Document:

<PAGE>
                                                                     Exhibit 4.2

                                ESCROW AGREEMENT

         THIS ESCROW AGREEMENT (this "Agreement") is made this      day of
         200 , by and between Granite Falls Community Ethanol Plant, LLC, a
Minnesota limited liability company ("GFCEP") and Granite Falls Bank as escrow
agent (the "Escrow Agent").

                              W I T N E S S E T H:

         WHEREAS, GFCEP proposes to offer a minimum 18,000 and a maximum of
30,000 of its Membership Units (the "Units") at a price of $1,000 per Unit, in
minimum blocks of five (5) Units in an offering in the State of Minnesota and
possibly other states, made pursuant to a registration under the provisions of
the Securities Act of 1933, as amended (the "Offering");

         WHEREAS, GFCEP has filed a registration statement to register the Units
with the Securities and Exchange Commission, the State of Minnesota and
possibly other states;

         WHEREAS, GFCEP will allow investors in the Offering to deliver the
purchase price of the subscribed Units in installments; and

         WHEREAS, GFCEP desires to comply with the requirements of the
Securities Act of 1933 and of the various state regulatory statutes and
regulations, and desires to protect the investors in the Offering by providing,
under the terms and conditions herein set forth, for the return to subscribers
of the money which they may pay on account of purchases of Units in the Offering
if the Minimum Escrow Deposit (hereinafter defined) is not deposited with the
Escrow Agent.

         NOW, THEREFORE, in consideration of the mutual covenants herein
contained and for other good and valuable consideration, the receipt and
sufficiency of which is acknowledged, the parties agree as follows:

         1. ACCEPTANCE OF APPOINTMENT. Granite Falls Bank hereby agrees to act
as escrow and impoundment agent under this Agreement. The Escrow Agent shall
have no duty to enforce any provision hereof requiring performance by any other
party hereunder.

         2. ESTABLISHMENT OF ESCROW ACCOUNT. An escrow account (the "Escrow
Account") is hereby established with the Escrow Agent for the benefit of the
investors in the Offering. Except as specifically provided in this Agreement,
the Escrow Account shall be created and maintained subject to the customary
rules and regulations of the Escrow Agent pertaining to such accounts.

         3. OWNERSHIP OF ESCROW ACCOUNT. Until such time as the funds deposited
in the Escrow Account (the "Deposited Funds") shall equal the Minimum Escrow
Deposit (as hereinafter defined), all funds deposited in the Escrow Account by
GFCEP shall not become the property of GFCEP or be subject to the debts of GFCEP
or any other person but shall be held by the Escrow Agent solely for the benefit
of the investors who have purchased Units in the Offering.

<PAGE>

         4. DEPOSIT OF PROCEEDS. All proceeds from sales of Units in the
Offering shall be delivered by GFCEP to the Escrow Agent, within two business
days of the receipt thereof from investors, endorsed (if appropriate) to the
order of the Escrow Agent, together with an appropriate written statement
setting forth name, address and social security number of each person purchasing
Units, the date of purchase, the number of Units purchased and the amount paid
by each such purchaser. Any such proceeds deposited with the Escrow Agent in the
form of uncollected checks shall be promptly presented by the Escrow Agent for
collection through customary banking and clearing house facilities. As the
proceeds of each sale are deposited with the Escrow Agent, GFCEP shall reserve
the number of Units confirmed to the purchaser thereof in connection with such
sale. All such deposited proceeds are referred to herein as the "Escrow Funds."

         5. INVESTMENT OF ESCROW ACCOUNT. The Escrow Funds shall be credited by
Escrow Agent and recorded in the Escrow Account. The Escrow Agent shall be
permitted, and is hereby authorized to deposit, transfer, hold and invest all
funds received under this Agreement, including principal and interest, in an
institutional money market account. Any interest received by Escrow Agent with
respect to the Escrow Funds shall be paid to GFCEP on the termination of the
escrow.

         6. TERMINATION OF ESCROW. This Agreement and the Escrow created hereby
shall be terminated on the earlier of (the "Termination Date"):

         A. Satisfaction of the Escrow terms and the release of Escrow Funds to
GFCEP as provided in paragraph 7C below;

         B. The date that GFCEP advises the Escrow Agent and the Commissioner of
Commerce of the State of Minnesota (the "Commissioner") in writing that GFCEP
elects to abandon the Offering;

         C. June 30, 2003 if by such date (the "Funding Date") the Escrow Funds
do not equal at least the Minimum Escrow Deposit; provided, however, that GFCEP
may extend the Funding Date by 90 days on up to two occasions by giving the
Escrow Agent written notice of the extension prior to any other termination of
the Escrow;

         D. July 31, 2003 if by such date (the "Commitment Date"), GFCEP has not
advised the Escrow Agent in writing that GFCEP has received its requisite
written debt financing commitment; provided, however, that the Commitment Date
will automatically extend by 90 days for each timely extension of the Funding
Date; or

         E. January 31, 2004 (the "Final Termination Date").

         7. DISPOSITION OF ESCROW FUNDS. The Escrow Agent shall have the
following duties and obligations under this Agreement:

         A. The Escrow Agent shall send a written notice acknowledging the
receipt of the Deposited Funds every seven days to GFCEP. The Escrow Agent shall
give GFCEP prompt written notice when the Deposited Funds total $500,000, $1.0
million and $1.5 million.

         B. The Escrow Agent shall also give GFCEP prompt written notice when
the Deposited Funds equal $1,800,000. Following receipt of such notice, GFCEP
will advise the purchasers of Units to remit to the Escrow Agent the balance of
the purchase price within twenty (20) days. Thereafter, Escrow Agent shall give
GFCEP prompt written notice when the Deposited Funds total $5.0 million, $10.0
million, $15.0 million, and $18.0 million.

         C. At the time (and in the event) that: (a) the Deposited Funds shall,
during the term of this Agreement, equal $18.0 million in subscription proceeds
(exclusive of interest) (the "Minimum Escrow Deposit"), (b) the Escrow Agent
shall have received written confirmation from GFCEP that

                                       2
<PAGE>

GFCEP has obtained a written debt financing commitment sufficient to satisfy the
terms of the Offering and its business plan and (c) GFCEP has affirmatively
elected, in writing, to terminate this Agreement and has obtained the express
written authorization of the Commissioner, then this Agreement shall terminate,
and the Escrow Agent shall promptly disburse the funds on deposit, including
interest, to GFCEP to be used in accordance with the provisions set out in the
Registration Statement (as may be amended) which will be used in Offering the
Units. GFCEP will deliver a copy of the Registration Statement to the Escrow
Agent upon execution of this Agreement. The Escrow Agent will have no
responsibility to examine the Registration Statement with regard to the Escrow
Account or otherwise. Upon the making of such disbursement, the Escrow Agent
shall be completely discharged and released of any and all further
responsibilities hereunder.

