Document:

EXHIBIT 10.10.4

 

“THE LIENS GRANTED PURSUANT
TO THIS INSTRUMENT ARE SUBJECT AND SUBORDINATE TO THE LIENS GRANTED TO BANK OF
AMERICA, N.A., AS ADMINISTRATIVE AGENT, PURSUANT TO AN INTERCREDITOR AGREEMENT
DATED AS OF March 5, 2002 WITH BANK OF AMERICA, N.A., AS ADMINISTRATIVE AGENT
(THE ‘INTERCREDITOR AGREEMENT’).”

 

	
  RECORDING REQUESTED BY:

  	
   

  	
  APN Numbers: 077-291-25

  
	
  AND WHEN RECORDED MAIL TO:

  	
   

  	
  077-293-19

  

 

	
  Milbank Tweed Hadley & McCloy, LLP

  
	
  601 S. Figueroa St., 30th Floor

  
	
  Los Angeles, CA 90017

  
	
  Attention: Matthew S. Meza, Esq.

  

 

	
   

  	
   

  

 

ASSIGNMENT OF RENTS AND REVENUES

 

THIS ASSIGNMENT OF RENTS AND REVENUES
(this “Assignment”)
is made and entered into as of February
26, 2002, by CIRCUS AND ELDORADO JOINT VENTURE, a Nevada
general partnership (“Assignor”),
and THE BANK OF NEW YORK, as Trustee
(“Trustee”), with reference to the
following Recitals:

 

RECITALS:

 

A.            Assignor
is the owner of that certain real property situated in the County of Washoe,
State of Nevada, that is more particularly described on Exhibit A
affixed hereto and by this reference incorporated herein and made a part hereof
(the “Real
Property”).

 

B.            Assignor
and Trustee, as Indenture Trustee, and the other parties signatory thereto have
entered into an Indenture dated as of even date herewith (said Indenture, as it
may hereafter be amended, supplemented or otherwise modified from time to time,
being the “Indenture”) with
respect to 10 1/8% Mortgage Note due
2012 (the “Notes”) issued and to
be issued by Assignor and Silver Legacy Capital Corp., a Nevada
corporation (“Capital”).

 

C.            Pursuant
to the Indenture and subject to the terms and conditions specified therein, it
is a condition to the issuance and sale of the Notes pursuant to the Purchase
Agreement dated as of February 22, 2002, by and among the Assignor, Capital and
the Initial Purchasers named therein that all of Assignor’s right, title and
interest in and to all rents, issues, profits, products, earnings, income,
royalties, proceeds, payments and revenues, including, without limitation,
rentals, revenues, receipts, payments, income and deposits of any nature
whatsoever now and in the future derived from or received with respect to hotel

 

 

rooms,
banquet facilities, convention facilities, retail premises, bars, restaurants,
casinos and any other facilities, relating to or derived from the Real Property
or from leases, subleases, licenses, concessions, franchises or other use or
occupancy agreements covering any of the Real Property (collectively, the “Rents and
Revenues”), be assigned to Trustee upon the terms and conditions set
forth hereinbelow.

 

D.            Capitalized terms used and not
otherwise defined herein shall have the meaning assigned to such term in the
Indenture.

 

NOW, THEREFORE,
Assignor hereby absolutely and irrevocably grants, sells, assigns, transfers
and sets over to Trustee all of the right, title and interest of Assignor in
and to the Rents and Revenues as follows:

 

1.             Assignor
has granted, sold, assigned, transferred and set over, and by these presents
does hereby grant, sell, assign, transfer and set over unto Trustee, its
successors and assigns, all of Assignor’s right, title and interest in and to
the Rents and Revenues, together with all rights, interests and privileges
which Assignor has or may have to receive and collect the Rents and Revenues,
including, without limitation, the present and continuing right with full power
and authority in its own name and in the name of Assignor or otherwise to make,
claim for, enforce, collect, receive and receipt for any and all of such Rents and
Revenues and to do any and all things which Assignor is or may become entitled
for the collection of the Rents and Revenues.

 

2.             The
acceptance of this Assignment and the payment of any Rents and Revenues hereby
assigned shall not constitute a waiver of any rights of Trustee under the terms
of the Indenture or any other Collateral Documents for the benefit of Trustee
on behalf of the holders of the Notes (the “Noteholders”).

 

3.             It
is understood and agreed that Assignor reserves, for so long as there shall
exist no Event of Default under the Indenture, the Notes or the Collateral
Documents, a revocable license to collect the Rents and Revenues as they become
due, but not prior to accrual, and to remit the same in accordance with the
Indenture.  Upon the occurrence of an
Event of Default under the Indenture, the Notes or any other Collateral
Document, such license reserved to Assignor shall be immediately revoked
without further demand or notice and, subject to the terms of the Intercreditor
Agreement, Trustee thereafter will have the right, but not the obligation to:
(i) demand payment of the Rents and Revenues from the appropriate party,
(ii) give notice that further payment of Rents and Revenues are to be made
as directed by the Trustee, and (iii) settle, compromise, bring suit in
respect to Rents and Revenues or otherwise deal with the person owing such
Rents and Revenues, either in the name of Assignor or its own name.  If any Rents and Revenues are collected by Assignor
in violation of this Assignment, such Rents and Revenues shall be held in trust
for the benefit of Trustee on behalf of the Noteholders.  Any such Rents and Revenues which are
actually collected by Trustee and not held by a receiver or other third party
shall be applied to Assignor’s obligations under the Indenture and the
Notes.  Trustee hereby agrees that, upon
Assignor’s cure of any Event of Default not relating to the payment of money,
Trustee will reinstate Assignor’s license to collect the Rents and Revenues.

 

A-2

 

4.             Neither
Trustee nor any of the Noteholders shall be obligated to perform or discharge
any obligation or duty to be performed or discharged by Assignor relating to
the Rents and Revenues or the Real Property, and Assignor hereby agrees to
indemnify Trustee and each of the Noteholders for, and to save them harmless
from, any and all liability arising from the Rents and Revenues, from this
Assignment, or from the management, operation and repair of the Real Property,
and this Assignment shall not place responsibility for the control, care,
management, operation or repair of the Real Property upon Trustee or any
Noteholder or make Trustee or any Noteholder responsible or liable for any
negligence in the management, operation, upkeep, repair or control of the Real
Property resulting in loss or injury or death to any tenant, guest, licensee,
employee or stranger (provided that this Section 4 shall not act to relieve
Trustee from liability resulting from the gross negligence or willful
misconduct of Trustee).

