Document:

<PAGE>   1
                                                                   EXHIBIT 10.65

                              TRANSITION LOAN NOTE

$7,500,000                                                   July 8, 1999
                                                             Dowagiac, Michigan

     FOR VALUE RECEIVED, The Pokagon Band of Potawatomi Indians (the "Band")
promises to pay to LAKES GAMING, INC., a Minnesota corporation ("Lakes"), such
sums as may be advanced by Lakes to the Band under Section 8.3 of a Development
Agreement between the Band and Lakes dated as of July 8, 1999 (the "Development
Agreement"); provided that the principal amount due hereunder shall not exceed
Seven Million Five Hundred Thousand Dollars ($ 7,500,000.00).

     1. Advances. Advances under this Note may, at Lakes' option, be funded
through transfer of funds from the Escrow Account; provided that interest shall
only accrue under this Note on funds advanced through the Escrow Account after
disbursement from the Escrow Account, and shall not begin to accrue on deposit
by Lakes into the Escrow Account.

     2. Interest. No interest shall accrue on amounts outstanding hereunder
until two years after the date hereof. Beginning on the second annual
anniversary of the date hereof, interest shall begin accruing on the outstanding
balance as follows:

     (a) if the Bank Closing occurs, at a fixed rate equal to the lesser of (i)
     Base Rate as of the Bank Closing plus 1% or (ii) 10% (the "Band Interest
     Rate"); or

     (b) If the Bank Closing does not occur, at a variable rate equal to the
     lesser of (i) Base Rate plus 1% or (ii) 10% (the lesser of (i) and (ii)
     being referred to as the "Variable Interest Rate"). Lakes shall adjust the
     Variable Interest Rate on the then unpaid principal balance, by way of
     increase or decrease, in accordance with changes in the Base Rate. Such
     changes shall be effective as of the change in the Base Rate (the
     "Effective Date").

     If the Bank Closing occurs after the second annual anniversary of the date
hereof, interest accruing under this Note prior to the Bank Closing shall be
adjusted retroactively to reflect the Band Interest Rate. "Base Rate" means the
lowest Prime Rate as is published daily in The Wall Street Journal. In the event
that the Wall Street Journal ceases to publish the Prime Rate, then the holder
hereof may in its reasonable discretion select some other generally recognized
comparable indicator of the national Prime Rate.

<PAGE>   2

     3. Repayment.

     If the Commencement Date occurs, the Band shall, beginning on the 15th day
of the month following the Commencement Date, make equal monthly payments to
Lakes of principal and interest in an amount sufficient to amortize the
principal amount outstanding as of the Commencement Date over a sixty (60) month
period at the Band Interest Rate, and shall thereafter continue to make payments
in such amount on the 15th day of each succeeding month to and including the
fifteenth day of the sixtieth month following the Commencement Date, when all
remaining principal and interest shall be due and payable.

     If the Commencement Date does not occur, principal and interest shall be
repayable to the extent and in the manner provided in the Development Agreement;
provided that payments shall in any event be due and made only from Subsequent
Gaming Facility Revenues, in accordance with the Development Agreement. If
Gaming commences at such a facility and payment is due under this Note in
accordance with the Development Agreement, the Band shall, beginning on the 15th
day of the month following such commencement date, make equal monthly payments
to Lakes of principal and interest in an amount sufficient to amortize the
principal amount outstanding as of such commencement date over a sixty (60)
month period at the Variable Interest Rate, and shall thereafter continue to
make such payments on the 15th day of each succeeding month to and including the
fifteenth day of the sixtieth month following such commencement date, when all
remaining principal and interest shall be due and payable. As of the Effective
Date of a change in the Base Rate, Lakes shall adjust the monthly installments
of principal and interest as of the installment next following the Effective
Date so that the then unpaid principal balance would be amortized in full at the
revised Variable Interest Rate five years after such commencement of gaming.
Lakes shall promptly notify the Band in writing of any changes in the Base Rate
and in the installment payment due.

     4. Prepayment. This Note may be prepaid at any time without penalty.

     5. Limited Recourse. The obligations of the Band under this Note and any
related awards, judgments or decrees shall be payable solely out of
undistributed or future Net Revenues of the Enterprise and shall be a Limited
Recourse obligation of the Band, with no recourse to tribal assets other than
such Net Revenues (except that, if the Commencement Date does not occur, Lakes
shall also have recourse to Subsequent Gaming Facility Revenues to the extent
provided in the Development Agreement). In no

                                      -2-
<PAGE>   3

event shall Lakes or any other claimant under this Note have recourse to (a) the
physical property of the Facility, (b) Tribal Distributions, (c) assets of the
Band purchased with Tribal Distributions, (d) revenues or assets of any other
gaming facility owned or operated by the Band, or (e) any other asset of the
Band (other than (i), if the Commencement Date does not occur, Subsequent Gaming
Facility Revenues to the extent provided in the Development Agreement, and (ii)
such Net Revenues of the Enterprise).

     6. Subordination. Payment of amounts due hereunder shall be subordinated to
the Bank Development Loan, the Equipment Loan and any other third-party loans or
equipment leases to the Band relating to the Facility or, if the Commencement
Date does not occur, or to any loans relating to any other Gaming facility in
Michigan owned by the Band, on such terms as such third party lender shall
reasonably require.

