Document:

First Amendment to Redevelopment Agreement

 Exhibit 10.51 
 FIRST AMENDMENT TO REDEVELOPMENT AGREEMENT AND 
 FIRST AMENDMENT TO OPTION FOR GROUND LEASE

 THIS FIRST AMENDMENT TO REDEVELOPMENT AGREEMENT AND FIRST AMENDMENT TO OPTION FOR GROUND LEASE (“Amendment”) is made
and entered into effective this 23rd day of December, 2004, by and between LAND CLEARANCE FOR REDEVELOPMENT AUTHORITY OF THE CITY OF ST. LOUIS (hereinafter the “LCRA”), a public body corporate and politic established pursuant to the
Land Clearance for Redevelopment Authority Law of the State of Missouri, for itself and on behalf of the City of St. Louis, Missouri (hereinafter the “City”), a political subdivision of the State of Missouri, and PINNACLE
ENTERTAINMENT, INC., a corporation duly organized and existing under the laws of the State of Delaware (hereinafter the “Redeveloper”). 
 W I T N E S S E T H: 
 WHEREAS, on April 22, 2004, LCRA and Redeveloper entered into that certain Redevelopment Agreement (the “Redevelopment Agreement”) which governed the development of certain real property described in
Exhibit A to the Redevelopment Agreement and referred to as the “Redevelopment Area”; and 
 WHEREAS,
LCRA and Redeveloper desire to extend the time in which to obtain the preliminary site plan approval from the Missouri Gaming Commission (hereafter “MGC”) contemplated in Section 4.1.2(iv) of the Redevelopment Agreement; and

 WHEREAS, the LCRA and Redeveloper desire to clarify their agreement regarding the preliminary site plan approval of the MGC;

 WHEREAS, LCRA and Redeveloper entered into that certain Option for Ground Lease (the “Option”) for certain real
property bounded by Martin Luther King Drive, Carr Street, First Street and Leonor K Sullivan Drive in the City of St. Louis, Missouri (the “Option Area”); and 
 WHEREAS, the Option permits the Redeveloper to exercise the Option for Ground Lease for Non-Gaming Uses (as defined in the Ground Lease and which
definition is incorporated herein by reference); and 
 WHEREAS, LCRA and the Redeveloper desire to amend the Option to permit the
Redeveloper to purchase the fee interest in the Property in the event that Redeveloper elects to use the Property for a mixed-use project that is substantially comprised of residential units sold on an individual basis as a Non-Gaming Use under the
provisions provided herein; and 
 WHEREAS, LCRA is obligated under the Option to exercise its power of eminent domain to attempt to
acquire any property in the Option Area not owned by the LCRA in order to lease or sell such property to Redeveloper if Redeveloper exercises certain rights under the Option; and 

 WHEREAS, the form of Ground Lease which is Exhibit B to the Option sets forth the process for
determining the Base Rent to be paid by Redeveloper under the Ground Lease in the event that Redeveloper exercises its rights under the Option and uses the property in the Option Area for Non-Gaming Uses; and 
 WHEREAS, LCRA and the Redeveloper desire to amend the form of Ground Lease to provide that the Base Rent for Non-Gaming Uses shall be subject to
adjustment based on the amount that the LCRA may be required to pay for any property in the Option Area under its exercise of eminent domain; 
 WHEREAS, upon a determination of Market Based Rent as set forth herein and in the Option, the Redeveloper contemplates entering into the Ground Lease immediately and redeveloping the Option Area in accordance with the Redevelopment
Agreement, including obtaining all approvals of the City and other governmental agencies having jurisdiction over the Option Area. 
 NOW,
THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are acknowledged by the parties hereto, the LCRA and Redeveloper agree as follows: 
 1. Extension. Sections 4.1.1(viii) and 4.1.2(iv) of the Redevelopment Agreement are each modified to substitute the date January 31,
2005 for December 31, 2004. 
 2. Preliminary Site Plan Approval. The references to the preliminary site plan approval by the MGC
in the Redevelopment Agreement, shall mean the issuance of findings of fact and conclusions of law by the MGC determining that Redeveloper’s site plan appears to comply with Missouri gaming law, and allowing Redeveloper to proceed to the next
step of the investigation process, subject to the review and approval by MGC of the final design and licensure. 
 3. Amendment to
Option. 
 a. The first paragraph of the Option following the “Witnesseth” clause shall be amended and restated as follows:

