Document:

1st Amendment to the Partnership Interest Purchase Agreement

First Amendment to the 

Partnership Interest Purchase Agreement 

Dated May 6, 2004 

        The
Partnership Interest Purchase Agreement by and among Anderson Park, Inc., an Indiana
corporation (“Seller”), Churchill Downs Management Company,
a Kentucky corporation (“CDMC”), and Centaur Racing, LLC,
an Indiana limited liability company (“Buyer”), dated as of
the 16th day of October 2001 (the “Purchase
Agreement”), is hereby amended by this First Amendment
(“Amendment”) as follows: 

W I T N E S S E T H 

        WHEREAS,
Seller, CDMC and Buyer have entered into the Purchase Agreement; 

        WHEREAS, pursuant
to Section 10.10 of the Purchase Agreement, the parties may amend, modify and supplement
the Purchase Agreement by mutual agreement in writing; 

        WHEREAS,
the Selling Parties granted to Buyer a First Option and a Second Option under the Purchase
Agreement; 

        WHEREAS,
Buyer has extended the exercise date for the First Option to June 30, 2004 by delivering
written notice to the Selling Parties on or before August 31, 2003, with payment in the
amount of $250,000, as permitted by the Purchase Agreement; 

        WHEREAS,
Buyer and the Selling Parties desire to amend the Purchase Agreement to permit the further
extension of the First Option Period and to extend the Second Option Period, as provided
in this Amendment. 

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

             1.       
          Amendment of First Option Period. The penultimate sentence of Section 1.4
          of the Purchase Agreement is amended to read as follows: 

	  	
Buyer
may exercise the First Option by delivering written notice to the Selling Parties of its
intention to do so on or before August 31, 2003 (“First Option
Period”); provided, however, that Buyer may extend the
First Option Period until June 30, 2004 by delivering written notice to the Selling
Parties on or before August 31, 2003 along with a non-refundable payment in the amount of
$250,000 in immediately available funds (“First Extension”);
provided, further, that Buyer may further extend the First Option Period
until August 31, 2005 by delivering written notice to the Selling Parties on or before
June 30, 2004 along with a non-refundable payment in the amount of $250,000 in immediately
available funds (“Second Extension”). 

	 
	 
	
               Page 1

     
        2.       
          Amendment of Second Option Period. The penultimate sentence of Section
          1.5 of the Purchase Agreement is amended to read as follows: 

	  	
Buyer
may exercise the Second Option by delivering written notice to the Selling Parties of its
intention to do so between December 1, 2004 and March 1, 2005 (“Second Option
Period”); provided, however, that if Buyer timely exercises the
Second Extension, the Second Option Period shall be extended automatically to between
December 1, 2005 and March 1, 2006. 

             3.       
          Regulatory Approval for Amendment. This Amendment is subject to receipt
          of all necessary Regulatory Approvals and shall be effective upon the later of
          the date first written above or the date on which all Regulatory Approvals
          required by applicable Law are received. 

             4.       
          Capitalized Terms. All capitalized terms used herein shall have the same
          meaning as set forth in the Purchase Agreement unless otherwise herein defined. 

             5.       
          Conflicting Terms. Except as herein specifically provided otherwise, all
          terms and conditions of the Purchase Agreement, including the terms relating to
          the First Option and Second Option, shall remain in full force and effect and be
          unaffected hereby. In the event of a conflict between the terms of this
          Amendment and the Purchase Agreement, this Amendment shall be controlling. 

             6.       
          Successors and Assigns. This Amendment shall be binding upon and inure to
          the benefit of the parties hereto, and their respective successors and assigns,
          as permitted by the Purchase Agreement. 

             7.       
          Severability. If any provision of this Amendment is held invalid by any
          tribunal in a final decision from which no appeal is or can be taken, such
          provision shall be deemed modified to eliminate the invalid element, and, as so
          modified, such provision shall be deemed a part of this Amendment. If it is not
          possible to modify any such provision to eliminate the invalid element, such
          provision shall be deemed eliminated from this Amendment. The invalidity of any
          provision of this Amendment shall not affect the force and effect of the
          remaining provisions. 

             8.       
          Counterparts. This Amendment may be executed in any number of
          counterparts and each such counterpart shall, for all purposes, be deemed an
          original. Facsimile transmission of a counterpart hereto shall be deemed an
          original hereof. 

