<SEC-DOCUMENT>0001437749-13-013812.txt : 20131104
<SEC-HEADER>0001437749-13-013812.hdr.sgml : 20131104
<ACCEPTANCE-DATETIME>20131104160147
ACCESSION NUMBER:		0001437749-13-013812
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20131030
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20131104
DATE AS OF CHANGE:		20131104

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LAKES ENTERTAINMENT INC
		CENTRAL INDEX KEY:			0001071255
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION [7990]
		IRS NUMBER:				411913991
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24993
		FILM NUMBER:		131189122

	BUSINESS ADDRESS:	
		STREET 1:		130 CHESHIERE LANE
		CITY:			MINNETONKA
		STATE:			MN
		ZIP:			55305
		BUSINESS PHONE:		6124499092

	MAIL ADDRESS:	
		STREET 1:		130 CHESHIRE LANE
		CITY:			MINNETONKA
		STATE:			MN
		ZIP:			55305

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LAKES GAMING INC
		DATE OF NAME CHANGE:	19980929
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>laco20131031_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA3><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><B>UNITED STATES</B></FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA4><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><B style="TEXT-TRANSFORM: uppercase">SECURITIES AND EXCHANGE COMMISSION</B></FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA5><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><B style="TEXT-TRANSFORM: uppercase">Washington, D.C. 20549</B></FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA6>&nbsp;</P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA7><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 18pt"><B style="TEXT-TRANSFORM: uppercase">FORM 8-K</B></FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA8>&nbsp;</P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA9><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><B style="TEXT-TRANSFORM: uppercase">CURRENT REPORT</B></FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA10>&nbsp;</P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA11><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</FONT></P>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA101>Date of Report (Date of earliest event reported):</P></TD>
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<P style="TEXT-ALIGN: right; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA102><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">October 30, 2013</FONT></P></TD></TR></TABLE></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA14>&nbsp;</P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA15><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 20pt"><B>Lakes Entertainment, Inc.</B></FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA16>&nbsp;</P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA17><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><B>_____________________________________________</B></FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA18><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">(Exact name of registrant as specified in its charter)</FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA19>&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA20><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
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<P style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA107><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Minnesota</FONT></P></TD>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA108>&nbsp;</P></TD>
<TD style="WIDTH: 20%">
<P style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA109><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">0-24993</FONT></P></TD>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA110>&nbsp;</P></TD>
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<P style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA111><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">41-1913991</FONT></P></TD></TR>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA112>&nbsp;</P></TD>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA113>&nbsp;</P></TD>
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<P style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA117><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">(State or other jurisdiction of </FONT></P></TD>
<TD style="WIDTH: 20%">
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA118>&nbsp;</P></TD>
<TD style="WIDTH: 20%">
<P style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA119><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">(</FONT><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Commission File Number)</FONT></P></TD>
<TD style="WIDTH: 20%">
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA120>&nbsp;</P></TD>
<TD style="WIDTH: 20%">
<P style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA121><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">(IRS Employer</FONT></P></TD></TR>
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<TD style="WIDTH: 20%">
<P style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA122>&nbsp;incorporation)</P></TD>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA123>&nbsp;</P></TD>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA124>&nbsp;</P></TD>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA125>&nbsp;</P></TD>
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<P style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA126><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Identification No.)</FONT></P></TD></TR></TABLE></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA34><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt"><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"></FONT>&nbsp;</P>
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<P style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA127>130 Cheshire Lane, Suite 101, Minnetonka, Minnesota</P></TD>
<TD style="WIDTH: 35%">
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA128>&nbsp;</P></TD>
<TD style="WIDTH: 15%">
<P style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA129>&nbsp;55305</P></TD></TR>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA130>&nbsp;</P></TD>
<TD style="WIDTH: 35%">
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA131>&nbsp;</P></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid; WIDTH: 15%">
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA132>&nbsp;</P></TD></TR>
