|PROPERTY PURCHASE
AGREEMENT


and


ESCROW INSTRUCTIONS


THIS
DOCUMENT (hereinafter referred to as this Agreement) is dated and made
effective as of October 26, 2001 and is made and entered into by and between SOUTH LAS
VEGAS, LLC, a Delaware limited-liability company (SELLER); GREENPARK
GROUP, LLC, a Delaware limited-liability company (GREENPARK); COAST
HOTELS AND CASINOS, INC., a Nevada corporation (BUYER); UNITED TITLE OF
NEVADA, INC., a Nevada corporation (ESCROW AGENT); and CB RICHARD
ELLIS, INC., a Nevada corporation (BROKER).


W I T N E S S E T H:


WHEREAS,
SELLER owns the real property described as Parcels One (1) through Twenty-five (25),
inclusive, in Exhibit A attached hereto and by this reference incorporated
herein, which real property, including and together with (i) all real property
improvements located thereon, (ii) all appurtenances thereto, (iii) all rights,
entitlements, interests and benefits relating thereto, (iv) the interest of SELLER in any
streets, roadways and rights-of-way thereon and (v) the interest of SELLER in any street
areas, roadway areas and right-of-way areas contiguous thereto, up to the centerline of
the contiguous street, roadway or right-of-way area, are hereinafter collectively referred
to as the Fee Land; and


WHEREAS,
SELLER is party to a contract and an escrow (Contract Escrow) for the
acquisition by SELLER of the real property described as Parcel Twenty-six (26) in Exhibit
A attached hereto, which real property, including and together with (i) all
real property improvements located thereon, (ii) all appurtenances thereto, (iii) all
rights, entitlements, interests and benefits relating thereto, (iv) interests which the
current owner thereof may have or which SELLER may have or acquire in any streets,
roadways and rights-of-way thereon and (v) the interest of SELLER in any street areas,
roadway areas and right-of-way areas contiguous thereto, up to the centerline of the
contiguous street, roadway or right-of-way area, are hereinafter collectively referred to
as the Contract Parcel; and


WHEREAS,
BUYER wishes to acquire the Fee Land and the Contract Parcel on certain terms and subject
to certain conditions, and SELLER is willing to sell the Fee Land and Contract Parcel to
BUYER on those terms and subject to those conditions; and


WHEREAS,
SELLER is an affiliate of GREENPARK, and GREENPARK will benefit from the consummation of
the transaction that is the subject of this Agreement; and


WHEREAS,
BUYER would not execute this Agreement or enter into the transaction that is the subject
of this Agreement without the agreements and assurances of GREENPARK set forth in this
Agreement; and


WHEREAS,
the Fee Land and the Contract Parcel are herein collectively referred to as the
Property,



NOW, THEREFORE, in
consideration of the agreements and promises set forth below, the parties hereto agree as
follows:


     1.       
          SELLER agrees to sell the Fee Land and the Contract Parcel to BUYER, and BUYER,
          subject to the conditions set forth in Paragraph 10 agrees to purchase the Fee
          Land and the Contract Parcel from SELLER for a purchase price (Purchase
          Price) of TEN MILLION EIGHT HUNDRED THOUSAND DOLLARS ($10,800,000.00).


     2.       
          BUYER shall pay the Purchase Price by depositing funds into the escrow
          (Escrow) to be established pursuant to the provisions of
          Paragraph 3 as follows:


     (a)       
          BUYER shall deposit funds in the sum of FIFTY THOUSAND
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| | DOLLARS
($50,000.00) into Escrow any time prior to 5:00 p.m., October 29, 2001. That sum shall be
placed by the ESCROW AGENT into an interest-bearing account satisfactory to BUYER, with
interest accruing for the benefit of BUYER. The $50,000.00 sum together with the interest
accruing on that sum through the date of disbursement from Escrow collectively represent
an earnest money deposit on the Property and are hereinafter collectively referred to as
the Deposit. The Deposit shall apply to the Purchase Price.
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(b)       
          BUYER shall deposit funds equal to the TEN MILLION SEVEN

| | HUNDRED
FIFTY THOUSAND DOLLAR ($10,750,000.00) balance of the Purchase Price (adjusted for
BUYERS costs, for prorations and for interest included in the Deposit) into Escrow
at or prior to Close of Escrow (as defined in Paragraph 3).
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|3.       
          An escrow shall be established for the transaction that is the subject of this
          Agreement under Escrow No. 01140678-AG with the ESCROW AGENT at 2300 West Sahara
          Avenue, Suite 140, Las Vegas, Nevada 89102, with the Escrow officer to be
          Angelina S. Galindo. Unless extended as provided in this Paragraph, or unless
          otherwise agreed by written agreement executed by both BUYER and SELLER, close
          of escrow (Close of Escrow) shall occur by the depositing of
          all required funds and documents into Escrow before 5:00 p.m., October 30, 2001,
          with applicable documents to be recorded and funds to be disbursed on the date
          of such deposit or the following business day.


     4.       
          The ESCROW AGENT has delivered to BUYER a 2nd Amended preliminary title report
          on the Property dated October 19, 2001 (Title Report). Real
          property tax installments not delinquent at Close of Escrow; the title
          exceptions listed as exception numbers 21 through 27, 29 through 38, 40 through
          49, 51 through 55 and 67 in the Title Report (subject to the provisions set
          forth in those exceptions) and any other title exceptions that are approved in
          writing by BUYER at or prior to Close of Escrow (whether or not previously
          disapproved by BUYER) are hereinafter referred to as the Permitted
          Exceptions.



5.       
          At Close of Escrow, SELLER shall convey to BUYER good, marketable and insurable
          title to the Property by Grant, Bargain, Sale Deed (Deed)
          subject to only the Permitted Exceptions. The Deed shall contain the following
          provision:


Until
the Termination Date (as defined below), the property
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| | conveyed
hereby shall not be occupied for residential purposes or for commercial or industrial
business activities with the general public save and except for business activities of a
seasonal or temporary nature which are not conducted in any permanent building structure
on the property. The Termination Date shall be the first to occur of (i) the date when any
hotel casino facility begins business activities on the subject property, (ii) the date
when Grantor has conveyed and divested itself of fee title to all property in Section 29,
Township 22 South, Range 61 East, M.D.B. & M. owned by Grantor on the date of
recording of this Deed (which is the property benefitted by this restriction) or (iii)
January 1, 2005. This restriction shall run with the land; shall be binding upon
Grantees successors, assigns and grantees; shall be enforceable by prohibitive
injunction; and shall terminate, expire and become of no force or effect on the
Termination Date, which shall in no event be later than January 1, 2005.
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|Escrow fees, recording fees, transfer
taxes and other costs that are not otherwise specifically provided for in this Agreement
and that are incurred through Escrow shall be divided in the manner customary in Clark
County, Nevada. Possession of the Property shall be transferred at Close of Escrow. Title
shall be conveyed to and vested in BUYER or such assignee or nominee as BUYER, in its
discretion, may designate in writing to the ESCROW AGENT at or prior to Close of Escrow.
The ESCROW AGENT shall prorate real property taxes as of the date the Deed is recorded.


     6.       
          At Close of Escrow, SELLER shall pay for and cause a title insurance company of
          which the ESCROW AGENT is an agent and that is satisfactory to BUYER
          (Title Insurer) to provide BUYER with a CLTA standard
          coverage owners policy of title insurance with a CLTA 104.1
          mechanics lien coverage endorsement (the Title Policy),
          insuring BUYERS ownership interest in the Property in the amount of the
          Purchase Price, subject to only standard policy form printed exceptions and the
          Permitted Exceptions. Prior to Close of Escrow or termination of the transaction
          contemplated in this Agreement, SELLER shall not encumber the Property with, or
          permit the Property to be encumbered with title exceptions other than the
          Permitted Exceptions. BUYER, in its discretion, may elect to acquire ALTA
          extended form title insurance coverage. BUYER may, in its discretion, elect to
          acquire reasonable additional policy endorsements. If BUYER elects to acquire
          such extended coverage or any such additional endorsements, BUYER shall pay all
          additional premiums and all inspection fees.


     7.       
          SELLER hereby represents and warrants to BUYER as follows, which representations
          and warranties shall be deemed again made and repeated as of Close of Escrow, as
          if first made on that date:



(a)       
          Subject to SELLERS acquisition of the Contract Parcel,
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| | SELLER
has full power and authority to sell the Property. This Agreement has been duly and
validly authorized, executed and delivered by SELLER. No other authorization is requisite
to the valid and binding execution, delivery and performance of this Agreement by SELLER.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(b)       
          To the best knowledge of SELLER, there are no threatened
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| | or
pending condemnation proceedings, administrative proceedings or litigation of any kind
relating to the Property or title thereto.
| | ------------------------------------------------------------------------------------------------------------------------------------

|(c)       
          To the best knowledge of SELLER, neither SELLER nor any
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| | other
party is in violation, breach or default of any instrument that constitutes a Permitted
Exception.
| | --------------------------------------------------------------------------------------------------------

|(d)       
          To the best knowledge of SELLER, except as may be
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| | expressly
disclosed and described in the Phase I Environmental Site Assessment prepared by
Geotechnical & Environmental Services, Inc. dated October 27, 2000, or as may be
otherwise disclosed by SELLER in notice given by SELLER to BUYER on or before October 26,
2001, there are no underground storage tanks, toxic materials, hazardous wastes or
hazardous substances (as those terms are defined in the Resource Conservation and Recovery
Act of 1976, as amended, or in the Comprehensive Environmental Response Compensation and
Liability Act of 1980, as amended) on the Property.
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|(e)       
          SELLER has no knowledge of any notices of any violation
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| | of
any law, ordinance or regulation from any governmental authority with respect to the
Property.
| | -------------------------------------------------------------------------------------------------

|(f)       
          To the best knowledge of SELLER, no action or proceeding
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| | has
been commenced for the purpose of seeking judicial relief or review from or with respect
to the final action of the Clark County Commission regarding Clark County, Nevada
(County) zoning application No. ZC-0667-01.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Prior to Close of Escrow, SELLER
shall, at its cost, perform all acts and take all steps necessary to remedy and cure any
breach of any of the foregoing warranties discovered or determined prior to Close of
Escrow and to place the Property in conformance with those warranties.


