EXHIBIT 10.37
STATE OF MISSISSIPPI
COUNTY OF XXXXXXXX
SECOND JUDICIAL DISTRICT
AMENDMENT TO LEASE
This agreement is entered into this 26th day of February, 1999, by and
between Biloxi Casino Corp. ("Biloxi") and Xxxx Xxxxxxx, Xxxxx Xxxxxxx and
Xxxxxx Xxxxxxx (the "Gollotts"). Hereinafter, Gollotts and Biloxi may be
referred to collectively as "Parties."
WHEREAS, on November 23, 1992, Biloxi and the Gollotts entered into an
agreement whereby Biloxi agreed to lease a thirty (30) foot by three hundred
(300) foot parcel of real property located south of U.S. Highway 90 in Biloxi,
Mississippi (the document shall hereinafter be referred to as the "Lease" and
the land subject to the Lease as the "Leasehold Estate"); and
WHEREAS, on December 31, 1997, the Gollotts through an agreement with
Secretary of State Xxxx Xxxxx in his capacity as Trustee of the Public Trust
Tidelands, confirmed the ownership of the Gollotts to a certain parcel of land
abutting the Leasehold Estate ("Confirmed Parcels'); and
WHEREAS, a portion of the Confirmed Parcels were previously leased by
Biloxi from the State of Mississippi through Secretary of State Xxxxx and not
from the Gollotts; and
WHEREAS, the Confirmed Parcels are described on Exhibit A; and
WHEREAS, the Parties now desire to amend the Lease by added the Confirmed
Parcels to the Leasehold Estate and by providing for an additional lease payment
from Biloxi to the Gollotts.
NOW, THEREFORE, in consideration of the mutual promises and agreements set
forth herein, the sufficiency of which is acknowledged by the Gollotts and
Biloxi, the Parties agree as follows:
1. The above recitals are true and each is hereby incorporated as if
fully set forth herein.
2. The Lease shall be amended only as follows:
(i) The Confirmed Parcel shall be added to the Leasehold Estate;
(ii) Commencing in June 1998, Biloxi shall pay the Gollotts annually
the sum of $3,000 as and for the lease of the Confirmed Parcel,
with such sum to be adjusted annually by the CPI.
(iii) The Gollotts, through the term of the Lease, agree to execute
any and all documents relating to the Leasehold Estate that may
be required by Biloxi or its affiliates in conjunction with any
third party business transaction, including but not limited to
estoppel certificates and landlord consents required for any
loans with Bank of America, so long as the execution of any such
document does not subordinate title to the Leasehold Estate or
the right of the Gollotts to receive any lease payment
therefore.
3. Other than as amended herein and except for provision 33 therein, all
provisions of the Lease shall remain in full force and effect.
Biloxi Casino Corp.
/s/ Xxxx Xxxxxxx /s/ Xxxxxx X. Xxxxxxxx
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Xxxx Xxxxxxx
/s/ Xxxxx Xxxxxxx Secretary
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Xxxxx Xxxxxxx Title
/s/ Xxxxxx Xxxxxxx
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Xxxxxx Xxxxxxx
