Document:

Exhibit 10.4  -- Consulting Service Agreement

                          CONSULTING SERVICE AGREEMENT
                               WITH T. J. JESKY

This consulting services agreement ("Consulting Agreement") is made as of this
3rd day of May, 2004, by and between T. J. Jesky, 1801 E. Tropicana,
Suite 9, Las Vegas, NV  89119, (referred to herein as the "Consultant") and
Absolute Glass Protection, Inc., 3140 Venture Drive, Las Vegas, NV  89101
(referred to herein as the "Company"), with T. J. Jesky and Company collectively
sometimes herein referred to as the "Parties".  The Parties hereto, for ten (10)
dollars and other good and valuable consideration the receipt and sufficiency
of which is hereby acknowledged, hereby agree as follows:

WHEREAS, the Company (a Nevada corporation) is a fully reporting company
whose securities are traded on the Over-the-Counter Bulletin Board under
the ticker symbol "ASLG"; and

WHEREAS, and the Consultant is a filing agent with the Securities and
Exchange Commission ("SEC") and is in the business of assisting companies
with the preparation of diligence material relating to drafting of SEC
filings; and

WHEREAS, the Company wishes to retain T. J. Jesky as a non-exclusive
corporate consultant; and

      IT IS, THEREFORE agreed that:

1.  Services.  The Company shall retain T. J. Jesky to provide general
corporate consulting services which may include, but not be limited to:
assistance in the drafting, preparation, and assistance with general filings
in accordance with the Rules and Regulations of the Securities and
Exchange Commission.  The filings to be worked on by the Consultant may
include, but not be limited to filings such as Form 10K-SB for the calendar
year ending September 30, 2004 and the Form 10Q-SB, for the periods
ending December 31, 2003, March 31, 2004 and June 30, 2004.  Any required
Form 14a, Form 8-K, Form S-8, and other required filings through September 30,
2004.   The Consultant shall agree to make himself available for the foregoing
purposes and devote such business time and attention thereto as it shall
determine is required.

The Company understands that any and all suggestions, opinions or advice
given to the Company by the Consultant are advisory only and the ultimate
responsibility, liability and decision regarding any action(s) taken or
filings made lies solely with the Company and not with the Consultant.

2.  Term.  The term of this Consulting Agreement shall be from the date
hereof until the Form 10K-SB is completed for the period ended September 30,
2004 (the "Term").  This includes the completion of the annual report for
2004.

                                    1

<PAGE>

3.  Compensation.  As compensation for entering into this Consulting
Agreement and for services rendered over the Term, Mr. T. J. Jesky shall be
granted two hundred twenty-five thousand (225,000) shares of the Company's
common stock, par value $0.001 per share.  The Company hereby agrees to
register the shares of common stock underlying the above referenced common
stock on a Form S-8 registration statement.

4.   Law Governing.  This Agreement shall be governed by and construed in
accordance with the laws of the State of Nevada.  The parties consent to the
jurisdiction of the courts of the State of Nevada and the United States
District Court of Nevada, and their respective appellate Courts and further
waive objection to venue in any such court for all cases in controversy
relating to disagreement or the relationship between the parties.

5. Independent Contractor Relationship.  Consultant and the Company are
independent contractors and nothing contained in this Agreement shall be
construed to place them in the relationship of partners, principal and
agent, employer/employee or joint ventures.  Neither party shall have the
power or right to bind or obligate the other party, nor shall it hold itself
out as having such authority.

6. Indemnification.  Company shall indemnify and hold harmless the Consultant
from and against any and all losses, damages, liabilities, reasonable
attorney's fees, court costs and expenses resulting or arising from any or
omission by Company.  The Consultant shall indemnify and hold harmless the
Company from and against any and all losses, damages, liabilities,
reasonable attorney's fees, court costs and expenses resulting or arising
from any act or omission by the Consultant.

7.  Miscellaneous.

           7.1  Assignment. This Agreement is not transferable or assignable.

           7.2  Execution and Delivery of Agreement. Each of the parties
shall be entitled to rely on delivery by fax transmission of an executed
copy of this agreement by the other party, and acceptance of such fax copies
shall create a valid and binding agreement between the parties.

          7.3  Titles. The titles of the sections and subsections of this
agreement are for the convenience of reference only and are not to be
considered in construing this agreement.

          7.4  Severability. The invalidity or unenforceability of any
particular provision of this agreement shall not affect or limit the validity
or enforceability of the remaining provisions of this agreement.

                                      2
<PAGE>

          7.5  Entire Agreement. This agreement constitutes the entire
agreement and understanding between the parties with respect to the subject
matters herein and supersedes and replaces any prior agreements and
understandings, whether oral or written, between them with respect to such
matters.

         7.6  Counterparts. This Agreement may be executed in any number
of counterparts, each of which shall be an original, but all of which
together shall constitute one and the same instrument.

IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as
of the date first above mentioned.

May 3, 2004

                                            ABSOLUTE GLASS PROTECTION, INC.

                                            By: /s/ John Dean Harper
                                            ------------------------------
                                                    John Dean Harper
                                                    Chairman and President

  AGREED AND ACCEPTED

  By:    /s/ T. J. Jesky
         ---------------------------
         T. J. Jesky
         1801 E. Tropicana, Suite 9
         Las Vegas, NV  89119

225,000 Shares.  Number of Shares to be issued
to T. J. Jesky pursuant to this agreement.

