Document:

exv10w12xby

 

Exhibit
10.12(b)

SECOND AMENDMENT TO DOCKAGE AGREEMENT

     THIS
SECOND AMENDMENT TO DOCKAGE AGREEMENT (“Amendment”) is made and entered into on this, the
27th day of July, 1995, by and between THE GREENVILLE YACHT CLUB, a Mississippi corporation
(hereinafter “Yacht Club”), and COTTON CLUB OF GREENVILLE, INC., d/b/a COTTON CLUB CASINO, a
Mississippi corporation (hereinafter “Cotton Club”).

WITNESSETH:

     WHEREAS, on or about December 29, 1992 the Yacht Club and Cotton Club entered into that
certain Dockage Agreement (hereinafter “Original
Agreement”); and

     WHEREAS, on or about April 2, 1993, the Yacht Club and Cotton Club amended the Original
Agreement to modify its terms governing payment of the initial dockage fee (for the year 1993);
and

     WHEREAS, the Yacht Club and Cotton Club desire to amend further the Original Agreement and to
resolve certain differences which have arisen between them, all as set forth herein.

     NOW, THEREFORE, in consideration of the premises and the respective mutual agreements,
covenants, representations and warranties contained herein and in the Original Agreement, the
sufficiency of which is hereby acknowledged, the Original Agreement is further modified, altered
and changed in the following respects only, and the parties agree as follows:

     1. The
provision in Section 7 of the Original Agreement requiring Cotton Club to
make annual payments is changed to provide for payment of the dockage fees in consecutive, equal
monthly installments, to be paid together with: (a) Mississippi sales tax on those fees at the
applicable rate; and (b) interest on the unpaid balance of that year’s dockage fee at a rate
initially equal to that paid to Planters Bank & Trust Company by the Yacht Club for the

 

 

duration of the Yacht Club’s current indebtedness to that bank, and thereafter at a rate equal to
one percent (1%) over the prime loan rate announced by Planters Bank from time to time. Such
monthly installments shall be paid on the 9th day of each month. The Yacht Club acknowledges that
Cotton Club has paid it all monthly dockage fees, interest and sales tax through July, 1995, and
the parties agree that Cotton Club shall begin making the monthly payments provided for above on
August 9, 1995, and continuing through the primary and any extended term of the Original Agreement,
subject to Cotton Club’s rights to terminate. In the event Cotton Club exercises its right to
terminate in accordance With Section 3(b) of the Original Agreement, that termination shall not
relieve or otherwise effect Cotton Club’s obligation to pay the balance of that year’s dockage fee,
sales tax and interest in the amounts and on the dates set forth above. The “full dockage fee for
the next succeeding year” which Cotton Club shall be obligated to pay in the event of such
termination shall be the then annual dockage fee set forth in ¶ 7 of the Original Agreement, which
sum shall be paid in a lump sum (and not in monthly payments) in advance on or before the 29th day
of December in the year in which Cotton Club gives its written notice of termination; provided,
however, Cotton Club shall not be obligated to pay any portion of the Mississippi sales tax on that
dockage fee.

     2. In addition to the payments provided for in Section 7 of the Original Agreement, as
amended herein, Cotton Club agrees that it shall pay to the Yacht Club the sum of $1,750.00 per
month, on the 9th day of each month, beginning on August 9, 1995, and ending on December 9,
1995, said payment representing the balance of one-half of the Mississippi sales tax due on the
dockage fees paid by Cotton Club to the Yacht Club during 1993 and 1994.

     3. In addition to the payments provided for in the Original Agreement, as amended herein,
Cotton Club agrees that it shall pay the Yacht Club the sum of One Hundred Thousand and No/100
Dollars ($100,000) for a full, final and complete release of any claims (a) of ownership that
Yacht Club may have on the barge presently used by Cotton Club to provide

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ingress and egress to Cotton Club and the Yacht Club and (b) for damages to Yacht Club’s
piers, gangways, anchors, vessels, cables, etc., resulting from adjustments to the parties’ mooring cable (s) and/or anchor(s). That sum of $100,000.00 shall be paid as follows: the
sum of Fifty Thousand and No/100 Dollars ($50,000.00) in cash on November 1, 1995;
beginning December 9, 1995, and continuing on the ninth day of each month thereafter,
through and including September 9, 1996, the sum of Five Thousand and No/100 Dollars
($5,000.00) in cash. The Yacht Club agrees that upon payment of that sum of $100,000.00
by Cotton Club all such claims of Yacht Club to ownership of the barge (including its cables,
gangway, etc., and any fixtures thereon) and for damages to its piers, gangways, etc., shall be deemed to be released and discharged, end Yacht Club shall execute any and all documents
to further effectuate and/or document such release.

     4. Effective upon payment of the aforesaid sum of $100,000.00, Section 18 of
the Original Agreement shall be deemed to be amended to read as follows:

This Agreement entitles Cotton Club to dock no more than one (1)
gaming casino at the location contemplated by this Agreement.
However, Cotton Club shall be permitted to furnish and position one
or more additional vessels across the front of Cotton Club’s and
Yacht Club’s vessels for use in boarding those vessels. Yacht Club
makes no claim of ownership over, on, in or to either Cotton Club’s
gaming casino or its barge.