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<TD style="WIDTH: 50%">
<P style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA133>&nbsp;(Address of principal executive offices)&nbsp;</P></TD>
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<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA134>&nbsp;</P></TD>
<TD style="WIDTH: 15%">
<P style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA135>(Zip Code)</P></TD></TR></TABLE></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt"><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA38><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">
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<P style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA136>&nbsp;Registrant&#8217;s telephone number, including area code:</P></TD>
<TD style="WIDTH: 35%">
<P style="TEXT-ALIGN: right; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA137>(952) 449-9092</P></TD>
<TD style="WIDTH: 10%">&nbsp;</TD></TR></TABLE></FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt"><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA40><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Not Applicable</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA41><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">_________________________________________________</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA42><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">(Former name or former address, if changed since last report)</FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA43>&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA44><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA45><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA46><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">[ &nbsp;] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA47><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">[ &nbsp;] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA48><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">[&nbsp; ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA49><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">[ &nbsp;] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA50><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><B></B></FONT></P>
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<DIV style="TEXT-ALIGN: left; WIDTH: 100%" id=PGHDR139 >&nbsp;</DIV></DIV>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA139.2>&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt"><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><B>Item 1.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Entry into a Material Definitive Agreement. </B></FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA54>&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id=PARA55><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On October 30, 2013, Lakes Entertainment, Inc. (&#8220;<B>Lakes</B>&#8221;) and Evitts Resort, LLC, a wholly owned subsidiary of Lakes (&#8220;<B>Evitts</B>&#8221;) entered into a Change of Terms Agreement (&#8220;<B>Agreement</B>&#8221;) with Centennial Bank (&#8220;<B>Centennial</B>&#8221;) relating to the Construction Loan Agreement (&#8220;<B>Loan Agreement</B>&#8221;) by and between Evitts and Centennial dated December 17, 2012. The Agreement, which is effective on November 1, 2013, reduced the interest rate from 10.5% to 5.5%, modified the draw requirements for the remaining amount of the loan, and amortized repayment of the loan over 84 months. Evitts currently has borrowed $13,446,718.54 under the Loan Agreement and has $4,053,281.46 of credit available under the Loan Agreement, which may be drawn at any time up to December 31, 2018.</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA56><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id=PARA57><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">A copy of the agreement is attached as Exhibit 10.1 to this Current Report on Form 8-K.</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA58><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><B>&nbsp;</B></FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA59><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><B>Item 9.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits.</B></FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA60><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
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<TR>
<TD width=35>&nbsp;</TD>
<TD style="VERTICAL-ALIGN: top" width=31>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0pt" id=PARA63><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">(a)</FONT></P></TD>
<TD style="VERTICAL-ALIGN: top" width=1165>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0pt" id=PARA64><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Not Applicable</FONT></P></TD></TR></TABLE>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA65>&nbsp;</P>
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<TR>
<TD width=35>&nbsp;</TD>
<TD style="VERTICAL-ALIGN: top" width=30>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0pt" id=PARA68><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">(b)</FONT></P></TD>
<TD style="VERTICAL-ALIGN: top" width=1166>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0pt" id=PARA69><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Not Applicable</FONT></P></TD></TR></TABLE>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA70>&nbsp;</P>
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<TR>
<TD width=35>&nbsp;</TD>
<TD style="VERTICAL-ALIGN: top" width=31>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0pt" id=PARA73><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">(c)</FONT></P></TD>
<TD style="VERTICAL-ALIGN: top" width=1165>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0pt" id=PARA74><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Not Applicable</FONT></P></TD></TR></TABLE>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA75>&nbsp;</P>
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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-RIGHT: 0pt" id=PARA79><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Exhibit</FONT></P></TD></TR></TABLE>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA80>&nbsp;</P>
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<TD style="VERTICAL-ALIGN: top" width=31>10.1</TD>