 “In consideration of the option money hereinafter described, and other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, Owner does hereby grant unto Optionee, the exclusive right and option (the “Option”) to lease, under the terms and conditions set forth in the Ground Lease attached hereto as Exhibit B (the
“Ground Lease”), up to seven (7) acres of real estate located in the City of St. Louis and further described in Exhibit A, attached hereto and made a part hereof, together with all appurtenances thereto and improvements
thereon (the “Property”). In the event that the Optionee elects to use the Property for a mixed-use project that is substantially comprised of residential units sold on an individual basis (the “Residential Uses”)
as a Non-Gaming Use, the Optionee may elect to acquire fee simple title to the Property from the Owner.” 
  

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 b. Section 3 is amended to add the following new paragraph to the end of the section: 
 “If the Optionee elects to acquire the Property for the Residential Uses in fee simple interest as herein provided, the Optionee shall provide its
written notice of such election to the Owner (“Fee Option Notice”) within the Option Term or the Renewal Term. Upon receipt of the Fee Option Notice by Owner, the parties shall agree to a closing date to be set not later than ninety
(90) days from the date of the Fee Option Notice. The purchase price for the fee simple interest in the Property shall be determined in accordance with the Appraisal Procedure in Section 3.5 of the Ground Lease for determining the fair
market value of the Property for Non-Gaming Uses except that such provisions shall be applied as closely as possible to a fee valuation rather than a leasehold valuation as therein stated. Optionee shall acquire a marketable fee simple interest
title in the Property in accordance with Section 5.2 of this Option.” 
 c. Section 5.2 is amended to add the following to the
end thereof: 
 “In the event that Optionee has elected to acquire fee simple interest in the Property for Residential Uses, then Owner
shall convey marketable fee simple interest to Optionee by Special Warranty Deed which title shall be insured by a title insurance policy insuring such title subject only to such encumbrances and exceptions as are reasonably acceptable to Optionee.
All taxes, fees, costs and expense items related to the Property shall be prorated between the parties as of the closing date and in the customary manner of the St. Louis City area for commercial transactions of this nature. Otherwise all provisions
applicable to the transfer of the leasehold title as set out herein shall be reasonably adopted between the parties to apply as closely as possible to a fee transaction rather than a leasehold transfer unless otherwise agreed by both parties.”

 4. Amendment to Ground Lease. 
 a. Section 3.1 of the Ground Lease entitled: “Definitions” shall be amended by adding the following definition immediately following “Option Notice”: 
 “Rent Notification Date” shall mean the later of (i) two (2) business days after approval of the preliminary site plan by MGC or
(ii) thirty days after commencement of the Appraisal Procedure. 
  

