Document:

Exhibit 10.9

                              AMENDED AND RESTATED
                      LEASE WITH PURCHASE OPTION AGREEMENT
                                     between
                          WENATCHEE EVENTS CENTER, LLC
                                    (Lessor)

                                       and
                    GREATER WENATCHEE REGIONAL EVENTS CENTER
                           PUBLIC FACILITIES DISTRICT
                                    (Lessee)

                                       and
                                CITY OF WENATCHEE
                                    (Obligor)
                                  May 30, 2007
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                                TABLE OF CONTENTS

                                                                            Page
                                                                            ----

ARTICLE I DEFINITIONS  .......................................................2
1.1    "ADA"..................................................................2
1.2    "Affiliate"............................................................2
1.3    "Agreement"............................................................2
1.4    "Architect"............................................................2
1.5    "Business Day".........................................................2
1.6    "Calendar Year"........................................................2
1.7    "Closing"..............................................................2
1.8    "Closing Date".........................................................2
1.9    "Construction Contract"................................................2
1.10   "Construction Documents"...............................................2
1.11   "Construction Drawings"................................................3
1.12   "Construction Lender"..................................................3
1.13   "Construction Loan"  o.................................................3
1.14   "Contingency"..........................................................3
1.15   "Contract Documents"...................................................3
1.16   "Contract Savings".....................................................3
1.17   "Contractor(s)"........................................................3
1.18   "Design Development"...................................................3
1.19   "Detailed Specifications"..............................................3
1.20   "Drawings".............................................................3
1.21   "Effective Date".......................................................3
1.22   "Environmental Conditions".............................................4
1.23   "Environmental Reports"................................................4
1.24   "Environmental Law"....................................................4
1.25   "Escrow Agent".........................................................4
1.26   "Final Completion Date"................................................4
1.27   "Final Completion of Public Facilities District Improvements
        (or Final Completion)"................................................4
1.28   "General Construction Contract"........................................5
1.29   "General Contractor"...................................................5
1.30   "Hazardous Substances".................................................5
1.31   "Indemnified Parties"..................................................6
1.32   "Land".................................................................6
1.33   "Law"..................................................................6
1.34   "Lease"................................................................6
1.35   "Lease Payment Date"...................................................6
1.36   "Lease Payments".......................................................6
1.37   "Leased Premises"......................................................6
1.38   "Lessee" or "Public Facilities District".......,.......................6
1.39   "Lessee's Architectural Representative"................................7
1.40   "Lessor"...............................................................7
1.41   "Mandatory Improvements"...............................................7
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1.42   "Mediator".............................................................7
1.43   "Permit(s)"............................................................7
1.44   "Permit Allowance".....................................................7
1.45   "Permitted Exceptions".................................................7
1.46   "Person"...............................................................7
1.47   "Personal Property"....................................................7
1.48   "PFD"..................................................................7
1.49   "Project"..............................................................7
1.50   "Project Budget........................................................7
1.51   "Project Requirements".................................................8
1.52   "Project Schedule".....................................................8
1.53   "Property".............................................................8
1.54   "Public Facilities District Improvements"..............................8
1.55   "Punch-list"...........................................................8
1.56   "Real Property"........................................................8
1.57   "Regional Events Center"...............................................8
1.58   "Requirements of Law"..................................................8
1.59   "Savings"..............................................................8
1.60   "Schematic Design Documents"...........................................8
1.61   "Service Contracts"....................................................9
1.62   "Stated Contingency"...................................................9
1.63   "Substantial Completion Date"..........................................9
1.64   "Substantial Completion of Public Facilities District Improvements"....9
1.65   "Substantially Complete" or "Substantially Completed"..................9
1.66   "Taxes"...............................................................10
1.67   "Title Company".......................................................10
1.68   "Title Policy"........................................................10
1.69   "Unavoidable Delay"...................................................10
1.70   "Warranty Period".....................................................10

ARTICLE II GREATER WENATCHEE REGIONAL EVENTS CENTER DEVELOPMENT..............11
2.1    Development of Public Facilities District Improvements................11
2.2    Parking Requirements..................................................11

ARTICLE III DESCRIPTION OF PROPERTY..........................................11
3.1    Agreement to Lease....................................................11
3.2    Agreement to Purchase.................................................11
3.3    Identification of Personal Property...................................12
3.4    Service Contracts.....................................................12
3.5    Ice Rink Fixtures and Equipment.......................................12

ARTICLE IV DUE DILIGENCE.....................................................12
4.1    Project
Information..................................................................12

ARTICLE V CONSTRUCTION OF REGIONAL EVENTS CENTER IMPROVEMENTS................12
5.1    Construction of Public Facilities District Improvements...............12
5.2    [This Section intentionally left blank.]..............................12
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5.3    Schedule for Design and Construction..................................13
5.4    Selection of Development Team for Project.............................13
5.5    Plans and Specifications..............................................13
5.6    Dispute Resolution Process............................................14
5.7    Permits; Costs; Compliance with Legal Requirements....................15
5.8    Construction Contract.................................................15
5.9    Construction of Project...............................................16
5.10   Changes to the Work...................................................17
5.11   Inspections...........................................................17
5.12   Construction Loans....................................................18
5.13   Termination of Agreement..............................................18
5.14   As-Built Plans and Specifications; Manuals; Warranties; Permits
        and Licenses.........................................................18
5.15   Construction Covenants and Warranties.................................18
5.16   Disclaimer............................................................20
5.17   Enforcement of Warranties.............................................21
5.18   Architect's Administration of the Contract............................22
5.19   Project Manager.......................................................22

ARTICLE VI LEASE TERM........................................................22

ARTICLE VII LEASE PAYMENTS...................................................23
7.1    Lease Payments........................................................23
7.2    Additional Rent.......................................................24
7.3    Defeasance............................................................24

ARTICLE VIII USE.............................................................24
8.1    Use of Premises.......................................................24
8.2    Quiet Enjoyment.......................................................25

ARTICLE IX ABSOLUTE NET LEASE................................................25
9.1    Absolute Net Lease....................................................25
9.2    Lease - Non-terminable................................................25
9.3    Taxes and Utility Charges.............................................26
9.4    Compliance with Laws..................................................26
9.5    Lessee's Right to Contest.............................................26

ARTICLE X ENVIRONMENTAL CONDITION OF THE PROPERTY............................27
10.1   Environmental Information.............................................27
10.2   Lessor's Representations and Warranties Regarding Environmental
        Conditions...........................................................27
10.3   Survival..............................................................27
10.4   Supersedure...........................................................27

ARTICLE XI REPRESENTATIONS AND WARRANTIES....................................28
11.1   Lessor's Representations and Warranties...............................28
11.2   Lessee's Representations and Warranties...............................29
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ARTICLE XII POSSESSION.......................................................29

ARTICLE XIII FIRE AND EXTENDED COVERAGE INSURANCE............................30

ARTICLE XIV LIENS............................................................30

ARTICLE XV OPTIONS TO PREPAY LEASE AND PURCHASE LEASED PREMISES..............30
15.1   Option to Purchase....................................................30
15.2   Exercise of Option....................................................31
15.3   Conveyance of Leased Premises.........................................31
15.4   Option to Partially Prepay Lease......................................31
15.3   Option Not Exercised..................................................31
15.6   Title to Real Property................................................31
15.7   Title to Personal Property and Intangible Property....................32

ARTICLE XVI CLOSING..........................................................32
16.1   Closing Procedures....................................................32
16.2   Delivery by Lessor....................................................32
16.3   Delivery by Lessee....................................................34
16.4   Proration's...........................................................34
16.5   Costs and Expenses....................................................34
16.6   Recordation...........................................................35
16.7   Effect of Damage or Destruction of Property...........................35

ARTICLE XVII DESTRUCTION OF LEASED PREMISES..................................35

ARTICLE XVIII DEFAULT; REMEDIES..............................................35
18.1   Corrective Work.......................................................35
18.2   Specific Performance..................................................36
18.3   Waiver................................................................36

ARTICLE XIX MISCELLANEOUS....................................................36
19.1   Incorporation of Recitals; Definitions................................36
19.2   Notices...............................................................36
19.3   Amendment, Waiver, Assignment.........................................37
19.4   Lessee's Disclaimer...................................................38
19.5   Survival..............................................................38
19.6   Captions..............................................................38
19.7   Brokerage Fees........................................................38
19.8   Joint Venture.........................................................38
19.9   Severability..........................................................39
19.10  Further Assurances....................................................39
19.11  Merger of Prior Agreements............................................39
19.12  Fair Construction.....................................................39
19.13  Authority.............................................................39
19.14  Time is of the Essence................................................39
19.15  Arbitration...........................................................39
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19.16  Non-Waiver of Governmental Rights.....................................39
19.17  Agreement for Exclusive Benefit of Lessor and Lessee..................40
19.18  Interest on Past-Due Obligations......................................40
19.19  Governing Law.........................................................40
19.20  Memorandum of Agreement...............................................40

                                    EXHIBITS

Exhibit A    Legal Description of Land -- Regional Events Center Improvements
Exhibit B    Construction Documents for Regional Events Center Improvements
Exhibit C    Legal Description - Ice Rink Property
Exhibit D    Schedule of Fixtures and Equipment
Exhibit E    Project Budget (Revised)
Exhibit F    First Revised Project Schedule
Exhibit G    List of Environmental Reports
Exhibit H    Lease Payments (Revised)
<PAGE>
                                 LEASE AGREEMENT

     THIS  AMENDED  AND  RESTATED  LEASE WTTH  PURCHASE  OPTION  AGREEMENT  (the
"Agreement")  is made and entered into as of this 30th day of May,  2007, by and
between  WENATCHEE EVENTS CENTER,  LLC, a Washington  limited  liability company
("Lessor"),  and GREATER  WENATCHEE  REGIONAL  EVENTS CENTER  PUBLIC  FACILITIES
DISTRICT, a Washington municipal corporation

     ("Lessee" or "Public Facilities  District"),  and the CITY OF WENATCHEE,  a
Washington

     Municipal Corporation ("Obligor") with reference to the following facts:

                                    RECITALS

     A. On June 15, 2006 Lessee was formed by an inter-local agreement to create
a regional (nine-jurisdiction) public facilities district ("PFD").

     B. Lessee is  interested  in  constructing  and  leasing a regional  events
center to be located in Wenatchee.

     C. Lessor is the contract  purchaser pursuant to a real estate purchase and
sale  agreement for the purchase of the real  property  described on Exhibit "A"
which sale shall be closed by purchaser on or before August 1, 2007.  Failure to
close  as set  forth  herein  shall be  deemed a  material  default  subject  to
enforcement pursuant to Article XVIII of this Agreement.

     D. Lessor proposes to design,  develop,  finance,  construct,  complete and
thereafter lease to Lessee a regional events center with associated parking area
to  be  constructed  on  privately   owned  property  of  Lessor  in  Wenatchee,
Washington.

     E. Lessee is  interested in leasing a regional  events  center  facility to
achieve  multiple  public  facilities  district  objectives  including,  but not
limited to, improving the financial  stability and general economic  vitality of
the district,  increasing tax revenues,  creating jobs,  providing  artistic and
cultural  opportunities  and  important  public  spaces for the residents of the
district

     F.  Lessee's  desire to lease the regional  events center is on the express
condition, among others, that construction of the project commence in accordance
with RCW 82.14.390,  not later than February 1, 2007,  which  condition has been
satisfied.

     G.  Lessee  desires  to lease from  Lessor  and Lessor  desires to lease to
Lessee the Property (as  hereinafter  defined) on the terms and  conditions  set
forth herein.

     H. Lessee is authorized by RCW Chapter 35.57 to lease, acquire and transfer
real and personal property,  and intends to finance its lease or purchase of the
regional events center facility and associated parking area with the proceeds of
tax exempt financing, to be repaid in part with sales taxes received pursuant to
RCW Chapter 82.14.
<PAGE>
     I. BBP Two, TLC was  originally  identified  as Lessor in the September 28,
2006 original  Lease  Agreement.  This Amended and Restated  Lease with Purchase
Option  Agreement  is  entered  into as a  replacement  for the  original  Lease
Agreement which has been terminated by mutual  agreement of BBP Two, LLC and the
Public Facilities District.

     NOW,  THEREFORE,  in consideration of the mutual covenants,  conditions and
provisions contained herein, and for other good and valuable consideration,  the
receipt and  sufficiency of which is hereby mutually  acknowledged,  the parties
agree as follows:

                                 ARTICLE I
                                DEFINITIONS

     As used in this Agreement,  the following  capitalized terms shall have the
following meanings:

     1.1 "ADA" means the  Americans  With  Disabilities  Act of 1990,  42 U.S.C.
Section 1201, et seq., as amended from time to time.

      1.2 "Affiliate" means any Person or entity related to, owned by, in common
ownership with or affiliated with a person or entity that is a parent company or
constituting  a shareholder or member of a person or in which such Person has or
holds an equity or other interest.

     1.3 "Agreement"  means this Amended and Restated Lease With Purchase Option
Agreement,  as the same may be amended,  supplemented  or modified  from time to
time.

      1.4 "Architect"  means Sink Combs Dethlefs  Architects,  collectively,  or
such other architect licensed to practice in the State of Washington as may from
time to time be hired by Lessor in  connection  with the design of the  Regional
Events Center Improvements.

     1.5  "Business  Day" means any day other than a  Saturday,  Sunday or legal
holiday that Lessee's offices are open.

     1.6  "Calendar  Year" means a calendar year  commencing  with January 1 and
ending with December 31.

     1.7 "Closing" means the delivery of documents and funds to the Escrow Agent
with appropriate instructions that are necessary for the completion of the lease
and/or  purchase of the Property in accordance  with the terms and conditions of
this Agreement.

     1.8 "Closing Date" means the date on which the Closing occurs.

     1.9  "Construction  Contract" means the General  Construction  Contract for
construction  services entered into by Lessor, and the General  Contractor,  for
construction of the Public Facilities District Improvements.

     1.10  "Construction  Documents" means the Final Public Facilities  District
approved Construction Drawings and related Project Manual, inclusive of Division
1 General

                                       2
<PAGE>
     Requirements and Technical Divisions 2 through 14 for the Public Facilities
District  Improvements approved by Lessor and Lessee for the construction of the
Public  Facilities   District   Improvements,   including   technical  drawings,
schedules,  diagrams,  plans and  specifications  setting  forth in  detail  the
requirements for construction, itemization of furniture, fixtures, equipment and
furnishings to be installed and providing  information  customarily required for
the  use of the  building  trades  and the  general  construction  contract  for
construction of the Public Facilities  District  Improvements.  The Construction
Documents  shall be revised to reflect the Project as  described  in the Project
Budget (revised), Exhibit "E" to this Agreement

     1.11  "Construction  Drawings"  means Drawings  setting forth in detail the
requirements   for  the   construction   of  the  Public   Facilities   District
Improvements.

     1.12 "Construction Lender" means the financial lending institution selected
by the Lessor.

     1.13 "Construction Loan" means a loan obtained from the Construction Lender
for the purpose of paying Project construction costs. o

     1.14 "Contingency" means Stated Contingency and Design Contingency.

     1.15  "Contract  Documents"  means the documents  identified in the General
Construction Contract as "contract documents."

     1.16 "Contract  Savings" means the amount,  if any, by which a bid accepted
for each major subcontract element identified in the Project Budget is less than
the amount for the major  subcontract  element in the Project  Budget,  plus the
amount of unused  Stated  Contingency  as of the Final  Completion of the Public
Facilities District Improvements.

     1.17   "Contractor(s)"   means  the  General   Contractor   and  any  other
construction  contractors  with whom Lessor contracts for construction of all or
any portion of the Project

     1.18  "Design  Development"  means  that  phase of  design  of the  Project
providing for development of plans and specifications for the Project based upon
the  Schematic  Design  Documents;  as such term is generally  understood in the
construction industry.

     1.19 "Detailed  Specifications"  means the Final Public Facilities District
approved written detailed  requirements for materials,  equipment,  construction
systems, standards and workmanship for the construction of the Project as issued
by the Architect as Final Construction Documents for the Project.

     1.20  "Drawings"  means all graphic and pictorial  documents  depicting the
design,  location  and  dimensions  of the  elements  of the  Public  Facilities
District  Improvements  and also include  itemization  of  furniture,  fixtures,
equipment  and  furnishings  to be  installed  and  include  plans,  elevations,
sections,  details,  schedules and diagrams for the Public  Facilities  District
Improvements.

     1.21  "Effective  Date" means the date this Lease was  entered  into as set
forth above.

                                       3
<PAGE>
     1.22 "Environmental  Conditions" means conditions involving the presence of
Hazardous Substances in soil, surface waters, groundwater and sediments.

     1.23  "Environmental  Reports"  means all  environmental  reports,  audits,
sampling  results  and other  information  in  Lessor's  possession  or  control
regarding the Environmental Conditions, a complete listing of which is set forth
on Exhibit G attached to this Agreement.

     1.24  "Environmental Law" means, as amended from time to time, local, state
or  federal  laws,  rules,  ordinances,   regulations,  applicable  permits  and
applicable  orders now or hereafter  enacted  relating to (a) the  protection of
human health or the environment or (b) the use, storage, generation, production,
treatment,  emission, discharge,  remediation,  removal or disposal of Hazardous
Substances;   including,   without   limitation,   the   Federal   Comprehensive
Environmental  Response  Compensation,  and  Liability  Act of 1980,  42  U.S.C.
Section 9601 et 02., and the  Washington  Model Taxies  Control Act, RCW Chapter
70.105D.

     1.25 "Escrow  Agent'  means First  American  Title  Insurance  Company,  or
another nationally recognized title insurance company selected by Lessor and not
objected to by Lessee  which shall act as the escrow agent and provide the title
insurance policies to be delivered in connection with the Closing.

     1.26 "Final  Completion  Date" means total  Project  will be  substantially
complete not later than September 17, 2008.

     1.27 'Final Completion of Public Facilities District Improvements (or Final
Completion)" means the date by which the following events have occurred:

     (a)  Certificate  of Occupancy.  The City of Wenatchee  shall have issued a
final unconditional  certificate of occupancy for the Public Facilities District
Improvements  permitting their use and occupancy as a regional events center and
it is available for occupancy and normal operations.

     (b)  Contractor's  Certification.  The  contractor  shall  have  issued its
"Certificate  of  Substantial  Completion"  for the Public  Facilities  District
Improvements  together  with its  Affidavit of Payment of Debts and Claims,  AIA
Forms 706 and 706A  together  with final  waivers  and  releases of lien in form
satisfactory  to Lessee  from  such  material  men,  laborers,  contractors  and
subcontractors as Lessee may require.

     (c) Punch-list Items  Completed.  Following  Substantial  Completion of the
Public Facilities District Improvements,  Lessor, the Architect and Lessee shall
prepare a  Punch-list  for the  Public  Facilities  District  Improvements.  All
Punch-list items for the Public Facilities District Improvements shall have been
completed to the reasonable  satisfaction  of Lessee,  or if not completed,  the
parties  shall have  agreed  upon a holdback  of 150% of the cost  estimated  by
Lessee to complete the Punch-list items.

     (d)   Construction   Lessor  shall  have   provided   evidence   reasonably
satisfactory  to Lessee that all  construction  costs for the Public  Facilities
District  Improvements have been paid in full including evidence of full payment
for any Personal Property.  The issuance of the Title Policy insuring the Lessee

                                       4
<PAGE>
against any material or labor liens and the submission of invoices with evidence
of payment by Lessor  shall be evidence  acceptable  to Lessee of the payment of
all construction costs.

