Xxxxxx X. Xxxxxxx
President
BELLAGIO
August 17, 1998
Xx. Xxxxxxx X. Xxxx
Chairman of the Board, President
and Chief Executive Officer
Mirage Resorts, Incorporated
0000 Xxx Xxxxx Xxxxxxxxx Xxxxx
Xxx Xxxxx, Xxxxxx 00000
Dear Xxxxx:
This confirms the agreement this date between Bellagio and
you with respect to the work of fine art entitled "Untitled"
by Xxxxxx xx Xxxxxxx (1970-1979, oil on canvas, 55 x 59-1/4
inches) (the "Work"), which you purchased from an independent
party on July 14, 1998 at a purchase price of $725,000.
1. You hereby sell the Work to Bellagio and Bellagio
hereby purchases the Work from you for $725,000.
2. Bellagio intends that the Work shall be maintained
on public display and shall be available for educational
purposes in any hotel-casino operated by any wholly owned
subsidiary of Mirage Resorts, Incorporated in conformity with
the requirements of NRS 361.068(k) and NRS 374 and any
regulations promulgated thereunder.
P.O. BOX 7700, LAS VEGAS, NEVADA 89177-7700
EXHIBIT 10.2
Xx. Xxxxxxx X. Xxxx
Mirage Resorts, Incorporated
August 17, 1998
Page Two
Please sign below to confirm your agreement to the foregoing.
My signature below confirms Bellagio's agreement thereto.
Very truly yours,
BELLAGIO
By: XXXXXX X. XXXXXXX
__________________________
XXXXXX X. XXXXXXX
President and Chief
Executive Officer
I hereby agree to the foregoing.
XXXXXXX X. XXXX
______________________________
XXXXXXX X. XXXX
cc: Xxxxx X. Xxxxx
Xxxxx X. Xxxxx
Xxxxx X. Xxxxxx
2
