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Converted by EDGARwiz

ADDENDUM TO MULT-TENANT LEASE

This Addendum is made as of the 17th day of July, 2003 by and between 157 Lane, LLC, Jigsaw Puzzle, LLC (collectively, “Landlord”) and Doc Holliday, LLC (“Tenant”).

RECITALS

WHEREAS, Landlord and Tenant entered into a certain Lease Agreement dated as of July 15, 2003 for premises located at 129-131 Main Street, Gilpin County, Central City, Colorado (“Lease”); and

WHEREAS, Landlord and Tenant desire to make certain modifications to the Lease;

NOW, THEREFORE, for good and valuable consideration, the receipt of which is hereby acknowledged, the parties hereto agree as follows:

1.

Section 1(a) of the Lease is modified to add as part of the leased premises the security room on the top floor of the building.

2.

Section 2(a) of the Lease is modified so that the Commencement Date is August 15, 2003, and the expiration date for the initial term shall be five (5) years and six (6) months following the date that the new road from Interest 70 to Central City is opened to the public.

3.

Section 3 of the Lease is modified so that Tenant’s payment of rent shall be paid yearly, in advance, with the first annual installment due on the execution of this Lease and each annual installment thereafter due on August 15 of each year commencing in 2004.

4.

Section 6 of the Lease is modified to add a paragraph as follows:

Notwithstanding anything contained in this Lease to the contrary, (a) Tenant’s operating expenses shall not increase by more than three percent (3%) per year and (b) Landlord shall be responsible for the payment of all Central City – Blackhawk sewer taxes with respect to the building containing premises.

5.

Section 40(d) of the Lease is deleted in its entirety and in its place shall be inserted the following:

Tenant shall have a right to terminate this Lease upon thirty (30) days written notice to Landlord with such right commencing February 15, 2004 and terminating on the date six (6) months after the new road from Interstate 70 to Central City is opened to the public.  Tenant shall forfeit the balance of the annual rent that Tenant has paid in advance as its termination fee.  Thereafter, neither party shall have any liability for events occurring after the termination date.  If Tenant fails to deliver said written notice of termination of the Lease by the date set forth above, then the Lease shall remain in full force and effect and Tenant shall have no further right to the termination of Lease as set forth in this subsection.

6.

Except as modified herein, the Lease shall remain in full force and effect.

IN WITNESS WHEREOF, the parties hereto have executed this Addendum as of the date first set forth above.

157 LANE, LLC

By:    /s/ Andrew Renard Goltra

JIGSAW PUZZLE, LLC

By:    /s/ Carolyn S. Goltra

DOC HOLLIDAY, LLC

By:   /s/ Fedele V. Scutti

7.

Section 40(a) shall be amended as follows:  Option to Renew.  Provided the Tenant is not in default under the terms and conditions of the Lease, Tenant shall have the right to renew this Lease for one additional period of seven (7) years under the same terms and conditions (excepting the provisions of this paragraph) as stated herein, except that the rent shall be increased from $200,000 annually to $300,000 annually.  Said rent shall be payable in monthly installments of $25,000.00.  Tenant shall give Landlord notice in writing of Tenant’s intention to exercise this option at least 180 calendar days prior to the expiration of this Lease.Converted by EDGARwiz

SECOND ADDENDUM

This addendum is attached to and hereby made a part of that certain Lease dated July 15, 2003 and previously amended, July 17, 2003, relating to a portion of 129-131 Main Street, Central City,  Colorado, by and between 157 Lane, LLC and Jigsaw Puzzle, LLC (“Landlord”) and Doc Holliday LLC (“Tenant”).

WHEREAS, the Colorado Gaming Commission is requiring the Tenant to reapply for its gaming license resulting in a delay of opening the Premises for operation, Landlord and Tenant hereby agree to the following modifications and corrections to the Lease:

1)

The Tenant shall be given a credit toward its annual prepaid rent in an amount equal to $8,333.33 commencing on August 15, 2004 and on each August 15th through and including 2006.  Thereafter, the full annual prepaid rent shall be due and payable under the Lease terms without further rent abatement.

2)

The name of the Tenant shall be corrected to read Doc Holliday Casino, LLC, a Colorado limited liability company.

READ AND ACKNOWLEDGED THIS ___ DAY OF JULY, 2003.

TENANT:

LANDLORD:

Doc Holliday Casino, LLC

157 Lane, LLC

By:    /s/ Fedele V. Scutti

By:   /s/ Andrew Renard Goltra

JIGSAW PUZZLE, LLC

By:   /s/ Carolyn Seipp GoltraConverted by EDGARwiz

AGREEMENT

This Agreement is made effective this 18th day of March, 2008 (the “Effective Date”) between and among GLOBAL CASINOS, INC., a Utah corporation (“Global”), CASINOS U.S.A., INC., a Colorado corporation (“Casinos”) and ASTRAEA INVESTMENT MANAGEMENT, L.P., as Trustee (“Astraea”).  Each of Global, Casinos and Astraea is sometimes referred to as a “Party” and may be collectively referred to as the “Parties”.