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 b. Section 3.5 of the Ground Lease entitled: “Market Rental Rate” Determination for
Non-Gaming Use” shall be amended as follows: 
 i. Section 3.5.1 is amended and restated as follows: 
 “On the Rent Notification Date, the Landlord shall advise Tenant in writing as to the Base Rent amount which Landlord proposes as the Market Rental
Rate for the Leased Premises as of the applicable Calculation Date or Adjustment Date. Landlord’s proposed Market Rental Rate shall separately reflect the Market Rental Rate attributable to property owned by Landlord at the commencement of the
Appraisal Procedure (the “Landlord Owned Property”) and for each parcel of property Landlord would be acquiring in an eminent domain action, and which includes the Cherrick Distributing property on the map attached as part of
Exhibit A to the Option (the “Eminent Domain Property” and the Landlord Owned Property and the Eminent Domain Property are collectively herein referred to as the “Combined Property”). If Tenant does not agree with
Landlord’s determination of the Market Rate Rent, Tenant shall notify Landlord within twenty (20) business days after receipt of Landlord’s notice of Tenant’s proposed Market Rental Rate.” 
 ii. Section 3.5.2 is amended and restated as follows: 
 “In the event Landlord and Tenant, after good faith negotiations, are unable to agree as to the Market Rental Rate on the Combined Property within sixty (60) days after the Rent Notification Date, either
Landlord or Tenant may begin the Appraisal Procedure by sending an Appraisal Notice to the other party, and Landlord and Tenant shall promptly convene a panel of two (2) Appraisers. Landlord shall appoint one member of the panel and Tenant
shall appoint one member of the panel. Landlord and Tenant shall each appoint their respective Appraiser member to the panel within ten (10) days after the Appraisal Notice. The Appraisers selected by Landlord and Tenant shall, within forty
(40) days after they have been appointed, submit his or her determination of the Fair Market Value on the Landlord Owned Property and the Eminent Domain Property and the Capitalization Rate. After the calculation of the Capitalization Rate and
Fair Market Value on the Landlord Owned Property and the Eminent Domain Property by the two (2) Appraisers, a preliminary Fair Market Rental on the Landlord Owned Property and the Eminent Domain Property shall be calculated by each Appraiser
using the following formula: the Capitalization Rate shall be multiplied by the Fair Market Value for the Combined Property. In the event that the lower Market Rate Rental for the Combined Property as calculated by the Appraisers is at least 90% of
the higher Market Rental Rate of the Combined Property, the average of such two Market Rental Rates of the Combined Property shall be deemed to be the Market Rental Rate 
  

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 for the Combined Property effective as of the Effective Date or the applicable Adjustment Date. In the
event that the Appraisers’ calculations are not within such 90% range, the two (2) Appraisers shall select a third Appraiser who shall, within thirty (30) days of the date selected calculate the Fair Market Value of the Landlord Owned
Property and the Eminent Domain Property and the Capitalization Rate. The calculations of the third Appraiser of the Fair Market Value of the Landlord Owned Property and the Eminent Domain Property and/or Capitalization Rate shall be used to
determine the Fair Market Value for the Combined Property, by multiplying the Fair Market Value for the Combined Property by the Capitalization Rate. The Fair Market Rental Rate for the Combined Property as determined by the Third Appraiser shall be
equal to or between the amounts calculated by the two (2) Appraisers. 
 Notwithstanding the foregoing and anything herein to the
contrary, for the purposes of annual Base Rent payable on the Effective Date as provided in Section 3.4 hereof, in the event that the Landlord acquires the Eminent Domain Property through a condemnation procedure, or settlement in lieu thereof
reasonably acceptable to Tenant, the Landlord’s property acquisition cost and related reasonable costs and expenses in connection with the acquisition of the Eminent Domain Property (and without any carrying or interest type additions) shall be
deemed the Fair Market Value of the Eminent Domain Property and shall be substituted for the Fair Market Value agreed to by the Landlord and Tenant pursuant to Section 3.5.1 hereof or determined by the Appraisers pursuant to this
Section 3.5.2, and the substituted Fair Market Value for the Eminent Domain Property shall apply retroactively to all Base Rent payments by Tenant (whether higher or lower) attributed to the Eminent Domain Property, if any or to the purchase
price paid by Tenant in connection with the purchase of the Property. If Tenant fails to exercise its Option to acquire the Eminent Domain Property within twenty (20) days of receipt of the notice of filing of commissioner’s report,
Tenant’s Option to lease the Eminent Domain Property shall terminate, and Landlord shall have no further obligation to deliver the Eminent Domain Property to Tenant, Landlord shall provide the Tenant a copy of all filings and pleadings when
made with the Court. In addition, Landlord shall promptly provide a copy of all correspondence, agreements (including proposed settlement agreements), and reports, or any portions thereof, generated in connection with the pricing of the Eminent
Domain Property during the course of the eminent domain proceedings or settlement thereof. 
 Notwithstanding the foregoing and anything
herein to the contrary and subject to the Landlord’s diligent exercise of its statutory eminent domain authority, Landlord is under no obligation to lease or sell the Eminent Domain Property to Tenant if a court of competent jurisdiction
determines that Landlord lacks jurisdiction to acquire the 
  

