Document:

Exhibit 10.27

                                ESCROW AGREEMENT

     THIS ESCROW AGREEMENT is made and entered into as of this 29th day of
March, 2000, by and between the CITY OF BLACK HAWK, COLORADO (the "City"),
WINDSOR WOODMONT BLACK HAWK RESORT CORP., a Colorado corporation (the
"Developer"), and NORWEST BANK MINNESOTA, N.A. (the "Escrow Agent").

                                R E C I T A L S:
                                ----------------

     A. The City and Developer have entered into a Site Improvement Agreement
pursuant to Section 18-241(3) of the City of Black Hawk Municipal Code.

     B. Pursuant to paragraph 2 of the Site Improvement Agreement and Section
18-241(3) of the City of Black Hawk Municipal Code, the Developer is required to
provide Completion Funds to the City in the amount of Five Million Seven Hundred
Ninety-four Thousand Five Hundred Twenty-two and 80/100 Dollars ($5,794,522.80),
which amount constitutes 110% of the amount necessary to complete the Excavation
Project which is the subject matter of the Site Improvement Agreement.

     C. The Completion Funds are to be held in escrow for the benefit of the
City to be utilized and disbursed pursuant to the terms of this Escrow
Agreement.

     D. The Escrow Agent has agreed to hold the funds in escrow, as provided in
the Site Improvement Agreement and pursuant to this Escrow Agreement.

     NOW, THEREFORE, in consideration of the above Recitals, which are a
material part of this Agreement, and the mutual promises and covenants
hereinafter set forth, the parties hereto agree as follows:

     1. The Developer has deposited the sum of Five Million Seven Hundred
Ninety-four Thousand Five Hundred Twenty-two and 80/100 Dollars ($5,794,522.80)
(the "Completion Funds") in Account No. 13650800, at Norwest Bank Minnesota,
N.A. (the "Escrow Account"), to be held in the name of Escrow Agent for the use
and benefit of the Developer and the City, pursuant to the terms set forth
below.

     2. The Completion Funds are to be used solely and exclusively for the
completion of an excavation project to be performed by D.H. Blattner & Sons,
Inc. (the "Excavation Contractor") for the Developer on a development project in
the City commonly known and referred to as Black Hawk Casino by Hyatt. The
Excavation Contractor and Developer have entered into the Standard Form of
Agreement between Owner and Contractor dated May 14, 1998, as amended by an
Amendment dated June 15, 1998 and by a Second Amendment dated December 31, 1999
(collectively the "Excavation Contract"). The Excavation Contract is
incorporated herein by reference.

<PAGE>

                                      -2-

     3. The Escrow Agent is directed and authorized to disburse the Completion
Funds from the Escrow Account to the Excavation Contractor upon the satisfaction
of the following requirements:

            (A) Receipt of an Application for Payment from the Excavation
Contractor (which Application shall be made no more than once per month and
shall be tied to progress toward completion of the excavation project, as
identified in the Application), approved for payment by the Developer, and RE
Tech & Incorporated, as the Independent Construction Consultant (the AICC@),
pursuant to that certain Cash Collateral and Disbursement Agreement among Sun
Trust Bank, Hyatt Gaming Management, Inc., First American Heritage Title
Company, RE Tech & Incorporated, and Developer dated as of March 14, 2000 (the
ACCDA@); and

            (B) Written acknowledgment from the Development Coordinator of the
City that the Application for Payment may be paid. The City's affirmation shall
not constitute approval by the City of the Excavation Project, or any portion
thereof.

     4. Upon approval of an Application for Payment from the Excavation
Contractor by the Developer, Developer shall provide a complete copy of the
Application for Payment to the City together with written notice that the
Developer has approved the same. Upon receipt of the Application for Payment and
Developer=s notice of approval, the City shall have five (5) business days
within which to provide the acknowledgment referenced in paragraph 3(B) above to
the Escrow Agent. Such acknowledgment shall not be unreasonably denied or
withheld by the City.