     8.       
          BUYER hereby represents and warrants to SELLER that BUYER has full power and
          authority to purchase the Property. This Agreement has been duly and validly
          authorized, executed and delivered by BUYER. No other authorization is requisite
          to the valid and binding execution, delivery and performance of this Agreement
          by BUYER. The foregoing representations and warranties shall be deemed again
          made and repeated as of Close of Escrow, as if first made on that date.


     9.       
          SELLER shall make its best efforts to have the Contract Escrow closed prior to
          or contemporaneously with Close of Escrow to enable the Contract Parcel to be
          transferred and conveyed to BUYER at Close of Escrow as contemplated in
          Paragraph 5.



10.       
          The obligations of SELLER under this Agreement, including SELLERS
          obligation to transfer and convey the Property and close Escrow, shall be
          subject to the condition that BUYER perform or tender performance of all of the
          prior and contemporaneous obligations of BUYER under this Agreement. The
          foregoing condition is for the benefit of only SELLER. The obligations of BUYER
          under this Agreement, including BUYERS obligation to pay the Purchase
          Price and close Escrow, shall be subject to the following conditions, which
          conditions, unless otherwise expressly noted, are for the benefit of only BUYER,
          and, except as specifically otherwise provided in this Agreement, may be waived
          only by a written instrument signed by BUYER:


     (a)       
          The ability of SELLER to convey title to the Property at
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| | Close
of Escrow as required in Paragraph 5, and the agreement by the Title Insurer at Close of
Escrow to issue the Title Policy, together with such extended coverages and endorsements
as BUYER may elect to acquire in accordance with Paragraph 6, subject to only the
Permitted Exceptions, and for such premium costs to BUYER as are satisfactory to BUYER, in
its reasonable discretion. This condition is for the benefit of BUYER and may be waived by
BUYER; provided, however, that if (i) this condition has not been fulfilled by the time
Escrow is to close or has not been waived by BUYER at the time Escrow is to close and (ii)
SELLER does not hereafter voluntarily encumber or voluntarily permit the encumbering of
the Property with a title exception other than a Permitted Exception, this condition shall
also be a condition for the benefit of SELLER.
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|(b)       
          The performance by SELLER of all of the prior and


contemporaneous
obligations of SELLER under this Agreement.


     (c)       
          BUYER having in good faith determined before 5:00 p.m.,
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| | October
29, 2001, that BUYERS acquisition of the Property is in the best interest of BUYER.
This condition shall be deemed to have been fulfilled or waived by BUYER unless any time
before that date and time, BUYER gives SELLER and the ESCROW AGENT notice to the contrary,
canceling the Escrow and the transaction that is the subject of this Agreement. If BUYER
cancels and terminates the Escrow and the transaction that is the subject of this
Agreement as provided in the immediately preceding sentence, the ESCROW AGENT, upon
receiving notice thereof, shall immediately refund and disburse the Deposit to BUYER,
without the requirement of any notice to, or approval by, SELLER.
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|(d)       
          SELLER not being in breach of any warranty of SELLER set


forth
in this Agreement.


     (e)       
          Closing of the Contract Escrow prior to or
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| | contemporaneously
with Close of Escrow. If, but only if, SELLER has timely fulfilled its obligations set
forth in Paragraph 9, this condition shall also be for the benefit of SELLER.
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|11.       
          At Close of Escrow, the ESCROW AGENT shall record the Deed and deliver the
          Performance Bond (as defined in Paragraph 13) to BUYER. Cash proceeds deposited
          by BUYER as a part of the Purchase Price shall be utilized by the ESCROW AGENT
          to pay SELLERS incurred costs and prorations through Escrow. The remainder
          of the cash proceeds deposited with the ESCROW AGENT at Close of Escrow shall be
          disbursed in accordance with directions from Seller to clear title to the
          Property at Close of Escrow, with any remaining balance to be disbursed to
          SELLER.


     12.       
          If Close of Escrow occurs, it is the desire of BUYER and SELLER that (i) the Fee
          Land, (ii) the Contract Parcel and, if timely acquired by BUYER prior to
          submission to County of the Subdivision Applications (as defined below), (iii)
          the real property described as Parcel Twenty-seven (27) in Exhibit A
          attached hereto (BLM Parcel) be legally combined to
          constitute a single legal parcel in which all dedicated street areas, all patent
          reservation areas and all other right-of-way areas between all of the parcels
          currently comprising the Fee Land, the Contract Parcel and, if timely acquired
          by BUYER prior to submission to County of the Subdivision Applications, the BLM
          Parcel, are vacated, terminated and eliminated; provided, however, that
          dedicated street areas, patent reservation areas and right-of-way areas for
          Parvin Avenue would not be vacated, terminated and eliminated if County refuses
          to approve the Subdivision Documents (as defined below) unless they are
          retained. Prior to February 1, 2002, SELLER, at its sole cost and expense, shall
          prepare, submit to County and diligently thereafter pursue approval of, a
          proposed commercial subdivision map and all such other petitions (including
          vacation petitions), applications, plans and other documents and filings
          (collectively, Subdivision Applications) as may be necessary
          to have a final commercial subdivision map, orders of vacation and any other
          required documents (including all plans for improvements required as a condition
          to the approval, filing and recording of a final commercial subdivision map
          [Subdivision Improvement Plans]) (collectively,
          Subdivision Documents) approved by County and, if applicable,
          filed and recorded, resulting in the Contract Parcel, the Fee Land and, if
          timely acquired by BUYER prior to submission of the Subdivision Applications to
          the County, the BLM Parcel, being so combined. The Subdivision Applications
          contemplated by the immediately preceding sentence need not be initially based
          on a specific development site plan for the subject land, but instead may
          initially provide for a standard or generic map, the purpose of which is to
          combine such parcels into a single legal parcel, taking into consideration the
          zoning for the Property and all required conditions of County approval of zoning
          application ZC-0667-01. BUYER may from time to time provide SELLER with
          tentative site development information for BUYERS specific desired use of
          the subject land, and may from time to time require reasonable modifications to
          the Subdivision Applications and/or Subdivision Documents. SELLER shall use its
          commercially reasonable best efforts, taking into consideration any delays
          caused by changes, requirements, disapprovals, acts or omissions of BUYER,
          including delays resulting from changes requested by BUYER to the Subdivision
          Applications and/or Subdivision Documents and delays resulting from information
          or requirements related to BUYER information referenced in the preceding
          sentence, to have final, County-approved Subdivision Documents approved, filed
          and recorded on or before December 31, 2002. SELLERs actions in that
          regard shall include preparation of, and pursuing approval by County of, all
          Subdivision Improvement Plans. BUYER agrees to reasonably cooperate with SELLER
          in a timely manner with respect to the activities and matters contemplated in
          this Paragraph and sign such maps and plats and execute such deeds and other
          instruments as may be necessary to effect the filing and recording of the
          Subdivision Documents; provided, however, that any and all conditions imposed by
          County on the filing and recording thereof, including, but not limited to,
          required boundary dedications, easements, covenants, conditions and
          restrictions, shall be subject to the approval of BUYER, in its discretion, and
          SELLER shall at all times keep BUYER informed of and in communication with
          County personnel relative to all such conditions. SELLER shall not be obligated
          to acquire any real property that SELLER does not own on the date of this
          Agreement or to pay the cost of acquiring any real property that SELLER does not
          own on the date of this Agreement to fulfill or satisfy any such condition. If
          SELLER fails (taking into account delays as referenced above) to (i) timely
          submit the Subdivision Applications to the County, (ii) diligently pursue
          approval of the Subdivision Applications as contemplated in this Paragraph or
          (iii) use its commercially reasonable best efforts to have all necessary
          Subdivision Documents filed and recorded on or before December 31, 2002, in each
          such event, time being of the essence, BUYER may at any time thereafter give
          notice to SELLER of such failure and demand that such failure be cured with
          twenty (20) days of SELLERS receipt of that notice. If such failure is not
          cured within that 20 days, or if such failure is not capable of being cured in
          that 20-day period and SELLER does not within that period commence such cure and
          thereafter diligently prosecute the same to completion, or if such failure is
          timely cured but is subsequently repeated at any time following SELLERS
          receipt of that notice, BUYER may at any time thereafter, by notice to SELLER
          (Subdivision Notice) elect to relieve SELLER of the
          obligation to further process the Subdivision Applications and Subdivision
          Documents and itself proceed to have the Subdivision Documents filed and
          recorded, with the following qualifications and consequences:


     (a)       
          SELLER shall (i) within thirty (30) days of receipt of
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| | the
Subdivision Notice pay all engineers, contractors and other advisors for all work
performed through the date of receipt of the Subdivision Notice for plans, maps, studies,
tests and filings comprising or related to the Subdivision Applications or Subdivision
Documents, including the Subdivision Improvement Plans, and (ii) within five (5) days of
receipt of the Subdivision Notice assign to BUYER all right, title and interest of SELLER
in all such work, plans, maps, studies, tests and filings as they relate to the Property.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(b)       
          BUYER shall be entitled to process the Subdivision
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| | Applications
and obtain the approval, filing and recording of the Subdivision Documents utilizing all
such work, plans, maps, studies, tests and filings.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------

|(c)       
          Upon giving the Subdivision Notice, the amount to be paid
|------------------------------------------------------------------------------

| | by
BUYER to SELLER for each numbered item of Sellers Work set forth in Exhibit
B shall then be automatically reduced to an amount equal to EIGHTY-FOUR PER
CENT (84%) of the sum noted in Exhibit B.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(d)                 SELLER
shall thereafter, from time to time, within five
|---------------------------------------------------------------------------

|(5) | days of receipt of written request from BUYER, provide BUYER with all
                    assignments, consents, signatures and approvals of SELLER and any persons or
                    parties under the control of SELLER as may be necessary or desirable for BUYER
                    to pursue approval of the Subdivision Applications and the filing and recording
                    of the Subdivision Documents, including, but not limited to, any consents,
                    signatures and approvals for required dedications.
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Notwithstanding any other provision
of this Agreement, so long as, but only so long as, SELLER does not contest or dispute the
Subdivision Notice or BUYERS right to give the Subdivision Notice under the
applicable circumstances, and so long as SELLER after receipt of the Subdivision Notice
diligently performs SELLERS obligations in (a) and (d) above, SELLER shall be deemed
released from all of SELLERS obligations set forth in this Paragraph 12 other than
obligations constituting Sellers Work Obligations (as defined in Paragraph 14), and
BUYERS right to give a Subdivision Notice and thereafter pursue the rights and
remedies set forth in subparagraphs (b) and (c) above shall constitute the sole rights and
remedies available to BUYER for failure of SELLER to timely fulfill its obligations set
forth in this Paragraph 12 which are not Sellers Work Obligations.