     5. In the event the payments set forth in ¶ ¶ 1, 2 and 3 above are not paid when
due, and that failure to pay shall continue for ten (10) days after Yacht Club simultaneously
(a) mails by certified or registered mail and (b) transmits via facsimile, to Cotton Club and to
its attorneys (to the addresses and fax numbers set forth in ¶ 8 below) written notice of such
failure to pay, then Yacht Club may invoke the default remedies under ¶ 19 of the Original
Agreement; and, in addition, a late penalty shall be assessed thereafter as follows: $35.00 for the first day, or portion thereof; $60.00 for the second day, or portion thereof; $80.00 for the
third day, or portion thereof; $125.00 for the fourth day, or portion thereof, $150.00 for the
fifth day, or portion thereof; and $500.00 for the sixth and each subsequent day, or portion
thereof.

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     6. The last sentence of the first paragraph of Section 13 of the Original Agreement
is deleted, and the following inserted in lieu thereof:

Cotton Club agrees that on or before the end of the term of the Original Agreement
and any renewals or extensions thereof, it shall provide the Yacht Club with
ingress and egress comparable to that utilized by the Yacht Club prior to Cotton
Club’s dockage of its vessel.

     7. Yacht Club hereby waives and/or forgives any default by Cotton Club under the Original
Agreement through and including the date of this Amendment and, likewise, the release of Yacht
Club’s claims for damages to its piers, etc., set forth in ¶ 3 above, is limited to actions and
conduct occurring prior to this Amendment.

     8. The substance (but not the title) of Section 28 of the Original Agreement is deleted and
the following inserted in lieu thereof: Except as otherwise expressly provided, all notices and
other communications provided for hereunder shall be in writing (including telegraphic, telex,
telecopier or cable communication) and mailed, telegraphed, telexed, telecopied, cabled or
delivered:

	 	 	 	 	 	 	 
	 

	 	If to Yacht Club:
	 	 	 	Greenville Yacht Club
	 

	 	 	 	 	 	P. O. Box 417
	 

	 	 	 	 	 	Greenville, MS 38702-0417
	 

	 	 	 	 	 	Attention: J. T. Hall, Commodore
	 
	 	 	 	 	 	 
	 

	 	with copies to:
	 	 	 	C. W. Walker, III
	 

	 	 	 	 	 	Lake, Tindall & Thackston
	 

	 	 	 	 	 	P. O. Box 918
	 

	 	 	 	 	 	Greenville, MS 38702-0918
	 

	 	 	 	 	 	Fax: (601) 378-2183
	 
	 	 	 	 	 	 
	 

	 	If to Cotton Club:
	 	 	 	Cotton Club of Greenville, Inc.
	 

	 	 	 	 	 	P. O. Box 1777
	 

	 	 	 	 	 	Greenville, MS 38702-1777
	 

	 	 	 	 	 	Attention: Mike Howard, CEO
	 

	 	 	 	 	 	Fax: (601) 378-8953

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	 	with copies to:
	 	 	 	Roy D. Campbell, III
	 

	 	 	 	 	 	Campbell, Delong, Hagwood & Wade
	 

	 	 	 	 	 	P. O. Box 1856
	 

	 	 	 	 	 	Greenville, MS 38702-1856
	 

	 	 	 	 	 	Fax: (601) 334-6407

or, as to Yacht Club or Cotton Club, at such other address as shall be designated by such party in a written notice to the other party hereto. All such notices and communications addressed to Yacht
Club or Cotton Club shall, if sent through the United States Mail, be effective when deposited in
the United States Mail, or, if sent by telegraph, telex, telecopy or cable or overnight courier, be
effective when so telegraphed, telexed, telecopied, cabled, or delivered to overnight courier,
or, if sent by hand-delivery, be effective on the same day so sent.

     9. Cotton Club and the Yacht Club agree that, except as specifically modified and amended as
set forth in this Amendment, the Original Agreement shall remain in full force and effect. They
further agree that, except as expressly stated herein, the amendments and agreements stated herein
shall take effect immediately.

     10. This Amendment may be executed in multiple originals. This document likewise may be
executed in multiple counterparts which when taken together shall constitute a single agreement.

     IN WITNESS WHEREOF the parties have executed this Amendment as of the day and year first
above written.

	 	 	 	 	 
	 	COTTON CLUB OF GREENVILLE, INC.

 	 
	 	By:  	/s/ Mike Howard
	 
	 	 	Mike Howard, CEO 	 
	 	 	 	 
	 
	 	THE GREENVILLE YACHT CLUB

 	 
	 	By:  	/s/ J. T. Hall  	 
	 	 	J. T. Hall, Commodore      	 
	 	 	 	 
	 

5exv10w12xcy

 

Exhibit
10.12(c)

THIRD AMENDMENT TO DOCKAGE AGREEMENT

     THIS THIRD AMENDMENT TO DOCKAGE AGREEMENT (hereinafter “Third Amendment”) is made and entered
into on this the 22nd day of December, 1997, by and between THE GREENVILLE YACHT CLUB, a
Mississippi corporation (hereinafter “Yacht Club”); and ALPHA GULF COAST, INC., a Delaware
corporation, d/b/a Bayou Caddy’s jubilee Casino (hereinafter
“Alpha Gulf Coast”).