     (e) No Construction Liens. The period for filing construction liens for the
Public  Facilities  District  Improvements  shall have  expired or  releases  or
discharges of  construction  liens in form and substance  satisfactory to Lessee
have been  obtained  by the  contractor  in  accordance  with the  articles  and
conditions  of the  construction  contract  for the Public  Facilities  District
Improvements.

     (f) As-Built Plans and  Specifications.  Lessor shall have provided  Lessee
with a complete and detailed set of "as-built" plans and  specifications for the
Project (to be provided on CAD or other format  satisfactory to Lessee) together
with all technical,  service,  instruction  and procedure  manuals,  warranties,
permits and licenses and an as- built  survey of the Real  Property  showing all
improvements located thereon.

     1.28 "General Construction Contract" means the agreement between the Lessor
and the General  Contractor;  for construction of the Public Facilities District
Improvements.

     1.29 "General  Contractor" means Hunt  Construction  Group or other General
Contractor as selected by the Lessor.

     1.30 "Hazardous Substances" means:

     (a)  Those  substances   included  within  the  definitions  of  "hazardous
substances,"  "hazardous materials," "toxic substances," or "solid waste" in the
Federal Resource  Conservation and Recovery Act of 1976, 42 U.S.C.  Section 6901
et  the  Federal  .Comprehensive  Environmental  Response,   Compensation,   and
Liability  act of 1980, 42 U.S.C.  Section 9601 et mg., the Hazardous  Materials
Transportation  Act, 49 U.S.C.  Section 1801, et and the Toxic Substance Control
Act, 15 U.S.C. Section 2601 et seq., and in the regulations promulgated pursuant
to said laws, all as amended from time to time;

     (b) Those substances defined as "dangerous  wastes,"  "hazardous wastes" or
as "hazardous substances" under the Water Pollution Control Act, RCW 9048.010 et
seq.,  the  Hazardous  Waste  Management  Statute,  RCW  70.105.010  et mi., the
Washington  Toxic Substance  Control Act RCW 70.1058.010 et seq., the Washington
Model Toxics  Control  Act, RCW  70.105D.010  et seq.,  and the Toxic  Substance
Control Act, 15 U.S .C. Section 2601 et seq., and in the regulations promulgated
pursuant to said laws, all as amended from time to time;

     (c)  Those   substances   listed  in  the  United   States   Department  of
Transportation  Table (49  C.F.R.  172.101  and  amendments  thereto)  or by the
Environmental   Protection   Agency  (or  any  successor  agency)  as  hazardous
substances (40 C.F.R. Part 302 and amendments thereto);

     (d) Storm water discharge regulated under any federal,  state or local law,
ordinance  or  regulation  relating to storm water  drains,  including,  but not
limited to,  Section  402(p) of the Clean Water Act, 33 U.S.C.  Section 1342 and
the regulations promulgated hereunder, all as amended from time to time.

                                       5
<PAGE>
     (e) Such other  substances,  material  and wastes  which are  dangerous  or
injurious to human health or become regulated under applicable  local,  state or
federal  law,  or the  United  States  government,  or which are  classified  as
hazardous or toxic under  federal,  state or local laws or  regulations,  all as
amended from time to time,  or which are deemed  dangerous or injurious to human
health; and

     (f) Any material,  waste or substance which is (A) petroleum, (B) asbestos,
(C)  polychlorinated  biphenyls,  (D)  designated  as  a  "hazardous  substance"
pursuant to Section 311 of the Clean Water Act, 33 U.S.C.  Section  1251, et gm.
(33 U.S.C.  Section  1321) or listed  pursuant to Section 307 of the Clean Water
Act (33 U.S.C. Section 1317), (E) flammable explosives,  (F) radon gas, (0) lead
or lead-based paint, (H) radioactive materials, (1) coal combustion by-products,
(J) urea  formaldehyde  foam insulation,  or (K) mold. Mold includes any form of
multicellular  fungi  that  live  on  plant  or  animal  matter  and  in  indoor
environments.

     1.31  "Indemnified  Parties"  means Lessee and its  successors and assigns,
including  any Person who acquires  all or any part of the Real  Property by any
sale,  assignment,  deed-in-lieu  of  foreclosure  under  any  deed of  trust on
Lessee's interest in the Real Property, or otherwise.

     1.32  "Land"  means  that  certain  real  property  located  in the City of
Wenatchee,  Chelan County, Washington,  more particularly described in Exhibit A
attached hereto and by this reference incorporated herein.

     1.33 "Law" means any constitution,  statute, ordinance,  regulation,  rule,
resolution, judicial decision,  administrative order or other requirement of any
federal,  state,  county,  municipal or other  governmental  agency or authority
having jurisdiction over the parties or the Property,  or both, in effect either
at the time of  execution  of this  Agreement  or at any time during the term of
this Agreement, including without limitation, any regulation or order of a quasi
official entity or body (e.g. board of fire examiners,  public utilities, design
review boards or hearing  examiners);  all rules,  laws and regulations  arising
under  Title 111 of the  Americans  with  Disabilities  Act and the  regulations
issued hereunder by the United States Department of Justice.

     1.34 "Lease" means this Lease by and between Lessor and Lessee.

     1.35  "Lease  Payment  Date"  means  commencing   thirty  (30)  days  after
substantial  Completion Date,  either (i) if certificates of  participation  are
issued as provided in Exhibit H, principal payments shall be due each December 1
and  interest  payments  shall  be due each  June 1 and  December  1 during  the
remaining term of the Lease, or (ii) if certificates  of  participation  are not
issued  as  provided  in  Exhibit  H, the  first day of each  month  during  the
remaining term of the Lease.

     1.36 "Lease Payments" means as provided in Exhibit H.

     1.37 "Leased Premises" means the Land together with the Improvements.

     1.38  "Lessee or  "Public  Facilities  District"  means  Greater  Wenatchee
Regional  Events  Center  Public  Facilities  District;  a Washington  municipal
corporation.

                                       6
<PAGE>
     1.39 "Lessee's Architectural  Representative" means Robert Knowles, or such
other  Person as may be  designated  by Lessee to Lessor in writing nuns time to
time.

     1.40 "Lessor"  means  Wenatchee  Events  Center,  LW, a Washington  limited
liability company.

     1.41 "Mandatory Improvements" means those improvements that are part of the
Project and are described in the Construction Documents.

     1.42  "Mediator"  means a natural person not employed by Lessor,  Lessee or
any affiliate or  subsidiary of either of them who shall also be a  professional
mediator  with at least five (5) years  experience  in complex  commercial  real
estate  disputes  approved  by Lessor and Lessee  whom  Lessee and Lessor  shall
mutually  designate  to act as a  dispute'  resolution  mediator  to  assist  in
resolution of such dispute pursuant to Section 5.6 below.

     1.43 "Permit(s)" has the meaning stated in Section 5.15(b) below.

     1.44 "Permit  Allowance"  means the sum of  Seventy-Five  Thousand  Dollars
($75,000.00),  which  amount  is  included  within  the  Lease  Payments  as the
anticipated cost to be Incurred by Lessor in obtaining permits and licenses from
the applicable regulatory agencies required to construct the Project.

     1.45  "Permitted  Exceptions"  has the  meaning  set forth in Section  15.6
below.

     1.46 "Person"  means a natural  person,  corporation,  trust,  partnership,
limited  partnership,  Limited  Liability  Company,  government  subdivision  or
agency, Municipal Corporation, city or other legal entity.

     1.47 "Personal  Property" means all personal  property  located on or in or
used in connection  with the Public  Facilities  District  Improvements or which
will be Stalled or incorporated into the Public Facilities District Improvements
as part of the  Project  including  but not  limited to those  items of personal
property identified in the Detailed Specifications.

     1.48 "PFD" means that certain inter-local  agreement approved June 15, 2006
to create a regional public facilities district.

     1.49  "Project"  means the total  design,  development,  and  construction,
including  all  professional  design  services,  and all  labor,  materials  and
equipment used or  incorporated in the design,  development and  construction of
the Public Facilities District Improvements,  all as more fully described in the
Schematic Design  Documents.  The Project shall include work consistent with and
reasonably  inferable from the approved Project  Requirements as being necessary
to produce  the  intended  results and all work  necessary  to render the Public
Facilities District Improvements fully operational.

     1.50 "Project Budget" means the budget for the development and construction
of the Project  approved  by Lessee and  Lessor,  a copy of which is attached to
this Agreement as Exhibit E.

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<PAGE>
     1.51 "Project  Requirements" means the Construction  Documents and Detailed
Specifications  and as issued by the  Architect  and as  otherwise  specifically
agreed to by Lessor and Lessee.

     1.52 "Project Schedule" means the schedule for design, development, repair,
renovation  and  construction  of the  Project as  revised  from time to time by
Lessor and lessee.  The First Revised Project Schedule is set forth in Exhibit F
attached hereto and by this reference incorporated herein.

     1.53  "Property"  means  the  Real  Property,  Personal  Property,  Service
Contracts,  and other  items to be  leased,  sold and  transferred  to Lessee as
described in Section 3.1 below.

     1.54 "Public Facilities  District  Improvements"  means the Regional Events
Center and associated facilities.

     1.55 '2,Ea" means a list of items  required to be completed  prior to Final
Completion that are minor items which do not affect Lessee's  ability to use the
Public Facilities District Improvements for their intended use.

     1.56  "Real  Property"  means the Land and the Public  Facilities  District
Improvements,  together with all rights, privileges, easements and appurtenances
thereto.

     1.57 "Regional Events Center" means a multi-purpose  event center facility,
consisting of a total of approximately  161,000 square feet, which shall include
a main arena, a practice ice facility,  exhibition and meeting rooms, restaurant
and food service facilities,  team changing and showering rooms, viewing suites,
offices, media and broadcasting suites, and technical support areas, and related
support facilities including service areas, sidewalks, public stairs, corridors,
hallways,  lobbies,  public restrooms,  retail space,  loading dock, storage and
administrative  spaces and on-site  parking  area.  The main arena fixed seating
capacity shall be  approximately  4,300 with a maximum variable seating capacity
of approximately 5,600 for certain event configurations.

     1.58  "Requirements  of Law" means all  requirements  relating  to land and
building  construction  (including  those  specifically  applicable  to Lessee's
contemplated use of the Public  Facilities  District  Improvements),  including,
without limitation,  planning, zoning, public works and procurement,  prevailing
wage,  subdivision,  environmental,  air quality, flood hazard, fire safety, the
Americans  with  Disabilities  Act and other  governmental  approvals,  permits,
licenses  and/or  certificates  as may be necessary  from time to time to comply
with  all  the  foregoing  and  other  applicable   statutes,   rules,   orders,
regulations, laws, ordinances, and covenants, conditions and restrictions, which
now apply to and/or  affect the design,  construction,  existence,  intended use
operation  and/or  occupancy  of the  Real  Property,  the  Project  or any part
thereof.

     1.59  "Savings"  means  the  amount  equal to eighty  percent  (80%) of the
Contract Savings, as defined in Section 1.16.

     1.60 "Schematic  Design  Documents"  means the  Construction  Documents and
other documents  illustrating  the scale and relationship of the Regional Events
Center and its various  components  including,  but not  limited to,  furniture,

                                       8
<PAGE>
furnishings and equipment,  sidewalks, lighting, landscaping and other ancillary
improvements.  The Schematic  Design  Documents  shall include a conceptual site
plan  and  preliminary  building  plans,   sections,   elevations  and  Detailed
Specifications.

     1.61  "Service  Contacts"  means  all  architectural  drawings,  plans  and
specifications,  consulting  agreements,  engineer's reports,  design contracts,
utility  contracts,  water and sewer service  contracts,  other contracts of any
nature, maintenance contracts, management contracts,  certificates of occupancy,
warranties,  permits, licenses,  approvals, soil reports, and other contracts or
documents of any nature  relating to the Project entered into by Lessor pursuant
to the provisions of this Agreement.

     1.62 "Stated  Contingency"  means the amount of $500,000  identified as the
general  contingency  in the  Project  Budget  which  may be used in the  manner
described in Section 5.10(6) of this Agreement.

     1.63  "Substantial  Completion  Date"  means the date on which  Substantial
Completion of the Public Facilities District Improvements has occurred.

     1.64 "Substantial  Completion of Public Facilities  District  Improvements"
means the date on which the following events have occurred:

     (a)   Completion   of   Construction.   The  Regional   Events   Center  is
SubstantiallyComplete.

     (b)  Architect's  Certification.   The  Architect  shall  have  issued  its
"Certificate  of  Substantial  Completion  ALA Document  0704," stating that the
construction of the Public  Facilities  District  Improvements is  substantially
completed in strict accordance with the o Construction Documents.

     (c)  Certificate  of Occupancy  The City of  Wenatchee  shall have issued a
temporary   certificate  of  occupancy  for  the  Public   Facilities   District
Improvements permitting the use and occupancy of the Regional Events Center as a
multi-purpose regional events center.

     (d)  Lessee  Acceptance.  Lessee  shall  have  confirmed  that  the  Public
Facilities  District  Improvements have been completed in strict accordance with
the Construction Documents subject to completion of normal punch-list items.

     (e)  Fixtures  and  Equipment.  All  furniture,  furnishings,  fixtures and
equipment  specified in the  Construction  Documents  for the Public  Facilities
District Improvements or required for the operation of a multi-purpose  regional
events center under  applicable  law have been installed and are in good working
order, condition and repair.

     (f) And shall be no later than September 17, 2008.

     1.65 "Substantially  Complete" or "Substantially  Completed" means, for the
Public Facilities  District  Improvements,  that the Public Facilities  District
Improvements   have  been   constructed  in  substantial   accordance  with  the
Construction Documents and (a) all elements 'required for the functioning of the
Public Facilities District Improvements shall be operational and in good working

                                       9
<PAGE>
order  and  condition  including,  but not  limited  to,  satisfying  applicable
Requirements  of Law; (b) the Regional  Events Center shall be weather tight and
waterproof;  (c) the fire and life safety  systems  within the  Regional  Events
Center  shall be  operational  and in good  working  order  and  condition;  (d)
elevators shall operate and function in good working order and condition but may
still  require  touch up  installation  and  cleaning;  (e) the  mechanical  and
electrical  systems,  including the HVAC system shall be individually tested and
in good working order able to support the Regional  Events Center and shall also
be tested to assure  that the  Regional  Events  Center  systems  operate  on an
integrated  basis,  but the HVAC system may still require final  balancing work;
(f) the finish work is substantially completed, including but not limited to any
public lobbies, decks, patios,  elevators,  restrooms,  HVAC, plumbing, fire and
life safety,  sprinkler and electrical systems,  doors,  partitions,  cabinetry,
floor coverings,  including removal of all construction debris; (g) the computer
system for the Regional  Events Center has been  installed and is operational in
accordance  with  the  applicable   specifications;   (h)  all  site  utilities,
sidewalks,  driveways, street improvements,  public spaces, landscaping,  street
furniture,   fencing,  and  lighting  have  been  substantially   completed  and
construction  barricades  and  equipment  have been  removed;  (i) all lighting,
furniture,  furnishings,  fixtures  and  equipment  have been  installed  in the
Regional Events Center;  except in each case minor punch list items which do not
materially  affect  use  and  occupancy  of  the  Regional  Events  Center  as a
first-class multi-purpose regional events center;

     1.66  "Taxes"  means all real  property  taxes and  assessments  (including
assessments  for special  improvements),  license and permit  fees,  charges for
public utilities, leasehold excise taxes, other excise taxes, levies, sales, use
and occupancy  taxes, and any taxes levied or assessed in addition to or in lieu
of, in whole or in part, such taxes,  assessments or other charges and all other
governmental  impositions  and  charges of every kind and  nature,  general  and
special, ordinary and extraordinary, foreseen and unforeseen of every character.

     1.67 "Tide Company" means First American Tide Insurance Company, or another
nationally  recognized  title  insurance  company  selected  by Lessor,  and not
objected to by Lessee,  which will be issuing the title  insurance  policy to be
issued at the Closing.

     1.68 "Title Policy" has the meaning set forth in Section 15.6 below.

     1.69 "Unavoidable Delay" means, with respect to a party,  strikes,  acts of
God,  unavoidable  casualties and similar events beyond the control of the party
which,  after the exercise of due  diligence  to mitigate  the effects  thereof,
delay construction of the Public Facilities District Improvements. Delay or work
stoppage  caused by appeals of permits  issued by the City of Wenatchee or other
municipal  agencies and necessary to authorize the  construction  of the Project
shall  constitute  Unavoidable  Delay.  The inability to obtain  construction or
other  financing  to pay for all or any portion of the  Project  Costs shall not
constitute  Unavoidable  Delay.  Lessor shall provide  written  notice to Lessee
within ten days of the date it becomes aware,  or should have become aware, of a
condition resulting in an unavoidable delay.

     1.70 "Warranty  Period" means that period commencing on Final Completion of
Public  Facilities  District  Improvements and expiring one (1) year thereafter.
Notwithstanding  the foregoing,  if any longer  warranty or guarantee  period is
specified for any particular equipment,  materials,  structural component of the

                                       10
<PAGE>
Project (including,  but not limited to skylights and roof) or workmanship under
this Agreement or any contract in connection  with the design,  development,  or
construction  of the Project,  the longer  warranty  period or guarantee  period
shall govern.  Lessor shall convey to Lessee such  warranties with the Operation
and Maintenance Manuals.

                                   ARTICLE II
              GREATER WENATCHEE REGIONAL EVENTS CENTER DEVELOPMENT

     2.1  Development of Public  Facilities  District  Improvements.  Lessor has
acquired or intends to acquire fee title to the Land.  Lessor shall construct on
the Land, the Public  Facilities  District  Improvements.  The Public Facilities
District  Improvements and certain personal property to be located on or used in
connection  with  the  Public   Facilities   District   Improvements   are  more
particularly  described in the Schematic Design Documents prepared by Lessor and
approved by Lessee,  a copy of which is attached hereto as Exhibit B and by this
reference incorporated herein.

     2.2 Parking Requirements.  The Project includes 600 On-Site Parking Stalls.
The Lessee will provide the remainder of the required  parking  stalls  off-site
through shared parking  agreements with  surrounding  property owners to satisfy
local code requirements to obtain a certificate of occupancy. At Closing, Lessor
shall assign to Lessee all of Lessor's  right,  title and interest in and to the
On-Site Parking Facilities at no additional cost to Lessee.

                                   ARTICLE III
                             DESCRIPTION OF PROPERTY

     3.1 Agreement to Lease.  Lessor hereby agrees to lease to Lessee and Lessee
hereby  agrees to lease from  Lessor,  subject to the terms and  conditions  set
forth in this Agreement, the following upon Final Completion of the Project:

     (a) The Land and Public Facilities District Improvements (Leased Premises);

     (b) Fixtures and equipment, shown on Exhibit D.

     3.2  Agreement  to  Purchase.  Lessor  hereby  agrees to sell to Lessee and
Lessee agrees to purchase from Lessor  provided  Lessee  exercises its option to
purchase:

     (a) All interest of Lessor in any  intangible  personal  property  owned by
Lessor and used in  connection  with the  ownership,  use and  operation  of the
Project;  and,  to the extent the same are  approved  by Lessee  pursuant to the
provisions  of  this  Agreement,   any  and  all  contracts  and  lease  rights,
warranties,  guarantees,  agreements,  licenses and other rights relating to the
ownership,  use or operation of all or any part of the Property,  including, but
not limited to any warranty or other right under the Construction  Contract, all
of Lessor's rights under the Contract  Documents,  and all of Lessor's rights in
the Construction Documents; and

     (b) All Service Contracts.