     7. Default; Acceleration. All outstanding principal together with accrued
interest shall become immediately due and payable in full, subject to the
limitations on recourse provided above, upon default in the payment of principal
or interest due under this Note if such default is not remedied within thirty
(30) days after receipt by the Band of written notice thereof as provided in the
Development Agreement.

     8. Sovereign Immunity. The Band expressly waives its sovereign immunity
from suit for the purpose of permitting or compelling arbitration to enforce
this Note as provided in Article 14 of the Development Agreement and consents to
be sued in the United States District Court for the District in which the Gaming
Site is located (or, if the Gaming Site has not been designated, for the Western
District of Michigan - Southern Division), the United States Court of Appeals
for the Sixth Circuit, and the United States Supreme Court for the purpose of
compelling arbitration or enforcing any arbitration award or judgment arising
out of this Note. If the United States District Court lacks jurisdiction, the
Band consents to be sued in the Michigan State Court system for the same limited
purpose. The Band waives any requirement of exhaustion of tribal remedies.
Without in any way limiting the generality of the foregoing, the Band expressly
authorizes any governmental authorities who have the right and duty under
applicable law to take any action authorized or ordered by any such court, and
to take such action, including without limitation, repossessing or foreclosing
on any real property not in trust, or otherwise giving effect to any judgment
entered; provided, however, that liability of the Band under any judgment shall
always be Limited Recourse, and in no instance shall any enforcement of any kind
whatsoever be allowed against any assets of the Band other than (i), if the
Commencement Date does not occur, Subsequent Gaming Facility Revenues to the
extent provided in the Development Agreement, and (ii) Net Revenues of the
Enterprise. The Band appoints the Chairman of the Pokagon Council

                                      -3-
<PAGE>   4

and the Secretary of the Pokagon Council as its agents for service of all
process under or relating to the Agreements. The Band agrees that service in
hand or by certified mail, return receipt requested, shall be effective for all
purposes under or relating to the Agreements if served on such agents.

     9.  Arbitration. All disputes, controversies or claims arising out of or
relating to this Note shall be settled by binding arbitration as provided in
Article 14 of the Development Agreement.

     10. Business Purposes; Applicable Law. This Note evidences a loan for
business and commercial purposes and not for personal, household, family or
agricultural purposes, and shall be governed by the law of the State of Michigan
and, to the extent applicable, federal law.

     11. Defined Terms. Capitalized terms used herein shall have the same
meanings assigned to them in the Development Agreement, and, if not defined in
the Development Agreement, in the Management Agreement between the Band and
Lakes of even date.

     12. Miscellaneous.

         a.  Time is of the essence.

         b. The benefits and obligations of this Note shall inure to and be
         binding upon the parties hereto and their respective successors and
         assigns, provided that any succession or assignment is permitted under
         the Development Agreement.

         c. Waiver of any one default shall not cause or imply a waiver any
         subsequent default.

         d. This Note, together with the Development Agreement, the Management
         Agreement, the Escrow Agreement, the Transition Loan Note and the
         Non-Gaming Land Acquisition Line of Credit the exhibits thereto and all
         related documents of near or even date herewith, sets forth the entire
         agreement between the parties hereto with respect to the subject matter
         hereof. All agreements, covenants, representations, and warranties,
         express or implied, oral or written, of the parties with respect to the
         subject matter hereof are contained herein and therein. This Note shall
         not be supplemented, amended or modified by any course of dealing,
         course of performance or uses of trade and may only be amended or
         modified by a written instrument duly executed by officers of both
         parties.

                                      -4-
<PAGE>   5

                                      THE POKAGON BAND OF POTAWATOMI INDIANS

                                      By: /s/ John Miller
                                         -----------------------------------
                                      Its: Council Chairman

                                      By: /s/ Kevin Daughterty
                                         -----------------------------------
                                      Its: Secretary

                                       -5-<PAGE>   1
                                                              Exhibit 10.66

                            ACCOUNT CONTROL AGREEMENT

PARTIES:

Pokagon Band of Potawatomi Indians ("Band")
Lakes Gaming, Inc. ("Lakes")
Firstar Bank of Minnesota, N.A.  ("Bank")

Background

         Lakes has granted Band a security interest pursuant to a Pledge and
Security Agreement of near or even date (the "Security Agreement") in a
securities account maintained by Bank for Lakes, and in all related property.
The parties are entering into this agreement to perfect Band's security interest
in that account and those assets.

                                    AGREEMENT

1.       The Account.

         Bank represents and warrants to Band that:

         a.       Bank maintains account number (xxxxxxx) (the "Account") for
                  Lakes under the name "Pokagon Collateral Account."

         b.       Lakes has deposited $20,900,000 in the Account, subject to
                  this Control Agreement.

         c.       Lakes shall make such further deposits into the Account as may
                  be required under the Agreements, including without limitation
                  such amounts as are needed to maintain a $2,000,000 balance in
                  the Account in accordance with ss. 8.2 of the Development
                  Agreement.

         d.       Bank does not know of any claim to or interest in the Account,
                  except for claims and interests of the parties referred to in
                  this Agreement.