                                      3
<PAGE><PAGE>
                                                                     EXHIBIT 4.1

                                    INDENTURE

                                   dated as of

                                November 7, 2003

                       River Rock Entertainment Authority,
                                    as Issuer

                  The Dry Creek Rancheria Band of Pomo Indians

                                  $200,000,000

                          9 3/4% Senior Notes Due 2011

                         U.S. Bank National Association
                                     Trustee

<PAGE>

                             CROSS-REFERENCE TABLE*

Trust Indenture

<TABLE>
<CAPTION>

   Act Section                                                                            Indenture Section
   -----------                                                                            -----------------
<S>                                                                                       <C>
310(a)(1)........................................................................................7.10
     (a)(2)......................................................................................7.10
     (a)(3)......................................................................................N.A.
     (a)(4)......................................................................................N.A.
     (a)(5)......................................................................................7.10
     (b).........................................................................................7.10
     (c).........................................................................................N.A.
311(a)...........................................................................................7.11
     (b).........................................................................................7.11
     (c).........................................................................................N.A.
312(a)...........................................................................................2.06
     (b).........................................................................................15.03
     (c).........................................................................................15.03
313(a)...........................................................................................7.06
     (b)(1)......................................................................................14.04
     (b)(2)......................................................................................7.06, 7.07
     (c).........................................................................................7.06, 15.02
     (d).........................................................................................7.06
314(a)...........................................................................................15.05
     (b).........................................................................................14.03
     (c)(1)......................................................................................N.A.
     (c)(2)......................................................................................N.A.
     (c)(3)......................................................................................N.A.
     (d).........................................................................................14.04, 14.05,
                                                                                                 14.06
     (e).........................................................................................15.05
     (f).........................................................................................N.A.
315(a)...........................................................................................N.A.
     (b).........................................................................................N.A.
     (c).........................................................................................N.A.
     (d).........................................................................................N.A.
     (e).........................................................................................N.A.
316(a) (last sentence)...........................................................................N.A.
     (a)(1)(A)...................................................................................N.A.
     (a)(1)(B)...................................................................................N.A.
     (a)(2)......................................................................................N.A.
     (b).........................................................................................N.A.
     (c).........................................................................................15.14
317(a)(1)........................................................................................N.A.
     (a)(2)......................................................................................N.A.
     (b).........................................................................................N.A.
318(a)...........................................................................................N.A.
     (b).........................................................................................N.A.
     (c).........................................................................................15.01

</TABLE>

--------
N.A. means not applicable.
*This Cross-Reference Table is not part of the Indenture.

<PAGE>

                                Table of Contents
<TABLE>
<CAPTION>

                                                                                                               Page
                                                                                                               ----
<S>                   <C>                                                                                      <C>
                               ARTICLE ONE DEFINITIONS AND INCORPORATION BY REFERENCE

Section 1.01          Definitions.................................................................................1
Section 1.02          Other Definitions..........................................................................21
Section 1.03          Incorporation by Reference of Trust Indenture Act..........................................21
Section 1.04          Rules of Construction......................................................................22

                                                ARTICLE TWO THE NOTES

Section 2.01          Form and Dating............................................................................22
Section 2.02          Execution and Authentication...............................................................23
Section 2.03          Methods of Receiving Payments on the Notes.................................................23
Section 2.04          Registrar and Paying Agent.................................................................23
Section 2.05          Paying Agent to Hold Money in Trust........................................................24
Section 2.06          Holder Lists...............................................................................24
Section 2.07          Transfer and Exchange......................................................................24
Section 2.08          Replacement Notes..........................................................................36
Section 2.09          Outstanding Notes..........................................................................36
Section 2.10          Treasury Notes.............................................................................36
Section 2.11          Temporary Notes............................................................................37
Section 2.12          Cancellation...............................................................................37
Section 2.13          Reserved...................................................................................37
Section 2.14          CUSIP Numbers..............................................................................37

                         ARTICLE THREE REDEMPTION AND PREPAYMENT; SATISFACTION AND DISCHARGE

Section 3.01          Notices to Trustee.........................................................................37
Section 3.02          Selection of Notes to Be Redeemed..........................................................38
Section 3.03          Notice of Redemption.......................................................................38
Section 3.04          Effect of Notice of Redemption.............................................................39
Section 3.05          Deposit of Redemption Price................................................................39
Section 3.06          Notes Redeemed in Part.....................................................................39
Section 3.07          Optional Redemption........................................................................39
Section 3.08          Redemption Pursuant to Gaming Law..........................................................40
Section 3.09          Repurchase Offers..........................................................................41
Section 3.10          Application of Trust Money.................................................................42

                                               ARTICLE FOUR COVENANTS

Section 4.01          Payment of Notes...........................................................................43
Section 4.02          Maintenance of Office or Agency............................................................43
Section 4.03          Reports....................................................................................43
Section 4.04          Compliance Certificate.....................................................................44

</TABLE>

                                       i

<PAGE>

<TABLE>

<S>                   <C>                                                                                        <C>
Section 4.05          Taxes......................................................................................45
Section 4.06          Stay, Extension and Usury Laws.............................................................45
Section 4.07          Restricted Payments........................................................................45
Section 4.08          Incurrence of Indebtedness and Issuance of Disqualified Stock..............................48
Section 4.09          Asset Sales................................................................................49
Section 4.10          Transactions with Affiliates...............................................................51
Section 4.11          Liens......................................................................................52
Section 4.12          Business Activities........................................................................52
Section 4.13          Existence of the Authority.................................................................52
Section 4.14          Change of Control..........................................................................52
Section 4.15          Payments for Consent.......................................................................53
Section 4.16          Maintenance of Insurance...................................................................54
Section 4.17          Use of Proceeds; Collateral; Completion of Expansion Project...............................54
Section 4.18          Gaming Licenses............................................................................55
Section 4.19          Events of Loss.............................................................................55
Section 4.20          Subsidiaries...............................................................................56

                                       ARTICLE FIVE LIQUIDATION OR DISSOLUTION

Section 5.01          Liquidation or Dissolution.................................................................56

                                          ARTICLE SIX DEFAULTS AND REMEDIES

Section 6.01          Events of Default..........................................................................56
Section 6.02          Acceleration...............................................................................58
Section 6.03          Other Remedies.............................................................................59
Section 6.04          Waiver of Past Defaults....................................................................59
Section 6.05          Control by Majority........................................................................60
Section 6.06          Limitation on Suits........................................................................60
Section 6.07          Rights of Holders of Notes to Receive Payment..............................................60
Section 6.08          Collection Suit by Trustee.................................................................61
Section 6.09          Trustee May File Proofs of Claim...........................................................61
Section 6.10          Priorities.................................................................................61
Section 6.11          Undertaking for Costs......................................................................62
Section 6.12          Restoration of Rights and Remedies.........................................................62