RECITALS

A.

Casinos executed a Promissory Note dated January 17, 1997 originally payable to Global Casinos, Inc., in the principal amount of $249,418.48, plus interest (the “Global Secured Note”).

B.

The Global Secured Note and Deed of Trust securing same were assigned to Astraea by an “Assignment of Promissory Note and Deed of Trust” made July 28, 1997.

C.

Casinos executed a Promissory Note dated January 17, 1997 payable to Astraea in the original principal amount of $783,103.56, plus interest (the “Astraea Secured Note”).

D.

The Global Secured Note and Astraea Secured Note were each amended pursuant to an Agreement and Amendment to Promissory Note each dated, respectively, September 17, 2002 (each respectively the “Amendment”).

E.

The Global Secured Note and Astraea Secured Note are each secured by a Deed of Trust dated January 17, 1997 and recorded April 1, 1997 in Book 617 at Page 464 in the real property records of Gilpin County, Colorado (the “Deed of Trust”), as well as a security agreement covering the tangible and intangible assets of Casinos (the “Security Agreement”).

F.

The parties desire to provide for a loan to be made by Casinos to Global, the prepayment and retirement of the Global Secured Note and for the other matters hereinbelow set forth.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency whereof are hereby acknowledged, the parties agree as follows:

1.

Casinos’ Loan to Global.

a.

Concurrently with the execution of this Agreement, Casinos will extend a loan to Global in the principal amount of $550,000 (the “Casinos Loan”).  The Casinos Loan shall be evidenced by a Promissory Note and shall be repayable, principal and interest, at the rate of 6% per annum, on or before June 30, 2009.

b.

In consideration of the Casinos Loan, Global shall pay to Casinos a loan fee in the amount of $5,500 concurrently with the execution hereof.

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c.

Astraea herewith consents to the Casinos Loan and agrees that the making of the Casinos Loan shall not constitute an Event of Default under the Global Secured Note, the Astraea Secured Note, the Deed of Trust or Security Agreement.

d.

Concurrently herewith, Global shall pay to Astraea a Consent Fee in the amount of $5,500.

2.

Global Secured Note.

a.

The Parties stipulate and agree that the outstanding balance of principal and interest due and owing under the Global Secured Note as of March 17, 2008 is $236,685.06 (the “Global Secured Note Payoff”).  

b.

Concurrently with the extension of the Casinos Loan, Casinos shall declare and pay a dividend to Global in the amount of $236,685.06.  

c.

Upon receipt of the foregoing dividend, Global shall pay to Astraea the Global Secured Note Payoff, and against delivery of such payment, Astraea shall execute and deliver an Assignment of the Global Secured Note in favor of Global.  As part of the assignment, Global will subordinate any rights under the Deed of Trust or the Security Agreement to Astraea’s rights.

3.

Astraea Secured Note.

a.

The Parties stipulate and agree that as of March 17, 2008, the outstanding balance due and owing under the Astraea Secured Note is $729,040.23. 

b.

Commencing March 17, 2008, the outstanding principal balance of the Astraea Secured Note shall accrue interest at the rate of 12% per annum until paid in full.  Based upon the revised rate of interest payable under the Astraea Secured Note, the monthly installment payments of principal and interest shall be revised to $7,645.82 commencing with the first payment due and payable after March 17, 2008.

c.

The Parties stipulate and agree that the outstanding principal balance and all accrued and unpaid interest due and owing under the Astraea Secured Note shall be due and payable on or before September 17, 2009 (the “Maturity Date”).

d.

The Astraea Secured Note is hereby amended to provide that in the event Astraea Secured Note is not paid in full on or before the Maturity Date, thereafter the principal amount thereof and all accrued and unpaid interest shall accrue interest at the default interest rate of 24% per annum.

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4.

Assignment of Casinos’ Loan.

a.

Concurrently with the execution hereof, Casinos will execute and deliver an Assignment (with rights of reversion) in favor of Astraea, thereby assigning its interest in the Promissory Note referenced in paragraph 1 above to Astraea, with such Assignment to automatically terminate upon the payment of the Astraea Secured  Note.

5.

Astraea Reimbursement.

a.

Global will reimburse Astraea for its costs incurred in connection with the execution and delivery of this Agreement, in reasonable attorneys’ fees, up to a maximum of $2,500.

6.

Voting Agreement.

a.

The Voting Agreement shall be extended in duration until all indebtedness owed by Global or Casinos is paid in full to Astraea.

7.

Inconsistencies.

a.

In the event of any conflict or inconsistency between the provisions of this Agreement and the provisions of any other agreement between the Parties, the provisions hereof shall control.

IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the 18th day of March, 2008.

GLOBAL CASINOS, INC.

By: /s/ Clifford L. Neuman

Clifford L. Neuman

CASINOS U.S.A., INC.

By:  /s/ Doug James

Doug James

ASTRAEA INVESTMENT MANAGEMENT, L.P.

By:  

/s/ Bruce Leadbetter

Bruce Leadbetter

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