     13.       
          Following Close of Escrow, SELLER shall expeditiously commence and diligently
          pursue to completion the construction and development work for the benefit of
          the Property (Sellers Work), described in Exhibit
          B attached hereto and by this reference incorporated herein. At
          Close of Escrow, SELLER shall deposit with the ESCROW AGENT for delivery to
          BUYER at Close of Escrow, a performance and completion bond in the sum of THREE
          MILLION FIVE HUNDRED THOUSAND DOLLARS ($3,500,000) (Performance
          Bond) in form attached hereto as Exhibit D or in another
          form satisfactory to BUYER, in its reasonable discretion, assuring the full,
          timely and faithful performance and completion of Sellers Work by SELLER
          following Close of Escrow as required in this Agreement. The Performance Bond
          shall be written by a surety (Surety) which is a member of
          the Gulf Insurance Group, or another surety which is listed in A.M. Bests
          rating guide with a rating of at least AVIII, has a certificate of
          authority issued by the Nevada Division of Insurance and is approved by the
          United States Department of Treasury as reflected in Department Circular 570. If
          SELLER is required to post an off-site improvement bond or bonds or other
          improvement bond or bonds (an Improvement Bond) with County
          or a utility-providing agency or company for all or substantially all of
          Sellers Work described in one or more of the numbered items listed in
          Exhibit B, then upon the posting of such Improvement Bond with
          County, the company or agency, SELLER may thereafter reduce the amount of the
          Performance Bond by the dollar amount noted in Exhibit B to be paid
          by BUYER to SELLER for the item or items (which payment obligations are more
          fully described in Paragraph 15). BUYER shall take such actions as may be
          reasonably requested to allow the reduction of the amount of the Performance
          Bond in accordance with the foregoing provisions, which actions shall include
          but shall not necessarily be limited to, the providing of such consents,
          requests and approvals of BUYER as may be reasonably requested by SELLER or the
          Surety and the exchange of the original Performance Bond with the Surety for a
          revised Performance Bond in an appropriately reduced amount. When all
          Sellers Work in all categories on Exhibit B is either covered
          by an Improvement Bond or has been Accepted (as defined below), and provided
          BUYER is not then pursuing a claim under or against the Performance Bond, BUYER
          shall take all action reasonably requested by SELLER or the Surety for the
          release, termination and return of any remaining Performance Bond then held by
          BUYER, including without limitation the return of the original of any such
          Performance Bond to the Surety. Any modifications to Sellers Work shall be
          in writing signed by both SELLER and BUYER; provided that SELLER may without the
          consent of BUYER, and at SELLERS sole expense, make minor field
          modifications to Sellers Work reasonably required by SELLER, so long as
          such modifications do not modify the size, location or capacity of the
          improvement and do not materially adversely affect the Property, the nature,
          value or specifications of Sellers Work or BUYERS intended
          development or use of the Property. If any other modifications are requested by
          SELLER, BUYER shall not unreasonably withhold or delay its consent provided that
          such modifications (i) do not delay or hinder the construction of Sellers
          Work, (ii) do not adversely impact any intended use or development of the
          Property by BUYER, (iii) do not modify the size, location or capacity of the
          improvements and (iv) do not materially modify the nature, value or
          specifications of Sellers Work. If any modifications are requested by
          BUYER, SELLER shall not unreasonably withhold its consent provided that such
          modifications (i) do not increase the estimated costs of Sellers Work (or,
          at the option of either BUYER or SELLER, if BUYER pays or agrees to timely pay
          any excess costs), (ii) do not delay or hinder the construction of Sellers
          Work or any other work being conducted by SELLER on adjacent properties owned by
          SELLER, and (iii) do not adversely impact any intended development of any
          adjacent properties owned by SELLER or any assignee or transferee of SELLER. Any
          written modification to Sellers Work shall also set forth the excess costs
          thereof, if any, and shall state the party responsible for such excess costs and
          the time and manner of payment therefor.


     14.       
          SELLER, as a part of Sellers Work, shall enter into construction contracts
          for completion of all phases of each item of Sellers Work, shall obtain
          all construction and building permits for completion of all phases of each item
          of Sellers Work and shall post all required bonds for all phases of each
          item of Sellers Work, all within sixty (60) days following release by the
          County of the final subdivision map for recording. All such construction
          contracts shall require the contractors to name BUYER (or BUYERS permitted
          nominee or assignee) as an additional insured on the contractors
          construction liability policies. Subject to the following provisions of this
          Paragraph, the Sellers Work shall be completed by SELLER with (i) the
          County having Accepted (as defined below) all off-site improvements and surface
          water drainage facilities and (ii) all utility companies and agencies (including
          Clark County Sanitation District, the Las Vegas Valley Water District and Nevada
          Power Company) having either fully constructed and installed or Accepted the
          utility lines and laterals to be furnished pursuant to the provisions of Exhibit
          B prior to the date that is ten (10) months following the date of
          recordation of the Subdivision Documents, except as such work may be delayed or
          hindered by any changes, acts or omissions of BUYER or by any force
          majeure event. As used herein, a force majeure event shall
          mean (i) fire or explosion; (ii) earthquake, flood, action of the elements, or
          any other act of God; (iii) war, invasion, insurrection, riot, mob violence,
          sabotage, or malicious mischief; (iv) strike, lockout, or other labor dispute;
          (v) condemnation, requisition, law, moratorium or order of government or civil
          or military or naval authority; or (vi) any other cause (excluding financial
          inability) not within the reasonable control of SELLER. SELLER and its
          contractors, subcontractors and agents shall have the right to enter upon the
          Property at any time and from time to time following the Close of Escrow as
          reasonably required to complete Sellers Work. Promptly upon SELLERS
          request, BUYER shall provide SELLER with any information or documentation, and
          shall execute any instruments or other documents, reasonably required by SELLER
          to complete Sellers Work. As utilized in this Agreement, the term
          Accepted or Acceptance of improvements,
          facilities, utility lines and laterals by the County or a utility company or
          agency means (i) that the County, company or agency (as applicable) has provided
          written acceptance of the improvement, facility or utility line and laterals and
          (ii) that all replacements, modifications, corrections, completions, additions
          and repairs required as a condition to that acceptance by the County, company or
          agency to be made to the constructed improvement, facility or utility line and
          laterals (or any other public improvements or utility improvements damaged
          during the course of construction) have been in all respects made and completed.
          BUYER shall at its cost repair and restore all damage to Sellers Work
          caused by BUYER, its contractors or other representatives. In the event of
          BUYERS delivery of a Subdivision Notice to SELLER, so long as, but only so
          long as, SELLER does not contest or dispute the Subdivision Notice or
          BUYERS right to give the Subdivision Notice under the applicable
          circumstances, and so long as SELLER after receipt of the Subdivision Notice
          timely performs SELLERS obligations in (a) and (d) in Paragraph 12, BUYER
          (and not SELLER) shall thereafter be responsible for completion of the
          Subdivision Improvement Plans and pursuing all plan checks therefor. However,
          SELLER shall be and remain obligated for the performance of and payment for all
          of Sellers Work necessary to obtain the approval, filing and recording of
          the Subdivision Documents, including without limitation, the obtaining of all
          permits, the posting of all required Improvement Bonds and entering into all
          construction contracts for Sellers Work.


SELLERS obligations under this
Agreement with respect to the commencement, prosecution, completion and Acceptance of
Sellers Work, including all items noted as Sellers Work in this Agreement and
all obligations of SELLER noted in Exhibit B, are herein collectively referred
to as the Sellers Work Obligations. In the event of any failure
or refusal of SELLER to timely perform one or more of Sellers Work Obligations,
BUYER shall notify SELLER, GREENPARK and the Surety in writing, and those parties shall
have thirty (30) days from receipt of such written notice to cure such default or, if such
default is not capable of cure in such 30-day period, to commence such cure and thereafter
prosecute the same to completion. If SELLER, GREENPARK or the Surety does not cure such
breach in such manner, a Sellers Work Default shall be deemed to
have occurred. Upon the occurrence of a Sellers Work Default, BUYER, subject to the
Damage Limit (as defined below), shall thereafter have the right to pursue any remedy
available to BUYER at law or in equity with respect to such Sellers Work Default,
including without limitation a suit for specific performance, an action for monetary
damages, a claim or suit against the Surety and/or the right to undertake and complete
Sellers Work. Any action by BUYER to undertake and complete Sellers Work shall
be with the consent or approval of, and in cooperation with, the Surety unless the Surety
denies responsibility under the Performance Bond or fails to timely respond to demands or
requests made by BUYER with respect to the Performance Bond. In the event BUYER undertakes
to complete the Sellers Work, BUYER shall have the right to offset Unrecovered
Buyer Costs (as defined below) incurred by BUYER in connection therewith against any
amounts payable by BUYER to SELLER pursuant to Paragraph 15 below. As used herein, the
term Unrecovered Buyer Costs shall mean all costs reasonably incurred
by BUYER in completing Sellers Work, minus all amounts paid or reimbursed to BUYER
for those costs by SELLER, the Surety or GREENPARK. Notwithstanding any provision of
Paragraphs 16 or 24 or any other provision of this Agreement to the contrary, in all
events (i) any monetary damages recoverable by BUYER shall not include, and SELLER shall
not be liable for, losses incurred, or profits lost relative to, the operation of a hotel
casino or other business on the Property, and (ii) the aggregate of all monetary damages
recoverable by BUYER for Sellers Work Defaults shall in no event exceed the
Damage Limit. The Damage Limit shall equal the sum total of the
following:


     (a)       
          The positive dollar amount, if any, computed by adding
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|(i) | all costs reasonably incurred by BUYER in completing Sellers Work,
                    including any payments made by BUYER to contractors, engineers, consultants and
                    others to design and complete Sellers Work, the cost of off-site and other
                    improvement bonds for Sellers Work and any payments made by BUYER to
                    SELLERS contractors, engineers, consultants and others for costs incurred
                    by SELLER but unpaid by SELLER, plus (ii) all sums paid by BUYER for
                    Sellers Work pursuant to Paragraph 15, and then subtracting from the
                    resulting total (1) the total sum payable by BUYER to SELLER (or to the Surety
                    or GREENPARK) for Sellers Work as set forth in Paragraph 15 and Exhibit
                    B, after first taking into account all reductions to the amounts
                    thereof, if any, as may be made as provided in Paragraph 12, (2) amounts, if
                    any, paid or reimbursed to BUYER for Sellers Work by SELLER, GREENPARK or
                    the Surety; and
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(b)       
          Attorneys fees paid by BUYER related to or arising from
|-----------------------------------------------------------------------------

| | the
Sellers Work Default and that are reasonably incurred by BUYER prior to the filing
of any lawsuit relative to such default; and
| | ------------------------------------------------------------------------------------------------------------------------------------

|(c)       
          TWO MILLION DOLLARS ($2,000,000.00).


