Document:

<PAGE>

                                                                  Exhibit 10.134

[LOGO
 BANK ONE]
                                                                       Term Note

                                                                     $380,000.00
Due: October 6, 2004                                      Date: November 6, 2001

Promise to Pay. On or before October 6, 2004, for value received, the
undersigned (the "Borrower") promises to pay to Bank One, NA, with its main
office in Chicago, IL, whose address is 1301 S. Bowen Rd., Arlington, TX 76013
(the "Bank") or order, in lawful money of the United States of America, the sum
of Three Hundred Eighty Thousand and 00/100 Dollars ($380,000.00) plus interest
computed on the basis of the actual number of days elapsed in a year of 360 days
at the rate of 0.25% per annum above the Prime Rate (the "Note Rate"), and at
the rate of 3.00% per annum above the Note Rate, at the Bank's option, upon the
occurrence of any default under this Note, whether or not the Bank elects to
accelerate the maturity of this Note, from the date such increased rate is
imposed by the Bank. In this Note, "Prime Rate" means a rate per annum equal to
the prime rate of interest announced from time to time by the Bank or its parent
(which rate is not necessarily the lowest rate charged to any customer),
changing when and as the prime rate changes.

In no event shall the interest rate exceed the maximum rate allowed by law. Any
interest payment that would for any reason be unlawful under applicable law
shall be applied to principal.

The Borrower will pay this sum in consecutive monthly installments of Three
Thousand One Hundred Fifty-Five and 56/100 Dollars ($3,155.56), including all
accrued but unpaid interest, commencing December 6, 2001, and continuing on the
same day of each calendar month thereafter until October 6, 2004, at which time
the entire balance of unpaid principal plus accrued interest shall be due and
payable immediately provided however, on each anniversary date of this Note
prior to maturity beginning in 2002 (each, an "Anniversary Date"), the amount of
the monthly installments of principal and interest thereafter due and payable
shall be adjusted to an amount sufficient to amortize the unpaid principal
balance on such Adjustment Date (after giving effect to any payment due on such
date), at the interest rate then in effect, in equal monthly installments of
principal and interest over an assumed term which begins on such date and ends
on the anniversary date of this Note in 2016; and further provided however, that
in no event shall any monthly payment be less than the amount of the accrued but
unpaid interest under this Note as of such payment due date.

The Borrower will pay, without setoff, deduction, or counterclaim, the Bank at
the Bank's address above or at such other place as the Bank may designate in
writing. If any payment of principal or interest on this Note shall become due
on a day that is not a Business Day, the payment will be made on the next
succeeding Business Day. The term "Business Day" in this Note means a day other
than a Saturday, Sunday or any other day on which national banking associations
are authorized to be closed. Payments shall be allocated among principal,
interest and fees at the discretion of the Bank unless otherwise agreed or
required by applicable law. Acceptance by the Bank of any payment that is less
than the payment due at that time shall not constitute a waiver of the Bank's
right to receive payment in full at that time or any other time.

Late Fee. If any payment is not received by the Bank within ten (10) days after
its due date, the Bank may assess and the Borrower agrees to pay a late fee
equal to the greater of: (a) five percent (5.00%) of the past due amount or (b)
Twenty Five and 00/100 Dollars ($25.00), up to the maximum amount of One
Thousand Five Hundred and 00/100 Dollars ($1,500.00) per late charge.

Fees.  Payment of the following fees, all of which the Borrower acknowledges
have been earned by the Bank: a one half percent origination fee in the amount
of $1,900.00.

Business Loan. The Borrower acknowledges and agrees that this Note evidences a
loan for a business, commercial, agricultural or similar commercial enterprise
purpose, and that all advances made under this Note shall not be used for any
personal, family or household purpose.

Liabilities. The term "Liabilities" in this Note means all obligations,
indebtedness and liabilities of the Borrower to any one or more of the Bank,
BANK ONE CORPORATION, and any of their subsidiaries, affiliates or successors,
now existing or later arising, including, without limitation, all loans,
advances, interest, costs, overdraft indebtedness, credit card indebtedness,
lease obligations, or obligations relating to any Rate Management Transaction,
all monetary obligations incurred or accrued during the pendency of any
<PAGE>

bankruptcy, insolvency, receivership or other similar proceedings, regardless of
whether allowed or allowable in such proceeding, and all renewals, extensions,
modifications, consolidations or substitutions of any of the foregoing, whether
the Borrower may be liable jointly with others or individually liable as a
debtor, maker, co-maker, drawer, endorser, guarantor, surety or otherwise, and
whether voluntarily or involuntarily incurred, due or not due, absolute or
contingent, direct or indirect, liquidated or unliquidated. The term "Rate
Management Transaction" in this Note means any transaction (including an
agreement with respect thereto) now existing or hereafter entered into among the
Borrower, the Bank or BANK ONE CORPORATION, or any of its subsidiaries or
affiliates or their successors, which is a rate swap, basis swap, forward rate
transaction, commodity swap, commodity option, equity or equity index swap,
equity or equity index option, bond option, interest rate option, foreign
exchange transaction, cap transaction, floor transaction, collar transaction,
forward transaction, currency swap transaction, cross-currency rate swap
transaction, currency option or any other similar transaction (including any
option with respect to any of these transactions) or any combination thereof,
whether linked to one or more interest rates, foreign currencies, commodity
prices, equity prices or other financial measures.

Related Documents. The term "Related Documents" in this Note means all loan
agreements, credit agreements, reimbursement agreements, security agreements,
mortgages, deeds of trust, pledge agreements, assignments, guaranties, or any
other instrument or document executed in connection with this Note or in
connection with any of the Liabilities.

Security. The term "Collateral" in this Note means all real or personal property
described in all security agreements, pledge agreements, mortgages, deeds of
trust, assignments, or other instruments now or hereafter executed in connection
with this Note or in connection with any of the Liabilities. If applicable, the
Collateral secures the payment of this Note and the Liabilities.

