Document:

Exhibit 10.20(A)

 

AGREEMENT AND RESERVATION OF RIGHTS REGARDING MONTBLEU

 

For
good and valuable consideration, the undersigned parties, and each of them
(“Parties”) agree to this Agreement and Reservation of Rights Regarding
MontBleu, which shall be effective April 2, 2008. The Parties agree as
follows:

 

1.                                       On or about
January 1, 2000, Park Cattle Co., a Nevada corporation (“Park Cattle”),
entered into an Amended and Restated Net Lease Agreement (“Lease’’) with Desert
Palace, Inc., a Nevada corporation (“DPI”), with regard to the property
then known as Caesars Tahoe, located at 55 Highway 50, Stateline, Nevada, and
described more fully in the Lease.

 

2.                                       In an
Assignment and Assumption of Lease dated June 10, 2005 (“Assignment and
Assumption”), DPI assigned all of its right, title, benefits, privileges,
estate and interest in, to and under the Lease to Columbia Properties Tahoe,
LLC, a Nevada limited liability company (“Columbia Tahoe”). Columbia Tahoe now
operates the leased premises under the name MontBleu Resort Casino &
Spa.

 

3.                                       Park Cattle has
not released DPI from any of its obligations under the Lease.

 

4.                                       Park Cattle
contends that Columbia Tahoe has breached its obligations under the Lease.

 

5.                                       With the aim of
avoiding litigation, Columbia Tahoe agrees to act, and execute documents, as
set forth below. Park Cattle, however, reserves any and all past, present and future claims and rights with respect to the
Lease, including its claims and rights against Columbia Tahoe and all other
persons and entities, and nothing herein is intended as, or shall be construed
as, a waiver by Park Cattle of any of its claims or rights. Park Cattle
expressly reserves any and all claims.

 

6.                                       Columbia Tahoe,
and its direct and indirect owners, will execute the Tolling Agreement that is
appended hereto as Exhibit 1 concurrently with the execution of this
Agreement and Reservation of Rights.

 

7.                                       Columbia Tahoe
and Park Cattle have negotiated the MontBleu Lease Amendment (“Amendment”) that
is appended hereto as Exhibit 2. Park Cattle has approved the Amendment.
Columbia Tahoe has approved the Amendment, subject to creditor approval, and
will promptly and diligently seek such creditor approval. Creditors will
indicate their approval of the Amendment by executing the Consent and Subordination
that is part of the Amendment, and original signatures from said creditors
shall be provided to Park Cattle when Columbia Tahoe executes and delivers the
Amendment to Park Cattle. The Amendment will be effective immediately upon
execution and delivery to Park Cattle.

 

8.                                       Until approval from creditors is obtained,
Columbia Tahoe and Park Cattle will act in full conformity with the Amendment,
including without limitation the provisions in the Amendment that require
Columbia Tahoe to provide documents and to allow inspection and testing. On or
before May 16, 2008, Columbia
Tahoe shall produce to Park Cattle all

 

B-1

 

documents
that are identified in the Amendment as new Sections 6.5 and 7.3(c) of the
Lease, including without limitation all documents relating to renovations,
alterations, repairs and/or improvements to the Premises since
January 2005. Said Sections 6.5 and 7.3(c) are incorporated into this
Agreement and Reservation of Rights as though fully set forth herein.

 

9.                                       Columbia Tahoe
must pay the principal amount of Fifteen Million Dollars ($15,000,000.00) to
Park Cattle should either of the following occur: (a) if Columbia Tahoe
has not executed and delivered the Amendment (with any and all necessary
creditor consents) to Park Cattle by November 30, 2008, the payment must
be made on or before that date; or (b) if Columbia Tahoe presents Park
Cattle with a “Notice of Offer” as described in Section 10.1 of the Lease
on or before November 30, 2008, but has not previously executed and
delivered the Amendment to Park Cattle, then the payment must be made
contemporaneously with delivery of the Notice of Offer. Payment, if required,
shall be made in the manner provided by Paragraph 2 of the Stipulation for
Entry of Judgment (to which this Agreement and Reservation of Rights is
appended), and interest shall accrue from the due date on any unpaid amount as
provided therein. If payment of $15,000,000.00 is made under this paragraph,
then Park Cattle shall not be entitled to any other $15,000,000.00 payment
provided by the MontBleu Lease Amendment; provided, however that
notwithstanding the foregoing, Park Cattle will continue to be entitled to
receive the assignment fee.

 

10.                                 If Columbia
Tahoe, despite diligent efforts, is unable to obtain creditor approval of the
Amendment prior to November 30, 2008, then it may provide written notice
to Park Cattle on or before November 30, 2008 of its inability to do so.
In that event, the time periods in Section 9 (subsections (a) and
(b)) above will be extended from November 30, 2008 through and including
May 31, 2009, provided that Columbia Tahoe pays to Park Cattle, on or before November 30, 2008, an extension fee in the amount of One
Million Dollars ($1,000,000.00). The extension fee will be paid in the manner
provided by Paragraph 2 of the Stipulation for Entry of Judgment. The extension
fee will not be refunded to Columbia Tahoe, nor will it be credited against the
fee due under Section 9 above.

 

11.                                 The Parties
agree that the Amendment is fair, equitable and in their mutual interest. Even
if Columbia Tahoe does not ultimately execute and deliver the Amendment to Park
Cattle, the Lease shall be construed consistently with the Amendment to the
greatest extent possible, and Columbia Tahoe shall not oppose any reasonable
construction of the Lease that is consistent with the Amendment.

 

12.                                 Columbia Tahoe
must pay Park Cattle, on or before May 1,
2008, the sum of One Hundred Fifty Thousand Dollars ($150,000.00), to
compensate Park Cattle for its lease enforcement and inspection expenses since
November 2007. Payment shall be made in the manner provided by Paragraph 2
of the Stipulation for Entry of Judgment, and interest shall accrue from the
due date on any unpaid amount as provided therein.

 

13.                                 This Agreement
and Reservation of Rights does not preclude Park Cattle at
any time from taking any action it deems appropriate with regard to the Lease,
nor does it excuse

 

B-2

 

Columbia
Tahoe or any other person or entity from compliance with any part of the Lease.

 

14.                                 This Agreement and
Reservation of Rights binds Columbia Tahoe and its successors and assigns, and
inures to the benefit of Park Cattle, and its successors and assigns.

 

15.                                 The signatories below are
duly authorized to execute this Agreement and Reservation of Rights.

 

16.                                 This Agreement and
Reservation of Rights will be governed by, and construed under, the laws of the
State of Nevada without regard to choice of law principles. The Parties submit
themselves to the jurisdiction of the courts of the State of Nevada, and agree
that any disputes arising hereunder shall be resolved in a court of competent
jurisdiction in Nevada.

 

17.                                 To fully compensate Park
Cattle for all direct and indirect costs, if Park Cattle is the prevailing
party in any action against Columbia Tahoe to enforce or interpret this
Agreement and Reservation of Rights, Park Cattle shall be entitled to 200
percent of its actual attorneys’ fees, costs and expenses (including without
limitation the fees of expert consultants and witnesses), in addition to any
other remedy entered by the Court. Columbia Tahoe agrees that this provision is
not an unenforceable penalty.

 

18.                                 This Agreement and
Reservation of Rights may not be changed except in a writing executed by the
Parties, and contains the entire agreement between the Parties with respect to
the subject matter hereof.

 

19.                                 This Agreement and
Reservation of Rights may be signed in counterparts and signatures by facsimile
may be treated as originals.

 

	
  COLUMBIA
  PROPERTIES TAHOE, LLC

  	
   

  
	
  a
  Nevada limited liability company

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
  Its:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  PARK CATTLE CO., a Nevada corporation

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
  Its:

  	
   

  	
   

  

 

B-3

 

Exhibit 1

 

TOLLING AGREEMENT REGARDING MONTBLEU

 

For
good and valuable consideration, the undersigned parties, and each of them
(“Tolling Parties”) agree as follows:

 

1.                                       On or about
January 1, 2000, Park Cattle Co., a Nevada corporation (“Park Cattle”),
entered into an Amended and Restated Net Lease Agreement (“Lease”) with Desert
Palace, Inc., a Nevada corporation (“DPI”), with regard to the property
then known as Caesars Tahoe, located at 55 Highway 50, Stateline, Nevada, and
described more fully in the Lease.

 

2.                                       In an
Assignment and Assumption of Lease dated June 10, 2005 (“Assignment and
Assumption”), DPI assigned all of its right, title, benefits, privileges,
estate and interest in, to and under the Lease to Columbia Properties Tahoe,
LLC, a Nevada limited liability company (“Columbia Tahoe”). Columbia Tahoe now
operates the leased premises under the name MontBleu Resort Casino &
Spa.

 

3.                                       Park Cattle has
not released DPI from any of its obligations under the Lease.

 

4.                                       Park Cattle
contends that Columbia Tahoe has breached its obligations under the Lease.

 

5.                                       Without
conceding the validity of the claims, the Tolling Parties hereby agree to toll, i.e., suspend, the running of any and all statutes
of limitations with respect to any and all claims or causes of action, whether
arising at law or in equity, and whether sounding in contract or tort, that
Park Cattle may have, or obtain in the future, pertaining in any way directly
or indirectly to the Lease, including without limitation the real property,
buildings and improvements that are the subject matter of the Lease, and any
amendments to the Lease.

 

6.                                       This Tolling
Agreement shall be effective as of April 2, 2008, and shall remain in
effect for ten (10) years, i.e.,
until 5:00 PM on March 31, 2018. None of the Tolling Parties may terminate
this Tolling Agreement.

 

7.                                       This Tolling
Agreement does not preclude Park Cattle at any time from taking any action,
including without limitation the commencement of litigation, that it may deem
appropriate with regard to the Lease, nor does it excuse Columbia Properties
Tahoe or any other person or entity from compliance with any part of the Lease.

 

8.                                       This Tolling
Agreements binds the Tolling Parties and their respective successors and assigns, and
inures to the benefit of Park Cattle, and its successors and assigns.

 

9.                                       The signatories
below arc duly authorized by the Tolling Parties to execute
this Tolling Agreement.

 

B-4

 

10.                                 This Tolling
Agreement will be governed by, and construed under, the laws of the State of
Nevada without regard to choice of law principles. Tolling Parties submit
themselves to the jurisdiction of the courts of the State of Nevada, and agree
that any disputes arising hereunder shall be resolved in a court of competent
jurisdiction in Nevada.

 

11.                                 This Tolling
Agreement may not be changed except in a writing executed by Park Cattle, and
contains the entire agreement between the parties with respect to the subject
matter hereof.

 

12.                                 This Tolling
Agreement may be signed in counterparts and signatures by facsimile may be
treated as originals.

 

	
  WILLIAM
  J. YUNG, an individual

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  TROPICANA
  CASINOS AND RESORTS, INC.,

  	
   

  
	
  a
  Nevada corporation

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
  Its:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  TROPICANA ENTERTAINMENT HOLDINGS, LLC

  	
   

  
	
  a Delaware limited liability company

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
  Its:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  TROPICANA ENTERTAINMENT INTERMEDIATE HOLDINGS, LLC

  
	
  a Delaware limited liability company

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
  Its:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  TROPICANA ENTERTAINMENT, LLC

  	
   

  
	
  a Delaware limited liability company

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
  its:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  COLUMBIA PROPERTIES TAHOE, LLC

  	
   

  
	
  a Nevada limited liability company

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
  Its:

  	
   

  	
   

  

 

B-5

 

Exhibit 2

 

MONTBLEU LEASE AMENDMENT

 

The
Amended and Restated Net Lease Agreement (“Lease”) Between Park Cattle Co., as
Landlord, and Columbia Properties Tahoe, LLC, as assignee of Desert
Palace, Inc., as Tenant, dated January 1, 2000, involving the Douglas
County, Nevada, real property described in the attachment hereto, is deemed
amended effective April 2, 2008, by this Lease Amendment (“Amendment”) as
follows:

 

I.                                         Section 1.2
of the Lease is amended to read as follows:

 

The
Original Term of this Lease shall commence at 12:01 a.m. on January 1, 2000 (the “Commencement Date”), and
shall end at 11:59 p.m. on December 31, 2028 (the “Original Term”).
Notwithstanding the foregoing, from and after January 1, 2018, Landlord
may terminate this Lease by giving Tenant six (6) months written notice of
such termination (the “Early Termination Date”), and by paying Tenant Fifteen
Million Dollars ($15,000,000.00) in cash on the Early Termination Date (the
“Buy-Out Right”). The provisions of Article XIV of this Lease shall apply
to the Early Termination Date. Landlord’s termination right as described in
this section shall continue from January 1, 2018 through the remainder of
the Original Term and through the Second Term (as defined in Article IV of
this Lease), if any. In the event that this Lease is assigned before an
election by Landlord to exercise its Buy-Out Right under Section 10.4 of
this Lease, then the Buy-Out Right set forth in this Section 1.2 shall
terminate and be of no force or effect.

 

II.                                     Article VI of the Lease
is amended to add three new sections as follows:

 

Section 6.3
Starting in 2008, Tenant must
expend at least five percent (5%) of annual Gross Revenues from the Enterprise on real property
capital expenditures at the Premises, including, without limitation, the
replacement and upgrade of electrical, plumbing, mechanical, fire safety, and
other building systems that have reached or will reach the end of their useful
lives, and the renovation of guest rooms and other facilities, so as to maintain the Premises
(including the front of the house, the back of the house, and the parking
areas) at all times in a condition that is both first class and competitive
with other hotel-casinos at Stateline, Nevada, and also in compliance with all
laws and regulations of all governmental authorities having jurisdiction over
the Premises. The five percent
expenditure requirement described in this section shall be a minimum, not a
maximum, and the expenditure of the minimum amount shall not create any
presumption of compliance

 

B-6

 

with
Section 6.1 or other applicable provisions of this Lease. Expenditures
made for furniture, furnishings and equipment that do not become a part of the
real property under Nevada law, and for gaming equipment, shall not be
considered in measuring Tenant’s compliance with the requirements of this
section. For purposes of this section, the term “Gross Revenues” means all
amounts received, whether by cash or credit, from the operation of all of the
facilities on the Premises and the Enterprise now known as MontBleu, including,
but not limited to, rooms, bars, restaurants, concessions and gaming, and shall
be measured by Lease Year.

 

Section 6.4             In order to assist in determining
compliance with the requirements of Section 6.3, the Tenant shall
separately keep for the Enterprise accounting records sufficient to furnish all
of the information necessary to compute Gross Revenues and to determine the
amount and nature of the real property capital expenditures made. Such
accounting records shall include detailed information concerning the nature of
each expenditure, the date of the expenditure, and to whom payment was made.
All accounting records required to be kept shall be available for inspection
and copying by Landlord or its authorized agents, attorneys or accountants, at
any reasonable time, and shall be made available at the Premises or at such
other location as Landlord and Tenant may mutually agree, and Tenant shall
allow and facilitate the duplication of such documents by Landlord. Not less
than thirty (30) days after the end of each Lease Year, the Tenant will provide
Landlord with a statement of the Gross Revenues of the
Enterprise for the year, and a statement of amounts spent pursuant to
the requirements of Section 6.3, reported upon and certified by
independent certified public accountants, who may be the auditors for the
Tenant, and a computation approved in writing by those independent certified
public accountants, showing that the provisions of Section 6.3 have been
satisfied for the prior Lease Year. Landlord may, upon notice given to Tenant,
object to such statement and give notice to Tenant under
Section 11.1(b) that Tenant has failed to comply with the
requirements of Section 6.3.

 

Section 6.5             Tenant shall provide to Landlord on
an ongoing basis, and in any event within forty-five (45) days of a written
request by Landlord: (a) any and all test and/or inspection reports
obtained or received by Tenant or its affiliates, agents or attorneys with
respect to the condition of the Premises, including, without limitation, any
tests for the presence of asbestos or mold, and any tests regarding
environmental conditions at the Premises; and (b) copies of any
communications with Desert Palace, Inc., or any business entity related to Desert
Palace, Inc., or any representative

 

B-7

 

of
any such entity, with regard to the Premises, the acquisition of the leasehold
from Desert Palace, Inc., or indemnification. All such documents, whether
in paper or electronic form, shall be produced at the Premises or at such other
location as Landlord and Tenant may mutually agree, and Tenant shall allow and
facilitate the duplication of such documents by Landlord.

 

III.                                 Section 7.3
of the Lease is amended to read as follows:

 

(a)           Subject
to the provisions of Article XXI concerning confidentiality, at least
thirty (30) days prior to the beginning of each Lease Year, Tenant shall create
and provide a detailed annual budget to Landlord that sets forth, on an
itemized basis, Tenant’s plans for real property capital expenditures on the
Premises and expenditures on furniture, furnishings and equipment for the
Premises. The first such budget for the 2009 calendar year shall be provided to
Landlord on or before December 1, 2008.

 

(b)           Commencing
with the quarter ending March 31, 2009, within thirty (30)
days after the end of each calendar quarter, Tenant shall provide a detailed
report to Landlord that compares, on an itemized basis, actual expenses for
such real property capital expenditures and expenditures on furniture,
furnishings and equipment against budgeted expenses, and which provides
detailed explanations for any substantial deviation from the original budget.

 

(c)           In addition, Tenant shall gather and
provide to Landlord, on an ongoing basis, and in any event within forty-five (45)
days of Landlord’s written request, any and all documents (both paper and
electronic) in its possession, custody or control relating to any past, present
or future renovations, alterations, repairs and/or improvements to the
Premises, including without limitation, plans, drawings, requests for
proposals, estimates, contracts, change orders, spreadsheets, accounting
reports, correspondence, progress reports, and permits. Tenant’s obligation to
gather and provide records shall encompass any records in the possession of its
affiliates and agents. All such documents shall be produced at the Premises or
at such other location as Landlord and Tenant may mutually agree, and Tenant
shall allow and facilitate the duplication of such documents by Landlord.

 

IV.                                 Section 10.1
of the Lease is amended by lengthening the period of the Matching Option  from 60 days to 120
days.

 

V.                                     Section 10.2
of the Lease is amended by lengthening the period in which the closing must occur
from 120 days to 180 days after the notice of exercise of a Matching Option is
given.

 

B-8

 

VI.           Article
X of the Lease is amended to add a sections as follow:

 

Section 10.4
The Landlord’s right of first refusal set forth in Section 10.1 above is
intended to apply to, and does apply to, any offer to purchase the Tenant’s
rights under the Lease and the Enterprise being operated by Tenant on the
Premises. In addition, Landlord’s right of first refusal set forth in
Section 10.1 above will apply even if the offer to purchase Tenant’s
rights under the Lease and the Enterprise is part of a larger transaction
involving other properties of Tenant or any affiliate of Tenant. In any case
where the Landlord’s right of first refusal applies in connection with such a larger
transaction, the purchase price for the Tenant’s rights under the Lease and the
Enterprise shall be determined by one or more qualified person selected by
Landlord in Landlord’s sole and absolute discretion, which purchase price will
be determined within the time allowed for exercising the Matching Option. In
any case where Landlord exercises its right of first refusal, Landlord shall
receive a credit against the purchase price equal to Fifteen Million Dollars
($15,000,000.00) plus the assignment fee required by Section 15.1 of this
Lease.

 

Section 10.5
If Tenant, or any owner or affiliate of Tenant, decides to make Tenant’s rights
under this Lease available for sale, then Tenant shall provide written notice
to Landlord within five (5) business days of making that decision.

 

VII.                             Section 11.2(a) of
the Lease is amended by deleting the phrase “any reasonable costs, including
but not limited to reasonable attorneys’ fees, incurred by the Landlord in
recovering possession of the Premises” and replacing that phrase with the
following phrase:

 

to
fully compensate Landlord for direct and indirect costs, 200 percent of the
actual attorneys’ fees, costs and expenses (including without limitation the
fees of expert consultants and witnesses) incurred by the Landlord in
recovering possession of the Premises. Tenant agrees that this provision is not
an unenforceable penalty.

 

VIII.                         Section 15.1 of the
Lease is amended, by revising the first sentence of that section to
read as follows.

 

Subject
to the provisions of Article X, Tenant may assign or transfer this Lease,
or sublease the Premises or any material segment thereof, by paying Landlord an
assignment fee equal to the amount of fixed rent for the Lease Year in which
the assignment takes place, plus the sum of Fifteen Million Dollars
($15,000,000.00).

 

B-9

 

IX.           Section 15.5 of the Lease is
amended to read as follows:

 

The
provisions of this Article XV apply to any direct or indirect transfer by
the Tenant of this Lease to an affiliate as though such a transfer were a
transfer to a third party.

