EXHIBIT 10.24
AMENDMENT NO. 2 TO AGREEMENT OF LEASE
This Amendment No. 2 to the Agreement of Lease, dated as of July 26,
2004 (this "AMENDMENT"), is entered into by and between Catskill Development,
L.L.C., a New York limited liability company ("CATSKILL") and Monticello Raceway
Management, Inc., a New York corporation ("MONTICELLO").
RECITALS:
WHEREAS, Catskill and Monticello are parties to the Agreement of
Lease, dated as of October 29, 2003, as amended by that certain Amendment No. 1
to the Agreement of Lease, dated as of January 12, 2004 (as amended, the
"LEASE");
WHEREAS, the parties have discovered that the legal description of
the Land (as defined in the Lease) and the acreage with respect thereto are
incorrect;
WHEREAS, the parties to the Lease would like to amend the Lease to
correct such description as herein provided.
AGREEMENT:
NOW, THEREFORE, for Ten Dollars ($10) and other good and valuable
consideration and the covenants and conditions herein set forth the parties
hereto agree as follows:
1. AMENDMENT. Exhibit 1 of the Lease is deleted in its entirety and
replaced with EXHIBIT 1 attached hereto.
2. GENERAL. (a) This Amendment shall be governed by, and enforced in
accordance with, the laws of the State of New York (excluding the choice of law
principles thereof). The provisions of Articles 24, 27, 28, 33, 35 and Sections
42.1, 42.3, 42.4, 42.5 and 42.6 of the Lease shall apply with like effect to
this Amendment, as fully as if set forth herein.
(b) As amended by this Amendment, the Lease is in full force and
effect.
(c) This Amendment may be executed in two or more counterparts, and
by different parties on separate counterparts. Each set of counterparts showing
execution by all parties shall be deemed an original, and shall constitute one
and the same instrument.
[Signature page follows]
IN WITNESS WHEREOF, the parties have caused this Amendment to be
executed and delivered by their duly authorized officers or agents as set forth
below.
CATSKILL DEVELOPMENT, L.L.C.,
Landlord
By: /s/ Xxxxx Xxxxxx
--------------------------------------
Name: Xxxxx Xxxxxx
Title: President
MONTICELLO RACEWAY MANAGEMENT, INC., Tenant
By: /s/ Xxxxxxxx X. Xxxxxxx
--------------------------------------
XXXXXXXX X. XXXXXXX
EXHIBIT 1
---------
LAND
All that certain plot, piece of parcel of land lying and being in the Village of
Monticello, Town of Xxxxxxxx, County of Xxxxxxxx and State of New York being
more particularly bounded and described and designated as Parcel No. 2 on the
Final Revised Subdivision Plat of Lands of Catskill Development, L.L.C., dated
May 25, 1999, made by X.X. Xxxxx, Engineering & Land Surveying, P.C., and filed
in the Office of the Xxxxxxxx County Clerk on February 4, 2000 as Map No. 8-271,
together with and subject to easements as shown thereon.
TOGETHER WITH, that certain 3.62 acre parcel in the Village of Monticello, Town
of Xxxxxxxx, County of Xxxxxxxx and State of New York more particularly
described as:
BEGINNING at a concrete highway monument found on the east bounds of New York
State Route 17-Quickway, said point of beginning being the southwest xxxxx of
lands of Loflcowitz as described in Liber 724 of Deeds at Page 1121, said point
of beginning being on the northerly tine of the premises originally described in
Liber 552 of Deeds at Page 314; and
RUNNING THENCE from said place of beginning South 66 degrees 14 minutes East
174.92 feet leaving said highway bounds and passing along the South bounds of
lands of said Xxxxxxxxx to a point on the west bounds of County Road No. 174
(formerly N.Y.S. Route 17);
THENCE the following courses and distances along the westerly bounds of said
County Road:
South 18 degrees 07 minutes East 350.00 feet;
South 29 degrees 25 minutes East 200.00 feet;
South 44 degrees 22 minutes East 610.00 feet;
South 33 degrees 08 minutes East 231.79 feet; and
South 18 degrees 46 minutes 125.00 feet to a point on the easterly bounds of New
York State Route 17-Quickway;
THENCE the following courses and distances along said Quickway bounds:
North 46 degrees 41 minutes West 531.00 feet to a concrete highway monument
found;
North 40 degrees 20 minutes West 363.11 feet to a concrete highway monument
found;
North 32 degrees 00 minutes West 403.67 feet to a concrete highway monument
found;
North 21 degrees 46 minutes West 289.81 feet to a concrete highway monument
found; and
North 13 degrees 46 minutes West 75.43 feet to the point or place of BEGINNING.
Containing 3.62 acres of land, as surveyed by Xxxxxx X. Xxxxxx, Licensed Land
Surveyor, in February, 1995.