	 
	 
	
               Page 2

        IN
WITNESS WHEREOF, the parties have caused this Amendment to be executed on the date first
above written and agree to the foregoing. 

	"SELLER"

Anderson Park, Inc.

By:/s/Richard B. Moore
Richard B. Moore
President and General Manager

	"CDMC"

Churchill Downs Management Company

By:/s/Vicki L. Baumgardner
Vicki L. Baumgardner
Vice President, Finance & Administrative, Treasurer 
	"BUYER"

Centaur Racing, LLC

By:Centaur, Inc., its sole member

 By:/s/Jeffrey M. Smith

Jeffrey M. Smith
CEO Racing Operations	

Centaur, Inc.
as guarantor

By:/s/Jeffrey M. Smith
Jeffrey M. Smith
CEO, Racing Operations

	 
	 
	
               Page 32004A Amendment to Loan Documents

2004A AMENDMENT TO
LOAN DOCUMENTS 

        This
is a 2004A Amendment to Loan Documents dated as of June 1, 2004 (the
“Amendment”), among CHURCHILL DOWNS INCORPORATED (the “Borrower”), the
GUARANTORS (defined below), and BANK ONE, NA, headquartered in Chicago, Illinois
(successor by merger to Bank One, Kentucky, NA) a national banking association with an
office in Louisville, Kentucky, as contractual representative for the LENDERS (defined
below) as provided in the Credit Agreement (defined below) (in such capacity, the
“Agent”). 

RECITALS 

         A.       
          The Borrower, the Agent, the Guarantors (defined in the Credit Agreement), and
          the Lenders (defined in the Credit Agreement), party thereto, entered into a
          Credit Agreement dated as of April 3, 2003 (the “Credit Agreement”). 

         B.       
          The Loans described in the Credit Agreement are secured by the Collateral
          (defined in the Credit Agreement and other Loan Documents). 

         C.       
          The Borrower has requested the Agent and the Lenders to make changes to the
          Credit Agreement and other Loan Documents for the purpose of adding provisions
          to or modifying certain provisions of the Loan Documents. 

        NOW,
THEREFORE, the Borrower, the Guarantors and the Agent agree as follows: 

         1.       
          Definitions. Capitalized terms used but not otherwise defined in this
          Amendment shall have the meanings given them in the Credit Agreement. 

         2.       
          Amendments to the Credit Agreement. The Credit Agreement is hereby
          amended, modified and restated as follows: 

         (a)       
          Amendment of ARTICLE I Definitions. The following definitions set forth
          in Article I of the Credit Agreement are hereby amended and restated to read in
          their entirety as follows: 

	  	        “Bank
One” means Bank One, NA, a national banking association headquartered in Chicago,
Illinois, with offices in Louisville, Kentucky, successor by merger to Bank One, Kentucky,
NA, in its individual capacity, and its successors. 

	  	        “Excluded
Group” means and includes Duchossois Industries, Inc. and its Affiliates. 

	  	        “Fixed
Charges” means for any period of determination, the sum of interest expense, income
tax expenses, scheduled principal installments on Indebtedness with maturities greater
than one year (as adjusted for prepayments), dividend payments, and scheduled payments
under Capitalized Leases. 

	 
	 
	
               Page 1

	  	        “Fixed
Charge Coverage Ratio” means, as of any date of calculation, the ratio of (a)
Consolidated Adjusted EBITDA less Capital Expenditures (excluding (1) Capital Expenditures
consisting solely of consideration paid or payable for Permitted Acquisitions, and (2)
Capital Expenditures expended under and in compliance with the Master Plan for Capital
Expenditures) to (b) Consolidated Fixed Charges, in each instance computed as provided in
Section 6.24.1 and in accordance with Agreement Accounting Principles. 

         (b)       
          Additions to ARTICLE I Definitions. Article I of the Credit Agreement is
          hereby supplemented to add the following definitions which shall read in their
          respective entireties as follows: 

	  	        “First
Amendment” means the 2004A Amendment to Loan Documents, dated as of June 1, 2004
among the Agent, the Guarantors and the Borrower. 

