EXHIBIT 10.2
(recording information)
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TERMINATION OF MASTER LEASE AND SUBLEASE AGREEMENTS
THIS TERMINATION AGREEMENT is made and entered into as of June 28, 2001,
and is by and between the Confederated Tribes and Bands of the Yakama Nation, a
federally recognized American Indian Tribe (the "Tribe"), the Yakama Tribal
Gaming Corporation, a corporation organized under the laws of the Tribe (the
"Corporation") (the Tribe and the Corporation herein collectively the
"Borrower"), and H.P. Yakama, Inc., a Delaware corporation ("H.P. Yakama").
WHEREAS, the Tribe entered into a lease agreement ("Master Lease") with
H.P. Yakama dated September 11, 1997 between the Tribe as lessor and H.P. Yakama
as lessee; and
WHEREAS, the Corporation entered into a sublease agreement ("Sublease") of
the Master Lease dated September 11, 1997 between H.P. Yakama as sublessor and
the Corporation as sublessee; and
WHEREAS, the Borrower has entered into a certain Loan Agreement dated as of
the date hereof (the "Loan Agreement"), pursuant to which National City Bank of
Michigan/Illinois (the "Lender") will lend to the Borrower the principal amount
of $8,725,000 to pay in full certain existing debt of the Corporation in favor
of H.P. Yakama and to purchase the interest of H.P. Yakama in the Master Lease
and Sublease:
AGREEMENT
NOW, THEREFORE, in consideration for the payment in full of existing
obligations, and for good and valuable consideration, the receipt and adequacy
of which is hereby acknowledged by all parties hereto, it is hereby agreed as
follows:
1. The rights and obligations of the Tribe, H.P. Yakama, and the
Corporation under the Master Lease and Sublease respectively, are
terminated.
2. This Agreement shall be governed by and construed in accordance with
the provisions of the Master Lease and Sublease respectively.
[SIGNATURE PAGE FOLLOWS]
IN WITNESS WHEREOF, the parties hereto have caused this Termination Agreement to
be executed as of the date first above written.
Confederated Tribes and Bands of the Yakama
Nation, a federally recognized American Indian
Tribe
By: /s/ Xxxxxx Xxxxx, Xx.
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Its: Chairman
By: /s/ Xxxxxxxx Xxxxxx
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Its: Secretary
H.P. Yakama, Inc., a Delaware, corporation
By: /s/ Xxxxx X. Xxxxxx
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Its: Secretary
Yakama Tribal Gaming Corporation, a
corporation organized under the laws of the
Tribe
By: /s/ Xxxxxxx Xxxxxxxx
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Its: Chair
STATE OF WASHINGTON )
)
COUNTY OF YAKIMA )
The foregoing instrument was acknowledged before me this 28th day of
June, 2001, by Xxxxxx Xxxxx, Xx., Chairman, Confederated Tribes and Bands of
the Yakama Nation.
/s/ Xxxxx Xxxx
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Notary Public
STATE OF CALIFORNIA )
)
COUNTY OF LOS ANGELES )
The foregoing instrument was acknowledged before me this 28th day of
June, 2001, by Xxxxx X. Xxxxxx, H.P. Yakama, Inc., a Delaware corporation.
XXXXXXX X. XXXXXXXX
Commission #1277602
[SEAL] Notary Public - California /s/ Xxxxxxx X. Xxxxxxxx
Los Angeles County --------------------------------------
My Comm. Expires Oct 18, 0000 Xxxxxx Xxxxxx
XXXXX XX XXXXXXXXXX )
)
COUNTY OF YAKIMA )
The foregoing instrument was acknowledged before me this 28th day of
June, 2001, by Xxxxxxx Xxxxxxxx, Chair, Yakama Tribal Gaming Corporation, a
corporation organized under the laws of the tribe.
/s/ Xxxxx Xxxx
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Notary Public
The undersigned hereby confirms and acknowledges that, pursuant to 25 U.S.C. &
81 and 25 C.F.R. & 162.1 et Seq., he has reviewed and approved the foregoing
Termination of Master Lease and Sublease.
United States of America
Department of Interior
Bureau of Indian Affairs
By: /s/ Xxxxxxxx Xxxxxxx
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Its: Superintendent
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/s/ Xxxxx Xxxx
Subscribed to before me this 28 day
of June, 2001
NOTARY PUBLIC in and for the State
of Washington, Residing at
Toppenish, WA
My Commission Expires: April 29, 2002
