Document:

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                                                                     Exhibit 4.4

           THIRD AMENDMENT TO ASSET BASED LOAN AND SECURITY AGREEMENT
           ----------------------------------------------------------

         THIS AMENDMENT TO ASSET BASED LOAN AND SECURITY AGREEMENT, dated as of
June ____, 2001 (this "Amendment") is entered into by and between MAZEL STORES,
INC. ("Stores") an Ohio corporation, ODD-JOB ACQUISITION CORP. ("Odd-Job"), a
Delaware corporation, and HIA TRADING ASSOCIATES, a New York General
Partnership, jointly and severally (collectively, "Borrower"), whose mailing
addresses are 31000 Aurora Road, Solon, Ohio 44139, and THE PROVIDENT BANK
("Agent"), an Ohio banking corporation, whose mailing address is 1111 Superior
Avenue, Cleveland, Ohio 44114-2522, LASALLE BANK NATIONAL ASSOCIATION
("LaSalle"), a national banking association whose mailing address is 135 South
LaSalle Street, Chicago, Illinois 60603, and NATIONAL CITY BANK ("NCB," and
together with Agent and LaSalle, collectively "Lenders"), a national banking
association whose mailing address is National City Center, P.O. Box 5756, Loc.
2104, Cleveland, Ohio 44101-0756.

                              W I T N E S S E T H:
                              -------------------

         WHEREAS, Borrower and Lenders are parties to that certain Asset Based
Loan and Security Agreement dated as of March 10, 1998, as amended by that
certain First Amendment to Asset Based Loan and Security Agreement dated as of
July 31, 1999 and that certain Second Amendment to Asset Based Loan and Security
Agreement dated as of May 15, 2000 (collectively, the "Original Agreement");

         WHEREAS, Borrower and Lenders have agreed to amend the Original
Agreement in order to modify certain terms and conditions contained in the
Original Agreement as more specifically described herein and subject to the
terms and conditions set forth in this Amendment.

         NOW, THEREFORE, in consideration of the foregoing and the mutual
covenants and agreements contained herein, and for other good and valuable
consideration, Borrower and Lenders agree as follows:

SECTION 1. AMENDMENT TO ANNEXES AND EXHIBITS.

         ANNEX 1-A to the Original Agreement sets forth each Lender's Revolving
Credit Commitment and Term Loan Commitment. ANNEX 1-A to the Original Agreement
is hereby amended by deleting such Annex in its entirety and substituting ANNEX
1-B in the form attached hereto and incorporated herein by reference.

SECTION 2. AMENDMENT TO DEFINITIONS.

         (a) The definition of "Borrowing Base" appearing in Section 1.8 of the
Agreement shall be deleted in its entirety and the following shall be inserted
in lieu thereof:

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                           "1.8 BORROWING BASE shall mean the sum of (A) the
                           lesser of (x) sixty percent (60%) of the cost or
                           market value, whichever is lower, or (y) eighty-five
                           percent (85%) of the net recovery value as determined
                           by the most recent quarterly appraisal of Eligible
                           Inventory (as adjusted weekly for purchases and sales
                           and including Retail Inventory), PLUS (B) eighty-five
                           percent (85%) of the outstanding amount of Eligible
                           Accounts, PLUS (C) the amount of collected funds in
                           the Cash Collateral Account, MINUS (D) Reserves (as
                           defined in and calculated in accordance with Section
                           1.53 hereof)."

         (b) The definition of "Debt Service Ratio" appearing in Section 1.13 of
the Agreement shall be deleted in its entirety and the following shall be
inserted in lieu thereof:

                           "1.13 DEBT SERVICE RATIO shall mean the ratio of (a)
                           the sum of (i) EBITDA MINUS (ii) cash taxes paid
                           MINUS (iii) capital expenditures to (b) the sum of
                           (i) Borrower's interest expense PLUS (ii) Borrower's
                           scheduled principal payments MINUS (iii) amortization
                           of costs and fees payable by Borrower in connection
                           with the transaction contemplated by this Agreement."

         (c) The definition of "Default Rate" appearing in Section 1.14 of the
Agreement shall be deleted in its entirety and the following shall be inserted
in lieu thereof:

                           "1.14 DEFAULT RATE shall mean the rate of interest
                           which is three percent (3%) above the then applicable
                           rate under the Notes, or if there is no then
                           applicable rate, the default rate of interest shall
                           be a matter of interest equal to the Prime Rate plus
                           three percent (3%)."

         (d) The definition of "Eligible Inventory" appearing in Section 1.18 of
the Agreement, subsection (k) of the Agreement shall be deleted in its entirety
and the following inserted in lieu thereof:

                           "(k) Which is fully prepaid, in transit Inventory not
                           yet received by Borrower UNLESS: (i) the period
                           during which such Inventory is in transit does not
                           exceed ninety (90) days; and (ii) (x) title to such
                           Inventory has passed to Borrower, and so long as such
                           Inventory is adequately insured to the reasonable
                           satisfaction of Agent and Agent is loss payee on such
                           insurance, with an aggregate value not in excess of
                           $5,000,000.00 at any one time (when taken together
                           with the Inventory described in subsection (y)
                           hereof), or (y) such Inventory is prepaid, in transit
                           but not yet received and Borrower has delivered a
                           letter of credit to Agent in respect of such
                           Inventory in form and

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                           substance reasonably satisfactory to Agent and
                           Borrower has insured such Inventory in accordance
                           with subsection (x) above, with an aggregate value
                           for such Inventory not in excess of $5,000,000.00 at
                           any one time (when taken together with the Inventory
                           described in subsection (x) hereof)."

         (e) The definitions of "LIBOR Rate," "LIBOR Rate Loan," "Interest
Determination Date" and "Interest Period," each pertaining to the LIBOR pricing
option and appearing in Sections 1.25, 1.26, 1.35, 1.36 and 1.37 of the
Agreement, shall be eliminated in their entirety and the following language
shall be inserted in lieu thereof: "[Intentionally Omitted]," in each such
Section, respectively.

         (f) The following shall be added to the end of the definition of
"Obligations" appearing in Section 1.43 of the Agreement:

                           "Without in any way limiting the generality of the
                           foregoing, "Obligations" shall include any and all
                           obligations of Borrower and/or Guarantor, or any one
                           or more of them, to Lenders, or any one or more of
                           them, pursuant to any credit card relationship,
                           Borrower, Guarantor and each of Lenders specifically
                           agreeing that in no event will it permit the
                           aggregate amount of such credit card obligations to
                           any Lender to exceed Two Hundred Seventy-Five
                           Thousand and 00/100 Dollars ($275,000.00)."

         (g) The definition of "Reserve" appearing in Section 1.53 of the
Agreement shall be deleted in its entirety and the following shall be inserted
in lieu thereof:

                           "1.53 RESERVE shall mean that portion of the
                           Borrowing Base which is designated in the sole
                           discretion of Agent as a reserve for inventory
                           located on real property leased by Borrower and for
                           which a landlord waiver and consent agreement has not
                           been executed pursuant to Section 5.19 herein. As of
                           this date hereof until further written notice to
                           Borrower from Agent, the Reserve amount shall mean an
                           amount equal to the aggregate total of the base
                           rental payments due for each of the foregoing
                           locations for a period of two (2) months; provided,
                           however, that upon Borrower's request, Agent may
                           adjust the amount of the Reserve in the exercise of
                           its commercially reasonable discretion based upon
                           legal opinions issued in favor of Agent in respect of
                           a landlord's legal rights pertaining to any of
                           Borrower's Inventory located in a leased facility for
                           which no landlord waiver and consent agreement has
                           been executed."

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         (h) The definition of "Retail Inventory" appearing in Section 1.54 of
the Agreement shall be deleted in its entirety and the following shall be
inserted in lieu thereof:

                           "1.54 RETAIL INVENTORY shall mean that portion of
                           Eligible Inventory which is located at any retail
                           location operated by Borrower. In addition to the
                           exclusions set forth in Section 1.18 hereof, the
                           aggregate value of Retail Inventory shall, for
                           purposes of determining the amount which can be
                           borrowed under the Revolving Loan, be reduced by (a)
                           any intercompany mark-up or profit margin, and (b) a
                           factor of two and one-half percent (2 1/2%) to
                           reserve for shrinkage and damaged or obsolete Retail
                           Inventory."

SECTION 3. AMENDMENT TO THE REVOLVING CREDIT FACILITY.

         (a) Section 2.1(c) of the Agreement shall be deleted in its entirety
and the following shall be inserted in lieu thereof:

                           "(c)    Advances under the Revolving Loan Note shall
                                   be made pursuant to Borrower's written or
                                   telephonic request therefor, given by
                                   Borrower to Agent on the same Business Day of
                                   a proposed Revolving Credit Borrowing,
                                   stating the date of the requested borrowing,
                                   the amount of the requested Advance and the
                                   total amount to be borrowed. For all purposes
                                   relating to Advances hereunder, Stores shall
                                   be the agent of Borrower, and Agent shall not
                                   be obligated to accept direction from any
                                   other Borrower with respect to any Advance
                                   until Agent shall have received written
                                   notice to that effect. No written request for
                                   an Advance shall become effective until
                                   actually received by Agent. The Agent shall
                                   give each Lender reasonably prompt notice by
                                   telecopier or verbal notice not later than
                                   12:00 noon (Cleveland, Ohio time) on the
                                   Business Day immediately preceding the
                                   requested date of the proposed Advance."

         (b) Section 2.1(d) of the Agreement shall be deleted in its entirety
and the following shall be inserted in lieu thereof:

                           "(d)    Borrower undertakes and agrees to pay to
                                   Agent, for the benefit of Lenders, on the
                                   first day of each calendar month interest on
                                   the amount outstanding under such Lender's
                                   Revolving Loan Note, at an annual rate based

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                                   upon a year of three hundred sixty-five
                                   (365) days, with respect to each Advance to
                                   be determined as follows:

                                   (i)   From the date hereof through and
                                         including July 31, 2001, a rate per
                                         annum based on the Prime Rate plus one
                                         percent (1%), and at all times
                                         thereafter at a rate per annum based
                                         upon the Prime Rate plus three percent
                                         (3%).

                                   (ii)  The rate of interest on any Advance
                                         will automatically and immediately
                                         increase or decrease on the day of, and
                                         by an amount equal to, each increase or
                                         decrease in the Prime Rate with no
                                         notice to Borrower.

                                   (iii) Notwithstanding any provision in this
                                         Amendment to the contrary, if an Event
                                         of Default shall have occurred, the
                                         unpaid principal and, to the extent
                                         permitted by law, accrued interest
                                         under the Revolving Loan Note shall
                                         bear interest at the Default Rate until
                                         the Event of Default shall have been
                                         cured with the consent of Agent. Prior
                                         to maturity, if any payment of
                                         principal or interest is ten (10) or
                                         more days past due, Borrower shall pay
                                         a late fee of an amount equal to the
                                         lesser of five percent (5%) of such
                                         payment or Two Hundred Fifty Dollars
                                         ($250.00)."

SECTION 4. AMENDMENT TO THE LETTER OF CREDIT FACILITY.

         (a)      The number "Twenty Five Million Dollars ($25,000,000)"
                  appearing in Section 2.2(a)(x) of the Agreement shall be
                  deleted and the number "Twenty Million Dollars ($20,000,000)"
                  shall be inserted in lieu thereof.

         (b)      The last sentence appearing in Section 2.2(b) of the Agreement
                  shall be deleted in its entirety and the following shall be
                  inserted in lieu thereof:

                           "Notwithstanding anything to the contrary set forth
                           in this Amendment, in no event shall the maturity
                           date of any Letter of Credit issued by the Letter of
                           Credit Lender extend beyond December 31, 2001."

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SECTION 5. AMENDMENT TO THE TERM LOAN.

         Section 2.3(d)(i) through (iv) shall be deleted in its entirety and the
following shall be inserted in lieu thereof:

                           "(d) Borrower undertakes and agrees to pay to Agent
                           on the first day of each calendar month interest on
                           the principal amount outstanding under the Term Loan
                           Note at an annual interest rate of twenty-five
                           percent (25%) based upon a year of three hundred
                           sixty-five (365) days. Notwithstanding any provision
                           in this Amendment to the contrary, if an Event of
                           Default shall have occurred, the unpaid principal
                           and, to the extent permitted by law, accrued interest
                           under the Term Loan Note shall bear interest at the
                           Default Rate until the Event of Default shall have
                           been cured with the consent of Agent. Prior to
                           maturity, if any payment of principal or interest is
                           ten (10) or more days past due, Borrower shall pay a
                           late fee of an amount equal to the lesser of five
                           percent (5%) of such payment or Two Hundred Fifty
                           Dollars ($250.00)."