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 Eminent Domain Property through the exercise of its asserted statutory eminent domain authority after
Landlord’s exhaustion of its rights to appeal such court decision.” 
 5. Full Force and Effect/Binding Upon Parties/Successors
and Assigns. Except as modified and amended by this Amendment, the Redevelopment Agreement, and except as amended by this Amendment, the Ground Lease, shall each remain in full force and effect in accordance with the respective terms thereof.
Unless the context otherwise indicates, all other terms and conditions of the Redevelopment Agreement or the Ground Lease which are the same as or directly related to the revised terms and conditions set out in this Amendment are similarly modified
to be consistent with this Amendment. Except as modified by this Amendment, the Option shall remain in full force and effect in accordance with its terms. The provisions of this Amendment shall inure to the benefit of and be binding upon the parties
hereto, their successors and assigns. 
 6. Counterparts. This Amendment may be executed in counterparts, 
 [Signature Page Follows] 
  

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 IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the day and year first above
written. 
  

			
	 LAND CLEARANCE FOR
 REDEVELOPMENT AUTHORITY
OF THE
 CITY OF ST, LOUIS, a public body corporate
 and politic
established pursuant to
 Section 99.300 et seq. of the Revised Statutes
 of Missouri 2000, as amended

		
	By:	 	  

		 	Rodney Crim, Executive Director
	
	 PINNACLE ENTERTAINMENT, INC.,
 a Delaware corporation

		
	By:	 	 /s/ Jack Godfrey

		 	 Jack Godfrey, Senior Vice President,
 General Counsel
and Secretary

  

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 IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the day and year first above
written. 
  

			
	 LAND CLEARANCE FOR
 REDEVELOPMENT AUTHORITY
OF THE
 CITY OF ST, LOUIS, a public body corporate
 and politic
established pursuant to
 Section 99.300 et seq. of the Revised Statutes
 of Missouri 2000, as amended

		
	By:	 	 /s/ Rodney Crim

		 	Rodney Crim, Executive Director
	
	 PINNACLE ENTERTAINMENT, INC.,
 a Delaware corporation

		
	By:	 	  

		 	 Jack Godfrey, Senior Vice President,
 General Counsel
and Secretary

  

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 ACKNOWLEDGMENT 
  

					
	STATE OF MISSOURI	  	)	  	
		  	)  ss.	  	
	CITY OF ST. LOUIS	  	)	  	

 On this 23rd day of December, 2004, before me appeared RODNEY CRIM, to me personally known, who,
being for me duly sworn, did say that he is the Executive Director of the LAND CLEARANCE FOR REDEVELOPMENT AUTHORITY OF THE CITY OF ST. LOUIS, MISSOURI, a body politic and corporate organized under the laws of the State of Missouri, and said
instrument was signed in behalf of said Authority for itself and on behalf of the City of St. Louis, Missouri by authority of its Board of Commissioners and as authorized by the Board of Alderman of the City of St. Louis, Missouri, and said
individual acknowledged said instrument to be the free act and deed of said authority and said City. 
 IN TESTIMONY WHEREOF, I have hereunto
set my hand and affixed my official seal in the County and State aforesaid, the day and year first above written. 
  