Bank's Right of Setoff. In addition to the Collateral, if any, the Borrower
grants to the Bank a security interest in, and the Bank is authorized to setoff
and apply, all Accounts, Securities and Other Property, and Bank Debt against
any and all Liabilities of the Borrower. This right of setoff may be exercised
at any time and from time to time, and without prior notice to the Borrower.
This security interest and right of setoff may be enforced or exercised by the
Bank regardless of whether or not the Bank has made any demand under this
paragraph or whether the Liabilities are contingent, matured, or unmatured. Any
delay, neglect or conduct by the Bank in exercising its rights under this
paragraph will not be a waiver of the right to exercise this right of setoff or
enforce this security interest. The rights of the Bank under this paragraph are
in addition to other rights the Bank may have in the Related Documents or by
law. In this paragraph: (a) the term "Accounts" means any and all accounts and
deposits of the Borrower (whether general, special, time, demand, provisional or
final) at any time held by the Bank (including all Accounts held jointly with
another, but excluding any IRA or Keogh Account, or any trust Account in which a
security interest would be prohibited by law); (b) the term "Securities and
Other Property" means any and all securities and other property of the Borrower
in the custody, possession or control of the Bank (other than property held by
the Bank in a fiduciary capacity); and (c) the term "Bank Debt" means all
indebtedness at any time owing by the Bank, to or for the credit or account of
the Borrower.

Prepayment Premium. Notwithstanding any contrary provision which may be
contained in the note.  Borrower shall have the right at any time and from time
to time, to prepay all or any part of the principal of the Note, for which right
Borrower shall also pay a penalty equal to percentage of the prepayment amount.
Prior to the first anniversary date of the Note, penalty shall be 3%. After the
first anniversary date of the Note and after each successive anniversary date
thereafter, the penalty previously in effect shall reduce by one percent (1%).
Partial prepayments shall be applied to installments of principal in the inverse
order of maturity and will not reduce the amount or time of payment of the
remaining installments.

Representations by Borrower. Each Borrower represents that: (a) the execution
and delivery of this Note and the performance of the obligations it imposes do
not violate any law, conflict with any agreement by which it is bound, or
require the consent or approval of any governmental authority or other third
party; (b) this Note is a valid and binding agreement, enforceable according to
its terms; and (c) all balance sheets, profit and loss statements, and other
financial statements furnished to the Bank in connection with the Liabilities
are accurate and fairly reflect the financial condition of the organizations and
persons to which they apply on their effective dates, including contingent
liabilities of every type, which financial condition has not changed materially
and adversely since those dates. Each Borrower, other than a natural person,
further represents that: (a) it is duly organized, existing and in good standing
pursuant to the laws under which it is organized; and (b) the execution and
delivery of this Note and the performance of the obligations it imposes (i) are
within its powers and have been duly authorized by all necessary action of its
governing body, and (ii) do not contravene the terms of its articles of
incorporation or organization, its by-laws, or any partnership, operating or
other agreement governing its affairs.

Events of Default/Acceleration. If any of the following events occurs this Note
shall become due immediately, without notice, at the Bank's option, and the
Borrower hereby waives notice of intent to accelerate maturity of this Note and
notice of acceleration of this Note upon any of the following events:
<PAGE>

1.   The Borrower, or any guarantor of this Note (the "Guarantor"), fails to pay
     when due any amount payable under this Note, under any of the Liabilities,
     or under any agreement or instrument evidencing debt to any creditor.
2.   The Borrower or any Guarantor (a) fails to observe or perform any other
     term of this Note; (b) makes any materially incorrect or misleading
     representation, warranty, or certificate to the Bank; (c) makes any
     materially incorrect or misleading representation in any financial
     statement or other information delivered to the Bank; or (d) defaults under
     the terms of any agreement or instrument relating to any debt for borrowed
     money (other than the debt evidenced by this Note) and the effect of such
     default will allow the creditor to declare the debt due before its
     maturity.
3.   In the event (a) there is a default under the terms of any Related
     Document, (b) any guaranty of the loan evidenced by this Note is terminated
     or becomes unenforceable in whole or in part, (c) any Guarantor fails to
     promptly perform under its guaranty, or (d) the Borrower fails to comply
     with, or pay, or perform under any agreement, now or hereafter in effect,
     between the Borrower and BANK ONE CORPORATION, or any of its subsidiaries
     or affiliates or their successors.
4.   There is any loss, theft, damage, or destruction of any Collateral not
     covered by insurance.
5.   A "reportable event" (as defined in the Employee Retirement Income Security
     Act of 1974 as amended) occurs that would permit the Pension Benefit
     Guaranty Corporation to terminate any employee benefit plan of the Borrower
     or any affiliate of the Borrower.
6.   The Borrower or any Guarantor becomes insolvent or unable to pay its debts
     as they become due.
7.   The Borrower or any Guarantor (a) makes an assignment for the benefit of
     creditors; (b) consents to the appointment of a custodian, receiver, or
     trustee for itself or for a substantial part of its assets; or (c)
     commences any proceeding under any bankruptcy, reorganization, liquidation,
     insolvency or similar laws of any jurisdiction.
8.   A custodian, receiver, or trustee is appointed for the Borrower or any
     Guarantor or for a substantial part of its assets without its consent.
9.   Proceedings are commenced against the Borrower or any Guarantor under any
     bankruptcy, reorganization, liquidation, or similar laws of any
     jurisdiction, and they remain undismissed for thirty (30) days after
     commencement; or the Borrower or the Guarantor consents to the commencement
     of those proceedings.
10.  Any judgment is entered against the Borrower or any Guarantor, or any
     attachment, levy, or garnishment is issued against any property of the
     Borrower or any Guarantor.
11.  The Borrower or any Guarantor dies.
12.  The Borrower or any Guarantor, without the Bank's written consent (a) is
     dissolved, (b) merges or consolidates with any third party, (c) leases,
     sells or otherwise conveys a material part of its assets or business
     outside the ordinary course of its business, (d) leases, purchases, or
     otherwise acquires a material part of the assets of any other business
     entity, except in the ordinary course of its business, or (e) agrees to do
     any of the foregoing (notwithstanding the foregoing, any subsidiary may
     merge or consolidate with any other subsidiary, or with the Borrower, so
     long as the Borrower is the survivor).
13.  There is a substantial change in the existing or prospective financial
     condition of the Borrower or any Guarantor that the Bank in good faith
     determines to be materially adverse.
14.  The Bank in good faith deems itself insecure.