2.       Definitions.

         a. The following terms shall have the indicated meanings:

         "AWARD" means the award of an arbitrator relating to the Account in an
         arbitration conducted in accordance with Article 14 of the Development
         Agreement.

                                       -1-

<PAGE>   2

         "BAND ACCOUNT" means a bank account in the name of the Band on which
         Lakes does not have signatory authority, which account is designated by
         the Band pursuant to ss. 13(a) of this Agreement to receive transfers
         from the Account on account of the Transition Loan and the Non-Gaming
         Acquisition Line of Credit and $900,000 of the Signing Fee.

         "BAND NOTIFICATION OF EXCLUSIVE CONTROL" means a Band Notification of
         Lakes Default or a Band Notification of Termination.

         "BAND NOTIFICATION OF LAKES DEFAULT" means notification by the Band to
         Bank that (a) a Manager Event of Default or a Lakes Event of Default
         has occurred under the Agreements and is continuing; (b) either (i) the
         time for Lakes to demand arbitration under the Agreements has expired,
         or (ii) Lakes timely demanded arbitration, and the arbitrator's award
         has found that a Manager Event of Default or a Lakes Event of Default
         has occurred; and (c) the Band is entitled to payment of the property
         in the Account to the extent specified therein. The Band Notification
         of Lakes Default shall be in the form attached hereto as Exhibit A.

         "BAND NOTIFICATION OF TERMINATION" means notification by the Band to
         Bank that (a) the Agreements have been terminated; (b) either (i) the
         time for Lakes to demand arbitration under the Agreements has expired,
         or (ii) Lakes timely demanded arbitration, and the arbitrator's award
         has confirmed that termination; and (c) the Band is entitled to payment
         from the property in the Account to the extent specified therein. The
         Band Notification of Termination shall be in the form attached hereto
         as Exhibit B.

         "BAND REPRESENTATIVES" means one or more persons designated by the Band
         in writing to give consents and receive notices on behalf of the Band
         under this Agreement.

         "COURT" means the United States District Court for the District in
         which the Gaming Site is located (or, if the Gaming Site has not been
         designated, for the Western District of Michigan - Southern Division),
         the United States Appeals for the Sixth Circuit, and the United States
         Supreme Court; or if Lakes or the Band delivers to the Bank the written
         opinion of their respective counsel that such federal courts lack
         jurisdiction, the courts of the State of Michigan.

         "DEVELOPMENT AGREEMENT" means the Development Agreement between Lakes
         and Band of even date herewith.

                                       -2-

<PAGE>   3

         "ENTERPRISE ACCOUNT" means a bank account in the name of the Band on
         which Lakes has signatory authority as agent for the Band pursuant to
         the Development Agreement, which account is designated by the Band and
         Lakes pursuant to ss. 13(b) of this Agreement to receive transfers from
         the Account on account of Development Expenditures with regard to the
         Facility or the Enterprise.

         "ENTITLEMENT ORDER" means a notification to Bank from Lakes or the Band
         directing the Bank to transfer or redeem any securities, property, cash
         or other property in the Account.

         "FINAL ORDER" means an order, judgment or decree of a Court entered
         after notice and hearing (a) enjoining transfer of property in the
         Account, or (b) mandating compliance with, or otherwise enforcing, an
         Award, provided that the time for appeal from any such Order has
         expired or, if the Band has taken an appeal from such order, that the
         appeal has been denied and the Order is now final.

         "JOINT NOTICE" means notification by the Band and Lakes to Bank that
         the Account shall be terminated, and directing the Bank to liquidate
         the property in the Account and deliver the proceeds thereof as
         directed in the Joint Notice. The Joint Notice shall be in the form
         attached hereto as Exhibit C.

         "LAKES DRAW REQUEST" means notification by Lakes to the Bank, prior to
         receipt by Bank of a Band Notification, to transfer funds from the
         Account, which notification shall be in the form of Exhibit D-1 (as to
         transfers to the Band Account) or D-2 (as to transfers to the
         Enterprise Account).

         "ORDER" means an order, judgment or decree of a Court entered after
         notice and hearing (a) enjoining transfer of property in the Account,
         or (b) mandating compliance with, or otherwise enforcing, an Award.

         b. Capitalized terms used herein without definition have the meanings
assigned to them in the Development Agreement.

3.       Control by Band.

         Bank will comply with Entitlements Orders as follows:

         a.       Prior to receipt by Bank of a Band Notification of Exclusive
                  Control. Prior to receipt by Bank of a Band Notification of
                  Exclusive Control, Bank shall transfer funds from the Account
                  in accordance with a Lakes Draw Request if

                                       -3-

<PAGE>   4

                  the Band gives its prior written consent to such request. Such
                  consent shall be in the form attached as Exhibit E.

         b.       Joint Notice. After receipt by Bank of a Joint Notice, Bank
                  shall liquidate the property in the Account and transfer the
                  proceeds thereof, and all interest, dividends and other income
                  thereon, in accordance with the directions in such Joint
                  Notice.