 

X.                                    Article XIX
of the Lease is amended to add a new Section 19.9 as follows:

 

The
provisions of this Article XIX shall apply to any Leasehold Mortgage
presently encumbering Tenant’s rights under this Lease, which Leasehold
Mortgage is in compliance with the requirement that the purpose of the
encumbrance be for alterations to the Premises. The provisions of Sections
19.1, 19.2, 19.3, 19.4, 19.5, 19.6, 19.7 and 19.8 are hereby deleted with
respect to any Leasehold Mortgage occurring after the date of this Amendment.
Tenant shall not incur any new mortgage or encumbrance without Landlord’s prior
express consent.

 

XI.                                Section 26.9
of the Lease is hereby amended to read as follows:

 

(a)  The Landlord may at any
reasonable time or times enter upon the Premises to inspect and photograph
them. The right to inspect includes without limitation the right to test. The
testing may include sample collection, diagnostic testing, intrusive testing,
and/or destructive testing.

 

(b)  If the Landlord’s inspection
and testing discloses health, safety or environmental problems or violations of
law, then the Tenant will pay for the Landlord’s actual inspection and testing
expenses upon written request by Landlord.

 

(c)  The Landlord may at any
reasonable time or times enter upon the Premises for purposes of making any
repairs which may be essential for the protection and maintenance of the
Premises which the Tenant fails to make after reasonable notice by Landlord and
an opportunity for Tenant to make such repairs. To fully compensate Landlord for
direct and indirect costs, 200 percent of the cost of any such repairs will be
payable immediately upon demand by the Tenant to the Landlord as additional
rent under this Lease. Tenant agrees that this provision is not an
unenforceable penalty.

 

XII.                            There is hereby added to the Lease a new Section 26.15 as follows:

 

To
fully compensate Landlord for direct and indirect costs, if Landlord is the
prevailing party in any action against Tenant to enforce or interpret this
Lease, Landlord shall be entitled to the award of 200 percent of its actual
attorneys’ fees, costs and

 

B-10

 

expenses
(including without limitation the fees of expert consultants and witnesses), in
addition to any other remedy entered by the Court. Tenant agrees that this
provision is not an unenforceable penalty.

 

XIII.                        There is hereby
added to the Lease a new article, Article XXIX, to read as follows:

 

Tenant
covenants to work cooperatively with Landlord with respect to performance of Tenant’s
obligations under the terms of the Lease, and to ensure an orderly termination
of the Lease when such termination occurs. Tenant agrees that Landlord may have
an owner’s representative on the Premises at all times, and that the Landlord
and its representatives will have access at all times to the Premises and all
buildings and improvements located thereon without notice or consent from
Tenant, and to all books and records related thereto (including without
limitation operating reports), in order to monitor and ensure Tenant’s
compliance with the terms and conditions of the Lease. Tenant shall allow and
facilitate the duplication of such books and records by Landlord and its
representatives. Landlord and its representatives will not have any responsibility
for, nor incur any liability with respect to, Tenant’s operations.

 

XIV.                        There is hereby added to
the Lease a new article, Article XXX, to read as follows:

 

(a)  Landlord has identified
material deficiencies in the condition of the Premises in correspondence to
Tenant beginning in January 2005 and continuing through March 2008.
Landlord anticipates that it will identify additional such deficiencies as its
inspections continue. Tenant must, at its sole cost, cure all such deficiencies
to Landlord’s reasonable satisfaction no later than March 31, 2011 such
that the Premises will be in full compliance with Section 6.1 and all
other provisions of the Lease.

 

(b)  Tenant shall commence
its efforts to cure the deficiencies as soon as practicable, and shall provide
Landlord with an action plan that shows that the work is proceeding
expeditiously and that Tenant is on track to achieve compliance by
March 31, 2011. The initial action plan shall be provided on or before
July 1, 2008.

 

(c)  Tenant must update the action
plan and provide Landlord with at least one detailed progress report per
quarter on Tenant’s efforts to cure the deficiencies

 

(d)  Tenant must permit Landlord
and its representatives to observe the efforts to cure the deficiencies. Tenant
shall provide Landlord with advance notice of at least one week prior to
undertaking

 

B-11

 

substantial
work, and the notice shall include a description of the work to be performed,
so that Landlord has the opportunity to observe the work. Nothing in this
Article XXX shall diminish Tenant’s obligations under the Lease with
respect to the condition and maintenance of the Premises.

 

In
the case of any inconsistency between the provisions of the Lease and this
Amendment, the provisions of this Amendment shall govern and control.

 

The
capitalized terms used in this Amendment shall have the same definitions as set
forth in the Lease to the extent that such capitalized terms are defined
therein and not redefined herein.

 

Except
as expressly modified herein, the Lease shall remain in full force and effect
and the parties shall be bound by all the terms and conditions thereof.

 

Landlord
and Tenant have duly executed this Amendment, which may be recorded in the
Douglas County, Nevada, public records, as of the day and year first above
written.

 

	
  LANDLORD:

  	
   

  	
  TENANT:

  
	
   

  	
   

  	
   

  
	
  Park
  Cattle Co., a Nevada corporation

  	
   

  	
  Columbia
  Properties Tahoe, LLC,

  
	
   

  	
   

  	
  a
  Nevada limited liability company

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By:

  	
   

  
	
  Its:

  	
   

  	
   

  	
  Its:

  	
   

  

 

B-12

 

Consent and Subordination

 

For
valuable consideration, the receipt and sufficiency of which are acknowledged,
the undersigned hereby agrees that any interest of any kind that it may have in
the real property and/or the lease described in the attached MontBleu Lease
Amendment (whether security interest, leasehold interest, real property right,
contract right or any other right) is subject to the terms of the Amendment.
The undersigned hereby consents to this Amendment and subordinates any such
interest to this Amendment. The signatory to this Consent and Subordination
represents and warrants that such signatory has the full power and authority to
sign this Consent and Subordination and to bind any entity on behalf of which the
signatory has signed this Consent and Subordination. Nothing in this Consent
and Subordination shall be deemed an acknowledgement by the fee owner of the
real property subject to the lease (or any of its owners, employees, agents or
representatives) of the existence or extent of any such interest in the real
property or the lease.

 

	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  
	
  Its:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  STATE
  OF

  	
   

  	
  )

  	
   

  
	
   

  	
   

  	
  )

  	
      SS.

  
	
  COUNTY
  OF

  	
   

  	
  )

  	
   

  
	
   

  	
   

  	
   

  
	
  On                                                              ,
  before me,                                          
                                                                                      ,

  
	
  Date

  	
  Name And Title Of Officer
  (e.g. “Jane Doe. Notary Public”)

  
	
  personally appeared

  	
                                                                                                                                                                                     ,

  
	
   

  	
  Name(s) of Signer(s)

  
							

proved
to me on the basis of satisfactory evidence to be the person(s) whose
name(s) is/are subscribed to the within instrument and acknowledged to me
that he/she/they executed the same in his/her/their authorized capacity(ies),
and that by his/her/their signature(s) on the instrument the person(s), or
the entity upon behalf of which the person(s) acted, executed the instrument.

 

I certify under PENALTY OF PERJURY under the laws of the
State of                        
that the foregoing paragraph is true and correct.

 

	
  WITNESS
  my hand and official seal.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  

 

B-13

 

Attachment: Legal Description of Real
Property

 

Real property located in Douglas County, Nevada, described as
follows:

 

A
parcel of land situated in Section 27, Township 1 3 North, Range 18 East,
M.D.B.&M. and more particularly described as follows:

 

Beginning
at a point where the Easterly
right-of-way line of U.S. Highway 50 intersects the present California Nevada
State Line; thence North 28°02’00” East, along said right-of-way line, a distance of 877.66 feet to
the Northeasterly corner of parcel conveyed to Barneys Club Inc. by deed
recorded October 3, 1960 in Book 7, Page 117, Douglas County Records,
the TRUE POINT OF BEGINNING:

 

Thence,
North 28°02’00” East,
along said right-of-way line, a distance of 960.81 feet;

 

Thence,
from a tangent which bears the last named course, along a circular curve to the right with a radius of 34.00
feet and a central angle of 90°01’2’3”, an arc length of 53.42 feet to a point on
the Southwesterly right-of-way line of the Stateline Loop Road;

 

Thence,
South 61°56’37” East, along
said right-of-way line of the Stateline Loop Road, a distance of 642.61 feet;

 

Thence, from a tangent which bears the last named
course, along a circular curve to the right with a radius of 800.00 feet
and a central angle of 19°15’02”, an arc length of 268.79 feet; thence South 28°01’28” West, a distance of
1116.49 feet; thence North 61°02’11” West, a distance of 69.95 feet to the Northeasterly property
line of parcel owned by Harrah’s; thence North 32°49’43” West, along said property owned by Harrah’s,
a distance of 342.G9 feet;

 

Thence
North 61°58’00” West, along the property boundaries of Harrah’s and Barney’s, a
distance of 570.86 feet to the TRUE POINT OF BEGINNING.

 

Said
parcel contains an area of approximately 22.21 acres.

 

B-14Exhibit 10.20(B)

 

MONTBLEU LEASE AMENDMENT NO. 2

 

THIS MONTBLEU LEASE AMENDMENT NO. 2 (this “Amended and Restated Amendment”) is made
this 12th day of June, 2009 (the “Effective Date”), by and
between the Edgewood Companies, a Nevada corporation formerly known as Park
Cattle Co., (“Park”), as
Landlord, and Columbia Properties Tahoe, LLC, a Nevada limited liability
company (“CPT”). Park, as
Landlord, and CPT, as Tenant, are sometimes referred to individually as a “Party” and
collectively as the “Parties”. Terms
not otherwise defined herein shall have the meanings ascribed to them in the
Original Lease (defined below).

 

W I T N E S S E T H

 

WHEREAS, Park, as Landlord, and Desert Palace, Inc., as
Tenant entered into that certain Amended and Restated Net Lease Agreement, dated
January 1, 2000 (the “Original Lease”), involving
the Douglas County, Nevada, real property described in the Original Lease.

 

WHEREAS, Desert Palace, Inc. assigned all of its
right, title, benefits, privileges, estate and interest in, to and under the
Original Lease to CPT pursuant to an Assignment and Assumption of Lease dated June
10, 2005.

 

WHEREAS, Park and CPT entered into that certain MontBleu
Lease Amendment effective April 2, 2008 (such amendment, before giving effect
to this Amended and Restated Amendment, the “Original Amendment”).

 

WHEREAS, on May 2, 2008, CPT, Tropicana Entertainment,
LLC, a Delaware limited liability company (“TropEnt”), and
certain of their affiliates filed voluntary petitions for relief under chapter
11 of title 11 of the United States Code in the United States Bankruptcy Court
for the District of Delaware.

 

WHEREAS, TropEnt, and certain of its affiliates filed that
certain First Amended Joint Plan of Reorganization (the “Plan”) of Tropicana
Entertainment, LLC, which as of the date hereof has been confirmed but has not
yet become effective.

 

WHEREAS, this Amended and Restated Amendment is made
pursuant to that certain Order Authorizing the Debtors to (A) Assume and
Assign Amended Leases for the Lake Tahoe Horizon Casino and (B) Assume
Amended Lease for the MontBleu Resort Casino & Spa Properties (the “Assumption Order”). The
effectiveness of this Amended and Restated Amendment is not conditioned on the
effectiveness of the Plan.

 

WHEREAS, Park and CPT have agreed to make certain
modifications to the Original Amendment.

 

NOW THEREFORE, in consideration of the mutual promises
contained herein and other good and valuable consideration, the receipt and
adequacy of which is hereby acknowledged, effective on the Effective Date, the
Parties hereto agree to amend and restate the Original Amendment in its
entirety to read as follows:

 

1

 

I.                                              The Parties agree that the Original Amendment is hereby deleted in its
entirety; and that from and after the Effective Date, the terms set forth in
the Original Lease and this Amended and Restated Amendment (collectively, the “Lease”) contain all of the lease terms affecting the Premises. The
Parties agree that a true, complete and accurate copy of the Original Lease is
attached hereto as Exhibit A.

 

II.                                     Section 1.2 of the Original Lease is
amended and restated in its entirety to read as follows:

 

The Original Term of this Lease shall commence at 12:01 a.m.
on January 1, 2000 (the “Commencement Date”), and shall end at 11:59 p.m. on
December 31, 2028 (the “Original Term”).

 

Notwithstanding the foregoing, from and after January 1, 2018,
Landlord may terminate this Lease by giving Tenant six (6) months written
notice of such termination (the “Early
Termination Date”), and
by paying Tenant Fifteen Million Dollars ($15,000,000.00) in cash on the Early
Termination Date (the “Buy-Out Right”). The provisions of Article XIV
of this Lease shall apply to the Early Termination Date. Landlord’s termination
right as described in this section shall continue from January 1, 2018 through
the remainder of the Original Term and through the Second Term (as defined in Article IV
of this Lease), if any. In the event that this Lease is assigned before January
1, 2018 and if Landlord fails to exercise its right of first refusal under Section 10.4
of this Lease (in a transaction where the Landlord would have the right to
exercise its right of first refusal), then the Landlord’s Buy-Out Right set
forth in this Section 1.2 shall terminate and be of no further
force or effect. Notwithstanding the foregoing, Landlord shall have no right to
exercise the Buy-Out Right so long as either Tropicana Entertainment, LLC, a
Delaware limited liability company (“Tropicana
Entertainment”) (for
the period prior to which the Plan becomes effective), or Tropicana
Entertainment, Inc., a Delaware corporation (for the period after which
the Plan becomes effective) (each such entity being referred to herein as “Tropicana”, as the case may be) owns and controls, directly or indirectly, through
one or more of its affiliates, at least seventy percent (70%) of the economic
and the voting interests of the entity that is the tenant under this Lease (the
“Threshold Interest”). If Tropicana ever does not own the
Threshold Interest, Landlord shall have the right to exercise the Buy-Out Right
as provided above. Not less than fifteen (15) business days after Landlord’s
written request, Tenant will provide Landlord a current organizational chart of
Tenant and all of Tenant’s parents and affiliates which would have a bearing on
determining whether Tropicana maintains the Threshold Interest, certified as
true and correct by an officer of Tropicana (or successor of Tropicana), showing
the ownership interests held by all entities depicted in

 

2

 

such chart. For the avoidance of doubt, direct or indirect
transfers of the ownership of Tropicana shall not under any circumstances
result in Landlord having the right to exercise the Buy-Out Right.

 

III.                            Article II
of the Original Lease is amended and restated in its entirety to read as
follows:

 

Section 2.1                                 The Tenant shall pay to the Landlord as rent for the Premises during the
original term of this Lease and any renewal terms (a) a fixed rent
computed as provided in Section 2.2 or in Section 2.3, as applicable,
plus (b) annual percentage rent as and to the extent provided in Section 2.4,
plus (c) all property and excise taxes and other impositions described in Article III.

 

Section 2.2                               Based upon the election made by the Landlord pursuant to Section 15.2(b) of
the Original Lease, the fixed rent for the first Lease Year in which the
assignment from Desert Palace, Inc. took place is $5,374,478.78. During
each subsequent Lease Year, the fixed rent will be increased annually by the
lower of five percent (5%) or the CPI Adjustment.

 

As used in this Section 2.2,
the “CPI Adjustment” shall mean a fraction, the numerator of which is the “Comparison
Index” (as hereinafter defined), and the denominator of which is the “Beginning
Index” (as hereinafter defined). For the purpose of this Section 2.2, the
following terms shall be defined as noted below:

 

(i)                           Index:     The “Index” for computing the increases
shall be the Consumer Price Index for “all items” in San Francisco (1984=100), published
by the United States Department of Labor, Bureau of Labor Statistics.

 

(ii)                        Beginning Index:     The “Beginning Index” shall
be defined as the Index published for the month ending December 31, 2004.

 

(iii)                               Comparison Index:     The “Comparison Index”
shall be defined as the Index published for December of the Preceding Lease
Year (as hereinafter defined).

 

In the event that the Bureau of
Labor Statistics shall change the cycle for the publication of the Consumer
Price Index so that no Index number is published for the month of December, then
the Index for the nearest month before the month of December shall be
substituted. If the manner in which the Consumer Price Index is determined by
the Bureau of Labor Statistics shall be substantially revised, an adjustment
shall be made in such revised index which would produce the results equivalent,
as nearly as possible, to those which would have been obtained if the Consumer
Price Index had not been so revised. If the 1984 average shall no longer be
used as an index of 100, such change shall constitute a substantial revision. If
the Consumer Price Index shall become unavailable to the public because
publication is discontinued, or

 

3

 

otherwise, a comparable index based upon changes in the
cost of living or purchasing power of the consumer dollar published by any
other governmental agency or, if no such index shall be available, then a
comparable index published by a major bank or other financial institution or by
a university or a recognized financial publication shall be used to calculate
the rental increases required by this Section.

 

If this Lease terminates at a
date which is not the end of a Lease Year, the fixed rent for the last Lease
Year will be the sum which bears the same proportion to the rent which would be
payable for a full year as the number of days in the last Lease Year bears to
365. For purposes of this Lease, (a) the term “Lease Year” means the twelve-month
period beginning on January 1, 2000 and each twelve-month period thereafter, and
(b) the term “Preceding Lease Year” means the Lease Year ending on the day
immediately prior to the first day of the Lease Year for which fixed rent is
being determined.

 

Section 2.3                                      Notwithstanding the above provisions of Section 2.2, so long as
Tropicana retains the Threshold Interest, as defined in Section 1.2 above,
in Tenant, the fixed rent from May 1, 2009 through December 31, 2009 (prorated
for the applicable portion of 2009) and for the 2010 and 2011 Lease Years, shall
be $4,000,000.00 per annum. Commencing with the Lease Year beginning on January
1, 2012 and for each Lease Year thereafter, the annual fixed rent Tenant shall
pay Landlord for each Lease Year shall equal the amount of the total fixed rent
payable by Tenant (excluding any offsets, credits or abatements) for the Lease
Year ending on December 31, 2011, multiplied by the CPI Adjustment (defined
below). In no event shall the fixed rent be reduced due to the CPI Adjustment. As
used in this Section 2.3, the “CPI Adjustment” shall mean a fraction, the
numerator of which is the “Comparison Index” (as hereinafter defined), and the
denominator of which is the “Beginning Index” (as hereinafter defined). For the
purpose of this Section 2.3, the following terms shall be defined as noted
below:

 

(i)                                     Index:      The “Index” for computing the increase
shall be the Consumer Price Index for “all items” in San Francisco (1984=100), published
by the United States Department of Labor, Bureau of Labor Statistics.

 

(ii)                                  Beginning Index:      The “Beginning Index” shall
be defined as the Index published for the month ending April 30, 2009.

 

(iii)                               Comparison Index:     The “Comparison Index”
shall be defined as the Index published for December of the Preceding Lease
Year (as hereinabove defined).

 

By way of example, (1) assuming
that the Index does not decrease, the fixed rent beginning January 1, 2012, would
be equal to $4,000,000.00 times a fraction the numerator of which is the

 

4

 

Index as of December 31, 2011, and the denominator of
which is the Index as of April 30, 2009, and (2) assuming the Index does
not increase, the fixed rent beginning January 1, 2012, would remain $4,000,000.00.

 

In the event that the Bureau of
Labor Statistics shall change the cycle for the publication of the Consumer
Price Index so that no Index number is published for the month of December, then
the Index for the nearest month before the month of December shall be
substituted. If the manner in which the Consumer Price Index is determined by
the Bureau of Labor Statistics shall be substantially revised, an adjustment
shall be made in such revised index which would produce the results equivalent,
as nearly as possible, to those which would have been obtained if the Consumer
Price Index had not been so revised. If the 1984 average shall no longer be
used as an index of 100, such change shall constitute a substantial revision. If
the Consumer Price Index shall become unavailable to the public because
publication is discontinued, or otherwise, a comparable index based upon
changes in the cost of living or purchasing power of the consumer dollar
published by any other governmental agency or, if no such index shall be
available, then a comparable index published by a major bank or other financial
institution or by a university or a recognized financial publication shall be
used to calculate the rental increases required by this Section.

 

Section 2.4                                      So long as Tropicana retains the Threshold Interest, the annual
percentage rent (a) from May 1, 2009 through December 31, 2009 and
for the 2010 and 2011 Lease Years shall be equal to ten percent (10%) of the
amount by which Gross Revenues, as defined in Section 2.10 below, exceeds $50,000,000.00, and (b) for each Lease Year after
the 2011 Lease Year, the annual percentage rent shall be equal to ten percent (10%)
of the amount by which Gross Revenues exceeds the Breakpoint, as defined in Section 2.5 below, for that Lease Year.