Remedies. If this Note is not paid at maturity, whether by acceleration or
otherwise, the Bank shall have all of the rights and remedies provided by any
law or agreement. The Bank is authorized to cause all or any part of the
Collateral to be transferred to or registered in its name or in the name of any
other person or business entity, with or without designating the capacity of
that nominee. Without limiting any other available remedy, the Borrower is
liable for any deficiency remaining after disposition of any Collateral. The
Borrower is liable to the Bank for all reasonable costs and expenses of every
kind incurred in the making or collection of this Note, including without
limitation reasonable attorneys' fees and court costs. These costs and expenses
include without limitation any costs or expenses incurred by the Bank in any
bankruptcy, reorganization, insolvency or other similar proceeding.

Waivers. Any party liable on this Note waives (a) to the extent permitted by
law, all rights and benefits under any laws or statutes regarding sureties, as
may be amended; (b) any right to receive notice of the following matters before
the Bank enforces any of its rights: (i) the Bank's acceptance of this Note,
(ii) any credit that the Bank extends to the Borrower, (iii) the Borrower's
default, (iv) any demand, diligence, presentment, dishonor and protest, or (v)
any action that the Bank takes regarding the Borrower, anyone else, any
Collateral, or any of the Liabilities, that it might be entitled to by law or
under any other agreement; (c) any right to require the Bank to proceed against
the Borrower, any other obligor or guarantor of the Liabilities, or any
Collateral, or pursue any remedy in the Bank's power to pursue; (d) any defense
based on any claim that any endorser or other parties' obligations exceed or are
more burdensome than those of the Borrower; (e) the benefit of any statute of
limitations affecting liability of any endorser or other party liable hereunder
or the enforcement hereof; (f) any defense arising by reason of any disability
or other defense of the Borrower or by reason of the cessation from any cause
whatsoever (other than payment in full) of the obligation of the Borrower for
the Liabilities; and (g) any defense based on or arising out of any defense that
the Borrower may have to the payment or performance of the Liabilities or any
portion thereof. Any party liable on this Note consents to any extension or
postponement of time of its payment
<PAGE>

without limit as to the number or period, to any substitution, exchange or
release of all or any part of the Collateral, to the addition of any other
party, and to the release or discharge of, or suspension of any rights and
remedies against, any person who may be liable for the payment of this Note. The
Bank may waive or delay enforcing any of its rights without losing them. Any
waiver affects only the specific terms and time period stated in the waiver. No
modification or waiver of any provision of this Note is effective unless it is
in writing and signed by the party against whom it is being enforced.

Subordination. Any rights of any party liable on this Note, whether now existing
or hereafter arising, to receive payment on account of any indebtedness
(including interest) owed to any party liable on this Note by the Borrower, or
to withdraw capital invested by it in the Borrower, or to receive distributions
from the Borrower, shall at all times be subordinate to the full and prior
repayment to the Bank of the Liabilities. No party liable on this Note shall be
entitled to enforce or receive payment of any sums hereby subordinated until the
Liabilities have been paid in full and any such sums received in violation of
this paragraph shall be received by such party in trust for the Bank. Any party
liable on this Note agrees to stand still with regard to the Bank's enforcement
of its rights, including taking no action to delay, impede or otherwise
interfere with the Bank's rights to realize on the Collateral. The foregoing
notwithstanding, until the occurrence of any default, any party liable on this
Note is not prohibited from receiving distributions from the Borrower in an
amount equal to any income tax liability imposed on such party liable on this
Note attributable to an ownership interest in the Borrower, if any.

Rights of Subrogation. Any party liable on this Note waives and agrees not to
enforce any rights of subrogation, contribution or indemnification that it may
have against the Borrower, any person liable on the Liabilities, or the
Collateral, until the Borrower and such party liable on this Note have fully
performed all their obligations to the Bank, even if those obligations are not
covered by this Note.

Reinstatement. All parties liable on this Note agree that to the extent any
payment is received by the Bank in connection with the Liabilities, and all or
any part of such payment is subsequently invalidated, declared to be fraudulent
or preferential, set aside or required to be repaid by the Bank or paid over to
a trustee, receiver or any other entity, whether under any bankruptcy act or
otherwise (any such payment is hereinafter referred to as a "Preferential
Payment"), then this Note shall continue to be effective or shall be reinstated,
as the case may be, and whether or not the Bank is in possession of this Note,
and, to the extent of such payment or repayment by the Bank, the Liabilities or
part thereof intended to be satisfied by such Preferential Payment shall be
revived and continued in full force and effect as if said Preferential Payment
had not been made.

Governing Law and Venue. This Note is delivered in the State of Texas and
governed by Texas law (without giving effect to its laws of conflicts). The
Borrower agrees that any legal action or proceeding with respect to any of its
obligations under this Note may be brought by the Bank in any state or federal
court located in the State of Texas, as the Bank in its sole discretion may
elect. By the execution and delivery of this Note, the Borrower submits to and
accepts, for itself and in respect of its property, generally and
unconditionally, the non-exclusive jurisdiction of those courts. The Borrower
waives any claim that the State of Texas is not a convenient forum or the proper
venue for any such suit, action or proceeding.