         c.       Band Notification of Exclusive Control. After receipt by Bank
                  of a Band Notification of Exclusive Control, Bank shall:

                  i.       immediately cease complying with Entitlement Orders
                           or other directions concerning the Account originated
                           by Lakes, whether pursuant to a Lakes Draw Request or
                           otherwise;

                  ii.      immediately cease purchasing or selling securities in
                           the Account or making any distributions from the
                           Account, except with the prior written consent of
                           Band;

                  iii.     immediately cease distributing to Lakes interest and
                           dividends on property in the Account; and

                  iv.      not less than thirty (30) nor more than forty-five
                           (45) days after receipt by Bank of a Band
                           Notification of Exclusive Control, and unless
                           otherwise enjoined by an Order, liquidate all
                           property in the Account and transfer the proceeds
                           thereof and all interest, dividends and other income
                           thereon to the Band Account, or such other account as
                           the Band may direct in writing.

         d.       Award. Bank shall comply with any Award not less than thirty
                  (30) nor more than forty-five (45) days after receipt by Bank
                  of a copy of the Award, unless enjoined by an Order of Court.

         e.       Order; Final Order. Bank shall comply with any Order or Final
                  Order; provided that Bank shall not distribute property out of
                  the Account without the Band's written consent except pursuant
                  to a Final Order.

4.       Lakes's Rights in Account.

         a.       Until Bank receives a Band Notice of Exclusive Control, Bank
                  may distribute to Lakes all interest and regular cash
                  dividends on property in the Account.

                                      -4-

<PAGE>   5

                  Bank shall not distribute any other property in the Account,
                  including without limitation securities or the proceeds of the
                  sale of any securities, to or at the direction of Lakes except
                  to the extent provided in ss. 3.

         b.       Until Bank receives a Band Notice of Exclusive Control, Lakes
                  may direct the investment of all property in the Account in
                  accordance with ss. 8.2 of the Development Agreement, provided
                  that (a) property in the Account shall not include equities,
                  swaps, derivatives or commodities; (b) no instruments,
                  certificated securities or financial assets, as defined in the
                  Minnesota Uniform Commercial Code, shall be held in the name
                  of Lakes, and all such assets shall be held in the name of the
                  Account; and (c) any cash balances shall be invested in money
                  market or other financial assets, unless needed to make
                  distributions in accordance with this Agreement. Subject to
                  that limitation, Bank may rely conclusively on Lakes'
                  direction as to investment of property in the Account unless
                  and until Bank receives a Band Notice of Exclusive Control.

         c.       Bank will not comply with any Entitlement Order originated by
                  Lakes that would require Bank to violate this Agreement.

5.       Priority of Bank's Security Interest; Bank's Fees and Expenses; No
         Third Party Entitlement Orders.

         a.       Bank subordinates in favor of Band any security interest,
                  lien, or right of setoff it may have, now or in the future,
                  against the Account or property in the Account, except that
                  Bank will retain its prior lien on property in the Account to
                  secure payment for property purchased for the Account, normal
                  commissions and fees for the Account, and its reasonable fees
                  (including attorneys fees) and expenses relating to the
                  Account. Bank is authorized to deduct such commissions, fees
                  and expenses from the Account. To the extent that the property
                  in the Account is not sufficient to pay such commissions, fees
                  and expenses, the Band and Lakes jointly and severally agree
                  to pay such to Bank promptly on demand.

         b.       Bank will not agree with any third party that Bank will comply
                  with Entitlement Orders originated by the third party with
                  regard to the Account or property in the Account.

6.       Statements, Confirmations and Notices of Adverse Claims.

         a.       Bank will send copies of all statements and confirmations for
                  the Account simultaneously to Lakes and Band. Bank will use
                  reasonable efforts promptly

                                      -5-

<PAGE>   6
                  to notify Band and Lakes if any other person claims that it
                  has a property interest in property in the Account and that it
                  is a violation of that person's rights for anyone else to
                  hold, transfer or deal with the property. Bank will also send
                  the Band copies all other communications sent by Bank to Lakes
                  relating to the Account, and shall furnish the Band with such
                  other information concerning the Escrow Account as Band may
                  reasonably request.

         b.       Lakes shall send Band a copy of all communications sent by
                  Lakes to Bank, including without limitation all Lakes Draw
                  Requests; shall inform the Band of the nature and terms of the
                  financial instruments in which the escrowed funds are
                  invested; and shall furnish the Band with such other
                  information concerning the Account as Band may request.

         c.       The Band shall send Lakes a copy of all communications sent by
                  the Band to Bank relating to the Account.

7.       Bank's Responsibility.

         a.       Except for permitting a withdrawal, delivery or payment in
                  violation of ss.ss. 3 or 4, Bank will not be liable to Band
                  for complying with Entitlement Orders from Lakes that are
                  received by Bank before Bank receives a Band Notice of
                  Exclusive Control.

         b.       Bank will not be liable to Lakes for complying with a Band
                  Notice of Exclusive Control or with Entitlement Orders
                  originated by Band after receipt by the Bank of a Band Notice
                  of Exclusive Control, even if Lakes notifies Bank that Band is
                  not legally entitled to issue the Entitlement Order or the
                  Band Notice of Exclusive Control, unless Bank takes the action
                  after it is served with an Award or Order enjoining or
                  prohibiting compliance with an Entitlement Order of the Band,
                  and had a reasonable opportunity to act on the Award or Order.

         c.       Bank shall incur no liability hereunder except for its willful
                  misconduct or gross negligence so long as it shall have acted
                  in good faith.

         d.       In the event that a dispute arises as to the Account, Bank may
                  liquidate the property in the Account and deposit the proceeds
                  thereof with the Clerk of the United States District Court for
                  the Western District of Michigan, Southern Division, and may
                  interplead the parties hereto. Upon so depositing such
                  documents and money and filing its complaint and interpleader,
                  Bank shall be released from all liability under the terms
                  hereof as to the money so deposited.