<TD style="VERTICAL-ALIGN: top" width=1165>Change in Terms Agreement by and between Evitts Resort, LLC, Lakes Entertainment, Inc., and Centennial Bank dated November 1, 2013<FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">.</FONT></TD></TR></TABLE></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA80>&nbsp;<FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;&nbsp;&nbsp;</FONT><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA83><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><B>SIGNATURES</B></FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA84><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id=PARA85><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</FONT>&nbsp;</P>
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<TD vAlign=top width="50%"><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&nbsp;</FONT></TD>
<TD vAlign=top width="38%" colSpan=2><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><FONT size=+0><FONT style="FONT-VARIANT: small-caps; FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">LAKES ENTERTAINMENT, INC.</FONT></FONT></FONT></TD>
<TD vAlign=top width="12%"><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&nbsp;</FONT></TD></TR>
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<TD vAlign=top width="50%"><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&nbsp;</FONT></TD>
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<P style="LINE-HEIGHT: 1.25; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA88><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">(Registrant)</FONT></P></FONT></TD>
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<TD vAlign=top width="12%">&nbsp;</TD></TR>
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<TD vAlign=top width="12%">&nbsp;</TD></TR>
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<TD vAlign=top width="50%"><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&nbsp;</FONT></TD>
<TD vAlign=top width="3%"><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&nbsp;</FONT></TD>
<TD vAlign=bottom width="35%" noWrap align=left><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&nbsp;&nbsp;</FONT></TD>
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<TD style="BORDER-BOTTOM: #ffffff solid; TEXT-ALIGN: left" vAlign=top width="50%" align=left><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Date: November 4, 2013 </FONT></TD>
<TD style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" vAlign=top colSpan=2><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"></FONT><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">/s/ Timothy J. Cope</FONT></TD>
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<TD vAlign=top colSpan=2><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"></FONT><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Name: Timothy J. Cope</FONT></TD>
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<TD vAlign=top colSpan=2><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"></FONT><FONT style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Title: President and Chief Financial Officer </FONT></TD>
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<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA89><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P></BODY></HTML>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>2
<FILENAME>ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P style="TEXT-ALIGN: right; MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA124><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><B></B></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: right; MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><B>Exhibit 10.1</B></FONT></P>
<P style="TEXT-ALIGN: left; MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA125><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA1><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><B>CHANGE IN TERMS AGREEMENT</B></FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA2><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id=PARA3><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">THIS CHANGE IN TERMS AGREEMENT ("Agreement") is dated as of the 1<SUP>st</SUP> day of November, 2013 and is executed by and among EVITTS RESORT, LLC (the &#8220;Borrower&#8221;); LAKES ENTERTAINMENT, INC. (the &#8220;Guarantor&#8221;); and CENTENNIAL BANK (the "Lender").</FONT></P>
<P style="LINE-HEIGHT: 1.25; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA5>&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id=PARA6><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">WHEREAS, Borrower executed and delivered to Lender on or about December 17, 2012 that certain $17,500,000 Secured Construction Promissory Note (the "Promissory Note"); Guarantor delivered that certain Unconditional Guaranty of even date therewith (the &#8220;Guaranty&#8221;); and Borrower and Guarantor delivered other documents related to the foregoing, referenced in the foregoing or otherwise applicable to the subject transaction (said documents, along with the Promissory Note, the Guaranty, and all documents describing or securing the obligations therein, including any and all prior amendments not specifically superseded hereby, being collectively referred to herein as the "Loan Documents"); and</FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA7>&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id=PARA8><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">WHEREAS, the Borrower and Guarantor have requested that the Lender modify and amend the payment terms that are applicable to the Loan Documents, and the Lender is willing to accommodate the Borrower;</FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA9>&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id=PARA10><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">NOW, THEREFORE, for and in consideration of the mutual covenants and conditions that are referenced and exchanged herein, and for other good and valuable consideration, the parties hereto, intending to be legally bound hereby, covenant and agree as follows: </FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA11>&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id=PARA12><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Amendment of Interest Rate.</U> The definition of &#8220;Interest Rate&#8221; and all other references set forth in the Loan Documents as rate of interest at which Borrower&#8217;s obligations thereunder shall accrue is hereby modified and amended to mean FIVE AND ONE-HALF PERCENT (5.50%).</FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA13>&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id=PARA14><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Principal Advances</U>. The Loan Documents are hereby modified and amended to provide that, until December 31, 2018, and provided that that no Event of Default has occurred and is continuing and notwithstanding any other conditions to advance contained in the Loan Documents, Borrower shall be entitled to receive Advances of principal thereunder upon Lender&#8217;s receipt of a completed application for advance and such other information reasonably requested by Lender; provided, however, that Borrower will not be entitled to request, and Lender will not, under any circumstances, be obligated to advance additional principal amounts in excess of $4,053,281.46. </FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA15>&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id=PARA16><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Amendment of Required Payments of Principal and Interest:</U> The Promissory Note is hereby modified and amended to provide as follows:</FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA17>&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id=PARA18><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&#8220;<U>Required Payments of Principal and Interest</U>. Borrower shall pay interest and principal to Lender as follows:</FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA19>&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt 0pt 0pt 36pt" id=PARA20><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Monthly Principal and Interest Payments Prior to Maturity</U>. Borrower shall pay to Lender on the 1<SUP>st</SUP> day of December, 2013 and on the same day of each month thereafter until the Maturity Date, a sum equal to $193,720.74 or such other equal installments of principal and interest, calculated at the Interest Rate and based upon the actual number of days elapsed at a daily rate based on a 360-day year, that will suffice to fully amortize the principal amount advanced hereunder over a period of EIGHTY-FOUR (84) MONTHS, it being recognized, understood and agreed that said sum shall be applied to Lender Expenses, interest and principal as provided in 3(c) below. THIS CALCULATION METHOD WILL RESULT IN A HIGHER EFFECTIVE INTEREST RATE THAN THE NUMERIC INTEREST RATE STATED IN THIS PROMISSORY NOTE.</FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA21>&nbsp;&nbsp;</P>
<DIV style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" id=PGBK126 >
<DIV style="TEXT-ALIGN: center; WIDTH: 100%" id=PGFTR126 >&nbsp;</DIV>
<DIV style="TEXT-ALIGN: center; WIDTH: 100%; FONT-SIZE: 10pt" id=PGNUM126 >1</DIV>
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<DIV style="TEXT-ALIGN: left; WIDTH: 100%" id=PGHDR126 >&nbsp;</DIV></DIV>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA126.2>&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt 0pt 0pt 36pt" id=PARA22><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payments Due at Maturity</U>. If not previously paid, any and all unpaid principal and accrued but unpaid interest plus any other sums due hereunder shall be immediately due and payable on the Maturity Date. This Promissory Note is also subject to acceleration as set forth below. </FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA23>&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt 0pt 0pt 36pt" id=PARA24><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Application of Payments Received by Lender</U>. All payments received by Lender from Borrower hereunder shall be applied first to Lender Expenses, then to interest due hereunder, then to principal due hereunder, then to late fees, or, upon the occurrence and continuation of an Event of Default, at the option of the holder, to any other indebtedness owed by Borrower or its affiliates to Lender or its successor, assigns or affiliates.&#8221; </FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA25>&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id=PARA26><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>General Amendment</U>. In addition, all other provisions of the Loan Documents are hereby modified and amended so as to be consistent with the amendments set forth herein. </FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA27>&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id=PARA28><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Ratification and Reaffirmation of Debt</U>. Borrower and Guarantor do each hereby certify, represent, warrant and affirm to Lender the following, it being understood that such certifications and representations constitute and comprise material assurances upon which Lender is basing its decision to provide the accommodations referenced herein:</FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA29>&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt 0pt 0pt 36pt" id=PARA30><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Borrower and Guarantor hereby ratify and reaffirm all of Borrower's and Guarantors&#8217; financial and other obligations of every nature that are set forth and contained in the Loan Documents;</FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA31>&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt 0pt 0pt 36pt" id=PARA32><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Borrower and Guarantor agree and acknowledge that all Loan Documents are legal, valid and binding financial obligations that are enforceable against Borrower or Guarantors as applicable, in accordance with their terms;</FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA33>&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt 0pt 0pt 36pt" id=PARA34><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Borrower and Guarantor agree and acknowledge that, as of the date of this Agreement, Lender has advanced to Borrower $13,446,718.54 plus accrued interest and that the Borrower has $4,053,281.46 of credit available to be advanced until December 31, 2018 pursuant thereto;</FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA35>&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt 0pt 0pt 36pt" id=PARA36><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">d.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Borrower and Guarantor each agree and acknowledge that, with respect to any amounts advanced under the Loan Documents as of the date of this Agreement, they have no defenses to their payment and performance obligations that are set forth in the Loan Documents and that Borrower's or Guarantor&#8217;s default under the Loan Documents will entitle Lender to receive, without contest by Borrower or Guarantor, a judgment against Borrower or Guarantor and the right to foreclose, without contest by Borrower or Guarantor, its liens and security interests that are contained in the Loan Documents; </FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA37>&nbsp;&nbsp;</P>
