Exhibit 10.1

 

AGREEMENT FOR GUARANTEE MAXIMUM PRICE

CONSTRUCTION SERVICES

 

CHANGE ORDER

 

31 March 2004

 

Project: Wynn Las Vegas (Le Rêve)

  Change Order No.: 3

“Contractor”:

MARNELL CORRAO ASSOCIATES, INC.

4495 South Polaris Avenue

Las Vegas, Nevada 89103

 

“Owner”:

WYNN LAS VEGAS, LLC

3145 Las Vegas Boulevard So.

Las Vegas, Nevada 89109

 

That certain Agreement for Guaranteed Maximum Price Construction Services
between Owner and Contractor for Le Rêve dated as of June 4, 2002 (“Contract”)
is hereby modified as follows:

 

1. SCOPE OF WORK

 

The Scope of Work is changed as follows:

 

  A. Motorized Drapery and Lighting Control Additions

 

  (i) Description.    MCA shall provide all additional work necessary to
incorporate motorized draperies into the Typical Guestrooms as well as
improvements to the drapery and lighting controls in the Suite Guestrooms. All
work shall be completed in accordance with WDD change directive dated 9/10/03,
JBA design sketches dated 8/28/03 and Butler Ashworth Notice of Clarification
dated 9/17/03, 9/18/03 and 9/23/03 respectively.

 

  (ii) Increase to Guaranteed Maximum Price.    Total increase per MCA Change
Order Proposal No. 12 dated 11 December 2003 as modified and accepted by WDD 22
March 2004, $1,832,865.

 

  B. Typical Guestroom Wallcovering

 

  (i) Description.    Install Owner furnished vinyl wallcovering in all Typical
and Suite attachable Guestrooms in lieu of the previously specified paint
finish. Installation shall conform to the requirements of the Typical Model Room
located in the Palm Tower.

 

  (ii) Increase to Guaranteed Maximum Price.    Total increase per MCA Change
Order Proposal No. 11 dated 28 October 2003, $589,042.

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  C. Hors d’ Oeuvre Kitchen

 

  (i) Description.    Convert Pantry # 13 located in the Convention support area
into a hors d’ oeuvre kitchen and Storage Rooms 2 and 3 into chilled preparation
rooms to support revised banquet catering program request from Wynn Las Vegas
Operations.

 

  (ii) Increase to Guaranteed Maximum Price. Total increase per WDD Change
Directive dated 13 November 2003, $517,360.

 

  D. Theatrical Infrastructure and Electrical for Lake Lighting

 

  (i) Description.    Provide all pathway conduits, wire and terminations for
Theatrical systems and installation of Owner Furnished Fixtures for Lake
Lighting system.

 

  (ii) Increase to Guaranteed Maximum Price.    Total increase per MCA Change
Order Proposal No.                  dated 31 March 2004, $3,700,000.

 

  E. Additional Contractor’s Fee

 

  (i) Description.    Pursuant to section 18.5.2 of the Contract, Contractor is
entitled to an additional Contractor’s Fee equal to 3% of any Change to the Cost
of the Work that is in excess of $931,883,710.

 

  (ii) Increase to Guaranteed Maximum Price.    Total increase in Contractor’s
Fee as detailed below $86,384.

 

Current Contract Amount thru CO#2

   $ 982,123,905

Change Order #3 Cost

   $ 6,639,267

Subtotal

   $ 934,763,172

Less Fee Increase Limit

   $ 931,883,710

Cost Basis for Fee

   $ 2,879,462

Additional Fee @ 3%

   $ 86,384

Total Scope of Work Change Order No. 3 amount

   $ 6,725,651     

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2. INCREASE TO GUARANTEED MAXIMUM PRICE.

 

The Guaranteed Maximum Price set forth in Section 3.1 of the Contract is by this
Change Order hereby increased from $928,123,905.00 to $934,849,556.00, based on
the Changes described in Paragraph 1 above. The detailed breakdown of the
foregoing increase is contained in the Revised Contractors Work and Guaranteed
Maximum Price Breakdown labeled as Revised Exhibit F and dated 31 March 2004,
and attached to this Change Order. Accordingly, the original Guaranteed Maximum
Price Breakdown attached as Exhibit F to the Contract is hereby deleted and
substituted therefore is the Revised Contractors Work and Guaranteed Maximum
Price Breakdown attached hereto. From and after the date of this Change Order,
all references in the Contract Documents to the “Guaranteed Maximum Price
Breakdown” attached as Exhibit F to the Contract, shall mean and refer to the
Revised Contractors Work and Guaranteed Maximum Price Breakdown attached hereto
as Revised Exhibit F. From and after the date of this Change Order, any and all
references in the Contract Documents to the “Guaranteed Maximum Price” shall
mean the amount of $934,849,556.00.

 

3. PROJECT SCHEDULE

 

The current Project Schedule dated 31 August, 2003 and attached as Exhibit B to
the Contract shall remain unchanged. The Contract Time of 910 calendar days from
Date of Commencement, and the Guaranteed Date of Substantial Completion, as
defined in Section 4.1 of the Contract, remain unchanged by this Change Order.

 

All initial capitalized terms used in this Change Order shall have the meaning
ascribed to them in the Contract, unless otherwise defined herein. This Change
Order is effective as of 31 March, 2004.

 

OWNER:

     

CONTRACTOR:

WYNN LAS VEGAS, LLC, a Nevada limited liability company,

     

MARNELL CORRAO ASSOCIATES, INC., a Nevada corporation

By:   /s/    TODD NISBET               By:   /s/    PERRY EIMAN            

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Name:

  Todd Nisbet      

Name:

  Perry Eiman

Title:

  Assistant Secretary      

Its:

  President

 

ARCHITECT: BUTLER/ASHWORTH ARCHITECTS, LLC By:   /s/    GLEN ASHWORTH          
 

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Name:

  Glen Ashworth

Its:

  Vice President and Secretary

 

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