                                       -6-

<PAGE>   7

         e.       Bank shall have no responsibility for the genuineness or
                  validity of any notices, certificate, securities, documents or
                  other things deposited with it and shall be fully protected in
                  acting in accordance with any written instructions given to it
                  hereunder and reasonably believed by it to have been signed by
                  the proper person, party or parties. Bank can rely
                  conclusively on the opinion of counsel to the Band, or the
                  opinion of its own counsel, as to the expiration of the time
                  for appeal, denial of appeal or finality of an Order; provided
                  that nothing in this Agreement shall waive or impair any
                  claim, if any, of Lakes against counsel issuing such opinion.

         f.       Bank is expressly authorized to comply with and obey any and
                  all Orders and Final Orders relating to the Account, provided
                  that Bank does not distribute property from the Account
                  without the Band's written consent except pursuant to a Final
                  Order; and in case the Bank so obeys or complies with any such
                  Order or Final Order it shall not be liable to any of the
                  parties hereto or to any other person, firm or corporation by
                  reason of such compliance.

         g.       Without limiting the provisions of ss. 7(c) above, the Bank
                  shall not incur any liability for not performing any act or
                  fulfilling any duty, obligation or responsibility hereunder by
                  reason of any occurrence beyond the control of the Bank
                  (including but not limited to any act or provision of any
                  present or future law or regulation or governmental authority,
                  any act of God or war, or the unavailability of the Federal
                  Reserve Bank wire or telex or other wire or communication
                  facility).

         h.       This Agreement does not create any obligation of Bank except
                  for those expressly set forth in this Agreement. In
                  particular, Bank need not investigate whether Band is entitled
                  under Band's agreements with Lakes to give an Entitlement
                  Order or a Band Notice of Exclusive Control.

         i.       The Account shall be maintained in the name of "Pokagon
                  Collateral Account" on the books of the Bank unless the Band
                  otherwise consents in writing.

8.       Termination; Survival.

         a.       Band may terminate this Agreement by notice to Bank and Lakes.
                  Bank may terminate this Agreement on 60 days' notice to Band
                  and Lakes.

         b.       If Band notifies Bank that Band's security interest in the
                  Account has terminated, this Agreement will immediately
                  terminate.

                                       -7-

<PAGE>   8

         c.       Section 7, "Bank's Responsibility," will survive termination
                  of this Agreement.

9.       Financial Assets.

         All property credited to the Account will be treated as financial
assets and investment property under Articles 8 and 9 of the Minnesota Uniform
Commercial Code.

                                      -8-

<PAGE>   9

10.      Successors and Assigns.

         A successor to or assignee of Band's rights and obligations under the
Development Agreement will succeed to Band's rights and obligations under this
Agreement.

11.      Band's Waiver of Sovereign Immunity and Consent to Suit.

         The Band expressly waives its sovereign immunity from suit for the
purpose of permitting or compelling arbitration in disputes under or relating to
this Agreement, and consents to be sued in a Court for the purpose of compelling
arbitration or enforcing any arbitration award or judgment arising out of this
Agreement; provided that such consent is limited to enforcement of awards or
judgments relating to the Band's interest in the Account. If the United States
District Court lacks jurisdiction, the Band consents to be sued in the Michigan
State Court system for the same limited purposes. The Band waives any
requirement of exhaustion of tribal remedies. Without in any way limiting the
generality of the foregoing, the Band expressly authorizes any governmental
authorities who have the right and duty under applicable law to take any action
authorized or ordered by any such court, to give effect to any judgment entered;
provided, however, that in no instance shall enforcement of any kind whatsoever
be allowed against any assets of the Band other than the Band's interest in the
Account.

12.      Notice.

         a.       Except as provided in ss. 12(b), any notice required to be
                  given pursuant to this Agreement shall be delivered to the
                  appropriate party by Certified Mail Return Receipt Requested
                  or by overnight mail or courier service, to the following
                  addresses:

                  If to the Band:

                  Pokagon Band of Potawatomi Indians
                  53237 Townhall Road
                  Dowagiac, MI 49047
                  Attn:  Chairman, Tribal Council

                  with a copy to:

                  S. Eric Marshall, Esq.
                  1318 Mishawaka Avenue
                  South Bend, Indiana 46615

                                       -9-

<PAGE>   10

                  and to:

                  Daniel Amory, Esq.
                  Drummond Woodsum & MacMahon
                  P.O. Box 9781
                  Portland, ME 04104-5081

                  and to:

                  Robert Gips, Esq.
                  Gips and Associates
                  71 Myrtle Avenue, Suite 2000
                  South Portland, ME 04106

                  If to Lakes:

                  Lakes Gaming, Inc.
                  130 Cheshire Lane
                  Minnetonka, MN 55305
                  Telecopy:  612-449-9353

                  with a copy to:

                  Douglas S. Twait, Esq.
                  Johnson Hamilton Quigley Twait & Foley, PLC
                  First National Bank Building
                  Suite W1450
                  Saint Paul, MN 55101-1314

                  if to Bank:

                  Firstar Bank of Minnesota, N.A.
                  101 East Fifth Street
                  St. Paul, MN 55101
                  attn:  Frank P. Leslie
                  Telecopy:  651-229-6415

         b.       Any consent by the Band to a Lakes Draw Request may be sent
                  either as provided in ss. 12(a) or by telecopy addressed to
                  the Bank and Lakes at the telecopy numbers set forth above.
                  Copies of such consents need not be sent to counsel.

                                      -10-

<PAGE>   11

         c.       Any party may change any address or telecopy number by written
                  notice to all parties.

         d.       Any notice shall be deemed given three days following deposit
                  in the United States mail, one day following delivery to an
                  overnight delivery service, on oral confirmation of receipt of
                  a telecopy, or upon actual delivery, whichever first occurs.

13.      Designation of Accounts.

         a.       Band Account.  The Band shall designate the Band Account by
                  written notice to Bank.

         b.       Enterprise Account.  The Band and Lakes shall designate the
                  Enterprise Account by written notice to Bank.

         c.       Change in Account Designations. The Band may change the
                  designation of the Band Account by written notice to Bank and
                  Lakes. The Band and Lakes may change the designation of the
                  Enterprise Account by written notice to Bank.

         d.       Funds Wire Transferred. All transfers from the Account to the
                  Band Account shall be by wire transfer to the accounts
                  designated in this Agreement in accordance with written wire
                  transfer instructions from the Band, subject to change in
                  accordance with ss. 13(c).

14. Action or Consents by Band.

         a.       Any action to be taken by the Band may be taken by the Pokagon
                  Council on behalf of the Band.

         b.       Any consent or other notification to be given by the Band may
                  be given by any Band Representative. Lakes and Bank shall be
                  entitled to rely conclusively upon any written communication
                  signed by a Band Representative.

15.      Arbitration.

         All disputes under or relating to this Agreement shall be subject to
arbitration in accordance with Article 14 of the Development Agreement.

                                      -11-

<PAGE>   12

16.      Miscellaneous.

         a.       This Agreement and the Account will be governed by the
                  internal laws of the State of Minnesota. Bank and Lakes may
                  not change the law governing the Account without Band's
                  express written agreement.

         b.       This Agreement may be modified only by a written amendment
                  signed by all the parties hereto, and no waiver of any
                  provision hereof shall be effective unless expressed in a
                  writing signed by the party to be charged.

         c.       The rights and remedies conferred upon the parties hereto
                  shall be cumulative, and the exercise or waiver of any such
                  right or remedy shall not preclude or inhibit the exercise of
                  any additional rights or remedies. The waiver of any right or
                  remedy hereunder shall not preclude the subsequent exercise of
                  such right or remedy.

         d.       The headings contained in this Agreement are for convenience
                  of reference only and shall have no effect on the
                  interpretation or operation hereof.

         e.       This Agreement may be executed in any number of counterparts,
                  each of which when so executed and delivered shall be deemed
                  to be an original and all of which taken together shall
                  constitute one and the same instrument.

         f.       Lakes agrees to indemnify and hold the Band harmless against
                  all costs, expenses and fees (i) charged by the Bank against
                  the Account on or after a Manager Event of Default, or (ii)
                  which the Band pays Bank under ss. 5(a) of this Agreement.

         g.       All income on property in the Account shall be for the account
                  of Lakes. Lakes certifies that its IRS identification number
                  is 41-1913991, and agrees that income on the property in the
                  Account shall be reported in its name.

         h.       To the extent a provision of this Agreement is unenforceable,
                  this Agreement will be construed as if the unenforceable
                  provision were omitted.

         i.       The parties agree that Bank is a "securities intermediary" for
                  purposes of Articles 8 and 9 of the Uniform Commercial Code,
                  as adopted in Minnesota, and that Minnesota is the "securities
                  intermediary's jurisdiction" for all purposes under those
                  Articles with regard to the Control Agreement.

         j.       This Agreement may be executed in counterparts, all of which
                  together shall constitute one original.

                                      -12-

<PAGE>   13

         Each party acknowledges and agrees to be bound by the instructions and
terms and conditions contained herein.

Dated as of July 8, 1999

THE POKAGON BAND OF POTAWATOMI            LAKES GAMING, INC.
INDIANS

By:   /s/ John Miller                     By:  /s/ Timothy J. Cope
   ---------------------------------         -----------------------------------
Its: Council Chairman                     Its: Chief Financial Officer
                                              ----------------------------------

By:   /s/ Kevin Daugherty
   ---------------------------------
Its: Secretary

FIRSTAR BANK OF MINNESOTA, N.A.