The limitations and provisions
regarding the Damage Limit shall also extend to GREENPARK as guarantor of SELLERS
obligations hereunder.


     15.       
          If Close of Escrow occurs, at such time as an item of Sellers Work listed
          in Exhibit B has been completed by SELLER, BUYER, the Surety or
          otherwise and either the County has Accepted the item (if the item consists of
          an off-site improvement or surface water drainage facility) or the applicable
          utility company or agency has fully constructed and installed or Accepted the
          item (if the item consists of utility lines and laterals), SELLER shall provide
          BUYER with written notice and written evidence thereof. Within twenty (20) days
          of BUYERS receipt of such notice and evidence following completion and
          Acceptance of an item, BUYER shall pay to SELLER the cash sum noted in Exhibit
          B to be paid for the item, subject to the provisions of Paragraphs
          12 and 14 above for the reduction and offset of the amount of those sums. Upon
          completion (by SELLER, BUYER, the Surety or otherwise) and Acceptance of all of
          Sellers Work, within twenty (20) days of BUYERS receipt of written
          notice and written evidence thereof from SELLER, BUYER shall pay to SELLER the
          additional cash sum of THREE HUNDRED FIFTY THOUSAND DOLLARS ($350,000.00)
          (Retention Sum). The Retention Sum shall be subject to
          reduction and offset pursuant to the provisions of Paragraph 14 above. BUYER
          acknowledges that SELLERS right to receive payments on account of
          Sellers Work under the foregoing provisions may be subject to collateral,
          contingent or conditional assignment by SELLER to the Surety, and BUYER consents
          to any such assignment. BUYERS payment obligations under this Paragraph 15
          shall survive any breach or default by SELLER under this Agreement but shall be
          subject to the offset and reduction rights and provisions set forth in
          Paragraphs 12 and 14.



16.       
          Subject to the provisions of Paragraph 14 regarding the Damage Limit for
          Sellers Work Defaults, SELLER shall pay and indemnify and hold BUYER free,
          clear and harmless from any Claim (as defined below) caused by, resulting from
          or relating to the performance and prosecution by SELLER of Sellers Work.
          SELLER shall keep the Property at all times free and clear of any and all lien
          claims relative to Sellers Work, including, but not limited to, any
          mechanics or materialmens lien. The term Claim
          means a claim, demand, action, cause of action, right, right of recovery, suit
          at law or in equity, damages, interest, obligations, fines and penalties for
          which BUYER is claimed, asserted, declared or determined to be liable or
          obligated, whether or not well-founded. Notwithstanding the foregoing, if BUYER
          elects to undertake and complete SELLERs Work as provided for in Paragraph
          14, SELLER shall not be responsible for (i) a Claim arising by reason of, or
          resulting from, an event first occurring or condition first existing after BUYER
          undertakes SELLERs Work or (ii) a lien claim (or portion of a lien claim)
          arising from and relating to work authorized by BUYER and performed by or on
          behalf of BUYER after BUYER undertakes SELLERs Work. If any lien for which
          SELLER shall be responsible is placed of record against the Property, SELLER, at
          its sole cost and expense, shall obtain the full and complete discharge and
          release thereof not later than twenty (20) days following SELLERS receipt
          of a copy thereof. Notwithstanding anything in this Paragraph or any other
          provision of this Agreement to the contrary, SELLER shall not be liable for
          damages to BUYER for losses claimed by BUYER to have been incurred, or profits
          claimed by BUYER to have been lost relative to the operation of a hotel casino
          (or other business) or proposed hotel casino (or other business) on the
          Property.


     17.       
          If Close of Escrow occurs, BUYER and SELLER acknowledge and agree that it shall
          be in their mutual best interest to have a full access freeway interchange
          (Interchange) established and constructed for the
          intersection of Silverado Ranch Road and Interstate 15. Therefore, if Close of
          Escrow occurs, BUYER and SELLER agree to work expeditiously together and with
          representatives of County and the State of Nevada for the establishment and
          construction of the Interchange, and they shall do the following:


     (a)       
          BUYER and SELLER shall each enter into written
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-------------------------------------

| | commitments
with the County prior to January 1, 2003 whereby they each agree to dedicate, without
cost, to the County, the State of Nevada, or such other appropriate governmental agency or
entity, from such real property as may be owned by them, from time to time, in the West
Half (W 1/2) of the East Half (E 1/2) of Section 29, Township 22 South, Range 61 East,
M.D.B. & M. (Westerly Property), such right-of-way as the County
may reasonably request and desire for the Interchange (including freeway on-ramps and
off-ramps), Silverado Ranch Road right-of-way and, in the West Half (W 1/2) of the
Westerly Property, right-of-way for a freeway frontage road running generally north-south
parallel to, and on the east side of, Interstate 15, conditioned upon the Interchange
being fully developed and constructed prior to January 1, 2005; provided, however, that
BUYER, in BUYERS discretion, may waive and may require SELLER to waive the right to
impose or enforce any condition of timely construction of the Interchange with respect to
such dedication.
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|In
addition to the actions set forth in Subparagraph
|----------------------------------------------------

| | 17(b),
BUYER shall make a financial commitment to the County on or before January 1, 2003 in an
amount of not less than TWO MILLION DOLLARS ($2,000,000.00) for purposes of paying the
County for, or reimbursing the County for development and/or construction of the
Interchange, conditioned only upon the Interchange being fully developed and constructed
prior to January 1, 2005. The commitment may take the form of an agreement to pay cash, an
assessment obligation through a special improvement district on property owned by BUYER,
or any similar or other commitment whereby BUYER would become obligated to make cash
payment or payments to the County to help pay for an Interchange if an Interchange is
fully constructed on or before January 1, 2005. BUYER may waive the right to impose or
enforce any condition of timely construction of the Interchange with respect to all or any
portion of the monetary commitment.
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|18.       
          Except (i) in privileged and confidential discussions with its accountants and
          attorneys, (ii) in internal communications between the officers, employees,
          managers and members of SELLER, (iii) as may be required by applicable law, (iv)
          as clearly contemplated and required by the terms and conditions set forth in
          this Agreement, (v) as expressly permitted in this Paragraph or by BUYER
          pursuant to BUYERS written consent (which may be withheld at BUYERS
          discretion), SELLER shall not communicate, disclose or permit the communication
          or disclosure by its officers, employees, managers, members, agents, attorneys,
          accountants or other representatives, to any person or party, any information
          whatsoever regarding the transaction that is the subject of this Agreement
          (including the existence of the transaction or this Agreement) or the nature of
          the activities or projects that BUYER may pursue on the Property.
          Notwithstanding the foregoing, after, but not before, Close of Escrow, SELLER
          may communicate and disclose (i) any statements and information released for
          publication or communicated publicly by BUYER or an authorized representative of
          BUYER and (ii) the fact that BUYER (or an affiliate of BUYER, if applicable),
          has acquired the Property as a site for potential development of a hotel casino.


     19.       
          BUYER warrants to SELLER that it has not retained the brokerage services of any
          real estate salesman, broker or finder other than BROKER relative to the
          transaction contemplated in this Agreement and has dealt with no such party
          other than BROKER and Bob McMonigle relative to the Property or the transaction
          contemplated in this Agreement. If Close of Escrow timely occurs, SELLER shall
          pay any resulting real estate brokerage commission and/or finders fee
          becoming due and payable to BROKER and/or Bob McMonigle and shall



indemnify BUYER and hold BUYER
harmless therefrom. All parties executing this Agreement understand and acknowledge that
BROKER represents SELLER in the transaction that is the subject of this Agreement.


     20.       
          If SELLER or any affiliate of SELLER desires to sell all or any portion of real
          property which SELLER or any such affiliate may now or hereafter own in the
          North Half (N 1/2) of the North Half (N 1/2) of the Westerly Property prior to
          (i) the cancellation of the transaction and Escrow contemplated in this
          Agreement or (ii) the expiration of two (2) years following Close of Escrow,
          whichever is first to occur, and if SELLER or the affiliate receives a bona fide
          written offer to purchase all or a portion of that real property on terms and
          conditions that SELLER or the affiliate is willing to accept, then SELLER shall
          cause the terms and conditions of that offer to be incorporated into a proposed
          written agreement between SELLER or the affiliate and BUYER, the provisions of
          which shall parallel and incorporate the provisions of this Agreement to the
          extent that they may be appropriately made to apply. A copy of the written offer
          originally received shall be attached as an exhibit to the written agreement.
          SELLER or the affiliate shall then execute the written agreement and deliver it
          to BUYER, offering to enter into the written agreement with BUYER. If the
          original written offer is based in part upon consideration to be paid other than
          cash or cash equivalent, BUYER shall have the right to pay cash equal to the
          fair market value of such consideration in lieu thereof, and the written
          agreement forwarded by SELLER shall so specify. BUYER, at its option, shall have
          ten (10) business days following receipt of the written agreement from SELLER
          within which to execute that agreement and return the fully executed agreement
          to SELLER. Unless the option is exercised by BUYER by the execution and return
          to SELLER of the agreement within those 10 business days, SELLER or the
          affiliate shall be free to accept the original offer with the offering party and
          shall be free to enter into the same agreement with that party. BUYER shall have
          the right to assign its rights hereunder from time to time to such assignees or
          nominees as BUYER, in its discretion, may designate.