Usury. The Bank does not intend to charge, collect or receive any interest that
would exceed the maximum rate allowed by law. If the effect of any applicable
law is to render usurious any amount called for under this Note or the other
Related Documents, or if any amount is charged or received with respect to this
Note, or if any prepayment by the Borrower results in the Borrower having paid
any interest in excess of that permitted by law, then all excess amounts
collected by the Bank shall be credited on the principal balance of this Note
(or, if this Note and all other indebtedness arising under or pursuant to the
other Related Documents have been paid in full, refunded to the Borrower), and
the provisions of this Note and the other Related Documents immediately shall be
deemed reformed and the amounts thereafter collectable reduced, without the
necessity of the execution of any new document, so as to comply with the then
applicable law. All sums paid, or agreed to be paid, by the Borrower for the
use, forbearance, or detention of money under this Note or the other Related
Documents shall, to the maximum extent permitted by applicable law, be
amortized, prorated, allocated and spread throughout the full term of such
indebtedness until payment in full so that the rate or amount of interest on
account of such indebtedness does not exceed the usury ceiling from time to time
in effect and applicable to such indebtedness for so long as such indebtedness
is outstanding. To the extent federal law permits the Bank to contract for,
charge or receive a greater amount of interest, the Bank will rely on federal
law instead of the Texas Finance Code. In no event shall Chapter 346 of the
Texas Finance Code apply to this Note. To the extent that Chapter 303 of the
Texas Finance Code is applicable to this Note, the "weekly ceiling" specified in
Chapter 303 is the applicable ceiling.

Miscellaneous. The Borrower, if more than one, is jointly and severally liable
for the obligations represented by this Note, the term "Borrower" means any one
or more of them, and the receipt of value by any one of them constitutes the
receipt of value by the others. This Note binds the Borrower and its successors,
and benefits the Bank, its successors and assigns. Any reference to the Bank
includes any holder of this Note. Section headings are for convenience of
reference only and do not affect the interpretation of this Note. Any
<PAGE>

notices and demands under or related to this document shall be in writing and
delivered to the intended party at its address stated herein, and if to the
Bank, at its main office if no other address of the Bank is specified herein, by
one of the following means: (a) by hand, (b) by a nationally recognized
overnight courier service, or (c) by certified mail, postage prepaid, with
return receipt requested. Notice shall be deemed given: (a) upon receipt if
delivered by hand, (b) on the Delivery Day after the day of deposit with a
nationally recognized courier service, or (c) on the third Delivery Day after
the notice is deposited in the mail. "Delivery Day" means a day other than a
Saturday, a Sunday, or any other day on which national banking associations are
authorized to be closed. Any party may change its address for purposes of the
receipt of notices and demands by giving notice of such change in the manner
provided in this provision. This Note and any Related Documents embody the
entire agreement between the Borrower and the Bank regarding the terms of the
loan evidenced by this Note and supercede all oral statements and prior writings
relating to that loan. If any provision of this Note cannot be enforced, the
remaining portions of this Note shall continue in effect. The Borrower agrees
that the Bank may provide any information or knowledge the Bank may have about
the Borrower or about any matter relating to this Note or the Related Documents
to BANK ONE CORPORATION, or any of its subsidiaries or affiliates or their
successors, or to any one or more purchasers or potential purchasers of this
Note or the Related Documents. The Borrower agrees that the Bank may at any time
sell, assign or transfer one or more interests or participations in all or any
part of its rights and obligations in this Note to one or more purchasers
whether or not related to the Bank.

WAIVER OF SPECIAL DAMAGES. THE BORROWER WAIVES, TO THE MAXIMUM EXTENT NOT
PROHIBITED BY LAW, ANY RIGHT THE UNDERSIGNED MAY HAVE TO CLAIM OR RECOVER FROM
THE BANK IN ANY LEGAL ACTION OR PROCEEDING ANY SPECIAL, EXEMPLARY, PUNITIVE OR
CONSEQUENTIAL DAMAGES.
<PAGE>

JURY WAIVER. THE BORROWER AND THE BANK (BY ITS ACCEPTANCE HEREOF) HEREBY
VOLUNTARILY, KNOWINGLY, IRREVOCABLY AND UNCONDITIONALLY WAIVE ANY RIGHT TO HAVE
A JURY PARTICIPATE IN RESOLVING ANY DISPUTE (WHETHER BASED ON CONTRACT, TORT, OR
OTHERWISE) BETWEEN THE BORROWER AND THE BANK ARISING OUT OF OR IN ANY WAY
RELATED TO THIS NOTE OR THE OTHER RELATED DOCUMENTS. THIS PROVISION IS A
MATERIAL INDUCEMENT TO THE BANK TO PROVIDE THE FINANCING EVIDENCED BY THIS NOTE.

                                            Borrower:

Address: 1000 Crawford Place, Suite 400     Colonial Full Service Car Wash, Inc.
         Mt. Laurel, NJ 08054-3932

                                            By: /s/ Gregory M. Krzemien
                                                --------------------------------
                                                Gregory M. Krzemien    Treasurer
                                                --------------------------------
                                                Printed Name               Title<PAGE>

                                                                 Exhibit 10.1(A)
                                                                  CONFORMED COPY

                    AMENDMENT NO. 3 TO CREDIT AGREEMENTS

     AMENDMENT NO. 3 dated as of September 27, 2001 to each of the Second
Amended and Restated Credit Agreement (as previously amended by Amendment No. 1
to Credit Agreements ("Amendment No. 1") dated as of September 18, 2000 and
Amendment No. 2 to Credit Agreements ("Amendment No. 2") dated as of May 9,
2001, the "Second AR Credit Agreement") and the Credit Agreement (as previously
amended by Amendment No. 1 and Amendment No. 2, the "June 2000 Credit
Agreement"; the Second AR Credit Agreement and the June 2000 Credit Agreement
are together the "Credit Agreements" and each is individually a "Credit
Agreement"), each dated as of June 26, 2000 among Young Broadcasting Inc., a
Delaware corporation (the "Borrower"), the banks and other financial
institutions listed on the signature pages thereof, Bankers Trust Company, as
Administrative Agent (in such capacity, the "Administrative Agent") and, in the
case of the Second AR Credit Agreement only, as Issuing Bank, and First Union
National Bank and CIBC World Markets Corp., as Syndication Agents.