         D. In the event (1) the Deposited Funds do not equal or exceed the
Minimum Escrow Deposit on or before the relevant Funding Date, (2) GFCEP does
not advise the Escrow Agent in writing regarding the debt financing commitment
on or before the relevant Commitment Date, (3) GFCEP abandons the Offering in
accordance with paragraph 6B or (4) Escrow Funds are still being held by Escrow
Agent on the Final Termination Date, the Escrow Agent shall return to each of
the purchasers of the Units in the Offering, as promptly as possible after such
Termination Date and on the basis of its records pertaining to the Escrow
Account: (a) the sum which each purchaser initially paid in on account of
purchases of the Units in the Offering and (b) subject to paragraph 10 hereof,
each purchaser's portion of the total interest earned on the Escrow Account as
of the Termination Date, (c) reduced by a processing fee paid to Escrow Agent of
Twenty Dollars ($20.00) per purchaser. Computation of any purchaser's share of
the net interest earned will be a weighted average based on the proportion of
such purchaser's deposit in the Escrow Account from the Offering to all such
purchasers' deposits held by the Escrow Agent and upon the length of time in
days such deposit was held in the Escrow Account as compared to all such
deposits. All computations with respect to each purchaser's allocable share of
net interest shall be made by the Escrow Agent, which determinations shall be
final and conclusive. Any amount paid or payable to a purchaser pursuant to this
paragraph shall be deemed to be the property of such purchaser, free and clear
of any and all claims of GFCEP or its agents or creditors; and the respective
purchases of the Units made and entered into in the Offering shall thereupon be
deemed, in facto, to be cancelled without any further liability of the
purchasers or any of them to pay for the Units purchased. At such time as the
Escrow Agent shall have made all the payments called for in this paragraph, the
Escrow Agent shall be completely discharged and released of any and all further
responsibilities hereunder, and the Units reserved (as provided in paragraph 4)
shall be released from such reservation.

         8. AGREEMENT WITH ESCROW AGENT. To induce Escrow Agent to act
hereunder, it is agreed by GFCEP that:

         A. The sole duty of the Escrow Agent, other than as herein specified,
shall be to receive the Escrow Funds and hold them subject to release, in
accordance herewith, and the Escrow Agent shall be under no duty to determine
whether GFCEP is complying with requirements of this Agreement in tendering to
the Escrow Agent said proceeds of the sale of said Units. The Escrow Agent may
conclusively rely upon and shall be protected in acting upon any statement,
certificate, notice, request, consent, order or other document believed by it to
be genuine and to have been signed or presented by the proper party or parties.
The Escrow Agent shall have no duty or liability to verify any such statement,
certificate, notice, request, consent, order or other document, and its sole
responsibility shall be to act only as expressly set forth in this Agreement.
The Escrow Agent shall be under no obligation to institute or defend any action,
suit or proceeding in connection with this Agreement unless first indemnified to
its satisfaction. The Escrow Agent may consult counsel

                                       3

<PAGE>

in respect of any question arising under this Agreement and the Escrow Agent
shall not be liable for any action taken or omitted in good faith upon advice of
such counsel.

         B. GFCEP hereby indemnifies and holds harmless the Escrow Agent from
and against any and all loss, liability, cost, damage and expense, including,
without limitation, reasonable counsel fees, which the Escrow Agent may suffer
or incur by reason of any action, claim or proceeding brought against the Escrow
Agent arising out of or relating in any way to this Agreement or any transaction
to which this Agreement relates unless such action, claim or proceeding is the
result of the gross negligence or willful misconduct of the Escrow Agent.

         9. RESIGNATION AND REMOVAL OF ESCROW AGENT SUCCESSORS. The Escrow Agent
may resign upon thirty (30) days advance written notice to GFCEP. If a successor
Escrow Agent is not appointed within the 30-day period following such notice,
Escrow Agent may petition any court of competent jurisdiction to name a
successor Escrow Agent. Any commercial banking institution or trust company with
which Escrow Agent may merge or consolidate, and any commercial banking
institution or trust company to which Escrow Agent transfers all or
substantially all of its corporate trust business shall be the successor Escrow
Agent without further act.

         10. FEES AND EXPENSES OF ESCROW AGENT. In the event the Deposited Funds
do not equal or exceed the Minimum Escrow Deposit before the Termination Date,
the Escrow Agent shall be entitled to a fee of Twenty Dollars ($20.00) per
purchaser, which fees shall be paid from interest on the escrow account only and
not from principal. The fee agreed upon in the event of termination of the
escrow without the required Minimum Escrow Deposit and the continued deposit of
said escrow in the institutional money market account as set forth in paragraph
5 herein is intended as full consideration for the Escrow Agent's services as
contemplated by this Agreement; PROVIDED, HOWEVER, that in the event the Escrow
Agent renders any material service not contemplated in this Agreement or there
is any assignment of interest in the subject matter of this Agreement, or any
material modification hereof; or if any material controversy arises hereunder,
or the Escrow Agent is made a party to any litigation pertaining to this
Agreement, or the subject matter hereof, then the Escrow Agent shall be
reasonably compensated for such extraordinary services and reimbursed for all
costs and expenses, including reasonable attorney's fees, occasioned by any
delay, controversy, litigation or event, and the same shall be recoverable from
GFCEP, but not from the escrow account.

         11. CONCERNING THE COMMISSIONER. The parties further agree as follows:

         A. CONSENT OF COMMISSIONER TO RELEASE FUNDS. No funds shall be released
to GFCEP hereunder except upon the express written authorization of the
Commissioner. If the Commissioner finds that any conditions of this Agreement
have not been satisfied, or that any provisions of the Minnesota Securities Laws
or regulations have not been complied with, then the Commissioner may withhold
such authorization for release of funds by the Escrow Agent to GFCEP and may
direct the Escrow Agent to return the funds to the subscribers. In making a
determination hereunder, the Commissioner may require from GFCEP a statement of
all expenses and/or all amounts paid into the escrow, certified by an
independent certified public accountant or an officer of GFCEP and any further
financial or other information as the Commissioner may deem appropriate or
helpful in making such determination.

         B. INSPECTION OF RECORDS. The Commissioner may, at any time, inspect
the records of the Escrow Agent, insofar as they relate to this Escrow
Agreement, for the purpose of determining compliance with and conformance to the
provisions of this Escrow Agreement.

         C. ISSUANCE OF CERTIFICATES. Until the terms of this Agreement have
been met and the funds hereunder released to GFCEP, GFCEP may not issue any
certificates or other evidences of securities, except subscription agreements.