 

Section 2.5                                      Within forty-five (45) days after the close of each calendar quarter, the Landlord shall be furnished with a statement
certified by the Tenant’s Controller or Treasurer (or an officer holding a
similar title) setting forth the amount of Gross Revenues for the immediately
preceding calendar quarter. For each Lease Year beginning January 1, 2009,
January 1, 2010 and January 1, 2011, when the total Gross Revenues for a Lease
Year has exceeded $50,000,000.00, accompanying the quarterly statement shall be
payment of percentage rent equal to ten percent (10%) of the total Gross
Revenues for the entire Lease Year in excess of $50,000,000.00, less any
percentage rent paid in any previous calendar quarter with respect to that
Lease Year. For each Lease Year beginning January 1, 2012 and for each Lease
Year thereafter, when the total Gross Revenues for a Lease Year exceeds the
Breakpoint, which is defined as the quotient obtained by dividing the fixed
rent for that Lease Year determined pursuant to Section 2.3 by ten percent
expressed as a decimal, or one-tenth (.10), accompanying each such quarterly
statement shall be

 

5

 

payment
of percentage rent in an amount equal to ten percent (10%) of the total Gross
Revenues for the entire Lease Year in excess of the Breakpoint, less any
percentage rent paid in a previous calendar quarter with respect to that Lease
Year.

 

Section 2.6                                      Within sixty (60) days after
the end of each Lease Year, the Landlord shall be furnished with a statement
certified by the Tenant’s Controller or Treasurer (or an officer holding a
similar title) of the amount of the Gross Revenues so reported for the
Preceding Lease Year, together with an appropriate accounting setting forth the
amount of percentage rent to which the Landlord was entitled for that Lease
Year, the amounts paid to the Landlord on account thereof, and the resulting
balance due the Landlord or the amount of overpayment which Landlord has
received in the event payments on account exceeded the percentage rent payable
for the Preceding Lease Year. Landlord will be paid any such balance due at the
time of delivery of said certified statement or if there has been such an
overpayment, the amount of said overpayment shall be credited against the fixed
rent obligations for the following Lease Year until such credit has been
reduced to zero. Such statement and accounting shall be supplemented not later
than one hundred twenty days after the end of each Lease Year with a statement
of Gross Revenues for the Lease Year just ended, reported upon by independent
certified public accountants, who may be the auditors for the Tenant or
affiliates of the Tenant, and a computation approved in writing by those
independent certified public accountants showing the percentage rent due
because of Gross Revenues for the Lease Year just ended, along with the payment
of any indicated balance due. Tenant shall also provide Landlord not later than
one hundred twenty (120) days after the end of each calendar year with Tenant’s
audited GAAP financial statement (which may be in the form of a supporting
consolidating schedule as part of consolidated audited financial statement for
Tropicana or other parent of Tenant) and not later than September 15 of each
year with Tenant’s standard financial statement required to be filed with the
Nevada gaming authorities pursuant to Nevada Gaming Regulation 6.070.

 

Section 2.7                                      In order to permit
computation of the percentage rent to be paid under Section 2.4, the Tenant
shall keep all accounting records required by applicable law and such other
records as are sufficient to furnish all of the information necessary to
compute Gross Revenues.

 

Section 2.8                                      If the Landlord reasonably
believes that there are grounds to question the percentage rent reported by
Tenant as being due, the Landlord shall have the right, but only once with
respect to each Lease Year of the Tenant and not later than one (1) year
after the end thereof, to cause an audit of the business of the Tenant to be
conducted at the Premises by a certified public accountant of the Landlord’s
selection, who is qualified, reputable and not engaged on a contingency fee
basis, to verify the amount set forth in the Tenant’s statement of Gross

 

6

 

Revenues for such Lease Year. Such audit shall be
conducted so as to not unreasonably interfere with Tenant’s operations at the
Premises. If a statement of Gross Revenues made by the Tenant shall be found to
be in error such that the Tenant has underpaid annual percentage rent for the
Lease Year of the Tenant audited by an amount exceeding five percent (5%) of
the percentage for such Lease Year of the Tenant, the Tenant shall immediately
pay within five (5) working days the additional amount of percentage rent
owed, plus the cost of the audit. In all other events, the cost of the audit
shall be paid solely by the Landlord. The Tenant agrees to keep and maintain, at
its offices, intact for a period of one (1) year after the end of each
Lease Year of the Tenant all of the records, books, accounts and other data
which are regularly kept by the Tenant in the ordinary course of its business
to establish the Tenant’s Gross Revenues.

 

Section 2.9                                      During the term hereof, the Tenant shall cause to be placed, and remain
on file with the Nevada State Gaming Control Board and the Nevada Gaming
Commission or any successor agency, a continuing written consent and
authorization from the licensee at Mont Bleu Resort by which a representative
of the Landlord may, during business hours, examine and copy all reports and
return showing the gross winnings or gross revenue from gaming licensed and
conducted at the Premises. The requirements of this subparagraph are a
condition to this Lease. Such requirements must be met irrespective of who may
be the licensee at the Premises.

 

Section 2.10                                For purposes of this Lease, the term “Gross Revenues” means
all amounts received, whether by cash or credit, from the operation of all of
the facilities and businesses on the Premises and the Enterprise now known as
MontBleu, including, but not limited to, rooms, bars, restaurants, concessions
and gaming, and shall be measured by Lease Year. Gross Revenues shall expressly
exclude: (i) proceeds from the sale, exchange or voluntary or involuntary
disposition of Owner’s property which had not been held for sale, (ii) such
amounts as may be received and held by Owner as security or in other special
deposits (iii) applicable excise, sales, occupancy and use taxes, or
similar government taxes, duties, levies or charges collected directly from
patrons or guests, or as a part of the sales price of any goods, services, or
displays, including gross receipts, admission, cabaret, or similar or
equivalent taxes; (iv) receipts from awards or sales in connection with
any condemnation, from other transfers in lieu of and under the threat of any
condemnation, and other receipts in connection with any condemnation; (v) proceeds
of any insurance, including the proceeds of any business interruption and/or
contingent business interruption insurance; (vi) discounts (including
rebates, credits or charge or credit card commissions); (vii) gratuities
and service charges collected for payment to employees; (viii) any credits
or refunds made to customers, guests or patrons; (ix)interest income; and
(x) any reserve for and/or uncollectible debts as determined in accordance
with generally accepted accounting principles consistently applied.

 

7

 

Section 2.11.   If
Tropicana no longer retains the Threshold Interest, as defined in Section 1.2
above, the rent for each Lease Year provided for in Section 2.1 (a) and
Section 2.1 (b) will, at the election of the Landlord (to be
exercised within one hundred twenty (120) days after receipt of the Notice of
Offer (as defined in Section 10.1) provided by Tenant with respect
to the offer which, if consummated, would result in Tropicana no longer
retaining the Threshold Interest) (the “Election
Period”)), either be
(a) the fixed rent calculated as provided in Section 2.2, or
(b) the fixed and percentage rent calculated as provided in Sections 2.3
and 2.4. If Landlord does not notify Tenant of its election before the end of
the Election Period, Landlord shall be deemed to have elected the rent under
subclause (a). Until Landlord has made, or is deemed to have made, its election,
Tenant shall continue to pay the rent then in effect.

 

IV.                                 The following sentence is added to the end of Section 5.1 of
the Original Lease:

 

Notwithstanding anything in this Lease to the contrary, if
Tenant is not in default under Section 23.7 below and the
non-restricted gaming license for the Premises will not be jeopardized, then
Tenant shall have the right, subject to Landlord’s prior written consent, which
consent shall not be unreasonably withheld, conditioned or delayed, to
temporarily close portions of the Premises to the public in order to perform
any renovation, remodeling, maintenance, capital improvements, repair or other
construction-related matters required of Tenant under this Lease. Landlord’s
consent to any such closure shall not be deemed a representation by Landlord
that such closure will not result in a default of Section 23.7.

 

V.                                     The following sentence is added to the end Section 6.1 of the
Original Lease:

 

The Landlord and Tenant acknowledge that as of the
Effective Date the Premises is not currently in a first class condition and
repair, but that Tenant shall be obligated to ensure the Premises is in first
class condition and repair no later than December 31, 2015. Prior to December 31,
2015, Landlord hereby agrees to not give Tenant a notice of default (or
otherwise declare a default) under this Lease (including under Section 5.1
or this Section 6.1) due to the Premises not being in first class
condition and repair, provided that Tenant (i) is otherwise performing all
of the maintenance and repair obligations required of Tenant necessary to keep
the Premises in good condition and repair and otherwise complies with such
other obligations to repair and maintain the Premises under this Section 6.1,
and (ii) corrects the Deficiencies (as defined below) in accordance with
the time period set forth in Section 6.6  

 

8

 

below
(clauses (i) and (ii) are collectively referred to as the “Interim Maintenance Obligations”).

 

VI.                                 Article VI
of the Original Lease is amended to add the following four new sections:

 

Section 6.3. Starting in
2009, except as set forth below, Tenant must expend at least five percent (5%) of
annual Gross Revenues (as defined in Section 2.10) (the “CapEx Requirement”) on real property
capital expenditures at the Premises, including, without limitation, the
replacement and upgrade of electrical, plumbing, mechanical, fire safety, and
other building systems that have reached or are imminently close to reaching
the end of their useful lives, and the renovation of guest rooms and other
facilities, so as to maintain the Premises (including the front of the house, the
back of the house, and the parking areas) at all times in a condition that is
both first class and competitive with other hotel-casinos at Stateline, Nevada,
and also in compliance with all laws and regulations of all governmental
authorities having jurisdiction over the Premises; provided, however, that
(a) so long as Tenant has performed the Interim Maintenance Obligations as
provided in Section 6.1, Tenant shall not be required to satisfy the CapEx Requirement for any
Lease Year ending prior to January 1, 2012; and (b) for each Lease Year
between January 1, 2012 and January 1, 2016, Tenant shall only be required to
spend three and 75/100ths percent (3.75%) of the CapEx Requirement on real
property capital expenditures for the Premises, with the remainder 1.25% being
spent on Other Property (as defined below); and (c) for each Lease Year
after the 2015 Lease Year, no less than fifty percent (50%) of the CapEx
Requirement shall be used on real property capital expenditures at the Premises
and up to fifty percent (50%) of the CapEx Requirement may be spent on gaming
systems, equipment and other furniture, trade fixtures and equipment used at
the Premises (even if not capital in nature) (collectively “Other Property”), and if Tenant
spends more than fifty percent (50%) of the CapEx Requirement in any Lease Year
after the 2015 Lease Year on Other Property, the amount spent in excess of such
50% threshold for Other Property may be carried forward and applied towards
Tenant’s CapEx Requirement with respect to Other Property in subsequent Lease
Years, provided the application of such carried forward excess does not exceed
50% of the CapEx Requirement in any Lease Year.

 

The
CapEx Requirement described in this Section 6.3 shall be a
minimum, not a maximum, and the expenditure of the minimum amount shall not
create any presumption of compliance with Section 6.1 or other
applicable provisions of this Lease. Expenditures made for furniture, furnishings
and equipment that

 

9

 

do not become a part of the real property under Nevada law,
and for gaming equipment, shall not be considered real property capital
expenditures.

 

Section 6.4. In
order to assist in determining compliance with the requirements of Section 6.3,
Tenant shall separately keep for the Enterprise accounting records sufficient
to furnish all of the information necessary to compute Gross Revenues and to
determine the amount and nature of the real property capital and other
expenditures made. Such accounting records shall include detailed information
concerning the nature of each expenditure, the date of the expenditure, and to
whom payment was made. All accounting records required to be kept shall be
available for inspection and copying by Landlord or its authorized agents, attorneys
or accountants, at any reasonable time, and shall be made available at the
Premises or at such other location as Landlord and Tenant may mutually agree, and
Tenant shall allow and facilitate the duplication of such documents by Landlord.
Not less than one hundred twenty (120) days after the end of each Lease Year, the
Tenant will provide Landlord with a statement of the Gross Revenues of the
Enterprise for the year, and a statement of amounts spent pursuant to the
requirements of Section 6.3, reported upon and certified by
independent certified public accountants, who may be the auditors for the
Tenant, and a computation approved in writing by those independent certified
public accountants, showing that the provisions of Section 6.3 have
been satisfied for the prior Lease Year. Landlord may, upon notice given to
Tenant, object to such statement and give notice to Tenant under Section 11.1
(b) that Tenant has failed to comply with the requirements of Section 6.3.

 

Section 6.5. Tenant
shall provide to Landlord on an ongoing basis, and in any event within
forty-five (45) days of a written request by Landlord: any and all test and/or
inspection reports obtained or received by Tenant or its affiliates, agents or
attorneys with respect to the condition of the Premises, including, without
limitation, any tests for the presence of asbestos or mold, and any tests
regarding environmental conditions at the Premises. All such documents, whether
in paper or electronic form, shall be produced at the Premises or at such other
location as Landlord and Tenant may mutually agree, and Tenant shall allow and
facilitate the duplication of such documents by Landlord.

 

Section 6.6. Tenant
agrees to correct or cause to be corrected the items set forth in Schedule 1 attached hereto (the “Deficiencies”) by December 31, 2011. From and after the Effective Date, Tenant
shall, subject to Section 26.12 of the Lease, immediately

 

10

 

commence and diligently pursue, with a reasonably
consistent and regular expenditure of funds, the correction of the Deficiencies.
Tenant shall promptly provide Landlord with an action plan and such other
documentation that shows that the work is proceeding in the manner required
under this Lease. Tenant must update the action plan and provide Landlord with
at least one detailed progress report per quarter on Tenant’s efforts to cure
the Deficiencies. Tenant must permit Landlord and its representatives to
observe the efforts to cure the Deficiencies at all reasonable times. Tenant
shall provide Landlord with advance notice of at least one week prior to
undertaking substantial work, and the notice shall include a description of the
work to be performed, so that Landlord has the opportunity to observe the work.
Nothing in this Section 6.6 shall diminish Tenant’s obligations
under the Lease with respect to the condition and maintenance of the Premises.

 

VII.                             Section 7.3 of the Original Lease is amended in its entirety to read as follows:

 

(a)   Subject to the provisions of Article XXI
concerning confidentiality, at least thirty (30) days prior to the beginning of
each Lease Year, Tenant shall create and provide a detailed annual budget to
Landlord that sets forth, on an itemized basis, Tenant’s plans for real
property capital expenditures on the Premises and expenditures on furniture, furnishings
and equipment for the Premises. The budget for the 2009 calendar year shall be
provided to Landlord on or before September 30, 2009.

 

(b)  Commencing with the quarter ending March
31, 2009, within thirty (30) days after the end of each calendar quarter, Tenant
shall provide a detailed report to Landlord that compares, on an itemized basis,
actual expenses for such real property capital expenditures and expenditures on
furniture, furnishings and equipment against budgeted expenses, and which
provides detailed explanations for any substantial deviation from the original
budget.

 

(c)  In addition, Tenant shall gather and
provide to Landlord, on an ongoing basis, and in any event within forty-five (45)
days of Landlord’s written request, any and all documents (both paper and
electronic) in its possession, custody or control relating to any past, present
or future renovations, alterations, repairs and/or improvements to the Premises,
including without limitation, plans, drawings, requests for proposals, estimates,
contracts, change orders, spreadsheets, accounting reports, correspondence, progress
reports, and permits. Tenant’s obligation to gather and provide records shall
encompass any records in the possession of its affiliates and agents. All such
documents shall be produced at the

 

11

 

 

Premises or at such other location as Landlord and
Tenant may mutually agree, and Tenant shall allow and facilitate the
duplication of such documents by Landlord.

 

VIII.          Section 10.1
of the Original Lease is amended by lengthening the period of the Matching
Option from 60 days to 120 days.

 

IX.           Section 10.2
of the Original Lease is amended by lengthening the period in which the closing
must occur from 120 days to 180 days after the notice of exercise of a Matching
Option is given.

 

X.            Article X
of the Original Lease is amended to add the following new sections:

 

Section 10.4. The
Landlord’s right of first refusal set forth in Section 10.1 above
is intended to apply to, and does apply to, (a) any offer to purchase the
Tenant’s rights under the Lease (including such an offer in connection with a
larger transaction to purchase the Enterprise being operated by Tenant on the
Premises), or (b) any direct or indirect transfer of the Tenant. Clause
(a) and clause (b) shall not apply to (i) any such offer
or transfer where Tropicana retains the Threshold Interest, (ii) the
foreclosure of a Leasehold Mortgage made in compliance with Article XIX, or
(iii) the first assignment of this Lease by a Leasehold Mortgagee who has
foreclosed upon its Leasehold Mortgage made in compliance with Article XIX
(the exceptions set forth in clauses (i) through (iii) are referred
to collectively as the “Permitted
Transfers”).  If a
transfer to an affiliated person or entity is later followed by a transfer of
some or all of the ownership interest in such affiliated person or entity to an
unaffiliated person or entity, then such ownership interest transfer shall be
considered a transfer under clause (b) to the extent such unaffiliated
person or entity holds a direct or indirect voting or economic interest in
Tenant. In addition, Landlord’s right of first refusal set forth in Section 10.1
above will apply even if the offer to purchase Tenant’s rights under the Lease
and the Enterprise is part of a larger transaction involving other properties of
Tenant or any affiliate of Tenant. In any case where the Landlord’s right of
first refusal applies in connection with such a larger transaction, the
purchase price for the Tenant’s rights under the Lease and the Enterprise shall
be determined by one or more qualified person selected by Landlord in
Landlord’s sole and absolute discretion, which purchase price will be
determined within the time allowed for exercising the Matching Option. In any
case where Landlord exercises its right of first refusal, Landlord shall
receive a credit against the purchase price equal to Fifteen Million Dollars ($15,000,000)
plus the assignment fee required by Section 15.1 of this Lease. In
connection with a transfer of the Tenant, the Enterprise or the Tenant’s
interest in this Lease, as applicable, which is neither a

 

12

 

Permitted Transfer nor a transfer of 100% of the Tenant, the
Enterprise or the Tenant’s interest in this Lease, as applicable, then the
Landlord’s purchase right under this section shall apply to all of the Tenant, the
Enterprises or the Tenant’s interest in this Lease, as applicable; and the
purchase price for such entire interest shall be equal to the purchase price
for the interest being transferred multiplied by a fraction the numerator of
which is the number one (1) and the denominator of which is the percentage
interest (express as decimal) being transferred. By way of example, if a 40% interest
in the Tenant is being transferred for a purchase price of $100,000, then the
Landlord’s purchase price for 100% of the Tenant would be $250,000 ($100,000/.40).
For the avoidance of doubt, direct or indirect transfers of Tropicana shall not
under any circumstances be subject to (i) Article XV, (ii) Landlord’s
right of first refusal or (iii) Landlord having the right to exercise the
Buy-Out Right.

 

Section 10.5. If
Tenant, or any owner or affiliate of Tenant, decides to make Tenant’s rights
under this Lease available for sale, then Tenant shall provide written notice
to Landlord within five (5) business days of making that decision.

 

XI.           Section 11.1(c) of
the Original Lease is hereby amended and restated in its entirety as follows:

 

After the effectiveness of the Plan, the Tenant or any
Guarantor files or consents to the filing of any petition seeking debtor’s
relief or a petition seeking relief is filed against Tenant and not dismissed
within sixty (60) days.

 

XII.         Article XI
of the Original Lease is amended to add the following new sub-sections:

 

Section 11.1(d). Any
Guarantor shall revoke or disavow the Guaranty, any Guarantor shall dissolve or
terminate, or an event of default shall occur by any Guarantor under the
Guaranty.

 

Section 11.1(e). The
failure by Tenant to provide a replacement Guarantor as provided in Article XXX
below.

 

XIII.          Section 11.2(a) of
the Original Lease is amended by deleting the phrase “any reasonable costs, including
but not limited to reasonable attorneys’ fees, incurred by the Landlord in
recovering possession of the Premises” and replacing that phrase with the
following phrase and including the following additional sentence at the end of
such sub section:

 

“any other costs necessary to fully compensate Landlord
for direct and indirect costs, one hundred percent (100%) of the actual attorneys’
fees, costs and expenses (including without limitation the fees of expert
consultants and witnesses) incurred by the

 

13

 

Landlord in recovering possession of the Premises. Tenant
agrees that this provision is not an unenforceable penalty.”

 

XIV.          Section 15.1
of the Original Lease is amended, by revising the first sentence of that
section to read as follows.

 

Subject to the provisions of Article X, Tenant may
assign or transfer this Lease, or sublease the Premises or any material segment
thereof, by paying Landlord an assignment fee equal to the amount of fixed rent
for the Lease Year in which the assignment takes place, plus the sum of Fifteen
Million Dollars ($15,000,000); provided, however, that no such assignment fee
shall be payable in connection with any Permitted Transfer (as defined in Section 10.4).

 

During the term of this Lease, the Tenant shall be the
licensed operator of the Premises and shall operate the Enterprise on the
Premises.

 

XV.         Sections
15.2, 15.3 and 15.4 of the Original Lease are hereby deleted in their
entirety.

 

XVI.        Section 15.5
of the Original Lease is amended and restated in its entirety to read as
follows:

 

The provisions of this Article XV shall apply to any
direct or indirect transfers of this Lease, including, without limitation, the
sale of interests in any entity owning a direct or indirect interest in Tenant;
provided; however, that the
payment of the assignment fee referenced in Section 15.1 shall not
apply to any Permitted Transfer (as defined in Section 10.4).