     5. Upon completion of the Excavation Contract by the Developer, as provided
in Section 18-254 of the City of Black Hawk Municipal Code, Escrow Agent shall
be jointly directed and authorized by the City and the Developer to return all
undisbursed Completion Funds then remaining in the Escrow Account to the
Developer. Such funds shall be transferred by Escrow Agent to, and deposited in
the Construction Disbursement Accounts under the CCDA.

     6. Notwithstanding any provision herein to the contrary, in the event work
is stopped on the Excavation Contract, for a period of ten (10) consecutive days
or more, other than for a demonstrated force majeure, the Escrow Agent is
authorized and directed to, and the Escrow Agent shall disburse then remaining
Completion Funds from the Escrow Account to the City, upon demand by the City,
pursuant to paragraph 3 of the Site Improvement Agreement. The form of
instruction to be provided by the City to the Escrow Agent is attached hereto
and incorporated herein as Exhibit A.

     7. The Escrow Agent shall not make any disbursement of Completion Funds to
the Excavation Contractor pursuant to paragraph 3 above unless and until all
conditions to such disbursement under Section 9.2 of the CCDA have been

<PAGE>

                                      -3-

fulfilled, and such disbursement shall be subject to all the conditions and
requirements of a disbursement out of the Construction Disbursement Accounts
under the CCDA.

     8. All notices required under this Escrow Agreement shall be in writing and
shall be hand delivered or sent by registered or certified mail, return receipt
requested, postage prepaid, to the addresses of the parties herein set forth.
All notices to be given shall be considered effective upon hand delivery or 72
hours after deposit in the United States Mail (in the event of mailed notice, it
shall also be sent by facsimile transmission to the numbers set forth below,
with confirmed receipt). Either party by notice so given may change the address
to which future notices shall be sent.

                  Notice to the City:

                  Development Coordinator
                  City of Black Hawk
                  P.O. Box 17
                  Black Hawk, Colorado 80422
                  Fax No.: (303) 582-5221

                  With a copy to:

                  James S. Maloney, Esq.
                  Black Hawk City Attorney
                  Hayes, Phillips & Maloney, P.C.
                  1350 Seventeenth Street, Suite 450
                  Denver, Colorado 80202
                  Fax No.: (303) 825-1629

                  Notice to Developer:

                  Windsor Woodmont Black Hawk Resort Corp.
                  2231 Valdina Street
                  Dallas, Texas 75207
                  Attention: Daniel P. Robinowitz
                  Fax No.: (214) 631-4945

<PAGE>

                                      -4-

                  With a copy to:

                  Scott D. Albertson, Esq.
                  Holley, Albertson & Polk, P.C.
                  1667 Cole Boulevard, Suite 100
                  Golden, Colorado 80401
                  Fax No.: (303) 233-2860

                  Notice to Escrow Agent:

                  Norwest Bank Minnesota, N.A.
                  Master Trust and Custody
                  3300 West Sahara, 1st Floor
                  Las Vegan, Nevada 89102
                  Attention: Kristy M. Perez
                  Fax No.: (702) 765-3195

     9. The laws of the state of Colorado shall govern the validity, performance
and enforcement of this Escrow Agreement. Should any party institute legal suit
or action for enforcement of any obligation contained herein, it is agreed that
venue of such suit or action shall be in Gilpin County, Colorado.

     10. Developer shall be responsible for payment of all fees and expenses of
Escrow Agent, pursuant to the schedule attached hereto and incorporated herein
as Exhibit B.

     IN WITNESS WHEREOF, the parties have set their hands and seals as of the
date and year first above written.

                                           CITY OF BLACK HAWK, COLORADO

                                           BY:  /s/  Kathryn E. Eccker
                                              -------------------------------
                                                     Kathryn E. Eccker, Mayor
ATTEST:
By:  /s/  Deborah S. Yancy
  --------------------------------
          Deborah S. Yancy, CMC,
          City Clerk

APPROVED AS TO FORM:

By:  /s/  James S. Maloney
  --------------------------------
          James S. Maloney,
          City Attorney

<PAGE>

                                      -5-

                                           WINDSOR WOODMONT BLACK HAWK
                                           RESORT CORP.