By:   /s/ Illegible
   ---------------------------------
Its:  Vice President

                                      -13-

<PAGE>   14

                                    EXHIBIT A
                       BAND NOTIFICATION OF LAKES DEFAULT

TO:      Firstar Bank of Minnesota, N.A.
         101 East Fifth Street
         St. Paul, MN 55101
         attn:  Frank P. Leslie

         RE:      DEFAULT UNDER CERTAIN AGREEMENTS BY AND BETWEEN THE POKAGON
                  BAND OF THE POTAWATOMI INDIANS (THE "BAND") AND LAKES
                  GAMING, INC. ("LAKES")

Dear Sir:

(Note: Capitalized terms used herein without definition shall have the meanings
assigned to them in a certain Control Agreement (the "Control Agreement") dated
as of July 8, 1999 by and among the Band, Lakes and Firstar Bank of Minnesota,
N.A . ("Bank").)

         Notice is hereby given to you under the Control Agreement that:

         (a)      a Manager Event of Default or a Lakes Event of Default has
                  occurred under the Agreements and is continuing;

         (b)      either

                  (i)      the time for Lakes to demand arbitration under the
                           Agreements has expired, or

                  (ii)     Lakes timely demanded arbitration, and the
                           arbitrator's award has found that a Manager Event of
                           Default or a Lakes Event of Default has occurred; and

         (c)      the Band is entitled to payment of the property in the Account
                  as provided herein.

         You are hereby directed to:

                  i.       immediately cease complying with Entitlement Orders
                           or other directions concerning the Account originated
                           by Lakes, whether pursuant to a Lakes Draw Request or
                           otherwise;

                                       -1-

<PAGE>   15

                  ii.      immediately cease purchasing or selling securities in
                           the Account or making any distributions from the
                           Account, except with the prior written consent of
                           Band;

                  iii.     immediately cease distributing to Lakes interest and
                           dividends on property in the Account; and

                  iv.      not less than thirty (30) nor more than forty-five
                           (45) days after your receipt hereof, and unless
                           otherwise enjoined by an Order, liquidate all
                           property in the Account and transfer the proceeds
                           thereof and all interest, dividends and other income
                           thereon to the following account by wire transfer:

                  Amount:          The entire proceeds of the Account
         (indicate which is
                 applicable)                  or

                                   $
                                    ---------------------------

                  Wire to:

                  Account Number:
                                    ---------------------------
                  Bank:
                                    ---------------------------
                  ABA Number:
                                    ---------------------------
                  Reference:
                                    ---------------------------

Dated:             ,
        -----------  ------                   THE POKAGON BAND OF POTAWATOMI
                                              INDIANS

                                              By:
                                                 ------------------------------
                                              Its: Council Chairman

                                              By:
                                                 ------------------------------
                                              Its: Secretary

                                       -2-

<PAGE>   16

                                    EXHIBIT B
                        BAND NOTIFICATION OF TERMINATION

TO:      Firstar Bank of Minnesota, N.A.
         101 East Fifth Street
         St. Paul, MN 55101
         attn:  Frank P. Leslie

         RE:      TERMINATION OF CERTAIN AGREEMENTS BY AND BETWEEN THE POKAGON
                  BAND OF THE POTAWATOMI INDIANS (THE "BAND") AND LAKES
                  GAMING, INC. ("LAKES")

Dear Sir:

(Note: Capitalized terms used herein without definition shall have the meanings
assigned to them in a certain Control Agreement (the "Control Agreement") dated
as of July 8, 1999 by and among the Band, Lakes and Firstar Bank of Minnesota,
N.A . ("Bank").)

         Notice is hereby given to you under the Control Agreement that:

         (a)      the Agreements have been terminated;

         (b)      either

                  (i)      the time for Lakes to demand arbitration under the
                           Agreements has expired, or

                  (ii)     Lakes timely demanded arbitration, and the
                           arbitrator's award has confirmed that termination;
                           and

         (c)      the Band is entitled to payment of the property in the Account
                  as provided herein.

         You are hereby directed to:

                  i.       immediately cease complying with Entitlement Orders
                           or other directions concerning the Account originated
                           by Lakes, whether pursuant to a Lakes Draw Request or
                           otherwise;

                                       -1-

<PAGE>   17

                  ii.      immediately cease purchasing or selling securities in
                           the Account or making any distributions from the
                           Account, except with the prior written consent of
                           Band;

                  iii.     immediately cease distributing to Lakes interest and
                           dividends on property in the Account; and

                  iv.      not less than thirty (30) nor more than forty-five
                           (45) days after your receipt hereof, and unless
                           otherwise enjoined by an Order, liquidate all
                           property in the Account and transfer the proceeds
                           thereof and all interest, dividends and other income
                           thereon to the following account by wire transfer:

                  Amount:                   The entire proceeds of the Account
         (indicate which is
                 applicable)                               or

                                            $
                                              -------------------------------

                  Wire to:

                  Account Number:
                                    ---------------------------
                  Bank:
                                    ---------------------------
                  ABA Number:
                                    ---------------------------
                  Reference:
                                    ---------------------------

Dated:             ,
        -----------  ------                   THE POKAGON BAND OF POTAWATOMI
                                              INDIANS

                                              By:
                                                 ------------------------------
                                              Its: Council Chairman

                                              By:
                                                 ------------------------------
                                              Its: Secretary

                                       -2-

<PAGE>   18

                                    EXHIBIT C
                                  JOINT NOTICE

To:      Firstar Bank of Minnesota, N.A.
         101 East Fifth Street
         St. Paul, MN 55101
         attn:  Frank P. Leslie

         RE:      JOINT NOTICE OF TERMINATION OF CERTAIN AGREEMENTS BY AND
                  BETWEEN THE POKAGON BAND OF THE POTAWATOMI INDIANS (THE
                  "BAND") AND LAKES GAMING, INC. ("LAKES")

(Note: Capitalized terms used herein without definition shall have the meanings
assigned to them in a certain Control Agreement (the "Control Agreement") dated
as of July 8, 1999 by and among the Band, Lakes and Firstar Bank of Minnesota,
N.A. ("Bank").)