         12. NOTICES. All notices, requests, demands, and other communications
under this Agreement shall be in writing and shall be deemed to have been duly
given (a) on the date of service if served personally on the party to whom
notice is to be given, (b) on the day of transmission if sent by facsimile
transmission to the facsimile number given below, and telephonic confirmation of
receipt is obtained promptly after completion of transmission, (c) on the next
day on which such deliveries are made in Granite Falls, Minnesota, when delivery
is to Federal Express or similar overnight courier or the Express Mail service
maintained by the United States Postal Service, or (d) on the fifth day after
mailing, if mailed to the party to whom notice is to be given, by first class
mail, registered or certified, postage prepaid, and properly addressed, return
receipt requested, to the party as follows:

                                       4

<PAGE>

          If to Escrow Agent:

               Granite Falls Bank
               2801 West Jefferson Street
               Granite Falls, Minnesota 56241
               Fax:  (320) 773-2696

          If to GFCEP:

               Granite Falls Community Ethanol Plant, LLC
               Attn: Paul Enstad, Chairman
               2448-540th Street, Suite 1
               Granite Falls, Minnesota 56241
               Fax:  (320) 561-0720

          with a required copy to:

               Messerli & Kramer P.A.
               150 South Fifth Street, Suite 1800
               Minneapolis, Minnesota 55402
               Attention:  Jeffrey C. Robbins, Esq.
               Fax:  (612) 672-3777

         13. GOVERNING LAW. This Agreement shall be construed, performed, and
enforced in accordance with, and governed by, the internal laws of the State of
Minnesota, without giving effect to the principles of conflict of laws thereof.

         14. SUCCESSORS AND ASSIGNS. Except as otherwise provided in this
Agreement, no party hereto shall assign this Agreement or any rights or
obligations hereunder without the prior written consent to the other parties
hereto and any such attempted assignment without such prior written consent
shall be void and of no force and effect. This Agreement shall inure to the
benefit of and shall be binding upon the successors and permitted assigns of the
parties hereto.

         15. SEVERABILITY. In the event that any part of this Agreement is
declared by any court or other judicial or administrative body to be null, void,
or unenforceable, said provision shall survive to the extent it is not so
declared, and all of the other provisions of this Agreement shall remain in full
force and effect.

         16. FURTHER ASSURANCES. Each of the parties shall execute such
documents and other papers and take such further actions, as may be reasonably
required or desirable to carry out the provisions hereof and the transactions
contemplated hereby.

         17. AMENDMENTS. This Agreement may be amended or modified, and any of
the terms, covenants, representations, warranties, or conditions hereof may be
waived, only by a written

                                       5

<PAGE>

instrument executed by the parties hereto, or in the case of a waiver, by the
party waiving compliance. Any waiver by any party of any condition, or of the
breach of any provision, term, covenant, representation, or warranty contained
in the Agreement, in any one or more instances, shall not be deemed to be nor
construed as further or continuing waiver of any such conditions, or of the
breach of any other provision, term, covenant, representation, or warranty of
this Agreement.

         18. ENTIRE AGREEMENT. This Agreement contains the entire understanding
among the parties hereto with respect to the escrow contemplated hereby and
supersedes and replaces all prior and contemporaneous agreements and
understandings, oral or written, with regard to such escrow.

         19. SECTION HEADINGS. The section headings in this Agreement are for
reference purposes only and shall not affect the meaning or interpretation of
this Agreement.

         20. COUNTERPARTS. This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original but all of which
together shall constitute one and the same instrument.

     IN WITNESS WHEREOF, the parties hereto have hereunto affixed their
signatures as of the day and year first written above.

GFCEP:

GRANITE FALLS COMMUNITY ETHANOL PLANT, LLC

By
    --------------------------------
    Paul Enstad, Chairman

ESCROW AGENT:

GRANITE FALLS BANK

By
    --------------------------------
    Steve Lindholm, President

Accepted for filing:

---------------------------------------
Minnesota Commissioner of Commerce

                                       6<PAGE>
                                                                    Exhibit 10.1

                 LOAN REIMBURSEMENT AND SECURITY AGREEMENT

                                   DATED AS OF

                                SEPTEMBER 3, 2002

                                 BY AND BETWEEN

                      WONDERLAND GREYHOUND PARK REALTY, LLC

                                       AND

                           BOSTON FEDERAL SAVINGS BANK
<PAGE>
                                 LOAN AGREEMENT

      Agreement entered into this 3rd day of September, 2002 between Boston
Federal Savings Bank, with offices at 17 New England Executive Park, Burlington,
MA 01803 ("Lender"), Wonderland Greyhound Park Realty, LLC, a Delaware limited
liability company with an address c/o The Westwood Group, Inc., 190 V.F.W.
Parkway, Revere, MA 02151 ("Borrower") and The Westwood Group, Inc., a Delaware
corporation with an address at 190 V.F.W. Parkway, Revere, MA 02151
("Guarantor").

                                    RECITALS

      Whereas, pursuant to its commitment letter dated July 2, 2002 (the
"Commitment Letter"), Lender is making a loan to Borrower on the date hereof in
the principal amount of $6,500,000.00, to be secured by a mortgage on the land
with the improvements thereon at 190 V.F.W. Parkway, Revere, Suffolk County,
Massachusetts (the "Mortgaged Property"), and

      Whereas, pursuant to the terms of the Commitment Letter, Lender will make
an initial advance of $5,400,000.00 of the loan proceeds, and will hold back the
remaining $1,100,000.00 of the loan proceeds to be disbursed, if at all, upon
satisfaction of the conditions set forth in this Loan Agreement, and

      Whereas, Century Bank and Trust Company ("Century Bank") has issued its
Irrevocable Letter of Credit in the amount of $125,000.00 dated September 24,
2001, Letter of Credit No. 94045666, (the "Century Bank Letter of Credit") in
favor of Borrower, for the benefit of Lumbermans Mutual Casualty Company
("Lumbermans"). The Century Bank Letter of Credit was issued pursuant to a
letter of credit facility, which is evidenced by a Letter of Credit Agreement
between Century Bank and Borrower dated as of October 13, 2000 (the "Letter of
Credit Agreement"), and a Letter of Credit Promissory Note from Borrower to
Century Bank dated as of October 13, 2000 in the principal amount of $125,000.00
(the "Letter of Credit Note"). Borrower's Liabilities' under the Letter of
Credit Agreement and the Letter of Credit Note are secured by (i) a second
mortgage from Borrower to Century Bank covering the Mortgaged Property (the
"Letter of Credit Mortgage"), (ii) a guaranty by The Westwood Group, Inc.
("Guarantor") to Lender (the "Letter of Credit Guaranty") and (iii) other loan
documents given by Borrower to Lender to secure the repayment of the Letter of
Credit Note (collectively with the Letter of Credit Mortgage and the Letter of
Credit Guaranty, the "Letter of Credit Security Documents").