     21.       
          GREENPARK hereby unconditionally and irrevocably guarantees the full, faithful
          and timely performance by SELLER of each and all of SELLERs obligations
          under this Agreement. GREENPARK agrees that any performances required of
          GREENPARK under this Paragraph shall be required immediately upon the occurrence
          of a default or failure of SELLER. GREENPARK waives any right or claim of right
          as a result of any defense arising out of the absence, impairment or loss of any
          right of reimbursement or subrogation. The obligations of COAST HOTELS AND
          CASINOS, INC. as BUYER hereunder, including, but not limited to
          those obligations of BUYER arising after Close of Escrow, shall not be
          terminated, released or reduced upon or because of the assignment by COAST
          HOTELS AND CASINOS, INC. of any right or interest under this Agreement,
          including, but not limited to any assignment or nomination of a party to acquire
          title to the Property as contemplated in Paragraph 5, or because of the transfer
          of the Property by COAST HOTELS AND CASINOS, INC. following Close of Escrow. The
          obligations of COAST HOTELS AND CASINOS, INC. as BUYER hereunder
          shall survive any such assignment, nomination or transfer of the Property.


     22.       
          The provisions of Paragraphs 24 through 42, inclusive, set forth in Exhibit
          C attached to this Agreement are incorporated herein as if set forth
          in full. PARAGRAPH 28 IN EXHIBIT A CONTAINS A LIQUIDATED DAMAGES
          PROVISION RELATING TO ANY BREACH BY BUYER OF ITS OBLIGATIONS TO PURCHASE THE
          PROPERTY.


     23.       
          Neither the preparation nor the delivery of this unsigned or partially signed
          document shall have any force or effect whatsoever. Further, this document shall
          be null and void and of no force or effect whatsoever unless before 5:00 p.m.,
          October 26, 2001 (time being of the essence) the ESCROW AGENT has received this
          Agreement (or counterparts of this Agreement) originally executed by all parties
          (other than itself) for whom signature space is provided below.


DATED
for purposes of reference as of the day and year first above written.
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|"SELLER"                                                  |                                       | "BUYER"                                            
|--------------------------------------------------------- | ------------------------------------- | ---------------------------------------------------
|SOUTH LAS VEGAS, LLC,a Delaware limited liability company |                                       | COAST HOTELS AND CASINOS, INC.,a Nevada corporation
|By                                                        | /s/  PETER J. KIESECKER               |                                                    
|                                                          | PETER J. KIESECKERPresident           |                                                    
|By                                                        | /s/  J. RANDY WHEELER                 |                                                    
|                                                          | J. RANDY WHEELERSenior Vice President |                                                    

|"BROKER"                                    |                             | "GREENPARK"                                              
|------------------------------------------- | --------------------------- | ---------------------------------------------------------
|CB RICHARD ELLIS, INC.,a Nevada corporation |                             | GREENPARK GROUP, LLC,a Delaware limited-liability company
|By                                          | /s/  JOHN KNOTT             |                                                          
|                                            | JOHN KNOTTManaging Director |                                                          
|                                            |                             |                                                          
|                                            |                             |                                                          

|The
undersigned UNITED TITLE OF NEVADA, INC. hereby agrees to act as the ESCROW AGENT for the
transaction that is the subject of this Agreement and hereby accepts this Agreement as its
instructions for purposes of that Escrow.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |    | UNITED TITLE OF NEVADA, INC.,a Nevada corporation       
| | -- | --------------------------------------------------------
| | By | /s/  ANGELINA S. GALINDO                                
| |    | ANGELINA S. GALINDOSenior Escrow OfficerSpecial Projects

|EXHIBIT A


PARCEL ONE (1):


The North Half (N 1/2) of the
Northeast Quarter (NE 1/4) of the Northwest Quarter (NW 1/4) of the Northeast Quarter (NE
1/4) of Section 29, Township 22 South, Range 61 East, M.D.B. & M.


PARCEL TWO (2):


The West Half (W 1/2) of the
Northwest Quarter (NW 1/4) of the Northwest Quarter (NW 1/4) of the Northeast Quarter (NE
1/4) of the Northeast Quarter (NE 1/4) of Section 29, Township 22 South, Range 61 East,
M.D.B. & M.


PARCEL THREE
(3):


The East Half (E 1/2) of the
Northwest Quarter (NW 1/4) of the Northwest Quarter (NW 1/4) of the Northeast Quarter (NE
1/4) of the Northeast Quarter (NE 1/4) of Section 29, Township 22 South, Range 61 East,
M.D.B. & M.


PARCEL FOUR (4):


The West Half (W 1/2) of the
Northeast Quarter (NE 1/4) of the Northwest Quarter (NW 1/4) of the Northeast Quarter (NE
1/4) of the Northeast Quarter (NE 1/4) of Section 29, Township 22 South, Range 61 East,
M.D.B. & M.


PARCEL FIVE (5):


The East Half (E 1/2) of the
Northeast Quarter (NE 1/4) of the Northwest Quarter (NW 1/4) of the Northeast Quarter (NE
1/4) of the Northeast Quarter (NE 1/4) of Section 29, Township 22 South, Range 61 East,
M.D.B. & M.


PARCEL SIX (6):


The North Half (N 1/2) of the North
Half (N 1/2) of the Northeast Quarter (NE 1/4) of the Northeast Quarter (NE 1/4) of the
Northeast Quarter (NE 1/4) of Section 29, Township 22 South, Range 61 East, M.D.B. &
M.


EXCEPTING THEREFROM the North
Fifty (50) Feet as conveyed to Clark County by deed recorded April 9, 1973 in Book 316,
Instrument Number 275855 of Official Records, Clark County, Nevada.


EXCEPTING THEREFROM any
portion of said land lying within State Highway 91-466.


PARCEL SEVEN
(7):


The Southwest Quarter (SW 1/4) of the
Northwest Quarter (NW 1/4) of the Northeast Quarter (NE 1/4) of the Northeast Quarter (NE
1/4) of Section 29, Township 22 South, Range 61 East, M.D.B. & M.


PARCEL EIGHT
(8):


The East Half (E 1/2) of the
Southeast Quarter (SE 1/4) of the Northwest Quarter (NW 1/4) of the Northeast Quarter (NE
1/4) of the Northeast Quarter (NE 1/4) of Section 29, Township 22 South, Range 61 East,
M.D.B. & M.



PARCEL NINE (9):


The South Half (S 1/2) of the North
Half (N 1/2) of the Northeast Quarter (NE 1/4) of the Northeast Quarter (NE 1/4) of the
Northeast Quarter (NE 1/4) of Section 29, Township 22 South, Range 61 East, M.D.B. &
M.


PARCEL TEN (10):


The North Half (N 1/2) of the South
Half (S 1/2) of the Northeast Quarter (NE 1/4) of the Northeast Quarter (NE 1/4) of the
Northeast Quarter (NE 1/4) of Section 29, Township 22 South, Range 61 East, M.D.B. &
M.


PARCEL ELEVEN
(11):


The Northwest Quarter (NW 1/4) of the
Southwest Quarter (SW 1/4) of the Northeast Quarter (NE 1/4) of the Northeast Quarter (NE
1/4) of Section 29, Township 22 South, Range 61 East, M.D.B. & M.


PARCEL TWELVE
(12):


The West Half (W 1/2) of the
Northeast Quarter (NE 1/4) of the Southwest Quarter (SW 1/4) of the Northeast Quarter (NE
1/4) of the Northeast Quarter (NE 1/4) of Section 29, Township 22 South, Range 61 East,
M.D.B. & M.


PARCEL THIRTEEN
(13):


The East Half (E 1/2) of the
Southwest Quarter (SW 1/4) of the Southwest Quarter (SW 1/4) of the Northeast Quarter (NE
1/4) of the Northeast Quarter (NE 1/4) of Section 29, Township 22 South, Range 61 East,
M.D.B. & M.


PARCEL FOURTEEN
(14):


The Southeast Quarter (SE 1/4) of the
Southwest Quarter (SW 1/4) of the Northeast Quarter (NE 1/4) of the Northeast Quarter (NE
1/4) of Section 29, Township 22 South, Range 61 East, M.D.B. & M.


PARCEL FIFTEEN
(15):


The Southwest Quarter (SW 1/4) of the
Northeast Quarter (NE 1/4) of the Northwest Quarter (NW 1/4) of the Northeast Quarter (NE
1/4) of Section 29, Township 22 South, Range 61 East, M.D.B. & M.


EXCEPTING THEREFROM those
portions designated as County Roads by Clark County in document recorded November 6, 1975
in Book 568 as Document No. 527123, Official Records, Clark County, Nevada.


PARCEL SIXTEEN
(16):


The Southeast Quarter (SE 1/4) of the
Northeast Quarter (NE 1/4) of the Northwest Quarter (NW 1/4) of the Northeast Quarter (NE
1/4) of Section 29, Township 22 South, Range 61 East, M.D.B. & M.


PARCEL SEVENTEEN
(17):


The West Half (W 1/2) of the
Southeast Quarter (SE 1/4) of the Northwest Quarter (NW 1/4) of the Northeast Quarter (NE
1/4) of the Northeast Quarter (NE 1/4) of Section 29, Township 22 South, Range 61 East,
M.D.B. & M.



PARCEL EIGHTEEN
(18):


The South Half (S 1/2) of the South
Half (S 1/2) of the Northeast Quarter (NE 1/4) of the Northeast Quarter (NE 1/4) of the
Northeast Quarter (NE 1/4) of Section 29, Township 22 South, Range 61 East, M.D.B. &
M.


EXCEPTING THEREFROM those
portions conveyed to Clark County for road purposes by Grant, Bargain, Sale Deed recorded
April 9, 1973 in Book 316, Instrument Number 275855, Official Records of Clark County,
Nevada.