                                           BY:  /s/  Daniel P. Robinowitz
                                              ---------------------------------
                                                     Daniel P. Robinowitz,
                                                     President

STATE OF Colorado  )
                   ) SS.
COUNTY OF Jefferson)

     The foregoing instrument was acknowledged before me this 29th day of March,
2000 by Daniel P. Robinowitz, as President of Windsor Woodmont Black Hawk Resort
Corp., a Colorado corporation.

     My commission expires: 4/12/2004

     WITNESS my hand and official seal.

                                           By:  /s/  Kathleen W. Cooper
                                           ------------------------------------
                                                     Kathleen W. Cooper
                                                     Notary Public

                                           NORWEST BANK MINNESOTA, N.A.

                                           BY:  /s/  Dawn R. Lake
                                              ---------------------------------
                                                     Dawn R. Lake
                                                     Assistant Vice President

STATE OF Nevada)
               ) SS.
COUNTY OF Clark)

     The foregoing instrument was acknowledged before me this 29th day of March,
2000 by /s/ Dawn R. Lake as Assistant Vice President of Norwest Bank Minnesota,
N.A.

         My commission expires:

         WITNESS my hand and official seal.

                                           By:  /s/  Marie C. Bry
                                           ------------------------------------
                                                     Marie C. Bry
                                                     Notary Public

<PAGE>

                                   EXHIBIT A

                      FORM OF INSTRUCTION TO ESCROW AGENT

     The undersigned a duly authorized representative of the CITY OF BLACK HAWK
COLORADO (the "City"), hereby instructs Norwest Bank of Minnesota (the "Escrow
Agent") with reference to Paragraph 6 of the Escrow Agreement, a copy of which
is attached hereto, to disburse the remaining Completion Funds from the Escrow
Account to the City of Black Hawk.

IN WITNESS WHEREOF, City has extended and delivered this Instruction to the
Escrow Agent as of the               day of                 , 2000.

                                           CITY OF BLACK HAWK, COLORADO

                                           By:
                                              ---------------------------------

                                           Name
                                               --------------------------------

                                           Title
                                                -------------------------------

<PAGE>

                                    EXHIBIT B

                 WINDSOR WOODMONT BLACK HAWK RESORT CORPORATION
                               CITY OF BLACK HAWK
                               ESCROE FEE SHCEDULE

ACCEPTANCE FEE:                                                    $1,500.00

For initial services including examination of the Escrow Agreement and all
supporting documents. This is a one-time fee payable upon the opening of the
account.

ADMINISTRATION FEE:                                                $1,500.00

An annual  charge or any  portion  of a  12-month  period  thereof.  This fee is
payable upon the opening of the account and annually thereafter.  This charge is
not prorated for the first year.

All balances will be maintained in Well Fargo Stagecoach Money Market Funds.

EXTRAORDINARY SERVICES:

For any services  other than those covered by the  aformentioned,  a special per
hour charge will be made to commensurate with the character of the service, time
required and responsibility  involved. Such services include but are not limited
to excessive  administrative time,  attendance at closings,  specialized reports
and record-keeping, unusual certification, etc.

Fee schedule is in effect 3/22/00 through 12/31/2002.

Windsor Woodmont Black Hawk Resort Corporation

By:
   --------------------------------

    Its
       ----------------------------

Date
    -------------------------------

Norwest Bank Minnesota, N. A.

By:  /s/  Dawn R. Lake
   --------------------------------
          Dawn R. Lake
          Assistant Vice President

Date
    -------------------------------Exhibit 10.28

                              Settlement Apreement
                              --------------------

     This Settlement Agreement is made and entered into as of January 31, 2000
("Agreement"), by and among WINDSOR WOODMONT, LLC, a Colorado limited liability
company ("Owner"), and D.H. BLATTNER & SONS, INC., a Minnesota corporation
("Contractor"), in connection with the following.