	
	 /s/ Christina Johnson

	Notary Public
	
	 Christina Johnson

	(Printed Name)

  

	
	My Commission Expires:
	
	              1-21-07              

  

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 ACKNOWLEDGMENT 
  

					
	STATE OF NEVADA	  	)	  	
		  	)  ss.	  	
	CITY OF CLARK	  	)	  	

 On this 23rd day of December, 2004, before me appeared JACK GODFREY, to me personally known, who
being by me duly sworn, did say that he is the Senior Vice President, General Counsel and Secretary of PINNACLE ENTERTAINMENT, INC., a Delaware corporation, and that he is authorized to sign the instrument on behalf of said corporation by authority
of its Board of Directors, and acknowledged to me that he executed the within instrument as said corporation’s free act and deed. 
 IN
TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal in the County and State aforesaid, the day and year first above written. 
  

	
	 /s/ Elaine Pumphrey

	Notary Public
	
	 Elaine Pumphrey

	(Printed Name)

  

	
	My Commission Expires:
	
	              12-3-05              

  

 - 10 -Second Amendment to Redevelopment Agreement

 Exhibit 10.52 
 SECOND AMENDMENT TO REDEVELOPMENT AGREEMENT 
 THIS SECOND AMENDMENT TO REDEVELOPMENT AGREEMENT
(the “Amendment”) is made as of this 21st day of July, 2005, by and between Land Clearance for Redevelopment Authority of the City of St. Louis (“LCRA”) and Pinnacle Entertainment, Inc., (“Redeveloper”).

 RECITALS 
 A. On
April 22, 2004, LCRA and Redeveloper entered into that certain Redevelopment Agreement, as amended (the “Redevelopment Agreement”) which governed the development of certain real property described in Exhibit A to the
Redevelopment Agreement and referred to as the “Redevelopment Area”. 
 B. On July 7, 2005, LCRA and Redeveloper entered into
a Property Purchase Agreement, as amended by the First Amendment to Property Purchase Agreement dated as even date herewith, whereby LCRA agreed to sell and Redeveloper agreed to purchase certain property described on Exhibit A thereto (the
“LCRA Property”). 
 C. It is the intent of LCRA to see the LCRA Property developed. It is the desire of Redeveloper to improve the
LCRA Property in a manner to be reflected in a plan to be submitted to LCRA not later than six (6) months prior to the Casino Opening Date. Such plan shall incorporate the LCRA Property in the Redeveloper’s overall development plan.

 NOW, THEREFORE, in consideration of the premises and the promises herein and other good and valuable consideration, the adequacy and
sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 1. The following definitions shall be added to
Section 1.1: 
 “Ancillary Development Site” means a site which (a) has been cleared of all prior improvements
other than those improvements or rights of third parties with an interest in the LCRA Property; and (b) has been improved with a parking lot(s), landscaping, curbs, gutters and/or sidewalks in a manner that renders the LCRA Property ancillary
to the Improvements. 
 “Casino Opening Date” shall mean the date the casino and hotel (referred to in Subsection 3.12.2)
comprising the Improvements have both opened for business. 
 “LCRA Property” means the property described on Exhibit
H. 
 “Qualified Improvements” means buildings constructed on the LCRA Property, the plans for which have been approved by LCRA
which approval shall not be unreasonably withheld, by Redeveloper for a luxury condominium project, market-rate housing, a parking garage, one or more retail or mixed use developments or such other improvements approved by LCRA in its sole
discretion. 
 “Qualified Improvements Costs” means those capital expenditures incurred by Redeveloper in connection with
the construction of Qualified Improvements constructed in accordance with Subsection 3.12.1, excluding costs incurred in developing the Ancillary Development Site. 

