Document:

Exhibit 10.5.1

 

AGREEMENT
GRANTING MOORAGE, DOCKAGE,

BERTHING AND OTHER RIGHTS

 

This Agreement entered
into this day by and between the City of Greenville, Mississippi, a municipal
corporation (“City”), acting by and through The City Council of Greenville, and
Cotton Club of Greenville, Inc., a Mississippi corporation with its
principal place of business in Greenville, Mississippi (“Cotton Club”),

 

WITNESSETH:

 

1.

 

The City of Greenville,
Mississippi, is a municipality in which there is situated a harbor that is a
port of entry. Further, the said City owns the concrete wharf shown as a part
of “Area 1” on the map or plat attached to Exhibit “1” hereto, both said
exhibit and said plat being attached hereto and made a part hereof by
reference. Said concrete wharf and the water fronting on same are situated
within reasonable and practical proximity to said harbor and/or port. The City
has determined that the granting to Cotton Club of Greenville, Inc. of the
rights with respect to said portion of said wharf and the said water fronting
thereon, upon the terms and conditions and with the safeguards herein stated,
is needful for the convenient use of the same in the aid of commerce, for
industrial use, and that said terms, conditions and safeguards are such as will
best promote and protect the public interest. The terms and conditions, and the
monetary moorage and user fees herein stated, have been found by the City to be
adequate and have been

 

 

approved by the City in
an order or resolution authorizing the same.

 

2.

 

Wherefore, premises
considered, City hereby gives and grants unto Cotton Club, upon the terms and
conditions and for the consideration hereinafter set forth, the following
described moorage, dockage, berthing and other rights.

 

3.

 

Cotton Club is hereby
granted and shall have, during the term hereof, the exclusive right to moor,
dock, berth, tie and/or affix a barge, barges and/or other facilities in the
operation of a gaming establishment (including related purposes such as
restaurant and beverage services), but for no other purposes, to the portion of
the City lake front described in Section A of Exhibit “1” which is
attached hereto and incorporated herein by reference, to include the right to
affix cables, walkways, hoses and other facilities thereto, and to exercise all
of the other rights described in said Section A of Exhibit “1”.

 

4.

 

The term of this
Agreement shall commence on the 1st day of April 1993, and end at midnight
on the 31st day of August, 1995. At the expiration of the original term, Cotton
Club shall have the option of three (3) additional five (5) year
option terms, to be renewed automatically, unless written notice of termination
is given to City by Cotton Club sixty (60) days prior to the expiration
date of the then existing term. If Cotton Club shall

 

2

 

permanently cease to
operate a gaming establishment and removes its casino vessel from the
Greenville water front, then, subject to the provisions of paragraph 8, this
Agreement may be terminated by City upon giving 30 days written notice to
Cotton Club. Upon the termination of this Agreement, at City’s election, any
mooring dolphins installed by Cotton Club may either be and become the sole
property of City or Cotton Club may be required by City to remove same at
Cotton Club’s sole cost and expense.

 

5.

 

As moorage and user fees
for the rights herein granted, Cotton Club hereby agrees to pay City the sum of
$900.00 per month payable in advance on the 1st day of April and on the
1st day of each month thereafter during the original term of this Agreement.
Such fees for each option term hereunder shall be subject to a cost of living
increase to be based on the Consumer Price Index using April, 1993 as the base
period.

 

6.

 

As part of the
consideration for this Agreement, Cotton Club may and shall construct and
install utility lines and facilities, and water and sewer lines, to City’s
specifications, on and across the City’s property described in Section B
of Exhibit “1”, and across the levee, and to connect Cotton Club’s gaming
establishment to City’s water and sewer system. Upon completion of said water
and sewer improvements and the approval thereof by City, the said water and
sewer lines shall be conveyed by Cotton Club to City at no cost, and City
agrees to thereafter maintain the same as part of

 

3

 

its water and sewer
system.

 

7.

 

Cotton Club, as a
material part of the consideration herein, hereby waives all claims against
City for damages to goods, equipment or merchandise or other items of personal
property, and for injuries to persons, including death, arising out of Cotton
Club’s exercise of its rights herein granted. Cotton Club hereby agrees to hold
City exempt and harmless from any loss, damage, expense or injury, including
death, to any person, or to the goods, equipment, merchandise or property of
any person or persons arising from the exercise of the rights herein granted by
City. Cotton Club further agrees that it will at all times during the term of
this Agreement or any option term hereunder, at its own expense, carry and
maintain public liability insurance in the limits of not less than
$1,000,000.00 with City named as an additional assured therein, to protect the
City from any and all claims for personal injury, including death, and property
damage which may arise from Cotton Club’s exercise of its rights under this
Agreement. Certificates of such insurance shall be filed with City and shall be
subject to City’s approval.