 

5.             Assignor
agrees that this Assignment and the designation and directions herein set forth
are irrevocable and that Assignor will not, while this Assignment or such
designation and directions are in effect or thereafter so long as any
obligation of Assignor under the Indenture remains unsatisfied, make any other
assignment, designation or direction inconsistent herewith, and that any
assignment, designation or direction inconsistent herewith shall be void.  Assignor will from time to time, upon the
request of Trustee, execute all instruments of further assurance and all such
supplemental instruments as Trustee may specify.

 

6.             No
action or inaction on the part of Trustee or any of the Noteholders shall
constitute an assumption on the part of Trustee or any of the Noteholders of
any obligations or duties relating to the Rents and Revenues.  No action or inaction on the part of
Assignor shall adversely affect or limit in any way the rights of Trustee under
this Assignment or, through this Assignment, to the Rents and Revenues.

 

7.             Assignor
covenants and represents that, except for an assignment made by Assignor in
favor of Bank of America, N.A. pursuant to that certain Assignment of Rents and
Revenues dated as of even date herewith (which is subject to the terms of the
Intercreditor Agreement), no other assignments of its interests in the Rents
and Revenues have been made.

 

8.             The
full performance of the terms contained in the Indenture and the Notes and the
duly recorded reconveyance of the Deed of Trust shall render this Assignment
void.  Upon such reconveyance, the
Trustee, at the request and the expense of Assignor, will deliver either an
instrument canceling this Assignment or assigning the rights of the Trustee
hereunder, as Assignor shall direct.

 

9.             This Assignment
applies to and binds the parties hereto and their respective heirs,
administrators, executors, successors and assigns.  This Assignment may not be modified or terminated orally.

 

10.          Nothing contained in
this Assignment and no act done or omitted by Trustee or any of the Noteholders
pursuant to its terms shall be deemed a waiver by Trustee or any of the
Noteholders of any rights or remedies under the Collateral Documents, and this
Assignment is made and accepted without prejudice to any rights or remedies
possessed by

 

A-3

 

Trustee or any of the
Noteholders under the terms of the Collateral Documents.  The right of the Noteholders to collect the
Indebtedness, and to enforce any security for the Indebtedness, may be
exercised by Trustee or pursuant to the terms of the Indenture, the Noteholders
prior to, simultaneous with, or subsequent to any action taken under this
Assignment.

 

11.          Assignor
and Trustee intend that this Assignment shall be a present, absolute and
unconditional assignment from Assignor to Trustee and not merely the passing of
a security interest and, immediately upon execution, subject to the license
granted above, this Assignment gives Trustee the right (but not the obligation)
to collect the Rents and Revenues and to apply them in payment of the principal
and interest and all other sums payable under the Collateral Documents.  Assignor and Trustee further agree that,
during the term of this Assignment, the Rents and Revenues will not constitute
property of Assignor (or of any estate of Assignor) within the meaning of
11 U.S.C. §541, as amended from time to time.  Nothing contained herein, nor any collection of Rents and
Revenues by Trustee or by a receiver, shall be construed to make Trustee a
“mortgagee-in-possession” of the Real Property.

 

12.          The
parties hereto acknowledge that prior to Trustee or any of the Noteholders
obtaining gaming revenues as a part of Rents and Revenues, prior approval of
the Nevada Gaming Control Board may be required.

 

13.          THIS
ASSIGNMENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN
ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEVADA, WITHOUT REGARD TO
CONFLICTS OF LAWS PRINCIPLES.

 

14.          ALL
JUDICIAL PROCEEDINGS BROUGHT AGAINST ASSIGNOR ARISING OUT OF OR RELATING TO
THIS ASSIGNMENT MAY BE BROUGHT IN ANY STATE OR FEDERAL COURT OF COMPETENT
JURISDICTION IN THE STATE OF NEVADA, AND BY EXECUTION AND DELIVERY OF THIS
ASSIGNMENT ASSIGNOR ACCEPTS FOR ITSELF AND IN CONNECTION WITH ITS PROPERTIES,
GENERALLY AND UNCONDITIONALLY, THE EXCLUSIVE JURISDICTION OF THE AFORESAID
COURTS AND WAIVES ANY DEFENSE OF FORUM NON CONVENIENS AND IRREVOCABLY AGREES TO
BE BOUND BY ANY JUDGMENT RENDERED THEREBY IN CONNECTION WITH THIS ASSIGNMENT.  Assignor hereby agrees that service of all
process in any such proceeding in any such court may be made by registered or
certified mail, return receipt requested, to Assignor at its address provided
in subsection 14.02 of the Indenture, such service being hereby
acknowledged by Assignor to be sufficient for personal jurisdiction in any
action against Assignor in any such court and to be otherwise effective and
binding service in every respect. 
Nothing herein shall affect the right to serve process in any other
manner permitted by law.

 

15.          ASSIGNOR
AND TRUSTEE HEREBY AGREE TO WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF
ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS ASSIGNMENT.  The scope of this waiver is intended to be
all-encompassing of any and all disputes that may be filed in any court and
that relate to the subject matter of this Assignment, including without
limitation contract claims,

 

A-4

 

tort
claims, breach of duty claims and all other common law and statutory
claims.  Each party hereto acknowledges
that this waiver is a material inducement to enter into a business
relationship, that each has already relied on this waiver in entering into this
Assignment, and that each will continue to rely on this waiver in their related
future dealings.  Each party hereto
further warrants and represents that it has reviewed this waiver with its legal
counsel and that it knowingly and voluntarily waives its jury trial rights
following consultation with legal counsel. 
THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED EITHER
ORALLY OR IN WRITING, AND THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS,
RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS ASSIGNMENT.  In the event of litigation, this Assignment
may be filed as a written consent to a trial by the court.

 

16.          This
Assignment may be executed in any number of counterparts, each of which shall
be deemed an original and all of which shall constitute one and the same document
with the same effect as if all parties had signed the same signature page.  Any signature page and acknowledgment page
of this Assignment may be detached from any counterpart of this Assignment and
reattached to any other counterpart of this Assignment identical in form hereto
but having attached to it one or more additional signature and acknowledgment
pages.