SECTION 6. AMENDMENTS TO APPLICATION OF PAYMENTS.

         Section 2.6(a) of the Agreement shall be deleted in its entirety and
the following shall be inserted in lieu thereof:

                           "(a) APPLICATION OF PAYMENTS. The funds so
                           distributed to each Lender shall in each case be
                           applied by such Lender in accordance with the terms
                           of this Agreement. Prior to the occurrence and
                           continuation of an Event of Default, all funds
                           received hereunder shall be applied: (i) first, to
                           the payment of any accrued and unpaid interest and
                           fees, in that order on an invoice by invoice basis in
                           the order of their respective due dates, until paid
                           in full, (ii) second, to late charges until paid in
                           full, (iii) third, to Related Expenses until paid in
                           full, (iv) fourth, to the outstanding principal
                           amount of any Revolving Credit Advances in such order
                           as the Agent may choose in its sole discretion, (v)
                           fifth, to the extent there are not outstanding
                           Revolving Credit Advances, to the principal amount of
                           any Advance comprising any Term Borrowing which is
                           due on the next Repayment Date, (vi) sixth, to the
                           extent there are not outstanding Revolving Credit
                           Advances, to the outstanding principal amount of any
                           Advance comprising any Term Borrowing in the inverse
                           order of maturity or in such order as the Agent may
                           choose in its reasonable discretion and (vii) to any
                           other Obligations of Borrower hereunder. Upon the
                           occurrence and during the continuation of an

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                           Event of Default, each Lender shall apply any amounts
                           received by it in such manner and order as the Agent,
                           in its sole discretion, elects."

SECTION 7. AMENDMENT TO COLLATERAL REPORTING.

         Section 5.4(d) of the Agreement shall be renumbered 5.4(e) and the
following shall be inserted in the Agreement as new Section 5.4(d):

                           "(d) Daily, a Borrowing Base Certificate in the form
                           of ANNEX 2 attached hereto and incorporated herein by
                           reference; provided, however, that Inventory shall be
                           adjusted on a weekly basis."

SECTION 8. AMENDMENT TO FINANCIAL COVENANTS.

         Section 5.15 of the Agreement shall be deleted in its entirety and the
following shall be inserted in lieu thereof:

                  "5.15  FINANCIAL COVENANTS.  Maintain the following financial
         covenants:

                           (a) Tangible Net Worth as follows: At all times equal
                           to or exceeding Forty-Five Million Dollars
                           ($45,000,000.00) and increasing each calendar quarter
                           thereafter (on a cumulative basis) in the amount
                           equal to sixty-five percent (65%) of the net income,
                           after taxes, of Borrower, if positive. This covenant
                           shall be tested quarterly.

                           (b) [Intentionally deleted].

                           (c) A Debt Service Ratio at all times not less than
                           1.00 to 1.00. This covenant shall be tested on
                           February 2, 2002 and quarterly thereafter on a
                           rolling four (4) quarter basis.

                           (d) [Intentionally deleted].

                           (e) Achievement of plan as follows: (x) as of May 5,
                           2001, achieve financial performance that equals or
                           exceeds ninety-five percent (95%) of Borrower's
                           projected performance for the period ending May 5,
                           2001, as set forth in those certain monthly net
                           income projections dated May 25, 2001 for the twelve
                           (12) month period commencing February, 2001 and
                           ending February, 2002 and attached hereto as ANNEX 3
                           (as adjusted for fees and interest rate modifications
                           included in this Amendment, the "Projections"); and
                           (y) at all times

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                           after May 5, 2001, achieve and maintain financial
                           performance that equals or exceeds one hundred
                           percent (100%) of the Projections as determined at
                           the end of each fiscal quarter; it being specifically
                           agreed that for purposes of calculating such net
                           income projections and Borrower's achievement of the
                           Projections, extraordinary income events shall be
                           specifically excluded and extraordinary losses shall
                           be specifically included; provided, further, that
                           Borrower shall deliver updated Projections on or
                           before the end of each fiscal year for the following
                           fiscal year.

                           (f) Borrowing availability as follows: maintain
                           collateral availability of not less than ninety
                           percent (90%) of projected availability as set forth
                           in those certain collateral availability projections
                           attached hereto as ANNEX 4 (the "Availability
                           Projections"), such Availability Projections to be
                           tested monthly and to be updated on an annual basis
                           on or before the end of each fiscal year at all times
                           during the term of this Agreement in form and
                           substance satisfactory to Agent;

                           (g) Consummation and funding of a minimum investment
                           of $10,000,000.00 of subordinated capital into
                           Borrower upon terms and conditions acceptable to
                           Agent and Lenders (including, without limitation,
                           acceptable terms and conditions relating to
                           standstill and blockage rights) on or before
                           September 1, 2001, or consummation and funding of a
                           full refinancing of the Revolving Credit Facility
                           with another lending institution on or before
                           September 1, 2001."

SECTION 9. AMENDMENT TO MAINTENANCE OF AGENT ACCOUNTS.

         Section 5.16 of the Agreement shall be deleted in its entirety and the
following shall be inserted in lieu of thereof:

                           5.16 MAINTENANCE OF AGENT ACCOUNTS. Except as
                           otherwise agreed from time to time, concentrate all
                           of its depository accounts with Agent, including,
                           without limitation, all demand deposit, lock box,
                           time deposit, concentration and zero balance accounts
                           except, however, certain accounts necessary for the
                           operation of its retail locations need not be
                           maintained at the Agent provided blocked account
                           agreements have been delivered by such financial
                           institutions executed in favor of Agent in form and
                           substance acceptable to Agent (each a "Blocked
                           Account Agreement"). Borrower shall provide Agent
                           with a power of attorney with respect to each such
                           account. Borrower further agrees to cause each
                           Guarantor to concentrate all of

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                           its depository accounts with Agent, including without
                           limitation, all demand deposit, lock box, time
                           deposit, concentration and zero balance accounts.
                           Borrower shall also cause each Guarantor to provide
                           Agent with a power of attorney with respect to each
                           such account." Borrower further acknowledges and
                           agrees that all collections and proceeds of the sale
                           of assets (including credit card collections) shall
                           be deposited in an account with Agent or an account
                           within another financial institution provided such
                           account is subject to a Blocked Account Agreement."

SECTION 10. AMENDMENT TO CAPITAL EXPENDITURE COVENANT.

         Section 6.13 of the Agreement shall be deleted in its entirety and the
following shall be inserted in lieu thereof:

                  "6.13 CAPITAL EXPENDITURES. Borrower shall not expend funds or
                  accrue expense for any machinery, equipment, real or personal
                  property or any other type of property including leasehold
                  improvements, whether through direct purchases and capitalized
                  lease obligations, in excess of aggregate amount not to exceed
                  fifty percent (50%) of EBITDA in any fiscal year, and (ii)
                  Seven Hundred Thousand Dollars ($700,000.00) to fixture and
                  equip each new retail location. The capital expense limits
                  contained herein are subject to the continued compliance by
                  Borrower (prior to and after giving effect to the expenditure)
                  with the covenants and obligations herein. Borrower shall be
                  permitted to carry-forward as an additional capital expense
                  allowance the amount of any unexpended portion of the capital
                  expense limitation from the immediately preceding calendar
                  year which had been designated for scheduled capital
                  expenditures during such calendar year."

SECTION 11. AMENDMENT TO SERVICE CHARGES.

         Section 8 of the Agreement shall be deleted in its entirety and the
following shall be inserted in lieu thereof:

                  "SECTION 8. SERVICE CHARGES. In addition to the principal and
                  interest on the Loans and the reimbursement of expenses to
                  Agent pursuant to this Amendment, Borrower shall pay to (i)
                  Agent, for the benefit of Lenders, an annual facility fee of
                  three-eighths of one percent (3/8%) of the unused portion of
                  the Revolving Loan (determined at the end of each fiscal
                  quarter based upon the average daily balance outstanding
                  {which for this purpose shall include amounts reserved for
                  drawings under outstanding Letters of Credit} under the
                  Revolving Loan Note during the preceding quarter) payable
                  quarterly in arrears; (ii) Agent, for the benefit of the
                  Lenders, a negotiation

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                  commission of (x) two percent (2%) of the stated amount of any
                  Standby Letter of Credit issued pursuant hereto or (y) one
                  percent (1%) of the stated amount of any Commercial or
                  Documentary Letters of Credit issued pursuant hereto, payable
                  quarterly in arrears based upon the Letters of Credit
                  negotiated in the previous quarter, plus an issuance fee of
                  Sixty-Five Dollars ($65.00) for each such Letter of Credit;
                  provided further that (x) all such fees shall be payable in
                  full within ten (10) days of a billing from Agent in respect
                  thereof, and (y) a Letter of Credit Lender shall be permitted
                  to alter the Letter of Credit issuance fee stated herein at
                  such time as such Letter of Credit Lender is changing its fees
                  generally charged its customers, and shall give notice to
                  Borrower thereof, (iii) to Agent for its own account, a
                  collateral monitoring fee of $3,000.00 per month which shall
                  include the cost of quarterly audits but shall exclude out of
                  pocket expenses which shall be paid in addition to the
                  foregoing monthly fee, and (iv) the cost of quarterly net cost
                  liquidation value appraisals of Inventory by an appraiser
                  acceptable to Lenders."

SECTION 12. AMENDMENT TO EVENTS OF DEFAULT.

         The first sentence of Section 10.1 of the Agreement shall be deleted in
its entirety and the following shall be inserted in lieu thereof:

                  "The following shall constitute Events of Default under this
                  Agreement, it being agreed that time is of the essence hereof:
                  (a) failure of the Borrower to pay when due any of the
                  Obligations; (b) failure of the Borrower and/or Guarantor to
                  observe or perform any covenant contained in this Agreement or
                  in any other Loan Document; (c) discovery that any
                  representation or warranty at any time made by the Borrower
                  and/or Guarantor to the Agent in this Agreement or in any Loan
                  Document (including documents and materials delivered to the
                  Agent for the purpose of obtaining the Loans) is, untrue or
                  misleading in any material respect at the time made; (d)
                  suspension by the Borrower and/or Guarantor of the operation
                  of its present business, or the insolvency of the Borrower
                  and/or Guarantor, or the inability of the Borrower and/or
                  Guarantor to meet its debts as they mature, or its admission
                  in writing to such effect, or its calling any meeting of all
                  or any of its creditors or committing any act of bankruptcy,
                  or the filing by or against the Borrower and/or Guarantor of
                  any petition under any provision of the Bankruptcy Act, as
                  amended, or the entry of any judgment or filing of any lien
                  against the Borrower and/or Guarantor; and (e) the occurrence
                  of any material adverse change in the condition of Borrower,
                  any Guarantor or any of the Collateral."

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SECTION 13. CONDITIONS PRECEDENT.

         Borrower hereby acknowledges and agrees that the effectiveness of this
Amendment is subject to the receipt by Agent, on or prior to the date hereof, of
the following items and such other documents as Agent may reasonably request in
connection with this Amendment and the transactions contemplated hereby:

                  1.       Receipt of all necessary consents and approvals to
                           the financing evidenced hereby by all appropriate and
                           interested parties.

                  2.       Satisfactory completion of due diligence, including
                           collateral examinations, appraisals of Inventory and
                           UCC-11 lien searches.

                  3.       Delivery of a certified Borrowing Base certificate
                           satisfactory to Agent and Lenders.

                  4.       Delivery of this Amendment to Agent and Lenders and
                           each of the further agreements, documents,
                           certificates and instruments contemplated hereby.

                  5.       Delivery of a Warrant Agreement executed by Mazel
                           Stores, Inc. in favor of Agent and Lenders in the
                           form of ANNEX 5 hereto.

                  6.       Delivery of copies of all material documents and
                           agreements pertaining to or in respect of
                           transactions or events which would affect the capital
                           structure of Borrower, including, without limitation,
                           transactions or events resulting in changes in equity
                           ownership interests, conversion of debt to equity or
                           the granting and/or exercise of options or warrants
                           for the capital stock of Borrower (or any of them).

                  7.       Delivery of a Perfection Certificate executed by
                           Borrower in favor of Agent in the form of ANNEX 6
                           hereto.