                                                ARTICLE SEVEN TRUSTEE

Section 7.01          Duties of Trustee..........................................................................62
Section 7.02          Certain Rights of Trustee..................................................................63
Section 7.03          Individual Rights of Trustee...............................................................64
Section 7.04          Trustee's Disclaimer.......................................................................64
Section 7.05          Notice of Defaults.........................................................................64
Section 7.06          Reports by Trustee to Holders of the Notes.................................................64
Section 7.07          Compensation and Indemnity.................................................................65
Section 7.08          Replacement of Trustee.....................................................................66
Section 7.09          Successor Trustee by Merger, Etc...........................................................67

</TABLE>

                                       ii

<PAGE>

<TABLE>

<S>                   <C>                                                                                        <C>
Section 7.10          Eligibility; Disqualification..............................................................67
Section 7.11          Preferential Collection of Claims Against Authority........................................67
Section 7.12          Authorization of Trustee to Take Other Actions.............................................68

                                  ARTICLE EIGHT DEFEASANCE AND COVENANT DEFEASANCE

Section 8.01          Option to Effect Legal Defeasance or Covenant Defeasance...................................68
Section 8.02          Legal Defeasance and Discharge.............................................................68
Section 8.03          Covenant Defeasance........................................................................69
Section 8.04          Conditions to Legal or Covenant Defeasance.................................................69
Section 8.05          Deposited Money and Government Securities to Be Held in Trust; Other Miscellaneous
                      Provisions.................................................................................70
Section 8.06          Repayment to the Authority.................................................................70
Section 8.07          Reinstatement..............................................................................71

                                    ARTICLE NINE AMENDMENT, SUPPLEMENT AND WAIVER

Section 9.01          Without Consent of Holders of Notes........................................................71
Section 9.02          With Consent of Holders of Notes...........................................................72
Section 9.03          Compliance with Trust Indenture Act........................................................73
Section 9.04          Revocation and Effect of Consents..........................................................73
Section 9.05          Notation on or Exchange of Notes...........................................................73
Section 9.06          Trustee to Sign Amendments, Etc............................................................73

                                         ARTICLE TEN COVENANTS OF THE TRIBE

Section 10.01         Covenants of the Tribe.....................................................................74

                               ARTICLE ELEVEN IRREVOCABLE WAIVER OF SOVEREIGN IMMUNITY

Section 11.01         Irrevocable Waiver of Sovereign Immunity...................................................76

                                      ARTICLE TWELVE SATISFACTION AND DISCHARGE

Section 12.01         Satisfaction and Discharge.................................................................77
Section 12.02         Deposited Money and Government Securities to Be Held in Trust; Other Miscellaneous
                      Provisions.................................................................................78
Section 12.03         Repayment to the Authority.................................................................78

                   ARTICLE THIRTEEN SPECIAL PROVISIONS REGARDING UNLICENSED AND NON-EXEMPT HOLDERS

Section 13.01         Special Provisions Regarding Unlicensed and Non-Exempt Holders.............................79

                                      ARTICLE FOURTEEN COLLATERAL AND SECURITY

Section 14.01         Collateral Documents.......................................................................79
Section 14.02         Security Interest During an Event of Default...............................................80

</TABLE>

                                      iii

<PAGE>

<TABLE>

<S>                   <C>                                                                                        <C>
Section 14.03         Recording and Opinions.....................................................................80
Section 14.04         Release of Collateral......................................................................81
Section 14.05         Certificates of the Authority..............................................................82
Section 14.06         Certificates of the Trustee................................................................82
Section 14.07         Authorization of Actions to Be Taken by the Trustee Under the Collateral Documents.........82
Section 14.08         Authorization of Receipt of Funds by the Trustee Under the Collateral Documents............83
Section 14.09         Termination of Security Interest...........................................................83

                                            ARTICLE FIFTEEN MISCELLANEOUS

Section 15.01         Trust Indenture Act Controls...............................................................83
Section 15.02         Notices....................................................................................83
Section 15.03         Communication by Holders of Notes with Other Holders of Notes..............................84
Section 15.04         Certificate and Opinion as to Conditions Precedent.........................................85
Section 15.05         Statements Required in Certificate or Opinion..............................................85
Section 15.06         Rules by Trustee and Agents................................................................85
Section 15.07         No Personal Liability of Tribe or Certain Individuals......................................85
Section 15.08         Governing Law..............................................................................86
Section 15.09         Consent to Jurisdiction....................................................................86
Section 15.10         No Adverse Interpretation of Other Agreements..............................................86
Section 15.11         Successors.................................................................................86
Section 15.12         Severability...............................................................................86
Section 15.13         Counterpart Originals......................................................................86
Section 15.14         Acts of Holders............................................................................87
Section 15.15         Benefit of Indenture.......................................................................88
Section 15.16         Table of Contents, Headings, Etc...........................................................88
Section 15.17         IGRA Savings Provisions....................................................................88

</TABLE>

                         Part I - Applicant Information

                                    Exhibits

Exhibit A    FORM OF NOTE

Exhibit B    FORM OF CERTIFICATE OF TRANSFER

Exhibit C    FORM OF CERTIFICATE OF EXCHANGE

Exhibit D    FORM OF CERTIFICATE OF ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR

<PAGE>

                  INDENTURE dated as of November 7, 2003 among the River Rock
Entertainment Authority, an unincorporated instrumentality wholly owned by the
Dry Creek Rancheria Band of Pomo Indians, a federally recognized Indian Tribe
and sovereign nation, the Tribe (as defined below) and U.S. Bank National
Association, a national banking association, as Trustee.

                  The Authority (as defined below), the Tribe and the Trustee
(as defined below) agree as follows for the benefit of each other and for the
equal and ratable benefit of the Holders (as defined below) of the 9 3/4% Senior
Notes due 2011:

                                  ARTICLE ONE
                          DEFINITIONS AND INCORPORATION
                                  BY REFERENCE

Section 1.01      Definitions.

                  "Acquired Debt" means, with respect to any specified Person:

                  (1) Indebtedness of any other Person existing at the time such
         other Person is merged with or into, became a Subsidiary of, or
         substantially all of its business and assets were acquired by, such
         specified Person, whether or not such Indebtedness is incurred in
         connection with, or in contemplation of, such other Person merging with
         or into, or becoming a Subsidiary of, or substantially all of its
         business and assets being acquired by, such specified Person; and

                  (3) Indebtedness secured by a Lien encumbering any asset
         acquired by such specified Person.