 

8.

 

Cotton Club shall not
assign its rights under this Agreement, or any portion thereof, or grant
moorage, dockage, berthing or other rights to any third party, without first
obtaining the written consent of City, which consent will not be unreasonably
withheld. Cotton Club hereby agrees and obligates itself in the

 

4

 

exercise of its rights
hereunder to conform to and abide by any rules, regulations, restrictions or
ordinances that are now or may hereafter be imposed or promulgated by City, the
Greenville Port Commission, and/or the Board of Mississippi Levee
Commissioners. Cotton Club further agrees that no illegal activity will be
conducted or permitted in connection with its exercise of its rights hereunder.
It is further understood and agreed that this Agreement is made subject to any
rights of way or easements of the Board of Mississippi Levee Commissioners.

 

9.

 

Any notice(s) hereunder
shall be in writing, and if to Cotton Club, shall be addressed as follows:

 

Cotton Club of Greenville, Inc.

333 Washington Avenue

Greenville, MS 38701

 

and if to the City of
Greenville, shall be addressed as follows:

 

Mayor

City of Greenville 

Post Office Box 897

Greenville, MS 38702-0897

 

10.

 

It is expressly
understood and agreed by the parties hereto that the City gives and grants unto
Cotton Club only such interest as it has the authority to grant, if any, and
City makes no representation, guaranty or warranty whatsoever to Cotton Club as
to City’s authority with respect to the rights herein granted.

 

11.

 

Cotton Club agrees and
acknowledges that, as long as Cotton Club possesses any rights hereunder to any
portion of City owned

 

5

 

property, it will not
discriminate by segregation or, otherwise, against any person or persons
because of race, color, religion, sex, or national origin; also, Cotton Club
shall not refuse to allow the public the use of the facilities herein or
restrict the use of the said property herein including any and all services,
privileges, accommodations, membership, and/or activities to be conducted on
the said premises to any person because of race, color, religion, sex, or
national origin.

 

EXECUTED, this the 1st day of April,
1993.

 

	
   

  	
  COTTON CLUB OF GREENVILLE,
  INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Matthew B. Walker

  
	
   

  	
   

  	
  Matthew B. Walker,
  President

  
	
   

  	
   

  	
   

  
	
   

  	
  CITY OF GREENVILLE,
  MISSISSIPPI

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ C. C. “Frank”

  
	
   

  	
   

  	
  C. C. “Frank” Self,
  Mayor

  

 

STATE OF MISSISSIPPI

COUNTY OF WASHINGTON

 

PERSONALLY APPEARED
BEFORE ME, the undersigned authority in and for the county and state aforesaid,
the within named Matthew B. Walker, President of COTTON CLUB OF GREENVILLE,
INC., a Mississippi corporation, who acknowledged that for and on behalf of
said corporation as its act and deed he signed and delivered the above and
foregoing Agreement on the day and year therein mentioned for the purposes
therein stated, after first being authorized so to do.

 

GIVEN UNDER MY HAND AND
OFFICIAL SEAL, this the 31st day of March, 1993.

 

	
   

  	
  /s/ [ILLEGIBLE]

  
	
   

  	
  Notary Public

  
	
  My Commission Expires:

  	
   

  
	
  4/1/96

  	
   

  

 

6

 

STATE OF MISSISSIPPI

COUNTY OF WASHINGTON

 

PERSONALLY APPEARED
BEFORE ME, the undersigned authority in and for the county and state aforesaid,
the within named C. C. “Frank” Self, who affirmed that he is the Mayor of the
City of Greenville, Mississippi, and that in his capacity as same, he executed
the above and foregoing Agreement for the purposes therein mentioned, he being
duly authorized so to do.

 

GIVEN UNDER MY HAND AND
OFFICIAL SEAL, this the 1st day of April, 1993.

 

	
   

  	
  /s/ [ILLEGIBLE]

  
	
   

  	
  Notary Public

  
	
   

  	
   

  
	
  My Commission Expires:

  	
   

  
	
  My Commission Expires
  February 5, 1996

  	
   

  

 

7

 

SECTION A

 

Moorage, dockage and berthing
rights upon a strip 85 feet in width on Lake Ferguson fronting on the
Greenville City wharf, the north line of said strip being contiguous with the
south line of the present lease granted by the City of Greenville to the
Greenville Yacht Club; the east line being the water’s edge of Lake Ferguson as
it rises and falls; the south line being 85 feet south of and parallel to the
aforementioned Greenville Yacht Club south lease line; and said strip shall
extend in a westerly direction into Lake Ferguson for an adequate distance from
the water’s edge of Lake Ferguson, as it rises and falls, to properly moor,
dock and/or berth the Cotton Club’s gaming casino ship, support vessels and
facilities; all as is shown as “Area 1” on the map or plat attached hereto and
made a part hereof by reference as if fully set out herein.