 

A-5

 

IN WITNESS WHEREOF,
the parties have caused their duly authorized representatives to execute this
Assignment on the day and year first above written.

 

ASSIGNOR:

 

	
  CIRCUS
  AND ELDORADO JOINT VENTURE,

  
	
  a
  Nevada general partnership

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  Gary Carano

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:
  Chief Executive Officer

  

 

A-6

 

TRUSTEE:

 

THE BANK OF NEW YORK,

acting solely in its
capacity as Trustee

under the Indenture

 

	
  By:

  	
  /s/ John
  Guiliano

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:
  Authorized Signatory

  

 

A-7

 

ACKNOWLEDGMENT FOR CIRCUS AND
ELDORADO JOINT VENTURE

 

	
  STATE OF NEVADA

  	
   

  	
  )

  
	
   

  	
   

  	
  ) ss

  
	
  COUNTY OF WASHOE

  	
   

  	
  )

  

 

This instrument was
acknowledged before me on February 26, 2002, by Gary Carano as Chief Executive
Officer of CIRCUS AND ELDORADO JOINT VENTURE.

	
  Notary Public

  	
  /s/ Kerrie
  LaFerriere

  

 

 

A-8

 

ACKNOWLEDGMENT FOR THE BANK OF NEW
YORK, as Trustee

 

	
  STATE OF

  	
  New York

  	
   

  	
  )

  
	
   

  	
   

  	
   

  	
  ) ss

  
	
  COUNTY OF

  	
  Bronx

  	
   

  	
  )

  

 

 

This instrument was
acknowledged before me on Feb. 26, 2002, by John Guiliano, as Authorized
Signatory of THE BANK OF NEW YORK
                                                      

 

	
  Notary Public

  	
  /s/ Christine C.
  Collins

  

 

A-9

 

EXHIBIT A

 

Legal Description of Real Property

 

THE LAND REFERRED
TO HEREIN IS SITUATED IN THE COUNTY OF WASHOE, STATE OF NEVADA, AND IS
DESCRIBED AS FOLLOWS:

 

PARCEL 1:

 

Beginning at the
intersection of the Southern line of West Fifth Street with the Western line of
North Virginia Street; thence Southerly along said Western line of North
Virginia Street, 88.00 feet; thence Westerly parallel with the Northern line of
West Fourth Street 140.00 feet to the Eastern line of alley; thence Northerly
along the last mentioned line 88.00 feet to said Southern line of West Fifth
Street; thence Easterly along said Southern line of West Fifth Street, 140.00
feet to the point of beginning.

 

PARCEL 2:

 

Beginning at the
intersection of the West line of North Virginia Street with the North line of
Lot 10 in Block “B” of ORIGINAL TOWN, NOW CITY OF RENO, according to the map
thereof, filed in the office of the County Recorder of Washoe County, State of
Nevada, on June 27, 1871; thence Northerly along the Westerly line of North
Virginia Street, 12 feet, more or less, to the Southeast corner of the parcel of
land described in the deed to Ivanhoe Corporation of record in Book 453, File
No. 278019, Deed Records; thence Westerly along the Southern line of said
Ivanhoe Corporation parcel 140 feet to the Easterly line of an alley; thence
Southerly along the last mentioned line, 12 feet, more or less, to the
Northwest corner of said Lot 10; thence Easterly to the point of beginning.

 

PARCEL 3:

 

Lots 10, 11, 12 and the
North 13 feet of Lot 13 in Block ”B” of ORIGINAL TOWN, NOW CITY OF
RENO, according to the map thereof, filed in the office of the County Recorder
of Washoe County, State of Nevada, on June 27, 1871.

 

PARCEL 4:

 

The Northerly 9.25 feet
of Lot 3 and all of Lots 4, 5, 6, 7 and 8 in Block “B” of ORIGINAL TOWN, NOW
CITY OF RENO, according to the map thereof, filed in the office of the County
Recorder of Washoe County, State of Nevada, on June 27, 1871.

 

ALSO a parcel of land
bounded on the South by the Southern line of the 40 foot alley as laid out on
the map of the Town, now City of Reno, in said Block “B”, bounded on the West
by the Eastern line of North Sierra Street, bounded on the North by the
Southern line of West Fifth Street and bounded on the East by the Western line
of the 20 foot alley running Northerly and Southerly through said Block “B”.

 

A-10

 

PARCEL 5:

 

The
South 37 feet of Lot 13 in Block “B” of the “ORIGINAL TOWN, NOW CITY OF RENO”,
according to the official map thereof, filed in the office of the County
Recorder of Washoe County, State of Nevada, on June 27, 1871.

 

PARCEL 6:

 

Lot 14
in Block B of ORIGINAL TOWN, NOW CITY OF RENO, according to the map thereof,
filed in the office of the County Recorder of Washoe County, State of Nevada,
on June 27, 1871.

 

PARCEL 7:

 

The
West forty (40) feet of Lot Fifteen (15) in Block “B” fronting forty (40) feet
on the North line of Fourth Street, as designated on the official map of said
City of Reno, Nevada, on file and of record in the office of the County
Recorder in and for the said County of Washoe; the property hereby conveyed
being the same property described in a Deed from May J. A. Nadon and others to
Dale V. Clanton, dated November 18, 1920, and filed for record on the 29th day
of November, 1920, in the office of the County Recorder in and for the County
of Washoe, and therein recorded in Book 56 of Deeds, at Page 440.

 

PARCEL 8:

 

The
East 100 feet of Lot 15 in Block B of original town, now City of Reno,
according to the map thereof, filed in the office of the County Recorder of
Washoe County, State of Nevada, on June 27, 1871.

 

PARCEL 9:

 

All of
Lots 1 and 2, and the South 40.75 feet of Lot 3 in Block B of the ORIGINAL
TOWN, NOW CITY OF RENO, according to the map thereof, filed in the office of
the County Recorder of Washoe County, State of Nevada, on June 27, 1871.