                  8.       Delivery of legal opinions of counsel to Borrower and
                           Guarantors reasonably satisfactory in form and
                           substance to Agent and its counsel, including,
                           without limitation, with respect to the
                           enforceability and perfection of the security
                           interests.

                  9.       Delivery of Certificates of Good Standing, Certified
                           Articles of Incorporation, By-Laws and Authorizing
                           Resolutions for Borrower and each Guarantor in form
                           and substance acceptable to Agent and Lenders.

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                  10.      Receipt of all other information (financial or
                           otherwise) requested by Agent and Lenders in form and
                           substance reasonably satisfactory to Agent and
                           Lenders.

                  11.      Verification that all financing statements and
                           notices as may be necessary for Agent to perfect its
                           security interest in the Collateral for itself and
                           for the benefit of Lenders and Agent have been filed
                           or given in order to assure its first-priority status
                           therein.

                  12.      Verification of no material misstatements in or
                           omissions from the materials previously furnished to
                           Agent for its review. Agent must be satisfied that
                           any financial statements delivered to it fairly
                           present the business and financial condition of
                           Borrower and its subsidiaries and each Guarantor, and
                           that there has been no material adverse change in the
                           assets, business, financial condition, income or
                           prospects of Borrower, its subsidiaries or any
                           Guarantor since the date of the most recent financial
                           information delivered to Agent.

                  13.      The absence of any litigation or other proceeding the
                           result of which might have a material adverse effect
                           on Borrower or any of its subsidiaries or any
                           Guarantor.

                  14.      The absence of any default of any material contract
                           or agreement of Borrower or any of its subsidiaries
                           or any Guarantor.

                  15.      The absence of any material adverse change in the
                           condition (financial or otherwise), operations,
                           assets, income and/or prospects of Borrower or any of
                           its subsidiaries or any Guarantor.

                  16.      The absence of any material changes in governmental
                           regulations or policies affecting Borrower, any of
                           its subsidiaries, any Guarantor or Agent or Lenders.

SECTION 14. FEES, EXPENSES AND WARRANTS.

         In consideration of the modifications set forth herein, Borrower shall
pay to Lenders at closing a Closing Fee in the amount of one-half of one percent
(0.50%) of the aggregate amount of the Commitments of Lenders identified on
ANNEX 1-B attached hereto. In addition, Borrower shall pay to Lenders on July 1,
2001 a fee of one-half of one percent (0.50%) of the aggregate amount of the
Commitments of Lenders set forth in ANNEX 1-B if Borrower has failed to obtain a
firm commitment to (A) refinance the Revolving Credit Facility on or before
August 1, 2001, or (B) fund an investment of subordinated capital in Borrower in
an amount not less than $10,000,000 upon

                                      -12-
<PAGE>   13

terms and conditions satisfactory to Agent and Lenders. Effective July 1, 2001,
Borrower shall also issue warrants to Lenders at a nominal rate of ($0.01) per
warrant share equal to ten percent (10%) of the issued and outstanding shares of
Mazel Stores, Inc. (the "Warrants") which shall be exercisable by Lenders or
their assigns only if neither of the events described in Subsections (A) and (B)
above have occurred prior to or on September 1, 2001. The Warrants shall have a
ten (10) year maturity. Notwithstanding the foregoing, the Warrants may be
reduced by ten percent (10%) of the Warrant Shares (as defined in the Warrant
Agreement (as defined below)) for each $1,000,000 of subordinated capital raised
by Borrower on terms and conditions reasonably satisfactory to Agent and Lenders
(including without limitation satisfactory terms and conditions relating to
standstill and blockage rights) prior to September 1, 2001 if such amount is
equal to or less than $10,000,000. The specific terms and conditions pertaining
to the Warrants shall be evidenced by a Warrant Agreement to be executed by
Borrower at closing, with an effective date of July 1, 2001, in the form
attached hereto as ANNEX 5 (THE "WARRANT AGREEMENT"). In addition to the
foregoing, Borrower shall also pay all out-of-pocket fees and expenses incurred
by Agent and Lenders in connection with the preparation, negotiation, execution
and delivery of this Amendment and the agreements, documents and instruments
executed in connection therewith, including, without limitation, legal fees and
other costs and expenses of Agent and Lenders.

SECTION 15. REFERENCES.

         On and after the Effective Date of this Amendment each reference in the
Original Agreement to "this Agreement", "hereunder", "hereof", "thereof" and
each reference to the Original Agreement in any of the other Loan Documents
shall mean and refer to the Original Agreement, as amended by this Amendment.
All references to exhibits, schedules or annexes in the Original Agreement shall
be deemed to refer to the exhibits, schedules or annexes attached hereto. The
Original Agreement, as amended by this Amendment, is and shall continue to be in
full force and effect and is hereby and in all respects ratified and confirmed.
Except as amended by this Amendment, all of the terms, conditions and provisions
of the Original Agreement are incorporated herein by reference and Borrower
agrees to be bound by all of the terms and conditions of the Original Agreement
as amended by this Amendment. The Loan Documents executed in connection with the
Original Agreement shall remain in full force and effect in all respects as if
the unpaid balance of the principal outstanding, together with interest accrued
thereon, had originally been payable and secured as provided for therein, as
amended from time to time and as modified by this Amendment. Nothing herein
shall affect or impair any rights and powers which Lenders may have under the
Original Agreement and any and all related Loan Documents. All capitalized terms
not otherwise defined herein shall have the meanings set forth with respect
thereto in the Original Agreement.

SECTION 16. APPLICABLE LAW.

         This Amendment shall be deemed to be a contract under the laws of the
State of Ohio, and for all purposes shall be construed in accordance with the
laws of the State of Ohio.

                                      -13-
<PAGE>   14

SECTION 17. COUNTERPARTS; CONFLICTS.

         This Amendment may be executed in any number of counterparts, all of
which taken together shall constitute one and the same instrument, and any one
of the parties hereby may execute this Amendment by signing any such
counterpart. In the event of any ambiguity of conflict between the terms,
conditions, or provisions of the Original Agreement and this Amendment, the
terms, conditions and provisions of this Amendment will control.

SECTION 18. EFFECTIVE DATE.

         This Amendment shall be effective as of June _______, 2001 ("Effective
Date").

SECTION 19. ADDITIONAL PROVISIONS.

         A. CONFIRMATION OF LOAN DOCUMENTS, SECURITY INTERESTS AND LIENS. Except
as expressly modified and amended by the terms of this Amendment, all of the
other terms and conditions of the Original Agreement and all other agreements,
documents and instruments executed in connection therewith or herewith
(collectively, the "Loan Documents") remain in full force and effect and are
hereby ratified, confirmed and approved. Borrower (i) reaffirms, ratifies, and
confirms that the security interests, and liens granted to Agent and Lenders in
the Collateral securing the Obligations (each of the foregoing capitalized terms
as defined in the Original Agreement) remain first and valid liens therein, (b)
acknowledges and agrees that any and all collateral security heretofore,
simultaneously herewith or hereafter granted to Agent and/or Lenders by Borrower
shall secure all of Borrower's present and future indebtedness (including the
Obligations) to Agent and Lenders, and (c) further represents and warrants that
as of the date hereof, there are no claims, set-offs or defenses to Agent and/or
Lenders' exercise of any rights or remedies available to Agent and each Lender
as a creditor in realizing upon the Collateral under the terms and conditions of
this Amendment, the Loan Documents and applicable law. Borrower has not assigned
any claim, set-off or defense to any person, individual, or entity. If there is
an express conflict between the terms of this Amendment and the terms of the
Loan Documents, the terms of this Amendment shall control.

         B. RELATED EXPENSES. In addition to the fees and expenses required
under Section 8 of the Original Agreement, as amended hereby, Borrower also
agrees that Borrower's obligations and liabilities to Agent and Lenders shall
include all Related Expenses. For the purposes of this Amendment, "Related
Expenses" means any and all costs, liabilities, and expenses (including without
limitation, losses, damages, penalties, claims, actions, attorney's fees, legal
expenses, judgments, suits, and disbursements) incurred by, imposed upon, or
asserted against, Agent or Lenders in connection with the Obligations, the Loan
Documents or in any attempt by Agent or Lenders (subject to any limitations set
forth herein):

            (a)  to obtain, preserve, perfect, or enforce any security interest
                 evidenced by (i) this Amendment and the Loan Documents, or (ii)
                 any other pledge agreement, mortgage deed, hypothecation
                 agreement,

                                      -14-
<PAGE>   15

                 guaranty, security agreement, assignment, or security
                 instrument executed or given by Borrower or any Guarantor to or
                 in favor of Agent and/or Lenders;

            (b)  to obtain payment, performance, and observance of any and all
                 of Borrower's obligations and liabilities to Agent and Lenders,
                 including, without limitation, the Obligations;

            (c)  to maintain, insure, audit, collect, preserve, repossess, and
                 dispose of any of the Collateral, including, without
                 limitation, costs and expenses for appraisals, assessments, and
                 audits of Borrower or the Collateral;

            (d)  incidental or related to (a) through (c) above, including,
                 without limitation, interest thereupon from the date incurred,
                 imposed, or asserted until paid at the rate payable as set
                 forth in the Revolving Credit Note, but in no event greater
                 than the highest rate permitted by law.

         C. SALE OF THE COLLATERAL. Upon and after the occurrence of an Event of
Default, Agent shall be permitted to sell, lease or otherwise dispose of the
Collateral in accordance with the terms of the Loan Documents and applicable
law. Borrower and Guarantors hereby consent and agree to such sale, lease or
other disposition of the Collateral by Agent. Borrower and the Guarantors hereby
waive, renounce and forever relinquish all rights to notice prior to disposition
of the Collateral required by the Loan Documents, and all rights that are
waivable under Article 9 of the Uniform Commercial Code, as enacted in any
applicable state (and similar provisions of any applicable law of any other
jurisdiction), whether such rights are waivable before or after default,
including, without limitation, those rights with respect to the compulsory
disposition of collateral and with respect to redemption of collateral, and the
right to notice of any disposition of the Collateral. Borrower and Guarantors
further waive and forever relinquish any and every right of redemption,
including any statutory right of redemption, any equitable right of redemption,
and any other right of redemption that may exist. This paragraph and the
irrevocable waivers contained herein shall survive the termination of this
Amendment and the Loan Documents.

         D. AGENT'S ACTIONS; COOPERATION. Upon surrender of the Collateral to
Agent, Agent will dispose of the Collateral in a commercially reasonable manner.
Borrower and the Guarantors agree to cooperate fully with Agent in facilitating
the disposition of the Collateral, including (i) granting Agent the right to
take possession of any premises operated by Borrower for purposes of changing
locks, securing the Collateral and conducting sale of the Collateral, and (ii)
providing any information and, upon Agent's request, executing any documents
necessary to place title to the Collateral or any portion thereof in Agent.

                                      -15-
<PAGE>   16

         E. COOPERATION OF BORROWER AND GUARANTORS. Borrower and Guarantors
shall take any and all actions of any kind or nature whatsoever, either directly
or indirectly, that are necessary to prevent Agent and each Lender from
suffering a loss with respect to the Obligations, the Collateral or of any
rights or remedies of Agent or any Lender with respect to the Obligations, the
Loan Documents or this Amendment in the Event of a Default. Borrower nor any
Guarantor shall enter into any agreements with any creditors other than Agent
that might impair Borrower's ability to perform under this Amendment or the Loan
Documents, it being specifically agreed by Borrower that Borrower shall promptly
provide Agent with copies of any and all such agreements that Borrower has
entered into before the date of this Amendment and any agreements with any other
creditor that may constitute an agreement that Borrower may enter into during
the term hereof.

         F. REMEDIES. In addition to any and all remedies available under the
Loan Documents, Borrower and each Guarantor agrees that immediately upon the
occurrence of an Event of Default, and notwithstanding anything to the contrary
set forth herein, Agent shall have the rights and remedies set forth in the Loan
Documents and in any other document previously, now or hereafter executed and
delivered to Agent by Borrower in connection with the Loan Documents, the rights
and remedies contained in this Amendment, and all rights and remedies existing
under applicable law. All rights and remedies shall be cumulative and not
exclusive, and Agent shall have the right to exercise any and all other rights
and remedies which may be available. Any action by Agent against any property or
party shall not serve to release or discharge any other security, property or
person in connection with this transaction. In addition to any other rights and
remedies which may be available, Agent may, in its sole discretion: (i) enter,
with or without process of law, any premises where the Collateral or the books
and records of Borrower related thereto are or may be located, and without
charge or liability to Agent therefore, seize and remove the Collateral and
books and records in any way relating to the Collateral from such premises
and/or remain upon the premises and use the same (together with said books and
records) for the purpose of collecting, preparing and/or disposing of the
Collateral; (ii) sell or otherwise dispose of the Collateral at public or
private sale for cash or credit; (iii) in the event that Borrower fails to
perform, observe or discharge any of its obligations or liabilities under this
Amendment or the Loan Documents, obtain temporary and permanent injunctive
relief without the necessity of proving irreparable injury, and without the
necessity of posting a bond or other security, it being expressly recognized and
agreed that no remedy at law will provide adequate relief to Lender under such
circumstances.

