Exhibit 10.75
LEASE SCHEDULE NO. 1
TO MASTER LEASE AGREEMENT
This Lease Schedule No. 1 is attached to and made a part of the Master
Lease Agreement ("Lease") between X X CLASSICS, INC. DBA X X'S SLOT CONNECTIONS,
a Nevada corporation ("Lessor"), and PIONEER HOTEL, INC., a Nevada corporation
("Lessee"), August 15, 1996.
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1. Description of Equipment: The Equipment listed on Attachment "A" to
this Lease Schedule is added to the Equipment leased under the Lease
and made subject to the provisions of the Lease.
2. Commencement Date: The Commencement Date for the Equipment leased
under this Schedule will be the date the Equipment is delivered and
accepted by the Lessee.
3. Term: The Term shall commence on the Commencement Date and shall
continue for 36 consecutive months.
4. The Basic Rent due each month during the Term for the Equipment
described herein is as follows:
a. The first payment under this Lease Schedule in an amount equal to
$1,154.53 times the number of days ("Interim Rent") from the
Commencement Date to the first of the month following the
Commencement Date (the "First Month") shall be due and payable
upon delivery and acceptance of the Equipment.
b. Payment of the Basic Rent in the amount of $34,635.87 shall be
due on the first day of the First Month and on the first day of
each month thereafter for 35 consecutive months.
c. In addition to the monthly Basic Rent and Interim Rent due as set
forth above, Lessee shall pay Lessor an amount equal to all taxes
which may be imposed by any Federal, State or local authority
from time to time.
5. Security Deposit: Lessee shall pay to Lessor, due upon execution of
this Schedule, a Security Deposit in the amount of $34,635.87. The
Security Deposit will be held by the Lessor for the Term of the Lease
and will be returned to Lessee upon satisfactory completion of the
terms and conditions of the Lease.
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6. All of the provisions of the above-mentioned Lease are incorporated by
reference herein as if set forth fully herein.
Dated: August 15, 1996
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LESSEE: LESSOR:
PIONEER HOTEL, INC., X X CLASSICS, INC. dba X X'S SLOT
A NEVADA CORPORATION CONNECTIONS, A NEVADA CORPORATION
BY: XXXXXX X. LAND BY: XXXX XXXXXXXXXXXX
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ITS: SVP AND CFO ITS: PRESIDENT
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