	  	        “PSL”
means any agreement between any Loan Party and a Person providing for a right to purchase
or otherwise use seating accommodations in certain seating locations at the
Borrower’s Property located on Central Avenue in Louisville, Kentucky, known as the
Churchill Downs racetrack facility, and which agreement does not conflict with any of the
Loan Documents, and/or result in a Default or Unmatured Default, and expressly does not
result in, or require, the creation or imposition of any Lien in, leasehold interest in,
rights in, claim to, easement or easement by estoppel over, or similar rights or interests
in any Property of any such Loan Party, or result in, or require, the creation or
imposition of any right to possess specific property (other than the contractual right to
purchase or otherwise use the subject seating accommodations subject to the terms of such
agreement). 

	  	        “PSL
Financing” means any instance in which, pursuant to a PSL Financing Program, a PSL
Purchaser finances its obligations under a PSL, in whole or in part, and which does not
conflict with any of the Loan Documents, and/or result in a Default or Unmatured Default. 

	  	        “PSL
Financing Program” means a financing arrangement program established by any Loan
Party with a financial institution or other Person pursuant to which such financial
institution or other Person agrees to finance, in whole or in part, PSL Purchasers’
obligations under the PSLs, and which arrangement does not conflict with any of the Loan
Documents, and/or result in a Default or Unmatured Default. 

	 
	 
	
               Page 2

	  	        “PSL
Buyback/Guarantee” means any promise to repurchase or buy back, guarantee or
otherwise provide credit support, directly or indirectly, given by any Loan Party in favor
of any financial institution or other Person in connection with an obligation arising
under a PSL Financing. 

	  	        “PSL
Purchaser” means the Person who enters into a PSL with any Loan Party.  

         (c)       
          Amendment of Section 6.24.1—Fixed Charge Coverage Ratio. Section
          6.24.1 of the Credit Agreement is hereby amended and restated to read in its
          entirety as follows: 

	  	
6.24.1
Fixed Charge Coverage Ratio. The Borrower will not permit the Fixed Charge Coverage
Ratio, determined as of the end of each of its fiscal quarters for the then most-recently
ended four fiscal quarters, of (i) Consolidated Adjusted EBITDA less Capital Expenditures
(excluding (a) Capital Expenditures consisting solely of consideration paid or payable for
Permitted Acquisitions, and (b) Capital Expenditures expended under and in compliance with
the Master Plan for Capital Expenditures), to (ii) Consolidated Fixed Charges, all
calculated for the Loan Parties on a consolidated basis and in accordance with Agreement
Accounting Principles, to be less than 1.35 to 1.0. 

         (d)       
          Amendment of Section 6.34—Contingent Obligations. Section 6.34 of
          the Credit Agreement is hereby amended and restated in its entirety as follows: 

	  	
6.34
Contingent Obligations. The Borrower will not, nor will it permit any Subsidiary
(except for the Excluded Subsidiaries) to, make or suffer to exist any Contingent
Obligation (including, without limitation, any Contingent Obligation with respect to the
obligations of a Subsidiary), except (i) by endorsement of instruments for deposit or
collection in the ordinary course of business, (ii) the Reimbursement Obligations, (iii)
for the Guaranty; (iv) for PSL Buyback/Guarantee(s) not to exceed $15,000,000 at any one
time in the aggregate for all such PSL Buyback/Guarantees; and (v) guaranties of the
obligations of Loan Parties not to exceed $10,000,000 at any one time in the aggregate for
all such guaranties. 

         3.       
          Certain References in the Loan Documents. 

         (a)       
          References to Bank One. All references in all Loan Documents to
          “Bank One, Kentucky, NA” and/or “Bank One” shall be deemed
          to be references to Bank One, NA, headquartered in Chicago, Illinois, with
          offices in Louisville, Kentucky. 

         (b)       
          References to Loan Documents. All references in the Loan Documents to the
          “Loan Documents” shall be deemed to include a reference to this
          Amendment and any and all other agreements, instruments and documents executed
          and/or delivered in connection with this Amendment. All references to the
          “Credit Agreement” in the Loan Documents shall be deemed to include
          references to the Credit Agreement as amended by this Amendment. 

	 
	 
	
               Page 3

         4.       
          Conditions Precedent. The obligation of the Lenders and the Agent to
          enter into this Amendment shall be conditioned upon the fulfillment of all the
          following conditions: 

         (a)       
          Executed Agreements. The Borrower and the Guarantors shall have delivered
          to the Agent duly authorized and fully executed originals of this Amendment. 