                                       11
<PAGE>
     3.3  Identifications  of Personal  Property.  Upon Final  Completion of the
Project and in any event no later than thirty (30) days prior to Closing, Lessor
and Lessee shall identify all Personal Property, including any personal property
identified in the Detailed Specifications.

     3.4 Service  Contracts.  Lessee  specifically  acknowledges and agrees that
Service  Contacts  do not  include any  architectural  agreements,  construction
contracts,   subcontracts,  or  other  agreements  relating  to  the  design  or
construction  of the  Project,  except  for  the  assignment  of any  warranties
contained  therein  to Lessee  upon  Closing  pursuant  to  Article  XVI of this
Agreement

     3.5 Ice Rink  Fixtures and  Equipment.  Lessee or Obligor,  as a portion of
Obligor's local match required by RCW 82.14.390(4), and as partial consideration
for Lessor's obligations hereunder,  agrees,  following completion of the 2007 -
2008 ice arena season, to convey to Lessor the following fixtures and equipment,
currently  located on the Ice Rink Property,  legally described in Exhibit C, to
be  incorporated  into the Leased  Premises:  Heating and cooling units,  dasher
boards  and  glass,  floor  coverings,  hockey  goals and  netting,  scoreboard,
bleachers,  and Zamboni.  This  conveyance is  conditioned  upon Lessor being in
substantial compliance with the Project Schedule, Exhibit F.

                                   ARTICLE IV
                                  DUE DILIGENCE

     4.1 Project Information.

     (a) Lessee  acknowledges  that, prior to the Effective Date, Lessee has had
the opportunity to prepare, review and copy all studies relating to the Property
and  Project  that Lessee has  determined,  in the  exercise  of its  reasonable
business  judgment,  are  necessary for Lessee to evaluate the  suitability  and
feasibility of the Property and the Project for Lessee's intended uses.

     (b) Lessor  acknowledges  that, prior to the Effective Date, Lessor has had
the  opportunity  to detente  the  availability  of the  permits  and  financing
necessary to construct and complete the Project,  and otherwise satisfy Lessor's
obligation under this Agreement

                                    ARTICLE V
               CONSTRUCTION OF REGIONAL EVENTS CENTER IMPROVEMENTS

     5.1 Construction of Public Facilities District Improvements.  Lessor agrees
to diligently  design,  construct,  and complete the Public Facilities  District
Improvements  on the Property on or before the Substantial  Completion  Date, at
Lessor's sole cost and expense, in a good and workmanlike manner, free and clear
of all  liens,  all in  accordance  with  the  terms of this  Agreement  and all
Requirements of Law.

     5.2 (This Section intentionally left blank.

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<PAGE>
     5.3 Schedule for Design and Construction. Lessor and Lessee acknowledge and
agree that the  initial  Project  Schedule  attached  hereto as Exhibit F, shall
govern the performance of the work.

     5.4  Selection of  Development  Team for Project.  Lessor has or intends to
employ the following Persons in connection with the Project:

     (i)    Architect Sink Combs Dethlefs Architects

     (ii)   General Contractor: Hunt Construction Group

     (iii)  Project Manager: International Coliseums Company (ICC)

     (iv)   Structural Engineers: Martin/Martin Consulting Engineers

     (v)    Land Surveyors: Munson Engineers

     (vi)   Mechanical Design Building Engineers: M-E Engineers. Inc.

     (vii)  Geotechnical Engineers: Nelson Geotechnical Associates. Inc.

     (viii) Environmental Consultants: Cascade Earth Sciences

     (ix)   Electrical Design Engineers: M-E Engineers. Inc.

     (x)    Traffic Consultant: Heffron Transportation. Inc.

     (xi)   Civil Engineer: Pacific Engineering and Design

     Lessor shall select other  professionals  as necessary or desirable for the
design,  permitting,  development mid construction of the Project.  Lessor shall
pay all amounts payable to the design professionals outlined above and any other
professionals hereinafter engaged by Lessor in commotion with the performance of
its duties and responsibilities under this Agreement Lessor shall enter into all
contracts  for the  design,  permitting,  development  and  construction  of the
Project.

     5.5 Plans and Specifications.

     (a) Schematic Design  Documents.  As of the date of this Agreement,  Lessee
has reviewed and approved the Project Requirements,  which are incorporated into
the  Schematic  Design  Documents  listed  on  Exhibit B to this  Agreement.  In
addition,  Lessee has reviewed and approved the Project  Budget setting forth an
itemization  of the major  components of the Project that will be constructed by
subcontractors and including the Design Contingency and Stated Contingency. Upon
execution of this Agreement,  Lessor shall,  in conjunction  with the Architect,
commence and complete  Design  Development,  Construction  Drawings.  and permit
applications  necessary for the construction of the Public  Facilities  District
Improvements.

     (b) Lessee's Review.  Following  execution of this Agreement,  Lessor shall
cause  Architect  to  prepare  Design  Development  Drawings,   which  shall  be
consistent  with the  Schematic  Design  Documents in all material  respects and
shall  submit  the  Design  Development  Drawings  to Lessee  for its review and
approval.  Following approval of the Design Development  Drawings,  Lessor shall
cause  Architect  to  prepare   Construction   Documents   consistent  with  the
Lessee-approved   Design  Development  Drawings,  and  submit  the  Construction
Documents  to  Lessee  for  its  review  and  approval.  Following  approval  of

                                       13
<PAGE>
Construction  Documents,  Lessor shall deliver Lessee an updated  Project Budget
prepared by Lessor on the basis of the approved Construction  Documents.  Lessee
shall give Lessor  written notice within thirty (30) days following the later of
its receipt of the Design Development Drawings and Construction Drawings, as the
case may be, of Lessee's  approval or  disapproval,  which notice shall,  in the
case of disapproval,  specify Lessee's reason for disapproval. Lessee shall only
disapprove Design  Development  Drawings and Construction  Drawings which (i) do
not comply with all Requirements of Law, (ii) fail to materially comply with the
Schematic  Design   Documents,(iii)   propose  changes  in  the  size,  quality,
appearance,   layout  or  configuration  of  the  Public   Facilities   District
Improvements  contemplated  by the  Schematic  Design  Documents,  (iv)adversely
impact  the   construction   schedule   for  the  Public   Facilities   District
Improvements, or (v) increase the project budget.

     (c)  Resubmittals.  If  objections  or comments are submitted in writing in
accordance  with the  preceding  paragraph,  Lessor shall cause the Architect to
make  changes in the  plans,  drawings  and/or  specifications  consistent  with
objections  or  comments  made by the  Lessee  and  shall  resubmit  the same in
accordance  with the  foregoing  schedule  for  further  review.  The process of
resubmittal  and review shall continue until Lessee and Lessor have approved the
Design Development Drawings and Construction Documents.

     (d) Permit and Working Drawings. Lessor shall cause the Architect and other
design  professionals  to prepare any Drawings or other documents in addition to
the Construction Documents that may be required to be submitted for the issuance
of building permits and other permit applications in accordance with Section 5.7
hereof,  and as  required  for  construction  of  the  Project  by  the  General
Contractor.

     (e) Value  Engineering.  "The Lessor shall have the right to value engineer
and propose changes to the Design  Specifications  1.23 and the Drawings 1.24 in
order to keep this project within the Project budget. The value engineering must
be  consistent  with the  integrity  and scope of the project as outlined in the
schematic drawings and detailed specifications, be within reasonable engineering
standards, and have no adverse effect on the functionality, aesthetics, and long
term operating and maintenance  costs. The value  engineering by the Lessor with
an  accompanying  detailed  comparative  analysis  shall be  presented to Robert
Knowles,  the Lessee's  representative in regard to this project, for review and
approval  on behalf  of  Lessee.  Lessee's  approval  shall  not be  =reasonably
withheld.  The parties agree the Public Facilities District improvements will be
constructed by Lessor for a GUARANTEED MAXIMUM cost of $52,809,670, inclusive of
Construction  Loan Financing Cost, with a contract  savings  pass-back of 80% to
the Lessee and 20% to the Lessor, all as set forth in this Lease.

     (f) Changes to Construction Documents. After completion and approval, there
shall be no change  in the  Construction  Documents  without  the prior  written
consent of Lessee.

     5.6  Dispute  Resolution  Process.  Lessee and  Lessor  agree to follow the
independent resolution process set forth in this Section 5.6 to resolve disputes
regarding preparation of the Design Development Documents, Construction Drawings

                                       14
<PAGE>
and changes to Construction  Documents in an economic and time efficient  manner
so that the documents conform to the requirements of this Agreement, the Project
Schedule  is  not  adversely  impacted,   and  the  Public  Facilities  District
Improvements as constructed will satisfy the Project Requirements.

     (a)  Disputes  Resolution  Mediator.  In the event  that a  dispute  arises
between Lessee and Lessor during (i) the Design Development phase of the Project
regarding the adequacy of any Drawing,  specification or the  responsibility for
any cost of any  addition or change  (e.g.,  whether any Design  Development  is
consistent with and reasonably inferable from the Project Requirements), or (ii)
during the  preparation of the  Construction  Documents  concerning  whether the
Construction  Drawings are consistent with the Design  Development  phase of the
Project,  the parties  shall  proceed in good faith to resolve  such  dispute as
expeditiously as possible and shall cooperate so that the progress of the design
and  construction of the Project is not delayed.  If,  however,  the parties are
unable to resolve the dispute, either party may, by delivering written notice to
the other, refer the matter to the Mediator.

     (b) Dispute  Resolution  Process.  Within the five (5)  business day period
following  receipt of notice referring the matter to the Mediator,  all involved
participants  in such  matter,  that is Lessor,  Lessee,  Lessee's  Construction
Representative, Architect and General Contractor, if necessary, shall submit all
necessary  material and information with respect to the matter in dispute to the
Mediator. The Mediator shall be entitled to consult  independently,  or with all
or any of the parties or their respective consultants as the Mediator determines
necessary.  If such dispute  cannot be resolved by the parties  within three (3)
business days  following  intervention  of the  Mediator,  then either party may
exercise its rights and remedies under this Agreement

     5.7 Permits: Costs: Compliance with Legal Requirements. Lessor shall secure
all Permits.  Included within the Lease Payments is the Permit Allowance,  which
is attributable to the anticipated cost of permits and licenses required for the
Project.  If the actual  cost  incurred  by Lessor for permit and  license  fees
payable to  regulatory  authorities  is less than the Permit  Allowance,  Lessee
shall  receive a credit  toward the payment of the Lease  Payments  equal to the
difference.  If the actual cost  incurred by Lessor for permit and license  fees
payable to regulatory authorities is more than the Permit Allowance, then Lessee
shall pay the  difference  as an increase in the Lease  Payments.  Lessor  shall
cause all work on the Property to be performed in accordance with this Agreement
and  all  Requirements  of  Law  and  an  directions  and  regulations'  of  all
governmental   agencies  and  the   representatives   of  such  agencies  having
jurisdiction  over the Project and/or the Property.  Lessee shall have the right
to review and approve the terms and conditions of any  mitigation  measures that
will affect the Property following completion of the Project.

     5.8 Construction  Contract.  The  Construction  Contract shall require that
prior to the execution of  subcontracts  for major  subcontract  elements of the
Project  separately  stated in the Project Budget;  the Contractor shall request
competitive  bids  from  qualified  subcontractors  for each  major  subcontract
element.  Each major subcontract  element of the Project shall be awarded to the
lowest responsive and qualified bidder as determined by the General  Contractor.
The bid amounts  obtained from the lowest  responsive and qualified bidder shall
be utilized in determining the amount of Contract Savings.

                                       15
<PAGE>
     Because this is a design  build/fast track project,  Lessor is working with
certain major  subcontractors  to perform work on a design build concept.  These
subcontracts have been negotiated on a time and material not to exceed basis and
will not be competitively bid.

     5.9 Construction of Project.

     (a) Commencement of Construction. Lessor shall cause the General Contractor
to commence  construction of the Public Facilities District Improvements as soon
as practicable  following  receipt of necessary  permits,  and shall  thereafter
cause  construction of the Project to be diligently and continuously  prosecuted
in  accordance  with  the  Construction   Contract,  the  approved  Construction
Documents and the Project  Schedule subject only to Unavoidable  Delays.  Lessor
shall keep Lessee  informed of the  progress and quality of the work on a timely
basis.  All work shall be performed in a good and workmanlike  manner,  shall be
free of  defects  in the work and  materials  and  shall be  constructed  and in
accordance with the Construction  Documents,  the requirements of this Agreement
and  Requirements  of Law. The Lesser shall use its  reasonable  best efforts to
cause the  Project to be  Substantially  Complete  on or before the  Substantial
Completion Date.

     (b) Mandatory  Improvements.  Lessor shall cause the Mandatory Improvements
to be  substantially  completed not later than August 1, 2008,  which date shall
not be  extended  for any  Unavoidable  Delays,  subject to the  provisionso  of
Section 5.13.

     (c) Delays.  The  existence of  Unavoidable  Delays shall excuse Lessor for
resulting  delays and  changes in the  Project  Schedule,  except as provided in
Section  5.9(6) above.  There shall not be any  adjustment to the Lease Payments
for additional costs resulting from any Unavoidable  Delays, If Final Completion
of the Public  Facilities  District  Improvements  has not been completed by the
date set forth in Section  5.9 (b),  then  Lessee  may  elect,  but shall not be
obligated,  to lease the Public Facilities  District  Improvements in their then
existing condition,  and the Lease Payments shall be adjusted to an amount equal
to the following:

         i. The cost incurred by Lessor in acquiring the Land; plus

         ii. The amount  expended by Lessor through the date Lessee acquires the
Public Facilities District  Improvements in completing the Project to the extent
these costs are not included within the sums due the General Contractor; plus

         iii.  The amount paid by Lessor to the General  Contractor  pursuant to
the General Construction  Contract,  which shall in no event be greater than the
total amount of the General Construction Contact multiplied by the percentage of
completion of the work to be performed under the General  Construction  Contract
as of the date the Lessee acquires the Public Facilities District Improvements.

     (d) Prevailing Wages. All Contractors and  subcontractors  employed for the
construction of the Public Facilities District Improvements shall pay prevailing
wages in the community  for labor  employed on the Project as defined in Chapter
39.12 of the Revised Code of  Washington.  Lessor shall  provide an Affidavit of

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<PAGE>
Prevailing  Wages Paid  prior to  closing  the  transaction  verifying  Lessor's
compliance with this section.

     5.10 Changes to the Work-

     (a)  Changes to  Construction  Documents  There  shall be no changes in the
Construction  Documents  except as  agreed in  writing  by  Lessee  and  Lessor.
Following approval of the Construction Documents,  Lessee may request changes in
the Construction  Documents,  If Lessee requires any improvement or deviation in
the Construction Documents from the design or level, of quality reflected in the
Schematic Design and Detail Specifications as listed on Exhibit B, any resulting
increase in the cost of design or construction will be charged to Lessee. Lessee
must provide  written  notice to Lessor and Architect of any changes in the work
requested  by  Lessee.  Lessor  may refuse to approve or adopt any change in the
work  requested by Lessee unless Lessor and Lessee  execute an amendment to this
Agreement  increasing  the Lease Payments by the amount of the cost increase and
Lessee shall provide Lessor  assurances  reasonably  satisfactory to Lessor that
Lessee has funds  available  to pay for any  resulting  increase  in the Project
Costs.  Any change in the Construction  Documents  requested by Lessee that does
not alter the design or level of quality  reflected in the Schematic  Design and
Detail  Specifications as listed on Exhibit B shall not result in any additional
charge to. Lessee or increase in the Lease Payments.

     (b Use of Stated  Contingency:  Savings.  The Project  Budget  includes the
Stated Contingency. Lessor shall have the right to use the Stated Contingency at
Lessor's  discretion to pay for any increases in the cost of the Project,  other
than costs incurred in satisfying Lessor's indemnification obligations under the
Agreement,  until the Stated Contingency has been exhausted.  The Lease Payments
shall not increase  except as provided in Section  5.10(a)  above as a result of
the use of the Stated Contingency.

     5.11 Inspections.  Lessee,  Lessee's Construction  Representative and other
agents  designated  by Lessee shall have the  opportunity,  but not the duty, to
inspect the construction work from time to time as it progresses.  The frequency
and level of inspections shall be determined by Lessee. Lessor shall keep at the
Property for Lessee one record copy of all Construction Documents, all drawings,
specifications,  addenda,  change orders and other modifications,  in good order
and marked  currently to record changes and selections made during  construction
together with approved shop drawings, product data, samples and similar requited
submittals.   Lessor  shall   immediately   forward  to  Lessee's   Construction
Representative  Project  correspondence  and  field  communications   concerning
changes in the work or delays to .the  Project on any issue that might  cause an
increase  to the cost of the  Project or a delay in the  Substantial  Completion
Date  or  the  Final  Completion  Date.  All  records  maintained  by any of the
Contractors,  including,  but not limited to  elevations  of footings  and floor
locations,  shall be made available to Architect and/or Lessee upon request and,
upon  completion  of the  Project,  duplicate  originals  shall be  delivered to
Lessee.  Lessor  shall  record the  progress of the Project  Lessor shall submit
written  monthly  progress  reports  to  Lessee  including  information  on each
Contractor mid each  Contractor's  work, as well as the entire Project,  showing
percentages of completion. If during the course of such construction,  Lessee or
its agents or designees shall determine that the  construction is not proceeding
in accordance with the Construction Documents,  Lessee shall be entitled to, but
shall be under no obligation to, give notice in writing to Lessor specifying the

                                       17
<PAGE>
particular deficiency or omission,  and Lessor shall be responsible to cause the
General  Contractor to correct the noted deficiency or omission.  The failure by
Lessee to provided any notice of any observed  deficiency or omission  shall not
give rise to any  liability S Lessee and shall not be considered a waiver of any
right  of  Lessee  under  this  Agreement,  including  without  limitation,  the
enforcement of the representations and warranties of Lessor under this Agreement
and the  warranties  of the General  Contractor  under the General  Construction
Contract with respect to the  completion of the Property in accordance  with the
Construction Documents.

     5.12  Construction  Loans.  The Lessor shall have the right to encumber the
Land by a deed of  trust  securing  payment  of the  Construction.  The  Project
construction  costs that are included in the Construction  Loan shall not exceed
Forty-eight   Million  Five  Hundred   Thousand   Dollars   ($48,500,000).   The
Construction  Loan  shall not be  modified,  altered,  revised or amended in any
manner which would in any material respect adversely affect the rights of Lessee
under  this  Agreement.  The  Construction  Loan  documents  shall  require  the
Construction  Lender  to  notify  Lessee  of any  default  by  Lessor  under the
Construction  Loan. Lessor shall not further mortgage,  encumber or suffer to be
encumbered all or any portion of the Property  without the prior written consent
of Lessee.  Lessor may assign the right to receive payment of the Lease Payments
as provided under Article VII, at Closing to the Construction  Lender too secure
Lessor's obligations under the Construction Loan.

     5.13  Termination  of Agreement.  In the event Lessor has not completed the
Mandatory Improvements prior to September 17, 2008, Lessor shall be obligated to
pay,  as  liquidated  damages,  the amount of $5,000 per day for a maximum of 30
days.  If the  Mandatory  Improvements  are not  completed  by October 17, 2008,
Lessor  shall be  subject  to such  additional  damages  as may be  proven,  and
specifically to such  consequential  damages as may be suffered by Lessee due to
contractual obligations for use of the Leased Premises.

