EXHIBIT 10.35
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 G&W Enterprises, Inc. ("G&W").
Hereinafter, G&W and Biloxi may be referred to collectively as "Parties."
WHEREAS, on April 4, 1992, Biloxi and G&W entered into an agreement whereby
Biloxi agreed to lease approximately 4.2 acres 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 April 3, 1998, G&W through an agreement with Secretary of State
Xxxx Xxxxx in his capacity as Trustee of the Public Trust Tidelands, confirmed
the ownership of G&W to certain parcels 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 G&W; 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 G&W.
NOW, THEREFORE, in consideration of the mutual promises and agreements set
forth herein, the sufficiency of which is acknowledged by G&W 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 Parcels shall be added to the Leasehold Estate;
(ii) Commencing in June 1998, Biloxi shall pay G&W annually the sum
of $44,000 as and for the lease of the Confirmed Parcels, with
such sum to be adjusted annually by the CPI.
(iii) G&W, through the term of the Lease, agrees 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 G&W 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.
G&W Enterprises Biloxi Casino Corp.
/s/ Xxxxxx Xxxxxxx /s/ Xxxxxx X. Xxxxxxxx
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President Secretary
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