 

AND ALSO:

 

The grant by the City of
Greenville to Cotton Club of the right and permission to construct, attach and
maintain one or more suitable ingress and egress bridges, or ramps, and utility
lines and facilities, between Cotton Club’s floating facilities and the
Greenville City wharf, as is indicated generally on said map or plat, and
labeled “Bridge”, although it is understood and agreed that the location, size
and configuration of any such bridge or bridges and/or utility lines and
facilities as actually to be constructed are not intended to be shown by said
map or plat and are indicated thereon for purposes of illustration only.

 

AND ALSO:

 

The grant by the City of
Greenville to Cotton Club of the right to construct, install and maintain
mooring dolphins as is generally shown on said map or plat, although it is
understood and agreed that the location, size and configuration of any such
dolphins as actually constructed are not intended to be shown by said map or
plat and the dolphins indicated thereon are for purposes of illustration only.

 

SECTION B

 

A tract of land 210 feet
wide, the south line of which shall be the north edge of the paved City wharf,
the east line of which is the west edge of the access concrete sidewalk into
Schelben Park, the north line of which is 210 feet north of and parallel to the
north edge of the concrete City wharf, and the west line of which is the water’s
edge of lake Ferguson, as it rises and falls, said tract of land being shown as
“Area 2” on the map or plat attached hereto and made a part hereof by reference
as if fully set out herein.Exhibit 10.5.1(A)

 

ASSIGNMENT
OF

AGREEMENT GRANTING MOORAGE

DOCKAGE, BERTHING AND OTHER RIGHTS

 

THIS ASSIGNMENT OF AGREEMENT GRANTING MOORAGE, DOCKAGE,
BERTHING AND OTHER RIGHTS (the “Assignment”) is made effective as of
the 14th day of March, 2002, by and between GREENVILLE CASINO PARTNERS, L.P., a
Mississippi limited partnership, whose address is P.O. Box 1294,
Greenville, MS 38702-1294 (“Assignor”), and JMBS
CASINO LLC, a Mississippi limited liability company, whose address
is 3061 Prestwicke Drive, Edgewood, KY 41017 (“Assignee”) as follows:

 

W  I  T  N
E  S  S  E  T  H:

 

WHEREAS,
the City of
Greenville, Mississippi, a municipality (the “City”) entered into an Agreement
Granting Moorage and other Rights with the Cotton Club of Greenville, Inc.,
a Mississippi corporation (the “Cotton Club”) dated April 1, 1993, as
recorded in Book 1983, Page 591, of the Washington County, Mississippi
land records (the “Agreement”), granting the right to moor certain facilities
in the operation of its gaming establishment within a strip eighty-five
(85) feet in width on Lake Ferguson fronting on the Greenville City Wharf
(the “Property”), more fully described on Exhibit A attached hereto
and incorporated herein; and

 

WHEREAS,
Jubilation
Lakeshore, Inc., f/k/a Cotton Club of Greenville, Inc. assigned its
rights under the Agreement to Alpha Gulf Coast, Inc. by virtue of an
Assignment dated December 11, 1997, recorded in Book 1983, Page 587,
of the Washington County, Mississippi Records; and

 

WHEREAS,
Alpha Gulf Coast, Inc.,
assigned its rights under the Agreement to Greenville Casino Partners, L.P., a
Mississippi limited partnership, by virtue of an Assignment dated March 2,
1998, recorded in Book 1990, Page 555, of the Washington County,
Mississippi Records; and

 

WHEREAS,
Assignor and Assignee
are parties to an Asset Purchase Agreement dated January 26, 2002 (the “Purchase
Agreement”), and pursuant to the Purchase Agreement, the Assignor is required
to assign all of its rights under the Agreement to Assignee.

 

NOW,
THEREFORE, for
good and valuable consideration paid, the receipt and sufficiency of which are
hereby acknowledged, Assignor and Assignee hereby agree as follows:

 

1. Assignor does
hereby assign and convey to Assignee all of Assignor’s right, title and
interest in, to and under the Agreement.

 

2. Assignee hereby
accepts said Assignment and assumes all of the benefits and agrees to perform
all of the obligations of Assignor under the Agreement.