 

XVII.       Section 19.1
of the Original Lease is amended and restated in its entirety to read as
follows:

 

The Tenant may at any time or times mortgage or otherwise
encumber its rights as Tenant under this Lease (in each case, a “Leasehold Mortgage”) for purposes of
alterations to the Premises as defined in Article VII and/or in connection
with (i) any debtor-in-possession financing arranged by Tropicana, if such
debtor-in-possession financing is in place as of the Effective Date and is not
satisfied through Tropicana’s plan of reorganization, (ii) any exit
financing for Tropicana’s emergence from bankruptcy, (iii) any acquisition
financing by any assignee or purchaser of Tenant, and (iv) any
refinancings of any of the foregoing; provided, however, (A) that all such
Leasehold Mortgages are made in compliance with this Article XIX,
(B) the Leasehold Mortgage relating to the financings described in
(iii) and (iv) above will only be permitted if such Leasehold
Mortgage is from an

 

14

 

institutional lender with the ability (financial and
otherwise) to perform the Tenant’s obligations under this Lease, and (C) the
Leasehold Mortgage (s) arising in connection with the financings described
in clauses (i) through (iv) above shall secure no more than the fair
market value of Tenant’s leasehold interest in the Premises (determined at the
time the Leasehold Mortgage is recorded against the Premises) or, if the
Leasehold Mortgage is a blanket mortgage, such Leasehold Mortgage shall provide
that it will be released as a lien against the Lease and Enterprise upon the
payment of the fair market value of Tenant’s leasehold interest in the Premises
(determined at the time the Leasehold Mortgage is recorded against the Premises)
stated in such Leasehold Mortgage. Each Leasehold Mortgage (excluding any
Leasehold Mortgage for the debt described in clauses (i) and (ii) above)
shall contain a provision granting Landlord the right and option, exercisable
by written notice within the thirty (30) day period following the recordation
of a notice of default, to purchase the Leasehold Mortgagee’s (as defined below)
position for cash in an amount equal to the entire balance of the principal and
interest due and owing by Tenant (or if a blanket Leasehold Mortgage, the
amount allocated therein to the Premises) and providing further that Landlord
shall have ninety (90) days after the recordation of a notice of default in
which to complete said purchase. Notwithstanding anything to the contrary set
forth in this Article XIX, Landlord shall not be required to subordinate
its fee interest in the Premises to any Leasehold Mortgage. Any leasehold
mortgagee of any leasehold mortgage in existence as of the Effective Date shall
have no right to avail itself of the provisions of this Article XIX until
it has executed the Consent attached to the Amended and Restated Amendment and
its leasehold mortgage is in compliance with the terms of Article XIX.

 

XVIII.     Section 24.1
is hereby deleted in its entirety and Section 24.2 is hereby
amended and restated in its entirety as follows:

 

The Tenant will have the right to feature the Golf Course
in Stateline, Nevada owned by the Landlord in advertising, promotions, and
promotional materials relating to the Enterprise. In no event shall Tenant
advertise that guests at the Enterprise shall have the privilege of playing on
the Golf Course.

 

XIX.        Section 26.9
of the Original Lease is hereby amended in its entirety to read as follows:

 

(a)   The Landlord may, after providing
Tenant reasonable prior written notice, enter upon the Premises to inspect and
photograph them. The right to inspect includes without limitation the right to
test. The testing may include sample collection, diagnostic testing, intrusive
testing, and/or destructive testing.

 

15

 

(b)   The Landlord may, after providing Tenant
reasonable prior notice, enter upon the Premises for purposes of making any
repairs which may be essential for the protection and maintenance of the
Premises which the Tenant fails to make after reasonable notice by Landlord and
an opportunity for Tenant to make such repairs. The cost of any such repairs
will be payable immediately upon demand by the Tenant to the Landlord as
additional rent under this Lease.

 

(c)   In exercising its right under this Section 26.9,
Landlord agrees that its entry onto the Premises shall not unreasonably
interfere with Tenant’s operations thereon. Landlord agrees that Tenant shall
have the right to have a representative of Tenant accompany Landlord and its
representatives while on the Premises.

 

XX.           There
is hereby added to the Original Lease a new Section 26.15 to read in full as follows:

 

Section 26.15.        If a party is the prevailing
party in any action against the other to enforce or interpret this Lease, the
prevailing party shall be entitled to the award of 100 percent of its actual
attorneys’ fees, costs and expenses (including without limitation the fees of
expert consultants and witnesses), in addition to any other remedy entered by
the Court.

 

XXI.         There is
hereby added to the Original Lease a new Section 26.17 to read in full as follows:

 

Section 26.17.        Tenant covenants and agrees (for
itself and on behalf of its affiliates) not to take any action, directly or
indirectly, that challenges, opposes or in any interferes with the entitlement
of the premises on which is located the hotel-casino currently known as the
Horizon Casino Resort to the benefits and protections afforded structures
housing gaming under a nonrestricted license by the provisions of Article VI
of the Tahoe Regional Planning Compact.

 

XXII.        There is
hereby added to the Original Lease a new article, Article XXIX, to read in
full as follows:

 

Tenant covenants to work cooperatively with Landlord with
respect to performance of Tenant’s obligations under the terms of the Lease, and
to ensure an orderly termination of the Lease when such termination occurs. Tenant
agrees that Landlord may, after providing Tenant reasonable prior written
notice, have an owner’s representative on the Premises at reasonable times, and
that the Landlord and its representatives will, after providing Tenant
reasonable prior written notice, have access at reasonable times to the
Premises and all buildings and improvements located thereon, and to all books
and records related thereto (including without

 

16

 

limitation operating reports), in order to monitor and
ensure Tenant’s compliance with the terms and conditions of the Lease. Tenant
shall allow and facilitate the duplication of such books and records by
Landlord and its representatives. Landlord and its representatives will not
have any responsibility for, nor incur any liability with respect to, Tenant’s
operations. Tenant also agrees to cooperate, at Landlord’s sole cost and
expense, with any of Landlord’s efforts relating to permitting, land use, entitlements
and related matters on the Premises, and in connection therewith, will execute
(within ten (10) business days of request) such documents as may be
reasonably necessary to assist Landlord with such efforts.

 

XXIII.       There is
hereby added to the Original Lease a new article, Article XXX, to read in
full as follows:

 

On the effective date of the Plan, New Tropicana OpCo, a
Delaware corporation (“Guarantor”), shall
execute and deliver to Landlord a Lease Guaranty (the “Guaranty”) in the form attached
hereto as Exhibit B, guaranteeing the performance of Tenant’s
obligations under this Lease. Upon any assignment of this Lease as provided in Article XV,
Tenant shall cause Guarantor, concurrently with such assignment, to
unconditionally reaffirm all of its obligations under this Lease on a form of
reaffirmation reasonably approved by Landlord.

 

The dissolution, termination of existence, or other
material event causing or resulting in a material adverse effect or change with
respect to the Guarantor shall result in a default under this Lease unless
Tenant cures such default by providing a substitute guarantor (who shall
execute a new Guaranty) within thirty (30) days after the event causing such
default. Such substitute guarantor shall have sufficient financial resources in
the reasonable judgment of Landlord to perform its obligations under the Guaranty.
Not less than fifteen (15) business days after Landlord’s written request, Tenant
shall provide (or cause to be provided) to Landlord the most recent financial
statement of Guarantor, upon which the chief financial officer (or an officer
holding a similar title) shall certify that the financial statement is true and
correct.

 

Landlord agrees that if (a) Guarantor, no longer owns,
directly or indirectly, the Threshold Interest (substituting Guarantor for
Tropicana in the definition of Threshold Interest) and (b) a new Guaranty
has been executed by a new guarantor who Landlord reasonably believes has
sufficient financial resources to perform its obligations under the Guaranty (collectively,
the “Release Conditions”), then
Guarantor may request from Landlord in

 

17

 

writing a release of all obligations of Guarantor under
the Guaranty arising from facts and occurrences occurring after the
satisfaction of the Release Conditions; Landlord shall grant such release provided
Landlord is satisfied that the Release Conditions have been met. In no event
shall any guarantor be released from its obligations under any guaranty except
as expressly provided in this Section.

 

XXIV. There is hereby added to the Original Lease a new
article, Article XXXI, to read in full as follows:

 

Section 31(a). Upon
the termination or expiration of this Lease, Tenant shall unconditionally
transfer to Landlord, at no charge and free and clear of all liens and
interests, (a) the trademark “MontBleu” and (b) any other trademarks,
service marks, trade names, and domain names owned by Tenant that incorporate
the “MontBleu” name; provided, however, that Tenant shall retain the “Tropicana”
trademark and all other intellectual property rights (including without
limitation domain names) that utilize or relate to the “Tropicana” name and any
other names, trademarks, or other intellectual property rights that Guarantor
utilizes in or for the property during the term of this Lease. The transfer
provided in this paragraph shall be made pursuant to an agreement or agreements
to be reasonably approved and negotiated in good faith by Landlord and Tenant. Tenant
agrees to execute such documents as may be reasonably required to carry out the
terms and provisions of this Section.

 

Section 31(b). Upon
the termination or expiration of this Lease, Tenant shall grant to Landlord, at
no charge, a limited license to use, in the same manner as used by Tenant at
the time of termination or expiration of this Lease and solely in connection
with the Premises property, the other trademarks used by Tenant in marketing
the Premises (excluding the MontBleu trademark) to the extent Tenant may grant
a license in such trademarks and such trademarks are used by Tenant in
connection with the Premises property at the time of termination or expiration
of this Lease, for the twelve (12) month period following the termination or
expiration of this Lease. Such license shall be subject to customary license
terms, including, without limitation, terms regarding quality control and brand
standards. The use right provided in this paragraph shall be made pursuant to
an agreement or agreements to be reasonably approved and negotiated in good
faith by Landlord and Tenant. Tenant agrees to execute such documents as may be
reasonably required to carry out the terms and provisions of this Section. Except
for the limited license contemplated herein, Landlord acknowledges that it
shall have no

 

18

 

additional right to the intellectual property to be
licensed to Landlord pursuant to the terms of this Section.

 

Section 31(c). The
provisions of this Article shall survive the termination and expiration of
the Lease.

 

In the case of any inconsistency between the provisions of
the Original Lease and this Amended and Restated Amendment, the provisions of
this Amended and Restated Amendment shall govern and control.

 

Except as expressly modified herein, the Original Lease
shall remain in full force and effect and the Parties shall be bound by all the
terms and conditions thereof and hereof.

 

This Amended and Restated Amendment may be entered into in
more than one counterpart, each of which shall be deemed an original when
executed, and which together shall constitute but one and the same Amended and
Restated Amendment. Each Party may rely on facsimile and PDF signature pages as
if such facsimile and PDF pages were originals.

 

SIGNATURES ON FOLLOWING PAGE

 

19

 

Landlord and Tenant have duly executed this Amended and
Restatement Amendment as of the Effective Date.

 

 

	
  LANDLORD:

  	
   

  	
  TENANT:

  
	
   

  	
   

  	
   

  
	
  Edgewood Companies, a Nevada corporation

  	
   

  	
  Columbia Properties Tahoe, LLC,

  
	
   

  	
   

  	
  a Nevada limited liability company

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Steve Johnson

  	
   

  	
  By:

  	
  /s/ Scott Butera

  
	
   

  	
   

  	
   

  	
   

  	
  Scott Butera

  
	
  Name:

  	
  Steve Johnson

  	
   

  	
   

  	
  President and Chief Executive Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Its:

  	
  Chairman

  	
   

  	
   

  	
   

  

 

20

 

EXHIBIT A

 

COPY OF ORIGINAL LEASE

 

21

 

 

EXHIBIT B

 

FORM OF GUARANTY

 

22

 

GUARANTY

 

This Guaranty is made effective as of                                     ,
2009, by NEW TROPICANA OPCO, INC., a Delaware corporation (“Guarantor”),  in favor of EDGEWOOD COMPANIES, a
Nevada corporation formerly known as Park Cattle Co. (“Park Cattle”).

 

RECITALS

 

A.        Park Cattle, as Landlord,
and Columbia Properties Tahoe, LLC (“CPT”),  as
assignee of Desert Palace, Inc., as Tenant, are parties to that certain
Amended and Restated Net Lease Agreement (the “2000
Lease”), dated January 1,
2000, involving the Douglas County, Nevada, real property described in the
attachment thereto, as amended by that certain MontBleu Lease Amendment No. 2
dated as of June 12, 2009 (together with the 2000 Lease, the “Lease”).

 

B.         On May 2, 2008, CPT and
Tropicana Entertainment, LLC, a Delaware limited liability company and certain
other affiliates filed voluntary petitions for relief under Chapter 11 of Title
11 of the United States Code (the “Bankruptcy
Proceedings”)  in the United States Bankruptcy
Court for the District of Delaware (the “Bankruptcy
Court”). CPT and
certain of its affiliates filed that certain First Amended Joint Plan of
Reorganization of Tropicana Entertainment, LLC (the “Plan”) with
the Bankruptcy Court which has, as of the date hereof, become effective.

 

C.         Park Cattle has required
Guarantor, the sole owner of CPT, to provide this Guaranty upon the
effectiveness of the Plan.

 

GUARANTY

 

NOW,
THEREFORE, for good and valuable consideration, the sufficiency of which is
acknowledged, Guarantor hereby agrees, covenants and warrants as follows:

 

1.           Guaranty. Guarantor hereby
unconditionally and irrevocably guarantees to Park Cattle, and its successors,
endorsees, transferees and assigns, the full and prompt payment and performance
of all indebtedness, liabilities and obligations under the Lease. The terms “indebtedness,” “liabilities” and “obligations” are used herein in their most
comprehensive sense and include any and all advances, debts, rent payment
obligations, or other obligations and liabilities, now existing or hereafter
arising, whether voluntary or involuntary and whether due or not due, absolute
or contingent, liquidated or unliquidated, determined or undetermined, and
whether recovery upon such indebtedness, liabilities and obligations may be or
hereafter become unenforceable or shall be an allowed or disallowed claim under
the Bankruptcy Code or other applicable law. The foregoing indebtedness,
liabilities and other obligations of CPT and its successors and assigns
(collectively, the “Obligors”), and all other indebtedness,
liabilities and obligations to be paid by Guarantor in connection with this
Guaranty (including any and all amounts due under Section 13 hereof), shall
hereinafter be collectively referred to as the “Guaranteed Obligations.”

 

2.             Liability of Guarantor. The liability
of Guarantor under this Guaranty shall be irrevocable, absolute, independent
and unconditional, and shall not be affected by any circumstance which might
constitute a discharge of a surety or guarantor other than the indefeasible
payment and performance in full of all Guaranteed Obligations. In furtherance
of the foregoing and without limiting the generality thereof, Guarantor agrees as
follows:

 

1

 

(a)           Guarantor’s
liability hereunder shall be the immediate, direct, and primary obligation of
Guarantor, and shall not be contingent upon Park Cattle’s exercise or
enforcement of any remedy it may have against the Obligors or any other person.

 

(b)           Park Cattle may
enforce this Guaranty with respect to the Lease, upon the occurrence of any
breach or default affecting the Lease upon written notice to Guarantor.

 

(c)           Guarantor’s
payment of a portion, but not all, of the Guaranteed Obligations shall in no
way limit, affect, modify or abridge Guarantor’s liability for any portion of
the Guaranteed Obligations remaining unsatisfied.

 

(d)           Guarantor’s
liability with respect to the Guaranteed Obligations shall remain in full force
and effect without regard to, and shall not be impaired or affected by, nor
shall Guarantor be exonerated or discharged by, any of the following events:

 

(i)            any insolvency,
bankruptcy, reorganization, arrangement, adjustment, composition, assignment
for the benefit of creditors, liquidation, winding up or dissolution of
Obligors, Guarantor, any other guarantor or any other person or entity;

 

(ii)           the liability
of Obligors, Guarantor, any other guarantor or any other person or entity for
any Guaranteed Obligations due to any statute, regulation or rule of law,
or any invalidity or unenforceability in whole or in part of any of the
Guaranteed Obligations or the Lease;

 

(iii)          any merger,
acquisition, consolidation or change in structure of Obligors, Guarantor or any
other guarantor or person, or any sale, lease, transfer or other disposition of
any or all of the assets or ownership interests of Obligors, Guarantor, any
other guarantor or other person or entity;

 

(iv)          any assignment or
other transfer, in whole or in part, of Park Cattle’s interests in and rights
under this Guaranty or the Lease, including Park Cattle’s right to receive
payment of the Guaranteed Obligations, or any assignment or other transfer, in
whole or in part, of Park Cattle’s interests in and to the Guaranteed
Obligations;

 

(v)           any claim,
defense, counterclaim or setoff, other than that of full prior performance,
that Obligors, Guarantor, any other guarantor or other party may have or
assert, including any defense of incapacity or lack of corporate or other
authority to execute the Lease;

 

(vi)          Park Cattle’s
amendment, modification, renewal, extension, cancellation or surrender of the
Lease or any Guaranteed Obligations;

 

(vii)         Park Cattle’s
vote, claim, distribution, election, acceptance, action or inaction in any
bankruptcy case related to the Guaranteed Obligations; or

 

(viii)        any other
guaranty, whether by Guarantor or any other party, of all or any part of the
Guaranteed Obligations, or any other indebtedness, obligations or liabilities
of Obligors to Park Cattle.

 

3.             Consents of Guarantor. Guarantor
hereby unconditionally consents and agrees that, without notice and without
further assent from Guarantor, all as Park Cattle may deem advisable, and all
without impairing, abridging, releasing or affecting this Guaranty:

 

2

 

(a)           The amount of
the Guaranteed Obligations may be increased or decreased and additional
indebtedness or obligations of Obligors under the Lease may be incurred, by one
or more amendments, modifications, renewals or extensions of the Lease or
otherwise.

 

(b)           The time,
manner, place or terms of any payment under the Lease may be extended or
changed, including by an increase or decrease in the rent or interest rate on
any Guaranteed Obligation or any fee or other amount payable under the Lease,
by an amendment, modification or renewal of the Lease or otherwise.

 

(c)           The time for
Obligors’ (or any other party’s) performance of or compliance with any term,
covenant or agreement on its part to be performed or observed under the Lease
may be extended, or such performance or compliance waived, or failure in or
departure from such performance or compliance consented to, all in such manner
and upon such terms as Park Cattle may deem proper.

 

(d)           Park Cattle may
discharge or release, in whole or in part, any other guarantor or any other
party liable for the payment and performance of all or any part of the
Guaranteed Obligations, and may permit or consent to any such action or any
result of such action, and shall not be liable to any Guarantor for any failure
to collect or enforce payment or performance of the Guaranteed Obligations from
any party.

 

(e)           Park Cattle may
request and accept other guaranties of the Guaranteed Obligations and any other
indebtedness, obligations or liabilities of Obligors to Park Cattle and may,
from time to time, in whole or in part, surrender, release, subordinate,
modify, waive, rescind, compromise or extend any such guaranty and may permit
or consent to any such action or the result of any such action.

 

(f)            Park Cattle may
exercise, or waive or otherwise refrain from exercising, any other right,
remedy, power or privilege (including the right to accelerate the maturity of
any Guaranteed Obligation and any power of sale) granted by the Lease or other
agreement, or otherwise available to Park Cattle, with respect to the
Guaranteed Obligations, even if the exercise of such right, remedy, power or
privilege affects or eliminates any right of subrogation or any other right of
Guarantor against Obligors.

 

Park
Cattle agrees to provide Guarantor with timely notice of any of the events set
forth in Paragraphs 3(a) through 3(f) above, but the failure to
provide any such notice shall in no way limit, modify or diminish any of
obligations of the Guarantor hereunder.

 

4.             Guarantors’ Waivers.

 

(a)           Guarantors
hereby waive and agree not to assert:

 

(i)            any right to
require Park Cattle to marshall  assets in favor of Obligors,
Guarantor, any other guarantor or any other party, to proceed against Obligors,
any other guarantor or any other party, or to pursue any other right, remedy,
power or privilege of Park Cattle whatsoever;

 

(ii)           the defense of the statute
of limitations in any action hereunder or for the collection or performance of
the Guaranteed Obligations;

 

(iii)          any defense
arising by reason of any lack of corporate or other authority or any other
defense of Obligors, Guarantor or any other party;

 

3

 

(iv)          any defense
based upon any Park Cattle’s errors or omissions in the administration
of the Guaranteed Obligations except for Park Cattle’s gross negligence or
willful misconduct in connection with such administration;

 

(v)           any rights to
set-offs and counterclaims;

 

(vi)          Guarantor’s
rights of subrogation, reimbursement, indemnification, and contribution and any
other rights and defenses that are or may become available with respect to the
Guaranteed Obligations to Guarantor by reason of the legal principles described
in and/or the Nevada equivalent of California Civil Code Sections 2787 to 2855,
inclusive;

 

(vii)         any rights or
defenses Guarantor may have in respect of their obligations as guarantors or
other surety by reason of any election of remedies by the creditor;

 

(viii)        without
limiting the generality of the foregoing, to the fullest extent permitted by
law, any defenses or benefits that may be derived from or afforded by
applicable law limiting the liability of or exonerating guarantors or sureties,
or which may conflict with the terms of this Guaranty.

