IN FULL, TRUSTOR
(I) SHALL NOT HAVE ANY RIGHT OF SUBROGATION TO ANY OF THE RIGHTS OF BENEFICIARY
AGAINST ANY GUARANTOR, MAKER OR ENDORSER; (II) WAIVES ANY RIGHT TO ENFORCE ANY
REMEDY WHICH BENEFICIARY OR TRUSTOR NOW HAS OR MAY HEREAFTER HAVE AGAINST ANY
OTHER GUARANTOR, MAKER OR ENDORSER; (III) WAIVES ANY BENEFIT OF, AND ANY OTHER
RIGHT TO PARTICIPATE IN, ANY COLLATERAL SECURITY FOR THE OBLIGATIONS OR ANY
GUARANTY OF THE OBLIGATIONS NOW OR HEREAFTER HELD BY BENEFICIARY.
(E)
TRUSTOR EXPRESSLY WAIVES ALL SURETYSHIP DEFENSES THAT TRUSTOR MAY
HAVE UNDER NEVADA LAW AND THE LAWS OF ANY OTHER STATE.
SECTION 15.3.
INCORPORATED STATUTORY PROVISIONS.
TO THE EXTENT NOT
INCONSISTENT WITH THE OTHER PROVISIONS OF THIS SECURITY INSTRUMENT OR THE OTHER
LOAN DOCUMENTS, THE FOLLOWING COVENANTS, NOS. 1, 2 (FULL REPLACEMENT VALUE), 3,
4 (DEFAULT RATE UNDER NOTE), 5, 6, 7 (A REASONABLE PERCENTAGE), 8 AND 9 OF
NEVADA REVISED STATUES § 107.030 ARE HEREBY ADOPTED AND MADE A PART OF THIS
SECURITY INSTRUMENT.
30
SECTION 15.4.
GAMING MATTERS.
BENEFICIARY ACKNOWLEDGES THAT TO THE
EXTENT THE EXERCISE OF ITS RIGHTS, REMEDIES AND POWERS HEREUNDER ARE SUBJECT TO
GAMING LAWS, BENEFICIARY SHALL OBTAIN CONSENTS OR APPROVALS AS REQUIRED BY SUCH
GAMING LAWS.
BENEFICIARY AND TRUSTEE ACKNOWLEDGE, UNDERSTAND AND AGREE THAT, TO
THE EXTENT THE PRIOR APPROVAL OF THE NEVADA GAMING AUTHORITIES IS REQUIRED
PURSUANT TO APPLICABLE LAW FOR THE EXERCISE, OPERATION AND EFFECTIVENESS OF ANY
REMEDY HEREUNDER, OR THE TAKING OF ANY ACTION THAT MAY BE TAKEN BY BENEFICIARY
OR TRUSTEE HEREUNDER, INCLUDING WITHOUT LIMITATION THE TAKING OF POSSESSION AND
DISPOSITION OF COLLATERAL CONSISTING OF GAMING DEVICES, CASHLESS WAGERING
SYSTEMS AND MOBILE GAMING SYSTEMS (AS THOSE TERMS ARE DEFINED IN NEVADA REVISED
STATUTES CHAPTER 463), SUCH REMEDY OR ACTION SHALL BE SUBJECT TO SUCH PRIOR
APPROVAL OF THE NEVADA GAMING AUTHORITIES AND THE BENEFICIARY OR TRUSTEE MAY BE
SUBJECT TO BEING CALLED FORWARD FOR LICENSING OR A FINDING OF SUITABILITY.
SECTION 15.5.
SECURITY AGREEMENT.
THIS SECURITY INSTRUMENT CONSTITUTES
A SECURITY AGREEMENT AS THAT TERM IS DEFINED IN THE NEVADA UNIFORM COMMERCIAL
CODE, PORTIONS OF THE COLLATERAL ARE GOODS THAT ARE OR ARE TO BECOME FIXTURES ON
THE LAND DESCRIBED IN EXHIBIT A ATTACHED HERETO.
THIS INSTRUMENT IS INTENDED TO
SERVE AS A FIXTURE FILING AND IS TO BE RECORDED IN THE REAL ESTATE RECORDS OF
CLARK COUNTY, NEVADA AND INDEXED AS BOTH A DEED OF TRUST AND A FIXTURE FILING.
TRUSTOR IS THE OWNER OF A RECORD INTEREST IN THE LAND DESCRIBED IN EXHIBIT A
ATTACHED HERETO.
TRUSTOR IS THE DEBTOR AND BENEFICIARY IS THE SECURED PARTY.
SECTION 15.6.
FUTURE ADVANCES.
THIS SECURITY INSTRUMENT IS GOVERNED BY
NEVADA REVISED STATUTES SECTIONS ("NRS") 106.300 TO 106.400 AND SECURES FUTURE
ADVANCES AS PROVIDED IN SUCH SECTIONS.
THE MAXIMUM AMOUNT OF "PRINCIPAL" (AS
DEFINED IN NRS SECTION 106.345) SECURED HEREBY (INCLUDING DISBURSEMENTS THAT THE
LENDER MAY, BUT SHALL NOT BE OBLIGATED TO, MAKE UNDER THIS SECURITY INSTRUMENT,
THE LOAN DOCUMENTS OR ANY OTHER DOCUMENT WITH RESPECT THERETO) SHALL NOT EXCEED)
($820,000,000) DOLLARS.
THIS