PARCEL NINETEEN
(19):


The Northeast Quarter (NE 1/4) of the
Southeast Quarter (SE 1/4) of the Northwest Quarter (NW 1/4) of the Northeast Quarter (NE
1/4) of Section 29, Township 22 South, Range 61 East, M.D.B. & M.


PARCEL TWENTY
(20):


The East Half (E 1/2) of the
Northeast Quarter (NE 1/4) of the Southwest Quarter (SW 1/4) of the Northeast Quarter (NE
1/4) of the Northeast Quarter (NE 1/4) of Section 29, Township 22 South, Range 61 East,
M.D.B. & M.


PARCEL TWENTY-ONE
(21):


The North Half (N 1/2) of the North
Half (N 1/2) of the Southeast Quarter (SE 1/4) of the Northeast Quarter (NE 1/4) of the
Northeast Quarter (NE 1/4) of Section 29, Township 22 South, Range 61 East, M.D.B. &
M.


EXCEPTING THEREFROM the North
Thirty (30) Feet as conveyed to Clark County by deed recorded April 25, 1973 in Book 321
as Document Number 280898 of Official Records of Clark County, Nevada.


FURTHER EXCEPTING THEREFROM
any portion of said land lying within State Highway 91-466.


PARCEL TWENTY-TWO
(22):


The South Half (S 1/2) of the North
Half (N 1/2) of the Southeast Quarter (SE 1/4) of the Northeast Quarter (NE 1/4) of the
Northeast Quarter (NE 1/4) of Section 29, Township 22 South, Range 61 East, M.D.B. &
M.


EXCEPTING
THEREFROM any portion of said land lying within Las Vegas Boulevard (State
Highway 91-466)


PARCEL TWENTY-THREE
(23):


The North Half (N 1/2) of the South
Half (S 1/2) of the Southeast Quarter (SE 1/4) of the Northeast Quarter (NE 1/4) of the
Northeast Quarter (NE 1/4) of Section 29, Township 22 South, Range 61 East, M.D.B. &
M.


PARCEL TWENTY-FOUR
(24):


The South Half (S 1/2) of the South
Half (S 1/2) of the Southeast Quarter (SE 1/4) of the Northeast Quarter (NE 1/4) of the
Northeast Quarter (NE 1/4) of Section 29, Township 22 South, Range 61 East, M.D.B. &
M.


EXCEPTING THEREFROM any
portion of said land lying within Highway 91.


ALSO EXCEPTING THEREFROM that
portion relinquished to Clark County in Resolution of Relinquishment recorded January 21,
1982 in Book 1513 as Instrument Number 1472121, Official Records, Clark County, Nevada.


PARCEL TWENTY-FIVE
(25):


The West Half (W 1/2) of the
Southwest Quarter (SW 1/4) of the Southwest Quarter (SW 1/4) of the Northeast Quarter (NE
1/4) of the Northeast Quarter (NE 1/4) of Section 29, Township 22 South, Range 61 East,
M.D.B. & M.


PARCEL TWENTY-SIX
(26):


The Southeast Quarter (SE 1/4) of the
Southeast Quarter (SE 1/4) of the Northwest Quarter (NW 1/4) of the Northeast Quarter (NE
1/4) of Section 29, Township 22 South, Range 61 East, M.D.B. & M.


PARCEL TWENTY-SEVEN
(27):


The West Half (W 1/2) of the
Southeast Quarter (SE 1/4) of the Northwest Quarter (NW 1/4) of the Northeast Quarter (NE
1/4) of Section 29, Township 22 South, Range 61 East, M.D.B. & M.



EXHIBIT B


     1.       
          Completion of half-street improvements along the entire easterly boundary of the
          Property (Las Vegas Boulevard, South  State Highway 91-466). The
          half-street improvements include street paving, curb, gutter, sidewalk, street
          lights, fire hydrants, any required special turning lanes and bus turn-outs and
          any conduit and related facilities for traffic control signals and devices
          (although no traffic control signals or devices themselves). Special turning
          lanes, bus turn-outs and street median cuts shall be in locations designated by
          BUYER and acceptable to County. $450,000. (See Notes 1 and 2).


     2.       
          Completion of on-grade half-street improvements along the entire northerly
          boundary of the Property (Gomer Road/Silverado Ranch Road). The half-street
          improvements include street paving, curb, gutter, sidewalk, street lights, fire
          hydrants, any required special turning lanes and bus turn-outs and any conduit
          and related facilities for traffic control signals and devices (although no
          traffic control signals or devices themselves). Special turning lanes, bus
          turn-outs and street median cuts shall be in locations designated by BUYER and
          acceptable to County. $420,000. (See Notes 1 and 2).


     3.       
          Completion of half-street improvements consisting of the south half of LeBaron
          Avenue along the entire southerly boundary of the Property and the BLM Parcel.
          The half-street improvements include street paving, curb, gutter, sidewalk,
          street lights, fire hydrants, any required special turning lanes and bus
          turn-outs and any conduit and related facilities for traffic control signals and
          devices (although no traffic control signals or devices themselves). Special
          turning lanes, bus turn-outs and street median cuts shall be in locations
          designated by BUYER and acceptable to County. $0.00. (See Notes 1, 2 and 3).


     4.       
          Extension of sewer service to the Property in underground sewer lines with depth
          to service above-ground improvements on the entire Property and that extend
          along the entire Las Vegas Boulevard, South frontage of the Property and the
          entire Gomer Road/Silverado Ranch Road frontage of the Property. Capacity of
          extended sewer must be sufficient to accommodate 575,000 gallons per day of
          effluent from the Property. Included in the work would be up to five (5)
          appropriate sewer line laterals at locations designated by BUYER, extending from
          sewer lines to the property lines of the Property as they may exist following
          all dedications and the filing and recording of the Subdivision Documents.
          Included in such work would be all trenching, manholes and related facilities.
          $1,040,000. (See Note 1).


     5.       
          Extension of water service to the Property in underground water lines that
          extend along the entire Las Vegas Boulevard, South frontage of the Property and
          the entire Gomer Road/Silverado Ranch Road frontage of the Property. Capacity of
          extended water lines must be sufficient to provide a fire flow of 4500 gallons
          per minute in addition to a peak hour demand of 1,500 gallons per minute.
          Included in the work would be up to four (4) appropriate water line laterals at
          locations designated by BUYER extending from water lines to the property lines
          of the Property as they may exist following all dedications and the filing and
          recording of the Subdivision Documents. Included in such work would be all
          trenching and related facilities. $105,000. (See Note 1).


     6.       
          Extension of underground electrical conduit sufficient to supply 1.5 megawatts
          to the Property, telephone cable conduit consisting of eight (8) 4-inch conduits
          from power, telephone and cable service sources to the Property and extending
          along the entire Las Vegas Boulevard, South frontage of the Property and the
          entire Gomer Road/Silverado Ranch Road frontage of the Property. Included in
          such work would be all trenching and related facilities. $1,135,000. (See Note
          1).


     7.       
          Installation of any surface water drainage facilities required on the Property
          to accept and discharge surface water entering the Property from other
          locations, save and except for surface water originating on the land between
          Interstate 15 and the Property, immediately west of the Property. $0.00. (See
          Note 1).


     8.       
          Sellers Work shall also include completion and County approval and
          Acceptance of (i) drainage and traffic studies required as a condition of
          approval to County zoning application ZC-0667-01 and (ii) to the extent, but
          only to the extent, required in order to obtain 1) any grading permit for all or
          any portion of the Property or any roadway area contiguous to the Property, 2)
          any building permit for any improvement to be built on or contiguous to the
          Property, including any road, 3) Acceptance of any of Sellers Work or any
          other off-site improvement for the Property or 4) a certificate of occupancy for
          any building structure to be built on the Property, those physical improvements
          (including off-site improvements and surface water drainage facilities) required
          as a condition to County approval of ZC-0667-01, the above-noted drainage study
          or the above-noted traffic study, to be constructed on or contiguous to property
          owned or hereafter acquired by SELLER in Section 29, Township 22 South, Range 61
          East, M.D.B. & M. other than the Property. $0.00. (See Note 1).


Note 1: Sellers Work
shall include all planning, engineering, plan preparation, plan check and inspection work
required to do the foregoing work as well as the obligation to obtain all required
permits, post all required Improvement Bonds and enter into construction contracts for the
subject work. The costs and fees incurred in doing all of the foregoing, subject to the
provisions of Paragraph 15, shall be the responsibility of, and timely paid by SELLER.
Notwithstanding the foregoing, plan preparation and plan checks of Subdivision Improvement
Plans shall not constitute Sellers Work, SELLERS obligations with
respect to Subdivision Improvement Plans are set forth in Paragraph 12. Costs of
preparing, submitting and obtaining approval of all Land



Disturbance Reports and Land
Disturbance Permits and all MSHCP Mitigation Fees required pursuant to Chapters 30.32 and
30.80 of the Clark County, Nevada Code for development of the entirety of the Property
shall constitute Sellers Work and shall be the responsibility of, and timely paid
by, SELLER.


Note 2: SELLER will install
and construct turn lanes and bus turn-outs where they can be identified in the commercial
subdivision mapping process. The final configurations of turn lanes and bus turn-outs may
not be finally determined until completion of BUYERS County design review for
BUYERS proposed development, in which case SELLER would be relieved of obligations
to complete the turn lanes and bus turn-outs in the time frames referenced in this
Agreement. Such delay shall not delay the timing of payments which would be otherwise due
under the provisions of Paragraph 15.


Note 3: The improvements shall
be constructed and completed contemporaneously with the construction and completion of the
north half of LeBaron Avenue by BUYER, rather than in the time frames referenced in this
Agreement.



