Exhibit 10.20


 


AGREEMENT


 


This Agreement dated this 25th day of March,
1975, by and between the Trustees of the FRATERNAL ORDER OF EAGLES of Las
Vegas, Aerie 1213, hereinafter referred to as “Landlord”, and the GOLDEN
NUGGET, INC., a Nevada corporation, hereinafter referred to as “Tenant”.


 


WHEREAS, Landlord and Tenant did enter into a
Lease dated the 4th day of September, 1962.


 


WHEREAS, a dispute has arisen between the
parties as to the proper manner of computing the additional rent pursuant to
Paragraph 6 of said Lease.


 


WHEREAS, the parties hereto desire by this
Agreement to fully settle said dispute between the parties on the terms and
conditions hereinafter set forth.


 


1.                                       The correct
Consumer Price Index (“CPI”) for July of 1974 is 172.2.


 


2.                                       The correct
percentage increase for the year commencing August 1, 1974 and ending July 31,
1975 is 63.2%, which percentage is computed by subtracting the CPI for July,
1962 from the CPI for July, 1974 and dividing such difference by 105.5 (the CPI
for July, 1962).


 


3.                                       The additional
rental for each future year of said Lease (including all extensions and
renewals thereof) shall be computed in accordance with the formula set forth in
Paragraph 2 hereof.  For example, the
additional rental for the period from August 1, 1975 to July 31, 1976 shall be
computed by subtracting the CPI for July 1962 from the CPI for July 1975 and
dividing such difference by the CPI for July 1962.


 


4.                                       The parties
agree that the Lease provides that 


 

















 


no corrections for prior years are permissible
under the Lease.


 


	
  GOLDEN NUGGET, INC.

  	
  FRATERNAL ORDER OF EAGLES

  LAS VEGAS AERIE 1213

  
	
  By

  	
  /s/ Stephen A. Wynn

  	
   

  	
  By

  	
  /s/ Harold Horn

  
	
   

  	
  Stephen A. Wynn – President

  	
   

  	
  Trustee

  
	
   

  	
   

  	
   

  	
  By

  	
  /s/ Fred W. Stone

  
	
  By

  	
  /s/ Kenneth R. Wynn

  	
   

  	
   

  	
  Trustee

  
	
   

  	
  Kenneth R. Wynn – Secretary

  	
  By

  	
  /s/ Charles A. Morris

  
	
   

  	
   

  	
  Trustee

  
	
   

  	
  By

  	
  /s/ John O. Tomblin

  
	
   

  	
   

  	
  Trustee

  
	
   

  	
  By

  	
  /s/ Robert L. Vandeventer

  
	
   

  	
   

  	
  Trustee

  



 


	
  STATE OF NEVADA

  	
  )

  
	
   

  	
  )  SS.

  
	
  COUNTY OF CLARK

  	
  )

  



 


On this 25th Day of March, 1975, before me,
the undersigned Notary Public in and for said County and State, personally
appeared Harold Horn, Fred Stone, Charles Morris, John Tomblin, and Robert
Vandeventer, known to me to be the Board of Trustees of the FRATERNAL ORDER OF
EAGLES, LAS VEGAS AERIE 1213, that executed the foregoing instrument, and upon
oath did depose that they are the Trustees of said FRATERNAL ORDER OF EAGLES as
above designated; that they are acquainted with the seal of said corporation
and that the seal affixed to said instrument is the corporate seal of said
corporation; that the signatures to said instrument were made by the officers
of said corporation as indicated after said signatures; and that the said
corporation executed the said instrument freely and voluntarily and for the
uses and purposes therein mentioned.


 


	
  WITNESS my
  hand and official seal.

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ Hartley R. Ashe

  
	
   

  	
  Notary Public

  
	
   

  	
   

  
	
  (Notarial Seal)

  	
   

  
	
   

  	
  State of Nevada, Clark County

  
	
   

  	
  My Commission Expires

         
  June 5, 1978

  
	
   

  	
   

  



 


2

















 


 


	
  STATE OF NEVADA

  	
  )

  
	
   

  	
  )  SS.

  
	
  COUNTY OF CLARK

  	
  )

  



 


On this 18 day of March, 1975, before me, the
undersigned Notary Public in and for said County and State, personally appeared
STEPHEN A. WYNN and KENNETH R. WYNN, known to me to be the President and
Secretary, respectively, of GOLDEN NUGGET, INC., the corporation that executed
the foregoing instrument, and upon oath did depose that they are the officers
of said corporation as above designated; that they are acquainted with the seal
of said corporation and that the seal affixed to said instrument is the
corporation seal of said corporation; that the signatures to said instrument
were made by the officers of said corporation as indicated after said
signatures; and that the said corporation executed the said instrument freely
and voluntarily and for the uses and purposes therein mentioned.


 


WITNESS my hand and official seal.


 


	
   

  	
  /s/ Sandra J. Kelley

  	
   

  
	
   

  	
  Notary Public

  
	
   

  	
  State of Nevada

  
	
   

  	
  County of Clark

  
	
   

  	
  My Commission Expires:

  
	
  (Notarial Seal)

  	
   

  
	
   

  	
          April 28, 1975

  
	
   

  	
   

  
	
   

  	
   

  



 


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