         Upon the occurrence of an Event of Default and at all times thereafter,
Agent, without the necessity of obtaining any prior approval of any court, shall
be entitled to (a) terminate all advances or other extensions of credit; (b)
return any and all checks drawn against Borrower's account at Agent or any
Lender, upon payment of all checks issued prior to the occurrence of such Event
of Default; (c) apply all funds in Borrower's account at Agent, any Lender or
any other financial institution that has executed a Blocked Account Agreement in
favor of Agent to liability; and (d) exercise in respect of any Collateral it
may hold all rights and remedies of the secured creditor available to it under
applicable laws, and Agent shall also be entitled to exercise all rights and
remedies available to Agent as a creditor generally, including, without
limitation, all remedies available to Agent under the Loan Documents, as well as
rights and remedies available to Agent at

                                      -16-
<PAGE>   17

law or in equity. All of its rights and remedies shall be cumulative. No failure
or delay on the part of Agent in exercising the power, right or remedy under any
of the Loan Documents shall operate as a waiver thereof, and no single or
partial release of any such power, right or remedy shall preclude any further
exercise thereof or the exercise of any other party, right or remedy.

         No provision of or exercise of any rights under this Section shall
limit the right of any party to exercise self help remedies such as setoff,
collection of rents, to foreclose against any real or personal property
collateral, or to obtain provisional or ancillary remedies such as injunctive
relief or the appointment of a receiver from a court having jurisdiction before,
during or after the pendency of any arbitration. At Agent's option, foreclosure
under a deed of trust or mortgage may be accomplished either by exercise of
power of sale under the deed of trust or mortgage or by judicial foreclosure.
The institution and maintenance of an action for judicial relief or pursuit of
provisional ancillary remedies or exercise of self help remedies shall not
constitute a waiver of the controversy or claim to arbitration.

         G. WAIVER AND RELEASE OF ALL CLAIMS AND DEFENSES. All defenses and
claims of every kind or nature, whether existing by virtue of state, federal, or
local law, by agreement or otherwise, against Agent or any Lender, the
Obligations, or the Collateral, whether previously or now existing or arising
out of or related to any transaction or dealings between Agent, Lenders and
Borrower or Agent, Lenders and any Guarantor or any of them, which Borrower or
Guarantors or any of them may have or may have made at any time up through and
including the date of this Amendment, are hereby forever waived, relinquished,
discharged and released against the Obligations, the Collateral, and Agent,
Lenders, their successors, assigns, directors, officers, shareholders, agents,
employees and attorneys, including, without limitation, any affirmative
defenses, counterclaims, setoffs, deductions or recoupments, by Borrower,
Guarantors and all of their representatives, successors, assigns, agents,
employees, officers, directors and heirs. All defenses and claims of every kind
or nature, whether existing by virtue of state, federal, or local law, by
agreement or otherwise, against Agent, whether previously or now existing or
arising out of or related to any transaction or dealings between Agent, Lenders
and Borrower or Agent, Lenders and any Guarantor or any of them, which any
Lender may have or may have made at any time up through and including the date
of this Amendment, are hereby forever waived, relinquished, discharged and
released against the Agent and its successors, assigns, directors, officers,
shareholders, agents, employees and attorneys, including, without limitation,
any affirmative defenses, counterclaims, setoffs, deductions or recoupments, by
any Lender and all of its representatives, successors, assigns, agents,
employees, officers, directors and heirs. By way of illustration but not
limitation, "Claims" includes all debts, demands, actions, causes of action,
suits, dues, sums of money, accounts, bonds, warranties, covenants, contracts,
controversies, promises, agreements or obligations of any kind, type or
description, and any other claim or demand of any nature whatsoever, whether
known or unknown, accrued or unaccrued, disputed or undisputed, liquidated or
contingent, in contract, tort, at law or in equity, any of them ever had,
claimed to have, now has, or shall or may have. Nothing contained in this
Amendment prevents enforcement of this release.

                                      -17-
<PAGE>   18

         H. INDEMNIFICATION. In addition to any other obligations of
indemnification, Borrower and Guarantors hereby jointly and severally assume
responsibility and liability for, and hereby hold harmless and indemnify Agent
and Lenders from and against, any and all, by way of example but without
limitation, liabilities, demands, obligations, injuries, costs, damages (direct,
indirect or consequential), awards, loss of interest, principal or any portion
of the Indebtedness, charges, expenses, payments of money and reasonable
attorneys, fees, incurred or suffered, directly or indirectly, by Agent or
Lenders or asserted against Agent or Lenders, by any person or entity
whatsoever, including Borrower and Guarantors or any of them, arising out of
this Amendment, or any document executed in connection herewith, or the
relationship between or among the parties hereto, or the exercise of any right
or remedy, including the realization, disposition or sale of the Collateral, or
any portion thereof, or the exercise of any right in connection therewith, for
which Agent or Lenders may be liable, for any reason whatsoever except for
Agents or Lenders own acts of gross negligence.

         I. WAIVER OF CONTRIBUTION RIGHTS. Borrower and each Guarantor waives
any claim or other right which any of them may have or hereafter acquire against
one another or any other person that is primarily or contingently liable on the
Obligations, including, without limitation, any right of subrogation,
reimbursement, exoneration, contribution, indemnification and any right to
participation in any claim or remedy of Agent or Lenders against Borrower, any
Guarantor or any collateral security therefore.

         J. CONSENT TO RELIEF FROM AUTOMATIC STAY. Borrower and each Guarantor
hereby agrees that if they, individually or jointly, shall (i) file with any
bankruptcy court of competent jurisdiction or be the subject of any petition
under Title 11 of the United States Code, as amended, (ii) be the subject of any
order for relief issued under such Title 11 of the U.S. Code, as amended, (iii)
file or be the subject of any petition seeking any reorganization, arrangement,
composition, readjustment, liquidation, dissolution, or similar relief under any
present or future federal or state act or law relating to bankruptcy,
insolvency, or other relief for debtors, (iv) seek consent to or acquiesce in
the appointment of any trustee, receiver, conservator, or liquidator, (v) be the
subject of any order, judgment or decree entered by any court of competent
jurisdiction approving a petition filed against Borrower or any of Guarantor for
any reorganization, arrangement, composition, readjustment, liquidation,
dissolutionment, or similar relief under any present or future federal or state
act or law relating to bankruptcy and insolvency, or relief for debtors, Agent
shall thereupon be entitled to relief from any automatic stay imposed by Section
362 of Title 11 of the United States Code, as amended, or from any other stay or
suspension of remedies imposed in any other manner with respect to the exercise
of the rights and remedies otherwise available to Agent under the terms of this
Amendment and the Loan Documents. Borrower agrees that upon the occurrence of an
Event of Default hereunder or under the Loan Documents Agent shall be entitled
to and Borrower hereby consents to the appointment of a receiver for the
Collateral under Ohio law or under any other applicable law in any other court
of appropriate jurisdiction.

         K. INDULGENCE; MODIFICATIONS. No delay or failure of Agent or Lenders
to exercise any right, power or privilege hereunder shall affect such right,
power or privilege nor shall any single or

                                      -18-
<PAGE>   19

partial exercise thereof preclude any further exercise thereof, nor the exercise
of any other right, power or privilege. The rights of Agent and Lenders
hereunder are cumulative and are not exclusive of any rights or remedies which
Lender would otherwise have except as modified herein. No amendment,
modification, supplement, termination, consent or waiver of or to any provision
of this Amendment or the Loan Documents, nor any consent to any departure
therefrom, shall in any event be effective unless the same shall be in writing
and signed by or on behalf of Agent.

         L. POWER OF ATTORNEY. Borrower and Guarantors do hereby irrevocably
constitute and appoint Agent its or his true and lawful attorney-in-fact for it
or him, in its or his name, place and stead, with full power of delegation and
substitution, to make, execute, deliver any and all instruments, papers and
documents, which shall become necessary, proper, convenient or desirable to
further evidence perfection of Agent's liens against, or to liquidate any of,
the Collateral, including, without limitation, the right to supply any necessary
endorsement for any instrument or in connection with the Warrant Agreement.

         M. REVERSAL OF PAYMENTS. If Agent or any Lender receives any payments
or proceeds of Collateral which are subsequently invalidated, declared to be
fraudulent or preferential, set aside or required to be paid to a trustee,
debtor-in-possession, receiver or any other party under any bankruptcy law,
common law, equitable cause or otherwise, then, to such extent, the obligations
or part thereof intended to be satisfied by such payments or proceeds shall be
reserved and continue as if such payments or proceeds had not been received by
Agent or such Lender.

SECTION 20. MISCELLANEOUS.

         A. In consideration of this Amendment, Borrower hereby releases and
discharges Agent and Lenders and their shareholders, directors, officers,
employees, attorneys, affiliates and subsidiaries from any and all claims,
demands, liability and causes of action whatsoever, now known or unknown,
arising prior to the Effective Date of this Amendment out of or in any way
related to the extension or administration of the obligations, liabilities, and
indebtedness of Borrower to Agent and Lenders, the Original Agreement or any
mortgage or security interest related thereto or any other Loan Document.

         B. Borrower, Agent and Lenders hereby agree to extend all liens and
security interests securing the obligations, liabilities, and indebtedness of
Borrower to Agent and Lenders, until said obligations, liabilities, and
indebtedness, as modified herein, and any and all related promissory notes have
been fully paid. The parties hereto further agree that this Amendment shall in
no manner affect or impair the liens and security interests evidenced by the
Original Agreement and/or any other instruments evidencing, securing or related
to the obligations, liabilities, and indebtedness. Borrower hereby acknowledges
that all liens and security interests securing the obligations, liabilities, and
indebtedness of Borrower to Lenders are valid and subsisting.

         C. Borrower covenants and agrees (i) to pay the balance of any
principal, together with all accrued interest, as specified above in connection
with any promissory note executed and

                                      -19-
<PAGE>   20

evidencing any indebtedness incurred in connection with the Original Agreement,
as modified by this Amendment, and (ii) to perform and observe covenants,
agreements, stipulations and conditions on its part to be performed hereunder or
under the Original Agreement as amended by this Agreement and all other related
Loan Documents executed in connection herewith or therewith.

         D. Borrower hereby declares and certifies to Lenders that as of the
Effective Date of this Amendment, no Event of Default exists under the Original
Agreement, as amended by this Amendment, nor shall any event have occurred
which, with the giving of notice or the passage of time, or both, would
constitute an Event of Default.

         E. Borrower hereby represents and warrants to Agent and Lenders that
(a) Borrower has the legal power and authority to execute and deliver this
Amendment; (b) the officials executing this Amendment have been duly authorized
to execute and deliver the same and bind Borrower with respect to the provisions
hereof; (c) the execution and delivery hereof by Borrower and the performance
and observance by Borrower of the provisions hereof do not violate or conflict
with the organizational agreements of Borrower or any law applicable to Borrower
or result in a breach of any provisions of or constitute a default under any
other agreement, instrument or document binding upon or enforceable against
Borrower; and (d) this Amendment constitutes a valid and binding obligation upon
Borrower in every respect.

SECTION 21. MUTUAL WAIVER OF JURY TRIAL.

         AS A SPECIFICALLY BARGAINED INDUCEMENT FOR LENDERS TO EXTEND CREDIT TO
BORROWER AND FOR BORROWER TO BORROW FROM LENDERS, AND AFTER HAVING THE
OPPORTUNITY TO CONSULT COUNSEL, BORROWER HEREBY EXPRESSLY WAIVES THE RIGHT TO
TRIAL BY JURY IN ANY LAWSUIT OR PROCEEDING RELATING TO THIS AMENDMENT OR THE
OTHER LOAN DOCUMENTS OR ARISING IN ANY WAY FROM THE LOANS OR OTHER OBLIGATIONS
UNDER THE LOAN DOCUMENTS.