         (b)       
          Representations and Warranties. Each and every representation and
          warranty made by or on behalf of the Borrower and/or any Guarantor relating to
          this Amendment or any of the other Loan Documents, as modified by this Amendment
          shall be true, complete and correct on and as of the date of this Amendment and
          as of the date this Amendment is actually executed and delivered. 

         (c)       
          No Defaults. There exists no Default or Unmatured Default. 

         (d)       
          Other Documents. The Borrower shall have delivered to the Agent any and
          all other agreements, instruments and documents as the Agent may reasonably have
          requested in order to further protect its security or evidence compliance by the
          Borrower and /or any other Loan Party with this Amendment and the other Loan
          Documents. 

         (e)       
          Agent’s Fees and Expenses. The Borrower shall have paid to the Agent
          the Agent’s fees and expenses as of the date of this Agreement in
          accordance with Section 7 of this Amendment and Section 9.6 of the Credit
          Agreement. 

         (f)       
          Resolutions. The Borrower and the Guarantors shall have delivered
          certified copies of appropriate resolutions (1) authorizing the execution of
          this Amendment and any and all other documents, instruments and agreements
          referred to herein which are required to be executed and delivered by the
          Borrower and the Guarantors as appropriate, and (2) authorizing consummation of
          the transactions contemplated by this Amendment. 

         (g)       
          Legal Opinion. The Agent shall have received the legal opinion of Wyatt,
          Tarrant & Combs, LLP as counsel for the Borrower and the Guarantors, and the
          legal opinion of Rebecca C. Reed, general counsel to the Borrower and the
          Guarantors, addressed to the Agent and the Lenders, dated the date this
          Amendment is delivered, satisfactory to the Agent and its counsel. 

         (h)       
          Incumbency Certificates. The Agent shall have received certificates
          certifying the names of the Persons of the Borrower and the Guarantors
          authorized to sign this Amendment and the other Loan Documents that each has
          signed or will sign in connection with this Amendment, together with the true
          signatures of such Persons. 

         5.       
          Reaffirmations and Consents. The Borrower and the Guarantors: 

         (a)       
          Consent. Consent to the transactions contemplated in this Amendment. 

	 
	 
	
               Page 4

         (b)       
          Reaffirm. Reaffirm their respective obligations under any and all of the
          Loan Documents and any and all other agreements, instruments and documents to
          which any of them is a party and under which any Lender has any rights or
          obligations and which is or may be related in any way to the agreements,
          instruments and documents mentioned in or affected by this Amendment, or the
          Credit Agreement or any of the other Loan Documents as amended by this
          Amendment. 

         (c)       
          Agree. Agree that all of the Loan Documents remain in full force
          and effect, as expressly modified or altered by or in connection with this
          Amendment. 

         6.       
          Representations and Warranties. To induce the Lenders and the Agent to
          enter into this Agreement, the Borrower and the Guarantor agree that the
          representations and warranties made by the Loan Parties, as set forth in the
          Credit Agreement as amended by this Amendment, are hereby remade and are
          incorporated by reference into this Amendment as if set out in full, provided
          that (a) Section 5.15 is modified to the effect that the Borrower holds
          withheld 401(k) plan deferrals, which are regularly withheld from employee
          paychecks and promptly deposited into the Borrower’s 401(k) trust, and (b)
          Schedules 1, 2, 3, 5.22, 5.24, 5.25 and 5.26 to the Credit Agreement are
          amended, restated and replaced by Schedules 1, 2, 3, 5.22, 5.24, 5.25 and 5.26
          to the Amendment, respectively. It is understood and agreed that any
          representation or warranty which operates as of a specific date by its terms
          shall be required to be true and correct only as of such specific date with
          respect to that operation. 

         7.       
          Costs and Expenses. The Borrower agrees to reimburse the Agent for the
          costs and expenses incurred by the Agent and the Lenders in connection with the
          transactions contemplated by this Amendment, including, but not limited to, the
          reasonable fees and disbursements of counsel for the Agent and the Lenders
          incurred in preparing this Amendment and the documents to be executed pursuant
          to this Amendment all in accordance with Section 9.6 of the Credit Agreement. 

         8.       
          Breach of This Agreement. Any failure of the Borrower or any other Loan
          Party to observe and perform all of the terms, conditions and provisions of this
          Amendment, which is not remedied within five days after written notice from
          Agent or any Lender, shall constitute a Default. 