      In consideration of the delivery by Lender to Century Bank of either (a)
$125,000.00 of the Loan proceeds to be held
<PAGE>
by Century Bank as security for the repayment of the Letter of Credit Note or
(b) issuance by Lender in favor of Borrower for the benefit Century Bank a
back-up Irrevocable Letter of Credit in the amount of $125,000.00 (the "Boston
Federal Letter of Credit"), Century Bank has agreed to discharge the Letter of
Credit Mortgage.

                                    AGREEMENT

      Now, therefore, for valuable consideration, the receipt and sufficiency of
interest are hereby acknowledged, Borrower, Guarantor and Lender agree as
follows:

1.    Definitions

      The terms used below shall have the meanings there indicated. All other
terms are defined in the Mortgage.

Loan Amount:      $6,500,000.00, or so much thereof as is advanced from
                  Lender to Borrower in accordance with the terms hereof.

Loan:             The loan evidenced and secured by the Loan Documents.

Commitment:       The commitment from Lender to Borrower dated July 2, 2002

Note:             The promissory note from Borrower to Lender of even date in
                  the Loan Amount.

Mortgage:         The mortgage and security agreement from Borrower to Lender
                  encumbering the Mortgaged Property, which secures
                  Borrower's payment and performance Liabilities' under the
                  Loan Documents.

Mortgaged
Property:         The land with the buildings and improvements thereon
                  situated at 190 V.F.W. Parkway, Revere, Suffolk County,
                  Massachusetts, more particularly described in the Mortgage.

Guaranty:         The guaranty from the Guarantor to Lender guaranteeing all
                  of the Borrower's payment and performance obligations under
                  the Loan Documents.

                                       2
<PAGE>
Loan
Documents:        This Loan Agreement, the Commitment, the Note, the
                  Mortgage, the Guaranty, and all other documents defined in
                  the Mortgage as Loan Documents.

Holdback
Funds:            The $1,100,000.00 of the proceeds of the Loan described in
                  Section 9 hereof.

2.    Agreement to Lend and Borrow

      Lender agrees to lend, Borrower agrees to borrow, and Guarantor agrees to
guaranty, the Loan Amount subject to the terms and conditions of the Loan
Documents.

3.    Conflicts among Documents.  Omitted.

4.    Financial Information and Reporting.

      Borrower will furnish to Lender each year during the term of the Loan (i)
within ninety (90) days after the end of Borrower's fiscal year, in form and
substance reasonably satisfactory to Lender, financial statements of Borrower as
of the close of Borrower's most recent fiscal year, (ii) within thirty (30) days
after the same have been filed, completed and executed federal and state tax
returns of Borrower and any Guarantor of the Loan for the previous year, (iii)
within ninety (90) days after the end of Borrower's fiscal year, a rent roll, an
operating statement for the Mortgaged Property held as collateral for the Loan
and a Certificate of Covenant Compliance, all certified by Borrower and each
Guarantor to be true, accurate and complete in all material respects. Each
financial statement shall be prepared in accordance with generally accepted
accounting principles, consistently applied ("GAAP"). Each Borrower and each
Guarantor shall furnish to Lender such additional financial information and
documentation with respect to its or any Guarantor's financial condition as the
Lender may from time to time reasonably request in writing, including without
limitation copies of all leases and an operating statement for the Mortgaged
Property held as collateral for the Loan.

5.    Collateral for Loan.

      The Borrower hereby agrees that, except as consented to by the Lender in
writing, and except as otherwise provided in the Mortgage, it shall not (i)
convey, sell, assign, mortgage, encumber, pledge or transfer in any manner the
Borrower's legal, beneficial or membership interests in Borrower or any and all
collateral securing the Loan, or (ii) incur or become liable for any additional
indebtedness (except in the ordinary course of business), for so long as the
Note and the other

                                       3
<PAGE>
Loan Documents are in effect and the obligations of the Borrower hereunder are
still outstanding.

6.    Covenants.

(a)   Debt Service Ratio. The Borrower shall at all times during the term of the
      Loan maintain a Debt Service Ratio (as hereinafter defined) of 1.50:1.0.
      This covenant shall be tested annually at fiscal year end commencing
      December 31, 2002 based on the Mortgaged Premises held as collateral for
      the Loan.

            As used herein the term Debt Service Ratio shall mean the ratio of
            Net Operating Income (as herein defined) of Borrower to Debt Service
            Charges (as herein defined) of Borrower. The term "Net Operating
            Income" with respect to Borrower shall mean Revenues (as herein
            defined) of Borrower less Expenses (as herein defined) for the
            applicable year. The term "Debt Service Charges" shall mean the sum
            of interest and principal due and payable with respect to the Note
            by Borrower for the applicable year. The term "Revenues" shall mean
            the sum of all rents and other payments to be received by Borrower
            based on signed leases during the applicable yearly period in
            connection with the operation of the Mortgaged Premises in the
            ordinary course of business in respect of the following items:

                  (i) rentals, including minimum or base rent, percentage rent,
            and rent attributable to recovery of tenant improvements costs
            received from tenants (exclusive of security deposits) occupying
            space in the Mortgaged Premises during such period and utilizing a
            zero (0%) percent vacancy factor;

                  (ii) cash reimbursements from tenants under leases during such
            period or any portion thereof for operating expenses, including,
            without limitation, insurance premiums, real estate taxes, utilities
            and the cost of tenant improvements and any other items allocated as
            "Expenses" below;

                  (iii)  parking revenues (if any) received in connection
            with the operation of the Mortgaged Premises;

                  (iv)  any and all other operating revenues received from
            the Mortgaged Premises; and

                  (v)  any other revenues of Borrower, including without
            limitation, interest income.

                                       4
<PAGE>
            Advances of the proceeds of the Loan shall not be included in
            Revenues. If Borrower shall receive cash by reason of fire or other
            casualty insurance proceeds or equity proceeds or a taking by
            eminent domain, or by reason of or sale of any portion of the
            Mortgaged Premises, such amounts shall not be included in Revenues.

            The term "Expenses" shall mean, for any applicable year, amounts
            expended by the Borrower (or, in the case of reserves, set aside in
            cash in an account maintained with the Lender) during such year in
            payment of the following items:

                  (i) all operating costs and expenses incurred in the operation
            of the Mortgaged Premises, including, without limitation, real
            estate taxes and betterment assessments, utility charges, insurance
            premiums, management fees, advertising expenses and maintenance
            expenses for which Borrower is not fully reimbursed by the tenants
            at the Mortgaged Premises.

                  (ii) for tenancies of spaces at the Mortgaged Premises, the
            cost and expenses (including brokerage commissions and legal fees)
            of leasing spaces at the Mortgaged Premises and performing tenant
            improvement work capitalized in accordance with GAAP; and

                  (iii) a minimum of zero (0%) percent funded reserves
            maintained in an account with the Lender established for the
            Mortgaged Premises for replacement and other purposes.