 

PARCEL 10:

 

The
South 20 feet of Lot 10, and all of Lots 11, 12, 13, 14, 15 and 16, in Block A,
of ORIGINAL TOWN, NOW CITY OF RENO, according to the map thereof, filed in the
office of the County Recorder of Washoe County, State of Nevada, on June 27,
1871.

 

TOGETHER
WITH the East 1/2 of the North-South alley running through said Block A,
immediately adjoining Lots 11, 12, 13, 14, 15 and 16 on the West, and more
particularly described in those certain Orders of Abandonment recorded January
19, 1977 in Book 1044, Page 521 as Document No. 445058, and recorded November
14, 1985 in Book 2251, Page 933 as Document No. 1034253 of Official Records.

 

A-11

 

PARCEL 11:

 

The
East 78 feet of Lot 9 and the East 78 feet of the North 30 feet of Lot 10 in
Block A of the ORIGINAL TOWN, NOW CITY OF RENO, according to the Official Map
thereof, filed in the office of the County Recorder of Washoe County, State of
Nevada, on June 27, 1871.

 

Together
with that portion of the vacated alley lying Southerly of the Southerly line of
West Fifth Street and Westerly of the Westerly line of North Sierra Street
adjoining said Lot 9 at its most Northeasterly corner.

 

PARCEL 12:

 

A
portion of the Southwest 1/4 of the Northeast 1/4 of Section 11,
Township 19 North, Range 19 East, M.D.B&M., lying and being in the
City of Reno, County of Washoe, State of Nevada, and more particularly
described as follows:

 

The
Westerly 74 feet of Lot 9 and the Westerly 74 feet of the North 30 feet of Lot 10,
all in Block A of the ORIGINAL TOWN, NOW CITY OF RENO, according to the
official map thereof, filed in the office of the County Recorder of Washoe
County, State of Nevada, on June 27, 1871.

 

PARCEL 13:

 

BEGINNING
at the Northeast corner of Lot 8, Block A, as shown on the official plat of the
town, now City of Reno, Nevada, filed in the office of the County Recorder of
Washoe County, Nevada, on June 27, 1871; thence Southerly along the Easterly
lines of Lots 8 and 7 of said Block A to the Southeast corner of Lot 7; thence
Westerly along the Southerly line of Lot 7 and the Southerly line of Lot 7
projected to its intersection with the Easterly line of West Street; thence
Northerly along the Easterly line of West Street to the Southerly line of West
Fifth Street; thence Easterly along the Southerly line of West Fifth Street to
the point of beginning.

 

PARCEL 14:

 

Lots
1, 2, 3, 4, 5, 6, in Block A, of ORIGINAL TOWN, NOW CITY OF RENO, according to
the map thereof, filed in the office of the County Recorder of Washoe County,
State of Nevada, on June 27, 1871, together with that parcel immediately
adjoining Lots 5 and 6 on the West, that is more particularly described as
follows:

 

BEGINNING
at the Northeasterly corner of Lot 6, in Block A of ORIGINAL TOWN, NOW CITY OF
RENO, according to the map thereof, filed in the office of the County Recorder
of Washoe County, State of Nevada, on June 27, 1871; thence Southerly along the
Easterly line of said Lots 5 and 6, in Block A, 100 feet to the
Southeasterly corner thereof; thence Westerly along the Southerly line of said
Lot 5 and the Southerly line of Lot 5 extended Westerly to the Easterly line of
West Street, as now located in the City of Reno, a distance of 140 feet; thence
Northerly along the Easterly line of West Street 100 feet to a point which
would be intersected by a line extended Westerly from the

 

A-12

 

Northeasterly
corner of said Lot 6 and along the Northerly line of said Lot 6; thence
Easterly and along said line and the Northerly line of said Lot 6, a
distance of 140 feet to the Northeasterly corner of said Lot 6, the point of
beginning; said premises being Lots 5 and 6 in Block A of the TOWN OF RENO,
according to the map above mentioned, and that portion of the 40 foot alley
around the Town of Reno, according to the map above mentioned, lying Westerly
of Lots 5 and 6 and East of the East line of West Street, as now located and
between the Northerly and Southerly line of said Lots 5 and 6 if said lines were
extended Westerly to the Easterly line of West Street as now located.

 

TOGETHER
WITH the West one-half of the North-South alley running through said Block A,
immediately adjoining said LOTS 1, 2, 3, 4, 5 and 6 on the East, and more
particularly described in those certain Orders of Abandonment recorded
January 19, 1977 in Book 1044, Page 521 as Document No. 445058, and
recorded on November 14, 1985 in Book 2251, Page 533 as Document No.
1034253, Official Records, Washoe County, State of Nevada.

 

PARCEL 15:

 

All
that certain 20.0 ft. wide alley connecting West Fourth Street with West Fifth
Street, Reno, Nevada, lying within Block B of the original Town, now City of
Reno, according to the map thereof, filed in the Office of the Washoe County
Recorder on June 27, 1871, and within Block B of the Evans North Addition,
according to the map thereof, filed in the office of the Washoe County Recorder
on December 16, 1879.

 

PARCEL 16:

 

All
that certain 20.0 ft. wide alley lying between Lots 7, 8, 9 and 10 of Block A of the Original Town, now City
of Reno, according to the map thereof, filed in the office of the Washoe County
Recorder on June 27, 1871.

 

PARCEL 17: (Air Rights Only)

 

All
that certain piece or parcel of land located within a portion of the Northeast
1/4 of Section 11, Township 19 North, Range 19 East, M.D.B.&M. more
particularly described as follows:

 

That
certain air space located above Sierra Street commencing at an elevation of
4,521 and extending vertically 32 feet to an elevation of 4,553 feet, which height
is measured from the finished floor elevation of the Silver Legacy Casino at
4,503 feet, and located directly over that certain parcel of real property
described as follows:

 

Commencing
at the Southwest corner of Block B Reno Townsite as shown on Record-of-Survey
2665, recorded January 27, 1994,

 

thence
North 13°48’48” West 97.13 feet to the True Point of Beginning

 

thence
North 13°48’48” West 223.17 feet

 

A-13

 

thence
South 76°11’12” West 80.00 feet

 

thence
South 13°48’48” East 223.17 feet

 

thence
North 76°11’12” East 80.00 feet to the True Point of Beginning

 

PARCEL 18: (Subterranean Rights
Only)

 