                  "Additional Notes" means Notes (other than the Notes issued on
the date hereof) issued under this Indenture in accordance with Sections 2.02
and 4.08 hereof as part of the same series as the Initial Notes and will be
treated as a single class for all purposes under the Indenture, including,
without limitation, waivers, amendments, redemptions and offers to purchase.

                  "Affiliate" means, with respect to any specified Person, any
other Person directly or indirectly controlling or controlled by or under direct
or indirect common control with the specified Person or any Person who is a
council member, director or officer of such Person, or any Person described
above; provided that every member of the Tribe shall be deemed an Affiliate of
the Authority solely by virtue of such Person's membership in the Tribe. For
purposes of this definition, "control," as used with respect to any Person,
means the possession, directly or indirectly, of the power to direct or cause
the direction of the management or policies of that Person, whether through the
ownership of voting securities, by agreement or otherwise; provided that
beneficial ownership of 10% or more of the voting securities of a Person shall
be deemed to be control. For purposes of this definition, the terms
"controlling," "controlled by" and "under common control with" have correlative
meanings.

                  "Agent" means any Registrar, Paying Agent or co-registrar.

                  "Applicable Procedures" means, with respect to any transfer or
exchange of or for beneficial interests in any Global Note, the rules and
procedures of the Depositary or other intermediary that apply to such transfer
or exchange.

                  "Arbitration Provisions" means Ordinance 03-10-25-005 of the
Tribe, entitled Dry Creek Arbitration Ordinance of 2003.

<PAGE>

                  "Asset Sale" means the sale, lease, conveyance or other
disposition of any assets or rights; provided, however, that the sale, lease,
conveyance or other disposition of all or substantially all of the Gaming Assets
of the Authority shall be governed by the provisions of Section 4.14 and not by
the provisions of Section 4.09 hereof.

                  Notwithstanding the foregoing, the following items shall not
be deemed to be Asset Sales:

                  (1) any single transaction or series of related transactions
         that: (a) involves assets having a fair market value of less than $1.0
         million; or (b) results in net proceeds to the Authority of less than
         $1.0 million;

                  (2) the sale or lease of inventory, receivables or other
         assets in the ordinary course of business;

                  (3) dispositions of Gaming Equipment in the ordinary course of
         business pursuant to an established program for the maintenance and
         upgrading of this equipment;

                  (4) a Restricted Payment or Permitted Investment that is
         permitted by Section 4.07 hereof;

                  (5) sales, transfers or other dispositions of property or
         equipment that has become worn out, obsolete or damaged or otherwise
         unsuitable for use in connection with the business of the Authority;

                  (6) any exchange of assets by the Authority in exchange for
         assets with a fair market value at least equal to the fair market value
         of the assets disposed of and which are to be used or are useful in any
         Gaming Business;

                  (7) any operating lease or sublease;

                  (8) the sale or other disposition of cash or Cash Equivalents;

                  (9) any Event of Loss;

                  (10) the creation of a Permitted Lien; and

                  (11) the conveyance of real property to the United States to
         be held in trust for the Tribe.

                  "Authority" means the River Rock Entertainment Authority, an
unincorporated instrumentality wholly owned by the Tribe, created by Authority
Ordinance.

                  "Authority Ordinance" means the Ordinance adopted by the Board
of Directors of the Tribe creating the Authority.

                  "Bankruptcy Law" means Title 11, U.S. Code or any similar
federal or state law for the relief of debtors.

                                       2
<PAGE>

                  "Beneficial Owner" has the meaning assigned to such term in
Rule 13d-3 and Rule 13d-5 under the Exchange Act, except that in calculating the
beneficial ownership of any particular "person" (as that term is used in Section
13(d)(3) of the Exchange Act), such "person" shall be deemed to have beneficial
ownership of all securities that such "person" has the right to acquire by
conversion or exercise of other securities, whether such right is currently
exercisable or is exercisable only upon the occurrence of a subsequent
condition. The terms "Beneficially Owns" and "Beneficially Owned" shall have a
corresponding meaning.

                  "BIA" means the Bureau of Indian Affairs.

                  "Board of Directors" means:

                  (1) with respect to a corporation, the board of directors of
         the corporation;

                  (2) with respect to a partnership, the managing partner or
         partners of the partnership and, if a managing partner is a
         corporation, the board of directors of such corporation;

                  (3) with respect to the Authority, its board of directors;

                  (4) with respect to the Tribe, its board of directors; and

                  (5) with respect to any other Person, the board or committee
         of such Person serving a similar function.

                  "Broker-Dealer" has the meaning set forth in the Registration
Rights Agreement.

                  "Business Day" means any day other than a Legal Holiday.

                  "Capital Lease Obligation" means, at the time any
determination thereof is to be made, the amount of the liability in respect of a
capital lease that would at that time be required to be capitalized on a balance
sheet in accordance with GAAP.

                  "Capital Stock" means:

                  (1) in the case of a corporation, corporate stock;

                  (2) in the case of an association or business entity
         (including an unincorporated organization), any and all shares,
         interests, participations, rights or other equivalents (however
         designated) of corporate stock or equity;

                  (3) in the case of a partnership or limited liability company,
         partnership or membership interests (whether general or limited); and

                  (4) any other interest or participation that confers on a
         Person the right to receive a share of the profits and losses of, or
         distributions of assets of, the issuing Person.

                  "Cash and Collateral Disbursement Agreement" means the Cash
Collateral and Disbursement Agreement, dated as of the date of the Indenture, by
and among U.S. Bank, National Association, as Disbursement Agent, Wells Fargo
Bank, N.A., as Disbursement Agent, the Trustee, the Independent Construction
Consultant, the Authority and the Tribe.