                [REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

                                      -20-
<PAGE>   21

         IN WITNESS WHEREOF, the parties have caused this Amendment to be duly
executed and delivered by their proper and duly authorized officers.

AGENT,
LETTER OF CREDIT LENDER, AND
LENDER:

    THE PROVIDENT BANK

By:
    --------------------------
    William L. Huffman, Jr.
    Vice President

LENDER:

    NATIONAL CITY BANK                                LASALLE BANK
                                                 NATIONAL ASSOCIATION

By:                                      By:
    -----------------------------            --------------------------------
     Patrick Pastore                         Henry J. Munez
     Vice President                          Assistant Vice President

BORROWER:

       HIA TRADING ASSOCIATES,                       MAZEL STORES, INC.,
       a New York general partnership              a Delaware corporation

By:    ODD-JOB ACQUISITION CORP.,         By:
        a Delaware corporation                 ------------------------------
                                          Name:
                                               ------------------------------
                                          Its:
                                               ------------------------------
By:
       -------------------------------
Name:                                            ODD-JOB ACQUISITION CORP.,
       -------------------------------            a Delaware corporation
Its:
       -------------------------------

                                          By:
                                               ------------------------------
                                          Name:
                                               ------------------------------
                                          Its:
                                               ------------------------------

                                      -21-
<PAGE>   22

                                    ANNEX 1-B
                                    ---------

                             COMMITMENTS OF LENDERS
                             ----------------------

The Revolving Credit Commitment of each Lender for the period from and including
January 1st of each calendar year to and including April 30th of each calendar
year until the Revolving Credit Termination Date shall be as follows:

<TABLE>
<CAPTION>

        =================================================================================================

                  NAME OF              REVOLVING CREDIT          TERM LOAN                 RATABLE
                  LENDER                  COMMITMENT             COMMITMENT                PORTION
        =================================================================================================

<S>                                     <C>                    <C>                           <C>
            THE PROVIDENT BANK          $25,000,000.00         $2,000,000.00                 50%
        -------------------------------------------------------------------------------------------------

           LASALLE NATIONAL BANK        $12,500,000.00         $1,000,000.00                 25%
                ASSOCIATION
        -------------------------------------------------------------------------------------------------

            NATIONAL CITY BANK          $12,500,000.00         $1,000,000.00                 25%
        -------------------------------------------------------------------------------------------------

                   TOTAL                $50,000,000.00         $4,000,000.00                100%
        =================================================================================================
</TABLE>

The Revolving Credit Commitment of each Lender for the period from and including
May 1st of each calendar year to and including December 31st of each calendar
year until the Revolving Credit Termination Date shall be as follows:

<TABLE>
<CAPTION>

        =================================================================================================

                  NAME OF              REVOLVING CREDIT          TERM LOAN                 RATABLE
                  LENDER                  COMMITMENT             COMMITMENT                PORTION
        =================================================================================================

<S>                                     <C>                    <C>                           <C>
            THE PROVIDENT BANK          $30,000,000.00         $2,000,000.00                 50%
        -------------------------------------------------------------------------------------------------

           LASALLE NATIONAL BANK        $15,000,000.00         $1,000,000.00                 25%
                ASSOCIATION
        -------------------------------------------------------------------------------------------------

            NATIONAL CITY BANK          $15,000,000.00         $1,000,000.00                 25%
        -------------------------------------------------------------------------------------------------

                   TOTAL                $60,000,000.00         $4,000,000.00                100%
        =================================================================================================
</TABLE>

<PAGE>   23

                                     ANNEX 2
                                     -------

                         FORM BORROWING BASE CERTIFICATE
                         -------------------------------

<PAGE>   24

                                     ANNEX 3
                                     -------

                                   PROJECTIONS
                                   -----------

<PAGE>   25

                                     ANNEX 4
                                     -------

                            AVAILABILITY PROJECTIONS
                            ------------------------

<PAGE>   26

                                     ANNEX 5
                                     -------

                            FORM OF WARRANT AGREEMENT
                            -------------------------

<PAGE>   27

                                     ANNEX 6
                                     -------

                         FORM OF PERFECTION CERTIFICATE
                         ------------------------------<PAGE>   1
                                                                     Exhibit 4.5

                                WARRANT AGREEMENT
                                -----------------

         This Warrant Agreement (the "Warrant") shall be effective as of the
_____ day of June, 2001, by and between MAZEL STORES, INC. ("Stores") an Ohio
corporation, WHOSE MAILING ADDRESS IS 31000 Aurora Road, Solon, Ohio 44139, and
THE PROVIDENT BANK ("Agent"), an Ohio banking corporation, whose mailing address
is 1111 Superior Avenue, Cleveland, Ohio 44114-2522, LASALLE BANK NATIONAL
ASSOCIATION ("LaSalle"), a national banking association whose mailing address is
135 South LaSalle Street, Chicago, Illinois 60603, and NATIONAL CITY BANK
("NCB," and together with Agent and LaSalle, collectively "Lenders"), a national
banking association whose mailing address is National City Center, P.O. Box
5756, Loc. 2104, Cleveland, Ohio 44101-0756.

                              W I T N E S S E T H:
                              -------------------

         WHEREAS, Stores and Odd-Job Acquisition Corp., a Delaware corporation,
and HIA Trading Associates, a New York General Partnership (collectively,
"Borrower") and Lenders are parties to that certain Asset Based Loan and
Security Agreement dated as of March 10, 1998, as amended by that certain First
Amendment to Asset Based Loan and Security Agreement dated as of July 31, 1999,
that certain Second Amendment to Asset Based Loan and Security Agreement dated
as of May 15, 2000 and that certain Third Amendment to Asset Based Loan and
Security Agreement of even date herewith (collectively, the "Agreement");

         WHEREAS, the Agreement, as amended, requires execution and delivery of
this Warrant as a condition to Lenders' Obligations thereunder;

         NOW, THEREFORE, in consideration of the mutual promises and
undertakings herein contained, the parties agree as follows:

         1.  GRANT OF WARRANT.

         1.1 GRANT. Stores hereby grants to Lenders this Warrant, which is
exercisable in whole or in part and otherwise as provided herein, to purchase an
aggregate of up to _________________ Common Shares, no par value, of Stores (as
they may be hereinafter adjusted, the "Warrant Shares"), at an exercise price of
One Cent ($.01) per share (as such exercise price may be hereinafter adjusted,
the "Exercise Price") and representing ten percent (10%) of the issued and
outstanding shares of Stores.

         1.2 SHARES TO BE ISSUED; RESERVATION OF SHARES. Stores covenants and
agrees that all Warrant Shares will, upon issuance, be duly authorized, validly
issued and outstanding, fully paid and non-assessable, and free from all taxes,
excluding income or franchise taxes, liens and charges with respect to the
issuance thereof. Stores further covenants and agrees that so long as this
Warrant remains outstanding, during the Exercise Period (as hereinafter
defined), Stores will at all times have authorized and reserved sufficient
Common Shares to provide for the exercise of this Warrant in full.

<PAGE>   2

         1.3 CANCELLATION. Lenders acknowledge and agree that in the event that
on or before September 1, 2001: (a) Borrower has repaid in full all of the
Obligations (as defined in the Agreement), this Warrant shall be cancelled and
be of no further force and effect; (b) Borrower has consummated an investment
transaction with a source of subordinated capital in an amount not less than
$10,000,000, upon terms and conditions acceptable to Lenders, including
acceptable standstill and blockage rights, this Warrant shall will be cancelled
and be of no further force and effect; or (c) Borrower has consummated an
investment transaction with a source of subordinated capital in an amount less
than Ten Million Dollars ($10,000,000), upon terms and conditions acceptable to
Lenders, this Warrant shall be cancelled and be of no further force and effect,
but only to the extent of ten percent (10%) of the Warrant Shares for each
$1,000,000 of subordinated capital raised and funded to Borrower by such date.

         2.  EXERCISE.

         2.1 EXERCISE OF WARRANT. This Warrant becomes exercisable on September
2, 2001, and must be exercised on or before September 2, 2011 (the "Exercise
Period"), provided, however, that Lenders may not exercise this Warrant unless
permitted to do so by applicable law. A permitted direct or indirect assignee or
assignees of Lenders (each a "Holder") may exercise this Warrant by (a)
surrendering this Warrant, with the form of exercise notice attached hereto as
EXHIBIT A duly executed by any such Holder and with the form of assignment
attached hereto as EXHIBIT B duly executed by Lenders or other registered
holder, and (b) making payment to Stores of the aggregate Exercise Price for the
applicable Warrant Shares in cash, by certified check or bank check or by wire
transfer to an account designated by Stores. Upon any partial exercise of this
Warrant, Stores shall forthwith cancel the surrendered Warrant and issue a
replacement warrant identical in all respect to the surrendered Warrant, except
that the number of Warrant Shares shall be reduced accordingly.

         2.2 ISSUANCE OF WARRANT SHARES. Any Warrant Shares purchased hereunder
shall be and are deemed to be issued to such Holder as the record owner of such
shares as of the close of business on the date upon which the Warrant exercise
notice was duly delivered and payment of the Exercise Price was tendered to
Stores pursuant to Section 2.1 hereof. A certificate or certificates for the
Warrant Shares so purchased shall be delivered by Stores to such Holder promptly
upon exercise.

         3.  ADJUSTMENT TO WARRANT SHARES.

         3.1 ADJUSTMENT UPON CHANGES IN CAPITALIZATION. In the event of any
change in the common shares, no par value, of Stores (the "Common Shares") by
reason of any subdivision or combination of shares or any stock dividend, stock
split, recapitalization or reclassification, the type and number of Warrant
Shares issuable upon exercise of this Warrant immediately prior to the record
date for such dividend or distribution, or the effective date of such
recapitalization or reclassification, shall be adjusted to that type and number
of Warrant Shares which Lenders and/or Holders would have been entitled to
receive as a result of the dividend, distribution, recapitalization or
reclassification had the Warrant been exercised immediately prior to that date.
In addition, the Exercise Price shall be adjusted to the extent necessary to
entitle the Lenders and/or Holders to receive the Warrant Shares, as so
adjusted, upon the payment of the same amount of money as would

                                       2
<PAGE>   3

have entitled such Lenders and/or Holders to receive the Warrant Shares
immediately prior to such record or effective date.

         3.2 EXCHANGE, SUBSTITUTION OR OTHER CHANGE. In the event of any change
in the Common Shares by reason of any exchange, substitution or otherwise (other
than a subdivision or combination of shares, or stock dividend, stock split,
recapitalization or reclassification, or a reorganization, merger, consolidation
or sale of assets, provided for elsewhere in this Article 3), the type and
number of Warrant Shares issuable upon exercise of this Warrant immediately
prior to the effective date of such exchange, substitution or other change,
shall be adjusted to that type and number of Warrant Shares which the Lenders
and/or Holders would have owned and been entitled to receive as a result of the
exchange, substitution or other change had this Warrant been exercised
immediately prior to such exchange, substitution or change. In addition, the
Exercise Price shall be adjusted to the extent necessary to entitle the Lenders
and/or Holders to receive the Warrant Shares, as so adjusted, upon the payment
of the same amount of money as would have entitled such Lenders and/or Holders
to receive the Warrant Shares immediately prior to such effective date.

         3.3 REORGANIZATIONS, MERGERS, CONSOLIDATIONS OR SALES OF ASSETS. If any
of the following transactions (each a "Special Transaction") shall become
effective: (a) a capital reorganization (other than a subdivision or combination
of shares or a stock dividend, stock split, recapitalization or
reclassification, or an exchange of shares or a substitution or other change,
provided for elsewhere in this Article 3); (b) a consolidation or merger of
Stores with and into another entity (where Stores is not the surviving entity or
where there is a change in, or distribution with respect to, the Common Shares);
or (c) a sale or conveyance of all or substantially all of Stores' assets, then,
as a condition of the Special Transaction, lawful and adequate provision shall
be made so that the Lenders and/or Holders shall thereafter have the right to
purchase and receive upon exercise of this Warrant, in lieu of the Warrant
Shares immediately theretofore issuable upon exercise of this Warrant, such
shares of stock, other securities, cash or other assets (collectively, "Other
Property") as may be issued or payable in, or pursuant to, the terms of such
Special Transaction to the holders of Common Shares for which this Warrant could
have been exercised immediately prior to such Special Transaction. Stores shall
not effect any Special Transaction unless prior to, or simultaneously with, the
closing, the successor entity (if other than Stores) resulting from such
consolidation or merger, or the entity acquiring such assets, shall assume by a
written instrument executed and mailed by certified mail or delivered to the
Lenders and/or Holders at the address(es) of the Lenders and/or Holders
appearing on the books of Stores, the obligation of Stores or such successor
entity to deliver to the Lenders and/or Holders such Other Property, as in
accordance with the foregoing provisions, upon the exercise of this Warrant.