All
that certain piece or parcel of land located within a portion of the Northeast
1/4 of Section 11, Township 19 North, Range 19 East, M.D.B.&M. more
particularly described as follows:

 

That
certain subterranean space located beneath Sierra Street commencing at an
elevation of 4,480 and extending vertically 20 feet to an elevation of 4,500
feet, which height is measured from the finished floor elevation of the Silver
Legacy Casino at 4,503 feet, and located directly below that certain parcel of
real property described as follows:

 

Commencing
at the Southwest corner of Block B Reno Townsite as shown on Record-of -Survey
2665, recorded January 27, 1994,

 

thence
North 13°48’48” West 181.05 feet to the True Point of Beginning

 

thence
North 13°48’48” West 24.33 feet

 

thence
South 76°11’12” West 80.00 feet

 

thence
South 13°48’48” East 24.33 feet

 

thence
North 76°11’12” East 80.00 feet to the True Point of Beginning

 

EXCEPTING
THEREFROM the above Parcels 1 through 18, all those certain parcels as conveyed
to THE CITY OF RENO, a Nevada municipal corporation, by Deed of Dedication
recorded March 9, 1995 in Book 4259, Page 956 as Document No. 1876631 of
Official Records, and as amended by Deed of Dedication recorded May 5, 1995 in
Book 4297, Page 667 as Document No. 1891266 of Official Records.

 

PARCEL 19:

 

Together
with the reciprocal easement rights, as contained in those certain Bridge
Easements dated May 25, 1995 by and between CIRCUS AND ELDORADO JOINT VENTURE,
a Nevada general partnership and CIRCUS CIRCUS CASINO, INC., a Nevada
corporation and ELDORADO HOTEL ASSOCIATES LIMITED PARTNERSHIP, a Nevada limited
partnership, recorded May 31 1995 as Document Numbers 1897109 and 1897108
Official Records, Washoe County, Nevada.

 

A-14EXHIBIT 10.10.5

 

“THE LIENS GRANTED PURSUANT
TO THIS INSTRUMENT ARE SUBJECT AND SUBORDINATE TO THE LIENS GRANTED TO BANK OF
AMERICA, N.A., AS ADMINISTRATIVE AGENT, PURSUANT TO AN INTERCREDITOR AGREEMENT
DATED AS OF MARCH 5, 2002 WITH BANK OF AMERICA, N.A., AS ADMINISTRATIVE AGENT
(THE “INTERCREDITOR
AGREEMENT”).”

 

COLLATERAL
ACCOUNT AGREEMENT

 

This COLLATERAL ACCOUNT
AGREEMENT (this “Agreement”) is
dated as of March 5, 2002 and entered into by and between CIRCUS AND ELDORADO
JOINT VENTURE, a Nevada general partnership (the “Partnership”), SILVER LEGACY CAPITAL CORP., a Nevada
Corporation (“Capital” and
together with the Partnership, the “Pledgors”),
and THE BANK OF NEW YORK, as trustee (in such capacity herein called “Secured Party”) under that certain Indenture
dated as of March 5, 2002 (the “Indenture”)
with respect to the 10 1/8% Mortgage Notes due 2012 (the “Notes”) issued and to be issued by
Pledgors.

 

PRELIMINARY
STATEMENTS

 

1.             Pledgors and Secured Party have
entered into the Indenture.

 

2.             It is a condition under to the issuance and sale of the
Notes pursuant to the Purchase Agreement dated as of February 22, 2002 by and
among the Pledgors and the Initial Purchasers named therein that the Pledgors
shall have executed this Agreement, and that Pledgors shall have granted the
security interests and undertaken the obligations contemplated by this
Agreement.

 

NOW, THEREFORE, in
consideration of the premises and for other good and valuable consideration,
the receipt and adequacy of which are hereby acknowledged, the Pledgors hereby
agree with Secured Party as follows:

 

SECTION 1.           Certain Definitions.  Terms defined in the Indenture and not
otherwise defined in this Agreement shall have the meanings given those terms
in the Indenture when used herein and such definitions are incorporated herein
as though set forth herein in full.  In
addition, the following terms used in this Agreement shall have the following
meanings:

 

“Collateral” means (i) the Collateral Account, (ii) all amounts
on deposit from time to time in the Collateral Account, (iii) all interest,
cash, instruments, securities and other property from time to time received,
receivable or otherwise distributed in respect of or in exchange for any or all
of the Collateral, and (iv) to the extent not covered by clauses (i) through
(iii) above, all proceeds of any or all of the foregoing, Collateral.

 

 

“Collateral Account” means the restricted deposit account
established and maintained by the Pledgors with Bank of America, N.A. (the
“Administrative Agent”) pursuant to Section 2(a).

 

“Secured Obligations” means all obligations and liabilities of
every nature of the Pledgors now or hereafter existing under or arising out of
or in connection with the Indenture, the Notes and the other Collateral
Documents and all extensions or renewals thereof, whether for principal,
interest (including without limitation interest that, but for the filing of a
petition in bankruptcy with respect to either Pledgor, would accrue on such
obligations), fees, expenses, indemnities or otherwise, whether voluntary or
involuntary, direct or indirect, absolute or contingent, liquidated or
unliquidated, whether or not jointly owed with others, and whether or not from
time to time decreased or extinguished and later increased, created or incurred,
and all or any portion of such obligations or liabilities that are paid, to the
extent all or any part of such payment is avoided or recovered directly or
indirectly from Secured Party as a preference, fraudulent transfer or
otherwise, and all obligations of every nature of the Pledgors now or hereafter
existing under this Agreement.

 

SECTION
2.           Establishment and
Operation of Collateral Account.

 

(a)           The Pledgors hereby authorize and
direct [Bank of America, N.A.] to establish and maintain at its Funding and
Payment Office, as a blocked account in the name of the Pledgors but under the
sole dominion and control of [the Administrative Agent], a restricted deposit
account designated as the “Circus and Eldorado Joint Venture.”

 

(b)           The Collateral Account shall be operated in accordance
with the terms of this Agreement.

 

(c)           Anything contained herein to the contrary notwithstanding,
the Collateral Account shall be subject to such applicable laws, and such
applicable regulations of the Board of Governors of the Federal Reserve System
and of any other appropriate banking or governmental authority, as may now or
hereafter be in effect.