     5.14 As-Built Plans and Specifications;  Manuals;  Warranties;  Permits and
Licenses.  On or before  Final  Completion  of the  Public  Facilities  District
Improvements  Lessor  shall  provide  Lessee with a complete and detailed set of
"as-built" plans and  specifications  for the Project (to be provided on CAD, or
such other format  approved by Lessee),  together with all  technical,  service,
instruction and procedure manuals, warranties, permits and licenses.

     5.15  Construction  Covenants and  Warranties.  Lessor hereby  warrants and
covenants to Lessee as follows:

     (a) Lessor shall cause the  construction of the Project and installation of
any  Personal  Property to be pursued  diligently-until  completed in a good and
workmanlike   manner  and  substantially  in  accordance  with  this  Agreement,
Construction  Documents and all Requirements of Law (including all Environmental
Laws) so that the Project will be completed and lien-free on or before the Final
Completion Date,  provided this shall not be construed to prohibit the Lessor to
encumber the Property to secure the construction loan.

     (b)  During  the  course  of  such  construction,  Lessor  shall  make  all
applications  for,  and  thereafter  obtain,  any  and  all  permits,  licenses,
variances and other  approvals  issued by appropriate  governmental  authorities
having   jurisdiction   over  the   Property  or  Lessor  and  relating  to  the

                                       18
<PAGE>
construction,  operation,  use or  occupancy of the Public  Facilities  District
Improvements,  or any  portion  thereof or  relating  to any  zoning,  land use,
subdivision,  environmental,  building and construction laws and/or  regulations
restricting,  regulating or otherwise  affecting the use, occupancy or enjoyment
of the  Public  Facilities  District  Improvements,  as the same may be  issued,
modified or amended from time to time (hereinafter collectively "Permits" and as
to each, "Permit").

     (c) No  amendment  or change in any Permit and no  amendment or change in o
zoning or any other land use  control  has been  sought or  obtained  or will be
sought or  obtainedo  with  respect to the  Property  without the prior  written
approval of Lessee.

     (d) Lessor shall  maintain the  following  insurance  policies  until Final
Completion:  (i) "All Risk" Builder's Risk Insurance including collapse coverage
and coverage  for material in storage and while in transit on a Completed  Value
non-reporting  form for one hundred percent (100%) of the insurable  replacement
value of the Property on a replacement  cost basis on all  materials,  equipment
and  supplies  which  are to  become a  permanent  part of the  Property,  while
awaiting erection and until  completion;  (ii) Worker's  Compensation  Insurance
including  Employer's  Liability  to provide  statutory  benefits as required by
applicable  law or laws;  (iii)  Commercial  General  Liability  Insurance on an
"occurrence" basis for hazard of operations,  independent contractors,  products
and completed  operations for a period of two (2) years after completion of work
and  contractual  liability,  such  liability  insurance  to include  Broad Form
Property  Damage and afford  coverage for  explosion,  collapse and  underground
hazards and personal  injury  liability  insurance,  all with limits of not less
than  Two  Million  Dollars  ($2,000,000);  and  (iv)  Comprehensive  Automobile
Liability  covering owned,  non-owned and hired vehicles used in connection with
the Property with limits not less than One Million Dollars ($1,000,000).All such
insurance  shall remain in force until the Closing  Date (as defined  below) and
shall be with companies  satisfactory to Lessee.  Each such policy shall provide
that the same may not be  cancelled  or  amended  by any  party  for any  reason
whatsoever, without giving Lessee at least thirty (30) days prior written notice
of any proposed cancellation or amendment,  and each such liability policy shall
include Lessee as a named insured.

     (e) All work  performed  on, oor to be  performed  on,  Personal  Property,
materials,  machinery or equipment  delivered to or installed on or in, or to be
delivered or installed  on or in, the  Regional  Events  Center are, or will be,
subject to written guarantees or warranties usually and customarily  obtained or
delivered and all of Lessor's  rights  pursuant to such guarantees or warranties
as well as under any construction  agreements or service  contracts are, or will
be, in full force and effect,  enforceable  according to their respective terms,
without defense or set-off, and assignable to Lessee;  provided,  however,  that
Lessee shall not be deemed to have  assumed  liability to Lessor or to any other
person as a result of accepting any such  assignment,  such assignment being for
the sole benefit of Lessee.

     (f) Lessor  shell  provide a warranty  that all work  performed  on and all
Personal  Property,  material and equipment  furnished to and installed in or on
the Public Facilities District  Improvements will substantially conform with the
Construction  Documents,  as  to  kind,  quality,   function  of  equipment  and
characteristics  of material  and  workmanship,  and will  remain in  conformity
therewith  for a  period  of one (1)  year  commencing  as of the  date of Final

                                       19
<PAGE>
Completion of the Project (the "Warranty Period"). Notwithstanding the foregoing
if any longer  warranty or  guarantee  period is  specified  for any  particular
equipment,  materials  or  workmanship  under this  Agreement or any contract or
under any subcontract in connection with the  construction  and  installation of
the completion of the Project or installation of any personal  property or under
the laws of the State of  Washington,  the longer  warranty or guarantee  period
shall govern.  Lessor shall, at Lessor's expense and without cost to, and to the
satisfaction  of Lessee,  immediately  upon  notice from Lessee sent at any time
between  the date of this  Agreement  and that date which is twelve  (12) months
following the expiration of the applicable Warranty Period, replace,  correct or
repair (i) any work,  personal  property,  material  and  equipment  which is at
variance  from  the  Construction   Documents;   (ii)  any  defects,  faults  or
imperfections in such work,  personal property,  material or equipment which may
appear prior to the expiration of the applicable  Warranty Period; and (iii) any
damages,  defects or faults in the Project and Personal Property  resulting from
any of the  foregoing.  In the event  that  Lessor  fails to cure any  defect in
accordance  with Lessee's notice thereof within fifteen (15) days after Lessor's
receipt of such notice,  or if the nature of such cure is such that it cannot be
completed  within such  fifteen (15) day period,  Lessor fails to commence  such
cure within such fifteen (15) day period or, once commenced, fails to diligently
prosecute  such cure to  completion  within sixty (60) days  following  Lessee's
notice,  Lessee,  at Lessor's  sole cost and expense,  may take  whatever  steps
Lessee deems reasonably  necessary to correct such defect and any costs incurred
by Lessee in connection  therewith  shall be payable by Lessor upon demand.  Any
action  taken by Lessee  under  this  Section  5.15  shall not be deemed to be a
waiver by Lessee of  Lessor's  failure to perform nor limit or abridge any other
right or remedy  Lessee may have as a result of such failure,  whether  provided
under this  Agreement,  or otherwise  at law or in equity.  The  obligations  of
Lessor under this Section 5.15 shall be deemed  satisfied if (i) the  warranties
under the General  Construction  Contract  provide tile same warranty  terms and
remedies as stated in this Section 5.15 and (ii) Lessor,  upon Final  Completion
of the Public Facilities District Improvements, assigns to Lessee all warranties
under the General Construction Contract.

     5.16 Disclaimer.

     (a) Lessee Not Liable for  Construction  of  Project.  Notwithstanding  any
other provision of this Agreement to the contrary, Lessee is under no obligation
to, nor shall it construct or supervise the  construction of the Project.  It is
understood  and agreed that  Lessee's  right to inspect the Project prior to the
Closing  Date is for the sole  purpose  of  protecting  its rights as a contract
vendee under this Agreement.  No part of the cost of construction of the Project
shall ever become an  obligation  of Lessee.  Lessee is not  responsible  to any
Contractors  or  to  any  subcontractors  under  any  subcontracts  for  design,
development,  repair,  renovation  or  construction  of the project or any other
third parties for any purpose  whatsoever.  Nothing  contained in this Agreement
shall be construed as the consent or request of Lessee,  express or implied, for
the  performance of any labor or services or for the furnishing of any materials
or equipment for any construction, alteration, addition, repair or demolition of
or to  the  Property  (or  any  part  thereof).  Lessor  shall  include  in  the
Construction  Contract  and the  contracts  for  architectural  and  engineering
services the following or  substantive  equivalent  disclaimer  NOTICE IS HEREBY
GIVEN THAT GREATER WENATCHEE  REGIONAL EVENTS CENTER PUBLIC FACILITIES  DISTRICT
WILL NOT BE LIABLE FOR ANY LABOR, SERVICES,  MATERIALS OR EQUIPMENT FURNISHED OR
TO BE FURNISHED TO LESSOR, OR ANYONE HOLDING AN INTEREST IN THE PROPERTY (OR ANY

                                       20
<PAGE>
PART THEREOF)  THROUGH OR UNDER LESSOR,  AND THAT NO CONSTRUCTION OR OTHER LIENS
FOR ANY SUCH LABOR,  SERVICES,  MATERIALS OR EQUIPMENT SHALL ATTACH TO OR AFFECT
THE INTEREST OF LI3SSEE IN THE PROPERTY.

     (b) Indemnification.Lessor shall protect, defend, indemnify and hold Lessee
and its officials,  officers, employees and agents harmless from and against any
and  all  liabilities,  obligations,  damages,  penalties,  charges,  costs  and
expenses including, without limitation,  reasonable attorneys fees, which Lessee
may suffer or incur in  connection  with its  ownership  or use of the  Property
resulting  from any  action or  inaction  of Lessor  or its  agents,  employees,
Contractors or subcontractors  occurring before the Closing Date. To the maximum
extent  permitted  by law,  Lessor  shall  indemnify  and defend  Lessee and its
officials, officers, employees and agents from and be liable for all damages and
injury  which shall be caused to owners of property on or in the vicinity of the
construction  of the  Project or which  shall  occur to any person or persons or
property whatsoever arising out of this Agreement, whether or not such injury or
damage is caused by negligence of the Lessor or caused by the inherent nature of
the  construction of the Project.  To the extent a court determines RCW 4.24.115
applies,  Lessee shall not be entitled to such indemnification for damage caused
to  Lessee or any third  party by  reason  of the sole  negligence  of Lessee or
damage  caused by the  concurrent  negligence  of  Lessee to the  extent of such
concurrent negligence.  The foregoing  indemnification shall survive the Closing
Date.

IT IS SPECIFICALLY AND EXPRESSLY  UNDERSTOOD THAT THE  INDEMNIFICATION  PROVIDED
HEREIN  CONSTITUTES THE LESSOR'S WAIVER OF IMMUNITY UNDER INDUSTRIAL  INSURANCE,
TITLE 51 RCW, SOLELY FOR THE PURPOSES OF THIS  INDEMNIFICATION.  THIS WAIVER HAS
BEEN  MUTUALLY  NEGOTIATED  BY THE PARTIES.  THE  PROVISIONS OF MS SECTION THALL
SURVIVE THE EXPIRATION OR TERMINATION OF THIS AGREEMENT.

     (c)  Notice of  Claims.  Promptly  upon  receipt by Lessee of notice of any
action or proceeding  for which Lessor have agreed to indemnify  Lessee,  Lessee
shall  give  Lessor  written  notice of such claim or the  commencement  of such
action or proceeding and Lessor shall thereafter  vigorously defend on behalf of
Lessee,  but at the  sole  cost and  expense  of  Lessor,  any  such  action  or
proceeding for which  indemnification  is sought Failure to promptly give Lessor
such notice shall not  constitute a bar to the  indemnification  obligations  of
Lessor  hereunder  unless such delay has  resulted in  substantial  prejudice to
Lessor in the defense of such claim or action.  No settlement of any such action
or proceeding  shall be made without  Lessee's  written  approval which approval
shall not be unreasonably withheld (unless Lessee has previously been discharged
from all liability in connection with such action or proceeding).

     5.17 Enforcement of Warranties.  After Closing, Lessee acknowledges that it
shall be fully  responsible for maintenance and repair of the Public  Facilities
District  Improvements,  subject  to the right to recover  under any  applicable
warranty.  Lessor  shall  take all  actions  reasonably  requested  by Lessee to
enforce or  otherwise  obtain  the  benefit of any  warranty  received  from the
General Contractor or any other Contractors or any subcontractor thereof, or any
supplier,  material-men or manufacturer  relating to the Project but shall incur
no additional expense or liability in that connection.

                                       21
<PAGE>
     5.18 Architect's Administration of the Contract.

     (a) Lessor  shall  cause the  Architect  to provide  administration  of the
Construction  Contract  as  described  in the  Contract  Documents,  (1)  during
construction,  (2) until  final  payment is due and (3) from time to time during
the Warranty Period. The Architect will have authority to act only to the extent
provided in the  Contract  Documents,  unless  otherwise  modified in writing in
accordance with other provisions of the Construction Contract.

     (b)  Lessor  shall  cause  the  Architect  to visit  the site at  intervals
appropriate to the state of the Contractor's  operations (1) to become generally
familiar  with and to keep the Public  Facilities  District  informed  about the
progress  and  quality of the  portion of the  Project  Work  completed,  (2) to
endeavor  to  guard  the  Public   Facilities   District   against  defects  and
deficiencies in the Project Work, and (3) to determine in general if the Project
Work is being  performed in a. manner  indicating  that the Project  Work,  when
fully completed, will be in accordance with the Contract Documents. However, the
Architect  will  not be  required  to  make  exhaustive  or  continuous  on-site
inspections to check the quality or quantity of the Project Work.

     (c) Under the direction of Lessor, the Architect will prepare Change Orders
and  Construction  Change  Directives  and may  authorize  minor  changes in the
Project Work as approved by the Public Facilities District

     (d) The terms "Work," "Change Orders," and "Construction Change Directives"
shall mean as the same are defined in the Contract Documents.

     5.19 Project Manager,  International  Coliseums Company ("ICC") shall serve
as "Project Manager" for the Project to provide project management  services for
Lessor,  including,  without  limitation:  (i) the  selection  and  oversight of
architects and engineers,  licensed to practice in the State of Washington  that
will design and develop the Project;  (ii) in conjunction with the assistance of
Contractor,   the  preparation  of  the  Project  Budget,  the  preparation  and
management  of the  construction  management  plan  for  the  Project,  and  the
preparation  of  other  project  schedules,   including  schedules  to  identify
"critical  path"  items for the  accomplishment  of the  Project;  and (iii) the
selection,  acquisition and installation of furniture,  fixtures and furnishings
for the Project. ICC shall provide services for Lessor throughout the pre-design
phase,   schematic  design  phase,   design  development   phase,   construction
documents/drawings  phase, construction phase and post-construction phase of the
Project.

                                   ARTICLE VI
                                   LEASE TERM

     This Lease is effective upon its execution by Lessor and Lessee;  provided,
however,  that the  obligation  of the Lessee to make Lease  Payments  hereunder
shall not commence unless and until the Substantial  Completion Date. This Lease
shall  terminate on September 1, 2031or when all Lease  Payments have been paid,
whichever is earlier,  unless  terminated  prior thereto in accordance  with the
provisions of this Lease.

                                       22
<PAGE>
                                   ARTICLE VII
                                 LEASE PAYMENTS

     7.1 Lease Payments.

     (a) Lease  Payment  Obligation  to Arise Only Upon  Substantial  Completion
Date. The obligation of the Lessee to make Lease  Payments  hereunder  shall not
commence until the Substantial Completion Date.

     (b) Principal  Component of Lease Payments.  The principal component of the
Lease Payments is reflected in Exhibit H as the total principal  amount of Lease
Payments.  The parties farther agree to the amortization  schedules set forth in
the attached  Exhibit H. Provided,  that the Lease Payments shall be adjusted to
reflect a credit to Lessee of 80% of Contract Savings.

     (c) Interest  Component of Lease Payments.  The interest component of Lease
Payments,  representing interest on the principal component of Lease Payments is
set forth in Exhibit H.

     (d) Pledge to Pay Lease Payments. From and after the Substantial Completion
Date, the Lessee shall make all Lease Payments as determined in accordance  with
Section  7.1 at such  times  and in such  amounts  as set  forth in  Exhibit  H;
provided,  however,  that the Lessee's obligation to make any such Lease Payment
may be satisfied,  in whole or in part,  from funds on deposit and available for
such purpose in the Lease Payment Fund. The obligation of the Lessee to make the
Lease Payments  constitutes a limited tax general  obligation of the Lessee. The
Lessee hereby pledges all Sales Tax Revenue and other revenue from the operation
of the  Public  Facilities  District  Improvement  for the  payment of the Lease
Payments.  Lessee further pledges to levy the Sales Tax at the rate of 0.033% as
provided in Chapter 82.14.390 RCW so long as this Lease is in effect.

     (e) City of Wenatchee  Obligations.  To the extent that the Lessee does not
have non-voted general  obligation debt capacity at least equal to the principal
amount of the Lease  Payments at the time the Lessee's  obligation to make Lease
Payments  commences,  the City of Wenatchee  (the "City" or "Obligor")  shall be
obligated  to pay the  proportionate  amount of Lease  Payments in excess of the
Lessee's non-voted debt capacity until such time as the Lessee's debt o capacity
at least equals the principal  amount of the then remaining Lease Payments.  The
City  covenants that as long as it is obligated to make Lease Payments that each
year it will  include  in its  budget  and levy ad  valorem  taxes  upon all the
property  within  the  City  subject  to  taxation  in an  amount  that  will be
sufficient,  together  with other money of the City legally  available  for such
purposes, to pay the principal of and interest on the Lease Payments as the same
become due.

     In  addition,  prior to the  time the  Lessee's  obligation  to make  Lease
Payments  commences,  the City agrees that it will enter into a contingent  loan
agreement  with the Lessee that  commits the City to make loans to the Lessee if
and when the Lessee  does not have  sufficient  money to pay the Lease  Payments
when due. To the extent that this Lease has not been assigned by the Lessor to a
bank trust department or nonprofit corporation pursuant to Exhibit H, the Lessor
shall be a third party beneficiary of the contingent loan agreement.

                                       23
<PAGE>
     (f)  Books  and  Records.  Lessor  shall  keep or cause to be kept full and
detailed  accounts  and  records of all costs  incurred in  connection  with the
Project,  together  with  supporting  statements,   bills,  vouchers,  receipts,
memoranda, correspondence and similar data relating thereto in a form acceptable
to Lessee.  Lessor's  records  shall be  maintained  in a manner that  allocates
costs, in a manner  consistent with generally  accepted  accounting  principles.
Lessee or its  designated  representative  shall be afforded  access to inspect,
review,  copy and audit all such records and  supporting  data.  Sixty (60) days
prior to the estimated date for Finalo  Completion of the Project,  Lessor shall
deliver to Lessee an accounting,  in a form and substance satisfactory to Lessee
and  certified  by Lessor,  setting  forth a detailed  itemization  of all costs
incurred  in the  Project  Lessee  and its  accountants  shall have the right to
review during normal business  hours,  and following prior -written notice given
by Lessee  to Lessor at least  five (5)  business  days  prior to the  requested
review, the accounting  together with the records and supporting data referenced
above to  determine  the  accuracy  of the  Project  costs  as set  forth in the
accounting delivered by Lessor.

     7.2 Additionall Rent.

     (a) After Substantial  Completion.  On or after the Substantial  Completion
Date Lessee shall be liable for Additional Rent for costs not otherwise provided
for by the Lease Payments  calculated  pursuant to Section 7.1 above. Such costs
may include:  Lessee-Initiated  Change  Orders in  accordance  with Section 5.10
hereof, and taxes and utility charges for which the Lessee is liable pursuant to
Section  9.3  hereof  (herein  referred  to as  "Additional  Rent").  Due to the
contingent  nature of such Additional  Rent, it shall not constitute debt of the
Lessee for purposes of debt limitations established by RCW 39.36.020. The Lessee
shall  have no  obligation  to pay  Additional  Rent  prior  to the  Substantial
Completion Date.