         9.       
          Miscellaneous. 

         (a)       
          Entire Agreement. This Amendment and the agreements, instruments and
          other documents referred to herein, constitute the entire agreement of the
          parties with respect to, and supersede all prior understandings of the parties
          with respect to, the subject matter hereof and thereof. No change, modification,
          addition, or termination of this Amendment shall be enforceable unless in
          writing and signed by the party against whom enforcement is sought. 

         (b)       
          Governing Law. This Amendment and the related writings and the respective
          rights and obligations of the parties shall be governed by, and construed and
          enforced in accordance with, the laws (without regard to conflicts of laws
          rules) of the Commonwealth of Kentucky, except to the extent the laws of any
          other state, province or country where security for the Loans is located dictate
          that the laws of such other state, province or country shall govern the
          enforcement of the rights of the Agent or any Lender in such security. 

	 
	 
	
               Page 5

         (c)       
          Counterparts. Each party to this Amendment may sign upon a separate copy,
          in which case one counterpart of this Amendment shall consist of enough of such
          signed copies to reflect the signature of all parties hereto. This Amendment may
          be executed in two or more counterparts, each of which shall be deemed an
          original, and it shall not be necessary in making proof of this Amendment or the
          terms hereof to produce or account for more than one of such counterparts. 

         (d)       
          Headings. The headings used in this Amendment have been included solely
          for ease of reference and shall not be considered in the interpretation or
          construction of this Amendment. 

         (e)       
          Severability. If any court shall finally determine that any part, term or
          provision of this Amendment is in any way unenforceable, such part, term or
          provision shall be reduced to the extent necessary to make such provision
          enforceable to the greatest extent allowed by law. Consistent with the
          foregoing, if any provision of this Amendment or its application shall be
          invalid, illegal or unenforceable in any respect, the validity, legality and
          enforceability of all other applications of that provision and of all other
          provisions and applications of this Amendment shall not in any way be affected
          or impaired. 

         (f)       
          Binding Effect. This Amendment shall be binding upon, and shall inure to
          the benefit of, the Lenders, the Agent, the Borrower, and the other Loan
          Parties, as well as their respective successors and assigns. Pursuant to the
          provisions of Section 8.2 of the Credit Agreement, the Agent enters into this
          Amendment with the consent in writing of the Required Lenders. Accordingly, this
          Amendment amends the Credit Agreement and other Loan Documents as and to the
          extent provided herein and is binding upon all of the Lenders. 

         (g)       
          No Waiver or Course of Dealing. The execution and delivery of this
          Amendment by the Lenders and the Agent does not waive any right that the Lenders
          or the Agent might have under any of the Loan Documents except for the specific
          modifications, waivers, and amendments contained in this Amendment. Neither this
          Amendment, nor earlier amendments or modifications of any of the Loan Documents,
          creates any course of dealing among the Lenders, the Agent, the Loan Parties or
          any other Person, and none of the foregoing nor any other Person should infer
          that the Agent or any Lender will enter into any other or future amendment or
          modification of any of the Loan Documents in the future, whether similar or
          dissimilar to this Amendment. 

         (h)       
          CHOICE OF LAW. THE LOAN DOCUMENTS (OTHER THAN THOSE CONTAINING A
          CONTRARY EXPRESS CHOICE OF LAW PROVISION) SHALL BE CONSTRUED IN ACCORDANCE WITH
          THE INTERNAL LAWS (WITHOUT REGARD TO THE CONFLICT OF LAWS PROVISIONS) OF THE
          COMMONWEALTH OF KENTUCKY, BUT GIVING EFFECT TO FEDERAL LAWS APPLICABLE TO
          NATIONAL BANKS. 

	 
	 