 

SECTION 3.           Deposits of Cash Collateral.  All deposits of funds in the Collateral
Account shall be made by wire transfer (or, if applicable, by intra-bank
transfer from another account of the Pledgors) of immediately available funds,
in each case addressed as follows:

 

Account No.:

ABA No.:

Reference:

Attention:

 

The Pledgors shall, promptly
after initiating a transfer of funds to the Collateral Account, give notice to
Secured Party by telefacsimile of the date, amount and method of delivery of
such deposit.

 

SECTION 4.           Pledge of Security for Secured
Obligations.  Each Pledgor hereby
pledges and assigns to Secured Party, and hereby grants to Secured Party a
security interest in, all

 

2

 

of such Pledgor’s right, title and interest
in and to the Collateral as collateral security for the prompt payment or
performance in full when due, whether at stated maturity, by required
prepayment, declaration, acceleration, demand or otherwise (including the
payment of amounts that would become due but for the operation of the automatic
stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. §362(a)), of all
Secured Obligations.

 

SECTION 5.           No Investment of Amounts in the
Collateral Account:  Interest on Amounts
in the Collateral Account

 

(a)           Cash on deposit in the Collateral Account shall not be
invested but instead shall be maintained as a cash deposit in the Collateral
Account pending application thereof as elsewhere provided in this Agreement.

 

(b)           To the extent permitted under Regulation Q of the Board of
Governors of the Federal Reserve System, any cash held in the Collateral
Account shall bear interest at the standard rate paid by Bank of America, N.A.
to its customers for deposits of like amounts and terms.

 

(c)           Subject to Secured Party’s rights under Section 12, any
interest earned on deposits of cash in the Collateral Account in accordance
with Section 5(b) shall be deposited directly in, and held in the Collateral
Account.

 

SECTION 6.           Representations and Warranties.  The Pledgors represent and warrant as
follows:

 

(a)           Ownership of Collateral.  The Pledgors are (or at the time of transfer thereof to Secured
Party will be) the legal and beneficial owner of the Collateral from time to
time transferred by the Pledgors to Secured Party, free and clear of any Lien
except for the security interest created by this Agreement and, to the extent
set forth in the Intercreditor Agreement, any Liens made in favor of the
Administrative Agent to secure the obligations of the Pledgors pursuant to that
certain Second Amended and Restated Credit Agreement by and among the
Partnership, the lenders described therein and the Administrative Agent.

 

(b)           Governmental Authorizations.  No authorization, approval or other action
by, and no notice to or filing with, any governmental authority or regulatory
body is required for either (i) the grant by the Pledgors of the security
interest granted hereby, (ii) the execution, delivery or performance of this
Agreement by the Pledgors, or (iii) the perfection of or the exercise by
Secured Party of its rights and remedies hereunder (except as may have been
taken by or at the direction of the Pledgors).

 

(c)           Perfection. The pledge and assignment of the
Collateral pursuant to this Agreement creates, to the extent permitted by
applicable law, a valid and [perfected] security interest in the Collateral,
securing the payment of the Secured Obligations.

 

(d)           Other Information. 
All information heretofore, herein or hereafter supplied to Secured
Party by or on behalf of the Pledgors with respect to the Collateral is
accurate and complete in all material respects.

 

3

 

SECTION 7.           Further Assurances.  The Pledgors agree that from time to time,
at the joint and several expense of the Pledgors, the Pledgors will promptly
execute and deliver all further instruments and documents, and take all further
action, that may be necessary or desirable, or that Secured Party may request,
in order to perfect and protect any security interest granted or purported to
be granted hereby or to enable Secured Party to exercise and enforce its rights
and remedies hereunder with respect to any Collateral.  Without limiting the generality of the
foregoing, the Pledgors will: (a) execute and file such financing or
continuation statements, or amendments thereto, and such other instruments or
notices, as may be necessary or desirable, or as Secured Party may request, in
order to perfect and preserve the security interests granted or purported to be
granted hereby and (b) at Secured Party’s request, appear in and defend any
action or proceeding that may affect the Pledgors’ title to or Secured Party’s
security interest in all or any part of the Collateral.

 

SECTION 8.           Transfers and other Liens.  Each Pledgor agrees that it will not (a)
sell, assign (by operation of law or otherwise) or otherwise dispose of any of
the Collateral or (b) create or suffer to exist any Lien upon or with respect
to any of the Collateral, except for Permitted Liens.

 

SECTION 9.           Secured Party Appointed Attorney
In-Fact.  Each Pledgor hereby
irrevocably appoints Secured Party as such Pledgor’s attorney-in-fact, with
full authority in the place and stead of such Pledgor and in the name of such
Pledgor, Secured Party or otherwise, from time to time in Secured Party’s
discretion to take any action and to execute any instrument that Secured Party may
deem necessary or advisable to accomplish the purposes of this Agreement,
including without limitation to file one or more financing or continuation
statements, or amendments thereto, relative to all or any part of the
Collateral without the signature of such Pledgor.

 

SECTION 10.         Secured Party May Perform.  If either Pledgor fails to perform any
agreement contained herein, Secured Party may itself perform, or cause
performance of, such agreement, and the expenses of Secured Party incurred in
connection therewith shall be payable by the Pledgors under Section 13.

 

SECTION 11.         Standard of Care.  The powers conferred on Secured Party
hereunder are solely to protect its interest in the Collateral and shall not
impose any duty upon it to exercise any such powers.  Except for the exercise of reasonable care in the custody of any
Collateral in its possession and the accounting for moneys actually received by
it hereunder, Secured Party shall have no duty as to any Collateral, it being
understood that Secured Party shall have no responsibility for (a) taking any
necessary steps (other than steps taken in accordance with the standard of care
set forth above to maintain possession of the Collateral) to preserve rights
against any parties with respect to any Collateral or (b) taking any necessary
steps to collect or realize upon the Secured Obligations or any guarantee
therefor, or any part thereof, or any of the Collateral.  Secured Party shall be deemed to have
exercised reasonable care in the custody and preservation of Collateral in its
possession if such Collateral is accorded treatment substantially equal to that
which Secured Party accords its own property of like kind.

 

4

 

SECTION 12.         Remedies.

