filing of such application up to
a maximum total of Twenty Thousand Dollars ($20,000.00), Ten Thousand Dollars
($10,000.00) of which will be refunded to Tenant in the form of applying it to
Tenant's next month's rent should Tenant receive its gaming license(s) on or
before April 1, 1999.
5
E.
PLACE OF PAYMENT. RENT AND SUCH OTHER
CHARGES AS TENANT IS REQUIRED TO PAY LANDLORD SHALL BE PAYABLE AT LANDLORD'S
NOTICE ADDRESS REFLECTED IN SECTION 16.E HEREOF.
F.
DEPOSITS. TENANT SHALL PAY LANDLORD THE
FOLLOWING LEASE DEPOSITS:
(1)
UPON (A) EXECUTION OF THIS LEASE BY BOTH
PARTIES, AND (B) DELIVERY TO TENANT OF A TITLE INSURANCE POLICY ACCEPTABLE TO
TENANT, AS DESCRIBED IN SECTION 6 OF THIS LEASE, A FIFTEEN THOUSAND DOLLARS
($15,000.00) NON-REFUNDABLE DEPOSIT.
(2)
ON THE COMMENCEMENT DATE, A DEPOSIT IN THE
AMOUNT OF ONE HUNDRED FORTY-FOUR THOUSAND DOLLARS ($144,000.00), NINETY-SIX
THOUSAND DOLLARS ($96,000.00) OF WHICH SHALL BE CREDITED TO THE FIRST EIGHT (8)
MONTHS RENT DUE DURING THE INITIAL TERM, AND THE FORTY-EIGHT THOUSAND DOLLAR
($48,000.00) BALANCE OF WHICH WILL BE CREDITED AGAINST THE LAST FOUR (4) MONTHS
RENT OWED DURING THE INITIAL TERM, EXACT THAT, THE FORTY-EIGHT THOUSAND DOLLAR
($48,000.00) BALANCE SHALL BE RETURNED TO TENANT IN THE EVENT THIS LEASE IS
TERMINATED BY EITHER PARTY PRIOR TO EXPIRATION OF THE INITIAL TERM UNLESS
OTHERWISE PROVIDED HEREIN.
4.
USE OF PREMISES.
A.
TENANT SHALL USE THE PREMISES PRIMARILY AS
A GAMING CASINO, AS CONTEMPLATED BY THE COLORADO LIMITED GAMING ACT, C.R.S.
§ 12-47.1-101, ET SEQ. (THE "GAMING ACT") (THE GAMING ACT AND ALL AMENDMENTS AND
GAMING REGULATIONS NOW EXISTING OR HEREAFTER ADOPTED, AND ALL GAMING RELATED
LAWS OF THE CITY OF CRIPPLE CREEK AND THE COUNTY OF TELLER, ARE SOMETIMES
COLLECTIVELY REFERRED TO IN THIS LEASE AS THE "GAMING LAWS"), AND SECONDARILY
FOR ANY OTHER ANCILLARY OR RELATED USE AS MAY BE PERMITTED BY LAW. SUBJECT TO
THE GAMING LAWS, TENANT SHALL, IN ITS SOLE DISCRETION, DETERMINE THE TYPES,
NUMBER AND LOCATIONS OF GAMING DEVICES ON THE PREMISES AND THE RULES AND
PROCEDURES WHICH WILL GOVERN THE PREMISES' OPERATION AS A GAMING CASINO.
LANDLORD SHALL HAVE NO CONTROL OVER OR POWER TO INFLUENCE DECISIONS CONCERNING
OPERATION OF THE PREMISES.
B.
WITHOUT LIMITING THE GENERALITY OF THE
PROVISIONS OF SECTION 4.A, TENANT SHALL DURING THE LEASE TERM (1) COMPLY WITH
ALL GAMING LAWS, AND (2) MAINTAIN IN FORCE ALL LICENSES, CONSENTS AND PERMITS
NECESSARY FOR THE USE OF THE PREMISES AS A GAMING CASINO.
C.
LANDLORD AGREES TO COOPERATE AS
REASONABLY REQUIRED BY TENANT TO ASSIST TENANT IN OBTAINING AND MAINTAINING
GAMING AND LIQUOR LICENSES FOR THE PREMISES AND SHALL, IN PARTICULAR, EXECUTE
ANY AND ALL DOCUMENTS NECESSARY TO OBTAIN GAMING AND LIQUOR LICENSES. LANDLORD
SHALL NOT CAUSE ANY SUCH LICENSES TO BE DENIED, REVOKED, NOT RENEWED, OR
SUSPENDED, WHETHER THROUGH ACTIONS OF LANDLORD PRIOR TO THE ISSUANCE OF SUCH
LICENSES OR THEREAFTER DURING THE LEASE TERM. IF LANDLORD OR TENANT RECEIVES
NOTICE THAT THE STATUS OR ACTIONS OF LANDLORD MAY OR WILL RESULT, OR HAVE