<DIV style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" id=PGBK127 >
<DIV style="TEXT-ALIGN: center; WIDTH: 100%" id=PGFTR127 >&nbsp;</DIV>
<DIV style="TEXT-ALIGN: center; WIDTH: 100%; FONT-SIZE: 10pt" id=PGNUM127 >2</DIV>
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<DIV style="TEXT-ALIGN: left; WIDTH: 100%" id=PGHDR127 >&nbsp;</DIV></DIV>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA127.2>&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt 0pt 0pt 36pt" id=PARA38><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">e.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Borrower and Guarantor agree and acknowledge that, with respect to any amounts advanced under the Loan Documents as of the date of this Agreement, they possess no claims, counterclaims, defenses or offset rights of any nature against Lender or its affiliates, including any that would prohibit the Lender from enforcing its rights and remedies under the Loan Documents and, to the extent such a claim, right or defense might exist, Borrower and Guarantor each hereby release and waive each claim, right or defense in its entirety;</FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA39>&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt 0pt 0pt 36pt" id=PARA40><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">f.&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;Borrower and Guarantor acknowledge that the Lender has fully performed all of its obligations as set forth in the Loan Documents;</FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA41>&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt 0pt 0pt 36pt" id=PARA42><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">g.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Borrower and Guarantor agree and acknowledge that the priority of the liens created by the mortgage and the other Loan Documents in favor of the Lender to secure the performance of Borrower&#8217;s obligations under the Loan Documents shall not be disturbed or lost by the execution and performance of this Agreement; </FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA43>&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt 0pt 0pt 36pt" id=PARA44><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">h.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Borrower and Guarantor agree and acknowledge that (i) Lender has not represented (either by express agreement, course of performance or otherwise) that it will agree to further modifications or amendments to the Loan, including without limitation, renewals, extensions, rate reductions or changes in the repayment schedule; (ii) Lender has no obligation to make such further modifications or amendments; and (iii) in the formulation and execution of its business plan, Borrower is not relying on the Lender agreeing to such modifications or amendments; and</FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA45>&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt 0pt 0pt 36pt" id=PARA46><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">i.&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;No waiver by Lender of any default or breach by Borrower or Guarantor under the Loan Documents shall be implied from any omission by Lender to take, or any delay in taking, action on account of such default other than the default expressly made the subject of the waiver and any such express waiver shall be operative only for the time and to the extent therein stated. Any waiver of any covenant, term or condition contained in the Loan Documents shall not be construed as a waiver of any subsequent breach of the same covenant, term or condition. The consent or approval by Lender to, or of, any act by Borrower or Guarantor shall not be deemed to waive or render unnecessary the consent or approval to, or of, any subsequent similar act.</FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA47>&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id=PARA48><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Indemnification</U>. [Intentionally omitted]. </FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA49>&nbsp;</P>
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<DIV style="TEXT-ALIGN: center; WIDTH: 100%; FONT-SIZE: 10pt" id=PGNUM128 >3</DIV>
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<DIV style="TEXT-ALIGN: left; WIDTH: 100%" id=PGHDR128 >&nbsp;</DIV></DIV>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA128.2>&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id=PARA50><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Miscellaneous</U>. This Agreement and the Loan Documents constitute the entire understanding and agreement between the undersigned parties with respect to the transactions arising in connection with the Loan and supersede all prior written or oral understandings and agreements between the undersigned parties in connection therewith and except for the modification specifically set forth herein the Loan Documents shall remain in full force and effect. Neither this Agreement, nor the Loan Documents may be orally modified but may be amended only by written agreements executed by the original parties to said documents. Jurisdiction and venue associated with the enforcement of Lender's rights and remedies hereunder and pursuant to the Loan Documents shall be vested solely and exclusively in an appropriate court of competent jurisdiction located in Faulkner County, Arkansas. Borrower waives Borrower's right to a jury trial of any issues arising in connection with the enforcement of this Agreement or the Loan Documents. It is expressly agreed and understood that this Agreement may be executed in multiple counterparts and with multiple signature pages and that all signature pages, when attached to and assembled with this document, shall constitute and comprise a single document that is enforceable against all parties on all signature pages in accordance with this Agreement&#8217;s terms. </FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA52><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt"><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">[<I>This Space Intentionally Left Blank; Signatures to Follow</I>]</FONT></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA53>&nbsp;</P>