         3.4 ADJUSTMENT UPON ISSUANCE OF COMMON SHARES OR COMMON SHARE
EQUIVALENTS. In the event of issuance of any Common Shares, or any options,
warrants or other rights or options to subscribe for or to purchase any Common
Shares (collectively, the "Options"), or any securities convertible into or
exchangeable for Common Shares or for any Options (together with the Options,
the "Common Share Equivalents"), other than an issuance pursuant to employee
benefit and compensation plans existing as of the date of this Warrant or an
issuance of Common Shares at Fair Market Value as defined in this Section 3.4,
the number of Warrant Shares issuable upon exercise of this Warrant immediately
prior to any such issuance shall not be adjusted except to the extent

                                       3
<PAGE>   4

necessary for the Lenders and/or Holders to receive, upon exercise of this
Warrant, at least seven percent (7%) of the Common Shares on a fully-diluted
basis immediately after any such issuance. In addition, in any event the
Exercise Price shall be adjusted to the extent necessary to entitle the Lenders
and/or Holders to receive the Warrant Shares, as adjusted, upon the payment of
the same amount of money as would have entitled such Lenders and/or Holders to
receive the Warrant Shares immediately prior to any such issuance. For purposes
of this Warrant, Fair Market Value on a particular date shall mean the average
of the high and low sales prices of a Common Share as reflected in the report of
consolidated trading of the principal public trading market for such shares on
such date (or if no such shares were so traded on such date, on the next
preceding date that such shares were so traded), as published in the Midwest
Edition of THE WALL STREET JOURNAL; provided, however, that if no Common Shares
have been publicly traded for more than ten (10) days immediately preceding such
date, then Fair Market Value shall be as determined in good faith by Stores'
Board of Directors.

         3.5 NOTICE. Whenever the number of Warrant Shares issuable hereunder is
to be adjusted as provided herein or a dividend or distribution (in cash, stock
or otherwise and including any liquidating distributions) is to be declared by
Stores, or a definitive agreement has been entered into with respect to a
capital reorganization or reclassification of the capital stock of Stores, a
consolidation or merger of Stores with and into another entity or a sale or
conveyance of all or substantially all of Stores' assets, Stores shall forthwith
cause to be sent to Lenders and/or Holders, at least fifteen (15) days prior to
the record date specified in (a) below or at least thirty (30) days before the
date specified in (b) below, a notice stating in reasonable detail the relevant
facts and any resulting adjustments and the calculation thereof, if applicable,
and stating (if applicable):

         (a) the date to be used to determine (i) which holders of Common Shares
             will be entitled to receive notice of such dividend, distribution,
             subdivision or combination, and (ii) the date as of which such
             dividend, distribution, subdivision or combination will be made;
             or, if a record is not to be taken, the date as of which the
             holders of Common Shares of record to be entitled to such dividend,
             distribution, subdivision or combination are to be determined; or

         (b) the date on which a capital reorganization or reclassification of
             the capital stock of Stores, a consolidation or merger of Stores
             with and into another entity or a sale or conveyance of all or
             substantially all of Stores' assets is expected to become
             effective, and the date as of which it is expected that holders of
             Common Shares of record shall be entitled to exchange their Common
             Shares for securities or other property deliverable upon
             consummation of such transaction.

         3.6 FRACTIONAL INTERESTS. Stores shall not be required to issue
fractions of Common Shares or other securities on the exercise of this Warrant.
If any fraction of a common share or other security would, except for the
provisions of this Section 3.6, be issuable upon the exercise of this Warrant,
Stores shall, upon such issuance, purchase such fraction for an amount in cash
equal to the Fair Market Value of such fraction.

                                       4
<PAGE>   5

         3.7 EFFECT OF ALTERNATE SECURITIES. If at any time, as a result of an
adjustment made pursuant to this Article 3, the Lenders and/or Holders shall
thereafter become entitled to receive any securities of Stores other than Common
Shares, then the number of such other securities receivable upon exercise of
this Warrant shall be subject to adjustment from time to time on terms as nearly
equivalent as practicable to the provisions with respect to Common Shares
contained in this Article 3.

         3.8 SUCCESSIVE APPLICATION. The provisions of this Article 3 shall
similarly apply to successive events covered by this Article 3.

         4.  PUT RIGHTS. At any time from September 2, 2006 until September 2,
2011, during which time the Common Shares are:

             (a)   no longer held of record by at least 300 people, or

             (b)   neither listed on any national securities exchange nor
                   authorized to be quoted on an inter-dealer quotation system
                   of any registered national securities association,

in either case within the meaning of Rule 13e-3 promulgated under the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), or any similar successor
rule, the Lenders and/or any Holder of this Warrant and/or Warrant Shares may
furnish a written request for repurchase to Stores. Stores shall, not more than
five (5) days after receipt of such a request, repurchase all of the Warrant
Shares which are the subject of such request, for a purchase price equal to the
number of Warrant Shares being repurchased, multiplied by the following formula:
(EBITDA x 5.0) - funded debt plus cash. To the extent that Stores is unable to
pay the entire purchase price in cash from Excess Cash Flow, as defined below,
or is prohibited as a matter of law, Stores shall immediately execute a cognovit
promissory note for the amount of the deficiency (the "Put Note"). The principal
amounts outstanding under the Put Note shall earn interest at the Prime Rate, as
defined in the Agreement, or the maximum rate allowed by law, whichever is
lower, and the Put Note shall require that any and all Excess Cash Flow be
immediately applied, first to reduce accrued but unpaid interest and second to
reduce the unpaid principal balance outstanding under the Put Note. For purposes
of this Article 4, Excess Cash Flow shall have the same meaning as such term is
defined in the Agreement.

         5.   RIGHTS OF LENDERS.  Prior to the  issuance of the Warrant  Shares
upon due exercise thereof, no Holder of this Warrant shall be entitled to any
rights of a shareholder in Stores with respect to the Warrant Shares.

         6.   REGISTRATION RIGHTS.

         6.1  DEMAND REGISTRATIONS.

              (a)  At any time after August 1, 2001, the holders of a majority
                   of the Registrable Securities shall be entitled to request
                   registration (a "Demand Request") under the Securities Act of
                   1933, as amended (the "Securities Act") of all or

                                       5
<PAGE>   6

                   any portion of their Registrable Securities. Registrable
                   Securities means any Common Share or other securities issued
                   or issuable under this Warrant. For purposes of this Warrant,
                   a Person will be deemed to be the holder of Registrable
                   Securities whenever such Person has the right to acquire,
                   directly or indirectly, such Registrable Securities (upon
                   conversion or exercise in connection with a transfer of
                   securities or otherwise, but disregarding any restrictions or
                   limitations upon the exercise of such right), whether or not
                   such acquisition has actually been effected. As to any
                   particular securities constituting Registrable Securities,
                   such securities will cease to be Registrable Securities when
                   they have been (x) effectively registered under the
                   Securities Act and disposed of in accordance with the
                   registration statement covering them, or (y) sold to the
                   public through a broker, dealer or market maker pursuant to
                   Rule 144 (or any similar provision then in force) under the
                   Securities Act. Under this Article 6, a Person is any
                   individual or entity. A registration requested pursuant to
                   this Section 6.1(a) is referred to in this Article 6 as a
                   Demand Registration. The Demand Request shall specify the
                   approximate number and type of Registrable Securities
                   requested to be registered and the intended method of
                   distribution thereof (which may include an underwritten
                   registration on a firm commitment basis). Within ten days
                   after receipt of a Demand Request, Stores shall give written
                   notice of such requested registration to each other holder of
                   Registrable Securities and shall include in such registration
                   all Registrable Securities with respect to which Stores has
                   received written requests for inclusion therein and the
                   intended method of distribution thereof within 30 days after
                   the receipt by Stores of the Demand Request; provided,
                   however, that in no event will Stores be required to file the
                   first Demand Registration prior to September 10, 2001.

              (b)  The holders of the Registrable Securities as a group shall be
                   entitled to request two Demand Registrations. A registration
                   shall not count as a Demand Registration until it has become
                   effective under the Securities Act and any blue sky laws of
                   any applicable state and remains so effective until the
                   earlier of (i) the date all Registrable Securities included
                   therein have been sold pursuant thereto, or (ii) so long as
                   at least 75% of the Registrable Securities included therein
                   have been sold, the time periods for which such registration
                   statement is required to be maintained as effective under
                   Section 6.6(b) have expired, unless such registration
                   statement is withdrawn at the request of the holders of a
                   majority of the Registrable Securities included therein
                   (other than a withdrawal described in Section 6.1(d)).

              (c)  All Registrable Securities requested to be included in a
                   Demand Registration shall be included unless the offering is
                   to be underwritten and the managing underwriters advise
                   Stores in writing that all of the Registrable Securities
                   requested to be included may not be sold without adversely
                   affecting the marketability of the offering. In such case,
                   the number of such Registrable

                                       6
<PAGE>   7

                   Securities included in the offering shall be allocated pro
                   rata among the holders of such Registrable Securities on the
                   basis of the total number of Registrable Securities requested
                   by each such holder to be included. If all Registrable
                   Securities requested to be included in the Demand
                   Registration are so included, Stores may include in the
                   Demand Registration other securities to be sold by Stores for
                   its own account or to be sold by other Persons, unless the
                   managing underwriters advise Stores in writing that in their
                   opinion the inclusion of such other securities will cause the
                   number of Registrable Securities and other securities
                   requested to be included in the offering to exceed the number
                   which may be sold without adversely affecting the
                   marketability of the offering.

              (d)  Stores shall not be obligated to effect a Demand Registration
                   within 120 days after the effective date of a previous
                   registration of securities by Stores under the Securities Act
                   if the holders of Registrable Securities were given piggyback
                   rights in such previous registration pursuant to Section 6.2
                   and all Registrable Securities requested to be included in
                   such registration pursuant to Section 6.2 were included
                   therein. Stores shall be entitled to postpone, for up to 90
                   days (or for up to 120 days if the Demand Request relating to
                   the registration statement is received during the last month
                   or the first quarter of any fiscal year) the filing of any
                   registration statement otherwise required to be prepared and
                   filed by it pursuant hereto if, at the time it receives a
                   Demand Request, Stores would be required to prepare for
                   inclusion or incorporation into the registration statement
                   any financial statements other than those that it customarily
                   prepares or would materially interfere with any financing,
                   refinancing, acquisition, disposition, corporate
                   reorganization or other material corporate transaction or
                   development involving Stores and Stores promptly gives the
                   holders of the Registrable Securities making the Demand
                   Request written notice of such determination; provided,
                   however, that if Stores shall so postpone the filing of a
                   registration statement, the holders of a majority of the
                   Registrable Securities making the Demand Request shall have
                   the right to withdraw the Demand Request by giving written
                   notice to Stores within 30 days after the receipt of notice
                   of postponement and, in the event of such withdrawal, the
                   withdrawn Demand Request shall be deemed not to have been
                   made and shall not count as a Demand Registration.

              (e)  The holders of a majority of the Registrable Securities
                   included in the Demand Registration shall have the right to
                   select the investment banker(s) and manager(s), if any, to
                   administer the Demand Registration, subject to the approval
                   of Stores, which approval shall not be unreasonably withheld,
                   delayed or conditioned.

              (f)  From and after the date hereof, Stores shall not grant to any
                   Person the right to request the Company to register any
                   Common Shares or any other debt or equity securities of
                   Stores, or any securities convertible or exchangeable into

                                       7
<PAGE>   8

                  or exercisable for such securities, without the prior written
                  consent of the holders of a majority of the Registrable
                  Securities; provided, however, that Stores may without the
                  consent of such holders, grant rights to other Persons to (i)
                  participate in Piggyback Registrations so long as such rights
                  are subordinate to the rights of the holders of Registrable
                  Securities in any such registration; and (ii) request
                  registrations so long as the holders of Registrable Securities
                  are entitled to participate in any such registrations pari
                  passu with such Persons.

