EXECUTION COPY
FOURTH AMENDMENT
made as of the 30th day of October, 1999
to
ROAD DEVELOPMENT AGREEMENT
made as of the 10th day of January, 1997
by and among
STATE OF NEW JERSEY
AND
SOUTH JERSEY TRANSPORTATION AUTHORITY
AND
AC HOLDING CORP.
Exhibit 10.72
FOURTH AMENDMENT TO ROAD DEVELOPMENT AGREEMENT ("Fourth
Amendment") made as of the 30th day of October, 1999, by and
among the STATE OF NEW JERSEY, acting through the Department
of Transportation, 0000 Xxxxxxx Xxxxxx, XX 000, Xxxxxxx, Xxx
Xxxxxx 00000-0000 (the "State"), the SOUTH JERSEY
TRANSPORTATION AUTHORITY, a public body having an office at
Xxxxxx Xxxxxxx Xxxxx, X.X. Xxx 000, Xxxxxxxxx, Xxx Xxxxxx
00000 ("SJTA") and AC HOLDING CORP., a Nevada corporation,
having an office and place of business at 0000 Xxxxx
Xxxxxxxxxx Xxxx, Xxx Xxxxx, Xxxxxx 00000 ("Developer").
W I T N E S S E T H:
WHEREAS, as of January 10, 1997 the State, SJTA and
Mirage Resorts, Incorporated ("MRI"), as "Developer",
executed and delivered a Road Development Agreement which
agreement (the "Original Agreement") was, by a first
amendment thereto made as of July 31, 1997, a Second
Amendment thereto made as of October 10, 1997 and an Amended
and Restated Third Amendment thereto made as of February 1,
1999 thereafter amended (said Original Agreement, as so
amended, the "Agreement"); and
WHEREAS, concurrently with the execution and delivery
of the Original Agreement, pursuant to Section 13.1 thereof,
MRI assigned all of its right, title and interest in and to
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the Original Agreement to Atlandia Design and Furnishings
Inc. ("Atlandia"), which assumed the obligations of the
assignor thereunder; and
WHEREAS, as of December 1, 1998, pursuant to Section
13.1 of the Agreement, Atlandia assigned all of its right,
title and interest in and to the Agreement to Developer,
which assumed the obligations of assignor thereunder; and
WHEREAS, the State, SJTA and Developer have determined
that it is necessary and, pursuant to the provisions of
N.J.S.A. 27:1A-5, 27:7-21 and 27:25A-23 that it is in the
public interest, to amend further the Agreement as
hereinafter provided.
NOW, THEREFORE, IT IS AGREED AS FOLLOWS:
1. Definitions.
1.1 All terms, the initial letters of which are
capitalized and not otherwise defined in this Fourth
Amendment, shall have the respective meanings ascribed to
them in the Agreement.
2. Amendment of Article 12 (Termination).
2.1 Sections 12.1.10 and 12.2.8 of Article 12
(Termination) of the Agreement are each hereby amended by
deleting the date "October 31, 1999" and replacing it with
the date "October 31, 2000".
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3. Miscellaneous.
3.1 This Fourth Amendment may not be modified, except
by an instrument in writing signed by the State, SJTA and
the Developer, and shall be binding on the parties, their
successors and assigns, but shall not enure to the benefit
of any other Person.
3.2 This Fourth Amendment may be executed in any
number of counterparts, by manual or by facsimile signature,
all of which counterparts together shall constitute a single
instrument.
3.3 Except as amended by this Fourth Amendment, all of
the terms, covenants and conditions of the Agreement shall
continue in full force and effect.
[SIGNATURE PAGE FOLLOWS]
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IN WITNESS WHEREOF, the parties hereto have caused this
Fourth Amendment to be executed as of the date first set
forth above by their duly authorized representatives.
STATE OF NEW JERSEY
BY: DEPARTMENT OF TRANSPORTATION
XXXXXX X. XXXXXXX
By: ____________________________
Xxxxxx X. Xxxxxxx
Chief of Staff
SOUTH JERSEY TRANSPORTATION
AUTHORITY
XXXXX X. XXXXXXXX
By: ____________________________
Xxxxx X. Xxxxxxxx
Executive Director
AC HOLDING CORP.
XXXXXXX X. XXXX
By: ____________________________
Xxxxxxx X. Xxxx
Secretary
THIS DOCUMENT HAS BEEN REVIEWED
AND APPROVED AS TO FORM.
XXXX X. XXXXXX, XX.
ATTORNEY GENERAL OF NEW JERSEY
XXXXX X. XXXX
By: ___________________________
Assistant Attorney General
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