<DIV style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" id=PGBK129 >
<DIV style="TEXT-ALIGN: center; WIDTH: 100%" id=PGFTR129 >&nbsp;</DIV>
<DIV style="TEXT-ALIGN: center; WIDTH: 100%; FONT-SIZE: 10pt" id=PGNUM129 >4</DIV>
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<DIV style="TEXT-ALIGN: left; WIDTH: 100%" id=PGHDR129 >&nbsp;</DIV></DIV>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA129.2>&nbsp;</P><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt"><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">[<I>Signatures to Change In Terms Agreement</I>]</FONT></P></FONT>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt"><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt"><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">THIS CHANGE IN TERMS AGREEMENT has been executed as of the date set forth in the preface. </FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA56><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 216pt" id=PARA57><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&#8220;BORROWER&#8221;</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 216pt">&nbsp;</P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 216pt" id=PARA58><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">EVITTS RESORT, LLC</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 216pt" id=PARA59><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 216pt" id=PARA60><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">By: ____/s/ Timothy Cope___________________</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 216pt" id=PARA61><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 216pt" id=PARA62><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Title: ____President________________________</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 53.8%" id=PARA63><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 53.8%" id=PARA64><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 216pt; MARGIN: 0pt" id=PARA65><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&#8220;GUARANTOR&#8221;</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 216pt; MARGIN: 0pt" id=PARA66><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 216pt" id=PARA67><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">LAKES ENTERTAINMENT, INC.</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 216pt" id=PARA68><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 216pt" id=PARA69><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">By: ____/s/ Timothy Cope___________________</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 216pt" id=PARA70><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 216pt" id=PARA71><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Title: ___President_________________________</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 216pt" id=PARA72><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA73><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 53.8%" id=PARA74><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 216pt" id=PARA75><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&#8220;LENDER&#8221;</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 216pt" id=PARA76><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 216pt" id=PARA77><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">CENTENNIAL BANK </FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 216pt" id=PARA78><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 216pt" id=PARA79><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">By: ___/s/ Randy Crowell____________________</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 216pt" id=PARA80><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 216pt" id=PARA81><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Title: ___Senior Vice President________________</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA82><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<DIV style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" id=PGBK83 >
<DIV style="TEXT-ALIGN: center; WIDTH: 100%" id=PGFTR83 >&nbsp;</DIV>
<DIV style="TEXT-ALIGN: center; WIDTH: 100%; FONT-SIZE: 10pt" id=PGNUM83 >5</DIV>
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<DIV style="TEXT-ALIGN: left; WIDTH: 100%" id=PGHDR83 >&nbsp;</DIV></DIV>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA83.2>&nbsp;</P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt 5.75pt 0pt 0pt" id=PARA84><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><U>ACKNOWLEDGMENT</U></FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt 5.75pt 0pt 0pt" id=PARA85><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt 5.75pt 0pt 0pt" id=PARA86><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">STATE OF Minnesota</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt 5.75pt 0pt 0pt">&nbsp;</P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA87><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">COUNTY OF Hennepin</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt">&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id=PARA88><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Personally appeared before me, the undersigned authority in and for the said county and state, on this 29 day of October, 2013, within my jurisdiction, the within-named Timothy Cope, who acknowledged that he is the President of Evitts Resort, LLC (the &#8220;Company&#8221;) and that, for and on behalf of the said Company and as its act and deed, he executed the above and foregoing instrument after first having been duly authorized by said Company to do so.</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id=PARA89><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt">
<TABLE style="TEXT-INDENT: 0px; WIDTH: 100%; FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"  cellSpacing=0 cellPadding=0>

<TR>
<TD style="WIDTH: 50%">
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA130>&nbsp;</P></TD>
<TD style="WIDTH: 50%">
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA131><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">__/s/ Lisa M. Jolicoeur________________</FONT></P>