Dear Sir:

         Notice is hereby given to you that the Agreements have been terminated.

         You are hereby directed to liquidate all property in the Account and
transfer the proceeds as follows:

                  1.       $                  of said proceeds shall be
                            -----------------
                           transferred to the following account by wire
                           transfer:

                           Account Number:
                                             ---------------------------
                           Bank:
                                             ---------------------------
                           ABA Number:
                                             ---------------------------
                           Reference:
                                             ---------------------------

                  2.       $                  of said proceeds shall be
                            -----------------
                           transferred to the following account by wire
                           transfer:

                           Account Number:
                                             ---------------------------
                           Bank:
                                             ---------------------------
                           ABA Number:
                                             ---------------------------
                           Reference:
                                             ---------------------------

                                       -1-

<PAGE>   19

Dated:             ,
        -----------  ------

THE POKAGON BAND OF POTAWATOMI               LAKES GAMING, INC.
INDIANS

By:                                          By:
   ------------------------------               ----------------------------
Its: Council Chairman                        Its:
                                                 ---------------------------

By:
   ------------------------------
Its: Secretary

                                       -2-

<PAGE>   20

                                   EXHIBIT D-1
                 LAKES DRAW REQUEST (TRANSFERS TO BAND ACCOUNT)

To:      Firstar Bank of Minnesota, N.A.
         101 East Fifth Street
         St. Paul, MN 55101
         attn:  Frank P. Leslie

         RE:      DRAW BY LAKES GAMING, INC., UNDER CONTROL AGREEMENT

Dear Sir:

(Note: Capitalized terms used herein without definition shall have the meanings
assigned to them in a certain Control Agreement (the "Control Agreement") dated
as of July 8, 1999 by and among the Band, Lakes and Firstar Bank of Minnesota,
N.A . ("Bank").)

         Pursuant to ss. 3(a) of the Control Agreement, you are hereby directed
to wire transfer, as soon as is practicable after receipt of the Consent of the
Band, but within not more than two business days after your receipt thereof, the
following sum:

         $
          -----------------

from the Account to the Band Account as designated by the Band pursuant to ss.
13(a) of the Control Agreement.

Dated:             ,
        -----------  ------

                                          LAKES GAMING, INC.

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

                                       -1-

<PAGE>   21

                                   EXHIBIT D-2
              LAKES DRAW REQUEST (TRANSFERS TO ENTERPRISE ACCOUNT)

To:      Firstar Bank of Minnesota, N.A.
         101 East Fifth Street
         St. Paul, MN 55101
         attn:  Frank P. Leslie

         RE:      DRAW BY LAKES GAMING, INC., UNDER CONTROL AGREEMENT

Dear Sir:

(Note: Capitalized terms used herein without definition shall have the meanings
assigned to them in a certain Control Agreement (the "Control Agreement") dated
as of July 8, 1999 by and among the Band, Lakes and Firstar Bank of Minnesota,
N.A . ("Bank").)

         Pursuant to ss. 3(a) of the Control Agreement, you are hereby directed
to wire transfer, as soon as is practicable after receipt of the Consent of the
Band, but within not more than two business days after your receipt thereof, the
following sum:

         $
          ---------------

from the Account to the Enterprise Account as designated by the Band and Lakes
pursuant to ss. 13(b) of the Control Agreement.

Dated:             ,
        -----------  ------

                                           LAKES GAMING, INC.

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

                                       -1-

<PAGE>   22

                                    EXHIBIT E
                       BAND CONSENT TO LAKES DRAW REQUEST

To:      Firstar Bank of Minnesota, N.A.
         101 East Fifth Street
         St. Paul, MN 55101
         attn:  Frank P. Leslie

         RE:      BAND CONSENT TO DRAW BY LAKES GAMING, INC., UNDER CONTROL
                  AGREEMENT

Dear Sir:

(Note: Capitalized terms used herein without definition shall have the meanings
assigned to them in a certain Control Agreement (the "Control Agreement") dated
as of July 8, 1999 by and among the Band, Lakes and Firstar Bank of Minnesota,
N.A . ("Bank").)

         Pursuant to ss. 3(a) of the Control Agreement, you are hereby notified
that the Band consents to the Draw by Lakes dated                        , a
copy of which is attached.

Dated:
      -------------------------

                                     ------------------------------------

                         Print name:
                                     ------------------------------------
                                     Band Representative, duly authorized

                                       -1-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00004-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00004-of-00352.parquet"}]]