                              W I T N E S S E T H:

     WHEREAS, the Borrower has asked the Lenders under each Credit Agreement to
agree to certain amendments to the covenants contained in the Credit Agreements,
and the Lenders are willing to do so on the terms and conditions set forth
herein;

     NOW, THEREFORE, the parties hereto agree as follows:

                                    ARTICLE I

                                   DEFINITIONS

     SECTION 1.01. Definitions. As used herein, (i) capitalized terms defined
                   -----------
in, or defined by reference in, both Credit Agreements with identical meanings
and not otherwise defined herein, have the respective meanings provided for in
the Credit Agreements, and (ii) capitalized terms not otherwise defined herein
that are defined in, or by reference in, one of the Credit Agreements and not
defined in the other Credit Agreement, have the respective meanings provided for
in the Credit Agreement wherein such term is defined.

                                   ARTICLE II

                                    AMENDMENT

<PAGE>

     SECTION 2.01. Amendment to Interest Coverage Ratio. Section 5.01(m) of each
                   ------------------------------------
of the Credit Agreements is amended by deleting the ratio "1.40x" set forth in
the table contained therein opposite the Fiscal Quarter ending September 30,
2001 and inserting in its place the ratio "1.25x".

     SECTION 2.02. Amendment to Debt to Operating Cash Flow Ratio. Section
                   ----------------------------------------------
5.01(o) of each of the Credit Agreements is amended by deleting the ratio
"7.40x" set forth in the table contained therein opposite the Fiscal Quarter
ending September 30, 2001 and inserting in its place the ratio "7.85x".

                                   ARTICLE III

                                  MISCELLANEOUS

     SECTION 3.01. Representations Correct; No Default. The Borrower represents
                   -----------------------------------
and warrants that on and as of the date hereof: (i) the representations and
warranties contained in each of the Credit Agreements and each of the other Loan
Documents are correct; and (ii) no event has occurred and is continuing which
(assuming the effectiveness of this Amendment) constitutes (or would constitute)
a Default.

     SECTION 3.02. Effectiveness. This Amendment No. 3 shall become effective
                   -------------
upon the date (the "Effective Date") when the Administrative Agent receives duly
executed counterparts hereof signed by the Borrower, each Guarantor and the
Majority Lenders (or, in the case of any party as to which an executed
counterpart thereof shall not have been received, receipt by the Administrative
Agent in form satisfactory to it of telegraphic, telex or other written
confirmation from such party of execution of a counterpart hereof by such
party).

     SECTION 3.03. GOVERNING LAW. THIS AMENDMENT NO. 3 SHALL BE GOVERNED BY, AND
                   -------------
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

     SECTION 3.04. Effect of Amendments. Except as expressly set forth herein,
                   --------------------
the amendments contained herein shall not constitute a waiver or amendment of
any term or condition of either of the Credit Agreements or any other Loan
Document, and all such terms and conditions shall remain in full force and
effect and are hereby ratified and confirmed in all respects.

                                       2

<PAGE>

     SECTION 3.05. Execution in Counterparts. This Amendment No. 3 may be
                   -------------------------
executed in any number of counterparts and by different parties hereto in
separate counterparts, each of which when so executed being deemed an original
and all of which taken together constituting one and the same agreement.

                  (remainder of page intentionally left blank)

                                       3

<PAGE>

     IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 3 to
be executed by their respective authorized officers as of the date first above
written.

                                YOUNG BROADCASTING INC.

                                By: /s/ James A. Morgan
                                    -------------------------------------
                                    Title: Executive Vice President
                                    and Chief Financial Officer

                                BANKERS TRUST COMPANY, AS
                                ADMINISTRATIVE AGENT

                                By: /s/ Gregory Shefrin
                                    -------------------------------------
                                    Title: Director

                                FIRST UNION NATIONAL BANK, AS
                                SYNDICATION AGENT

                                By: /s/ Joe Mynatt
                                    -------------------------------------
                                    Title: Vice President

                                CIBC WORLD MARKETS CORP., AS
                                SYNDICATION AGENT

                                By: /s/ Tefta Ghilaga
                                    -------------------------------------
                                    Title: Executive Director

                                BANKS

                                ADDISON CDO, LIMITED (Acct 1279)
                                By: Pacific Investment Management Company
                                LLC, as its Investment Advisor

                                By:
                                    -------------------------------------
                                    Name:
                                    Title:

<PAGE>

                                AERIES FINANCE-II LTD.
                                By: INVESCO Senior Secured
                                Management, Inc. as Sub-Managing Agent

                                By:
                                    -------------------------------------
                                    Name:
                                    Title:

                                AIM FLOATING RATE FUND
                                By: INVESCO Senior Secured Management, Inc.
                                    as Attorney in fact

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                AIMCO CDO SERIES 2000-A

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                ALLSTATE LIFE INSURANCE COMPANY

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                By:
                                    -------------------------------------
                                Name:
                                Title:

<PAGE>

                                AMMC CDO II, LIMITED
                                By: American Money Management Corp.,
                                    as Collateral Manager

                                By: /s/ David P. Meyer
                                    -------------------------------------
                                Title:
                                Vice President

                                APEX (IDM) CDO I, LTD.