                                    RECITALS
                                    --------

     A. Contractor and Owner entered into that certain Second Amendment to
Standard Form of Agreement between Owner and Contractor, dated December 31, 1999
(the "Second Amendment"), which amended the Supplemented Agreement, Supplemented
General Conditions and First Amendment (as said documents are defined in the
Second Amendment, and which documents are collectively referred to herein as the
"Original Agreement"), wherein Contractor agreed to continue to provide its
services in connection with the excavation of the real property located in the
City of Black Hawk, Colorado, in connection with the construction of a casino
thereupon (the "Project").

     B. Contractor had previously commenced and provided its services in
connection with the Original Agreement, until the development of the Project was
suspended, at which time Contractor had provided a substantial amount of
services for which it was not compensated. As a result of the suspension of the
development of the Project, various actions were undertaken by and against the
parties hereto by the parties hereto and by other parties not subject of this
Agreement (the "Third Parties"), which actions remain at issue as of the date
hereof.

     C. Contractor did demand payment for its services. Contractor did file and
amend a lien against upon the Project pursuant to (i) that certain Statement of
Lien dated February 8, 1999, and recorded February 23, 1999 in Book 663, at Page
77of the Offidial Records of Gilpin County, Colorado, and re-recorded May 5,
1999 in Book 669, at Page 159 of the Official Records of said county, and (ii)
that certain Amended Statement of Lien dated June 21, 1999, and recorded July 6,
1999 in Book 673, at Page 353 of the Official Records of said county
(collectively, the "Liens"'), and also file a complaint and record a list
pendings upon the Project pursuant to that certain Notice of List Pendings,
recorded in Book 669, at Page 447 of the Official Records of said county (the
"List Pendings").

     D. Contractor's subcontractor, WAGNER EQUIPMENT CO. ("Subcontractor", did
also file a lien against upon the Project pursuant to that certain Statement of
Lien dated March 3, 1999, and recorded March 16, 1999 in Book 664, at Page 423
of the Official Records of said county (the "Subcontractor Lien").

     E. The parties hereto now desire, by execution of this Agreement, in
connection with the making of the Second Amendment, to release unconditionally
the Liens, the List Pendings,  and the Subcontractor  Lien upon the Project,

<PAGE>

upon the payment to Contractor of the sum of Three Million Three Hundred Thirty
Two Thousand Thirty-Two Dollars ($3,332,032.00), as set forth in paragraph 12 of
the Second Amendment.

     F. Concurrently herewith and as a condition concurrent with the validity
and enforceability of this Agreement, all actions of the Third Parties against
Owner and Contractor shall be effectively dismissed with prejudice, or otherwise
disposed of such that neither Owner nor Contractor shall have any further
liability to the Third Parties arising in any manner in connection with the
Project.

     NOW, THEREFORE, for good and valuable consideriation, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows:

                                   AGREEMENT

     1. Consideration to Contractor. In connection with this Agreement, upon the
Effective Date, Contractor shall receive the sum of Three Million Three Hundred
Thirty Two Thousand Thirty-Two Dollars ($3,332,032.00), as set forth in
paragraph 12 of the Second Amendment. In addition, upon the Effective Date,
Owner shall have deposited the sum of Eight Hundred Seventy Seven Thousand Nine
Hundred Ninety-Five Dollars ($877,995.00), representing the approximate amount
of the final payment due to Contractor, into an escrow account administered by a
duly licensed escrow holder or conunercial bank reasonably acceptable to the
parties hereto, for the purposes of providing payment for Contractor's final
payment request.

     2. Release of Liens. List Pendings. and Subcontractor Lien. By no later
than the Effective Date, the following shall occur (or have occurred):

        (a) Contractor shall deliver to a licensed escrow holder in the State of
Colorado as the parties shall determine, a duly executed and acknowledged lien
release in the appropriate form designated by such escrow holder,
unconditionally releasing the Liens upon the Project, and Contractor shall have
provided all pleadings necessary to obtain a release and discharge of the List
Pendings in recordable form releasing the List Pendings with prejudice.

        (b) Contractor shall cause Subcontractor to deliver to the
aforementioned escr9w holder a duly executed and acknowledged lien release in
the appropriate form designated by such escrow holder, unconditionally releasing
the Subcontractor Lien upon the Project.