         6.2 PIGGYBACK REGISTRATIONS. Whenever Stores proposes to register any
of its securities under the Securities Act (other than pursuant to a
registration on Form S-4 or S-8 or any successor or similar forms), whether or
not for sale for its own account, Stores will give prompt written notice to all
holders of Registrable Securities of its intention to effect such a registration
and will include in such registration all Registrable Securities with respect to
which Stores has received written requests for inclusion therein within 15 days
after the receipt of Stores' notice. All registrations requested pursuant to
this Section 6.2 are referred to herein as Piggyback Registrations.

         6.3 PRIORITY ON PRIMARY PIGGYBACK REGISTRATIONS. If a Piggyback
Registration is an underwritten primary registration on behalf of Stores, and
the managing underwriters advise Stores in writing (with a copy to each party
hereto requesting registration of Registrable Securities) that in their opinion
the number of securities requested to be included in such registration exceeds
the number which can be sold in such offering without adversely affecting the
marketability of such offering, Stores will include in such registration (i)
first, the securities Stores proposes to sell, and (ii) second, the Registrable
Securities and any other securities requested to be included in such
registration, pro rata among the holders of such Registrable Securities and such
other securities on the basis of the number of shares that each holder has
requested to be included in such registration.

         6.4 PRIORITY ON SECONDARY PIGGYBACK REGISTRATIONS. If a Piggyback
Registration is an underwritten secondary registration on behalf of holders of
Stores' securities other than holders of Registrable Securities, and the
managing underwriters advise Stores in writing that in their opinion the number
of securities requested to be included in such registration exceeds the number
which can be sold in such offering without adversely affecting the marketability
of the offering, Stores will include in such registration (i) first, the
Registrable Securities and any other securities requested to be included in such
registration, pro rata among the holders of such Registrable Securities and such
other securities on the basis of the number of shares that each holder has
requested to be included in such registration, and (ii) second, any securities
Stores proposes to sell.

         6.5 OTHER REGISTRATIONS. If Stores has previously filed a registration
statement with respect to Registrable Securities, and if such previous
registration has not been withdrawn or abandoned, Stores will not file or cause
to be effected any other registration of any of its equity securities or
securities convertible or exchangeable into or exercisable for its equity
securities under the Securities Act (except on Form S-4 or S-8 or any successor
forms), whether on its own behalf or at the request of any holder or holders of
such securities, until a period of at least 3 months has elapsed from the
effective date of such previous registration.

                                       8
<PAGE>   9

         6.6 REGISTRATION PROCEDURES. Whenever the holders of Registrable
Securities have requested that any Registrable Securities be registered pursuant
to this Article 6, except as otherwise required by Section 6.1, Stores will use
its best efforts to effect the registration and the sale of such Registrable
Securities in accordance with the intended method of disposition thereof and
pursuant thereto Stores will as expeditiously as possible:

             (a)   prepare and file with the Securities and Exchange Commission
                   (the "Commission") a registration statement with respect to
                   such Registrable Securities and thereafter use its best
                   efforts to cause such registration statement to become
                   effective (provided that before filing a registration
                   statement or prospectus or any amendments or supplements
                   thereto, Stores will furnish to the counsel selected by the
                   holders of a majority of the Registrable Securities covered
                   by such registration statement copies of all such documents
                   proposed to be filed, which documents will be subject to the
                   review of such counsel);

             (b)   prepare and file with the Commission such amendments and
                   supplements to such registration statement and the prospectus
                   used in connection therewith as may be necessary to keep such
                   registration statement effective for a period of either (i)
                   not less than six months (subject to extension pursuant to
                   Section 6.11(b)) or, if such registration statement relates
                   to an underwritten offering, such longer period as in the
                   opinion of counsel for the underwriters a prospectus is
                   required by law to be delivered in connection with sales of
                   Registrable Securities by an underwriter or dealer, or (ii)
                   such shorter period as will terminate when all of the
                   securities covered by such registration statement have been
                   disposed of in accordance with the intended methods of
                   disposition by the seller or sellers thereof set forth in
                   such registration statement (but in any event not before the
                   expiration of any longer period required under the Securities
                   Act), and to comply with the provisions of the Securities Act
                   with respect to the disposition of all securities covered by
                   such registration statement until such time as all of such
                   securities have been disposed of in accordance with the
                   intended methods of disposition by the seller or sellers
                   thereof set forth in the registration statement;

             (c)   furnish to each seller of Registrable Securities such number
                   of copies of such registration statement, each amendment and
                   supplement thereto, the prospectus included in such
                   registration statement (including each preliminary
                   prospectus) and such other documents as such seller may
                   reasonably request in order to facilitate the disposition of
                   the Registrable Securities owned by such seller;

             (d)   use its best efforts to register or qualify such Registrable
                   Securities under such other securities or blue sky laws of
                   such jurisdictions as any seller reasonably requests and do
                   any and all other acts and things which may be reasonably
                   necessary or advisable to enable such seller to consummate

                                       9
<PAGE>   10

                   the disposition in such jurisdictions of the Registrable
                   Securities owned by such seller; provided, however, that
                   Stores will not be required to (i) qualify generally to do
                   business in any jurisdiction where it would not otherwise be
                   required to qualify but for this subparagraph, (ii) subject
                   itself to taxation in any such jurisdiction or (iii) consent
                   to general service of process in any such jurisdiction;

             (e)   notify each seller of such Registrable Securities, at any
                   time when a prospectus relating thereto is required to be
                   delivered under the Securities Act, upon discovery that, or
                   upon the discovery of the happening of any event as a result
                   of which, the prospectus included in such registration
                   statement contains an untrue statement of a material fact or
                   omits any fact necessary to make the statements therein not
                   misleading in the light of the circumstances under which they
                   were made, and, at the request of any such seller, Stores
                   will prepare and furnish to such seller a reasonable number
                   of copies of a supplement or amendment to such prospectus so
                   that, as thereafter delivered to the purchasers of such
                   Registrable Securities, such prospectus will not contain an
                   untrue statement of a material fact or omit to state any fact
                   necessary to make the statements therein not misleading in
                   the light of the circumstances under which they were made;

             (f)   cause all such Registrable Securities to be listed on each
                   securities exchange on which similar securities issued by
                   Stores are then listed and, if not so listed, to be listed on
                   a national securities exchange or over-the-counter market
                   such as the NASD automated quotation system and, if listed on
                   the NASD automated quotation system, use its best efforts to
                   secure designation of all such Registrable Securities covered
                   by such registration statement as a NASDAQ "national market
                   system security" within the meaning of Rule 11Aa2-1
                   promulgated under the Exchange Act or, failing that, to
                   secure NASDAQ authorization for such Registrable Securities
                   and, without limiting the generality of the foregoing, to
                   arrange for at least two market makers to register as such
                   with respect to such Registrable Securities with the NASD;

             (g)   provide a transfer agent and registrar for all such
                   Registrable Securities not later than the effective date of
                   such registration statement;

             (h)   enter into such customary agreements (including underwriting
                   agreements in customary form) and take all such other actions
                   as the holders of a majority of the Registrable Securities
                   being sold or the underwriters, if any, reasonably request in
                   order to expedite or facilitate the disposition of such
                   Registrable Securities (including, without limitation,
                   effecting a stock split or a combination of Common Shares);

             (i)   make available for inspection by any seller of Registrable
                   Securities, any underwriter participating in any disposition
                   pursuant to such registration

                                       10
<PAGE>   11

                   statement and any attorney, accountant or other agent
                   retained by any such seller or underwriter, all financial and
                   other records, pertinent corporate documents and properties
                   of Stores, and cause Stores' officers, directors, employees
                   and independent accountants to supply all information
                   reasonably requested by any such seller, underwriter,
                   attorney, accountant or agent in connection with such
                   registration statement;

             (j)   otherwise use its best efforts to comply with all applicable
                   rules and regulations of the Commission;

             (k)   permit any holder of Registrable Securities which holder, in
                   its sole and exclusive judgment, might be deemed to be an
                   underwriter or a controlling person of Stores, to participate
                   in the preparation of such registration or comparable
                   statement and to require the insertion therein of material,
                   furnished to Stores in writing, which in the reasonable
                   judgment of such holder and its counsel should be included;

             (l)   in the event of the issuance of any stop order suspending the
                   effectiveness of a registration statement, or of any order
                   suspending or preventing the use of any related prospectus or
                   suspending the qualification of any Common Shares included in
                   such registration statement for sale in any jurisdiction,
                   Stores will use its reasonable best efforts promptly to
                   obtain the withdrawal of such order;

             (m)   obtain a comfort letter, dated the effective date of such
                   registration statement (and, if such registration includes an
                   underwritten public offering, dated the date of the closing
                   under the underwriting agreement), signed by Stores'
                   independent public accountants, in customary form and
                   covering such matters of the type customarily covered by
                   comfort letters as the holders of a majority of the
                   Registrable Securities being sold reasonably request; and

             (n)   provide a legal opinion of Stores' outside counsel addressed
                   to each holder (in form or substance satisfactory to each
                   such holder and its counsel) of Registrable Securities
                   included in such registration, dated the effective date of
                   such registration statement (and, if such registration
                   includes an underwritten public offering, dated the date of
                   the closing under the underwriting agreement), with respect
                   to the registration statement, each amendment and supplement
                   thereto, the prospectus included therein (including the
                   preliminary prospectus) and such other documents relating
                   thereto in customary form and covering such matters of the
                   type customarily covered by legal opinions of such nature.

         6.7 REGISTRATION EXPENSES.

                                       11
<PAGE>   12

         Stores will pay all expenses incident to Stores' performance of or
compliance with this Article 6, including, without limitation, all registration
and filing fees, fees and expenses of compliance with securities or blue sky
laws, listing fees, printing expenses, messenger and delivery expenses, and fees
and disbursements of counsel for Stores and all independent certified public
accountants, underwriters (excluding discounts and commissions) and all other
Persons retained by Stores (all such expenses being collectively referred to
herein as Registration Expenses). To the extent Registration Expenses are not
required to be paid by Stores, each holder of securities included in any
registration hereunder will pay those Registration Expenses allocable to the
registration of such holder's securities so included, and any Registration
Expenses not so allocable will be borne by all sellers of securities included in
such registration in proportion to the aggregate selling price of the securities
to be so registered.

         6.8 INDEMNIFICATION.

             (a) Stores agrees to indemnify and hold harmless, to the extent
permitted by law, each holder of Registrable Securities, its officers and
directors and each Person who controls such holder (within the meaning of the
Securities Act) against any losses, claims, damages, liabilities, joint or
several, to which such holder or any such director or officer or controlling
person may become subject under the Securities Act or otherwise, insofar as such
losses, claims, damages or liabilities (or actions or proceedings, whether
commenced or threatened, in respect thereof) arise out of or are based upon (i)
any untrue or alleged untrue statement of material fact contained (A) in any
registration statement, prospectus or preliminary prospectus or any amendment
thereof or (B) in any application or other document or communication (in this
Section 6.8 collectively called an "application") executed by or on behalf of
Stores or based upon written information furnished by or on behalf of Stores or
based upon written information furnished by or on behalf of Stores filed in any
jurisdiction in order to qualify any securities covered by such registration
statement under the "blue sky" or securities laws thereof, or (ii) any omission
or alleged omission of a material fact required to be stated therein or
necessary to make the statements therein not misleading, and Stores will
reimburse such holder and each such director, officer and controlling person for
any legal or any other expenses incurred by them in connection with
investigating or defending any such loss, claim, liability, action or
proceeding; provided, however, that Stores will not be liable in any such case
to the extent that any such loss, claim, damage, liability (or action or
proceeding in respect thereof) or expense arises out of or is based upon an
untrue statement or omission made in such registration statement, any such
prospectus or preliminary prospectus or any amendment or supplement thereto, or
in any application, in reliance upon, and in conformity with, written
information prepared and furnished to Stores by such holder expressly for use
therein or by such holder's failure to deliver a copy of the prospectus or any
amendments or supplements thereto after Stores has furnished such holder with a
sufficient number of copies of the same. In connection with an underwritten
offering, Stores will indemnify such underwriters, their officers and directors
and each Person who controls such underwriters (within the meaning of the
Securities Act) to the same extent as provided above with respect to the
indemnification of the holders of Registrable Securities.