                                By: /s/ Mark K. Misenheimer
                                    -------------------------------------
                                Title: Senior Vice President

                                ARCHIMEDES FUNDING III, LTD.
                                By: ING Capital Advisors LLC, as
                                    Collateral Manager

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                ARCHIMEDES FUNDING IV (CAYMAN), LTD.
                                By: ING Capital Advisors LLC, as
                                    Collateral Manager

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                ARES III CLO LTD.
                                By: ARES CLO Management LLC, Investment Manager

                                By: /s/ Jeff Moore
                                    -------------------------------------
                                Title: Vice President

                                ARES IV CLO, LTD.
                                By: ARES CLO Management IV, L.P.,
                                Investment Manager
                                By: Ares CLO GP IV, LLC, Its Managing Member

                                By: /s/ Jeff Moore
                                    -------------------------------------
                                Title: Vice President

<PAGE>

                                ARES LEVERAGED INVESTMENT
                                FUND L.P.
                                By: ARES Management, L.P.
                                Its: General Partner

                                By: /s/ Jeff Moore
                                    -------------------------------------
                                Title: Vice President

                                ARES LEVERAGED INVESTMENT
                                FUND II, L.P.
                                By: ARES Management II, L.P.
                                Its: General Partner

                                By: /s/ Jeff Moore
                                    -------------------------------------
                                Title: Vice President

                                ATHENA CDO, LIMITED (Acct 1277)
                                By: Pacific Investment Management Company
                                LLC, as its Investment Advisor

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                AVALON CAPITAL LTD.
                                By: INVESCO Senior Secured Management, Inc.
                                as Portfolio Advisor

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                AVALON CAPITAL LTD. 2
                                By: INVESCO Senior Secured Management, Inc.
                                as Portfolio Advisor

                                By:
                                    -------------------------------------
                                Name:
                                Title:

<PAGE>

                                THE BANK OF TOKYO-MITSUBISHI TRUST COMPANY

                                By: /s/ S. Akita
                                    -------------------------------------
                                Title: Vice President

                                BANKERS TRUST COMPANY

                                By: /s/ Gregory Shefrin
                                    -------------------------------------
                                Title: Director

                                CANADIAN IMPERIAL BANK OF COMMERCE

                                By: /s/ Tefta Ghilaga
                                    -------------------------------------
                                Title: Executive Director

                                CAPTIVA II FINANCE LTD.

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                CAPTIVA III FINANCE LTD. (Acct 275)
                                as advised by Pacific Investment
                                Management Company LLC

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                CAPTIVA IV FINANCE LTD. (Acct 1275)
                                as advised by Pacific Investment Management
                                Company LLC

                                By:
                                    -------------------------------------
                                Name:
                                Title:

<PAGE>

                                CARAVELLE INVESTMENT FUND, L.L.C.;
                                by Trimaran Advisors, L.L.C.

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                CARLYLE HIGH YIELD PARTNERS, L.P.

                                By: /s/ Linda M. Pace
                                    -------------------------------------
                                Title: Vice President

                                CARLYLE HIGH YIELD PARTNERS II, LTD.

                                By: /s/ Linda M. Pace
                                    -------------------------------------
                                Title: Vice President

                                CENTURION CDO II LTD.
                                By: American Express Asset Management Group
                                Inc., as Collateral Manager

                                By: /s/ Michael M. Leyland
                                    -------------------------------------
                                Title: Managing Director

                                CENTURION CDO III, LIMITED

                                By: /s/ Michael M. Leyland
                                    -------------------------------------
                                Title: Managing Director

                                CERES II FINANCE LTD.
                                By: INVESCO Senior Secured Management, Inc.
                                as Sub-Managing Agent (Financial)

                                By:
                                    -------------------------------------
                                Name:
                                Title:

<PAGE>

                                CHARTER VIEW PORTFOLIO
                                By: INVESCO Senior Secured Management, Inc.
                                as Investment Advisor

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                COLUMBUS LOAN FUNDING, LTD.
                                By: Travelers Asset Management
                                International Company, LLC

                                By: /s/ Pamela Westmoreland
                                    -------------------------------------
                                Title: Vice President

                                CONTINENTAL ASSURANCE COMPANY

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                CREDIT INDUSTRIEL ET COMMERCIAL

                                By: /s/ Marcus Edward
                                    -------------------------------------
                                Title: Vice President

                                By: /s/ Anthony Rock
                                    -------------------------------------
                                Title: Vice President

                                CREDIT SUISSE FIRST BOSTON

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                CSAM FUNDING I

                                By:
                                    -------------------------------------
                                Name:
                                Title:

<PAGE>

                                CYPRESSTREE INVESTMENT PARTNERS I, LTD.

                                By: /s/ Jonathan D. Sharkey
                                    -------------------------------------
                                Title: Principal

                                CYPRESSTREE INVESTMENT PARTNERS II LTD.

                                By: /s/ Jonathan D. Sharkey
                                    -------------------------------------
                                Title: Principal

                                DAI-ICHI KANGYO BANK, LIMITED

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                DELANO COMPANY (Acct 274)
                                By: Pacific Investment Management Company LLC,
                                as its Investment Advisor

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                ELC (CAYMAN) LTD., 2000-I
                                By: /s/ Mark K. Misenheimer
                                    -------------------------------------
                                Title: Senior Vice President

                                ERSTE BANK DER
                                OESTERREICHISCHEN SPARKASSEN AG

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                FIDELITY ADVISOR SERIES II:
                                FIDELITY ADVISOR FLOATING RATE HIGH INCOME

                                By:
                                    -------------------------------------
                                Name:
                                Title:

<PAGE>

                                FIRST ALLMERICA FINANCIAL LIFE INSURANCE COMPANY

                                By: /s/ Jonathan D. Sharkey
                                    -------------------------------------
                                Title: Principal

                                FIRST SUNAMERICA LIFE INSURANCE COMPANY

                                By: /s/ Steven Oh
                                    -------------------------------------
                                Title: Authorized Agent

                                FIRST UNION NATIONAL BANK

                                By: /s/ Joe Mynatt
                                    -------------------------------------
                                Title: Vice President

                                FIRSTAR BANK, NATIONAL ASSOCIATION

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                FLEET NATIONAL BANK

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                GALAXY CLO 1999-1, LTD.
                                By: SAI Investment Advisor, Inc.,
                                its Collateral Manager

                                By: /s/ Thomas G. Brandt
                                    -------------------------------------
                                Title: Authorized Agent

                                GENERAL MOTORS EMPLOYEES
                                GLOBAL GROUP PENSION TRUST,
                                by State Street Bank and
                                Trust Company as Trustee

                                By:
                                    -------------------------------------
                                Name:
                                Title:

<PAGE>

                                GENERAL MOTORS WELFARE BENEFITS TRUST,
                                by State Street Bank and Trust Company
                                as Trustee

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                GOLDMAN SACHS CREDIT PARTNERS L.P.

