Amendment to Option Agreement between Jacobs Entertainment, Inc. and Sycamore & Main, Inc.
Jacobs Entertainment, Inc. and Sycamore & Main, Inc. have agreed to extend the option period under their original 2006 agreement for leasing property at the Nautica Entertainment Complex in Cleveland, Ohio. The amendment extends the tenant's option to lease the property by two years, now expiring on July 11, 2012. All other terms of the original agreement remain unchanged and are reaffirmed by both parties.
EXHIBIT 10.13B
AMENDMENT TO OPTION AGREEMENT
This AMENDMENT TO OPTION AGREEMENT (the “Amendment”) is made as of July 6, 2010 by and between Jacobs Entertainment, Inc., a Delaware corporation (“Tenant”) and Sycamore & Main, Inc., an Ohio corporation (“Landlord”).
| 1. | Original Agreement: Tenant and Landlord previously executed that certain Option Agreement dated July 11, 2006 (the “Original Agreement”) for the lease of certain property on the west bank of the Cuyahoga River in Cleveland, Ohio forming part of the parking lot of the Nautica Entertainment Complex. | ||||
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| 2. | Purpose: The purpose of this Amendment is to (a) extend the Option Period (as defined in the Original Agreement) granted to Tenant an additional two years on the same terms and conditions as in the Original Agreement and (b) ratify, affirm and restate (except to the extent modified herein) the Original Agreement as set forth below. | ||||
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| 3. | Extension of Option: The Option Period shall be extended to July 11, 2012. | ||||
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| 4. | Remaining Terms: Except as set forth in Section 3 of this Amendment, all other terms and provisions of the Original Agreement are hereby ratified and affirmed and restated as if set out word for word herein. | ||||
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| TENANT |
| LANDLORD | ||
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| Jacobs Entertainment, Inc. |
| Sycamore & Main, Inc. | ||
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| By: | /s/ Stanley Politano |
| By: | /s/ David C. Grunenwald |
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| Stanley Politano |
| David C. Grunenwald | ||
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| Executive Vice President |
| Vice President of Development/Leasing | ||
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| By: | /s/ Patrick J. McKinley | |
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| Patrick J. McKinley | ||
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| Executive Vice President | ||