EXHIBIT C


     24.       
          SELLER shall pay and indemnify BUYER and hold BUYER and the Property harmless
          from and against any and all claims, liens, judgments, liabilities, costs,
          expenses (including attorneys fees), losses and damages incurred or
          suffered by BUYER and/or to which the Property becomes subject and that are
          asserted or arise by reason of, or that in any way relate to or result from (i)
          any fact or condition that is contrary to any warranted fact or condition set
          forth in Paragraph 7, whether BUYER becomes aware of the actual fact or
          condition prior to or after Close of Escrow, and regardless of whether or not
          BUYER waives the condition set forth in Subparagraph 10(d) with respect to the
          applicable warranty or (ii) subject to the provisions of Paragraphs 12 and 14,
          any failure or refusal of SELLER to timely fulfill any obligation or duty of
          SELLER under this Agreement. BUYER shall pay and indemnify SELLER and hold
          SELLER and the Property harmless from and against any and all claims, liens,
          judgments, liabilities, costs, expenses (including attorneys fees), losses
          and damages incurred or suffered by SELLER and/or to which the Property becomes
          subject and that are asserted or arise by reason of, or that in any way relate
          to or result from (i) any fact or condition that is contrary to any BUYER
          warranted fact or condition or (ii) except as provided in Paragraph 28, the
          provisions of which shall take precedence and priority over the provisions of
          this Paragraph, any failure or refusal of BUYER to timely fulfill any obligation
          or duty of BUYER under this Agreement. Notwithstanding anything in this
          Paragraph or any other provision of this Agreement to the contrary, SELLER shall
          not be liable for damages to BUYER for losses claimed by BUYER to have been
          incurred, or profits claimed by BUYER to have been lost relative to the
          operation of a hotel casino (or other business) or proposed hotel casino (or
          other business) on the Property.


     25.       
          Within three (3) business days of the date of this Agreement, SELLER shall
          provide BUYER with copies of all maps, plans, renderings, test reports, surveys
          and studies of which SELLER has knowledge and that are either in the possession
          of SELLER or that have been prepared by SELLER or on SELLERS behalf
          relative to the Property, all without cost to BUYER. The foregoing shall include
          soils reports, survey maps, desert tortoise studies and environmental and
          hazardous waste studies relating to the Property. SELLER hereby assigns to BUYER
          a non-exclusive right to the use of, and SELLERS proprietary interest in,
          all such maps, plans, renderings, test reports, surveys and studies as they
          relate to the Property; provided, however, that BUYERS rights and
          interests therein shall expire in the event of termination of the transaction
          that is the subject of this Agreement with Close of Escrow not having occurred.
          SELLER makes no warranties or representations, either express or implied,
          relative thereto. BUYER, its employees and contractors shall have the right,
          prior to Close of Escrow or termination of the transaction that is the subject
          of this Agreement to enter upon the Property to conduct such inspections,
          borings, surveys, studies and tests on the Property as BUYER may desire. BUYER
          shall pay or otherwise satisfy and indemnify SELLER and hold SELLER and the
          Property harmless from and against, any claims, liens, judgments, liabilities,
          costs, expenses, losses and damages incurred or suffered by SELLER and/or to
          which the Property becomes subject and that are caused by any such activities.
          If Close of Escrow fails to occur, then with respect to any physical condition
          on the Property resulting from any activity that is the subject of this
          Paragraph, BUYER shall thereafter restore the Property to the condition existing
          as of the date of this Agreement.


     26.       
          SELLER warrants to BUYER that SELLER is not a foreign person as that
          term is defined in Section 1445 of the U. S. Internal Revenue Code of 1986, as
          amended. SELLER shall deposit into Escrow, at or prior to Close of Escrow, an
          affidavit in such form and setting forth such information as may be required by
          the U. S. Internal Revenue Service (which information shall include
          SELLERS full name, address and taxpayer identification number) stating
          under penalty of perjury that SELLER is not a foreign person as so
          defined.


     27.       
          If Close of Escrow fails to timely occur without an extension that is expressly
          permitted in this Agreement because one or more conditions to a partys
          obligation to close Escrow (other than conditions consisting of one or more
          breaches of the other partys obligations or warranties under this
          Agreement) have not been fulfilled, tendered or waived, or if the transaction
          that is the subject of this Agreement is terminated pursuant to an express
          provision in this Agreement requiring or permitting such termination, then (i)
          the transaction that is the subject of this Agreement, the Escrow and the
          further rights and obligations of the parties (save and except for those rights
          and obligations specifically noted in Paragraph 35 as surviving termination)
          shall terminate; (ii) BUYER and SELLER shall equally bear all costs, fees and
          expenses incurred with and through the ESCROW AGENT; and (iii) the ESCROW AGENT
          shall return to the depositing party, all documents and monies. SELLER shall
          promptly perform all acts and provide all written consents and agreements
          requested by the ESCROW AGENT and/or BUYER to permit expeditious disbursement to
          BUYER of the Deposit and all other sums that have been deposited into Escrow by
          BUYER.


     28.       
          Notwithstanding anything in the immediately preceding Paragraph to the contrary,
          if (i) all conditions to BUYERS obligations to close Escrow set forth in
          Paragraph 10 have been fulfilled or waived, (ii) the time for Close of Escrow
          has expired without expressly permitted or agreed extension and (iii) BUYER has
          failed to timely close Escrow, then the transaction that is the subject of this
          Agreement and the Escrow shall terminate. In such event, BUYER shall bear all
          fees, costs and expenses incurred with and through the ESCROW AGENT, and the
          ESCROW AGENT shall return to the depositing party, all documents that have been
          placed in Escrow. In such case, SELLER, as its sole and exclusive remedy against
          BUYER, both at law and in equity, shall be entitled to obtain and retain the
          Deposit as liquidated damages in full and complete settlement and payment of all
          of SELLERS claims, causes of action and rights against BUYER for costs,
          expenses and damages (including consequential damages) resulting from the
          breach, default or failure of BUYER to purchase the Property and effect Close of
          Escrow under this Agreement, including all claims, causes of action and rights
          which are known or unknown, anticipated or unanticipated, all other rights,
          remedies and recourse therefor against BUYER being hereby expressly waived by
          SELLER. The parties agree that the exact amount of costs, expenses and damages
          incurred and suffered by SELLER would be difficult to determine and that the
          amount of the Deposit is a reasonable estimate of that amount. Notwithstanding
          anything in the immediately preceding Paragraph or elsewhere in this Agreement
          to the contrary, if Close of Escrow fails to timely occur after the failure of
          SELLER to fulfill an obligation of SELLER under this Agreement, after the
          failure of a condition resulting from the breach of an obligation or warranty of
          SELLER under this Agreement, or upon the breach of any warranty of SELLER under
          this Agreement, then, in any of such events, BUYER shall have available all
          remedies at law or in equity.


     29.       
          All elections, notices, consents, requests, claims, demands, approvals, waivers,
          deliveries and other communications permitted, desired or required to be given
          hereunder (referred to collectively herein as notice[s])
          shall be in writing and shall be effective and deemed to be both
          given and received (i) when hand delivered to the
          address of the receiving party, (ii) when delivered to the address of the
          receiving party by Express Mail, Federal Express or other commercial delivery
          service, (iii) on the third business day following deposit in the United States
          mail as certified or registered mail, return receipt requested or (iv) when
          successfully transmitted by telecopier transmission, in any of such cases,
          delivered, addressed or dispatched as follows:
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-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |             |                                |                                                                                                                                                                                                                                                                                                           
| | ----------- | ------------------------------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | "SELLER"    | SOUTH LAS VEGAS, LLC          
| |             |                                | Attn:  Mr. Randy Wheeler
3030 Old Ranch Parkway, Suite 450Seal Beach, California  90740[Facsimile No.:  (562) 430-4337]
With copy given in the foregoingmanner to:ANTHONY PIEROTTIIrell & Manella, LLP
840 Newport Center Drive, Suite 400Newport Beach, California  92660[Facsimile No.:  (949) 760-5200]
| | "GREENPARK" | GREENPARK GROUP, LLC          
| |             |                                | Attn:  Mr. Randy Wheeler
3030 Old Ranch Parkway, Suite 450Seal Beach, California  90740[Facsimile No.:  (562) 430-4337]
With copy given in the foregoingmanner to:ANTHONY PIEROTTIIrell & Manella, LLP
840 Newport Center Drive, Suite 400Newport Beach, California  92660[Facsimile No.:  (949) 760-5200]
| | "BUYER"     | COAST HOTELS AND CASINOS, INC.
| |             |                                | Attn:  Michael Gaughan
4500 West Tropicana AvenueLas Vegas, Nevada  89103[Facsimile No.:  (702) 365-7566]
With copy given in the foregoingmanner to:K. MICHAEL LEAVITT
Leavitt, Sully & Rivers601 East Bridger AvenueLas Vegas, Nevada  89101[Facsimile No.:  (702) 382-2892]                             

|
|

| | "ESCROW AGENT" | UNITED TITLE OF NEVADA, INC.
| | -------------- | ----------------------------
| |                |                             

|A party entitled to receive notices
hereunder may, from time to time, change its address for receiving notices by giving
written notice in the manner set forth above.


     30.       
          The provisions of this document have been negotiated by all parties to this
          Agreement and shall therefore not be interpreted or construed in favor of, or
          with prejudice against, any particular party, but in accordance with the general
          tenor of the language used.


     31.       
          This Agreement may be executed in two or more counterparts. A set of
          counterparts containing the signatures of all parties shall have the same effect
          as a single Agreement containing the signatures of all parties. Facsimile
          signatures shall have the same force and effect as original signatures.


     32.       
          This Agreement shall bind and inure to the benefit of the respective heirs,
          executors, administrators, representatives, successors and assigns of the
          parties. Except as provided in the foregoing sentence, no party other than a
          signator to this Agreement is an intended beneficiary of this Agreement, and
          this Agreement shall not be enforceable by any creditor of a party. Nor shall
          this Agreement be enforceable by any grantee of SELLER relative to other real
          property. No such grantee shall be considered a representative,
          successor or assignee of SELLER for purposes of the
          first sentence of this Paragraph.


     33.       
          If legal action is initiated relative to this Agreement or the rights or
          obligations of any party under this Agreement, the parties stipulate and agree
          that such action must seek only the remedies available to the parties under this
          Agreement and must be initiated, maintained and continued in the Eighth Judicial
          District Court of the State of Nevada in Clark County, Nevada. The
          non-prevailing parties in that action shall pay reasonable attorneys fees
          to the prevailing parties, with the amounts to be determined by the court in
          that action. The laws of the State of Nevada shall govern the validity,
          construction, performance and effect of this Agreement.