            Expenses shall not include Debt Service Charges or amounts paid from
            funded reserves theretofore established, charges for income taxes,
            capital gain taxes, corporation excise taxes and similar taxes, and
            depreciation, amortization and other non-cash expenses. Net
            Operating Income, Debt Service Charges, Revenues and Expenses shall
            be determined on an accrual basis (with all receivables more than
            sixty (60) days past due excluded and all receivables not more than
            sixty (60) days or less past due included) and in accordance with
            GAAP.

(b)   Loan to Value Ratio.  The Borrower acknowledges that the initial
      underwriting of the loan evidenced hereby assumed that the outstanding
      principal balance of the Note would not exceed sixty (60%) percent of
      the value of the Mortgaged Premises, based upon the July 12, 2002
      appraisal of the Mortgaged Premises by R.M. Bradley & Co., Inc.  In the
      event that the Debt Service Ratio falls below the requirements set
      forth in Section 6(a) hereof, then Lender shall have the right to
      re-test the loan to

                                       5
<PAGE>
      value ratio periodically thereafter upon written notice to Borrower.

7.    Remedies

      The failure of either Borrower or any Guarantor to timely provide the
required financial statements or materials set forth in Item 4 above, to abide
by the restrictions set forth in Item 5 above and/or to maintain the covenants
set forth in Item 6 above shall, at the election of the Lender, constitute an
Event of Default hereunder. No Event of Default shall be declared by the Lender
as a result of the non-compliance with Items 4, 5 and 6 above until the Lender
has given the Borrower ten (10) days written notice of non-compliance.

8.    Operating Accounts

      During the term of the Loan, Borrower and Guarantor (and their operating
subsidiaries) shall maintain all of their operating accounts relating to the
Mortgaged Property ("Operating Accounts") with Lender (with Lender's standard
commercial rates and services applicable thereto), through which all advances of
Loan proceeds may be funded and through which all income and disbursements for
the Mortgaged Property shall be deposited and disbursed.

9.    Holdback Funds

      Borrower and Lender agree that $1,100,000.00 of the Loan Amount (the
"Holdback Funds") shall not be disbursed at the initial closing of the Loan, and
Lender's obligations to disburse the Holdback Funds shall be subject to and
conditioned upon satisfaction of the terms and conditions set forth herein.

10.   Disbursement of Holdback Funds

      (i)   Subject to the conditions set forth herein, $500,000.00 of the
            Holdback Funds may be used by Borrower, Guarantor or Borrower's
            sole member, Wonderland Greyhound Park, Inc., to purchase stock
            in Guarantor from minority stockholders of Guarantor ("Stock
            Redemption") and the remaining $600,000.00 of the Holdback Funds
            may be used by Borrower, Guarantor or Borrower's sole member,
            Wonderland Greyhound Park, Inc., for working capital to operate
            the Mortgaged Property ("Operating Expenses").

      (ii)  Provided there is then no Event of Default, Borrower may request by
            written notice to Lender from time to time that Lender disburse all
            or any portion of the Holdback Funds, which request shall be
            accompanied by:

                                       6
<PAGE>
            (a)   with respect to the first such request, evidence
                  satisfactory to Lender that approximately $1,000,000.00 of
                  the initial $5,400,000.00 disbursement of the loan proceeds
                  has been used by Borrower or Guarantor to pay (a)
                  approximately $397,598.64 to the Autotote Settlement of any
                  litigation or judgments, (b) $300,000.00 to accounts
                  payable owed by Borrower or its sole member, Wonderland
                  Greyhound Park, Inc., as of the date of this Agreement and
                  (c) $300,000.00 to Charles F. Sarkis ("Sarkis") in partial
                  repayment of outstanding indebtedness on loans made by
                  Sarkis to Borrower or Guarantor;

            (b)   an updated rent roll for the Mortgaged Property, certified by
                  Borrower as accurate and complete in all material respects,
                  certifying the gross rental income from the Mortgaged
                  Property, including the gross rental income from such future
                  lease;

            (c)   a certification (accompanied by written documentation
                  acceptable to the Lender) from Borrower that the portion of
                  the Holdback Funds so disbursed shall be used to pay for Stock
                  Redemption or Operating Expenses; and

            (d)   a date down endorsement to Lender's title insurance policy
                  covering the Mortgaged Property, which (a) amends the date
                  of the policy to the date of such disbursement, (b)
                  increases the amount insured under Lender's policy by the
                  amount being disbursed, and (c) contains no exceptions
                  (including without limitation delinquent taxes, mechanics
                  liens and parties in possession except as tenants only) in
                  addition to the exceptions set forth in the title insurance
                  policy issued to Lender in connection with the initial
                  closing of the Loan.

      (iii) Provided no Event of Default under any Loan Document has occurred
            and remains uncured beyond any applicable cure period, Lender agrees
            to disburse such requested portion of the Holdback Funds within five
            (5) days after receipt of the documents described in this Section.

11.   Letter of Credit Reserve

      If Century Bank requires that Borrower deposit with Century Bank
$125,000.00 to be held by Century Bank as

                                       7
<PAGE>
security for repayment of the Letter of Credit Note, then Lender shall disburse
$125,000 of the initial $5,400,000.00 disbursement of the loan proceeds to
Century Bank, to be held by Century Bank in accordance with a separate agreement
between Borrower and Century Bank. Upon the expiration or the return or
surrender of the original Century Bank Letter of Credit (without any drawing
thereunder) Borrower shall cause Century Bank to return to Lender the
$125,000.00 and Lender shall thereupon issue the Boston Federal Letter of
Credit.

      If at any time Lender is requested by Borrower to directly issue a new
Boston Federal Letter of Credit on behalf of Borrower, Lender shall receive from
Borrower as a condition precedent thereto the sum of $125,000.00 (the "Escrow
Funds") and shall hold the Escrow Funds as a reserve and as additional security
for the repayment of the Loan and/or to secure the repayment of any amount which
may be drawn against the Boston Federal Letter of Credit. Said Letter of Credit
shall issue for the benefit of Century Bank or Lumbermens Mutual, as
appropriate.

12.   Letter of Credit Reimbursement.

      (a)   Payments.  Borrower hereby agrees to pay to Lender:

            (i)   not later than 2:00 p.m. (Boston time) on the date that any
      amount is drawn under the Letter of Credit pursuant to any Drawing, the
      amount of said draw under the Letter of Credit;

            (ii) upon each transfer of funds under the Letter of Credit in
      accordance with its terms, such amount (and interest on such amount as
      provided in clause (iv) below) as shall at the time of any transfer then
      be the charge which the Lender customarily charges for transfers of
      similar letters of credit;

            (iii) interest on any and all amounts due and unpaid hereunder from
      the date such amounts become due until paid in full (whether before or
      after judgment), payable on demand, at the fixed interest rate per annum
      (computed on the basis of a year of 360 days and the actual number of days
      elapsed) equal to the Interest Rate set forth in the Note;

            (iv) on demand, any and all reasonable charges and expenses which
      the Lender may pay or incur relative to the Letter of Credit (which shall
      not include any charge or expense which is specifically dealt with in
      subparagraph (i) through (iv) hereof); and

            (v) on demand, any and all reasonable expenses incurred by the
      Lender in enforcing any rights under this

                                       8
<PAGE>
      Reimbursement Agreement (including reasonable fees and disbursements of
      legal counsel).