 

(b)           Guarantor
waives any and all notice of the acceptance of this Guaranty, and any and all
notice of the creation, renewal, modification, extension or accrual of the
Guaranteed Obligations, or the reliance by Park Cattle upon this Guaranty, or
the exercise of any right, power or privilege hereunder. The Guaranteed
Obligations shall conclusively be deemed to have been created, contracted,
incurred and permitted to exist in reliance upon this Guaranty. Except with
respect to Park Cattle’s obligation to provide written notice of default or
breaches to the CPT (or its successor tenant) pursuant to the Lease, Guarantors
waive promptness, diligence, presentment, protest, demand for payment, notice
of default, dishonor or nonpayment and all other notices to or upon Obligors,
Guarantor or any other party with respect to the Guaranteed Obligations.

 

(c)           The obligations
of each of the Guarantors hereunder are independent of and separate from the
obligations of Obligors and any other guarantor and upon the occurrence and
during the continuance of any breach or default under the Lease, a separate
action or actions may be brought against any Guarantor, whether or not Obligors
or any such other guarantor is joined therein or a separate action or actions
are brought against Obligors or any such other guarantor.

 

(d)           Guarantors
shall not have any right to require Park Cattle to obtain or disclose any information
with respect to: (i) the financial condition or character of Obligors or the
ability of Obligors to pay and perform the Guaranteed Obligations; (ii) the
Guaranteed Obligations; (iii) the existence or nonexistence of any other
guarantees of all or any part of the Guaranteed Obligations; (iv) any action or
inaction on the part of Park Cattle or any other party; or (v) any other
matter, fact or occurrence whatsoever.

 

5.             Waiver of
Subrogation Rights and Subordination. Guarantor
shall not have, shall not directly or indirectly exercise, and hereby waives (a) any
rights that it may acquire by way of subrogation under this Guaranty, by any
payment hereunder or otherwise, (b) any rights of contribution,
indemnification, reimbursement or similar suretyship claims arising out of this
Guaranty, and (c) any other right which it might otherwise have or acquire
(in any way whatsoever) which could entitle it at any time to share or
participate in any right, remedy or security of Park Cattle as against Obligors
or other guarantors, in connection with the Lease. If any amount shall be paid
to any Guarantor on account of the foregoing rights at any time when all the
Guaranteed Obligations shall not have been paid in full, such amount shall be
held in trust for the benefit of Park Cattle and shall forthwith be paid to
Park Cattle to be credited and applied to the Guaranteed Obligations, whether
matured or unmatured, in accordance with the terms of

 

4

 

the
Lease. Any and all present and future debts and obligations of Obligors to Guarantor
are hereby postponed in favor of and subordinated to the full payment and
performance of all present and future debts and obligations of Obligors to Park
Cattle.

 

6.             Reinstatement. This Guaranty
shall continue to be effective or shall be reinstated and revived, as the case
may be, if, for any reason, any payment of the Guaranteed Obligations by or on
behalf of Obligors shall be rescinded, invalidated, declared to be fraudulent
or preferential, set aside, voided or otherwise required to be repaid to Obligors,
its estate, trustee, receiver or any other person or entity (including under
the Bankruptcy Code or other state or federal law), or must otherwise be
restored by Park Cattle, whether as a result of proceedings in bankruptcy or
reorganization or otherwise. To the extent any payment is so rescinded, set
aside, voided or otherwise repaid or restored, the Guaranteed Obligations shall
be revived in full force and effect without reduction or discharge for such
payment. All losses, damages, costs and expenses that Park Cattle may suffer or
incur as a result of any voided or otherwise set aside payments shall be
specifically covered by the indemnity in favor of Park Cattle contained in Section 13 hereof.

 

7.             Payments. Guarantor
hereby agrees, in furtherance of the foregoing provisions of this Guaranty and
not in limitation of any other right which Park Cattle or any other person or
entity may have against Guarantor by virtue hereof, upon the failure of
Obligors to pay any of the Guaranteed Obligations when and as the same shall
become due, whether at stated maturity, by required prepayment, declaration,
acceleration, demand or otherwise (including amounts that would become due but
for the operation of the automatic stay under Section 362(a) of the
Bankruptcy Code), Guarantor shall forthwith pay, or cause to be paid, in cash,
to Park Cattle an amount equal to the amount of the Guaranteed Obligations then
due, if any, as aforesaid (including interest which, but for the filing of a
petition in bankruptcy with respect to Obligors, would have accrued on such
Guaranteed Obligations, whether or not a claim is allowed against Obligors for
such interest in any such bankruptcy proceeding). Guarantor shall make each
payment hereunder, unconditionally in full without set-off, counterclaim or
other defense, or deduction for any taxes, on the day when due in U.S. dollars
and in immediately available funds, to Park Cattle. All such payments shall be
promptly applied against the Guaranteed Obligations from time to time by Park Cattle.

 

8.             Representations and
Warranties. Guarantor represents and warrants to Park
Cattle that:

 

(a)           This Guaranty
constitutes the legal, valid and binding obligation of Guarantor, enforceable
against Guarantor in accordance with its terms, subject to applicable
bankruptcy, insolvency and similar laws affecting rights of creditors
generally, and general principles of equity.

 

(b)           Upon the Plan
becoming effective on the date hereof, and after and giving effect to the
incurrence of Guarantor’s obligations under this Guaranty, Guarantor will not
be insolvent.

 

(c)           Guarantor has
received at least “reasonably equivalent value” (as such phrase is used in Section 548
of the Bankruptcy Code, and in comparable provisions of other applicable law)
and more than sufficient consideration to support its obligations hereunder in
respect of the Guaranteed Obligations.

 

(d)           Guarantor
hereby acknowledges that it has undertaken its own independent investigation of
the financial condition of Obligors and all other matters pertaining to this
Guaranty and further acknowledge that it is not relying in any manner upon any
representation or statement of Park Cattle with respect thereto. Guarantor
represents and warrants that it has received and reviewed copies of the Lease
and that it is in a position to obtain, and it hereby assumes full
responsibility for obtaining, any additional information concerning the
financial condition of Obligors and any other matters pertinent hereto that
Guarantor may desire.

 

5

 

Guarantor
is not relying upon or expecting Park Cattle to furnish to Guarantor any
information now or hereafter in Park Cattle’s possession concerning the
fmancial condition of Obligors or any other matter.

 

(e)           As of the date of this
Guaranty, Guarantor owns 100% of the outstanding equity of CPT.

 

9.             Reporting and
Financial Covenants. So long as any Guaranteed Obligations shall
remain unsatisfied, Guarantor will furnish to Park Cattle:

 

(a)           prompt written notice of any
other condition or event which has resulted, or that will be expected to
result, in a material adverse effect on any Obligor or Guarantor;

 

(b)           prompt written notice of
when Guarantor no longer owns, directly or indirectly through one or more
affiliates, at least a seventy percent (70%) voting and economic interest in
CPT; and

 

(c)           such other information
respecting the operations, properties, business or condition (financial or
otherwise) of Guarantor as Park Cattle may from time to time reasonably request
or as required by the Lease.

 

10.           Further
Assurances. So long as any Guaranteed Obligations shall
remain unsatisfied, Guarantor will execute, acknowledge, deliver, file,
notarize and register at its own expense all such further agreements,
instruments, certificates, documents and assurances and perform such acts as
Park Cattle shall deem necessary or appropriate to effectuate the purposes of
this Guaranty, and promptly provide Park Cattle with evidence of the foregoing
satisfactory in form and substance to them.

 

11.           Notices. All notices,
demands or other communications given hereunder shall be in writing and shall
be sufficiently given if delivered by overnight delivery service or sent by
registered or certified mail, first class, postage prepaid, personal delivery
or similar written means of communication, addressed as follows:

 

Guarantor:

 

Tahoe
Horizon, LLC

c/o
Tropicana Entertainment 

3930
Howard Hughes Pkwy 

Las
Vegas, NV 89169

Attn:
Marc Rubinstein

 

with
copy to (which shall not constitute notice):

 

Kirkland &
Ellis LLP 

300
North LaSalle Street 

Chicago,
Illinois 60654

Attn:
Gary E. Axelrod, Esq. 

 

Park
Cattle:

 

Park
Cattle Co.

1300
Buckeye Rd., Suite A

 

6

 

Minden,
NV 89423

 

with
copy to (which shall not constitute notice):

 

Downey
Brand LLP

427
West Plumb Lane

Reno,
NV 89509

Attn.
Sallie B. Armstrong, Esq.

 

And:

Woodburn
and Wedge

6100
Neil Road, Ste. 500

Reno,
NV 89511

Attn:
Gordon H. DePaoli, Esq.

 

or,
subject to the foregoing, such other address with respect to any party hereto
as such party may from time to time notify (as provided above) to the other
party hereto. Any such notice, demand or communication shall be deemed to have
been given if: (a) so mailed, as of the close of the third (3rd) Business
Day following the date so mailed; and (b) if personally delivered, on the
date of delivery; and (c) the next Business Day if mailed by express
overnight mail.

 

12.           No Waiver;
Cumulative Remedies. No failure on the part of Park Cattle to
exercise, and no delay in exercising, any right, remedy, power or privilege
hereunder shall operate as a waiver thereof, nor shall any single or partial
exercise of any such right, remedy, power or privilege preclude any other or
further exercise thereof or the exercise of any other right, remedy, power or privilege.
The rights and remedies under this Guaranty are cumulative and not exclusive of
any rights, remedies, powers and privileges that may be available to Park
Cattle under the Lease or otherwise.

 

13.           Costs and
Expenses; Indemnification.

 

(a)           In the event of (i) any
action or proceeding or Park Cattle’s collection or enforcement without
institution of litigation proceedings that involves the protection,
preservation or enforcement of Park Cattle’s rights or Guarantor’s obligations
under this Guaranty, or (ii) Park Cattle’s participation in any proceeding
which is authorized under the terms of the Lease, Park Cattle shall be entitled
to payment, upon demand, from Guarantor of all costs and expenses associated
therewith, including reasonable attorneys’ fees and litigation expenses.
Guarantor will pay Park Cattle, upon demand, all reasonable attorneys’ fees and
expenses incurred in the representation of Park Cattle in any aspect of any
bankruptcy or insolvency proceeding initiated by or on behalf of any Guarantor
that concerns any of its obligations to Park Cattle under this Guaranty, or
otherwise. In the event of a judgment against Guarantor concerning any aspect
of this Guaranty, the right to recover post-judgment attorneys’ fees and all
other costs and expenses incurred in enforcing the judgment shall not be merged
into and extinguished by any money judgment. The provisions of this Section constitute
a distinct and severable agreement from the other contractual rights created by
this Guaranty.

 

(b)           In addition, whether or not
the transactions contemplated by the Lease shall be consummated, Guarantor
hereby agrees to indemnify Park Cattle, any affiliate thereof, and their
respective directors, officers, employees, agents, counsel and other advisors
(each an “Indemnified Party”), against, and hold each of them
harmless from, any and all liabilities, obligations, losses, claims, damages,
penalties, actions, judgments, suits, costs, expenses or disbursements of any
kind or nature whatsoever, including the reasonable fees and disbursements

 

7

 

of
counsel to an Indemnified Party, which may be imposed on, incurred by, or
asserted against any Indemnified Party, (i) in any way relating to or
arising out of this Guaranty or the Guaranteed Obligations, or (ii) with
respect to any investigation, litigation or other proceeding relating to any of
the foregoing, irrespective of whether the Indemnified Party shall be
designated a party thereto (the “Indemnified Liabilities”); provided, however, that Guarantor shall not be
liable to any Indemnified Party for any portion of such Indemnified Liabilities
to the extent they are found by a final decision of a Court of competent
jurisdiction to have resulted from such Indemnified Party’s gross negligence or
willful misconduct. If and to the extent that the foregoing indemnification is
for any reason held unenforceable, Guarantor agrees to make the maximum
contribution to the payment and satisfaction of each of the Indemnified
Liabilities which is permissible under applicable law.

 

(c)           At the election of any
Indemnified Party, Guarantor shall defend such Indemnified Party using legal
counsel reasonably satisfactory to such Indemnified Party, at the sole cost and
expense of Guarantor.

 

(d)           Any amounts payable to Park
Cattle under this Section if not paid upon demand shall bear interest from
the date of such demand until paid in full, at the highest rate of interest
provided for under the law (and if no rate is so provided, then at 8%). The right
of Park Cattle under this Section 13 are in addition to any other
indemnification rights it may have against Obligors.

 

14.           Right of
Set-Off. Upon the occurrence and during the continuance of any breach or
default under this Guaranty and/or the Lease, Park Cattle is hereby authorized
at any time and from time to time, without notice to Guarantor (any such notice
being expressly waived by Guarantor), to set off and apply any and all deposits
(general or special, time or demand, provisional or final) at any time held and
other indebtedness at any time owing by Park Cattle to or for the credit or the
account of Guarantor against any and all of the obligations of Guarantor now or
hereafter existing under this Guaranty, irrespective of whether or not Park Cattle
shall have made any demand upon Obligors or Guarantor under the Lease and
although such obligations may be contingent and unmatured. Park Cattle shall
promptly notify Guarantor after any such set-off and application made by it; provided, however, that the failure to
give such notice shall not affect the validity of such setoff and application.
The rights of Park Cattle under this Section are in addition to other
rights and remedies (including other rights of set-off) which Park Cattle may
have.

 

15.           Survival. All
covenants, agreements, representations and warranties made in this Guaranty
survive the execution and delivery of this Guaranty, and shall continue in full
force and effect so long as any Guaranteed Obligations remain unsatisfied.
Without limiting the generality of the foregoing, the obligations of Guarantor
under Section 13 hereof shall survive the satisfaction of the
Guaranteed Obligations.

 

16.           Benefits of
Agreement. This Guaranty is entered into for the sole
protection and benefit of Park Cattle and their successors and assigns, and no other party shall be a direct or indirect beneficiary of, or
shall have any direct or indirect cause of action or claim in connection with,
this Guaranty. Park Cattle, by its acceptance of this Guaranty, shall not have
any obligations under this Guaranty to any person or entity other than
Guarantor, and such obligations shall be limited to those expressly stated
herein.

 

17.           Binding Effect;
Assignment. This Guaranty shall be binding upon Guarantor and
their successors and assigns, and inure to the benefit of and be enforceable by
Park Cattle and its successors, endorses, transferees and assigns. Guarantor
shall not have the right to assign or transfer their rights and obligations
hereunder without the prior written consent of Park Cattle.

 

8

 

18.           Entire
Agreement; Amendments and Waivers. This Guaranty constitutes
the entire agreement of Guarantor with respect to the matters set forth herein
and supersedes any prior agreements, commitments, drafts, communications,
discussions and understandings, oral or written, with respect thereto. There
are no conditions to the full effectiveness of this Guaranty. This Guaranty may
not be amended except by a writing signed by Guarantor and Park Cattle. No
waiver of any rights of Park Cattle under any provision of this Guaranty or
consent to any departure by Guarantor therefrom shall be effective unless in
writing and signed by Park Cattle. Any such amendment, waiver or consent shall
be effective only in the specific instance and for the specific purpose for
which given.

 

19.           Limitation on
Liability. No claim shall be made by Guarantor against Park
Cattle or any of its affiliates, directors, employees, attorneys or agents for
any special, indirect, exemplary, consequential or punitive damages in respect
of any breach or wrongful conduct (whether or not the claim therefor is based
on contract, tort or duty imposed by law), in connection with, arising out of
or in any way related to the transactions contemplated by this Guaranty or any
act or omission or event occurring in connection therewith, and Guarantor
hereby waives, releases and agrees not to sue upon any such claim for any such
damages, whether or not accrued and whether or not known or suspected to exist
in its favor unless such claim relates to or arises from the willful misconduct
or gross negligence of Park Cattle.

 

20.           Interpretation. This Guaranty
is the result of negotiations between and have been reviewed by counsel to Park
Cattle and Guarantor and is the product of the parties hereto. Accordingly,
this Guaranty shall not be construed against Park Cattle merely because of Park
Cattle’s involvement in the preparation thereof. This Guaranty shall be
interpreted in an evenhanded manner rather than against any party. Captions are
for convenience of reference only. The singular shall include the plural, and
the masculine shall include the feminine.

 

21.           Severability. Whenever
possible, each provision of this Guaranty shall be interpreted in such manner
as to be effective and valid under all applicable laws and regulations. If,
however, any provision of this Guaranty shall be prohibited by or invalid under
any such law or regulation in any jurisdiction, it shall, as to such jurisdiction,
be deemed modified to conform to the minimum requirements of such law or
regulation, or, if for any reason it is not deemed so modified, it shall be
ineffective and invalid only to the extent of such prohibition or invalidity
without affecting the remaining provisions of this Guaranty, or the validity or
effectiveness of such provision in any other jurisdiction.

 

22.           Venue. Guarantor
hereby submits itself to the jurisdiction of the courts of the State of Nevada,
and agree that any disputes arising hereunder shall be resolved in a court of
competent jurisdiction in Minden, Nevada, or if there is no such court, then in
the court of competent jurisdiction nearest to Minden, Nevada.

 

23.           Attorneys Fees. In any action
to enforce or interpret this Guaranty, the prevailing party shall be entitled
to its reasonable attorneys’ fees, costs and expenses.

 

24.           Confidentiality. The parties
to this Guaranty shall keep its terms confidential, except to the extent
necessary to enforce any rights under this Guaranty.

 

25.           Release From
Guaranty. Park Cattle shall release Guarantor from this
Guaranty upon satisfaction of the conditions precedent to such release set
forth in the Lease and upon a new guarantor entering into a new guaranty (on
substantially the same terms as set forth herein) with Park Cattle, which new
guaranty shall include the assumption of and the responsibility for all of
Guarantor’s obligations under this Guaranty existing prior on the date of such
assumption.

 

9

 

Guarantor
has executed this Guaranty, as of the date first above written. Guarantor has
read this Guaranty, been advised by legal counsel regarding its terms, and
understand those terms, and have freely and voluntarily entered into this
Guaranty.

 

	
  GUARANTOR:

  	
   

  
	
   

  	
   

  
	
  NEW
  TROPICANA OPCO, INC., a Delaware corporation

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
  Name:

  	
  Scott
  Butera

  	
   

  
	
  Its:

  	
  President
  and Chief Executive Officer

  	
   

  

 

10

 

SCHEDULE 1

 

DEFICIENCY LIST

 

23

 

MONT BLEU DEFICIENCY LIST

 

	
  TRACKING(1)

  	
   

  	
  CATEGORY

  	
   

  	
  DEFICIENCY

  	
   

  	
  REFERENCE(2)

  	
   

  	
  SECTION

  	
   

  	
  PAGE

  	
   

  	
  REQUIRED ACTION

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.

  	
   

  	
  Plumbing

  	
   

  	
  Abandoned
  Domestic Hot Water Heat Exchanger and Piping

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Mechanical, Fire
  Protection, Plumbing Systems

  	
   

  	
  4.1

  	
   

  	
  4

  	
   

  	
  Columbia
  Properties Tahoe (“CPT” and/or “Tenant”) will remove abandoned heat
  exchanger, cap off associated plumbing, and install redundant heat exchanger
  if necessary in accord with cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.

  	
   

  	
  Plumbing

  	
   

  	
  Kitchen
  Grease Interceptor Enzyme Treatment

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Mechanical, Fire Protection,
  Plumbing Systems

  	
   

  	
  4.2

  	
   

  	
  5

  	
   

  	
  Complete;
  to be removed from Schedule.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3.

  	
   

  	
  Plumbing

  	
   

  	
  Can
  Washing Grease Interceptor

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Mechanical, Fire
  Protection, Plumbing Systems

  	
   

  	
  4.3

  	
   

  	
  6

  	
   

  	
  Complete;
  to be removed from Schedule.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  4.

  	
   

  	
  Plumbing

  	
   

  	
  Domestic
  Hot Water Pumps

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Mechanical, Fire
  Protection, Plumbing Systems

  	
   

  	
  4.4

  	
   

  	
  6

  	
   

  	
  Tenant
  to replace domestic hot water heaters upon failure and/or as reasonably
  necessary in accord with cited reference.