	
               Page 6

         (i)       
          CONSENT TO JURISDICTION. THE LOAN PARTIES HEREBY IRREVOCABLY SUBMIT TO
          THE NON-EXCLUSIVE JURISDICTION OF ANY UNITED STATES FEDERAL OR COMMONWEALTH OF
          KENTUCKY COURT SITTING IN LOUISVILLE, KENTUCKY IN ANY ACTION OR PROCEEDING
          ARISING OUT OF OR RELATING TO ANY LOAN DOCUMENT(S) AND THE LOAN PARTIES HEREBY
          IRREVOCABLY AGREE THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING MAY BE
          HEARD AND DETERMINED IN ANY SUCH COURT AND IRREVOCABLY WAIVE ANY OBJECTION THEY
          MAY NOW OR HEREAFTER HAVE AS TO THE VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING
          BROUGHT IN SUCH A COURT OR THAT SUCH COURT IS AN INCONVENIENT FORUM. NOTHING
          HEREIN SHALL LIMIT THE RIGHT OF THE AGENT, THE COLLATERAL AGENT, THE LC ISSUER
          OR ANY LENDER TO BRING PROCEEDINGS AGAINST ANY LOAN PARTY IN THE COURTS OF ANY
          OTHER JURISDICTION. ANY JUDICIAL PROCEEDING BY ANY LOAN PARTY AGAINST THE AGENT,
          THE LC ISSUER OR ANY LENDER OR ANY AFFILIATE OF THE AGENT, THE LC ISSUER OR ANY
          LENDER INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER IN ANY WAY ARISING OUT OF,
          RELATED TO, OR CONNECTED WITH ANY LOAN DOCUMENT SHALL BE BROUGHT ONLY IN A COURT
          IN LOUISVILLE, KENTUCKY. 

         (j)       
          WAIVER OF JURY TRIAL. EACH LOAN PARTY, THE AGENT, THE LC ISSUER AND
          EACH LENDER HEREBY WAIVE TRIAL BY JURY IN ANY JUDICIAL PROCEEDING INVOLVING,
          DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER SOUNDING IN TORT, CONTRACT OR
          OTHERWISE) IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH ANY LOAN
          DOCUMENT OR THE RELATIONSHIP ESTABLISHED THEREUNDER. 

     
"Exhibits and schedules have been omitted because they are not
material.  Copies of such omitted exhibits and schedules will be
supplementally furnished to the Commission upon request."

	 
	 
	
               Page 7

        IN
WITNESS WHEREOF, the parties have executed and delivered this Amendment as of the date set
forth in the preamble hereto, but actually on the dates set forth below. 

	 
	 
	  	
CHURCHILL DOWNS INCORPORATED

	  	
By /s/Michael E. Miller 

Executive Vice President and Chief Financial Officer

June 30, 2004

	  	
GUARANTORS:

	  	
CHURCHILL DOWNS MANAGEMENT COMPANY

	  	
By /s/Michael E. Miller 

Assistant Treasurer

June 30, 2004

	  	
CHURCHILL DOWNS INVESTMENT

	  	
By /s/Michael E. Miller 

President

June 30, 2004

	  	
RACING CORPORATION OF AMERICA

	  	
By /s/Michael E. Miller 

President

June 30, 2004

	 
	 
	
               Page 8

	 
	 
	  	
CALDER RACE COURSE, INC.

	  	
By /s/Michael E. Miller 

Vice President

June 30, 2004

	  	
TROPICAL PARK, INC.

	  	
By /s/Michael E. Miller 

Vice President

June 30, 2004

	  	
CHURCHILL DOWNS CALIFORNIA COMPANY

	  	
By /s/Michael E. Miller 

Vice President

June 30, 2004

	  	
ARLINGTON PARK RACECOURSE, LLC

	  	
By /s/Michael E. Miller 

Vice President

June 30, 2004

	 
	 
	
               Page 9

	 
	 
	  	
ARLINGTON MANAGEMENT SERVICES, LLC 

	  	
By /s/Michael E. Miller 

Vice President

June 30, 2004

	  	
ARLINGTON OTB CORP. 

	  	
By /s/Mary Ann Guenther

Secretary

June 30, 2004

	  	
Quad City Downs 

	  	
By /s/Mary Ann Guenther

Secretary

June 30, 2004

	  	
CDIP, LLC 

	  	
By /s/Michael E. Miller 

Vice President

June 30, 2004

	  	
CDIP HOLDINGS, LLC 

	  	
By /s/Michael E. Miller 

Vice President

June 30, 2004

	 
	 
	
               Page 10

	 
	 
	  	
ELLIS PARK RACE COURSE, INC. 

	  	
By /s/Michael E. Miller 

Vice President

June 30, 2004

	 
	 
	
               Page 11

	 
	 
	  	
BANK ONE, NA, 
 as a Lender and as Agent 

	  	
By /s/H. Joseph Brenner

H. Joseph Brenner

First Vice President

Date: June 30, 2004

	 
	 
	
               Page 12

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