     (b)  Securitization  of Lease.  It is the  expectation of Lessor and Lessee
that the payments due under this Lease will be  securitized in the form of lease
revenue bonds or certificates of participation. In such event the Lease Payments
described in Section 7.1 and  Additional  Rent described in Section 7.2(a) shall
constitute the full extent of the Lessee's obligations hereunder.

     7.3 Defeasance. In the event that money and/or "Government Obligations," as
such obligations are now or may hereafter be defined in Ch. 39.53. RCW, maturing
at such time or times and  bearing  interest  to be earned  thereon  in  amounts
sufficient  to pay or prepay all Lease  Payments and  Additional  Rent due under
this Lease in accordance with the terms of this Lease, are irrevocably set aside
and pledged in a special account to effect such payment or. Prepayment,  then no
further  payments  need be made of any Lease  Payments  under this Lease and the
Lessor  shall not be  entitled  to any lien,  benefit or  security in the Leased
Premises,  except the right to receive the funds so set aside and  pledged,  and
Lessor shall have no further obligation to the Lessee hereunder.

                                  ARTICLE VIII
                                       USE

     8.1 Use of Premises.  From and after the Substantial  Completion  Date, the
Lessee may use the Leased  Premises  for the  occupancy,  use,  maintenance  and
operation of a regional events center and all uses incidental thereto, including

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<PAGE>
but not  limited to, any other use  permitted  by law or by the  Certificate  of
Occupancy.

     8.2 Quiet  Enjoyment.  Upon payment by Lessee of the Lease Payments  herein
provided,  and upon the observance and  performance of the covenants,  terms and
conditions on the Lessee's part to be observed and performed,  Lessor  covenants
that Lessee shall  peaceably and quietly hold and enjoy the Leased  Premises for
the term hereby  demised  without  hindrance  or  interruption  by Lessor or any
person or  persons  lawfully  or  equitably  claiming  by,  through or under the
Lessor.

                                   ARTICLE IX
                               ABSOLUTE NET LEASE

     9.1  Absolute  Net Lease.  This Lease is an  "absolute  net lease," and the
Lessee's  obligations  to make Lease Payments as provided in Section 7.1 of this
Lease, to pay Additional  Rent AS provided in Section 7.2 of this Lease,  and to
perform and observe all other  covenants and agreements of the Lessee  contained
herein  shall be absolute  and  unconditional,  and the failure by the Lessee to
make such  Lease  Payments  and to pay  Additional  Rent at the times and in the
amounts as provided in Sections 7.1 and 7.2 hereof shall  constitute an Event of
Default under this Lease.  All Lease  Payments  shall be made without  notice or
demand  and  without  setoff,  counterclaim,  abatement,  deduction  or  defense
whatsoever.  Following  Substantial  Completion,  notwithstanding  the  Lessor's
obligation  to  complete  punch-list  items,  the Lessee  shall  assume the sole
responsibility  for the  condition,  use,  operation,  maintenance,  repair  and
management  of the Leased  Premises,  and Lessee will,  at its cost and expense,
keep and  maintain  the Leased  Premises  in good  repair and  condition  and in
compliance  with  all  applicable  laws,  rules,   regulations,   statutes,  and
ordinances,  and will make all  structural and  nonstructural,  and ordinary and
extraordinary changes, repairs and replacements which may be required to be made
upon or in connection with the Leased Premises in order to keep the same in good
repair  and  condition,  reasonable  wear and tear and  ordinary  use  excepted;
provided,  however, that nothing herein shall be construed to release the Lessor
from  completion  of the  punch-list  items,  and if the Lessor  should  fail to
complete the punch-list items within a reasonable time, the Lessee may institute
such legal action  against the Lessor as the Lessee may deem necessary to compel
the   performance  of  such   obligation  or  to  recover   damages   therefore.
Notwithstanding  anything in this Lease to the  contrary,  Lessee  shall have no
obligations  to indemnify  Lessor for any claims,  loss,  liabilities or damages
arising from the  negligence or willful  misconduct of Lessor,  its employees or
agents.

     9.2 Lease - Non-terminable.  Except as otherwise expressly provided herein,
this Lease shall not  terminate,  nor shall  Lessee have any right to  terminate
this Lease or to be released or discharged  from any  obligations or liabilities
hereunder for any reason, including,  without limitation,  damage or destruction
of the Public Facilities  District  Improvements,  it being the intention of the
parties  hereto  that all  Lease  Payments  payable  by Lessee  hereunder  shall
continue  to be payable  in all  events in the  manner  and at the times  herein
provided  unless the obligation to pay the same shall be terminated  pursuant to
the express  provisions  of Section 5.13 or Section 15.1 of this Lease.  In that
connection, Lessee hereby waives, to the extent permitted by applicable law, any
and all  rights  that it may now  have or  that  may at any  time  hereafter  be
conferred  upon it, by statute  or  otherwise,  to  terminate,  cancel,  quit or
surrenders  this Lease except in  accordance  with the express  terms hereof and

                                       25
<PAGE>
agrees that if, for, any reason  whatsoever,  this Lease shall be  terminated in
whole  or in  part by  operation  of law or  otherwise  except  as  specifically
provided in Section 5.13 or Section 15.1 of this Lease,  Lessee will nonetheless
pay to Lessor (or to whosoever shall be entitled  thereto as expressly  provided
herein)' an amount equal to each Lease  Payment at the time such  payment  would
have  become  due and  payable  in  accordance  with the terms  hereof  had such
termination not occurred.

     9.3 Taxes and Utility Charges:  The Lessee shall pay as Additional Rent all
charges for utility,  communication and other services rendered to or used on or
about the Leased  Premises  assessed and payable from and after the  Substantial
Completion  Date.  Lessee  also  covenants  to and  agrees  to pay all taxes and
assessments  levied  upon  the  Leased  Premises  that  are  payable  after  the
Substantial Completion Date and to pay a prorated share of taxes and assessments
paid by Lessor prior to the  Substantial  Completion  Date and applicable to any
period after the Substantial  Completion Date;  provided,  however,  that if any
such taxes or  assessments  may be paid in  installments  without  penalty,  the
Lessee  shall  have  the  right  to  pay  any  such  taxes  or   assessments  in
installments,  and provided further that the Lessee shall also be liable for any
property  taxes  assessed  with  respect  to  the  Leased   Premises  after  the
Substantial Completion Date.

     9.4  Compliance  with The  Lessee  shall at all  times  from and  after the
Substantial  Completion Date, at the Lessee's own cost and expense,  perform and
comply with all laws, rules,  orders,  ordinances,  regulations and requirements
now or hereafter  enacted or promulgated  (including,  without  limitation.  all
zoning,  pollution and environmental  requirements,  hereinafter  referred to as
"Environmental  Requirements"),  of every  government  and  municipality  having
jurisdiction over the Leased Premises and of any agency thereof, relating to the
Leased  Premises,  or the Improvements  thereon,  or the facilities or equipment
thereon or therein, or the streets,  sidewalks,  curbs and gutters adjoining the
Leased Premises, or the use or operation of the Leased Premises,  whether or not
such laws' rules,  orders,  ordinances,  regulations or requirements so involved
shaft necessitate structural changes,  .improvements,  interference with use and
enjoyment of the Leased Premises,  replacements or repairs,  and Lessee shall so
perform  and  comply,  whether  or not such  laws,  rules,  orders,  ordinances,
regulations  or  requirements  shall now exist or shall  hereafter be enacted or
promulgated,   and  whether  or  not  such  laws,  rules,  orders,   ordinances,
regulations or requirements  can be said to be within the present  contemplation
of the parties hereto.

     9.5 Lessee's Right to Contest.  The Lessee shall have the right to contest,
by appropriate legal proceedings,  any tax, charge,  levy,  assessment,  lien or
other encumbrance,  and/or any law, rule, order, ordinance,  regulation or other
governmental  requirement affecting the Leased Premises, and to postpone payment
of or compliance the same during the pendency of such contest, provided that:

     (i) the Lessee  shall not  postpone  the  payment of any such tax,  charge,
levy,  assessment,  lien or other  encumbrance  for such length of time as shall
permit  the  Leased  Premises,  or any lien  thereon  created by such item being
contested,  to be sold by any federal,  state, county or municipal authority for
the non-payment thereof;

     (ii) Lessee shall not postpone  compliance with any such law, rule,  order,

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<PAGE>
ordinance,  regulation or other governmental  requirement if Lessor will thereby
be subject to criminal  prosecution,  or if any municipal or other  governmental
authority shall commence a process  according to applicable law to carry out any
act to comply with the same or to  foreclose or sell any lien  affecting  all or
part  of the  Leased  Premises  which  shall  have  arisen  by  reason  of  such
postponement or failure of compliance;

     (iii) Lessee  shall  proceed  diligently  and in good faith to resolve such
contest;

     (iv) Such contest  shall be in  compliance  with all laws,  rules,  orders,
ordinances, regulations or other governmental requirements; and

     (v) Lessee shall not postpone compliance with any such laws, rules, orders,
ordinances,  regulations or other  governmental  requirements  if the same shall
invalidate any insurance required by this Lease.

                                    ARTICLE X
                     ENVIRONMENTAL CONDITION OF IRE PROPERTY

     10.1 Environmental  Information.  Lessee shall have the right following the
Effective Date to have its own environmental  assessment made of the Land, which
additional  environmental  assessment may include further sampling and analysis.
The cost of such further sampling and analysis shall be borne by Lessee.

     10.2  Lessor's   Representations  and  Warranties  Regarding  Environmental
Conditions.  Lessor  has no  knowledge  of any  Hazardous  Substances  presently
located  on or under  the Land  other  than as  disclosed  in the  Environmental
Reports.  The Lessor has not received any written notice  alleging  violation of
any  Environmental  Laws  with  respect  to the  Land,  nor,  to the best of the
Lessor's knowledge,  have there been any written claims,  demands, or suits made
against any Person  regarding  potential  liability for  environmental  response
costs or natural  resource  damages in connection  with the Property  other than
shown in the Environmental Reports.

     10.3   Survival.   The   representations,    covenants,    warranties   and
indemnifications by Lessor contained in this Article X shall survive the closing
of the sale of the Real  Property  for a period of  twenty-five  (25)  years and
shall not expire until the expiration of said 25-year period.

     10.4  Supersedure.  This Article X supersedes any limitation oor expiration
on   representations,   warranties  or  indemnification   provisions,   and  any
indemnifications,  with respect to environmental  matters set forth elsewhere in
this Agreement.

                                       27
<PAGE>
                                   ARTICLE XI
                         REPRESENTATIONS AND WARRANTIES

     11.1 Lessor's Representations and Warranties.  In order to induce Lessee to
enter into this Agreement and the transactions contemplated hereby, Lessor makes
the following  representations  and  warranties as of the date of this Agreement
and again as of the Closing Date:

     (a) Lessor is a limited liability company duly organized,  validly existing
and in good standing  under the laws of the State of Washington and qualified to
do business in the State of Washington. Lessor has full power to enter into this
Agreement,  to execute and deliver the Deed and all other documents  required in
this  transaction,  and to perform all of the terms,  conditions  and provisions
hereof and as set forth in such documents. The acceptance and performance of the
terms and provisions of this Agreement have been duly authorized and approved by
all  necessary  parties and this  Agreement is binding upon Lessor in accordance
with its terms.

     (b)  At  the  Closing  Date,   Lessor  shall  have  good,   marketable  and
indefeasible  title  to  all of  the  Property  subject  only  to the  Permitted
Encumbrances,  and Lessor is aware of no other  matters which  adversely  affect
title thereto.

     (c) The  Property  will be  subject  to no  encumbrances,  defects,  liens,
adverse  claims or other matters known to Lessor or of which Lessor is or may be
aware  except the  Permitted  Exceptions,  and there will be no  commitments  or
agreements, including leases, of any kind or character relating to the Property.
In particular,  Lessor has delivered to Lessee  complete copies of all contracts
of any nature with respect to the Property and is unaware of any defaults either
by Lessor or by  contracting  parties with respect  thereto,  and to the best of
Lessor's knowledge no basis exists for any default thereunder.  It is understood
and  agreed  that  Lessor  shall  be  responsible  for  any  existing   service,
maintenance and operating contracts which Lessor has entered into, and that such
contacts  shall not be assumed  by Lessee  except in the event and to the extent
that such  contracts  have been approved by Lessee and  specifically  assumed by
Lessee at the  Closing  by  Lessee's  execution  of the  assignment  of  Service
Contracts.

     (d) Other  than  disclosed  by Lessor to Lessee as of the  Effective  Date,
there  is  no  claim,  litigation,  proceeding,  or  governmental  investigation
pending,  or so far as is known to Lessor,  threatened  against or  relating  to
Lessor's properties or business, the Property, or the transactions  contemplated
by this  Agreement,  or any dispute  arising  out of any  contact or  commitment
entered into regarding the Property,  nor is there any basis known to Lessor for
any such action.

     (e)  Neither the  execution  of this  Agreement,  the  consummation  of the
transactions  contemplated hereby, nor the fulfillment of the terms hereof, will
conflict  with  or  result  in a  breach  of  any of the  terms,  conditions  or
provisions  of, or  constitute a default  under,  any agreement or instrument to
which  Lessor is, or is asserted  to be, a party  affecting  the  Property or to
which the  Property  is subject or any  applicable  laws or  regulations  of any
governmental body having jurisdiction.

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<PAGE>
     (f) Lessor has not committed nor obligated itself in any manner  whatsoever
to sell the  Property  or any portion  thereof to any party  other than  Lessee.
Lessor has not hypothecated or assigned the rents or income from the Property in
any manner.

     (g) Lessor has not  received  any  notices  from any  insurance  companies,
governmental  agencies or from any other parties with respect to any  violations
or other matters concerning the Property.

     (h) Lessor  agrees to keep the Property  free from liens which might result
and to indemnify,  defend,  protect and hold Lessee harmless from any such liens
and all  attorneys'  fees and  other  costs  incurred  by  reason  thereof.  The
provisions of this subsection (h) shall not limit the right of Lessor to contest
in good faith claims of liens asserted in connection with the Project so long as
Lessor is able to satisfy  the  requirements  of Article  VIII as of the date of
Closing.

     (i) All  certificates,  schedules and other  documents  containing  factual
information to be delivered by Lessor,  or by Lessor's officers and other agents
pursuant  to or in  connection  with this  Agreement,  are and shall be true and
correct and do not and shall not contain any untrue statement of a material fact
or omit to state any material fact the  disclosure of which is necessary to make
the statements contained therein and herein, in light of the circumstances under
which they are made, not misleading.

     (j) As of the date of this Agreement,  there is no, and at the Closing Date
there will be no, labor  dispute  with any  construction,  maintenance  or other
personnel or employees of Lessor that could  adversely  affect the use operation
or value of the Property. Lessor hereby agrees to defend, protect, indemnify and
hold  Lessee  harmless  from any and all loss,  damage,  liability  or  expense,
including attorneys' fees and costs, Lessee may suffer as a result of any breach
of or any inaccuracy in the foregoing representations and warranties.

     11.2 Lessee's  Representations  and Warranties.  Lessee  represents  (which
representations shall be deemed to have been made again on the Closing Date) and
agrees to  indemnify  Lessor  from and  against  any loss or  damage,  including
reasonable  attorneys' fees and expenses,  as a result of any inaccuracy in such
representations,  that (a) Lessee is a municipal  corporation  validly  existing
under the laws of the State of  Washington  and is  qualified  to do business in
Washington;   (b)  Lessee  has  taken  all  steps  necessary  to  authorize  the
transaction  contemplated  by this  Agreement;  (c) the officer  executing  this
Agreement and all other documents in connection  with this  transaction is fully
authorized  and  empowered  to do so, and (d) upon  execution  by  Lessee,  this
Agreement represents the lawful and binding obligation of Lessee.

                                   ARTICLE XII
                                   POSSESSIONS

     Possession of the Property shall be delivered to Lessee on the Closing Date
free and clear of all leases,  licenses or other agreements  granting any Person
the right to use or occupy all or any  portion  of the  Property.  Lessor  shall
afford  authorized  representatives  of Lessee reasonable access to the Property

                                       29
<PAGE>
for the  purposes  of  satisfying  Lessee with  respect to the  representations,
warranties,  and  covenants  of Lessor  contained  herein  and with  respect  to
satisfaction of any conditions precedent to the Closing contained herein.

                                  ARTICLE XIII
                      FIRE AND EXTENDED COVERAGE INSURANCE

     From and after the Substantial Completion Date or the date the Lessee takes
possession  of the Leased  Premises,  whichever  is  earlier,  the Lessee  shall
maintain, or cause to be maintained, in full force and effect, fire and extended
coverage  insurance  covering the Improvements in such amounts and covering such
risks as the Lessee  may  require  from time to time.  Such  insurance  shall be
carried  with  financially  responsible  insurance  companies  authorized  to do
business  in the  State of  Washington,  and may be  carried  under a policy  or
policies  covering other  property owned or controlled by Lessee,  or the Lessee
may be self-  insured.  The Lessee  shall  furnish  to Lessor,  on or before the
effective  date of any such policy or self  insurance,  and annually  thereafter
certificates of insurance evidencing that the insurance required by this Article
XBI are in force  and  effect  on the  specified  date  and  that  the  premiums
therefore  have been paid.  Lessee  agrees that such  policies  shall  contain a
provision that the same may not be cancelled  without at least thirty (30) days'
prior  written  notice  being  given by the  insurer  to  Lessor.  The amount of
insurance  maintained by Lessee in compliance with this Article XIII shall be in
such amounts as may be established by the Lessee from time to time. The proceeds
from any such insurance shall be paid to the Lessee.

                                   ARTICLE XIV
                                      LIENS

     The Lessee shall not create, incur, assume or suffer to exist any mortgage,
pledge,  lien,  charge,  encumbrance  or claim on or with  respect to the Leased
Premises. The Lessee shall promptly, at its own expense, take such action as may
be  necessary  to duly  discharge  or remove any such  mortgage,  pledge,  lien,
charge, and encumbrance or claim if the same shall arise at any time. The Lessee
shall  reimburse  the  Lessor  for any  expense  incurred  by Lessor  (including
reasonable  attorneys'  fees) to  discharge  or remove any such  Lessee-incurred
mortgage, pledge, lien, charge, encumbrance or claim.

                                   ARTICLE XV
              OPTIONS TO PREPAY LEASE AND PURCHASE LEASED PREMISES

     15.1 Option to Purchase.  Provided  that the Lessee is not in default under
this Lease  (including  payment of any Additional Rent then due and owing),  the
Lessee  shall  have the  option to  purchase  the Leased  Premises  and  thereby
terminate  this Lease at any time on or after  Substantial  Completion by giving
notice of its election to exercise its option and paying the Lease Payments. The
Lease  Payments  of the Leased  Premises  shall be an amount  equal to the total
outstanding  principal  amount of Lease  Payments  set forth on  Exhibit H, plus
interest accrued thereon to the date of prepayment at the applicable rate(s) set
forth on Exhibit H, plus an option exercise fee of one dollar ($1.00).

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<PAGE>
     15.2 Exercise of Option. The Lessee shall give Lessor not less than 90 days
prior  written  notice of its election to exercise its option to purchase  under
Section  15.1  hereof.  The  Lease  Payments  shall be paid in cash or  same-day
available funds by 10:00 a.m. Seattle time on the payment date specified in such
notice (or such other date as the Lessee and Lessor may mutually, agree).