  

 

(1)           Tracking numbers are for
identification purposes only. Tracking numbers followed by * are deficiencies
designated as “first priority” by Park Cattle Co., which the Tenant
acknowledges will be afforded appropriate corrective priority. Tenant agrees to
accord first priority to all deficiencies that implicate life safety or health
concerns.

 

(2)           The cited references in this
column are specifically incorporated by reference into this Schedule 2 to the
Mont Bleu Term Sheet. Where indicated, required corrective action is to be
performed in accord with the recommendations in the cited references. Tenant
acknowledges receipt of the cited references.

 

1

 

	
  TRACKING(1)

  	
   

  	
  CATEGORY

  	
   

  	
  DEFICIENCY

  	
   

  	
  REFERENCE(2)

  	
   

  	
  SECTION

  	
   

  	
  PAGE

  	
   

  	
  REQUIRED ACTION

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  5.

  	
   

  	
  Plumbing

  	
   

  	
  Domestic
  Water Service Meters Certification Record

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Mechanical, Fire
  Protection, Plumbing Systems

  	
   

  	
  4.5

  	
   

  	
  6

  	
   

  	
  Tenant
  to raise water meter above sump and water level to allow for accurate
  readings.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  6.

  	
   

  	
  Plumbing

  	
   

  	
  Damaged
  and Corroded Domestic Hot Water Pipe and Pipe Insulation

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Mechanical, Fire
  Protection, Plumbing Systems

  	
   

  	
  4.6

  	
   

  	
  7

  	
   

  	
  Tenant
  to replace pipe insulation in accord with cited reference; balance of items
  in cited reference will not be performed.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  7.

  	
   

  	
  INTENTIONALLY LEFT BLANK

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  8. *

  	
   

  	
  HVAC

  	
   

  	
  Casino
  Built Up Air Handler Repairs

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Mechanical, Fire
  Protection, Plumbing Systems

  	
   

  	
  5.1

  	
   

  	
  7

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  9.

  	
   

  	
  HVAC

  	
   

  	
  Rooftop
  Packaged Air Handlers

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Mechanical, Fire
  Protection, Plumbing Systems

  	
   

  	
  5.2

  	
   

  	
  10

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  10. *

  	
   

  	
  HVAC

  	
   

  	
  Casino
  and Hotel Fire-Rated Wall Construction

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Mechanical, Fire
  Protection, Plumbing Systems

  	
   

  	
  5.3

  	
   

  	
  12

  	
   

  	
  Tenant
  to correct deficiency in accord with the recommendations in the cited
  reference only if required by the March 20, 2009 Study of Fire
  Protection Capability for Mont Bleu (William A. Greene)3 as adopted and implemented by the Tahoe
  Douglas

  

 

(3)              Incorporated by
this reference.

 

2

 

	
  TRACKING(1)

  	
   

  	
  CATEGORY

  	
   

  	
  DEFICIENCY

  	
   

  	
  REFERENCE(2)

  	
   

  	
  SECTION

  	
   

  	
  PAGE

  	
   

  	
  REQUIRED ACTION

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Fire
  Protection District.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  11. *

  	
   

  	
  HVAC

  	
   

  	
  Duct
  Shaft Fire- Rated Wall Construction

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Mechanical, Fire
  Protection, Plumbing Systems

  	
   

  	
  5.4

  	
   

  	
  13

  	
   

  	
  Tenant
  to correct deficiency in accord with the recommendations in the cited
  reference only if required by the March 20, 2009 Study of Fire
  Protection Capability for Mont Bleu (William A. Greene) as adopted and
  implemented by the Tahoe Douglas Fire Protection District.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  12. *

  	
   

  	
  HVAC

  	
   

  	
  Duct
  Shaft and  Rated Wall/Smoke Dampers

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Mechanical, Fire
  Protection, Plumbing Systems

  	
   

  	
  5.5

  	
   

  	
  14

  	
   

  	
  Tenant
  to correct deficiency in accord with the recommendations in the cited
  reference only if required by the March 20, 2009 Study of Fire
  Protection Capability for Mont Bleu (William A. Greene) as adopted and
  implemented by the Tahoe Douglas Fire Protection District.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  13. *

  	
   

  	
  HVAC

  	
   

  	
  Smoke
  Detector Spacing in Casino

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Mechanical, Fire
  Protection, Plumbing Systems

  	
   

  	
  5.6

  	
   

  	
  14

  	
   

  	
  Tenant
  to correct deficiency in accord with the recommendations in the cited
  reference only if required by the March 20, 2009 Study of Fire
  Protection Capability for Mont Bleu (William A. Greene) as adopted and
  implemented by the Tahoe Douglas Fire Protection District.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  14. *

  	
   

  	
  HVAC

  	
   

  	
  Laundry
  Room 2 Hour Fire Resistive Wall Construction

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Mechanical, Fire
  Protection, Plumbing Systems

  	
   

  	
  5.7

  	
   

  	
  14

  	
   

  	
  Tenant
  to correct deficiency in accord with the recommendations in the cited
  reference only if required by the March 20, 2009 Study of Fire
  Protection Capability for Mont Bleu (William A. Greene) as adopted and
  implemented by the Tahoe Douglas

  

 

3

 

	
  TRACKING(1)

  	
   

  	
  CATEGORY

  	
   

  	
  DEFICIENCY

  	
   

  	
  REFERENCE(2)

  	
   

  	
  SECTION

  	
   

  	
  PAGE

  	
   

  	
  REQUIRED ACTION

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Fire
  Protection District.

  
	
  15. *

  	
   

  	
  HVAC

  	
   

  	
  Laundry
  Room Rated Wall Duct Penetration FSD

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Mechanical, Fire
  Protection, Plumbing Systems

  	
   

  	
  5.8

  	
   

  	
  16

  	
   

  	
  Tenant
  to correct deficiency in accord with the recommendations in the cited
  reference only if required by the March 20, 2009 Study of Fire
  Protection Capability for Mont Bleu (William A. Greene) as adopted and
  implemented by the Tahoe Douglas Fire Protection District.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  16. *

  	
   

  	
  HVAC

  	
   

  	
  Laundry
  Room Air Balance

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Mechanical, Fire
  Protection, Plumbing Systems

  	
   

  	
  5.9

  	
   

  	
  18

  	
   

  	
  Tenant
  has obtained air balance study from Southland. Tenant to  implement
  recommendations of Southland as related to air balance issues in accord with  recommendations
  in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  17. *

  	
   

  	
  HVAC

  	
   

  	
  Engineered
  Smoke Control

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Mechanical, Fire
  Protection, Plumbing Systems

  	
   

  	
  5.10

  	
   

  	
  20

  	
   

  	
  Tenant
  to correct deficiency in accord with the recommendations in the cited
  reference only if required by the March 20, 2009 Study of Fire
  Protection Capability for Mont Bleu (William A. Greene) as adopted and
  implemented by the Tahoe Douglas Fire Protection District.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  18. *

  	
   

  	
  HVAC

  	
   

  	
  Spa
  and Pool Mechanical Rooms Ventilation and Exhaust

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Mechanical, Fire
  Protection, Plumbing Systems

  	
   

  	
  5.11

  	
   

  	
  21

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  19.

  	
   

  	
  HVAC

  	
   

  	
  Supports
  and Seismic Bracing

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report

  	
   

  	
  5.12

  	
   

  	
  21

  	
   

  	
  Inapplicable;
  to be removed from Schedule.

  

 

4

 

	
  TRACKING(1)

  	
   

  	
  CATEGORY

  	
   

  	
  DEFICIENCY

  	
   

  	
  REFERENCE(2)

  	
   

  	
  SECTION

  	
   

  	
  PAGE

  	
   

  	
  REQUIRED ACTION

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Mechanical,
  Fire Protection, Plumbing Systems

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  20.

  	
   

  	
  INTENTIONALLY LEFT BLANK

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  21.

  	
   

  	
  HVAC

  	
   

  	
  Steam
  Deaerator

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Mechanical, Fire
  Protection, Plumbing Systems

  	
   

  	
  5.14

  	
   

  	
  23

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  22.

  	
   

  	
  HVAC

  	
   

  	
  Flexible  Connections
  at Central Plant Pumps

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Mechanical, Fire
  Protection, Plumbing Systems

  	
   

  	
  5.15

  	
   

  	
  23

  	
   

  	
  Tenant
  to replace flexible connections at central plant pumps upon failure and/or as
  reasonably necessary in accord with recommendations in cited reference.
  Replacement program will continue beyond December 31, 2011, through
  termination of the lease.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  23.

  	
   

  	
  HVAC

  	
   

  	
  Existing
  Central Plant Pumps

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Mechanical, Fire
  Protection, Plumbing Systems

  	
   

  	
  5.16

  	
   

  	
  24

  	
   

  	
  Tenant
  to replace existing central plant pumps upon failure and/or as reasonably
  necessary in accord with recommendations in cited reference. Replacement
  program will continue beyond December 31, 2011, through termination of
  the Lease.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  24.

  	
   

  	
  HVAC

  	
   

  	
  Ventilation
  Fan in Passenger Elevator Machine Room

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Mechanical, Fire
  Protection, Plumbing Systems

  	
   

  	
  5.17

  	
   

  	
  25

  	
   

  	
  Complete;
  to be removed from Schedule.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  25.

  	
   

  	
  HVAC

  	
   

  	
  Grease
  at Kitchen Exhaust Fans and

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report

  	
   

  	
  5.18

  	
   

  	
  25

  	
   

  	
  Tenant
  to correct deficiency in accord with cited reference by placing on “Maximo”
  (or reasonable equivalent)

  

 

5

 

	
  TRACKING(1)

  	
   

  	
  CATEGORY

  	
   

  	
  DEFICIENCY

  	
   

  	
  REFERENCE(2)

  	
   

  	
  SECTION

  	
   

  	
  PAGE

  	
   

  	
  REQUIRED ACTION

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Ducts

  	
   

  	
  Mechanical,
  Fire Protection, Plumbing Systems

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  preventative
  maintenance  management system and
  conducting regular preventative maintenance.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  26.

  	
   

  	
  HVAC

  	
   

  	
  Corroded
  Pipe and Damaged Pipe Insulation

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Mechanical, Fire
  Protection, Plumbing Systems

  	
   

  	
  5.19

  	
   

  	
  25

  	
   

  	
  Tenant
  to correct deficiency in accord with cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  27.

  	
   

  	
  HVAC

  	
   

  	
  Health
  Club Air Distribution

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Mechanical, Fire
  Protection, Plumbing Systems

  	
   

  	
  5.20

  	
   

  	
  25

  	
   

  	
  Tenant
  to correct deficiency in accord with cite reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  28.

  	
   

  	
  HVAC

  	
   

  	
  Kitchen
  Exhaust and General  Exhaust Fans

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Mechanical, Fire
  Protection, Plumbing Systems

  	
   

  	
  5.21

  	
   

  	
  26

  	
   

  	
  Tenant
  to replace kitchen exhaust and general exhaust fans upon failure and/or as
  reasonably necessary in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  29.

  	
   

  	
  INTENTIONALLY LEFT BLANK

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  30.

  	
   

  	
  INTENTIONALLY LEFT BLANK

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  31.

  	
   

  	
  HVAC

  	
   

  	
  Abandoned
  Redundant Cooling Tower

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Mechanical, Fire
  Protection, Plumbing Systems

  	
   

  	
  5.24

  	
   

  	
  27

  	
   

  	
  Tenant
  to correct deficiency in accord with cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  32. *

  	
   

  	
  HVAC

  	
   

  	
  Miscellaneous
  Laundry Room Issues

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Mechanical, Fire
  Protection,

  	
   

  	
  5.25

  	
   

  	
  27

  	
   

  	
  Tenant
  to correct deficiencies in accord with cited reference.

  

 

6

 

	
  TRACKING(1)

  	
   

  	
  CATEGORY

  	
   

  	
  DEFICIENCY

  	
   

  	
  REFERENCE(2)

  	
   

  	
  SECTION

  	
   

  	
  PAGE

  	
   

  	
  REQUIRED ACTION

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Plumbing
  Systems

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  33.

  	
   

  	
  HVAC

  	
   

  	
  Preventative
  Maintenance Program and Maintenance Staff Level

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Mechanical, Fire
  Protection, Plumbing Systems

  	
   

  	
  5.26

  	
   

  	
  27

  	
   

  	
  Tenant
  to continue in its use of “Maximo” preventative maintenance system or
  equivalent.

   

  All
  major building systems and system components will be input into “Maximo” for
  preventative maintenance in accord with the manufacturers’ recommendations or
  appropriate industry standards for preventive maintenance (where
  manufacturers’ recommendations are not available), by December 31, 2009.

   

  Preventative
  maintenance on major building systems and components to be conducted
  thereafter pursuant to “Maximo” system.

   

  Tenant
  acknowledges that there are currently 16 employees in the
  engineering/maintenance department.

   

  Tenant
  to consider hiring, in its discretion, full time in house  electrician
  for the purpose of  correcting the electrical
  deficiencies set forth in this schedule.

  

 

7

 

	
  TRACKING(1)

  	
   

  	
  CATEGORY

  	
   

  	
  DEFICIENCY

  	
   

  	
  REFERENCE(2)

  	
   

  	
  SECTION

  	
   

  	
  PAGE

  	
   

  	
  REQUIRED ACTION

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  34.

  	
   

  	
  Mechanical/
  HVAC Documents Needed(4)

  	
   

  	
   

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Mechanical, Fire
  Protection, Plumbing Systems

  	
   

  	
  7.1

  	
   

  	
  28

  	
   

  	
  Tenant
  to provide the following documents in the cited reference: a, b, c, d, e, f, I,
  j, l, m, o, p, v, aa, and bb.

   

  Tenant
  to provide the following documents in the cited reference only to the extent
  that corrective action for the deficiencies that the documents relate to is
  required by the March 20, 2009 Study of Fire Protection Capability for
  Mont Bleu (William A. Greene) as adopted and implemented by the Tahoe Douglas
  Fire Protection District: n, q, r, s.

   

  Tenant
  will not be required to provide the remaining documents in the cited
  reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  35.

  	
   

  	
  Mechanical/
  HVAC Recommended Engineering Studies and Designs

  	
   

  	
   

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Mechanical, Fire
  Protection, Plumbing Systems

  	
   

  	
  7.2

  	
   

  	
  30

  	
   

  	
  Tenant
  to provide the following documents in the cited reference: f, 1, o, and q.

   

  Tenant
  to provide the following documents in the cited reference only to the extent
  that corrective action for the deficiencies that the documents relate to is
  required by the March 20, 2009 Study of Fire Protection Capability for
  Mont Bleu (William A. Greene) as adopted and implemented

  

 

(4)           The provision of documents as noted in this section
shall not diminish the Tenant’s continuing obligation to provide documents
pursuant to the Mont Bleu Lease Amendment.

 

8

 

	
  TRACKING(1)

  	
   

  	
  CATEGORY

  	
   

  	
  DEFICIENCY

  	
   

  	
  REFERENCE(2)

  	
   

  	
  SECTION

  	
   

  	
  PAGE

  	
   

  	
  REQUIRED ACTION

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  by
  the Tahoe Douglas Fire Protection District: c, f, g, h, i, j, k, m, n.

   

  Tenant
  will not be required to provide the remaining documents in the cited
  reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  36. *

  	
   

  	
  Fire
  Protection

  	
   

  	
  Rooftop
  Air  Handler Smoke Control Capability

  	
   

  	
  October 27,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Mechanical, Fire
  Protection, Plumbing Systems

  	
   

  	
  6.2

  	
   

  	
  28

  	
   

  	
  Tenant
  to correct deficiency in accord with the recommendations in the cited
  reference only if required by the March 20, 2009 Study of Fire
  Protection Capability for Mont Bleu (William A. Greene) as adopted and
  implemented by the Tahoe Douglas Fire Protection District.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  37.

  	
   

  	
  Fire
  Protection

  	
   

  	
  Missing
  Escutcheons—Main Entry

  	
   

  	
  November 6,
  2008

  Overhead Fire Protection Report

  	
   

  	
   

  	
   

  	
  1

  	
   

  	
  Tenant
  to correct the deficiency in accord with the recommendations in the cited
  reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  38.

  	
   

  	
  Fire
  Protection

  	
   

  	
  Improper
  Head Spacing—Casino Floor

  	
   

  	
  November 6,
  2008

  Overhead Fire Protection Report

  	
   

  	
   

  	
   

  	
  1

  	
   

  	
  Tenant
  to correct deficiency in accord with the recommendations in the cited
  reference only if required by the March 20, 2009 Study of Fire
  Protection Capability for Mont Bleu (William A. Greene) as adopted and
  implemented by the Tahoe Douglas Fire Protection District.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  39. *

  	
   

  	
  Fire
  Protection

  	
   

  	
  Antifreeze
  Loops— Casino

  	
   

  	
  November 6,
  2008

  Overhead Fire Protection Report

  	
   

  	
   

  	
   

  	
  2

  	
   

  	
  Complete;
  item to be removed from Schedule.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  40. *

  	
   

  	
  Fire
  Protection

  	
   

  	
  Sprinkler
  Heads— Casino Cage

  	
   

  	
  November 6,
  2008

  Overhead Fire Protection Report

  	
   

  	
   

  	
   

  	
  2

  	
   

  	
  Tenant
  to correct the deficiency in accord with the recommendations in the cited
  reference.

  

 

9

 

	
  TRACKING(1)

  	
   

  	
  CATEGORY

  	
   

  	
  DEFICIENCY

  	
   

  	
  REFERENCE(2)

  	
   

  	
  SECTION

  	
   

  	
  PAGE

  	
   

  	
  REQUIRED ACTION

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  41.

  	
   

  	
  Fire
  Protection

  	
   

  	
  Sprinkler
  Head—Buffet Area

  	
   

  	
  November 6,
  2008

  Overhead Fire Protection Report

  	
   

  	
   

  	
   

  	
  2

  	
   

  	
  Tenant
  to correct the deficiency in accord with the recommendations in the cited
  reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  42.

  	
   

  	
  Fire
  Protection

  	
   

  	
  Recall
  Sprinkler Heads—Kitchen Areas

  	
   

  	
  November 6,
  2008

  Overhead Fire Protection Report

  	
   

  	
   

  	
   

  	
  3

  	
   

  	
  Tenant
  to correct the deficiency in accord with the recommendations in the cited
  reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  43.

  	
   

  	
  Fire
  Protection

  	
   

  	
  Sprinkler
  Heads—Liquor Storage

  	
   

  	
  November 6,
  2008

  Overhead Fire Protection Report

  	
   

  	
   

  	
   

  	
  3

  	
   

  	
  Tenant
  to correct the deficiency in accord with the recommendations in the cited
  reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  44.

  	
   

  	
  Fire
  Protection

  	
   

  	
  Sprinkler
  Head/Missing Escutcheon—West Entry

  	
   

  	
  November 6,
  2008

  Overhead Fire Protection Report

  	
   

  	
   

  	
   

  	
  3

  	
   

  	
  Tenant
  to correct the deficiency in accord with the recommendations in the cited
  reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  45.

  	
   

  	
  Fire
  Protection

  	
   

  	
  Sprinkler
  Heads—Loading Dock

  	
   

  	
  November 6,
  2008

  Overhead Fire Protection Report

  	
   

  	
   

  	
   

  	
  3

  	
   

  	
  Tenant
  to correct the deficiency in accord with the recommendations in the cited
  reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  46.

  	
   

  	
  Fire
  Protection

  	
   

  	
  Seismic
  Bracing—Dry Goods Storage

  	
   

  	
  November 6,
  2008

  Overhead Fire Protection Report

  	
   

  	
   

  	
   

  	
  3

  	
   

  	
  Tenant
  to correct the deficiency in accord with the recommendations in the cited
  reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  47.

  	
   

  	
  Fire
  Protection

  	
   

  	
  Disconnected
  Sprinkler Heads—Dry Goods Storage

  	
   

  	
  November 6,
  2008

  Overhead Fire Protection Report

  	
   

  	
   

  	
   

  	
  3

  	
   

  	
  Tenant
  to correct the deficiency in accord with the recommendations in the cited
  reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  48. *

  	
   

  	
  Fire
  Protection

  	
   

  	
  Sprinkler
  Heads—Laundry Room

  	
   

  	
  November 6,
  2008

  Overhead Fire Protection Report

  	
   

  	
   

  	
   

  	
  4

  	
   

  	
  Tenant
  to correct the deficiency in accord with the recommendations in the cited
  reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  49.

  	
   

  	
  Fire
  Protection

  	
   

  	
  Sprinkler
  Heads/Heat Collectors—

  	
   

  	
  November 6,
  2008

  Overhead Fire Protection Report

  	
   

  	
   

  	
   

  	
  4

  	
   

  	
  Tenant
  to correct the deficiency in accord with the recommendations in

  

 

10

 

	
  TRACKING(1)

  	
   

  	
  CATEGORY

  	
   

  	
  DEFICIENCY

  	
   

  	
  REFERENCE(2)

  	
   

  	
  SECTION

  	
   

  	
  PAGE

  	
   

  	
  REQUIRED ACTION

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Catwalk
  Area

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  the
  cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  50.