     34.       
          This Agreement contains the entire agreement between the parties with respect to
          the Property and the transaction that is the subject of this Agreement and
          supersedes and replaces any and all prior and contemporaneous discussions,
          negotiations, correspondence, understandings and agreements between the parties
          relating in any way to the transaction. This Agreement may be amended,
          supplemented or modified by, but only by, a written document executed by both
          BUYER and SELLER. A waiver by a party of any condition, duty or obligation shall
          not constitute a waiver of any other condition, duty or obligation or a
          continuing waiver of the same, subsequently arising condition, duty or
          obligation.


     35.       
          Subject to the provisions of Paragraph 28, but notwithstanding any other
          provision of this Agreement to the contrary, the provisions, warranties, rights
          and obligations of the parties that are set forth in Paragraphs 7, 8, 12, 13,
          14, 15, 16, 17, 18, 19, 20, 21, 22, 24, 25, 26, 27, 28, 29, 30, 32, 33, 34, 35,
          36, 37, 39, 40, 41, and 42 shall survive Close of Escrow, transfer of title to
          the Property, delivery of the Deed. Those provisions, warranties, rights and
          obligations shall not be merged into or with the Deed at Close of Escrow.
          Subject to the provisions of Paragraph 28 but notwithstanding any other
          provision of this Agreement to the contrary, the provisions, warranties, rights
          and obligations of the parties that are set forth in Paragraphs 7, 8, 18, 19,
          21, 22, 24, 25, 27, 28, 29, 30, 32, 33, 34, 35, 36, 37 and 39 shall survive the
          cancellation and termination of the Escrow and the transaction that is the
          subject of this Agreement and the termination of the other rights and
          obligations of the parties under this Agreement.


     36.       
          Masculine, feminine and neuter pronouns shall be substituted freely for each
          other, and the plural and singular forms of pronouns shall be substituted freely
          for each other in any provision of this Agreement in which the context
          appropriately requires such substitution. Any reference in this Agreement to
          time of day refers to local time in Las Vegas, Nevada. Any reference in this
          Agreement to a business day refers to a day that is not a Saturday,
          Sunday or legal holiday (or observed as a legal holiday) for Nevada state
          governmental offices pursuant to Nevada Revised Statutes. Unless otherwise
          expressly provided in this Agreement, reference in this Agreement to the
          discretion of a party means the partys sole and absolute
          discretion. Unless otherwise expressly provided in this Agreement, such
          discretion shall not be subject to any external standard, including but not
          limited to, any standard of custom, good faith or reasonableness.


     37.       
          Any remedies noted in this Agreement are not intended to be exclusive of other
          remedies that would be available upon occurrence of the events giving rise to
          such remedies unless such exclusivity is expressly stated. Any remedies that are
          noted in this Agreement without mention of exclusivity are to be in addition to
          any and all other remedies available at law or in equity.


     38.       
          The recitals to this Agreement are hereby incorporated into this Agreement as
          substantive agreements, acknowledgments, stipulations and understandings of all
          parties hereto.


     39.       
          The ESCROW AGENT is hereby authorized by each of the parties to disburse funds
          and to deliver and record such documents as may be appropriate in accordance
          with the terms of this Agreement. If this Agreement or any other matter related
          to the transaction that is the subject of this Agreement becomes the subject of
          any litigation or controversy, BUYER and SELLER agree to jointly and severally
          hold the ESCROW AGENT free and harmless from resulting associated loss or
          expense, including reasonable attorneys fees, that may be suffered by the
          ESCROW AGENT unless the loss or expense results from an act or omission of the
          ESCROW AGENT. If either BUYER or SELLER gives written claim or notice to the
          ESCROW AGENT that the transaction that is the subject of this Agreement and the
          Escrow have terminated, the ESCROW AGENT shall (i) provide the other party
          (BUYER or SELLER) with a copy of that claim or notice and (ii) give further
          notice to that party that the ESCROW AGENT shall consider the transaction and
          Escrow terminated and shall perform as provided in this Agreement unless that
          party gives the ESCROW AGENT a conflicting notice or claim within five (5)
          business days of the date the ESCROW AGENTS notice is given to that party;
          provided, however, that if this Agreement directs the ESCROW AGENT to follow a
          particular course of conduct in such instance, the ESCROW AGENT may, at its
          option, perform as directed by this Agreement without the necessity of
          communicating with the other party or providing the other party with a copy of
          the claim or notice. If the ESCROW AGENT elects to provide or is required to
          provide the other party with a copy of the claim or notice, then unless
          conflicting notice or claim is given to the ESCROW AGENT by that party within
          those 5 business days, the ESCROW AGENT may thereupon and shall thereupon
          perform as provided in this Agreement, and particularly as provided in the
          applicable Paragraph 27 or 28. If conflicting demands, claims or notices are
          given to the ESCROW AGENT with respect to this Agreement, the ESCROW AGENT shall
          be entitled to refrain from any further action until it shall have received
          further instructions executed by BUYER and SELLER or, in the alternative, the
          ESCROW AGENT shall be entitled to file a suit in interpleader following twenty
          (20) days notice to BUYER and SELLER of its intent to do so. Upon filing
          of any action in interpleader and the deposit of all documents and funds in its
          possession with the Eighth Judicial District Court of the State of Nevada or
          such other depository as may be agreed upon by the parties, the ESCROW AGENT
          shall be fully released and discharged from any further obligation imposed upon
          it by this Agreement. The ESCROW AGENT shall not be liable in its capacity as
          such for any deficiency or correctness as to format or execution or validity of
          any instruments deposited with it, nor as to the identity, authority or rights
          of any person executing them, nor for the failure by any person other than the
          ESCROW AGENT to comply with any of the provisions of any agreement, contract or
          any other instrument deposited with the ESCROW AGENT or referred to in this
          Agreement. The ESCROW AGENTS duties hereunder shall be limited to the
          safekeeping of all monies, instruments and other documents received by it as the
          ESCROW AGENT and for disposition in accordance with the terms of this Agreement
          or as the ESCROW AGENT may be further instructed.


     40.       
          Without the prior written consent of BUYER, neither SELLER nor GREENPARK shall
          bid, nor shall either SELLER or GREENPARK permit any person or entity affiliated
          with that party to bid at any Bureau of Land Management land auction or sale for
          the acquisition of any parcel of land located in the North Half (N 1/2) of the
          North Half (N 1/2) of the Westerly Property. Nor shall SELLER facilitate or
          otherwise encourage any other party to so bid. Further, SELLER agrees to
          cooperate with BUYER on a confidential basis with respect to the acquisition by
          BUYER of any such parcel and render such assistance to BUYER in that regard as
          may be reasonably requested by BUYER, but at no material cost to SELLER.


     41.       
          Following Close of Escrow, BUYER and SELLER agree to reasonably cooperate with
          each other to provide such reasonable temporary construction easements from time
          to time on and along the boundaries of the Property and the boundaries of any
          property of SELLER in the immediate vicinity of the Property to permit BUYER and
          SELLER to construct and install off-site improvements relating to the
          development of the Property and the development of the property of SELLER in the
          immediate vicinity of the Property.


     42.       
          Time is of the essence with respect to each performance required of BUYER and
          SELLER hereunder, notwithstanding any other and additional references which may
          be made in this Agreement to time being of the essence (which other and
          additional references are simply for purposes of reminder and emphasis).



EXHIBIT D


Possible Version of
Bond


COMPLETION BOND
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|Bond No.: |  |  | Principal Amount: | 
|--------- |  |  | ----------------- | 

|KNOW
ALL MEN BY THESE PRESENTS, that we SOUTH LAS VEGAS, LLC, a Delaware limited liability
company as Principal, and __________________, a _____________ corporation, as Surety, are
held and firmly bound unto COAST HOTELS AND CASINOS, INC., a Nevada corporation, as
Obligee, in the penal sum of THREE MILLION FIVE HUNDRED THOUSAND DOLLARS ($3,500,000.00),
lawful money of the United States of America, for the payment of which well and truly to
be made, we bind ourselves, our heirs, executors, administrators, successors and assigns,
jointly and severally, firmly by these presents:


WHEREAS,Principal has agreed to construct in Clark County, Nevada the following improvements:
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | Each
and all of those improvements referred to as Sellers Work in, and
described in Exhibit B to, that certain document entitled Property
Purchase Agreement and Escrow Instructionsdated and made effective as of
October 26, 2001 (Agreement),made and entered into by and
between Principal as SELLER, Obligee as BUYER, and other parties,
the subject of which Agreement is the acquisition of certain real property located in the
North Half (N 1/2) of the Northeast Quarter (NE 1/4) of Section 29, Township 22 South,
Range 61 East, M.D.B. & M. by Obligee from Principal,
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|NOW, THEREFORE,
THE CONDITION OF THIS OBLIGATION IS SUCH, that if the said Principal shall construct, or
have constructed, the improvements herein described, and shall save the Obligee harmless
from any loss, cost or damage by reason of its failure to complete said work, then this
obligation shall be null and void, or if said Principal shall post a bond or bonds, with
Clark County, Nevada or a utility-providing agency or company, for all or substantially
all of Sellers Work described in a numbered paragraph on such Exhibit Breferred
to above, then the Principal Amount of this obligation to be paid by the Obligee for the
described Sellers Work shall be reduced in amount by the dollar amount noted in
such numbered paragraph, otherwise to remain in full force and effect, and the Surety,
upon receipt of written notice from Obligee that a Sellers Work Default(as
provided in Paragraph 14 of the Agreement) has occurred, indicating that the improvements
have not been installed or completed, will complete the improvements or pay to the
Obligee such amount up to the Principal amount of this bond which will allow the Obligee
to complete the improvements. If Surety elects to complete the improvements and to enter
into a new construction contract or contracts therefor, Surety agrees to negotiate in
good faith with J. A. Tiberti Construction Company, Inc., a Nevada corporation, to serve
as general contractor under the contract or contracts.
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Upon
approval by the Obligee, this instrument may be proportionately reduced as the subject
improvements are completed.


Signed,
sealed and dated this _____ day of __________, 2001.
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|"PRINCIPAL" |  | "SURETY"
|----------- |  | --------
|            |  |         
|By          |  |         
|            |  |