                                       3
<PAGE>

                  "Cash Equivalents" means, in each case including, without
limitation, all amount held in the Collateral Accounts:

                  (1) United States dollars;

                  (2) securities issued or directly and fully guaranteed or
         insured by the United States government or any agency or
         instrumentality thereof (provided that the full faith and credit of the
         United States is pledged in support thereof) having maturities of not
         more than one year from the date of acquisition;

                  (3) certificates of deposit and eurodollar time deposits with
         maturities of one year or less from the date of acquisition, bankers'
         acceptances with maturities not exceeding one year and overnight bank
         deposits, in each case, with any commercial bank chartered or organized
         in the United States and having capital and surplus in excess of $500.0
         million and a Thompson Bank Watch Rating of "B" or better;

                  (4) repurchase obligations with a term of not more than seven
         days for underlying securities of the types described in clauses (2)
         and (3) above entered into with any financial institution meeting the
         qualifications specified in clause (3) above;

                  (5) commercial paper having the highest rating obtainable from
         Moody's or S&P and in each case maturing within six months after the
         date of acquisition; and

                  (6) a money market fund at least 95% of the assets of which
         constitute Cash Equivalents of the kinds described in clauses (1)
         through (5) of this definition, if such fund has assets of not less
         than $500.0 million.

                  "Cash Flow" means, with respect to any specified Person for
any period, the Net Income of that Person for that period; plus:

                  (1) an amount equal to any extraordinary loss plus the amount
         of any net loss realized by that Person in connection with an Asset
         Sale, to the extent those losses were deducted in computing Net Income;
         plus

                  (2) Interest Expense of that Person for the relevant period,
         whether paid or accrued to the extent that this expense was deducted in
         computing Net Income; plus

                  (3) depreciation, amortization (including amortization of
         goodwill and other intangibles but excluding amortization of prepaid
         cash expenses that were paid in a prior period) and, without
         duplication, other non-cash expenses (excluding any such non-cash
         expense to the extent that it represents an accrual of or reserve for
         cash expenses in any future period or amortization of a prepaid cash
         expense that was paid in a prior period) of that Person for the
         relevant period to the extent that depreciation, amortization and other
         non-cash expenses were deducted in computing Net Income; plus

                  (4) any pre-opening expenses incurred in connection with the
         Project to the extent that such Service Payment was deducted in
         computing Net Income; plus

                  (5) without duplication, non-cash items increasing Net Income
         for the relevant period, other than the accrual of revenue in the
         ordinary course of business; plus

                                       4
<PAGE>

                  to the extent not included in computing such Net Income, any
revenues received or accrued by the Authority from any Person (other than the
Authority) in respect of any Investment for such period.

                  "CGCC" means the California Gambling Control Commission.

                  "Change of Control" means the occurrence of any of the
following:

                  (1) the Authority ceases to be a wholly-controlled unit,
         instrumentality, enterprise or subdivision of the government of the
         Tribe;

                  (2) the Authority cease to have the exclusive legal right to
         operate the Project in accordance with the Authority Ordinance;

                  (3) the Authority sells, assigns, transfers, leases, conveys
         or otherwise disposes of all or substantially all of the Gaming Assets
         to, or consolidates or merges with or into, any other Person; or

                  (4) the adoption of a plan relating to the liquidation or
         dissolution of the Authority.

                  "Closing Date" means November 7, 2003.

                  "Collateral" means all "collateral" referred to in the
Collateral Documents.

                  "Collateral Accounts" has the meaning set forth in the Cash
Collateral and Disbursement Agreement.

                  "Collateral Documents" means, collectively, the Pledge and
Security Agreement, the Intercreditor Agreement, the Cash Collateral and
Disbursement Agreement, the Control Agreement, all UCC filings related to the
security interests granted by any of the foregoing documents and any other
document or instrument providing for a lien on or security interest in any real
or personal tangible or intangible property as security for any or all of the
obligations of the Authority and the Tribe under the Indenture and the Notes or
any of the foregoing documents.

                  "Compact" means the Tribal-State Compact between the Tribe and
the State of California pursuant to IGRA, concerning which approval by the
Secretary of Interior was published in the Federal Register on May 16, 2000, as
the same may from time to time be amended, or such other compact between such
parties as may be substituted therefore.

                  "Construction Escrow Account" has the meaning set forth in the
Cash Collateral and Disbursement Agreement.

                  "Control Agreement" means any Control Agreement, dated as of
the date of the Indenture, by and among the Tribe, the Authority, the Trustee
and the respective clearing bank.

                  "Corporate Trust Office of the Trustee" shall be at the
address of the Trustee specified in Section 15.02 hereof or such other address
as to which the Trustee may give notice to the Authority.

                  "Custodian" means the Trustee, as custodian with respect to
the Notes in global form, or any successor entity thereto.

                                       5
<PAGE>

                  "Default" means any event that is, or with the passage of time
or the giving of notice or both would be, an Event of Default.

                  "Definitive Note" means a certificated Note, bearing the
Financial Source Legend, registered in the name of the Holder thereof and issued
in accordance with Section 2.07 hereof, substantially in the form of Exhibit A
hereto except that such Note shall not bear the Global Note Legend and shall not
have the "Schedule of Exchanges of Interests in the Global Note" attached
thereto.

                  "Depositary" means, with respect to the Notes issuable or
issued in whole or in part in global form, the Person specified in Section 2.04
hereof as the Depositary with respect to the Notes, and any and all successors
thereto appointed as depositary hereunder and having become such pursuant to the
applicable provision of this Indenture.

                  "Disqualified Stock" means any Capital Stock that, by its
terms (or by the terms of any security into which it is convertible, or for
which it is exchangeable, in each case at the option of the holder thereof), or
upon the happening of any event, matures or is mandatorily redeemable, pursuant
to a sinking fund obligation or otherwise, or redeemable at the option of the
holder thereof, in whole or in part, on or prior to the date that is 91 days
after the date on which the Notes mature. Notwithstanding the preceding
sentence, any Capital Stock that would constitute Disqualified Stock solely
because the holders thereof have the right to require the Authority to
repurchase such Capital Stock upon the occurrence of a change of control or an
asset sale shall not constitute Disqualified Stock if the terms of such Capital
Stock provide that the Authority may not repurchase or redeem any such Capital
Stock unless such repurchase or redemption complies with Section 4.07 hereof.

                  "Equity Interests" means Capital Stock and all warrants,
options or other rights to acquire Capital Stock (but excluding any debt
security that is convertible into, or exchangeable for, Capital Stock).

                  "Event of Loss" means, with respect to any asset, any (1)
loss, destruction or damage of such asset, (2) condemnation, seizure or taking
by exercise of the power of eminent domain or otherwise of such property or
asset, or confiscation of such asset or the requisition of the use of such asset
or (3) settlement in lieu of clause (2) above.

