FIRST AMENDMENT TO EXCLUSIVE SPACE LEASE AGREEMENT
This First Amendment to Exclusive Space Lease Agreement("First
Amendment") is entered into by and between SPEAKEASY GAMING OF LAS VEGAS,
INC., a Nevada corporation ("SGLV"), and XXXXX XXXX XXXXXX AND XXX XXXXXX
XXXXXX, dba DYNASTY GAMES DISTRIBUTING ("Dynasty") as of this ___ day of
December, 1998.
R E C I T A L S :
(A) WHEREAS, SGLV and Dynasty entered into that certain Exclusive Space
Lease Agreement dated August 25, 1998 (the "Lease"), which sets forth the
terms and conditions of the lease of space by Dynasty from SGLV for the
placement, operation, and servicing of gaming devices at the Location (as
defined in the Lease); and
(B) WHEREAS, SGLV and Dynasty desire to amend the Lease to change
certain provisions related to the payment of rent under the Lease on the
terms and conditions set forth in this First Amendment.
NOW, THEREFORE, the SGLV and Dynasty hereby agree as follows:
1. CAPITALIZED TERMS. Capitalized terms not otherwise defined in this
First Amendment shall have the meanings ascribed to them in the Lease.
2. CONFLICTING TERMS. To the extent the provisions of this First
Amendment conflict with any of the terms and conditions of the Lease, the
provisions of this First Amendment shall control. SGLV and Dynasty
acknowledge and agree that, except as specifically modified hereby, each of
the terms and conditions of the Lease shall remain in full force and effect
and are enforceable in accordance with their respective terms.
3. SPACE LEASE PAYMENTS. Section 6.01 of the Lease shall be amended
to read in full as follows:
"6.01 SPACE LEASE PAYMENTS. Provided this Lease has not otherwise been
terminated, the parties agree to negotiate in good faith and determine, no
later than the last day of the fifth (5th) month of the Term unless mutually
agreed otherwise, the amount of the space lease payments Dynasty shall pay
SGLV, which payments shall be due and payable commencing on the first day of
the seventh (7th) month of the Term and for the remainder of the Term."
5. PAYMENT. Section 6.02 of the Lease shall be amended to read in
full as follows:
"6.02 PAYMENT. Dynasty shall not be required to pay space lease
payments for the first six (6) months of the Term. Thereafter, space lease
payments, as determined in accordance with Section 6.01, shall be payable in
advance on the first day of each calendar month. For example, if the
Commencement Date is September 1, 1998, Dynasty shall pay the first space
lease payment on March 1, 1998. All space lease payments, and all other
amounts payable to SGLV by Dynasty pursuant to the provisions of this
Agreement, shall be paid to SGLV without notice, demand, abatement, deduction
or offset, in lawful money of the United States at the Location or to such
other person or at such other place as SGLV may designate from time to time
by written notice given to Dynasty. No payment by Dynasty or receipt by SGLV
of a lesser amount than the correct space lease payment due hereunder shall
be deemed to be other than a payment on account; nor shall any endorsement or
statement on any check or any letter accompanying any check or payment be
deemed to effect or evidence an accord and satisfaction; and SGLV may accept
such check or payment without prejudice to SGLV's right to recover the
balance or pursue any other remedy in this Agreement or at law or in equity
provided.
Dynasty shall pay to SGLV all amounts due and owing under Section
5.03 of this Agreement within seven (7) days of receiving an invoice from
SGLV."
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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of date written below.
"SGLV" "Dynasty"
SPEAKEASY GAMING OF LAS VEGAS,
INC., a Nevada corporation
By: /s/ Xxxxx X. Xxxxxx By: /s/ Xxxxx Xxxx Xxxxxx
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Xxxxx X. Xxxxxx Xxxxx Xxxx Xxxxxx
Vice President
Dated: Dated:
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By: /s/ Dee Xxxxxx Xxxxxx
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Dee Xxxxxx Xxxxxx
Dated:
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