  	
   

  	
  Fire
  Protection

  	
   

  	
  Code
  Compliance

  	
   

  	
  November 6,
  2008

  Overhead Fire Protection Report

  	
   

  	
   

  	
   

  	
  4

  	
   

  	
  Item
  to be removed from Schedule; superseded by the March 20, 2009 Study of
  Fire Protection Capability for Mont Bleu (William A. Greene) as adopted and
  implemented by the Tahoe Douglas Fire Protection  District.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  51. *

  	
   

  	
  Fire
  Protection

  	
   

  	
  Tamper
  Switch Wiring—Dry  System for Garage

  	
   

  	
  November 6,
  2008

  Overhead Fire Protection Report

  	
   

  	
   

  	
   

  	
  4

  	
   

  	
  Complete;
  item to be removed from Schedule.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  52. 

  	
   

  	
  Fire
  Protection

  	
   

  	
  Standpipes—Garage

  	
   

  	
  November 6,
  2008

  Overhead Fire Protection Report

  	
   

  	
   

  	
   

  	
  5

  	
   

  	
  Tenant
  to correct the deficiency in accord with the recommendations in the cited
  reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  53.

  	
   

  	
  Fire
  Protection

  	
   

  	
  Sprinkler
  Coverage—Garage

  	
   

  	
  November 6,
  2008

  Overhead Fire Protection Report

  	
   

  	
   

  	
   

  	
  5

  	
   

  	
  Tenant
  to correct deficiency in accord with the recommendations in the cited
  reference only if required by the March 20, 2009 Study of Fire
  Protection Capability for Mont Bleu (William A. Greene) as adopted and
  implemented by the Tahoe Douglas Fire Protection District.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  54.

  	
   

  	
  Fire
  Protection

  	
   

  	
  Pipe
  Hangers—Garage

  	
   

  	
  November 6,
  2008

  Overhead Fire Protection Report

  	
   

  	
   

  	
   

  	
  5

  	
   

  	
  Tenant
  to correct deficiency in accord with the recommendations in the cited
  reference only if required by the March 20, 2009 Study of Fire
  Protection Capability for Mont Bleu (William A. Greene) as adopted and
  implemented by the Tahoe Douglas Fire Protection District.

  

 

11

 

	
  TRACKING(1)

  	
   

  	
  CATEGORY

  	
   

  	
  DEFICIENCY

  	
   

  	
  REFERENCE(2)

  	
   

  	
  SECTION

  	
   

  	
  PAGE

  	
   

  	
  REQUIRED ACTION

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  55.

  	
   

  	
  Fire
  Protection

  	
   

  	
  Sprinkler
  Head Condition—Guest Floors 6 and 7

  	
   

  	
  November 6,
  2008

  Overhead Fire Protection Report

  	
   

  	
   

  	
   

  	
  6

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  56.

  	
   

  	
  Fire
  Protection

  	
   

  	
  Sprinkler
  Head Coverage—Guest Floors 5, 7, 8, and 9

  	
   

  	
  November 6,
  2008

  Overhead Fire Protection Report

  	
   

  	
   

  	
   

  	
  6

  	
   

  	
  Complete;
  item to be removed from Schedule.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  57.

  	
   

  	
  Fire
  Protection

  	
   

  	
  Control
  Valves—Floors 3, 4, and 5

  	
   

  	
  November 6,
  2008

  Overhead Fire Protection Report

  	
   

  	
   

  	
   

  	
  6

  	
   

  	
  Complete;
  item to be removed from Schedule.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  58. *

  	
   

  	
  Fire
  Protection

  	
   

  	
  Antifreeze
  Loops

  	
   

  	
  November 6,
  2008

  Overhead Fire Protection Report

  	
   

  	
   

  	
   

  	
  6

  	
   

  	
  Complete;
  item to be removed from Schedule.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  59. *

  	
   

  	
  Electrical

  	
   

  	
  Electrical
  Code Deficiencies - General

  	
   

  	
  November 19,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Electrical
  Systems

  	
   

  	
  2.0.A.

  	
   

  	
  5

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  60. *

  	
   

  	
  Electrical

  	
   

  	
  Other
  Code Deficiencies

  	
   

  	
  November 19,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Electrical
  Systems

  	
   

  	
  2.0.B.

  	
   

  	
  7

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  61.

  	
   

  	
  Electrical

  	
   

  	
  Main
  Incoming Service Equipment

  	
   

  	
  November 19,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Electrical
  Systems

  	
   

  	
  3.0.A.

  	
   

  	
  8

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  62.

  	
   

  	
  Electrical

  	
   

  	
  Utility
  Vault

  	
   

  	
  November 19,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Electrical
  Systems

  	
   

  	
  3.0.A.1.

  	
   

  	
  8

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  63.

  	
   

  	
  Electrical

  	
   

  	
  Busways

  	
   

  	
  November 19,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Electrical
  Systems

  	
   

  	
  3.0.A.2.

  	
   

  	
  9

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  

 

12

 

	
  TRACKING(1)

  	
   

  	
  CATEGORY

  	
   

  	
  DEFICIENCY

  	
   

  	
  REFERENCE(2)

  	
   

  	
  SECTION

  	
   

  	
  PAGE

  	
   

  	
  REQUIRED ACTION

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  64. *

  	
   

  	
  Electrical

  	
   

  	
  Main
  Service Switchboard MSB (MSB-1 & MSB-2)

  	
   

  	
  November 19,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Electrical
  Systems

  	
   

  	
  3.0.A.3.

  	
   

  	
  9

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  65.

  	
   

  	
  Electrical

  	
   

  	
  Main
  Service Switchboard MSB-3

  	
   

  	
  November 19,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Electrical
  Systems

  	
   

  	
  3.0.A.4.

  	
   

  	
  11

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  66.

  	
   

  	
  Electrical

  	
   

  	
  Main
  Service Switchboard MSB-4

  	
   

  	
  November 19,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Electrical
  Systems

  	
   

  	
  3.0.A.5.

  	
   

  	
  12

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  67. *

  	
   

  	
  Electrical

  	
   

  	
  Emergency
  Generators

  	
   

  	
  November 19,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Electrical
  Systems

  	
   

  	
  3.0.B.1.

  	
   

  	
  13

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  68. *

  	
   

  	
  Electrical

  	
   

  	
  Generator
  Paralleling Switchgear

  	
   

  	
  November 19,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Electrical
  Systems

  	
   

  	
  3.0.B.2.

  	
   

  	
  14

  	
   

  	
  Tenant
  has completed testing set forth in cite reference. Tenant will clean and calibrate
  the generator paralleling switchgear in accord with the recommendations in
  the cited  reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  69. *

  	
   

  	
  Electrical

  	
   

  	
  Automatic
  Transfer Switches ATS-1, ATS-2, & ATS-3, CCB and Fire Pump

  	
   

  	
  November 19,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Electrical
  Systems

  	
   

  	
  3.0.B.3.

  	
   

  	
  15

  	
   

  	
  Tenant
  has completed testing set forth in cite reference. Tenant will clean and
  calibrate the automatic transfer switches in accord with the recommendations
  in the cited  reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  70.

  	
   

  	
  Electrical

  	
   

  	
  Emergency
  Distribution Panel EM-1

  	
   

  	
  November 19,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Electrical
  Systems

  	
   

  	
  3.0.B.4.

  	
   

  	
  16

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  71.

  	
   

  	
  Electrical

  	
   

  	
  Emergency

  	
   

  	
  November 19,
  2008

  	
   

  	
  3.0.B.5.

  	
   

  	
  17

  	
   

  	
  Tenant
  to correct deficiency in accord

  

 

13

 

	
  TRACKING(1)

  	
   

  	
  CATEGORY

  	
   

  	
  DEFICIENCY

  	
   

  	
  REFERENCE(2)

  	
   

  	
  SECTION

  	
   

  	
  PAGE

  	
   

  	
  REQUIRED ACTION

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Distribution
  Panel EM-2

  	
   

  	
  CTG
  MB Casino and Hotel Condition Assessment Report Electrical Systems

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  with
  recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  72. *

  	
   

  	
  Electrical

  	
   

  	
  Motor
  Control Center MCC-DC, MCC-EDME and MCC-DME

  	
   

  	
  November 19,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Electrical Systems

  	
   

  	
  3.0.C.1.

  	
   

  	
  18

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  73.

  	
   

  	
  Electrical

  	
   

  	
  Motor
  Control Center MCCA (Kitchen)

  	
   

  	
  November 19,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Electrical Systems

  	
   

  	
  3.0.C.2.

  	
   

  	
  20

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  74. *

  	
   

  	
  Electrical

  	
   

  	
  Motor
  Control Center MCC-PR (Pool Room)

  	
   

  	
  November 19,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Electrical Systems

  	
   

  	
  3.0.C.3.

  	
   

  	
  21

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  75.

  	
   

  	
  Electrical

  	
   

  	
  Motor
  Control Center MMC-MF (Main Fan Control Room)

  	
   

  	
  November 19,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Electrical Systems

  	
   

  	
  3.0.C.4.

  	
   

  	
  22

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  76.

  	
   

  	
  Electrical

  	
   

  	
  Motor
  Control Center EMCC (Generator Room)

  	
   

  	
  November 19,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Electrical Systems

  	
   

  	
  3.0.C.5.

  	
   

  	
  23

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  77. *

  	
   

  	
  Electrical

  	
   

  	
  Variable
  Frequency Drives (VFD)

  	
   

  	
  November 19,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Electrical Systems

  	
   

  	
  3.0.D.1.

  	
   

  	
  25

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  78.

  	
   

  	
  Electrical

  	
   

  	
  Electrical
  Panelboards

  	
   

  	
  November 19,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Electrical Systems

  	
   

  	
  3.0.E.

  	
   

  	
  25

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  79. *

  	
   

  	
  Electrical

  	
   

  	
  Infrared
  Scans

  	
   

  	
  November 19,
  2008

  CTG MB Casino and Hotel

  	
   

  	
  3.0.F.

  	
   

  	
  26

  	
   

  	
  Complete;
  to be removed from

  

 

14

 

	
  TRACKING(1)

  	
   

  	
  CATEGORY

  	
   

  	
  DEFICIENCY

  	
   

  	
  REFERENCE(2)

  	
   

  	
  SECTION

  	
   

  	
  PAGE

  	
   

  	
  REQUIRED ACTION

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Condition
  Assessment Report Electrical Systems

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Schedule.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  80. *

  	
   

  	
  Electrical

  	
   

  	
  Transformers

  	
   

  	
  November 19,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Electrical
  Systems

  	
   

  	
  3.0.G.

  	
   

  	
  27

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  81.

  	
   

  	
  Electrical

  	
   

  	
  Electrical
  Systems Studies

  	
   

  	
  November 19,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Electrical
  Systems

  	
   

  	
  3.0.H.

  	
   

  	
  29

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  82.

  	
   

  	
  Electrical

  	
   

  	
  Grounding
  Systems

  	
   

  	
  November 19,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Electrical Systems

  	
   

  	
  3.0.I.

  	
   

  	
  29

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  83.

  	
   

  	
  Electrical

  	
   

  	
  Wiring
  Devices

  	
   

  	
  November 19,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Electrical
  Systems

  	
   

  	
  3.0.J.

  	
   

  	
  30

  	
   

  	
  Tenant
  to confirm that GFCI’s are installed in all guest rooms and that GFCI’s are
  in working order; Tenant to replace non-functioning switches, plugs, and
  other wiring devices.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  84.

  	
   

  	
  Electrical

  	
   

  	
  Lighting
  Fixtures

  	
   

  	
  November 19,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Electrical
  Systems

  	
   

  	
  3.0.K.

  	
   

  	
  30

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations 2 and 3 in cited
  reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  85.

  	
   

  	
  Electrical

  	
   

  	
  Electrical
  Rooms Identification

  	
   

  	
  November 19,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Electrical
  Systems

  	
   

  	
  3.0.L.

  	
   

  	
  31

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  86.

  	
   

  	
  Electrical

  	
   

  	
  Documents
  Requested

  	
   

  	
  November 19,
  2008

  CTG MB Casino and Hotel Condition Assessment Report Electrical
  Systems

  	
   

  	
  3.0.M.

  	
   

  	
  31

  	
   

  	
  Tenant
  to provide requested documents in cited reference.

  

 

15

 

	
  TRACKING(1)

  	
   

  	
  CATEGORY

  	
   

  	
  DEFICIENCY

  	
   

  	
  REFERENCE(2)

  	
   

  	
  SECTION

  	
   

  	
  PAGE

  	
   

  	
  REQUIRED ACTION

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  87.

  	
   

  	
  Roofing

  	
   

  	
  Seaman
  KEE Roofing

  	
   

  	
  October 17,
  2008

  WJE MontBleu Resort Casino & Spa  Roofing
  Condition Report

  	
   

  	
   

  	
   

  	
  2

  	
   

  	
  Tenant
  to correct the deficiency in accord with the recommendations in the cited
  reference modified as follows:

   

  1.  Tenant to perform roof inspections and
  maintenance in accord with the applicable warranties;

   

  2.  Tenant to repair damage noted in drawing
  A101;

   

  3.  Tenant to review technique used to attach
  the roofing membrane over the stucco substrate of the tower cornice. Tenant
  to take reasonably appropriate corrective action if method of attachment will
  not provide code required wind-uplift resistance.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  88. *

  	
   

  	
  Roofing

  	
   

  	
  Carlisle
  TP Roofing

  	
   

  	
  October 17,
  2008

  WJE MontBleu Resort Casino & Spa  Roofing
  Condition Report

  	
   

  	
   

  	
   

  	
  2

  	
   

  	
  Tenant
  to correct the deficiency in accord with the recommendations in the cited
  reference modified as follows:

   

  1.  Tenant to perform roof inspections and
  maintenance in accord with the applicable warranties;

   

  2.  Tenant to take reasonably appropriate
  corrective action to address the presence of moisture in the roof assembly as
  set forth in the March 10, 2008, report of James Strong of Wiss, Janney,
  Elstner &

  

 

16

 

	
  TRACKING(1)

  	
   

  	
  CATEGORY

  	
   

  	
  DEFICIENCY

  	
   

  	
  REFERENCE(2)

  	
   

  	
  SECTION

  	
   

  	
  PAGE

  	
   

  	
  REQUIRED ACTION

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Associates.
  (5)

   

  Tenant
  acknowledges receipt of the foregoing report.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  89.

  	
   

  	
  Roofing

  	
   

  	
  Modified
  Bitumen Roofing

  	
   

  	
  October 17,
  2008

  WJE MontBleu Resort Casino & Spa  Roofing
  Condition Report

  	
   

  	
   

  	
   

  	
  2

  	
   

  	
  Tenant
  to correct deficiency in accord with the recommendations in the cited
  reference as modified, if at all, by the work that the parties agree is  reasonably
  necessary relative to the garage elevator and stairwell penthouses. In any
  event, the roofs on the garage elevator and stairwell penthouses will be
  replaced by 2011.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  90. *

  	
   

  	
  Roofing

  	
   

  	
  Pool
  Deck Waterproofing

  	
   

  	
  October 17,
  2008

  WJE MontBleu Resort Casino & Spa  Roofing
  Condition Report

  	
   

  	
   

  	
   

  	
  3

  	
   

  	
  Tenant
  will correct the deficiency in accord with the recommendations in the cited
  reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  91.

  	
   

  	
  Roofing

  	
   

  	
  Walls
  Adjacent to Roofs

  	
   

  	
  October 17,
  2008

  WJE MontBleu Resort Casino & Spa  Roofing
  Condition Report

  	
   

  	
   

  	
   

  	
  4

  	
   

  	
  Tenant
  to correct deficiency in accord with the recommendations in the cited
  reference; provided, however, that the work will be coordinated with the  exterior work
  set forth in items 96-103.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  92. *

  	
   

  	
  Roofing

  	
   

  	
  Sheet
  Metal Copings

  	
   

  	
  October 17,
  2008

  WJE MontBleu Resort Casino & Spa  Roofing
  Condition Report

  	
   

  	
   

  	
   

  	
  4

  	
   

  	
  Tenant
  to correct the deficiency in accord with the recommendations in the cited
  reference modified as follows:

   

  Tenant
  will take reasonably

  

 

(5)           Incorporated by this reference.

 

17

 

	
  TRACKING(1)

  	
   

  	
  CATEGORY

  	
   

  	
  DEFICIENCY

  	
   

  	
  REFERENCE(2)

  	
   

  	
  SECTION

  	
   

  	
  PAGE

  	
   

  	
  REQUIRED ACTION

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  appropriate
  corrective action with regard to recommendations 1, 2, 3, and 4, all in
  accordance with recommendation 5, and will observe the recommendation in item
  6 in performing such work.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  93.

  	
   

  	
  Roofing

  	
   

  	
  Roof
  Drainage

  	
   

  	
  October 17,
  2008

  WJE MontBleu Resort Casino & Spa  Roofing
  Condition Report

  	
   

  	
   

  	
   

  	
  5

  	
   

  	
  Disputed;
  parties to meet and confer in good faith to identify material deficiencies
  relative to roof drainage and to develop a mutually acceptable scope of
  repair to be implemented by December 31, 2011.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  94.

  	
   

  	
  Roofing

  	
   

  	
  Roof
  Top  Equipment Attachment

  	
   

  	
  October 17,
  2008

  WJE MontBleu Resort Casino & Spa  Roofing
  Condition Report

  	
   

  	
   

  	
   

  	
  5

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  95.

  	
   

  	
  Roofing

  	
   

  	
  General
  Recommendations

  	
   

  	
  October 17,
  2008

  WJE MontBleu Resort Casino & Spa  Roofing
  Condition Report

  	
   

  	
   

  	
   

  	
  5

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  96. *

  	
   

  	
  Exterior

  	
   

  	
  Sealant

  	
   

  	
  October 21,
  2008

  WJE MontBleu Resort Casino & Spa  Façade
  Condition Report

  	
   

  	
   

  	
   

  	
  2

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  97. *

  	
   

  	
  Exterior

  	
   

  	
  Balconies

  	
   

  	
  October 21,
  2008

  WJE MontBleu Resort Casino & Spa  Façade
  Condition Report

  	
   

  	
   

  	
   

  	
  2

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  98.

  	
   

  	
  Exterior

  	
   

  	
  Stucco

  	
   

  	
  October 21,
  2008

  WJE MontBleu Resort Casino

  	
   

  	
   

  	
   

  	
  2

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited

  

 

18

 

	
  TRACKING(1)

  	
   

  	
  CATEGORY

  	
   

  	
  DEFICIENCY

  	
   

  	
  REFERENCE(2)

  	
   

  	
  SECTION

  	
   

  	
  PAGE

  	
   

  	
  REQUIRED ACTION

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  &
  Spa  Façade Condition Report

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  99.

  	
   

  	
  Exterior

  	
   

  	
  Concrete
  Masonry Units (CMU)

  	
   

  	
  October 21,
  2008

  WJE MontBleu Resort Casino & Spa  Façade
  Condition Report

  	
   

  	
   

  	
   

  	
  3

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  100.

  	
   

  	
  Exterior

  	
   

  	
  Coatings

  	
   

  	
  October 21,
  2008

  WJE MontBleu Resort Casino & Spa  Façade
  Condition Report

  	
   

  	
   

  	
   

  	
  3

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  101. *

  	
   

  	
  Exterior

  	
   

  	
  Curtain
  Wall

  	
   

  	
  October 21,
  2008

  WJE MontBleu Resort Casino & Spa  Façade
  Condition Report

  	
   

  	
   

  	
   

  	
  3

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  102.

  	
   

  	
  Exterior

  	
   

  	
  Lower
  Cornices

  	
   

  	
  October 21,
  2008

  WJE MontBleu Resort Casino & Spa  Façade
  Condition Report

  	
   

  	
   

  	
   

  	
  5

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  103.

  	
   

  	
  Exterior

  	
   

  	
  Tower
  Cornice

  	
   

  	
  October 21,
  2008

  WJE MontBleu Resort Casino & Spa  Façade
  Condition Report

  	
   

  	
   

  	
   

  	
  5

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  104.

  	
   

  	
  Exterior

  	
   

  	
  Glued
  Laminated Timbers (Glulam)

  	
   

  	
  October 21,
  2008

  WJE MontBleu Resort Casino & Spa  Façade
  Condition Report

  	
   

  	
   

  	
   

  	
  6

  	
   

  	
  Tenant
  will clean and seal the glulam beams.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  105.