     15.3  Conveyance of Leased  Premises.  On the payment date specified in the
notice of election to exercise purchase option, or such other date as the Lessee
and Lessor may mutually  agree,  Lessor shall convey the Leased  Premises to the
Lessee by  Statutory  Warranty  Deed,  and this Lease shall  terminate.  Nothing
herein shall be construed to require the Lessee to exercise the purchase  option
herein granted.

     15.4 Option to Partially  Prepay Lease. The Lessee shall have the option to
partially  prepay  the  principal  component  of the Lease  Payments,  in $5,000
increments,  in inverse order of  maturities  (as  represented  by the principal
portion of the Lease  Payments due each year as set forth in Exhibit H).  Notice
of such  intent to prepay  shall be given to the Lessor in writing not less than
90 days in advance of the intended  prepayment  date.  Such prepayment may be at
any time on or after the Substantial Completion Date. By 10:00 a.m. Seattle time
on the date set for such  prepayment,  the Lessee shall pay to Lessor in cash or
same-day  available  funds,  an amount equal to the  principal  portion of Lease
Payment to be prepaid,  together with interest thereon to the date of prepayment
Upon such prepayment,  the term of this Lease shall be deemed modified such that
this Lease terminates on the Lease Payment Date for the last  outstanding  Lease
Payment not prepaid.

     15.5 Option Not  Exercised.  If the Lessee does not  exercise  the purchase
option hereunder upon  termination of this Lease,  then, after giving the Lessee
ninety (90) days'  written  notice,  Lessor may sell the Leased  Premises to any
third party.  The proceeds from such sale, less the Lessor's costs in connection
with the sale, shall be distributed to the Lessee.

     15.6 Title to Real Property. At the Closing,  Lessor shall convey to Lessee
marketable and insurable fee simple title to the Real Property, by execution and
delivery of a Statutory  Warranty Deed to the Real Property in a form reasonably
acceptable  to Lessee (the  "Deed").  Evidence of  delivery  of  marketable  and
insurable fee simple title shall be the issuance by the Title Company of an ALTA
extended coverage Owner's Policy of Title Insurance (Form B, Rev. 10/17170) with
liability  in the  amount  of the  Purchase  Price or any  lesser  sum as may be
approved by Lessee,  in Lessee's sole discretion  (the "Title Policy")  insuring
fee simple title to the Real Property in Lessee,  subject only to (i) easements,
reservations,  restrictions and other matters referred to as special  exceptions
in the Owner's  Policy of Title  Insurance  approved by Lessee in writing;  (ii)
other exceptions created or suffered by Lessor following the Effective Date that
have been  approved by Lessee in  writing;  (iii)  utility  and other  easements
granted by Lessor  following  the  Effective  Date  required  for the use of the
Property as a regional events center facility; and (iv) any liens,  encumbrances
or defects  created or incurred by Lessee after the Effective Date (all of which
are referred to in this Agreement as 'Permitted  Exceptions").  The Title Policy
shall  include the following  endorsements:  (a) survey  endorsement  (WLTA form
116.1);  (b) access to public  right of way (WLTA form  103.7);  (c)  contiguity
(CLTA form 116.4);  (d)  environmental  liens (ALTA form 8.1); and (e) legal lot
endorsement  as to Property  constituting  validly  subdivided  legal lots.  The
indemnification  of the title Company by Lessor, or the Contractor to induce the

                                       31
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Title Company to insure over any otherwise unpermitted exceptions to title shall
not be  allowed  except  with the prior  written  consent  of Lessee in its sole
discretion  after full  disclosure  to Lessee of the nature and substance of the
unpermitted  exception and the nature of the  indemnity.  The Title Policy shall
provide full coverage against construction liens arising out of the construction
of the Public Facilities District Improvements on the Property.

     15.7 Title to Personal  Property and Intangible  Property.  At the Closing,
Lessor shall transfer title to the Personal Property free and clear of all liens
and encumbrances  whatsoever except for the Permitted  Exceptions and such liens
and encumbrances as Lessee may approve in writing by execution and delivery of a
warranty bill of sale in a form  reasonably  acceptable to Lessee.  Lessor shall
execute and delivery to Lessee any documents that Lessee may reasonably  request
in order to transfer to Lessee any intangible  personal property included in the
Property.

                                   ARTICLE XVI
                                     CLOSING

     16.1 Closing Procedures.

     (a) The Closing shall be held at the offices of Escrow  Agent.  The Closing
Date  shall be  within  (30)  days  following  Final  Completion  of the  Public
Facilities  District  Improvements.  Such date may not be  extended  without the
written approval of Lessor and Lessee except as otherwise  expressly provided in
this Agreement All documents  shall be deemed  delivered on the date the Deed is
recorded.

     (b) In the event the Closing does not occur on or before the Closing  Date,
Escrow Agent shall, unless it is notified by both parties to the contrary within
five (5) days after the Closing  Date,  return to the  depositor  thereof  items
which may have been  deposited  hereunder.  Any such return shall not,  however,
relieve  either  party  hereto  of any  liability  it may have for its  wrongful
failure to close.

     16.2  Delivery by Lessor.  On or prior to the Closing  Date,  Lessor  shall
deposit with Escrow Agent,  and shall deliver copies to Lessee to the extent not
previously delivered prior to the Closing, the following:

     (a)  Lessor  shall  execute  and  deliver  to Lessee a good and  sufficient
Statutory  Warranty Deed (the "Deed") to the Real  Property in  recordable  form
conveying  good and  marketable fee simple title free and clear of all liens and
encumbrances,  except for the  Permitted  Encumbrances,  and all  easements  and
rights appurtenant thereto;

     (b) A  certificate  from  the  Department  of  Licensing  of the  State  of
Washington  indicating  that,  as of a date not more than five (5) business days
prior to the Closing Date there are no filings  against  Lessor in the office of
the Uniform  Commercial Code division of the Department of Licensing which would
be a lien on any of the Property (other than such filings,  if any, as are being
released at the time of closing;

                                       32
<PAGE>
     (c) Lessor shall furnish to Lessee, at Lessee's sole cost and expense,  the
Title Policy;

     (d) Lessor shall deliver to Lessee the originals of all Permits,  licenses,
and approvals  necessary for the occupation,  use and operation of the Property,
including,  without  limitation,  the  building  permits  and a  certificate  of
occupancy  issued  by the  appropriate  governmental  authority  for the  Public
Facilities  District  Improvements.  In the event the original is required to be
posted on the Property, delivery of a duplicate shall be permitted;

     (e) Lessor  shall  deliver to Lessee the  originals of all  warranties  and
guarantees of contractors,  subcontractors,  suppliers and material-men received
by Lessor in connection with the construction or installation of the Project and
the acquisition of any equipment and Personal Property.  Lessor shall deliver to
Lessee  a  written  assignment  of such  warranties  and  guarantees,  in a form
reasonably  acceptable to Lessor and its counsel (hereinafter the "Assignment of
Warranties");

     (f) Lessor shall deliver to Lessee, at Lessor's expense,  a complete set of
final  engineering plans and  specifications  of the Public Facilities  District
Improvements;

     (g) [This provision intentionally left blank]

     (h) Lessor shall  provide a complete  inventory  of, and shall  transfer to
Lessee its  interest  in, any and all  personal  property  required  pursuant to
Construction  Documents, if any, to be located on the Real Property, by warranty
bill of sale in a form reasonably acceptable to Lessee and its counsel. The cost
of such personal property being transferred is included in the Purchase Price;

     (i) Lessor shall transfer to Lessee its interest in those Service Contracts
approved  by Lessee by  execution  and  delivery  of an  assignment  of  Service
Contracts;

     (j) Lessor shall execute and deliver to Lessee an affidavit which satisfies
the  requirements  of Section 1445 of the Unites  States  Internal  Revenue Code
regarding foreign investors;

     (k) Any  re-conveyance  documents  required  to  eliminate  of  record  the
Construction  Loan and any other  existing  deeds of trust  and  other  security
documents  which are a lien on the Real Property and any  affidavit  required to
eliminate the Title Company  exception for construction  liens and the rights of
parties in possession;

     (1) Confirmation of warranties made by Lessor in this Agreement;

     (m) Copies of books and records of Lessor  which  Lessee  would  require to
operate and maintain the Property (including  applicable  maintenance  records),
together with keys to all entrance doors to, equipment and utility rooms located
in the Property, which keys shall be properly tagged for identification;

                                       33
<PAGE>
     (n)  Such  resolutions,  authorizations,   certificates  or  other  limited
liability  documents or agreements  relating to Lessor or as shall be reasonably
required by Lessee or the Title Company in connection with this transaction;

     (o) Lessor shall duly execute (and  acknowledge if appropriate)  such other
documents as reasonably necessary to effectuate this transaction;

     (p)  Lessor  shall  deliver to Lessee all other  documents  required  to be
delivered  at or prior to the Closing  pursuant to the terms of this  Agreement,
and

     (q) An Affidavit of Prevailing Wages Paid verifying compliance with Section
5.9(d)

     16.3  Delivery  by Lessee.  On or before the  Closing  Date,  Lessee  shall
deposit with Escrow Agent the Purchase  Price (less any  adjustments  authorized
under this Agreement) and shall deposit the following:

     (a) Assignment of Service Contracts duly accepted by Lessee;

     (b) Confirmation of warranties made by Lessee;

     (c) Such resolutions,  authorizations,  certificates or other ordinances or
agreements  relating to Lessee or as shall be  reasonably  required by Lessor or
the Title Company in connection with this transaction;

     (d) Lessee shall duly execute (and  acknowledge if appropriate)  such other
documents reasonably necessary to effectuate this transaction; and

     (e)  Lessee  shall  deliver to Lessor all other  documents  required  to be
delivered by Lessee at or prior to the Closing pursuant to this Agreement.

     16.4 Pro-rations. All revenue and all expenses of the Property (other, than
real and personal property taxes),  including,  but not limited to rents, water,
sewer and utility charges,  amounts payable under Service Contracts which are to
be assumed by Lessee,  annul permits and/or  inspection fees  (calculated on the
basis of the respective  periods  covered  thereby) and other expenses normal to
the ownership,  use, operation and maintenance of the Property shall be prorated
as of the  Closing  Date.  Because  Lessee  is  exempt  from  property  tax,  no
prorations  of real and personal  property  taxes will be  required,  but Lessor
shall pay all real and personal  property  taxes for the Property for the period
up to and including the Closing Date.

     16.5 Costs and Expenses.  Lessee shall pay the premium for the Title Policy
and all real estate excise  taxes.  Lessee shall pay the cost to record the Deed
and any  sales or use tax  payable  in  connection  with any  personal  property
included  as part of the  Property.  The escrow  fees  shall be paid  equally by
Lessor and Lessee.

                                       34
<PAGE>
     16.6 Recordation. Provided that Escrow Agent has not received prior written
notice from either party than an agreement  of either party made  hereunder  has
not been performed, or to the effect that any condition set forth herein has not
been  fulfilled,  and  further  provided  that  Title  Company  has issued or is
unconditionally prepared and committed to issue to Lessee the Title Policy, then
Escrow Agent is authorized and instructed at 8:00 A.M.(or as soon  thereafter as
possible)  on the Closing  Date  pursuant  to joint  escrow  instructions  to be
executed by Lessee and Lessor to:

     (a) Record the Deed in the official records of Chelan County, Washington;

     (b) Assemble  and deliver at least one fully  executed  counterpart  of the
assignment of Service Contracts to both Lessee and Lessor;

     (c) Deliver all documents described in Section 16.2 to Lessee; and

     (d) Record any  re-conveyancing  documents  delivered by Lessor pursuant to
Section 16.2 hereof.

     16.7 Effect of Damage or Destruction of Property. If a material part of the
Public Facilities District Improvements has been damaged and not fully restored,
or replaced ( or, in the case of an unsubstantial loss or damage,  provision for
full  restoration  of  replacement  made) by the Closing Date,  the Closing Date
shall (i) be extended for the period of time  necessary for Lessor to repair and
restore the damaged portions of the Public Facilities District Improvements,  or
(ii) Lessee may elect to complete the Closing and shall  receive from Lessor all
insurance proceeds payable with respect to the damage. The determination of what
is a material part of the Public Facilities District  Improvements shall be made
by Lessee in its sole discretion.

                                  ARTICLE XVII
                         DESTRUCTION OF LEASED PREMISES

     In the event the Leased  Premises are damaged or destroyed by fire or other
casualty  following  the  Substantial  Completion  Date,  this  Lease  shall not
terminate nor shall there be any  abatement of the Lease  Payments or Additional
Rent otherwise payable by Lessee hereunder;  provided,  however, that the Lessee
may elect to defease or prepay the Lease  Payments in  accordance  with  Section
15.4 hereof.

                                  ARTICLE XVIII
                                DEFAULT; REMEDIES

     18.1  Corrective  Work.  In the event of a  material  default in or of this
Agreement  or  any  of  the  representations,   warranties,   terms,  covenants,
conditions  or  provisions  hereof by  Lessor,  which are not cured to  Lessee's
satisfaction  on the  Closing  Date,  Lessee may,  at its  election  and without
waiving  its rights  under the  Agreement,  elect to close the  purchase  of the
Property  and Lessee  shall  receive a credit  against the Lease  Payments in an
amount equal to one hundred  fifty percent  (150%) of the estimated  cost of the
Corrective  Work.  All other Closing  Procedures as set forth in this  Agreement

                                       35
<PAGE>
shall remain in full force and effect.  Upon completion of such Corrective Work,
Lessee shall promptly  furnish Lessor with a reasonably  detailed summary of the
actual  cost of the  Corrective  Work.  In the event that the actual cost of the
Corrective  Work is more than the  amount set forth in the  amount  credited  to
Lessee at Closing,  Lessor shall promptly pay to Lessee the  difference  between
the actual cost and the amount set forth in the estimate.  In the event that the
actual cost of the Corrective Work is less than the amount credited to Lessee at
Closing,  Lessee shall promptly pay to Lessor the difference between the amounts
credited  toward the payment of the Lease  Payments and the actual cost.  In the
event Lessee or Lessor,  as the case may be, does not pay to the other party the
total amount due and owing to -such party  pursuant to the foregoing  within ten
(10) days following  written demand  therefore from such other party, the unpaid
amount shall bear  interest at the rate of twelve  percent  (12%) per annum from
the date of the  written  demand  therefore  until  the date of  actual  receipt
thereof by the party to whom such amount is owed.

     18.2 Specific Performance.  In the event of a material breach or default in
or  of  this  Agreement  or  any  of  the  representations,  warranties,  terms,
covenants,  conditions  or  provisions  hereof by Lessor,  Lessee shall have, in
addition to a claim for damages for such breach or default,  and in addition and
without prejudice to any other right or remedy available under this Agreement or
at law or in equity,  the right to demand and have specific  performance of this
Agreement.

     18.3 Waiver.  No delay in exercising any right or remedy shall constitute a
waiver thereof,  and no waiver by Lessor or Lessee of the breach of any covenant
of this Agreement  shall be construed as a waiver of any preceding or succeeding
breach of the same or any other covenant or condition of this Agreement.

                                   ARTICLE XIX
                                  MISCELLANEOUS

     19.1 Incorporation of Recitals;  Definitions.  Each recital set forth above
is  incorporated  into this  Agreement  as though  fully set forth  herein.  All
capitalized terms not otherwise defined herein shall have the meanings set forth
in Article I of this Agreement.

     19.2 Notices. All notices, demands, requests,  consents and approvals which
may,  or are  required  to, be given by any party to any other  party  hereunder
shall be in writing and shall be deemed given when (a) personally delivered, (b)
given by machine-confirmed facsimile, or (c) after placement in the U.S. mail as
certified or registered, return receipt requested,  first-class postage prepaid,
the receipt indicates delivery or refusal or failure to accept delivery:

     Lessor:    Wenatchee Events Center, LLC
                4909 East McDowell Road, Suite 104
                Phoenix, AZ 85008
                Attention: Rick Kozuback
                Telephone: (480) 994-0772
                Facsimile: (480) 949-8616

                                       36
<PAGE>
     Lessee:    Greater Wenatchee Regional Events Center
                Public Facilities District 129 South Chelan
                Wenatchee, WA 98801
                Attention: Allison Williams
                Telephone: (509) 664-3304
                Facsimile: (509) 664-3335

     Obligor:   City of Wenatchee
                129 South Chelan
                Wenatchee, WA 98801
                Attention: Allison Williams
                Telephone: (509) 664-3304
                Facsimile: (509) 664-3335

or to such other  addresses as either  party may from time to time  designate in
writing and deliver in a like manner. All notices shall be deemed to be complete
upon actual receipt or refusal to accept delivery. Facsimile transmission of any
signed original document and retransmission of any signed facsimile transmission
shall be the same as delivery of an original document.  At the request of either
party, the parties will confirm facsimile  transmitted  signatures by signing an
original  document All notices required to be provided to Lessee or Lessor shall
be provided to the City of Wenatchee.

     19.3 Amendment. Waiver Assignment No modification, termination or amendment
of this Agreement may be made except by written agreement or as otherwise may be
provided  in this  Agreement.  No failure by Lessor or Lessee to insist upon the
strict  performance  of any  covenant,  duty,  agreement,  or  condition of this
Agreement or to exercise any right or remedy  consequent  upon a breach  thereof
shall  constitute a waiver of any such breach or of such or any other  covenant,
agreement,  term or condition. Any party hereto, by notice and only by notice as
provided in Section 18.2 hereof, may, but shall be under no obligation to, waive
any of its rights or any conditions to its obligations  hereunder,  or any duty,
obligation  or covenant of any other party  hereto.  No waiver  shall  affect or
alter this Agreement, and each and every covenant, agreement, term and condition
of this  Agreement  shall  continue in full force and effect with respect to any
other then existing or subsequent breach thereof. All the terms,  provisions and
conditions  of this  Agreement  shall  continue  in full force and  effect  with
respect to any other then existing or subsequent breach thereof.  All the terms,
provisions and conditions of this Agreement shall inure to the benefit of and be
enforceable by Lessor's or Lessee's respective  successors and. assigns,  except
that Lessor's  interest under this Agreement may not be assigned,  encumbered or
otherwise transferred,  whether voluntarily,  involuntarily, by operation of law
or otherwise,  without the prior written consent of Lessee,  which consent shall
not be unreasonably withheld.

     Notwithstanding  the prior  paragraph,  Lessor may  assign  this Lease to a
bathes trust  department or nonprofit  financing  entity for purposes of issuing
certificates of participation secured by the Lease Payments and Lessee expressly
agrees that Lessor may assign Lease Payments and Additional Rent payments to the
Construction Lender or any other lender financial institution in connection with
the construction loan to Lessor. Lessor shall give the City no less than 10 days

                                       37
<PAGE>
notice of its  intent to assign  this  Lease.  The City shall  cooperate  in the
issuance of the Sales Tax.  Sales Tax means the sales and use tax imposed by the
District  pursuant to Resolution  No.  2006-02,  adopted by the Board on 7/5106,
pursuant to RCW 82.14.390. Sales Tax Revenue means the money received by the PFD
from the Washington State Department of Revenue on account of the Sales Tax.

     19.4  Lessee's  Disclaimer.  Notwithstanding  any other  provision  of this
Agreement  to the  contrary,  Lessee  is under no  obligation  to  construct  or
supervise  construction  of the  Project  or the  installation  of any  Personal
Property.  It is understood and agreed that Lessee's rights under this Agreement
are for the sole  purpose of  protecting  its interest as contract  vendee.  The
approval  of any  Construction  Drawings,  Detailed  Specifications  or Contract
Documents,  construction agreements, or service contracts shall not be construed
by  Lessor  as a  guaranty  of  sufficiency  of the work and  shall  not  excuse
performance of any Lessor's  obligation  during the Warranty  Periods.  Lessee's
right of  inspection  as provided in this  Agreement  shall not  constitute  any
representation or warranty, expressed or implied, or any obligation of Lessee to
insure  that  work  or  materials   are  in   compliance   with  the  Plans  and
Specifications or any building  requirements  imposed by a governmental  agency.
Lessee is not  responsible  to the Contractor or any other third parties for any
purpose whatsoever.