      (b) Annual Fee. Borrower hereby agrees to pay to Lender an annual fee (the
"Annual Fee") with respect to the Letter of Credit, computed (on the basis of a
year of 360 days and the actual number of days elapsed) from and including the
Date of Issuance until the Termination Date, at the rate of one percent (1%) per
annum on the credit amount set forth in the Letter of Credit payable in advance
on the date hereof and thereafter on each anniversary of the date hereof.

      (c) Immediately Available Funds. All payments by Borrower to Lender
hereunder shall be made in lawful currency of the United States and in
immediately available funds not later than 1:00 p.m., Boston time, to Lender at
its office to which notices are required to be sent in accordance with Section
34 hereunder, and shall be made without any set-off, counterclaim or deduction
whatsoever.

      (d) Change in Circumstances. If any change in law, rule or regulation
shall (i) impose, modify or deem applicable any reserve, assessment, capital
allocation, special deposit or similar requirement against letters of credit
issued by the Lender, or (ii) impose on the Lender any other condition regarding
this Agreement or the Letter of Credit, and the result of any event referred to
in clause (i) or (ii) above shall be to increase the cost to the Lender of
issuing or maintaining the Letter of Credit (which increase in cost shall be the
result of the Lender's reasonable allocation of the aggregate of such cost
increases resulting from such events), then, within 10 (ten) days after written
request by Lender, and presentation to Borrower of evidence of such change,
Borrower shall pay to Lender from time to time as specified by Lender,
additional amounts which shall be sufficient to compensate Lender for such
increased cost, together with interest on each such amount from the date
demanded until payment in full thereof at the Interest Rate set forth in the
Note. Lender shall notify Borrower in writing of any change in law, rule or
regulation of which it has knowledge which will entitle it to compensation
hereunder. A certificate as to such increased cost incurred by Lender as a
result of any event referred to in clause (i) or (ii) of this paragraph
submitted by Lender to Borrower shall be conclusive, absent manifest error, as
to the amount thereof.

13.   Maximum Interest Rate.

      Nothing contained in this Agreement shall be deemed to establish or
require the payment of a rate of interest in excess of the maximum rate
permitted by any applicable law. In the event that any rate of interest required
to be paid under this Agreement exceeds the maximum rate permitted by any

                                       9
<PAGE>
such applicable law, such rate shall automatically be reduced to the maximum
rate permitted by such applicable law.

14.   Agreement of the Lender.

      Subject to the satisfaction of the terms and conditions of Sections 11 and
12 of this Agreement, Lender agrees to issue the Letter of Credit. Lender agrees
that it will make all payments under the Boston Federal Letter of Credit out of
its own funds.

15.   Conditions Precedent to Issuance of the Letter of Credit.

      The obligation of Lender to issue the Letter of Credit is subject to the
receipt by Lender on or before the date hereof of the following, each in form
and substance reasonably satisfactory to Lender:

      (a)   All documents and certificates required by the Commitment Letter
and described on the Closing Agenda for the Loan;

      (b)   Payment of the initial Annual Fee;

      (c)   Such additional information, documentation, assignments and
materials as the Lender may reasonably require.

16.   Representations Correct; No Event of Default.

      On the date hereof:

      (a) The representations and warranties contained herein and in each Loan
Document delivered by Borrower and Guarantor to Lender in connection with this
Agreement shall be true and correct in all material respects; and

      (b) No Event of Default shall have occurred and be continuing, and will
not result from the execution and delivery of this Agreement or issuance of the
Letter of Credit.

17.   Creation of Security Interest in Accounts.

      As collateral security for the payment and performance of the obligations
of Borrower to Lender under the Note, the Mortgage and the other Loan Documents
(the "Liabilities"), Borrower hereby grants to Lender a security interest in and
assigns, pledges and transfers to Lender all of Borrower's legal and beneficial
right, title and interest in and to the funds from time to time in the Operating
Accounts and the Escrow Funds in the Escrow Account.

                                       10
<PAGE>
18.   Right of Setoff.

      Lender shall have the right, at its option and at any time or from time to
time, charge, setoff, recoup or otherwise apply any or all of the Liabilities
against the Operating Accounts and the Escrow Account, or any part thereof.
Lender agrees to notify Borrower of any such charge, set off or recoupment
promptly upon completion thereof. Borrower shall remain liable to Lender for any
deficiency. The remedies set forth herein or which are otherwise available under
applicable law are not exclusive and may be exercised consecutively or
concurrently, at the sole option of Lender. Regardless of the adequacy of any
other collateral, Lender shall have the right to setoff the funds from time to
time in the Operating Accounts and Escrow Funds in the Escrow Account against
any or all of the Liabilities or otherwise recoup the Liabilities by applying
the funds from time to time in the Operating Accounts and Escrow Funds in the
Escrow Account against any of such Liabilities.

19.   Power of Attorney.

      To the extent permitted by applicable law, Borrower hereby irrevocably
appoints Lender as its attorney-in-fact, with full power of substitution and
resubstitution, to take any action and to execute any agreement, instrument or
document that Lender in its discretion deems reasonably necessary to secure for
Lender the pledge of the funds from time to time in the Operating Accounts and
the Escrow Funds in the Escrow Account and the rights of setoff provided herein,
such appointment to only be effective upon the occurrence and continuation of an
Event of Default. The foregoing appointment is irrevocable and coupled with an
interest, and will not be affected by the dissolution or bankruptcy of the
Borrower nor by the lapse of time.

20.   Waiver of Requirements.

      Lender may at any time make advances prior to or without the fulfillment
by Borrower of all of the conditions precedent thereto, whether or not known to
Lender, and no such advance shall constitute a waiver by Lender of the
requirement that all conditions, including those not previously performed, shall
be fulfilled prior to all future advances. Lender, although not obligated to do
so, may make advances hereunder after maturity of the Note without derogating
from its rights hereunder or under the Note or the Mortgage.

21.   Commitment Fee

      Borrower shall pay to Lender a non-refundable commitment fee of Sixty-Five
Thousand ($65,000.00) Dollars, one-half of which shall be retained by the Bank
and one-half shall be paid to Alouette Capital, Inc. as a mortgage brokerage
fee. The

                                       11
<PAGE>
commitment fee payments shall be deemed earned upon receipt and shall be
non-refundable whether or not any further funds are advanced hereunder. Lender
acknowledges receipt of $15,000.00 of the Commitment Fee, which will be applied
by Lender to costs incurred by Lender, including without limitation appraisal
costs, 21E investigation and/or legal costs. The $50,000.00 balance of the
Commitment Fee shall be due at the closing of the loan evidenced hereby.

