  	
   

  
					

 

8

 

STATE OF
KENTUCKY

COUNTY
OF KENTON

 

PERSONALLY
APPEARED BEFORE ME,
the undersigned authority in and for the said county and state, on this 11th day of August,
2003, within my jurisdiction, the within named William J. Yung, III, who
acknowledged that he is the President of Sargasso Corporation, a Kentucky
corporation, and that for and on behalf of said corporation and as its act and
deed, he executed the foregoing instrument after having first been duly
authorized so to do.

 

	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/
  Colleen Machcinski

  
	
   

  	
   

  	
  Notary
  Public

  
	
   

  	
   

  	
   

  
	
  My  commission expires:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  COLLEEN
  MACHCINSKI

  	
   

  
	
   

  	
  Notary
  Public, Kentucky State at Large

  	
   

  
	
   

  	
  My
  Commission Expires Sept. 16, 2006

  	
   

  
					

 

9Exhibit 10.2(D)

 

THIRD AMENDMENT

TO AMENDED AND RESTATED LEASE AGREEMENT

 

This
Third Amendment to that certain Amended and Restated Lease Agreement (the “Third
Amendment”) is entered into effective as of March 4, 2010, between GREENVILLE MARINE CORPORATION (“Lessor”) and GREENVILLE RIVERBOAT, LLC (“Lessee”). Lessor and Lessee may
hereinafter be referred to individually as a “Party” or collectively as the “Parties.”

 

WHEREAS, Lessor and Rainbow Entertainment, Inc. (“Rainbow”)
entered into an Amended and Restated Lease Agreement as of January 20,
1995 (the “Lease Agreement”), pursuant to which Rainbow leased from Lessor
certain real property and improvements thereon (the “Premises”);

 

WHEREAS, by Assignment and Assumption of Lease as of October 24,
1995, Rainbow assigned all of its rights, title and interest in and to the
Lease Agreement to Lessee;

 

WHEREAS, effective as of October 26, 1995, the Parties
entered into that First Amendment to Amended and Restated Lease Agreement;

 

WHEREAS, effective as of July 1, 2003, the Parties
entered into that Second Amendment to Amended and Restated Lease Agreement; and

 

WHEREAS, the Parties desire to further amend the Lease
Agreement, as previously amended, as set forth in this Third Amendment.

 

NOW, THEREFORE, for and in consideration of the mutual
covenants and set forth herein and in the Lease Agreement, the receipt and
sufficiency of which are hereby acknowledged, the Parties agree that the Lease
Agreement is further amended as follows:

 

1.             Prior Sublease.  The Parties acknowledge that in accordance
with Section 5.3 of the Lease Agreement, Lessee subleased to Sargasso
Corporation a portion of the Premises (the “Subparcel”); pursuant to the terms
of that certain Sublease Agreement dated as of June 26, 1996 (the “Sublease”,
and that pursuant to the terms of that certain Restaurant Lease as of September 26,
2007 (the “Restaurant Lease”), Sargasso Corporation sub-subleased a portion of
the Subparcel to Lessee.  The Parties
further acknowledge that Lessee and Sargasso Corporation terminated both the
Sublease and the Restaurant Lease as of December 31, 2009; and Lessor, to
the extent required, consents to such termination.  The Parties further agree that Section 5.3
of the Lease Agreement is hereby deleted in its entirety.

 

2.             Notice.  Section 25 of the Lease Agreement is
hereby amended and restated in its entirety as follows:

 

 

Section 25.  Notice.  Any notice or request to be given or
furnished under the Lease Agreement by either Party to the other Party shall be
in writing and shall be delivered personally or sent via facsimile transmission
or registered or certified mail, postage prepaid, or by prepaid overnight
delivery service, at the addresses or facsimile numbers listed below.  A notice or request shall be deemed to be given
(i) when personally delivered, (ii) when sent by facsimile
transmission, (iii) at the time of delivery as indicated by the duly
completed U.S. Postal Service return receipt, or (iv) at the time of
package pickup or receipt as indicated on the records of or the certificates
provided by the overnight delivery service, as applicable.

 

If
to Lessor, to:

 

Mr. D.
John Nichols, President

Greenville
Marine Corporation

2219
Harbor Front Road (if by personal delivery or overnight delivery service)

Greenville,
MS  38701

Post
Office Box 539 (if by registered or certified mail)

Greenville,
MS 38702-0539

Facsimile
number:  662-332-1010

 

With
a copy to:

 

Robert
N. Warrington, Esquire

Campbell
DeLong, LLP

P.O. Box
1856

932
Washington Avenue

Greenville,
MS 38702-1856

Facsimile
number:  662-334-6407

 

If
to Lessee, to:

 

Scott
C. Butera, President and Chief Executive Officer

Greenville
Riverboat, LLC

c/o
Tropicana Entertainment Holdings, LLC

3930
Howard Hughes Parkway, Fourth Floor

Las
Vegas, NV 89169

Facsimile
number:  702-473-2697

 

With
a copy to:

 

Scott
E. Andress, Esquire

Balch &
Bingham LLP

401
E. Capitol Street, Suite 200

Jackson,
MS 39201

Facsimile
number:  601-961-4466

 

 

2.  Renewal.  The Lessor acknowledges that the Lessee exercised
its right to renew the Lease Agreement for another five (5) year period
beginning on July 1, 2009 and ending on June 30, 2014.

 

3.  Conflicting Provisions.  In the event of any conflict between the
terms of this Third Amendment and any other provision of the Lease Agreement,
as previously amended, the terms of the Third Amendment shall be deemed to
control.

 

4.  Remainder of
Lease Agreement Unchanged.  The Parties agree that except as set forth in
the Third Amendment, the Lease Agreement, as previously amended, shall remain
in full force and effect.

 

5.  Counterparts.  The Parties agrees that this Third Amendment
may be executed in one or more counterparts, each of which shall be deemed an
original, but all of which shall constitute one document.

 

IN WITNESS WHEREOF, the Parties have caused
this Third Amendment to be executed and delivered by their duly authorized
representatives as of the day and year first written above.

 

 

	
   

  	
  GREENVILLE
  MARINE CORPORATION

  
	
   

  	
   

  
	
   

  	
  /s/ D. John Nichols

  
	
   

  	
  By:

  	
  D. John Nichols

  
	
   

  	
  Its:

  	
  President

  
	
   

  	
   

  
	
   

  	
  GREENVILLE RIVERBOAT, LLC

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  Tropicana Entertainment Holdings, LLC, its

  
	
   

  	
   

  	
  Manager

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Scott Butera

  
	
   

  	
  Its: 

  	
  CEO and President

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