 

(a)           Subject to the terms of the Intercreditor Agreement, if
any Event of Default or Default shall have occurred and be continuing, Secured
Party may (i) transfer any or all of the Collateral to an account established
in Secured Party’s name or (ii) otherwise register title to any Collateral in
the name of Secured Party or one of its nominees or agents, without reference
to any interest of the Pedgors.

 

(b)           Subject to the terms of the Intercreditor Agreement, if
any Event of Default shall have occurred and be continuing, Secured Party may
exercise in respect of the Collateral, in addition to all other rights and
remedies provided for herein or otherwise available to it, all the rights and
remedies of a secured party on default under the Uniform Commercial Code as in
effect in any relevant jurisdiction (the “Code”)
(whether or not the Code applies to the affected Collateral).

 

(c)           If the proceeds of any disposition of the Collateral are
insufficient to pay all the Secured Obligations, the Pledgors shall be liable
for the deficiency and the fees of any attorneys employed by Secured Party to
collect, such deficiency.

 

SECTION 13.         Indemnity and Expenses.

 

(a)           The Pledgors agree, jointly and severally, to indemnify
Secured Party from and against any and all claims, losses and liabilities in
any way relating to, growing out of or resulting from this Agreement and the
transactions contemplated hereby (including, without limitation, enforcement of
this Agreement), except to the extent such claims, losses or liabilities result
solely from Secured Party’s gross negligence or willful misconduct as finally
determined by a court of competent jurisdiction.

 

(b)           The Pledgors shall, jointly and severally, pay to Secured
Party upon demand the amount of any and all costs and expenses, including the
reasonable fees and expenses of its counsel and of any experts and agents, that
Secured Party may incur in connection with (i) the administration of this
Agreement, (ii) the custody, preservation, use or operation of, or the sale of,
collection from, or other realization upon, any of the Collateral, (iii) the
exercise or enforcement of any of the rights of Secured Party hereunder, or
(iv) the failure by the Pledgors to perform or observe any of the provisions
hereof.

 

SECTION 14.         Continuing Security Interest:
Transfer of Loans.  This Agreement
shall create a continuing security interest in the Collateral and shall (a)
remain in full force and effect until the indefeasible payment in full of the
Secured Obligations, (b) be binding upon the Pledgors, and their respective
successors and assigns, and (c) inure, together with the rights and remedies of
Secured Party hereunder, to the benefit of Secured Party and its successors,
transferees and assigns.  Upon the
indefeasible payment in full of all Secured Obligations, the security interest
granted hereby shall terminate and all rights to the Collateral shall revert to
the Pledgors.  Upon any such termination
Secured Party shall, at the Pledgors’ expense, execute and deliver to the
Pledgors such documents as the Pledgors shall reasonably request to evidence
such termination and the Pledgors shall be entitled to the return, upon the
request and at the expense of the Pledgors, against receipt and without
recourse to Secured Party, of such of the Collateral as shall not have been
otherwise applied pursuant to the terms hereof.

 

5

 

SECTION 15.         Secured Party as Agent.

 

(a)           Secured Party shall be obligated, and shall have the right
hereunder, to make demands, to give notices, to exercise or refrain from
exercising any rights, and to take or refrain from taking any action
(including, without limitation, the release or substitution of Collateral),
solely in accordance with this Agreement, the Indenture and the Intercreditor Agreement.

 

(b)           Secured Party shall at all times be the same Person that
is Trustee under the Indenture.  Written
notice of resignation by Trustee pursuant to subsection 7.08 of the Indenture
shall also constitute notice of resignation as Secured Party under this
Agreement; removal of Trustee pursuant to subsection 7.08 of the Indenture
shall also constitute removal as Secured Party under this Agreement; and
appointment of a successor Trustee pursuant to subsection 7.08 of the Indenture
shall also constitute appointment of a successor Secured Party under this
Agreement.  Upon the acceptance of any
appointment as Trustee under subsection 7.08 of the Indenture by a successor
Trustee, that successor Trustee shall thereupon succeed to and become vested
with all the rights, powers, privileges and duties of the retiring or removed
Secured Party under this Agreement, and the retiring or removed Secured Party
under this Agreement shall promptly execute and deliver to such successor
Secured Party such amendments to financing statements, and take such other
actions, as may be necessary or appropriate in connection with the assignment
to such successor Secured Party of the security interests created hereunder,
whereupon such retiring or removed Secured Party shall be discharged from its
duties and obligations under this Agreement. 
After any retiring or removed Trustee’s resignation or removal hereunder
as Secured Party, the provisions of this Agreement shall inure to its benefit
as to any actions taken or omitted to be taken by it under this Agreement while
it was Secured Party hereunder.

 

SECTION 16.         Amendments: Etc.  No amendment or waiver of any provision of
this Agreement, or consent to any departure by the Pledgors herefrom, shall in
any event be effective unless the same shall be in writing and signed by
Secured Party, and then such waiver or consent shall be effective only in the
specific instance and for the specific purpose for which it was given.

 

SECTION 17.         Notices.  Unless otherwise specifically provided
herein, any notice or other communication herein required or permitted to be
given shall be in writing and may be personally served, telexed or sent by
telefacsimile or United States mail or courier service and shall be deemed to
have been given when delivered in person or by courier service, upon receipt of
telefacsimile or telex by 5:00 P.M (Pacific Time) on a Business Day, or three
Business Days after depositing it in the United States mail with postage
prepaid and properly addressed; provided that notices to Secured Party shall
not be effective until received.  For
the purposes hereof, the address of each party hereto shall be as set forth
under such party’s name on the signature pages hereof or, as to either party,
such other address as shall be designated by such party in a written notice
delivered to the other party hereto.

 

SECTION 18.         Failure or Indulgence Not Waiver;
Remedies Cumulative.  No failure or
delay on the part of Secured Party in the exercise of any power, right or
privilege

 

6

 

hereunder shall impair such power, right or
privilege or be construed to be a waiver of any default or acquiescence
therein, nor shall any single or partial exercise of any such power, right or
privilege preclude any other or further exercise thereof or of any other power,
right or privilege.  All rights and
remedies existing under this Agreement are cumulative to, and not exclusive of,
any rights or remedies otherwise available.