 2. Section 3.12.1 is hereby amended by deleting the first sentence therein and by inserting in lieu
thereof the following sentence: 
 “Redeveloper shall exercise reasonable best efforts to construct either: (i) a luxury condominium
project associated with the luxury class hotel provided in Section 3.8 above, or (ii) one or more market-rate residential, retail or mixed-use developments located within an area bounded by the Mississippi River, Biddle Street, Interstate
70 and Eads Bridge.” 
 3. A new Subsection 3.12.3 is hereby added immediately following Subsection 3.12.2: 
 3.12.3 On or before August 31, 2005, Redeveloper shall acquire fee title to the LCRA Property pursuant to the Property Purchase
Agreement between Redeveloper and LCRA dated July 7, 2005, as amended by the First Amendment to Property Purchase Agreement dated as of July 21, 2005. Redeveloper covenants and agrees that it will render the LCRA Property as an Ancillary
Development Site on or before the Casino Opening Date and provide written confirmation to LCRA no later than ten (10) days after the Casino Opening Date that the LCRA Property was an Ancillary Development Site by the Casino Opening Date
(“Ancillary Development Obligation”). 
 Not less than six (6) months prior to the Casino Opening Date, the Redeveloper shall
send to LCRA for its reasonable approval plans and specifications for the Ancillary Development Site improvements which plans provide that the Ancillary Development Site improvements render the LCRA Property ancillary and complementary to other
Improvements or adjacent properties owned by Redeveloper. LCRA’s review of such plans with respect to parking lot(s) shall be based on development standards of comparable surface parking facilities within the City of St. Louis and such
approval shall not be unreasonably withheld. The project schedule set forth in Section 3.12.3 shall not apply to the Ancillary Development Site improvements contemplated herein. 
 Upon satisfaction of the Ancillary Development Obligation and acceptance of a Certificate of Substantial Completion for such work, LCRA agrees to credit
Two Million Six Hundred Fifty Five Thousand ($2,655,000.00) toward the Fifty Million Dollar ($50,000,000) capital investment requirement in Subsection 3.12.1. If on or before the date which is sixty (60) months after the Casino Opening Date,
the Redeveloper constructs Qualified Improvements on the LCRA Property with Qualified Improvement Costs exceeding Three Million Four Hundred Forty Five Thousand ($3,445,000.00) and Redeveloper provides written notice to LCRA within sixty-one
(61) months after the Casino Opening Date which includes written evidence of the Qualified Improvement Costs incurred (“LCRA Property Development”), LCRA shall credit the amount of such Qualified Improvement Costs against the Fifty
Million Dollar ($50,000,000) capital investment requirement in Subsection 3.12.1. 
  

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 4. Exhibit H to the Redevelopment Agreement is attached hereto as Exhibit A. 
 5. Full Force and Effect/Binding Upon Parties/Successors and Assigns. Except as modified and amended by this Amendment, the Redevelopment
Agreement shall remain in full force and effect in accordance with the terms thereof. Unless the context otherwise indicates, all other terms and conditions of the Redevelopment Agreement which are the same as or directly related to the revised
terms and conditions set out in this Amendment are similarly modified to be consistent with this Amendment. The provisions of this Amendment shall inure to the benefit of and be binding upon the parties hereto, their successors and assigns.

 6. Counterparts. This Amendment may be executed in counterparts. 
 [Signature Page Follows] 
  

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 IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the day and year first above
written. 
  

			
	 LAND CLEARANCE FOR
 REDEVELOPMENT AUTHORITY
OF THE
 CITY OF ST. LOUIS, a public body corporate
 and politic
established pursuant to
 Section 99.300 et seq. of the Revised Statues of
 Missouri 2000, as amended

		
	By:	 	 /s/ Rodney Crim

		 	Rodney Crim, Executive Director
	
	 PINNACLE ENTERTAINMENT, INC.,
 a Delaware corporation

		
	By:	 	 /s/ John A. Godfrey

		 	John A. Godfrey, Executive Vice President

 Exhibit A to the Second Amendment to the Redevelopment Agreement 
 [Follows] 

 File No. 554050 
 EXHIBIT A 
 [LEGAL DESCRIPTION]

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