22.   Approvals

      Except as otherwise specifically provided in the Loan Documents, Lender
and Lender's counsel shall approve each instrument and document, both as to form
and substance, required to be furnished by Borrower, any Guarantor in connection
with the Loan. Such approval shall be in the sole discretion of Lender except as
otherwise specifically provided in the Loan Documents. Lender may require
Borrower or any Guarantor to provide such further instruments, documents and
assurances during the term of the Loan evidenced hereby as Lender may deem
necessary to protect the interests of Lender, and any such instruments,
documents and assurances may contain terms or provisions in addition to, but
consistent with, the terms herein set forth.

23.   Representations

      All representations made by Borrower or Guarantor to Lender in connection
with the loan evidenced hereby shall be deemed to be material and relied upon by
Lender in making the loan evidenced hereby.

24.   Event of Default

      The occurrence of any one or more of the following events shall constitute
an "Event of Default":

      (a)   default by Borrower under any of the provisions of this
Agreement, which default continues for thirty (30) days;

      (b)   an Event of Default under any other Loan Document.

      Borrower agrees that the occurrence of an Event of Default under this
Agreement shall be deemed to be an Event of Default under the Note, the Mortgage
and the other Loan Documents, and that in addition to the remedies specified in
this Agreement, Lender shall have the right to exercise all of its rights and
remedies under the Note, the Mortgage and the other Loan Documents upon an Event
of Default.

                                       12
<PAGE>
25.   Default under the Note, the Mortgage or any other Loan Document.

      (a) If an Event of Default occurs under this Agreement, the Note, the
Mortgage or any other Loan Document, Lender, in its sole and absolute
discretion, may use the funds in the Operating Accounts and the Escrow Funds (or
any portion thereof) for any purpose, including but not limited to (i) repayment
of any indebtedness secured by the Mortgage; provided, however, that such
application of funds shall not cure or be deemed to cure any Event of Default;
(ii) reimbursement of Lender for any losses or expenses (including, without
limitation, reasonable attorneys fees and expenses) suffered or incurred by
Lender as a result of such Event of Default; or (iii) applying the funds in
connection with exercising any and all rights and remedies available to Lender
at law or in equity or under this Agreement or pursuant to the Note, the
Mortgage or the other Loan Documents.

      (b) Nothing in this Agreement or the Mortgage shall obligate Lender to
apply all or any portion of the funds in the Operating Accounts and the Escrow
Funds on account of any Event of Default or default hereunder by Borrower or to
repayment of the indebtedness evidenced by the Note or in any specific order of
priority.

26.   Rights of the Lender.

      Lender shall not be liable for failure to collect or realize upon the
Liabilities or any collateral security or guarantee therefor, or any part
thereof, or for any delay in so doing, nor shall it be under any obligation to
take any action whatsoever with regard thereto. If an Event of Default has
occurred and is continuing, Lender may thereafter, without notice or demand
(except to the extent required by law), exercise all rights, privileges or
options pertaining to any collateral as if it were the absolute owner thereof,
upon such terms and conditions as it may determine, all without liability except
to account to Borrower for property actually received by it and except on
account of willful misconduct or gross negligence of Lender. In addition to the
rights and remedies granted to it in this Agreement and in any other instrument
or agreement securing, evidencing or relating to any of the Liabilities, Lender
or its designated agent shall have the authority to exercise all the rights and
remedies of a secured party under the Uniform Commercial Code. Lender shall have
no duty to exercise any of the aforesaid rights, privileges or options and shall
not be responsible for any failure to do so or delay in so doing.

                                       13
<PAGE>
27.   Lender's Rights on Default

      Upon the occurrence of an Event of Default Lender may exercise any and all
of Lender's remedies provided in any or all of the Loan Documents.

28.   Claims Against Lender

      Borrower and Guarantor agree that none of them shall commence any action
for any claim against Lender under any of the Loan Documents unless notice
thereof, specifically setting forth the claim, shall have been given to the
Lender within fifteen (15) days after Borrower or Guarantor becomes aware of the
occurrence of the event which is alleged to give rise to such claim. Failure to
give such notice shall constitute a waiver of such claim.

29.   Captions

      Captions are used for convenience of reference only and are not to be
construed as part of the terms of this Agreement.

30.   Severability

      The invalidity of any provision of this Agreement shall in no way affect
the validity of any other provision.

31.   Singular and Plural

      Where required by the context the singular shall include the plural and
the plural shall mean the singular.

32.   Gender

      The masculine, feminine and neuter forms shall be interpreted
interchangeably whenever the context requires.

33.   Successors and Assigns

      This Agreement shall be binding upon and inure to the benefit of the
parties hereto and their heirs, successors, personal representatives, and
assigns.

34.   Notices

      All notices given hereunder shall be in writing and shall be deemed
received at the earlier of (a) when delivered in hand, (b) seventy-two (72)
hours after the same have been deposited in the United States mails, postage
prepaid, certified or registered mail, return receipt requested, or (c)
twenty-four (24) hours after the same have been deposited with a nationally
recognized overnight delivery service which provides tracking and receipt
services for such deposited

                                       14
<PAGE>
notices, addressed in all cases to Borrower at 190 V.F.W. Parkway, Revere, MA
02151, Attn: Richard P. Dalton, and to Lender to Richard J. Kennedy, Vice
President, Boston Federal Savings Bank at their addresses appearing on the first
page hereof, or to such other address or addresses as the parties may from time
to time specify by notice so given. Copies of all notices to Lender shall be
sent simultaneously and in the same manner to Burton Winnick, Esquire, Gadsby
Hannah LLP, 225 Franklin Street, Boston, MA 02110, and in the case of notices to
Borrower, to Francis J. Feeney, Jr., Esquire, Hutchins, Wheeler & Dittmar, 101
Federal Street, Boston, MA 02110.

35.   Governing Law

      This agreement shall be interpreted in accordance with and governed by the
law of The Commonwealth of Massachusetts.

36.   Jurisdiction and Waiver of Jury Trial

      Any and all judicial actions relating to this Loan Agreement or any of the
other Loan Documents shall be adjudicated solely in the courts of The
Commonwealth of Massachusetts or the United States District Court for the
District of Massachusetts. Borrower and Guarantor submit to personal
jurisdiction in The Commonwealth of Massachusetts and waive any and all rights
to object to such jurisdiction. Borrower and Guarantor agree service of process
may be made and personal jurisdiction obtained by serving each of them, as the
case may be, at their respective address stated on the first page hereof or at
such other address of which Borrower, any Guarantor or Owner, as the case may
be, may otherwise notify Lender in the manner hereinabove provided. Borrower and
Guarantor waive trial by jury to the maximum extent permitted by law.