                  "Exchange Act" means the Securities Exchange Act of 1934, as
amended.

                  "Exchange Notes" means the Notes issued in the Exchange Offer
pursuant to Section 2.07(f) hereof.

                  "Exchange Offer" has the meaning set forth in the Registration
Rights Agreement.

                  "Exchange Offer Registration Statement" has the meaning set
forth in the Registration Rights Agreement.

                  "Expansion Project" means the three parking structures, and
related infrastructure improvements, in substantially the form more fully
described in the Offering Memorandum.

                  "FF&E" means furniture, fixture and equipment, including
Gaming Equipment, used in connection with any Gaming Business.

                  "FF&E Financing" means the incurrence of Indebtedness, the
proceeds of which shall be used to finance the acquisition by the Authority of
FF&E used in connection with the Project whether or not secured by a Lien on
such FF&E provided that such Indebtedness does not exceed the fair market value
of such FF&E at the time of its acquisition.

                                       6
<PAGE>

                  "Financial Source" means, within the meaning of Section 6.4.6
of the Compact, any person extending financing, directly or indirectly, to the
Tribe's gaming facility or gaming operation.

                  "Financial Source Legend" means the legend set forth in
Section 2.07(g)(iii) to be placed on all Notes issued under this Indenture.

                  "Fixed Charge Coverage Ratio" means with respect to any
specified Person for any period, the ratio of the Cash Flow of that Person for
that period to the Fixed Charges of that Person for that period. In the event
that the specified Person incurs, assumes, guarantees, repays, repurchases or
redeems any Indebtedness (other than ordinary working capital borrowings)
subsequent to the commencement of the period for which the Fixed Charge Coverage
Ratio is being calculated and on or prior to the date on which the event for
which the calculation of the Fixed Charge Coverage Ratio is made (the
"Calculation Date"), then the Fixed Charge Coverage Ratio shall be calculated
giving pro forma effect to that incurrence, assumption, Guarantee, repayment,
repurchase or redemption of Indebtedness, and the use of the proceeds therefrom
as if the same had occurred at the beginning of the applicable four-quarter
reference period.

                  In addition, for purposes of calculating the Fixed Charge
Coverage Ratio:

                  (1) acquisitions that have been made by the specified Person
         or any of its Subsidiaries, including through mergers or consolidations
         and including any related financing transactions, during the
         four-quarter reference period or subsequent to that reference period
         and on or prior to the Calculation Date shall be given pro forma effect
         as if they had occurred on the first day of the four-quarter reference
         period and Cash Flow for that reference period shall be calculated on a
         pro forma basis in accordance with Regulation S-X under the Securities
         Act;

                  (2) the Cash Flow attributable to discontinued operations, as
         determined in accordance with GAAP, and operations or businesses
         disposed of prior to the Calculation Date, shall be excluded; and

                  (3) the Fixed Charges attributable to discontinued operations,
         as determined in accordance with GAAP, and operations or businesses
         disposed of prior to the Calculation Date, shall be excluded, but only
         to the extent that the obligations giving rise to those Fixed Charges
         shall not be obligations of the specified Person following the
         Calculation Date.

                  "Fixed Charges" means, with respect to any specified Person
for any period, the Interest Expense of that Person for that period, whether
paid or accrued.

                  "GAAP" means generally accepted accounting principles set
forth in the opinions and pronouncements of the Accounting Principles Board of
the American Institute of Certified Public Accountants and statements and
pronouncements of the Financial Accounting Standards Board or Governmental
Accounting Standards Board, as applicable, or in other statements by other
entities that have been approved by a significant segment of the accounting
profession, which are in effect from time to time.

                                       7
<PAGE>

                  "Gaming Assets" means any and all real, mixed and personal
property of the Authority, and all real, mixed and personal property of the
Tribe and all Affiliates of the Tribe that is (a) associated with, or reasonably
related and beneficial to, the Gaming Business of the Authority or (b) reflected
on the balance sheet of the Gaming Business of the Authority as an
instrumentality of the Tribe as of December 31, 2002 or any subsequent balance
sheet of the Gaming Business or the Authority. "Gaming Assets" in any event
includes without limitation (i) the Project, (ii) all tangible and intangible
property of the Authority associated with, or reasonably related and beneficial
to, the Gaming Business of the Authority, including without limitation all
gaming, hotel, entertainment, transportation, restaurant and related equipment,
all intellectual property associated with the Gaming Business of the Authority,
the books and records thereof and all office equipment and receptacles
associated therewith, and (iii) all revenues of the Authority derived from the
Gaming Business of the Authority, exclusive of revenues of the Authority
distributed to the Tribe or its members as permitted by this Indenture, provided
that Gaming Assets shall not include property that is not used in a trade,
business, or other commercial undertaking so long as such property was not
financed in whole or in part by proceeds of the Notes or proceeds of property so
financed, and the use of such property is not material to the operations or
financial condition of the Gaming Business of the Authority.

                  "Gaming Authority" means any agency, authority, board, bureau,
commission, department, office or instrumentality of any nature whatsoever of
the United States federal or foreign government, the Tribe, any state, province
or any city or other political subdivision whether now or hereafter in
existence, or any officer or official thereof, with authority to regulate any
gaming operation (or proposed gaming operation) owned, managed or operated by
the Tribe or the Authority, including the Tribal Gaming Commission and any
division of the Tribe having such authority.

                  "Gaming Business" means the Class II and Class III Gaming (as
such terms are defined in IGRA) business and any activity or business
incidental, related, complementary or similar thereto, or any business or
activity that is a reasonable extension, development or expansion thereof or
ancillary thereto, including without limitation any hotel, entertainment,
transportation, recreation or other activity or business designed to promote,
market, support, develop, construct or enhance a casino gaming business.

                  "Gaming Equipment" means a "gaming device" as defined in the
Compact.

                  "Gaming License" means every license, permit, franchise or
other authorization from any Gaming Authority required on the date hereof or at
any time thereafter to own, lease, operate or otherwise conduct the Gaming
Business of the Tribe or the Authority, including all licenses granted under the
Tribal Gaming Ordinance, and the regulation promulgated pursuant thereto, and
other applicable federal, state, foreign or local laws.

