Exhibit
10.13


SUBJECT TO REVISION IN ACCORDANCE WITH THE
PLAN 


GREEKTOWN LITIGATION TRUST


8% Promissory Note


	
  

 	
  

 
	
  

 	
 [______] [___], 20[10]

 
	
 U.S.$375,000

 	
 Detroit, Michigan

 




          FOR
VALUE RECEIVED, the undersigned, GREEKTOWN LITIGATION TRUST, a liquidating trust
established pursuant to Section 4.12 of the Plan and the Litigation Trust
Agreement (as defined below) (the “Issuer”), hereby promises to pay to
[REORGANIZED CASINO], a Michigan limited liability company (such entity or its
assigns, the “Holder”) and its assigns, (a) the principal sum three hundred
seventy-five thousand dollars ($375,000), plus all accrued and unpaid interest,
on [_______] [__], 20[__], provided that such date shall be deemed to be
automatically extended to the date of dissolution of the Litigation Trust
pursuant to the terms, and subject to the limitations, of Section 9.1 of the
Litigation Trust Agreement (the “Final Maturity Date”), and (b) simple interest
payable on the Final Maturity Date at a rate equal to 8.00% per annum multiplied
by the average daily outstanding principal amount under this note for the
relevant period, until all of the outstanding principal amount hereof shall
have been repaid.  


          This
note evidences the Litigation Trust Loan described in Section 2.3(a) of the
Litigation Trust Agreement. Capitalized terms used but not otherwise defined
herein shall have the meaning ascribed to such terms in that certain Greektown
Litigation Trust Agreement, dated as of [________] [__], 20[10], pursuant to
which the Issuer was established (as amended, supplemented or otherwise
modified from time to time, the “Litigation Trust Agreement”).  


          Payments
of principal of and interest on this note are to be made in lawful currency of
the United States of America at the principal office of the Holder as provided
below. 


          The
Issuer may prepay principal of and interest on this note at any time, without
penalty. Amounts prepaid may be re-borrowed. The Issuer shall repay principal
of and interest on this note in accordance with, and subject to, the Litigation
Distribution Schedule. 


          This
note can be assigned or transferred (whether absolutely, by way of security or
otherwise) by the Holder in its sole discretion. 


          The
Issuer will repay all of the outstanding principal amount of the note and all
accrued and unpaid interest on the Final Maturity Date in accordance with, and
subject to, the Litigation Distribution Schedule. 


          If
the Issuer fails to repay any principal or interest when due in accordance
with, and subject to, the Litigation Distribution Schedule and such failure to
pay is continuing, the principal of this note may be declared or otherwise
become immediately due and payable. 


          The
Holder of this note shall have recourse only to the Litigation Trust Assets in
accordance with, and subject to, the Litigation Distribution Schedule. The
Holder, by acceptance of this note, covenants and agrees that no recourse may
be taken, directly or indirectly, with respect to the obligations of the
Litigation Trust under this note, against (i) the Litigation Trustee 






SUBJECT TO REVISION IN ACCORDANCE WITH THE
PLAN 


or, (ii) the
members of the Litigation Trust Governing Board, (iii) any owner of a
beneficial interest in the Litigation Trust, or (iv) any agent, officer,
director or employee of the Litigation Trust, the Litigation Trustee, or any
holder of a beneficial interest in the Litigation Trust. 


          This
note shall be construed in accordance with, and this note and all matters
arising out of or relating in any way whatsoever (whether in contract, tort or
otherwise) to this note shall be governed by and construed in accordance with,
the law of the State of Michigan. 


[GREEKTOWN
LITIGATION TRUST] 


	
  

 	
  

 	
  

 
	
 By:

 	
  

 	
  

 
	
  

 	

 


 	
  

 
	
  

 	
 Name:

 	
  

 
	
  

 	
 Title:

 	
  

 
	
  

 
	
 Address for
Payments:  

 



[INSERT
ADDRESS] 


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