 

SECTION 19.         Severability.  In case any provision in or obligation under
this Agreement shall be invalid, illegal or unenforceable in any jurisdiction,
the validity, legality and enforceability of the remaining provisions or
obligations, or of such provision or obligation in any other jurisdiction, shall
not in any way be affected or impaired thereby.

 

SECTION 20.         Headings.  Section and subsection headings in this
Agreement are included herein for convenience of reference only and shall not
constitute a part of this Agreement for any other purpose or be given any
substantive effect.

 

SECTION 21.         Governing Law: Terms.  THIS AGREEMENT SHALL BE GOVERNED BY, AND
SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE
STATE OF NEVADA, WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES, EXCEPT TO THE
EXTENT THAT THE CODE PROVIDES THE SECURITY INTEREST HEREUNDER, OR REMEDIES
HEREUNDER, IN RESPECT OF ANY PARTICULAR COLLATERAL ARE GOVERNED BY THE LAWS OF
A JURISDICTION OTHER THAN THE STATE OF NEVADA. 
Capitalized terms defined in Articles 8 and 9 of the Uniform Commercial
Code as enacted in the State of Nevada but not otherwise defined herein or in
the Indenture shall have the meanings set forth in Articles 8 and 9 of the
Uniform Commercial Code as enacted in the State of Nevada .

 

SECTION 22.         Consent to Jurisdiction and Service
of Process.  ALL JUDICIAL
PROCEEDINGS BROUGHT AGAINST THE PLEDGORS ARISING OUT OF OR RELATING TO THIS
AGREEMENT MAY BE BROUGHT IN ANY STATE OR FEDERAL COURT OF COMPETENT
JURISDICTION IN THE STATE OF NEVADA, AND BY EXECUTION AND DELIVERY OF THIS
AGREEMENT EACH PLEDGOR ACCEPTS FOR ITSELF AND IN CONNECTION WITH ITS
PROPERTIES, GENERALLY AND UNCONDITIONALLY, THE EXCLUSIVE JURISDICTION OF THE
AFORESAID COURTS AND WAIVES ANY DEFENSE OF FORUM NON CONVENIENS AND IRREVOCABLY
AGREES TO BE BOUND BY ANY JUDGMENT RENDERED THEREBY IN CONNECTION WITH THIS
AGREEMENT.  Each Pledgor hereby agrees
that service of all process in any such proceeding in any such court may be
made by registered or certified mail, return receipt requested, to such Pledgor
at its address provided in Section 17, such service being hereby acknowledged
by such Pledgor to be sufficient for personal jurisdiction in any action
against such Pledgor in any such court and to be otherwise effective and
binding service in every respect. 
Nothing herein shall affect the right to serve process in any other
manner permitted by law.

 

SECTION 23.         Waiver of Jury Trial. THE
PLEDGORS AND SECURED PARTY HEREBY AGREE TO WAIVE THEIR RESPECTIVE RIGHTS TO A
JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS
AGREEMENT.  The scope of this waiver is
intended to be all-encompassing of any and all

 

7

 

 disputes that may be filed in any court and that relate to the
subject matter of this transaction, including without limitation contract
claims, tort claims, breach of duty claims, and all other common law and
statutory claims.  Each of the Pledgors
and Secured Party each acknowledge that this waiver is a material inducement for
the Pledgors and Secured Party to enter into a business relationship, that the
Pledgors and Secured Party have already relied on this waiver in entering into
this Agreement and that each will continue to rely on this waiver in their
related future dealings.  The Pledgors
and Secured Party further warrant and represent that each has reviewed this
waiver with its legal counsel, and that each knowingly and voluntarily waives
its jury trial rights following consultation with legal counsel.  THIS WAIVER IS IRREVOCABLE, MEANING THAT IT
MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING, AND THIS WAIVER SHALL APPLY TO
ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS
AGREEMENT.  In the event of litigation,
this Agreement may be filed as a written consent to a trial by the court.

 

SECTION 24.         Intercreditor Agreement.  In the event of any conflict or
inconsistency between this Agreement and the Intercreditor Agreement the
provisions of the Intercreditor Agreement shall control.

 

SECTION 25.         Counterparts.  This Agreement may be executed in one or
more counterparts and by different parties hereto in separate counterparts,
each of which when so executed and delivered shall be deemed an original, but
all such counterparts together shall constitute but one and the same
instrument, signature pages may be detached from multiple separate counterparts
and attached to a single counterpart so that all signature pages are physically
attached to the same document.

 

8

 

IN WITNESS WHEREOF, Pledgors
and Secured Party have caused this Agreement to be duty executed and delivered
by their respective officers thereunto duly authorized as of the date first
written above.

 

	
  PLEDGORS:

  	
  CIRCUS AND ELDORADO JOINT
  VENTURE

  
	
   

  	
  a Nevada general
  partnership

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Gary Carano

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title: Chief Executive
  Officer

  
	
   

  	
   

  
	
   

  	
  Notice Address:

  	
  c/o Circus and Eldorado
  Joint Venture

  
	
   

  	
   

  	
  407 North Virginia Street

  
	
   

  	
   

  	
  Reno, Nevada 89501

  
	
   

  	
   

  	
  Attention:

  	
  Bruce Sexton

  
	
   

  	
   

  	
   

  
	
   

  	
  SILVER LEGACY CAPITAL
  CORP.,

  	
   

  
	
   

  	
  a Nevada corporation, as
  Pledgor

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Gary Carano

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title: President and CEO

  
	
   

  	
   

  
	
   

  	
  Notice Address:

  	
  c/o Circus and Eldorado
  Joint Venture

  
	
   

  	
   

  	
  407 North Virginia Street

  
	
   

  	
   

  	
  Reno, Nevada 89501

  
	
   

  	
   

  	
  Attention:

  	
  Bruce Sexton

  
							

 

9

 

	
  SECURED
  PARTY:

  	
  THE BANK OF NEW YORK

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  John Guiliano

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title: Authorized
  Signatory

  
	
   

  	
   

  	
   

  
	
   

  	
  Notice Address:

  	
  c/o United States Trust
  Company of New York

  
	
   

  	
   

  	
  114 West 47th
  Street, 25th Floor

  
	
   

  	
   

  	
  New York, New York 10036

  
	
   

  	
   

  	
  Attention:  Corporate Trust Agency

  
						

 

10

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