                  "Global Note Legend" means the legend set forth in Section
2.07(g)(ii), which is required to be placed on all Global Notes issued under
this Indenture.

                  "Global Notes" means, individually and collectively, the
Restricted Global Note and the Unrestricted Global Note, substantially in the
form of Exhibit A hereto, bearing the Financial Source Legend and the Global
Note Legend and issued in accordance with Section 2.01, 2.07(b)(iii),
2.07(d)(ii) or 2.07(f) of this Indenture.

                  "Government Securities" means securities that are (a) direct
obligations of the United States of America for the payment of which its full
faith and credit is pledged or (b) obligations of a person controlled or
supervised by and acting as an agency or instrumentality of the United States of
America, the payment of which is unconditionally guaranteed as a full faith and
credit obligation by the United States of America, which, in either case, are
not callable or redeemable at the option of the Authority, and shall also
include a depository receipt issued by a bank (as defined in Section 3(a)(2) of
the Securities Act) as a custodian with respect to any such U.S. Government
obligation or a specific payment of principal of or interest on any such U.S.
Government obligation held by such custodian for the account of the holder of
such depository receipt. However, except as required by law, such custodian is
not authorized to make any deduction from the amount payable to the holder of
such depository receipt from any amount received by the custodian in respect of
the U.S. Government obligation or the specific payment of principal of or
interest on the U.S. Government obligation evidenced by such depository receipt.

                                       8
<PAGE>

                  "Guarantee" means a guarantee other than by endorsement of
negotiable instruments for collection in the ordinary course of business, direct
or indirect, in any manner, including, without limitation, by way of a pledge of
assets or through letters of credit or reimbursement agreements in respect
thereof, of all or any part of any Indebtedness.

                  "Hedging Obligations" means, with respect to any specified
Person, the obligations of such Person under:

                  (1) interest rate swap agreements, interest rate cap
         agreements and interest rate collar agreements; and

                  (2) other agreements or arrangements designed to protect such
         Person against fluctuations in interest rates.

                  "Holder" means a Person in whose name a Note is registered.

                  "IGRA" means the Indian Gaming Regulatory Act of 1988, PL
100-497, 25 U.S.C. ss. 2701 et seq., as the same may from time to time be
amended.

                  "Indebtedness" means, with respect to any specified Person and
without duplication, any liability of such Person, whether or not contingent,

                  (1) for borrowed money;

                  (2) evidenced by bonds, notes, debentures or similar
         instruments or letters of credit (or reimbursement agreements in
         respect thereof);

                  (3) in respect of banker's acceptances;

                  (4) representing Capital Lease Obligations;

                  (5) representing the balance deferred and unpaid of the
         purchase price of any property, except any such balance that
         constitutes an accrued expense or trade payable;

                  (6) representing any Hedging Obligations; and

                  (7) to the extent not otherwise included, the Guarantee by the
         specified Person of any Indebtedness of any other Person,

if and to the extent any of the preceding items (other than letters of credit,
Hedging Obligations and the amount of that Person's obligation for the
redemption, repayment or other repurchase of Disqualified Stock) would appear as
a liability upon a balance sheet of the specified Person prepared in accordance
with GAAP. In addition, the term "Indebtedness" includes all Indebtedness of
others secured by a Lien on any asset of the specified Person (whether or not
such Indebtedness is assumed by the specified Person) and, to the extent not
otherwise included, the Guarantee by the specified Person of any indebtedness of
any other Person.

                                       9
<PAGE>

                  The amount of any Indebtedness outstanding as of any date
shall be:

                     (a) the accreted value thereof, in the case of any
         Indebtedness issued with original issue discount; and

                     (b) the principal amount thereof, together with any
         interest thereon that is more than 30 days past due, in the case of any
         other Indebtedness.

                  "Indenture" means this Indenture, as amended or supplemented
from time to time.

                  "Independent Construction Consultant" means Merritt & Harris,
Inc., or any permitted replacement independent construction consultant.

                  "Indirect Participant" means a Person who holds a beneficial
interest in a Global Note through a Participant.

                  "Initial Notes" means the $200,000,000 of aggregate principle
amount of Notes issued under this Indenture on the date hereof.

                  "Institutional Accredited Investor" means an institution that
is an "accredited investor" as defined in Rule 501(a)(1), (2), (3) or (7) under
the Securities Act, who are not also QIBs.

                  "Intercreditor Agreement" means that certain Intercreditor
Agreement, dated as of the date of this Indenture, by and among the Tribe, the
Authority, Dry Creek Casino, LLC and the Trustee.

                  "Interest Expense" means, with respect to any Person for any
period:

                  (1) the aggregate amount of interest that, in conformity with
         GAAP, would be set forth opposite the caption "interest expense" or any
         like caption on an income statement for such Person, including, but not
         limited to:

                     (a) imputed interest included in Capital Lease Obligations,

                     (b) all net commissions, discounts and other fees and
         charges owed with respect to letters of credit and bankers' acceptance
         financing,

                     (c) the net effect of all payments made or received
         pursuant to Hedging Obligations,

                     (d) amortization of other financing fees and expenses,

                     (e) the interest portion of any deferred payment
         obligation,

                     (f) amortization of discount or premium, if any, and

                     (g) all other non-cash interest expense (other than
         one-time write-offs of debt issuance costs),

                  plus, without duplication;

                                       10
<PAGE>

                  (2) all net capitalized interest for such period and all
         interest incurred or paid under any guarantee of Indebtedness
         (including a guarantee of principal, interest or any combination
         thereof) of any Person, plus the amount of all dividends or
         distributions paid on Disqualified Stock (other than dividends paid or
         payable in shares of Capital Stock of the Authority), les the
         amortization of deferred financing costs associated therewith.

                  "Investments" means, with respect to any Person, all direct or
indirect investments by that Person in other Persons (including Affiliates) in
the forms of loans (including Guarantees or other obligations), advances or
capital contributions (excluding commission, travel and similar advances to
officers and employees made in the ordinary course of business), purchases or
other acquisitions for consideration of Indebtedness, Equity Interests or other
securities, together with all items that are or would be classified as
investments on a balance sheet prepared in accordance with GAAP.