<P style="LINE-HEIGHT: 1.25; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA91><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Notary Public</FONT></P></TD></TR></TABLE></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA92>&nbsp;</P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt 5.75pt 0pt 0pt" id=PARA93><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt 5.75pt 0pt 0pt" id=PARA94><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">My commission expires:<BR>___1/31/15_______________</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt 5.75pt 0pt 0pt" id=PARA95><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt 5.75pt 0pt 0pt" id=PARA96><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt 5.75pt 0pt 0pt" id=PARA97><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><U>ACKNOWLEDGMENT</U></FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt 5.75pt 0pt 0pt" id=PARA98><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt 5.75pt 0pt 0pt" id=PARA99><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">STATE OF Minnesota</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt 5.75pt 0pt 0pt">&nbsp;</P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA100><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">COUNTY OF Hennepin</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt">&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id=PARA101><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Personally appeared before me, the undersigned authority in and for the said county and state, on this 29 day of October, 2013, within my jurisdiction, the within-named Timothy Cope, who acknowledged that he is the President of Lakes Entertainment, Inc. (the &#8220;Company&#8221;) and that, for and on behalf of the said Company and as its act and deed, he executed the above and foregoing instrument after first having been duly authorized by said Company to do so.</FONT><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt">&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt">
<TABLE style="TEXT-INDENT: 0px; WIDTH: 100%; FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"  cellSpacing=0 cellPadding=0>

<TR>
<TD style="WIDTH: 50%">
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA130>&nbsp;</P></TD>
<TD style="WIDTH: 50%">
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA131><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">__/s/ Lisa M. Jolicoeur________________</FONT></P>
<P style="LINE-HEIGHT: 1.25; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA91><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Notary Public</FONT></P></TD></TR></TABLE></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA92>&nbsp;</P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA105>&nbsp;</P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt 5.75pt 0pt 0pt" id=PARA107><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">My commission expires:<BR>____1/31/15_______________</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt 5.75pt 0pt 0pt" id=PARA108><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<DIV style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" id=PGBK111 >
<DIV style="TEXT-ALIGN: center; WIDTH: 100%" id=PGFTR111 >&nbsp;</DIV>
<DIV style="TEXT-ALIGN: center; WIDTH: 100%; FONT-SIZE: 10pt" id=PGNUM111 >6</DIV>
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<DIV style="TEXT-ALIGN: left; WIDTH: 100%" id=PGHDR111 >&nbsp;</DIV></DIV>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" id=PARA111.2>&nbsp;</P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt 5.75pt 0pt 0pt" id=PARA112><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt 5.75pt 0pt 0pt" id=PARA113><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><U>ACKNOWLEDGMENT</U></FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt 5.75pt 0pt 0pt" id=PARA114><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt 5.75pt 0pt 0pt" id=PARA115><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">STATE OF ARKANSAS</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt 5.75pt 0pt 0pt">&nbsp;</P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id=PARA116><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">COUNTY OF Faulkner</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt">&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id=PARA117><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Personally appeared before me, the undersigned authority in and for the said county and state, on this 1 day of November, 2013, within my jurisdiction, the within-named Randy Crowell, who acknowledged that he / she is the SVP of Centennial Bank (the &#8220;Company&#8221;), and that, for and on behalf of the said Company and as its act and deed, he / she executed the above and foregoing instrument after first having been duly authorized by said Company to do so.</FONT><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"></FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 53.8%; MARGIN: 0pt"><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</P>
<P style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt">
<TABLE style="TEXT-INDENT: 0px; WIDTH: 100%; FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"  cellSpacing=0 cellPadding=0>

<TR>
<TD style="WIDTH: 50%">
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA130>&nbsp;</P></TD>
<TD style="WIDTH: 50%"><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">
<P style="LINE-HEIGHT: 1.25; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt"><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">_____/s/ Jeannie Hill_________________</FONT></P>
<P style="LINE-HEIGHT: 1.25; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA91>Notary Public</FONT></P></TD></TR></TABLE></P>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA92>&nbsp;</P></FONT>
<P style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" id=PARA120>&nbsp;</P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt 5.75pt 0pt 0pt" id=PARA121><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">My commission expires:<BR>_____2/6/17______________</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt 5.75pt 0pt 0pt" id=PARA122><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt 5.75pt 0pt 0pt" id=PARA123><FONT style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&nbsp;</FONT></P>
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