             (b) In connection with any registration statement in which a holder
of Registrable Securities is participating, each such holder will furnish to
Stores in writing such information and affidavits as Stores reasonably requests
for use in connection with any such registration statement or

                                       12
<PAGE>   13

prospectus and, to the extent permitted by law, will indemnify and hold harmless
Stores, its directors and officers and each other Person who controls Stores
(within the meaning of the Securities Act) against any losses, claims, damages,
liabilities, to which such holder or any such director or officer or controlling
person may become subject under the Securities Act or otherwise, to the extent
that such losses, claims, damages or liabilities (or actions or proceedings,
whether commenced or threatened, in respect thereof) result from (i) any untrue
statement of material fact contained in the registration statement, prospectus
or preliminary prospectus or any amendment thereof or supplement thereto or in
any application or (ii) any omission of a material fact required to be stated
therein or necessary to make the statements therein not misleading, but only to
the extent that such untrue statement or omission is made in such registration
statement, any such prospectus or preliminary prospectus or any amendment or
supplement thereto, or in any application, in reliance upon and in conformity
with written information prepared and furnished to Stores by such holder
expressly for use therein; provided, however, that the obligation to indemnify
will be individual to each holder and will be limited to the net amount of
proceeds received by such holder from the sale of Registrable Securities
pursuant to such registration statement.

             (c) Any Person entitled to indemnification hereunder will (i) give
prompt written notice to the indemnifying party of any claim with respect to
which it seeks indemnification and (ii) unless in such indemnified party's
reasonable judgment a conflict of interest between such indemnified and
indemnifying parties may exist with respect to such claim, permit such
indemnifying party to assume the defense of such claim with counsel reasonably
satisfactory to the indemnified party. If such defense is assumed, the
indemnifying party will not be subject to any liability for any settlement made
by the indemnified party without its consent (but such consent will not be
unreasonably withheld). An indemnifying party who is not entitled to, or elects
not to, assume the defense of a claim will not be obligated to pay the fees and
expenses of more than one counsel for all parties indemnified by such
indemnifying party with respect to such claim, unless in the reasonable judgment
of any indemnified party a conflict of interest may exist between such
indemnified party and any other of such indemnified parties with respect to such
claim.

             (d) The indemnification provided for under this Section 6.8 will
remain in full force and effect regardless of any investigation made by or on
behalf of the indemnified party or any officer, director or controlling Person
of such indemnified party and will survive the transfer of securities. Stores
also agrees to make such provisions, as are reasonably requested by any
indemnified party, for contribution to such party in the event the Stores'
indemnification is unavailable for any reason.

         6.9 PARTICIPATION IN UNDERWRITTEN REGISTRATIONS.

             (a) No Person may participate in any registration hereunder which
is underwritten unless such Person (i) agrees to sell such Person's securities
on the basis provided in any underwriting arrangements approved by the Person or
Persons entitled hereunder to approve such arrangements (including, without
limitation, pursuant to the terms of any over-allotment or "green shoe" option
requested by the managing underwriter(s), except that no holder of Registrable
Securities will be required to sell more than the number of Registrable
Securities that such holder has requested Stores to include in any registration)
and (ii) completes and executes all questionnaires,

                                       13
<PAGE>   14

powers of attorney, indemnities, underwriting agreements and other documents
reasonably required under the terms of such underwriting arrangements; provided
that no holder of Registrable Securities included in any underwritten
registration will be required to make any representations or warranties to
Stores or the underwriters other than representations and warranties regarding
such holder and such holder's intended method of distribution.

              (b) Each Person that is participating in any registration
hereunder agrees that, upon receipt of any notice from Stores of the happening
of any event of the kind described in Section 6.6(e) above, such Person will
forthwith discontinue the disposition of its Registrable Securities pursuant to
the registration statement until such Person's receipt of the copies of a
supplemented or amended prospectus as contemplated by such Section 6.6(e). In
the event Stores will give any such notice, the applicable time period mentioned
in Section 6.6(b) during which a registration statement is to remain effective
will be extended by the number of days during the period from and including the
date of the giving of such notice pursuant to this Section 6.9(b) to and
including the date when each seller of a Registrable Security covered by such
registration statement will have received the copies of the supplemented or
amended prospectus contemplated by Section 6.6(e).

         6.10 CURRENT PUBLIC INFORMATION. Stores will file all reports required
to be filed by it under the Securities Act and the Exchange Act and the rules
and regulations adopted by the Commission thereunder, and will take such further
action as any holder or holders of Registrable Securities may reasonably
request, all to the extent required to enable such holders to sell Registrable
Securities pursuant to (i) Rule 144 promulgated under the Securities Act (as
such rule may be amended from time to time) or any similar rule or regulation
hereafter adopted by the Commission or (ii) a registration statement on Form S-2
or S-3 or any similar registration form hereafter adopted by the Commission.
Upon request, Stores shall deliver to any holder of Registrable Securities a
written statement as to whether it has complied with such requirements.

         7.   MISCELLANEOUS.

         7.1  SUCCESSORS AND ASSIGNS. This Agreement shall inure to the benefit
of and be enforceable by the Lenders and/or any Holder and their respective
heirs, executors, successors and permitted assigns. Stores may not assign any of
its rights or obligations hereunder without the written consent of the Lenders
and/or Holders. In addition, and whether or not any express assignment will have
been made, the provisions of this Warrant which are for the benefit of the
holders of any Registrable Securities (or any portion thereof) as such will be
for the benefit of and enforceable by any subsequent holder of any Registrable
Securities (or of such portion thereof).

         7.2  GOVERNING LAW; JURISDICTION; WAIVER OF JURY TRIAL. This Agreement,
including the validity hereof and the rights and obligations of the parties
hereunder, and all amendments and supplements hereof and all waivers and
consents hereunder, shall be construed in accordance with and governed by the
domestic substantive laws of the State of Ohio without giving effect to any
choice of law or conflicts of law provision or rule that would cause the
application of the domestic substantive laws of any other jurisdiction. Each of
the parties hereto, to the extent that it may lawfully do so, hereby consents to
service of process, and to be sued, in the State of Ohio and consents to the
jurisdiction of the courts of the State of Ohio and the United States District
Court for

                                       14
<PAGE>   15

the Northern District of Ohio, as well as to the jurisdiction of all courts to
which an appeal may be taken from such courts, for the purpose of any suit,
action or other proceeding arising out of any of its obligations hereunder or
with respect to the transactions contemplated hereby, and expressly waives any
and all objections it may have as to venue in any such courts. Each of the
parties hereto further agrees that a summons and complaint commencing an action
or proceeding in any of such courts shall be properly served and shall confer
personal jurisdiction if served personally or by certified mail (return receipt
requested) in accordance with Section 6.4 or as otherwise provided under the
laws of the State of Ohio. EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES ALL
RIGHT TO A TRIAL BY JURY IN ANY SUIT, ACTION OR OTHER PROCEEDING INSTITUTED BY
OR AGAINST IT IN RESPECT OF ITS OBLIGATIONS HEREUNDER OR THE TRANSACTIONS
CONTEMPLATED HEREBY.

         7.3 AMENDMENTS. The parties may, from time to time, enter into written
amendments, supplements or modifications hereto for the purpose of adding any
provisions to this Warrant or changing in any manner the rights of either of the
parties hereunder. No amendment, supplement or modification shall be binding on
either party unless made in writing and signed by a duly authorized
representative of each party. Notwithstanding anything else in this Section 7.3,
the provisions of Article 6 of this Warrant may be amended or waived only upon
the prior written consent of Stores and the holders of a two-thirds (2/3rds)
majority of the Registrable Securities.

         7.4 NOTICES. Any notice or other communication to be given by any party
to any other party under this Agreement shall be in writing and shall be deemed
given when personally delivered, twenty-four (24) hours after being sent by
standard form of telecommunications, or thirty-six (36) hours after being sent
by Federal Express or other overnight courier service providing delivery
confirmation, or five (5) days after mailing by certified mail, postage prepaid,
address as follows:

         (a) if to Stores to:

                Mazel Stores, Inc.
                31000 Aurora Road
                Solon, Ohio 44139
                Attn: President

         (b) if to Lenders to care of Agent:

                The Provident Bank
                1111 Superior Avenue
                Cleveland, Ohio 44114-2522
                Attn: William L. Huffman, Jr.

Either party may from time to time give to the other party notice by certified
mail or overnight delivery service of other addresses to which communications to
such party shall be sent, in which event, notices to such parties shall
thereafter be sent by hand delivery, telecommunications, overnight courier
service or certified mail to such other address.

                                       15
<PAGE>   16

         7.5 NO IMPLIED WAIVER; RIGHTS ARE CUMULATIVE. The failure to exercise
or the delay in exercising by either party of any right, remedy, power or
privilege under this Warrant, shall not operate as a waiver thereof. The single
or partial exercise of any right, remedy, power or privilege under this Warrant
shall not preclude any other or further exercise thereof or the exercise of any
other right, remedy, power or privilege. The rights, remedies, powers and
privileges herein provided are cumulative and not exclusive of any rights,
remedies, powers and privileges provided by law.

         7.6 SEVERABILITY. If any provision of this Warrant is found to be
unenforceable for any reason whatsoever, such provision shall be deemed null and
void to the extent of such unenforceability but shall be deemed separable from
and shall not invalidate any other provision of this Warrant.

         7.7 NO INCONSISTENT AGREEMENTS. Stores will not hereafter enter into
any agreement with respect to its securities which is inconsistent with or
violates the rights granted to the holders of Registrable Securities in this
Warrant.

         7.8 REMEDIES. The parties hereto agree and acknowledge that money
damages may not be an adequate remedy for any breach of the provisions of this
Warrant and that any party hereto will have the right to injunctive relief, in
addition to all of its other rights and remedies at law or in equity, to enforce
the provisions of this Warrant.

         7.9 ENTIRE AGREEMENT. This Warrant constitutes the entire understanding
of the parties with respect to the subject matter hereof and supersedes all
prior discussions, agreements and representations, whether oral or written,
concerning the subject matter hereof.

         7.10 COUNTERPARTS. This Warrant may be executed in two or more
counterparts, any one of which need not contain the signatures of more than one
party, but all such counterparts taken together will constitute one and the same
Warrant.

            [The balance of this page is intentionally left blank.]

                                       16
<PAGE>   17

       EFFECTIVE as of the date first above written.

AGENT,
LETTER OF CREDIT LENDER, AND
LENDER:

         THE PROVIDENT BANK

By:
       ----------------------------
         William L. Huffman, Jr.
         Vice President

LENDER:                                  LENDER:

       NATIONAL CITY BANK                   LASALLE BANK
                                            NATIONAL ASSOCIATION

By:                                      By:
    -------------------------------          --------------------------------
       Patrick Pastore                      Henry J. Munez
       Vice President                       Assistant Vice President

STORES:

       MAZEL STORES, INC.,
       a Delaware corporation

By:
   ---------------------------
Name:
      ------------------------
Its:
     -------------------------

                                       17
<PAGE>   18

                         EXHIBIT A TO WARRANT AGREEMENT

                  [To be signed only upon exercise of Warrant]

To: MAZEL STORES, INC.

         The undersigned Holder pursuant to that certain Warrant Agreement dated
___________, 2001 by and between Mazel Stores, Inc. and the other parties
thereto, hereby irrevocably elects to exercise the purchase right represented by
such Warrant, and to purchase thereunder, __________ Common Shares, no par
value, of Mazel Stores, Inc., and herewith makes payment of $__________
therefor, and requests that certificates for such shares be issued in the name
of, and be delivered to, _____________________________________________________,
whose address is _____________________________________________________________.

Dated:_________________               _____________________________________
           Name

                                       18
<PAGE>   19

                         EXHIBIT B TO WARRANT AGREEMENT

                              Notice of Assignment

         FOR VALUE RECEIVED, the undersigned registered holder of the within
Warrant hereby sells, assigns and transfer unto _______________________________,
whose address is ____________________________________________, all of the rights
of the undersigned under the within Warrant, with respect to _______ Common
Shares of Mazel Stores, Inc., and if such Common Shares shall not include all
the Warrant Shares issuable as provided in the within Warrant, requests that a
new Warrant of like tenor for the number of Warrant Shares not being transferred
hereunder be issued in the name of and delivered to [choose one] (a) the
undersigned, or (b) ______________________________, whose address is
__________________________________, and does hereby irrevocably constitute and
appoint __________________________ my Attorney-in-Fact to register such transfer
on the books of Mazel Stores, Inc. maintained for the purpose, with full power
of substitution in the premises.

Date:_____________________

                                              By:____________________________
                                              [Registered Holder]

                                       19

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