3.          Conditions Precede

        (a) The effectiveness and validity of this Agreement and the releases
contemplated hereby are conditioned upon (i) each of the parties having execut
ed and delivered to each of the other parties hereto a counterpart of this

                                      -2-

<PAGE>

Agreement,  and (iii) the  payment of the sum of  $3,332,032.00  as set forth in
paragraph  12 of the  Second  Amendment.  The date  upon  which  all  conditions
specified  in this  Section 3 have been  satisfied  is referred to herein as the
"Effective Date".

        (b) The effectiveness and validity of this Agreement and the releases
contemplated hereby are further conditioned upon the effective dismissal with
prejudice, or other satisfactory disposition, no later than the Effective Date,
of all actions by any and all the Third Parties of all claims which were brought
or could have been brought by the Third Parties against Owner and Contractor,
such that neither Owner nor Contractor shall have any further liability to the
Third Parties arising in connection with the Project.

     4. Advice of Counsel. In executing this Agreement, all parties acknowledge
that they have consulted with and had the advice of their own counsel, and that
each has executed this Agreement after careful and independent investigation,
and not under fraud, duress or undue influence.

     5. Necessary parties. All parties represent and warrant that they will not
have and have not assigned or otherwise transferred or subrogated any interest
in any claims which are the subject matter hereof that they may have against
each other, and each agrees to indemnify, defend and hold the other harmless
from any liability, loss, claims, demands, costs, expenses, or attorneys' fees
incurred by the others as a result of such assignment or transfer to any such
person or entity.

     6. Choice of Law and Construction. This Agreement shall be governed by and
construed in accordance with the laws of the State of Colorado. Each of the
parties to this Agreement has participated equally in the negotiation and
preparation of this Agreement and, as a result, any provisions set forth herein
which may be ambiguous shall not be interpreted in a manner so as to prejudice
any party more than another but shall be construed as a whole and in accordance
with their fair meaning.

     7. Further Assurances. Each of the parties shall hereafter execute all
documents and do all that is necessary, convenient or desirable in the
reasonable opinion of any other party to effect the provisions of this
Agreement.

     8. Integration. This Agreement memorializes and constitutes the entire
Agreement and understariding between the parties, and supersedes and replaces
all prior negotiations, proposed agreements and agreements, whether written or
unwritten, concerning the matters covered hereby. Each of the parties to this
Agreement acknowledges that no other party, nor any agent or attorney of any
other party has made any promises, representations, or warranties whatsoever,
expressly or impliedly, concerning the matters covered hereby which is not
expressly contained in this Agreement, and each party further acknowledges that
he/she/it has not executed this Agreement in reliance upon any collateral
promise, representation, warranty, or in reliance upon any belief as to any fact
or matter not expressly recited in this Agreement concerning the matters covered
hereby.

                                      -3-

<PAGE>

     9. Execution in Counterparts. The parties agree that this Agreement may be
executed in any number of counterparts so long as each signatory hereto executes
at least one such counterpart. Each such counterpart shall constitute one
original but all such counterparts taken together shall constitute one and the
same instrument.

     10. Severability. Should any provision of this Agreement be declared or
determined by any court to be illegal or invalid, the validity of the
remaining parts, terms, or provisions shall not be affected thereby and said
illegal or invalid part, term or provision shall be deemed not to be a part of
this Agreement.

NO FURTHER TEXT ON THIS PAGE

                                      -4-

<PAGE>

     This Settlement Agreement has been executed as of the date and year first
above written.

"Owner"                                       "Contractor"

WINDSOR WOODMONT, LLC,                         D.H. BLATTNER & SONS, INC.,
a Colorado limited liability company           a Minnesota corporation

By:  /s/  Daniel P. Robinowitz                 By:  /s/  David H. Blattner, Jr.
   ---------------------------------              -----------------------------
          Daniel P. Rabinowitz, Manager,                 David H. Blattner, Jr,
          Executive Vice President                       General Counsel

                                      -5-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00015-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00015-of-00352.parquet"}]]