37.   Changes in Writing

      This Agreement may not be changed, waived, or terminated except in a
writing signed by the party against whom enforcement of the change, waiver, or
termination is sought.

38.   Costs and Attorney's Fees

      To the extent permitted by law, if Lender retains an attorney to collect
any sums due under this Agreement or the other Loan Documents, enforce any of
the provisions hereof or of the other Loan Documents, or otherwise protect
Lender's interests, and if an Event of Default has occurred hereunder and/or if
the Lender has prevailed against the Borrower as determined by a court of
competent jurisdiction, then Borrower agrees to pay Lender, on demand, all costs
and expenses in connection therewith including all court costs and reasonable
attorney's fees whether or not suit is brought or prosecuted to completion (in
the case of an Event of Default hereunder),

                                       15
<PAGE>
together with interest thereon at the rate applicable under the Note to amounts
past due.

39.   Borrower's Other Liabilities.

      Nothing contained in this Agreement shall in any manner whatsoever alter,
impair or affect the obligations of Borrower, or relieve Borrower of any of its
obligations to make payments and perform all of its other obligations required
under the Note, the Mortgage or the other Loan Documents.

40.   Remedies Cumulative.

      None of the rights and remedies herein conferred upon or reserved to
Lender under this Agreement is intended to be exclusive of any other rights, and
each and every right shall be cumulative and concurrent, and may be enforced
separately, successively or together, and may be exercised from time to time as
often as may be deemed necessary by Lender.

41.   Indemnification.

     Borrower, and each endorser and Guarantor of the Loan, shall indemnify,
defend, and hold Lender, its officers, directors, employees or agents, harmless
from and against any claim brought or threatened against Lender solely arising
out of the loan transaction evidenced by this Agreement, the Note and other
related Loan Documents, and shall pay all costs and expenses, including, without
limitation, reasonable attorneys' fees and expenses in connection with the
protection or enforcement of any of Lender's rights against Borrower or any such
endorser or guarantor and against any collateral given to Lender to secure the
within Note or any other liabilities of the Borrower or such endorser and
guarantor to the Lender (whether or not suit is instituted by or against
Lender). The within indemnification shall survive payment of the Liabilities (as
said term is defined in the Mortgage and Security Agreement of even date) and/or
any termination, release, partial release or discharge of the Mortgage and
Security Agreement or any of the Loan Documents executed by the Lender in favor
of Borrower. Notwithstanding the foregoing, said indemnification shall not apply
to any claims or losses resulting from the gross negligence, willful misconduct
and actual bad faith of the Lender, its employees or agents.

                                       16
<PAGE>
42.   Determinations by Lender.  Omitted.

43.   No Third Party Beneficiary.

      This Agreement is intended solely for the benefit of Borrower, Guarantor
and Lender and their respective successors and assigns, and no third party shall
have any rights or interest in the Operating Accounts, the Escrow Account, this
Agreement, the Note, the Mortgage or any of the other Loan Documents. Nothing
contained in this Agreement shall be deemed or construed to create an obligation
on the part of Lender to any third party nor shall any third party have a right
to enforce against Lender any right that Borrower may have under this Agreement.

44.   No Agency or Partnership.

      Nothing contained in this Agreement shall constitute Lender as a joint
venturer, partner or agent of Borrower, or render Lender liable for any debts,
obligations, acts, omissions, representations, or contracts of Borrower.

45.   Entire Agreement; Amendment and Waiver.

      This Agreement contains the complete and entire understanding of the
parties with respect to the Operating Accounts and the Escrow Account. No
specific waiver of any of the terms of this Agreement shall be considered as a
general waiver. If any provision of this Agreement is in conflict with any
provision of the Note, the Mortgage or any other Loan Document regarding the
Escrow Account, the provisions contained in this Agreement shall control. Any
undefined capitalized terms used herein shall have the same meaning as set forth
in the mortgage and Security Agreement of even date herewith.

46.   Liability.

      If more than one party executes this Agreement the term Borrower shall
mean all of them, and each of them shall be jointly and severally liable
hereunder.

47.   Inapplicable Provisions.

      The invalidity of any provisions of this Agreement shall in no way affect
the validity of any other provision.

48.   Duplicate Originals; Counterparts.

      This Agreement may be executed in any number of duplicate originals and
each duplicate original shall be deemed to be an original. This Agreement may be
executed in several counterparts, each of which counterparts shall be deemed an
original instrument and all of which together shall constitute

                                       17
<PAGE>
a single Agreement. The failure of any party hereto to execute this Agreement,
or any counterpart hereof, shall not relieve the other signatories from their
obligations hereunder

49.   Legal Proceedings.

      Lender shall have the right, but not the duty, to intervene or otherwise
participate in any legal or equitable proceeding which, in Lender's sole
judgment, affects the Mortgaged Property or any of the rights created or secured
by any of the Loan Documents. Lender shall have such right whether or not there
is a continuing Event of Default hereunder.

50.   Tax Good Standing Certificates.

      Borrower represents and warrants to Lender that Borrower and the two
lessees which are affiliates of Borrower (the "Affiliated Lessees") have filed
with The Commonwealth of Massachusetts and State of Delaware, respectively, all
required annual reports and tax returns, and have paid all taxes due as set
forth on such tax returns. Borrower and the Affiliated Lessees will exercise
reasonable efforts, including without limitation filing additional documents and
paying fees required by law, to obtain Tax Good Standing Certificates and, in
the case of Wonderland Greyhound Park, Inc., a Corporate Excise Tax Lien Waiver
under M.G.L. c. 62C, s. 51, and shall deliver such documents to Lender promptly
upon issuance by The Commonwealth of Massachusetts and State of Delaware,
respectively. Failure by Borrower and or the Affiliated Lessees to deliver all
certificates described in this paragraph on or before the date which is six (6)
months from the date hereof shall give Lender the continuing right, but without
obligation, to declare the occurrence of an Event of Default hereunder.

                                       18
<PAGE>
      Executed under seal as of the date first above written.

WITNESS:                               BORROWER:

                                       WONDERLAND GREYHOUND PARK REALTY, LLC

                                       By:  Wonderland Greyhound Park, Inc.

                                             By:/s/ Richard P. Dalton
                                                ---------------------
                                                  Richard P. Dalton
                                                  President

                                       GUARANTOR:

                                       THE WESTWOOD GROUP, INC.

                                       By:/s/ Richard P. Dalton
                                          --------------------------
                                           Richard P. Dalton
                                           President
                                           Hereunto duly authorized

                                       LENDER:

                                       BOSTON FEDERAL SAVINGS BANK

                                       By: /s/ Richard J. Kennedy
                                          -----------------------
                                           Richard J. Kennedy
                                           Vice President

                                       19

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00046-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00046-of-00352.parquet"}]]