     19.5 Survival.  All provisions of this Agreement which involve obligations,
duties or rights which have not been determined or ascertained as of the Closing
Date or the  recording  of the  Deed  and all  representations,  warranties  and
indemnifications  made in or to be made  pursuant  to this  Agreement  shall  be
deemed to survive the Closing Date and/or the recording of the Deed and shall be
enforceable in accordance with their terms.

     19.6  Captions.  The captions of this  Agreement  are for  convenience  and
reference  only and in no way define,  limit or describe  the scope or intent of
this Agreement

     19.7 Brokerage Fees. Each party  represents to the other that no broker has
been  involved in this  transaction.  In the event of a claim for broker's  fee,
finder's fee, commission or other similar  compensation in connection  herewith,
Lessor,  if such claim is based upon any agreement  alleged to have been made by
Lessor,  hereby agrees to indemnify Lessee against and hold Lessee harmless from
any and all damages, liabilities, costs, expenses and losses (including, without
limitation,  reasonable  attorneys'  fees and costs) which Lessee may sustain or
incur by  reason of such  claim  and  Lessee,  if such  claim is based  upon any
agreement alleged to have been made by Lessee, hereby agrees to indemnify Lessor
against and hold Lessor  harmless from any and all damages,  liabilities,  costs
and expenses  (including,  without  limitation,  reasonable  attorneys' fees and
costs) which Lessor may sustain or incur by reason of such claim. The provisions
of this  Section 19.7 shall  survive the  termination  of this  Agreement or the
recording of the Deed to the Property.

     19.8 Joint  Venture.  It is not intended by this  Agreement to, and nothing
contained in this  Agreement  shall,  create any  partnership,  joint venture or
other  arrangement  between  Lessee o and Lessor.  No term or  provision of this
Agreement  is intended to be, or shall be, for the benefit of any person,  firm,
organization or corporation not a party hereto, and no such other person,  firm,
organization or corporation shall have any right or cause of action hereunder.

                                       38
<PAGE>
     19.9 Severability.  If any provision  contained in this Agreement shall for
any reason be held to be invalid,  illegal or  unenforceable in any respect such
invalidity,  illegality or unenforceability shall not affect any other provision
hereof,  and this  Agreement  shall be construed as if such invalid,  illegal or
unenforceable provisions had never been contained herein.

     19.10 Further Assurances,  Each party hereto agrees that it will execute or
furnish  such  documents  and  further  assurances  to the  other  or to  proper
authorities as may be necessary for the full  implementation and consummation of
this Agreement and the transactions contemplated hereby.

     19.11 Merger of Prior  Agreements.  This Agreement and the exhibits  hereto
constitute  the  entire  agreements  between  the  parties  with  respect to the
purchase and sale of the Property and supersedes  all prior and  contemporaneous
agreements and understandings between the parties hereto relating to the subject
matter hereof.

     19.12  Fair  Construction.  The  provisions  of  this  Agreement  shall  be
construed  as a whole  according  to their  common  meaning not  strictly for or
against any party and consistent with the provisions  contained  herein in order
to achieve the objectives and purposes of this Agreement.  Each party hereto and
its counsel has reviewed and revised this  Agreement  and agrees that the normal
rules of  construction  to the effect  that any  ambiguities  are to be resolved
against the drafting party shall not be employed in the  interpretation  of this
Agreement.

     19.13 Authority.  The persons signing below represent and warrant that they
have the requisite authority to bind the party on whose behalf they are signing.

     19.14 Time is of the Essence.  For the purposes of this  Agreement  and all
transactions contemplated hereunder, time is of the essence.

     19.15  Arbitration.  In the  event a dispute  arises  between  the  parties
regarding  this  agreement,  either party (First  Party) may submit the issue to
arbitration  by selecting an  arbitrator  and  notifying the other party (Second
Party) of the selection.  The Second Party shall either approve such  arbitrator
and proceed to arbitration or select an alternate arbitrator. Second Party shall
notify the First Party of such acceptance or selection  within seven days of the
first notification. Upon receiving notification of the selection of an alternate
arbitrator,  the First Party shall then  approve the  arbitrator  and proceed to
arbitration or reject the alternate arbitrator.  First Party shall notify Second
Party of such  approval or rejection  within seven days of receipt of the notice
from Second party. In the case of Rejection,  the first two selected arbitrators
shall  select a third  arbitrator.  The third  arbitrator  shall  arbitrate  the
dispute.  The arbitrators  shall be familiar with the  construction  industry in
Washington  State.  The arbitrator shall not be related to either party by blood
or marriage to a principal  or owner of either  party and shall have no economic
interest direct or indirect with either party. The arbitration  shall take place
within  thirty  days after  selection  of the  arbitrator.  The  decision of the
arbitrator  shall be made within 14 days after the arbitrator has been named and
shall be binding upon the parties.  The parties  shall share equally in the cost
of the arbitrator.

     19.16  Non-Waiver  of  Governmental  Rights.   Nothing  contained  in  this
Agreement  shall require  Lessee to take any  discretionary  action  relating to

                                       39
<PAGE>
development  of  improvements  to be  constructed on the Property as part of the
Project,  including,  but not limited to; environmental  review, zoning and land
use approvals, approval of applications to vacate public streets, permitting, or
any other governmental approvals.

     19.17 Agreement for Exclusive Benefit of Lessor and Lessee.  The provisions
of this  Agreement are for the exclusive  benefit of Lessor and Lessee and their
respective permitted successors and assigns and not for the benefit of any other
Person. This Agreement shall not be deemed to have conferred any rights upon any
other Person.

     19.18  Interest on  Past-Due  Obligations.  Any amount due to either  party
hereunder which is not paid when due shall bear interest from the date due until
paid at a rate equal to twelve percent (12%) per annum.

     19.19  Governing  Law. This  Agreement and the rights of the parties hereto
shall be governed by and construed in  accordance  with the laws of the State of
Washington.  In the event any action is brought to enforce any of the provisions
of this  Agreement,  the parties  agree to be subject to  exclusive  in personam
jurisdiction in the Chelan County Superior Court for the State of Washington and
agree  that in any  such  action  venue  shall  lie  exclusively  at  Wenatchee,
Washington.

     19.20  Memorandum  of  Agreement.  Lessor shall  execute,  acknowledge  and
deliver to Lessee,  simultaneous with the execution hereof, a memorandum of this
Agreement,  which shall,  at Lessee's  option,  be recorded in the real property
records of Chelan County, Washington, at any time after the Effective Date.

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

"LESSEE"

GREATER WENATCHEE REGIONAL
EVENTS CENTER PUBLIC FACILITIES
DISTRICT, a Washington municipal
Corporation

By: /s/ Joe Jarvis
   -------------------------------------
   Joe Jarvis, Board President

"LESSOR"

WENATCHEE EVENTS CENTER, LLC
a Washington limited Liability Company

By: /s/ Rick Kozuback
   -------------------------------------
   Global Entertainment Corporation, as
   executed by its President, Rick Kozuback,
   The managing Member of Wenatchee
   Events Center, LLC

"OBLIGOR"

CITY OF WENATCHEE, a Washington
municipal corporation

By: /s/ Dennis Johnson
   -------------------------------------
   Dennis Johnson, Mayor

                                       40Exhibit 10.10

                     [LOGO OF MILLER CAPITAL MARKETS, LLC]

December 14, 2007

STRICTLY CONFIDENTIAL

Global Entertainment Corporation
4909 East McDowell Road, Suite 104
Phoenix, Arizona 85008-4293

Attention: Rick Kozuback
           President and Chief Executive Officer

Dear Rick:

We are pleased to confirm the  arrangements  under which Miller Capital Markets,
LLC ("MCM"),  a registered  broker/dealer and a member of the Financial Industry
Regulatory   Authority,   is   engaged  by  Global   Entertainment   Corporation
(collectively with its subsidiaries and affiliates, the "Company") to act as its
exclusive  investment  banker  in  connection  with  any  potential  Acquisition
Transaction  (as defined  below)  between  the  Company and any other  person or
entity and as its exclusive  investment banker and placement agent in connection
with any  prospective  Financing  Transaction  (as defined below)  involving the
Company.  For purposes of this letter  agreement (this  "Agreement"),  the terms
Acquisition  Transaction and Financing  Transaction  are sometimes  collectively
referred to as a "Transaction."

     Section 1. Investment Banking Services.  During the term of this Agreement,
MCM will,  as the  Company's  investment  banker,  undertake  one or more of the
following activities as requested from time to time by the Company:

     (a)  Advise on  strategic  rationale,  transaction  structure  and  pricing
          parameters for any Transaction;

     (b)  Familiarize  itself with the  financial  condition and business of the
          Company  and, to the extent  necessary,  any  prospective  acquisition
          target or purchaser;

     (c)  Conduct a due-diligence  review and financial  analysis of the Company
          including  (without  limitation)  the review or preparation of various
          financial analysis reports and business  operations reports to be used
          in conjunction with a Company prepared private placement memorandum or
          other  memorandum  distributed  to third  parties  with  respect  to a
          Transaction;

     (d)  Advise and assist the  Company in  identifying  and  contacting  third
          parties (including prospective acquisition targets,  purchasers and/or
          financing   sources)  to  ascertain   their  interest  in  pursuing  a
          Transaction;

     (e)  Advise and manage the process relating to any Acquisition Transaction;
<PAGE>
Global Entertainment Corporation
December 14, 2007
Page 2

     (f)  Advise and manage the process  relating to any  Financial  Transaction
          including  contact  and  negotiations  with any  potential  investors,
          co-underwriters and participating broker/dealers; and

     (g)  Advise  and  manage  the  process  related  to  any  potential  public
          offering,  including  contact and negotiations  with any underwriters,
          placement agents and other relevant parties.

     The Company  acknowledges that all advice (written or oral) given by MCM to
the Company is intended solely for the benefit and use of the Company (including
its management, directors or attorneys). Other than as may be required by law or
regulation,  no  advice  (written  or  oral)  of MCM  hereunder  shall  be used,
reproduced,  disseminated,  quoted or referred to at any time, in any manner, or
for any purpose,  nor shall any public  references to MCM be made by the Company
(or its management,  directors or attorneys),  without the prior written consent
by MCM, which consent shall not be unreasonably withheld.

     MCM is engaged in providing  investment banking services and certain of its
affiliates  are engaged in providing  financial  advisory,  consulting and other
services.  Nothing in this Agreement shall be construed to prohibit or limit the
ability of MCM or its  affiliates  from  pursuing,  investigating,  analyzing or
engaging  in  investment   banking,   financial   advisory  and  other  business
relationships  with entities other than the Company,  notwithstanding  that such
entities  may be engaged in lines of business  which are similar to those of the
Company, and notwithstanding that such entities may have customers, or potential
customers,  similar or identical to those of the  Company,  and  notwithstanding
that such entities may have been  identified by the Company as potential  merger
or  acquisition  targets  or  potential   candidates  for  some  other  business
combination,  cooperation or  relationship or that such entities and the Company
may have  identified  one or more common  third-parties  as potential  merger or
acquisition targets or potential candidates for some other business combination,
cooperation or relationship.

     Section 2. Certain Responsibilities,  Representations and Warranties of the
Company. In connection with MCM's engagement,  the Company will furnish MCM with
all  information  concerning the Company that MCM  reasonably  requests and will
provide MCM with access to the Company's  officers,  directors  and  controlling
shareholders.  MCM will  have  access  to the  Company's  legal  and  accounting
professionals  and, with prior  approval  from the Company,  may utilize its own
outside legal counsel and accounting professionals at the Company's expense. The
Company  represents  and warrants to MCM that:  (a) all such  information is and
will be true and  accurate in all  material  respects  and does not and will not
contain any untrue statement of a material fact or omit to state a material fact
necessary in order to make the  statements  made, in light of the  circumstances
under which they were made,  not  misleading;  and (b) any  projected  financial
information or other  forward-looking  information which the Company provides to
MCM (including  without  limitation any  information  compiled by MCM therefrom)
will be made by the Company in good faith,  based on management's best estimates
then available and based on facts and assumptions  which the Company believes to
be reasonable. The Company recognizes the necessity of promptly notifying MCM of
all material developments concerning the Company, its business and prospects and
to supply MCM with all such  information  as may be necessary  for MCM to comply
with  its  own  internal   procedures   as  well  as  any  legal  or  regulatory
requirements.  The  Company  acknowledges  and agrees that MCM will be using and
relying upon all  information  supplied by the Company and its officers,  agents
and others and any other publicly available  information  concerning the Company
without any independent  investigation  or  verification  thereof or independent
appraisal by MCM of the Company or its business or assets.

     Section 3. Compensation.  The fees payable to MCM for the services provided
hereunder shall consist of a fee (the "Success Fee") determined as follows:
<PAGE>
Global Entertainment Corporation
December 14, 2007
Page 3

     (a)  With  respect to any  transaction  or series of  related  transactions
          involving  (i) any  merger,  consolidation,  joint  venture  or  other
          business  combination pursuant to which the business of the Company is
          combined  with that of another  entity,  (ii) the  acquisition  by any
          person or entity, directly or indirectly, of a majority of the capital
          stock of the  Company,  by way of a  negotiated  purchase or any other
          means,  (iii) the acquisition by the Company,  directly or indirectly,
          of a majority of the capital stock of any other business or entity, by
          way of a negotiated  purchase or any other means, (iv) the acquisition
          by any person or entity, directly or indirectly,  of a majority of the
          assets,  properties and/or business of the Company, by way of a direct
          or indirect purchase, lease, license, exchange, joint venture or other
          means, (v) the acquisition by the Company,  directly or indirectly, of
          a majority  of the  assets,  properties  and/or  business of any other
          person or  entity,  by way of a direct or  indirect  purchase,  lease,
          license,  exchange,  joint  venture or other means  (collectively,  an
          "Acquisition  Transaction"),  the Success Fee shall be an amount equal
          to:

          5% of the Consideration from $1 and up to $3,000,000, plus
          4% of the  Consideration in excess of $3,000,000 and up to $6,000,000,
          plus
          3% of the  Consideration in excess of $6,000,000 and up to $9,000,000,
          plus
          2% of the Consideration in excess of $9,000,000 and up to $12,000,000,
          plus
          1% of the Consideration in excess of $12,000,000.

          With respect to any Acquisition Transaction,  the term "Consideration"
          shall mean the total amount of cash and the fair market value of other
          property paid or payable (including amounts paid into escrow) by or to
          the seller and/or its  shareholders  in connection with an Acquisition
          Transaction,   including   amounts  paid  or  payable  in  respect  of
          convertible  securities,  options  or similar  rights,  whether or not
          vested,  plus,  without  duplication,  the  principal  amount  of  all
          indebtedness  for  borrowed  money  (including   capitalized   leases)
          outstanding  immediately  prior  to  consummation  of the  Acquisition
          Transaction or, the case of a purchase of assets, all indebtedness for
          borrowed  money  assumed  by  the  purchaser  and,  in any  case,  any
          indebtedness   for  borrowed  money  and  any  capital  leases  and/or
          preferred  stock  obligations  retired or defeased by the purchaser or
          issued to the seller and/or its  shareholders  in connection with such
          Acquisition Transaction.

     (b)  With  respect to any private  placement  of equity,  equity-linked  or
          convertible  debt  securities  the  Success  Fee  shall  be 10% of the
          Consideration. With respect to any private placement of any secured or
          unsecured senior or subordinated  indebtedness or credit facilities or
          similar  private  arrangement  with a lender  (excluding  bank  loans,
          credit lines and arena financing in the normal course of business) the
          Success Fee shall be an amount equal to 4% of the Consideration.  With
          respect to any pubic offering of securities the Success Fee shall be a
          percentage based on the amount of Consideration, as follows:

          If Consideration is                  then the Success Fee shall be
          -------------------                  -----------------------------
          $10,000,000 or less                  2.75% of the Consideration
          $10,000,001 to $20,000,000           2.25% of the Consideration
          $20,000,001 to $30,000,000           1.75% of the Consideration
          greater than $30,000,000             1.25% of the Consideration
<PAGE>
Global Entertainment Corporation
December 14, 2007
Page 4

          All such private  placements  (excluding bank loans,  credit lines and
          arena  financing in the normal course of business) and public offering
          transactions  shall  collectively  be referred to herein as "Financing
          Transactions"  and the Success Fee shall be calculated with respect to
          each separate Financing Transaction.

          With respect to any Financing  Transaction,  the term  "Consideration"
          shall mean the gross proceeds  received by or on behalf of the Company
          or its  shareholders  from the  sale of any  equity  or  equity-linked
          investment,  debt  or  other  instrument  of  indebtedness  (including
          refinancings of existing debt), securities, contractual rights and any
          and all other things of value and other consideration, and hybrids and
          combination thereof.

          With respect to any Financing Transaction, MCM shall have the right to
          be  granted a warrant  (the  "Warrant")  to  purchase  shares or units
          equivalent  to 10% of the shares or units issued as part of any equity
          or  equity-linked  securities  transaction by the Company  wherein MCM
          provided  services  under this  Agreement.  The Warrant price shall be
          $0.01 per share or unit and the exercise  price shall be equal to 110%
          of the  per  share  or  unit  value  of the  equity  or  equity-linked
          securities  issued.  Such Warrant will  include  (without  limitation)
          priority  piggyback   registration   rights  for  MCM  on  any  future
          registration  statement  filings by the Company,  and will expire five
          (5)  years  from  the date of the  effective  date of such  equity  or
          equity-linked offering.

     (c)  With respect to any transaction, other than an Acquisition Transaction
          or a  Financing  Transaction,  that  the  Company  completes  with the
          assistance  of MCM,  the Company and MCM will  negotiate in good faith
          appropriate  compensation for MCM, which will take into account, among
          other things,  the results  obtained and the custom and practice among
          investment bankers acting in similar transactions.

     (d)  MCM will be  entitled to receive the  compensation  provided  for in 3
          (a), (b) and (c) above if a Transaction is consummated or an agreement
          is entered into during the term of this Agreement  which  subsequently
          results in a consummated Transaction during the term of this Agreement
          or at any time within  twenty-four  (24) months  after  expiration  or
          termination of this Agreement for any reason.

     (e)  If the  Consideration  of a  Transaction  is  subject to  increase  by
          contingent  payments  related  to future  events,  the  portion of the
          Success Fee related thereto shall be payable as and when such payments
          are made.

     (f)  For  purposes of  determining  the fair market  value of any  non-cash
          Consideration,  such  determination  shall be made on the business day
          preceding the closing of the  Transaction,  except that if any part of
          the Consideration in an Acquisition Transaction consists of marketable
          securities,  for purposes of determining  the amount of  Consideration
          the value of those securities shall be determined by using the average
          of the last  sale  prices  for those  securities  on the  thirty  (30)
          trading  days ending the last  business day  preceding  the closing of
          such Acquisition Transaction.

