Security Agreement Amendment between Colonial Holdings, Inc. and Wells Fargo Bank Minnesota, N.A. (June 4, 2003)
This amendment to a security agreement, dated June 4, 2003, is between Colonial Holdings, Inc. (as Pledgor) and Wells Fargo Bank Minnesota, National Association (as Trustee). It adds membership interests in Colonial Downs, LLC as pledged collateral to secure obligations under the original security agreement. The amendment ensures that these interests are now part of the assets securing the loan or obligations, with Colonial Holdings, Inc. pledging 100% of its membership interests in Colonial Downs, LLC. The agreement is effective upon signing by both parties.
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EXHIBIT 4.39
SECURITY AGREEMENT AMENDMENT
This Security Pledge Amendment, dated as of June 4, 2003, is delivered pursuant to Section 6.1 of that certain security agreement (as amended, amended and restated, supplemented or otherwise modified from time to time, the "Security Agreement"; capitalized terms used but not otherwise defined herein shall have the meanings assigned to such terms in the Security Agreement), dated as of February 8, 2002, among Jacobs Entertainment, Inc. (formerly known as Gameco, Inc. the "Issuer"), the undersigned (by Joinder Agreement dated June 14, 2002), the other Guarantors from time to time party thereto and Wells Fargo Bank Minnesota, National Association, as Trustee (in such capacity and together with any successors in such capacity, the "Trustee"). The undersigned hereby agrees that this Pledge Amendment may be attached to the Security Agreement and that the Pledged Securities listed on this Pledge Amendment shall be deemed to be and shall become part of the Pledged Collateral and shall secure all Secured Obligations.
PLEDGED SECURITIES
| ISSUER | TYPE OF INTEREST | CERTIFICATE NO(S). | NUMBER OF SHARES | PERCENTAGE OF ALL ISSUED CAPITAL OR OTHER EQUITY INTERESTS OF ISSUER | |||||
|---|---|---|---|---|---|---|---|---|---|
| Colonial Downs, LLC | Membership Interests | 1 | n/a | 100 | % |
COLONIAL HOLDINGS, INC., as Pledgor | ||||
By: | /s/ IAN M. STEWART Ian M. Stewart, President | |||
AGREED TO AND ACCEPTED: WELLS FARGO BANK MINNESOTA, NATIONAL ASSOCIATION, as Trustee | ||||
By: Name: | ||||
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