                                By: /s/ Tracy McCaffrey
                                    -------------------------------------
                                Title: Authorized Signatory

                                HARCH CLO I LIMITED

                                By: /s/ Michael E. Lewitt
                                    -------------------------------------
                                Title: Authorized Signatory

                                HELLER FINANCIAL INC.

                                By: /s/ Robert M. Reeg
                                    -------------------------------------
                                Title: Assistant Vice President

                                INDOSUEZ CAPITAL FUNDING IV, L.P.
                                By: Indosuez Capital as Portfolio Advisor

                                By: /s/ Melissa Marano
                                    -------------------------------------
                                Title: Vice President

                                INDOSUEZ CAPITAL FUNDING VI, LIMITED
                                By: Indosuez Capital as Collateral Manager

                                By: /s/ Melissa Marano
                                    -------------------------------------
                                Title: Vice President

                                INNER HARBOR CBO 2001-1 LTD,
                                by T.Rowe Price Associates, Inc., in its
                                capacity as Collateral Manager

                                By: /s/ Kim Z. Golden
                                    -------------------------------------
                                Title: Vice President

<PAGE>

                                INVESCO CBO 2000-1 LTD.
                                By: INVESCO Senior Secured
                                Management, Inc. as Portfolio Advisor

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                JISSEKIKUN FUNDING, LTD. (Acct 1288)
                                By: Pacific Investment Management
                                Company, LLC as its Investment Advisor

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                KEMPER FLOATING RATE FUND

                                By: /s/ Kenneth Weber
                                    -------------------------------------
                                Title: Senior Vice President

                                KZH CNC LLC

                                By: /s/ Susan Lee
                                    -------------------------------------
                                Title: Authorized Agent

                                KZH CRESCENT LLC

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                KZH CRESCENT-2 LLC

                                By:
                                    -------------------------------------
                                Name:
                                Title:

<PAGE>

                                KZH CRESCENT-3 LLC

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                KZH CYPRESSTREE-1 LLC

                                By: /s/ Susan Lee
                                    -------------------------------------
                                Title: Authorized Agent

                                KZH ING-1 LLC

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                KZH ING-2 LLC

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                KZH LANGDALE LLC

                                By: /s/ Susan Lee
                                    -------------------------------------
                                Title: Authorized Agent

                                KZH PONDVIEW LLC

                                By: /s/ Susan Lee
                                    -------------------------------------
                                Title: Authorized Agent

                                KZH SOLEIL LLC

                                By: /s/ Susan Lee
                                    -------------------------------------
                                Title: Authorized Agent

<PAGE>

                                KZH SOLEIL-2 LLC

                                By: /s/ Susan Lee
                                    -------------------------------------
                                Title: Authorized Agent

                                KZH STERLING LLC

                                By: /s/ Susan Lee
                                    -------------------------------------
                                Title: Authorized Agent

                                KZH WATERSIDE LLC

                                By: /s/ Susan Lee
                                    -------------------------------------
                                Title: Authorized Agent

                                LIBERTY- STEIN ROE ADVISOR
                                FLOATING RATE ADVANTAGE FUND,
                                by Stein Roe & Farnham Incorporated as Advisor

                                By: /s/ Kathleen A. Zarn
                                    -------------------------------------
                                Title: Vice President

                                LONGHORN CDO (CAYMAN) LTD.
                                By: Merrill Lynch Investment Managers, L.P. as
                                    Investment Advisor

                                By: /s/ Joseph Matteo
                                    -------------------------------------
                                Title: Authorized Signatory

                                MADISON AVENUE CDO I, LIMITED,
                                by METROPOLITAN LIFE INSURANCE COMPANY as
                                Collateral Manager

                                By: /s/ Claudia Cromie
                                    -------------------------------------
                                Title: Director

                                MELLON BANK, N.A.

                                By:
                                    -------------------------------------
                                Name:
                                Title:

<PAGE>

                                MERRILL LYNCH GLOBAL
                                INVESTMENT SERIES BANK LOAN INCOME PORTFOLIO
                                By: Merrill Lynch Investment Managers, L.P.
                                    as Investment Advisor

                                By: /s/ Joseph Matteo
                                    -------------------------------------
                                Title: Authorized Signatory

                                MERRILL LYNCH MASTER SENIOR FLOATING RATE TRUST

                                By: /s/ Joseph Matteo
                                    -------------------------------------
                                Title: Authorized Signatory

                                MERRILL LYNCH SENIOR FLOATING RATE FUND, INC.

                                By: /s/ Joseph Matteo
                                    -------------------------------------
                                Title: Authorized Signatory

                                METROPOLITAN LIFE INSURANCE COMPANY

                                By: /s/ Claudia Cromie
                                    -------------------------------------
                                Title: Director

                                METROPOLITAN PROPERTY AND CASUALTY INSURANCE

                                By: /s/ Claudia Cromie
                                    -------------------------------------
                                Title: Authorized Signatory

                                MUIFIELD TRADING LLC

                                By:
                                    -------------------------------------
                                Name:
                                Title:

<PAGE>

                                MUZINICH CASHFLOW CBO, LTD.

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                NATEXIS BANQUES POPULAIRES

                                By: /s/ Evan S. Kraus
                                    -------------------------------------
                                Title: Vice President

                                By: /s/ Cynthia E. Sachs
                                    -------------------------------------
                                Title: Vice President, Group Manager

                                NEMEAN CLO, LTD.
                                By: ING Capital Advisors LLC,
                                as Investment Manager

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                NORSE CBO, LTD.
                                By: Regiment Capital Management, LLC
                                    as its Investment Advisor
                                By: Regiment Capital Advisors, LLC its
                                Manager and pursuant to delegated authority

                                By: /s/ Timothy S. Peterson
                                    -------------------------------------
                                Title: President

                                NORTH AMERICAN SENIOR FLOATING RATE FUND INC
                                By: Stanfield Capital Partners LLC as Subadvisor

                                By: /s/ Gregory L. Smith
                                    -------------------------------------
                                Title: Partner

                                OLYMPIC FUNDING TRUST, SERIES 1999-1

                                By:
                                    -------------------------------------
                                Name:
                                Title:

<PAGE>

                                PINEHURST TRADING, INC.