     (g)  The Company shall cause the definitive  transaction documents to which
          it is a party in any Transaction covered hereby to contain a condition
          precedent  to the  closing  of such  Transaction  that  the  fees  and
          expenses  payable to MCM hereunder shall be paid at the closing of any
          such Transaction in the manner specified in Section 5 herein.
<PAGE>
Global Entertainment Corporation
December 14, 2007
Page 5

     Section 4. Expenses.  In addition to fees for  professional  services,  the
Company  agrees  to  reimburse  MCM  for,  and MCM  will  separately  bill,  all
reasonable expenses as incurred,  including travel costs,  document  production,
mailings and other similar expenses, and reasonable fees and expenses of counsel
and other professional advisors; provided, that all out-of-town travel, fees and
expenses of counsel,  third-party consultant fees and other significant expenses
exceeding  $1,000 will be subject to the prior  approval of the  Company,  which
approval  shall  not be  unreasonably  withheld.  Reimbursable  travel  expenses
hereunder  shall  include  first-class  air travel for the  Chairman and CEO and
coach air travel for other MCM representatives.  All amounts billed by MCM under
this Section 4 shall be paid within 15-days following the date invoiced by MCM.

     Section  5.  Payments.   All  amounts  payable  under  this  Agreement  are
nonrefundable, shall be paid when due and shall be paid in immediately available
funds in U.S. dollars, without setoff and without deduction for any withholding,
value-added or other similar taxes, charges or fees.

     Section 6. Term. This Agreement will be effective on February 14, 2008 (the
"Effective  Date") and will expire on the date twenty four (24) months after the
Effective  Date; and provided,  that the expiration of this Agreement  shall not
relieve  the  Company of any  obligation  to MCM for  amounts  earned or accrued
hereunder through the expiration date.

     Section 7. Right of First  Refusal.  If at any time within twenty four (24)
months  following  the  successful  closing  of  a  Financing  Transaction,   as
contemplated under this Agreement, the Company desires to commence any Financing
Transaction,  MCM shall have the right of first  refusal to act as the Company's
investment  banker and, in such  capacity,  to arrange for  placement  agents or
underwriters,   as  the  case  may  be,  with  respect  to  any  such  Financing
Transaction.  If the Company  decides to pursue any such  Financing  Transaction
within such  timeframe,  and MCM exercises  its right of first refusal  provided
hereunder,  the Company and MCM will enter into an agreement  appropriate to the
circumstances.

     Section 8.  Qualified  Prospects.  If at any time  within  twenty four (24)
months  following  the  expiration  of this  Agreement  the  Company  closes  an
Acquisition Transaction,  directly or indirectly, with any person or entity that
was  contacted  by MCM in  connection  with  pursuing a  Transaction  under this
Agreement  (such  person  or  entity  hereinafter  referred  to as a  "Qualified
Prospect")  then the Company shall be obligated to pay MCM a fee at the close of
such transaction equal in amount to the Success Fee formula that would have been
otherwise  applied to the  Consideration  of an Acquisition  Transaction  closed
under this Agreement.  Within fifteen (15) days following the expiration of this
Agreement,  MCM shall  provide  the  Company a  complete  list of all  Qualified
Prospects.

     Section 9.  Assignment and Transfer of  Obligations.  In the event that the
Company  transfers or otherwise  conveys all or substantially  all of its assets
(including  without  limitation  the assets of its  subsidiaries)  or grants the
authority to operate all or any portion of its business or affiliated businesses
to any person or entity (a "Successor Party"), all of the Company's  obligations
under this Agreement  will be binding upon such Successor  Party and the Company
will not enter into or create an agreement, undertaking or legal obligation with
a Successor  Party without first  requiring such  Successor  Party to accept and
satisfy  in  full  all  of  the  Company's  obligations  under  this  Agreement.
Notwithstanding  anything  to the  contrary  contained  in this  Section 9, this
Section  9  shall  not be  applicable  and  will be of no  force  or  effect  if
compliance  with this  Section 9 would  result  in the  violation  of any law or
statute,  the breach of any  pre-existing  agreement to which the Company or its
affiliates is a party,  or the inability of the Company to operate in accordance
with its usual and customary practices.
<PAGE>
Global Entertainment Corporation
December 14, 2007
Page 6

     Section 10. Indemnification.  Because MCM will be acting for the benefit of
the Company in connection with this engagement,  the Company agrees to indemnify
MCM and certain other persons,  as set forth in the  indemnification  provisions
attached hereto as Exhibit A, the provisions of which are incorporated herein in
their entirety.

     Section 11.  Advertisements.  Upon completion of a Transaction,  MCM may in
its discretion  place  advertisements  in such and other  publications and media
describing  its services to the Company  hereunder.  The Company  further agrees
that any press  release it may issue  announcing  a  Transaction  will contain a
reference to MCM's role as investment  banker to the Company in connection  with
such  Transaction,  and that MCM shall have the right to review and  pre-approve
any reference to it or its role as investment banker under this Agreement in any
public  statement  made by the Company  (such  approval  not to be  unreasonably
withheld).

     Section 12. Company Covenant re MCM Employees.  The Company recognizes that
client  service  officers and other  employees of MCM and  affiliates of MCM are
necessary  for  the  continued   servicing  by  MCC  of  its  several   clients.
Accordingly,  the Company will not, during the term of this Agreement, and for a
period of two years after its  termination,  employ any client service  officer,
account  executive  or  other  employee  of  MCM  and  affiliates  of MCM in any
capacity.

     Section 13. Notices. All notices and other written communications  required
to be given under this Agreement shall be in writing and shall be deemed to have
been duly given if delivered to the  addressee in person or mailed by registered
or certified mail, return receipt requested, to the following addresses:

     If to MCM                Miller Capital Markets, LLC
                              4909 East McDowell Road
                              Phoenix, Arizona 85008-4293
                              Attention: J. Andrew Moorer
                                         President

     If to the Company:       Global Entertainment Corporation
                              4909 East McDowell Road, Suite 104
                              Phoenix, Arizona 85008-4293
                              Attention: Rick Kozuback
                                         President and Chief Executive Officer

Either  party may change the address at which notice is to be given by notifying
the other party in writing.  Notices shall be deemed delivered upon delivery, if
personally delivered,  or, if mailed, three (3) days after deposit in the United
States mail.

     Section  14.  Applicable  Law.  The  validity  and  interpretation  of this
Agreement shall be governed by the laws of the State of Arizona,  without giving
effect  to the State of  Arizona's  choice of law  principles,  and all  actions
arising under this Agreement or arising out of the operative  facts  represented
by services performed pursuant to this Agreement shall be resolved in the courts
of the State of Arizona.

     Section 15. Assignment.  The benefits of this Agreement  (including without
limitation the indemnification  provisions hereof) shall inure to the respective
successors and permitted  assigns of the parties  hereto and of the  indemnified
parties under such  indemnification  agreement and their respective  successors,
permitted  assigns and  representatives,  and the  obligations  and  liabilities
<PAGE>
Global Entertainment Corporation
December 14, 2007
Page 7

assumed in this  Agreement  by the parties  hereto  shall be binding  upon their
respective   successors   and   assigns.   This   Agreement   and  the   related
indemnification  agreement may not be assigned without the prior written consent
of the non-assigning party.

     Section 16. Other Agreements.  The Company further  represents and warrants
to MCM that (i) the  Company  has taken no action  that would give any  brokers,
representatives, finders or other persons an interest in the compensation due to
MCM in connection with any transaction  contemplated  hereby,  (ii) there are no
other investment  bankers,  financial advisors or similar persons other than MCM
and its  affiliates  entitled  to  receive  compensation  from  the  Company  in
connection  with any  transaction  contemplated  hereby and (iii) this Agreement
does not  violate  or  constitute  a  breach  or  default  under  any  contract,
agreement,  arrangement or understanding,  whether written or oral, to which the
Company or any of its  subsidiaries  is a party or by which its or their  assets
are bound.

     Section 17.  Entire  Agreement.  This  Agreement  constitutes  the full and
entire  understanding  and  agreement  between  the  parties  with regard to the
subject hereof and that no  understandings  or agreements,  verbal or otherwise,
exist between the parties except as set forth in this Agreement.

     Section 18. Amendment. This Agreement may not be amended or modified except
in a writing duly executed by both MCM and the Company.

     Section  19.  Severability.  In the  event  any term or  provision  of this
Agreement  is declared to be invalid or illegal for any reason,  this  Agreement
shall  remain in full  force and effect  and the same  shall be  interpreted  as
though such invalid and illegal provision were not a part hereof.  The remaining
provisions  shall be  construed  to  preserve  the  intent  and  purpose of this
Agreement and the parties shall negotiate in good faith to modify the provisions
held to be invalid or illegal to  preserve  each  party's  anticipated  benefits
thereunder.

     Section 20. Titles and  Subtitles.  The titles of sections,  paragraphs and
clauses of this  Agreement are for  convenience of reference only and are not to
be considered in construing this Agreement.

     Section 21.  Delays or  Omissions.  No delay or  omission  to exercise  any
right,  power or remedy accruing to any party shall impair any such right, power
or remedy of such party,  nor shall it be construed to be a waiver of any breach
or default under this Agreement,  or an acquiescence  therein, or in any similar
breach or  default  thereafter  occurring;  nor shall any delay or  omission  to
exercise  any  right,  power or remedy or any  waiver  of any  single  breach or
default  be  deemed a waiver of any  other  right,  power or remedy or breach or
default theretofore or thereafter occurring.

     Section 22.  Purpose of Agreement.  The purpose of this Agreement is to set
forth the  services  that MCM will  provide to the  Company,  as an  independent
contractor,  either as specifically provided herein or as subsequently requested
by the Company and agreed to in writing by MCM. The parties hereto do not intend
to create  any  special,  fiduciary  or agency  relationship  between  them.  In
addition, the exclusivity of the relationship between MCM and the Company refers
to the fact that the services to be provided by MCM hereunder are to be provided
solely by MCM and that the fees to be paid by the Company  hereunder  are solely
for the benefit of MCM.  There may be other  services  which are  required to be
provided to the Company in connection with any transaction  contemplated by this
Agreement  and which will be provided by other  parties  (e.g.,  legal  council,
independent  auditors or  appraisers),  which other parties would be engaged and
compensated by the Company.  Furthermore, the parties hereto understand that MCM
is not required to purchase any securities,  and that MCM's engagement hereunder
does not ensure the successful  negotiation or consummation of any  Transaction.
This  Agreement  is solely  for the  benefit of MCM and the  Company  and is not
<PAGE>
Global Entertainment Corporation
December 14, 2007
Page 8

intended  to create  rights or  obligations  of either  party for the benefit of
third parties, including without limitation the creditors of the Company.

     Section 23. Confidentiality.  Information provided by the Company to MCM in
connection with this Agreement that is identified by the Company as confidential
will be kept  confidential  and  will  only be used by MCM for  purposes  of its
engagement  hereunder,  except for information  that (i) was in MCM's possession
prior to its disclosure by the Company, (ii) is publicly disclosed other than by
MCM in violation of this Agreement, (iii) is obtained by MCM from a person other
than the Company who, to the  knowledge  of MCM, is not under a  confidentiality
obligation to the Company,  (iv) the Company agrees may be disclosed,  or (v) is
required to be disclosed  under  compulsion  of law  (whether by  interrogatory,
subpoena, civil investigative demand or otherwise), by order or act of any court
or governmental or regulatory authority or body or by MCM's independent auditors
or accountants.  MCM may also disclose such  information to those of its own and
its  affiliates'  respective  officers,   directors,   employees,  auditors  and
professional  advisors  who  need to  know  such  information  for  purposes  of
performing the services described in this Agreement.

If  the  terms  of  MCM's   engagement  as  set  forth  in  this  agreement  are
satisfactory,  please sign the enclosed copy of this letter and return it to the
undersigned,   whereupon  this  letter  agreement  shall  constitute  a  binding
agreement  as of the date first above  written.  We look forward to working with
the Company on this assignment.

                             SIGNATURE PAGE FOLLOWS
<PAGE>
Global Entertainment Corporation
December 14, 2007
Page 8

Very truly yours,

MILLER CAPITAL MARKETS, LLC

By: /s/ J. Andrew Moorer
   -----------------------------------------
         Name:  J. Andrew Moorer
         Title: President

Accepted and Agreed as of the date first written above:

GLOBAL ENTERTAINMENT CORPORATION

By: /s/ Rick Kozuback
   -----------------------------------------
         Name:  Rick Kozuback
         Title: President and Chief Executive Officer
<PAGE>
Global Entertainment Corporation
December 14, 2007
Page 10

                                    EXHIBIT A

     In connection with the engagement, the Company agrees to indemnify and hold
harmless  MCM  and  its  affiliates,   their  respective  directors,   officers,
controlling  persons  (within the meaning of Section 15 of the Securities Act of
1933 or Section 20(a) of the Securities  Exchange Act of 1934),  if any,  agents
and  employees  of MCM or any of MCM's  affiliates  (collectively,  "Indemnified
Persons" and individually, an "Indemnified Person") from and against any and all
actions, claims, suits, proceedings,  liabilities,  losses, damages and expenses
incurred,  joint or several (collectively,  "Claims"), by any Indemnified Person
which are related to or arise from MCM's  engagement  by the Company,  including
Claims  that  relate to or arise from any  actions  taken or omitted to be taken
(including  any  untrue or  alleged  untrue  statements  made or any  statements
omitted or alleged to be  omitted)  by the  Company or which  relate to or arise
from  securities  laws or any other law or legal theory,  and will reimburse MCM
and any  other  Indemnified  Person  for all  costs  and  expenses,  as they are
incurred, in connection with investigating, preparing for, providing depositions
for,  testifying in or defending  any such action or claim,  formal or informal,
investigation,  inquiry or other  proceeding,  whether or not in connection with
pending or threatened  litigation,  whether or not MCM or any Indemnified Person
is named as a party thereto and whether or not any liability  results  therefrom
related to or arising from the foregoing  (collectively,  "Costs").  The Company
will not,  however,  be  responsible  for (a) any amount paid in  settlement  of
Claims  without  the  Company's  consent  unless  such  consent is  unreasonably
withheld,  or (b) any Claims  which are found in a final  judgment by a court of
competent jurisdiction (not subject to further appeal) to have resulted directly
and  primarily  from  an  Indemnified   Person's  gross  negligence  or  willful
misconduct.

     Promptly  after MCM receives  notice of the  commencement  of any action or
other proceeding in respect of which  indemnification  or  reimbursement  may be
sought  hereunder,  MCM will notify the Company thereof;  but the omission so to
notify the Company shall not relieve the Company from any  obligation  hereunder
unless,  and only to the extent that,  such  omission  results in the  Company's
forfeiture  of  substantive  rights  or  defenses.  If any such  action or other
proceeding shall be brought against any Indemnified  Person,  the Company shall,
upon written  notice given  reasonably  promptly  following  MCM's notice to the
Company of such action or proceeding,  be entitled to assume the defense thereof
at the  Company's  expense  with  counsel  chosen by the Company and  reasonably
satisfactory to such Indemnified Person; provided, however, that any Indemnified
Person may at its own expense  retain  separate  counsel to  participate in such
defense.  Notwithstanding the foregoing,  such Indemnified Person shall have the
right to employ separate counsel at the Company's expense and to control its own
defense of such action or proceeding  if, in the  reasonable  opinion of counsel
retained by the  Company,  (i) there are or may be legal  defenses  available to
such Indemnified Person or to other Indemnified  Persons that are different from
or  additional  to those  available  to the  Company,  or (ii) a  difference  of
position or potential difference of position exists between the Company and such
Indemnified Person;  which in either case would make it ethically  impermissible
for such counsel to represent all potential defendants;  provided, however, that
in no event shall the Company be  required to pay fees and  expenses  under this
indemnity for more than one firm of attorneys (in addition to local  counsel) in
any  jurisdiction  in any one legal  action or group of related  legal  actions,
regardless of the number of Indemnified Persons involved or potentially involved
in such action or group of related actions.

     The Company agrees that neither MCM nor any other Indemnified  Person shall
have any  liability  to the Company for or in  connection  with such  engagement
except  liability  for Claims which are found in a final  judgment by a court of
competent jurisdiction (not subject to further appeal) to have resulted directly
and  primarily  from  an  Indemnified   Person's  gross  negligence  or  willful
misconduct. The Company also agrees that the Company will not, without the prior
written  consent  of MCM,  settle or  compromise  or consent to the entry of any
judgment in any pending or threatened Claim in respect of which  indemnification
may be sought  hereunder  (whether  or not MCM or any  Indemnified  Person is an
actual or potential  party to such Claim).  No such  settlement,  compromise  or
consent  shall impose any material  obligation  on MCM or any other  Indemnified
Person  or  contain  any  admission  of  culpability  on the  part of MCM or any
Indemnified  Person.  Such  settlement,  compromise  or consent shall include an
unconditional  release  of MCM  and  each  other  Indemnified  Person  from  all
liability  arising out of such Claim,  and the Company  shall furnish MCM with a
copy of such settlement reasonably in advance of entering into such settlement.

     In order to provide for just and  equitable  contribution,  if a demand for
indemnification  or reimbursement  for Claims or Costs is made pursuant to these
provisions  but is not  available for any reason,  then the Company,  on the one
hand, and MCM, on the other hand,  shall  contribute to such Claims or Costs for
<PAGE>
Global Entertainment Corporation
December 14, 2007
Page 11

which  such  indemnification  or  reimbursement  is  held  unavailable  in  such
proportion as is appropriate to reflect the relative benefits to the Company, on
the one hand, and MCM on the other hand, in connection  with the  transaction or
transactions  from which the Claims or Costs in  question  arose.  The  relative
benefits  received  by the  Company,  on the one hand,  and by MCM, on the other
hand,  shall  be  deemed  to be in the  same  proportion  as the  value  (before
deducting  expenses) of the consideration  paid by or received by the Company or
its stockholders or comparable  equity owners, as the case may be, in connection
with the transaction or transactions  from which the Claims or Costs in question
arose bears to the total fees actually received by MCM in connection  therewith.
If the  allocation  provided  by the  foregoing  sentence  is not  permitted  by
applicable  law, then such  allocation  shall be based not only on such relative
benefits  determined as aforesaid but also on the relative fault of the Company,
on the one hand, and MCM, on the other, as well as any other relevant  equitable
considerations.  The  relative  fault  of the  parties  shall be  determined  by
reference  to, among other things,  the parties'  relative  intents,  knowledge,
access to information  and, if applicable,  whether any untrue or alleged untrue
statement  of a material  fact or the  omission  or alleged  omission to state a
material fact relates to information  supplied by the Company or by MCM, and any
other  equitable  considerations  appropriate  in the  circumstances.  Any  such
contribution  shall  be  subject  to the  limitation  that  in any  event  MCM's
aggregate  contribution  to all  Claims  or  Costs  for  which  contribution  is
available hereunder shall not exceed the amount of fees actually received by MCM
pursuant  to  the  particular   engagement   relating  to  the   transaction  or
transactions from which the Claims or Costs in question arose.

     The foregoing rights to indemnity,  reimbursement and contribution shall be
in addition to any rights that MCM and/or any other Indemnified  Person may have
at  common  law  or  otherwise.   The  Company   hereby   consents  to  personal
jurisdiction, service of process and venue in any court in which any Claim which
is subject hereto is brought against MCM or any other Indemnified Person.

     In connection with MCM's engagement of even date herewith,  MCM may also be
engaged to act for the Company in one or more additional  capacities.  The terms
of  any  such  engagement  may be  embodied  in one  or  more  separate  written
agreements.  These  indemnification  provisions shall apply to the engagement of
even date herewith, all such other engagements (whether written or oral) and any
modification  thereof and shall  remain in full force and effect  following  the
completion or termination of any such engagement

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00147-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00147-of-00352.parquet"}]]