 

3. Assignee in
accepting said Assignment acknowledges that it is familiar with the terms,
provisions and conditions of the Agreement and agrees to fully perform and
abide by all of the terms, provisions and conditions of Assignor thereunder,
all in

 

 

accordance with the terms
hereof and the terms of the Asset Purchase Agreement between Assignor and
Assignee dated January 26, 2002.

 

IN
WITNESS WHEREOF, the
parties have executed this Assignment as of the dates set forth below in their
respective acknowledgments, with this Assignment to be effective March 14,
2002.

 

	
  WITNESSES:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  (As to Assignor)

  	
   

  	
  ASSIGNOR:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  GREENVILLE CASINO
  PARTNERS, L.P.,

  
	
   

  	
   

  	
  a Mississippi limited
  partnership

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ [ILLEGIBLE]

  	
   

  	
  By: 

  	
  /s/ M. J. Jacobson

  
	
  Printed Name:

  	
  [ILLEGIBLE]

  	
   

  	
  Name: 

  	
  M. J. JACOBSON

  
	
   

  	
   

  	
   

  	
  Title: 

  	
  CEO

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  /s/ [ILLEGIBLE]

  	
   

  	
   

  
	
  Printed Name: 

  	
  [ILLEGIBLE]

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  (As to Assignee)

  	
   

  	
   

  	
  ASSIGNEE:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  JMBS CASINO LLC,

  
	
   

  	
   

  	
   

  	
  a Mississippi limited
  liability company

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  /s/ [ILLEGIBLE]

  	
   

  	
  By: 

  	
  /s/ Joseph A. Yung

  
	
  Printed Name: 

  	
  [ILLEGIBLE]

  	
   

  	
   

  	
  Joseph A. Yung, Manager

  
	
   

  	
  /s/ Bill Walker

  	
   

  	
   

  	
   

  
	
  Printed Name: 

  	
  Bill Walker

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  STATE OF MISSISSIPPI

  	
  )

  	
   

  	
   

  
	
   

  	
  )SS:

  	
   

  	
   

  
	
  COUNTY OF

  	
  )

  	
   

  	
   

  
	
  WASHINGTON

  	
   

  	
   

  	
   

  
						

 

The foregoing instrument
was acknowledged before me this 14th day of March, 2002, by M. J. Jacobson, the CEO
of GREENVILLE CASINO PARTNERS, L.P., a
Mississippi limited partnership, on behalf of the partnership, the Assignee in
the foregoing Assignment.

 

	
   

  	
  /s/ [ILLEGIBLE]

  
	
   

  	
  Notary Public

  

 

 

	
   

  	
   

  
	
  STATE OF MISSISSIPPI

  	
  )

  	
   

  
	
   

  	
  )SS:

  	
   

  
	
  COUNTY OF

  	
  )

  	
   

  
	
  WASHINGTON

  	
   

  	
   

  

 

The foregoing instrument
was acknowledged before me this 14th day of March, 2002, by Joseph A. Yung, the
Manger of JMBS CASINO LLC, a
Mississippi limited liability company, on behalf of the company as Assignor in
the foregoing Assignment.

 

	
   

  	
  /s/ [ILLEGIBLE]

  
	
   

  	
  Notary Public

  

 

This instrument prepared
by:

Tedd H. Friedman, Esq.

Katz, Teller, Brant & Hild

2400 Chemed Center

255 East Fifth Street

Cincinnati, Ohio 45202-4724

(513)721-4532

 

KTBH: 514251.1

 

 

Exhibit “A”

 

Parcel 7.4 (Section A)

 

Moorage, dockage and
berthing rights upon a strip 85 feet in width on Lake Ferguson fronting on the
Greenville City wharf, the North line of said strip being contiguous with the
South line of the present lease granted by the City of Greenville to the
Greenville Yacht Club (see Parcel 7.3 above); the East line being the water’s
edge of Lake Ferguson as it rises and falls; the South line being 85 feet South
of and parallel to the aforementioned Greenville Yacht Club South lease line;
and said strip shall extend in a westerly direction into Lake Ferguson for an
adequate distance from the water’s edge of Lake Ferguson, as it rises and
falls, to properly moor, dock and/or berth the Cotton Club’s gaming casino ship
(now Jubilee Casino), support vessels and facilities; all as is shown as “Area
1” on the map or plat attached hereto and made a part hereof by reference as if
fully set out herein.

 

Indexing Instructions:

 

Index under Section 6,
Township 18 North, Range 8 West, Washington County, MS, being that portion
thereof previously described as being parts of Blocks 2 and 5, Original Town
Addition of Greenville, all now lying over the levee.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}]]