                                By: /s/ Ann E. Morris
                                    -------------------------------------
                                Title: Assistant Vice President

                                REGIMENT CAPITAL, LTD.
                                By: Regiment Capital Management, LLC as
                                    its Investment Advisor
                                By: Regiment Capital Advisors, LLC its
                                    Manager and pursuant to delegated authority

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                RIVIERA FUNDING LLC

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                SAWGRASS TRADING LLC

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                SCM COMMUNICATIONS CBO I LTD.

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                SENIOR DEBT PORTFOLIO
                                By: Boston Management and Research as
                                    Investment Advisor

                                By:
                                    -------------------------------------
                                Name:
                                Title:

<PAGE>

                                SEQUILS I, LTD.
                                By: TCW Advisors, Inc. as its Collateral Manager

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                SEQUILS IV, LTD.
                                By: TCW Advisors, Inc. as its Collateral Manager

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                SEQUILS-CUMBERLAND I, LTD.
                                By: Deerfield Capital Management, L.L.C.,
                                as its Collateral Manager

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                SEQUILS-ING I (HBDGM), LTD.
                                By: ING Capital Advisors LLC, as
                                Collateral Manager

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                SRF 2000 LLC

                                By: /s/ Ann E. Morris
                                    -------------------------------------
                                Title: Assistant Vice President

                                STANFIELD CLO, LTD.
                                By: Stanfield Capital Partners LLC as its
                                    Collateral Manager

                                By: /s/ Gregory L. Smith
                                    -------------------------------------
                                Title: Partner

<PAGE>

                                STANFIELD/RMF TRANSATLANTIC CDO LTD.

                                By: Stanfield Capital Partners LLC as its
                                    Collateral Manager

                                By: /s/ Gregory L. Smith
                                    -------------------------------------
                                Title: Partner

                                STEIN ROE & FARNHAM CLO I LTD.,
                                by Stein Roe & Farnham Incorporated as
                                Portfolio Manager

                                By: /s/ Kathleen A. Zarn
                                    -------------------------------------
                                Title: Vice President

                                STEIN ROE FLOATING RATE LIMITED LIABILITY
                                COMPANY

                                By: /s/ Kathleen A. Zarn
                                    -------------------------------------
                                Title: Vice President

                                SUNAMERICA LIFE INSURANCE COMPANY

                                By: /s/ Steven Oh
                                    -------------------------------------
                                Title: Authorized Agent

                                SUNTRUST BANK

                                By: /s/ Karen Copeland
                                    -------------------------------------
                                Title: Vice President

                                TCW SELECT  LOAN  FUND,  LIMITED
                                By: TCW  Advisors,  Inc.  as its  Collateral
                                Manager

                                By:
                                    -------------------------------------
                                Name:
                                Title:

<PAGE>

                                TORONTO DOMINION (NEW YORK), INC.

                                By: /s/ Stacey Malek
                                    -------------------------------------
                                Title: Vice President

                                TRAVELERS CORPORATE LOAN FUND

                                By: /s/ Pamela Westmoreland
                                    -------------------------------------
                                Title: Vice President

                                TRYON CLO LTD. 2000-1

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                UNITED OF OMAHA LIFE INSURANCE COMPANY
                                By: TCW Asset Management Company,
                                    its Investment Advisor

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                US BANK NATIONAL ASSOCIATION

                                By:
                                    -------------------------------------
                                Name:
                                Title:

                                WINDSOR LOAN FUNDING, LIMITED
                                By: Stanfield Capital Partners LLC as its
                                    Investment Manager

                                By: /s/ Gregory L. Smith
                                    -------------------------------------
                                Title: Partner

                                WINGED FOOT FUNDING TRUST

                                By: /s/ Ann E. Morris
                                    -------------------------------------
                                Title: Authorized Agent

<PAGE>

Each of the undersigned Guarantors hereby consents to the foregoing Amendment
No. 3:

YOUNG BROADCASTING OF LANSING, INC.
YOUNG BROADCASTING OF LOUISIANA, INC.
YOUNG BROADCASTING OF LA CROSSE, INC.
YOUNG BROADCASTING OF NASHVILLE, INC.
YOUNG BROADCASTING OF ALBANY, INC.
WINNEBAGO TELEVISION CORPORATION KLFY, L.P.
  By: Young Broadcasting of Louisiana, Inc., its General Partner WKRN, G.P.
  By: Young Broadcasting of Nashville, Inc., its General Partner
LAT, INC.
YBT, INC.
YOUNG  BROADCASTING OF RICHMOND, INC.
YOUNG  BROADCASTING OF GREEN BAY, INC.
YOUNG BROADCASTING OF KNOXVILLE, INC.
WATE, G.P.
  By: Young Broadcasting of Knoxville, Inc., its General Partner
YBK, INC.
YOUNG BROADCASTING OF DAVENPORT, INC.
YOUNG BROADCASTING OF SIOUX FALLS, INC.
YOUNG BROADCASTING OF RAPID CITY, INC.
YOUNG BROADCASTING OF LOS ANGELES, INC.
FIDELITY TELEVISION, INC.
YOUNG BROADCASTING OF SAN FRANCISCO, INC.
YOUNG HOLDING COMPANY, INC.
YBSF INC.
ADAM YOUNG INC.
HONEY BUCKET FILMS, INC.

         By:    /s/ James A. Morgan
                --------------------------------------
         Title: Executive Vice President and Chief Financial Officer

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