WITNESSETH:

     WHEREAS, on or about December 29, 1992, the Yacht Club and Cotton Club of Greenville, Inc.,
d/b/a Cotton Club Casino (hereinafter “Cotton Club”) entered into that certain Dockage Agreement
(hereinafter “Original Agreement”); and

     WHEREAS, on or about April 2, 1993, the Yacht Club and Cotton Club amended the Original
Agreement to modify its terms governing payment of the initial dockage fee (for the year 1993);
and

     WHEREAS, on or about July 27, 1995, the Yacht Club and Cotton Club amended the Original
Agreement further to provide for monthly payment of dockage fees, payment of certain sales taxes,
release of certain claims, and payment of penalties for late payments (hereinafter ‘Second
Amendment”) [the Original Agreement, the amendment dated 4-2-93 and the Second Amendment are
hereinafter referred to collectively as the “Amended Dockage Agreement”]; and

     WHEREAS, by Assignment of Agreements dated December 11, 1997, Jubilation Lakeshore, Inc.
(formerly “Cotton Club of Greenville, Inc.”) assigned its rights in the Amended Dockage Agreement
to Alpha Gulf Coast; and

     WHEREAS, Alpha Gulf Coast failed to give the Yacht Club timely notice, pursuant to Section 6
of the Original Agreement, of its exercise of its option to renew for an additional term of five
years and has requested the Yacht Club to waive such notice; and

 

 

     WHEREAS, the Yacht Club has agreed to waive that notice, in consideration for Alpha Gulf
Coast’s cash payment of Fifty Thousand Dollars ($50,000.00) and the further amendment of the
Amended Dockage Agreement, all as set forth herein.

     NOW, THEREFORE, in consideration of the premises and the respective mutual agreements,
covenants, representations and warranties contained herein and in the Amended Dockage Agreement,
the sufficiency of which is hereby acknowledged, the Amended Dockage Agreement is further modified,
altered and changed in the following respects only, and the parties agree as follows:

     1. Alpha Gulf Coast hereby notifies Yacht Club, and the Yacht Club acknowledges receipt of
such notice and waives any further notice requirements under Section 6 of the Original
Agreement, of its exercise of the first five (5) year option, which term shall begin at 12:01
a.m. (Central Standard Time) on December 29, 1997, and shall expire sixty (60) months
thereafter, at midnight on December 28, 2002, subject to Alpha Gulf Coast’s right to exercise
the second five (5) year option.

     2. Simultaneously with the execution of this Third Amendment and in consideration of the waiver of notice as set forth in paragraph 1 above, Alpha Gulf coast has paid the Yacht Club the cash sum of $50,000.00, the receipt and sufficiency of which the Yacht Club hereby
acknowledges.

     3. The
provision in Section 3(b) of the Original Agreement, granting to Alpha Gulf Coast
the right to terminate that Agreement and to then pay only one year’s dockage fee, is hereby
deleted and Alpha Gulf Coast shall have no right to terminate its obligations under the Amended
Dockage Agreement without cause.

     4. That
portion of paragraph 5 of the Second Amendment providing for the assessment of
late penalties, following notice, is hereby deleted and in lieu thereof it is agreed

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that a late penalty of $200.00 per day shall be assessed for every day the payments are not paid
when due, which penalty shall not be conditioned upon the giving or receipt of any notice.

     5. The last sentence of the first paragraph of Section 13 of the Original Agreement is
deleted, all of paragraph 6 of the Second Amendment is deleted, and the following is inserted in
lieu thereof:

Alpha Gulf Coast agrees that on or before the end of the term of the
Original Agreement and any renewals or extensions thereof, it shall
provide the Yacht Club with ingress and egress, and with moorage,
comparable to that utilized by the Yacht Club prior to dockage of
Cotton Club’s vessel.

     6. The amendments and agreements stated herein take effect immediately.

     7. Alpha Gulf Coast and the Yacht Club agree that, except as specifically modified herein,
the Amended Dockage Agreement remains in full force and effect.

     8. This Third Amendment may be executed in multiple originals. Likewise, this Third
Amendment may be executed in multiple counterparts which, when taken together, shall constitute a
single agreement.

     IN WITNESS WHEREOF the parties have executed this Third Amendment to Dockage Agreement as of
the day and year first above written.

	 	 	 	 	 	 	 
	 	 	ALPHA GULF COAST,
INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Thomas W. Aro
 

     Thomas W. Aro, President
	 	 
	 
	 	 	 	 	 	 
	 	 	THE GREENVILLE YACHT CLUB	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Marcus E. Hooker
 

     Marcus E. Hooker, Commodore
	 	 

	 	 	 
	ATTEST:
	 	 
	 
	 	 
	/s/ [ILLEGIBLE]
 

Secretary

	 	 

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