  	
   

  	
  Exterior

  	
   

  	
  Site
  Concrete

  	
   

  	
  October 21,
  2008

  WJE MontBleu Resort Casino

  	
   

  	
   

  	
   

  	
  6

  	
   

  	
  Tenant
  to correct deficiency in accord with recommendations in cited

  

 

19

 

	
  TRACKING(1)

  	
   

  	
  CATEGORY

  	
   

  	
  DEFICIENCY

  	
   

  	
  REFERENCE(2)

  	
   

  	
  SECTION

  	
   

  	
  PAGE

  	
   

  	
  REQUIRED ACTION

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  & Spa  Façade Condition Report

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  reference.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  106.

  	
   

  	
  Exterior

  	
   

  	
  Miscellaneous

  	
   

  	
  October 21,
  2008

  WJE MontBleu Resort Casino & Spa  Façade Condition
  Report

  	
   

  	
   

  	
   

  	
  6

  	
   

  	
  Tenant
  to correct the deficiency in accord with the recommendations in cited
  reference in accord with the protocols set forth in Wise  Consulting’s
  MontBleu Resort Casino & Spa Facility Wide Fungal Assessment,
  February, 2009, and to perform any related and additional hygiene work as
  recommended in the MontBleu Resort Casino & Spa Facility Wide Fungal
  Assessment.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  107. *

  	
   

  	
  Mold/Hygiene

  	
   

  	
  Guest
  Rooms and Fan Coil Units

  	
   

  	
  October 17,
  2008

  Exponent Report of Industrial Hygiene Investigation and
  Recommendations

  	
   

  	
  Table
  2

  	
   

  	
  1

  	
   

  	
  Tenant
  to correct the deficiency in accord with the recommendations in cited
  reference in accord with the protocols set forth in Wise  Consulting’s
  MontBleu Resort Casino & Spa Facility Wide Fungal Assessment, February,
  2009, and to perform any related and additional hygiene work as recommended
  in the MontBleu Resort Casino & Spa Facility Wide Fungal Assessment.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  108.

  	
   

  	
  Mold/Hygiene

  	
   

  	
  Roof
  Mounted Packaged Air Handling Units

  	
   

  	
  October 17,
  2008

  Exponent Report of Industrial Hygiene Investigation and
  Recommendations

  	
   

  	
  Table
  2

  	
   

  	
  1

  	
   

  	
  Tenant
  to correct the deficiency in accord with the recommendations in cited
  reference in accord with the protocols set forth in Wise  Consulting’s
  MontBleu Resort Casino & Spa Facility Wide Fungal Assessment,
  February, 2009, and to perform any related and additional hygiene work as
  recommended in the

  

 

20

 

	
  TRACKING(1)

  	
   

  	
  CATEGORY

  	
   

  	
  DEFICIENCY

  	
   

  	
  REFERENCE(2)

  	
   

  	
  SECTION

  	
   

  	
  PAGE

  	
   

  	
  REQUIRED ACTION

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  MontBleu
  Resort Casino & Spa Facility Wide Fungal Assessment.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  109.

  	
   

  	
  Mold/Hygiene

  	
   

  	
  Main
  Fan Room

  	
   

  	
  October 17,
  2008

  Exponent Report of Industrial Hygiene Investigation and
  Recommendations

  	
   

  	
  Table
  2

  	
   

  	
  1

  	
   

  	
  Tenant
  to correct the deficiency in accord with the recommendations in cited
  reference in accord with the protocols set forth in Wise  Consulting’s
  MontBleu Resort Casino & Spa Facility Wide Fungal Assessment,
  February, 2009, and to perform any related and additional hygiene work as
  recommended in the MontBleu Resort Casino & Spa Facility Wide Fungal
  Assessment.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  110.

  	
   

  	
  Mold/Hygiene

  	
   

  	
  Pool/Spa

  	
   

  	
  October 17,
  2008

  Exponent Report of Industrial Hygiene Investigation and
  Recommendations

  	
   

  	
  Table
  2

  	
   

  	
  1

  	
   

  	
  Complete;
  item to be removed from Schedule.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  111.

  	
   

  	
  Mold/Hygiene

  	
   

  	
  Stairwell,
  8th Floor, A Wing

  	
   

  	
  October 17,
  2008

  Exponent Report of Industrial Hygiene Investigation and
  Recommendations

  	
   

  	
  Table
  2

  	
   

  	
  2

  	
   

  	
  Tenant
  to correct the deficiency in accord with the recommendations in cited
  reference in accord with the protocols set forth in Wise  Consulting’s
  MontBleu Resort Casino & Spa Facility Wide Fungal Assessment,
  February, 2009, and to perform any related and additional hygiene work as
  recommended in the MontBleu Resort Casino & Spa Facility Wide Fungal
  Assessment.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  112.

  	
   

  	
  Mold/Hygiene

  	
   

  	
  Housekeeping
  Rooms

  	
   

  	
  October 17,
  2008

  Exponent Report of Industrial Hygiene Investigation and
  Recommendations

  	
   

  	
  Table
  2

  	
   

  	
  2

  	
   

  	
  Tenant
  to correct the deficiency in accord with the recommendations in cited
  reference in accord with the protocols set forth in Wise

  

 

21

 

	
  TRACKING(1)

  	
   

  	
  CATEGORY

  	
   

  	
  DEFICIENCY

  	
   

  	
  REFERENCE(2)

  	
   

  	
  SECTION

  	
   

  	
  PAGE

  	
   

  	
  REQUIRED ACTION

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Consulting’s
  MontBleu Resort Casino & Spa Facility Wide Fungal Assessment,
  February, 2009, and to perform any related and additional hygiene work as
  recommended in the MontBleu Resort Casino & Spa Facility Wide Fungal
  Assessment.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  113.

  	
   

  	
  Mold/Hygiene

  	
   

  	
  Fire
  Exit Corridors

  	
   

  	
  October 17,
  2008

  Exponent Report of Industrial Hygiene Investigation and
  Recommendations

  	
   

  	
  Table
  2

  	
   

  	
  2

  	
   

  	
  Tenant
  to correct the deficiency in accord with the recommendations in cited
  reference in accord with the protocols set forth in Wise  Consulting’s
  MontBleu Resort Casino &  Spa Facility Wide Fungal Assessment, February,
  2009, and to perform any related and additional hygiene work as recommended
  in the MontBleu Resort Casino & Spa Facility Wide Fungal Assessment.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  114.

  	
   

  	
  Mold/Hygiene

  	
   

  	
  Roof
  and Wall Cavities (Tower Cornice)

  	
   

  	
  October 17,
  2008

  Exponent Report of Industrial Hygiene Investigation and
  Recommendations

  	
   

  	
  Table
  2

  	
   

  	
  2

  	
   

  	
  Complete;
  item to be removed from Schedule.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  115.

  	
   

  	
  Mold/Hygiene

  	
   

  	
  Men’s
  Spa Showers

  	
   

  	
  October 17,
  2008

  Exponent Report of Industrial Hygiene Investigation and
  Recommendations

  	
   

  	
  Table
  2

  	
   

  	
  2

  	
   

  	
  Complete;
  item to be removed from Schedule.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  116.

  	
   

  	
  Mold/Hygiene

  	
   

  	
  Carpet
  at Hallway Between Garage and Retail Space/North  Exterior

  	
   

  	
  October 17,
  2008

  Exponent Report of Industrial Hygiene Investigation and
  Recommendations

  	
   

  	
  Table
  2

  	
   

  	
  2

  	
   

  	
  Complete;
  item to be removed from Schedule.

  

 

22

 

	
  TRACKING(1)

  	
   

  	
  CATEGORY

  	
   

  	
  DEFICIENCY

  	
   

  	
  REFERENCE(2)

  	
   

  	
  SECTION

  	
   

  	
  PAGE

  	
   

  	
  REQUIRED ACTION

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  117.

  	
   

  	
  Mold/Hygiene

  	
   

  	
  Buffet
  Waitress Station

  	
   

  	
  October 17,
  2008

  Exponent Report of Industrial Hygiene Investigation and
  Recommendations

  	
   

  	
  Table
  2

  	
   

  	
  2

  	
   

  	
  Complete;
  item to be removed from Schedule.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  118.

  	
   

  	
  Mold/Hygiene

  	
   

  	
  Main
  Kitchen, Storage Closet

  	
   

  	
  October 17,
  2008

  Exponent Report of Industrial Hygiene Investigation and
  Recommendations

  	
   

  	
  Table
  2

  	
   

  	
  2

  	
   

  	
  Tenant
  to correct the deficiency in accord with the recommendations in cited
  reference in accord with the protocols set forth in Wise  Consulting’s
  MontBleu Resort Casino & Spa Facility Wide Fungal Assessment,
  February, 2009, and to perform any related and additional hygiene work as
  recommended in the MontBleu Resort Casino & Spa Facility Wide Fungal
  Assessment.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  119.

  	
   

  	
  Mold/Hygiene

  	
   

  	
  Utility
  Elevator for Former Stone Street

  	
   

  	
  October 17,
  2008

  Exponent Report of Industrial Hygiene Investigation and
  Recommendations

  	
   

  	
  Table
  2

  	
   

  	
  2

  	
   

  	
  Complete;
  item to be removed from Schedule.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  120. *

  	
   

  	
  Asbestos

  	
   

  	
  Facility
  Wide Asbestos Survey

  	
   

  	
  November 6,
  2008

  SCS Engineers  Inspections and Materials
  Testing Report

  	
   

  	
   

  	
   

  	
  2

  	
   

  	
  Item
  complete; Recommendations in facility wide asbestos survey to be observed
  going forward.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  121. *

  	
   

  	
  Garage

  	
   

  	
  Cracking
  of Post Tensioned Slabs and Girders on Uppermost Level

  	
   

  	
  November 18,
  2008

  WJE Mont Bleu Garage Condition Assessment

  	
   

  	
   

  	
   

  	
  2

  	
   

  	
  Pending.
  Awaiting Tenant’s consultant’s report relative to the garage deficiencies and
  response to WJE’s November 18, 2008, Mont Bleu Garage Condition
  Assessment. Upon receipt of the Tenant’s garage consultant’s report, Tenant
  and Park Cattle will meet and confer in good faith to determine and agree
  upon what work is reasonably necessary to

  

 

23

 

	
  TRACKING(1)

  	
   

  	
  CATEGORY

  	
   

  	
  DEFICIENCY

  	
   

  	
  REFERENCE(2)

  	
   

  	
  SECTION

  	
   

  	
  PAGE

  	
   

  	
  REQUIRED ACTION

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  correct
  the identified deficiency. Tenant will thereafter complete such work by
  December 31, 2011.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  122. *

  	
   

  	
  Garage

  	
   

  	
  Damage
  to Post Tensioning Tendons

  	
   

  	
  November 18,
  2008

  WJE Mont Bleu Garage Condition Assessment

  	
   

  	
   

  	
   

  	
  2

  	
   

  	
  Pending.
  Awaiting Tenant’s consultant’s report relative to the garage deficiencies and
  response to WJE’s November 18, 2008, Mont Bleu Garage Condition
  Assessment. Upon receipt of the Tenant’s garage consultant’s report, Tenant
  and Park Cattle will meet and confer in good faith to determine and agree
  upon what work is reasonably necessary to correct the identified deficiency.
  Tenant will thereafter complete such work by December 31, 2011.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  123.*

  	
   

  	
  Garage

  	
   

  	
  Movement
  of and Damage to Parapets

  	
   

  	
  November 18,
  2008

  WJE Mont Bleu Garage Condition Assessment

  	
   

  	
   

  	
   

  	
  2

  	
   

  	
  Pending.
  Awaiting Tenant’s consultant’s report relative to the garage deficiencies and
  response to WJE’s November 18, 2008, Mont Bleu Garage Condition
  Assessment. Upon receipt of the Tenant’s garage consultant’s report, Tenant
  and Park Cattle will meet and confer in good faith to determine and agree
  upon what work is reasonably necessary to correct the identified deficiency.
  Tenant will thereafter complete such work by December 31, 2011.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  124. *

  	
   

  	
  Garage

  	
   

  	
  Spalling
  of Concrete and Corrosion of Steel

  	
   

  	
  November 18,
  2008

  WJE Mont Bleu Garage Condition Assessment

  	
   

  	
   

  	
   

  	
  2

  	
   

  	
  Pending.
  Awaiting Tenant’s consultant’s report relative to the garage deficiencies and
  response to WJE’s November 18, 2008, Mont

  

 

24

 

	
  TRACKING(1)

  	
   

  	
  CATEGORY

  	
   

  	
  DEFICIENCY

  	
   

  	
  REFERENCE(2)

  	
   

  	
  SECTION

  	
   

  	
  PAGE

  	
   

  	
  REQUIRED ACTION

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Bleu
  Garage Condition Assessment. Upon receipt of the Tenant’s garage consultant’s
  report, Tenant and Park Cattle will meet and confer in good faith to
  determine and agree upon  what work is reasonably
  necessary to correct the identified deficiency. Tenant will thereafter
  complete such work by December 31, 2011.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  125. *

  	
   

  	
  Garage

  	
   

  	
  Chloride
  Ingress

  	
   

  	
  November 18,
  2008

  WJE Mont Bleu Garage Condition Assessment

  	
   

  	
   

  	
   

  	
  3

  	
   

  	
  Pending.
  Awaiting Tenant’s consultant’s report relative to the garage deficiencies and
  response to WJE’s November 18, 2008, Mont Bleu Garage Condition
  Assessment. Upon receipt of the Tenant’s garage consultant’s report, Tenant
  and Park Cattle will meet and confer in good faith to determine and agree
  upon what work is reasonably necessary to correct the identified deficiency.
  Tenant will thereafter complete such work by December 31, 2011.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  126. *

  	
   

  	
  Garage

  	
   

  	
  Freeze
  Thaw Damage

  	
   

  	
  November 18,
  2008

  WJE Mont Bleu Garage Condition Assessment

  	
   

  	
   

  	
   

  	
  4

  	
   

  	
  Pending.
  Awaiting Tenant’s consultant’s report relative to the garage deficiencies and
  response to WJE’s November 18, 2008, Mont Bleu Garage Condition
  Assessment. Upon receipt of the Tenant’s garage consultant’s report, Tenant
  and Park Cattle will meet and confer in good faith to determine and agree
  upon what work is reasonably necessary to correct the identified deficiency.
  Tenant will thereafter complete such

  

 

25

 

	
  TRACKING(1)

  	
   

  	
  CATEGORY

  	
   

  	
  DEFICIENCY

  	
   

  	
  REFERENCE(2)

  	
   

  	
  SECTION

  	
   

  	
  PAGE

  	
   

  	
  REQUIRED ACTION

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  work
  by December 31, 2011.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  127. *

  	
   

  	
  Garage

  	
   

  	
  Diagonal
  Cracking in Columns

  	
   

  	
  November 18,
  2008

  WJE Mont Bleu Garage Condition Assessment

  	
   

  	
   

  	
   

  	
  4

  	
   

  	
  Pending.
  Awaiting Tenant’s consultant’s report relative to the garage deficiencies and
  response to WJE’s November 18, 2008, Mont Bleu Garage Condition
  Assessment. Upon receipt of the Tenant’s garage consultant’s report, Tenant
  and Park Cattle will meet and confer in good faith to determine and agree
  upon what work is reasonably necessary to correct the identified deficiency.
  Tenant will thereafter complete such work by December 31, 2011.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  128. *

  	
   

  	
  Garage

  	
   

  	
  Control
  and Drainage of Water

  	
   

  	
  November 18,
  2008

  WJE Mont Bleu Garage Condition Assessment

  	
   

  	
   

  	
   

  	
  5

  	
   

  	
  Pending.
  Awaiting Tenant’s consultant’s report relative to the garage deficiencies and
  response to WJE’s November 18, 2008, Mont Bleu Garage Condition
  Assessment. Upon receipt of the Tenant’s garage consultant’s report, Tenant
  and Park Cattle will meet and confer in good faith to determine and agree
  upon what work is reasonably necessary to correct the identified deficiency.
  Tenant will thereafter complete such work by December 31, 2011.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  129. *

  	
   

  	
  Garage

  	
   

  	
  General
  Lack of Upkeep

  	
   

  	
  November 18,
  2008

  WJE Mont Bleu Garage Condition Assessment

  	
   

  	
   

  	
   

  	
  5

  	
   

  	
  Pending.
  Awaiting Tenant’s consultant’s report relative to the garage deficiencies and
  response to WJE’s November 18, 2008, Mont Bleu Garage Condition
  Assessment. Upon receipt of the Tenant’s garage

  

 

26

 

	
  TRACKING(1)

  	
   

  	
  CATEGORY

  	
   

  	
  DEFICIENCY

  	
   

  	
  REFERENCE(2)

  	
   

  	
  SECTION

  	
   

  	
  PAGE

  	
   

  	
  REQUIRED ACTION

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  consultant’s
  report, Tenant and Park Cattle will meet and confer in good faith to
  determine and agree upon what work is reasonably necessary to correct the
  identified deficiency. Tenant will thereafter complete such work by
  December 31, 2011.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  130. *

  	
   

  	
  INTENTIONALLY
  LEFT BLANK

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  131. *

  	
   

  	
  Garage

  	
   

  	
  Poor
  Quality and Incomplete Repairs

  	
   

  	
  November 18,
  2008

  WJE Mont Bleu Garage Condition Assessment

  	
   

  	
   

  	
   

  	
  6

  	
   

  	
  Pending.
  Awaiting Tenant’s consultant’s report relative to the garage deficiencies and
  response to WJE’s November 18, 2008, Mont Bleu Garage Condition
  Assessment. Upon receipt of the Tenant’s garage consultant’s report, Tenant
  and Park Cattle will meet and confer in good faith to determine and agree
  upon what work is reasonably necessary to correct the identified deficiency.
  Tenant will thereafter complete such work by December 31, 2011.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  132. *

  	
   

  	
  Garage

  	
   

  	
  Specific
  Review of the Reigstad Report

  	
   

  	
  November 18,
  2008

  WJE Mont Bleu Garage Condition Assessment

  	
   

  	
   

  	
   

  	
  6

  	
   

  	
  Pending.
  Awaiting Tenant’s consultant’s report relative to the garage deficiencies and
  response to WJE’s November 18, 2008, Mont Bleu Garage Condition
  Assessment. Upon receipt of the Tenant’s garage consultant’s report, Tenant
  and Park Cattle will meet and confer in good faith to determine and agree
  upon what work is reasonably necessary to correct the identified deficiency.
  Tenant will thereafter complete such

  

 

27

 

	
  TRACKING(1)

  	
   

  	
  CATEGORY

  	
   

  	
  DEFICIENCY

  	
   

  	
  REFERENCE(2)

  	
   

  	
  SECTION

  	
   

  	
  PAGE

  	
   

  	
  REQUIRED ACTION

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  work
  by December 31, 2011.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  133. *

  	
   

  	
  Garage

  	
   

  	
  Overall
  Disrepair of Grounds

  	
   

  	
  November 18,
  2008

  WJE Mont Bleu Garage Condition Assessment

  	
   

  	
   

  	
   

  	
  7

  	
   

  	
  Pending.
  Awaiting Tenant’s consultant’s report relative to the garage deficiencies and
  response to WJE’s November 18, 2008, Mont Bleu Garage Condition
  Assessment. Upon receipt of the Tenant’s garage consultant’s report, Tenant
  and Park Cattle will meet and confer in good faith to determine and agree
  upon what work is reasonably necessary to correct the identified deficiency.
  Tenant will thereafter complete such work by December 31, 2011.

  

 

28

 

CONSENT

 

The undersigned hereby consents to the terms of the
MontBleu Lease Amendment No. 2 and agrees to be bound by the terms of Article XIX
thereof. The signatory to this Consent represents and warrants that such
signatory has the full power and authority to sign this Consent and to bind any
entity on behalf of which the signatory has signed this Consent. Nothing in
this Consent shall be deemed an acknowledgement by the owner of such real
property (or any of its owners, employees, agents or representatives) of the
existence or extent of any such interest.

 

	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Its:

  	
   

  	
   

  
					

 

 

	
  STATE OF

  	
   

  	
            )

  
	
   

  	
            )    ss.

  
	
  COUNTY OF

  	
   

  	
            )

  
				

 

	
  On

  	
   

  	
  ,
  before me,

  	
   

  	
  ,

  
	
   

  	
  Date

  	
   

  	
  Name And Title
  Of Officer (e.g. “Jane Doe, Notary Public”)

  	
   

  
	
  personally appeared

  	
   

  	
  ,

  
	
   

  	
  Name(s) of Signer(s)

  	
   

  
						

proved
to me on the basis of satisfactory evidence to be the person(s) whose
name(s) is/are subscribed to the within instrument and acknowledged to me
that he/she/they executed the same in his/her/their authorized capacity(ies),
and that by his/her/their signature(s) on the instrument the person(s), or the
entity upon behalf of which the person(s) acted, executed the instrument.

 

I certify under PENALTY OF PERJURY under the laws of the State of                                        that
the foregoing paragraph is true and correct.

 

WITNESS
my hand and official seal.

 

24

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