                  The acquisition by the Authority of a Person that holds an
Investment in any third Person shall be deemed to be an Investment by the
Authority in that third Person in an amount equal to the fair market value of
the Investment held by the acquired Person in that third Person in an amount
determined as provided in the final paragraph of Section 4.07 hereof.

                  "Issue Date" means the date on which the initial $200.0
million in aggregate principal amount of the Notes were originally issued under
this Indenture.

                  "Key Project Assets" means:

                  (1) any real property or interest in real property comprising
         the Project held in trust for the Tribe by the United States,

                  (2) any improvement to the real property comprising the
         Project (but excluding any real property improvements determined by the
         Authority to be no longer useful to the operation of the Project), and

                  (3) any business records of the Authority or the Tribe
         relating to the operation of the Project.

                  "Legal Holiday" means a Saturday, a Sunday or a day on which
banking institutions in The City of New York or at a place of payment are
authorized by law, regulation or executive order to remain closed. If a payment
date is a Legal Holiday at a place of payment, payment may be made at that place
on the next succeeding day that is not a Legal Holiday, and no interest shall
accrue on such payment for the intervening period.

                  "Letter of Transmittal" means the letter of transmittal to be
prepared by the Authority and sent to all Holders of the Notes for use by such
Holders in connection with the Exchange Offer.

                  "Lien" means, with respect to any asset, any mortgage, lien,
pledge, charge, security interest or encumbrance of any kind in respect of such
asset, whether or not filed, recorded or otherwise perfected under applicable
law, including any conditional sale or other title retention agreement, any
lease in the nature thereof, any option or other agreement to sell or give a
security interest in and any filing of or agreement to give any financing
statement under the Uniform Commercial Code (or equivalent statutes) of any
jurisdiction.

                                       11
<PAGE>

                  "Make Whole Premium" means with respect to a Note at any
redemption date, the greater of (i) 1% of the principal amount of such Note or
(ii) the excess of (A) the present value of (1) the redemption price of such
Note at November 1, 2007 (as set forth in the table included in Section 3.07)
plus (2) all required interest payments due on such Note through and including
November 1, 2007, computed using a discount rate equal to the Treasury Rate plus
50 basis points, over (B) the then-outstanding principal amount of such Note.

                  "Minimum Facilities" means a casino which has in operation at
least 1,500 slot machines, 13 table games, restaurants with seating for at least
225 people and parking for at least 1,400 vehicles when operated by valet.

                  "Moody's" means Moody's Investors Service and any successor
thereof.

                  "Net Income" means, with respect to any specified Person for
any period:

                  (1) the net income (loss) of that Person before distributions
         to Tribe for that period, determined in accordance with GAAP,
         excluding, however,

                     (a) any gain (but not loss), together with any related
         provision for taxes on that gain (but not loss), realized in connection
         with: (i) any Asset Sale or (ii) the disposition of any securities by
         that Person or the extinguishment of any Indebtedness of that Person;
         and

                     (b) any extraordinary gain (but not loss), together with
         any related provision for taxes on that extraordinary gain (but not
         loss); and

                     (c) the non-cash effect on net income for that period of
         any change in the fair value of a Hedging Obligation of the Authority;
         and

                     (d) the cumulative effect of a change in accounting
         principles; less

                  (2) to the extent included in determining the net income
         (loss) of that Person for that period, in the case of any Person that
         is a partnership or a limited liability company, the amount of
         withholding for tax purposes of such Person for such period.

                  "Net Loss Proceeds" means the aggregate cash proceeds received
by the Authority in respect of any Event of Loss, including, without limitation,
insurance proceeds from condemnation award or damages awarded by any judgment,
net of the direct costs in recovery of such proceeds (including, without
limitation, legal, accounting, appraisal and insurance adjuster fees and any
relocation expenses incurred as a result thereof), taxes paid or payable as a
result thereof (after taking into account any available tax credits or
deductions and any tax sharing arrangements), and amounts required to be applied
to the repayment of Indebtedness secured by a Lien on the asset or assets that
were the subject of such Event of Loss.

                  "Net Proceeds" means the aggregate cash proceeds received by
the Authority or any of its Subsidiaries in respect of any Asset Sale
(including, without limitation, any cash received upon the sale or other
disposition of any non-cash consideration received in any Asset Sale), net of
the direct costs relating to the Asset Sale, including, without limitation,
legal, accounting and investment banking fees, brokerage and sales commissions,
any relocation expenses incurred as a result of the Asset Sale and any taxes
paid or payable by the Authority as a result of the Asset Sale, in each case,
after taking into account any available tax credits or deductions and any tax
sharing arrangements, and amounts required to be applied to the repayment of
Indebtedness secured by a Lien on the asset or assets that were the subject of
the Asset Sale and any reserve for adjustment in respect of the sale price of
the asset or assets established in accordance with GAAP.

                                       12
<PAGE>

                  "NIGC" means the National Indian Gaming Commission.

                  "Non-Recourse Debt" means Indebtedness (i) as to which the
Authority (a) provides credit support of any kind (including any undertaking,
agreement or instrument that would constitute Indebtedness) or (b) is directly
or indirectly liable (as a guarantor or otherwise); (ii) no default with respect
to which would permit (upon notice, lapse of time or both) any holder of any
other Indebtedness of the Authority to declare a default on such other
Indebtedness or cause the payment thereof to be accelerated or payable prior to
its Stated Maturity; and (iii) as to which such Indebtedness specifies that the
lenders thereunder shall not have any recourse to the equity or assets of the
Authority.

                  "Non-U.S. Person" means a Person who is not a U.S. Person.

                  "Notes" means the 9 3/4% Senior Notes due 2011 of the
Authority issued on the date hereof and the Exchange Notes. The Notes and the
Additional Notes, if any, shall be treated as a single class for all purposes
under this Indenture.

                  "Obligations" means any principal, interest, penalties, fees,
indemnifications, reimbursements, damages and other liabilities payable under
the documentation governing any Indebtedness.

                  "Offering" means the offering of the Notes by the Authority.

                  "Offering Memorandum" means the offering memorandum of the
Authority for the offering of the Notes, dated November 4, 2003.

                  "Officer" means, with respect to any Person, the Chairman, the
Chief Executive Officer, the President, the Chief Operating Officer, the Chief
Financial Officer, the Treasurer, any Assistant Treasurer, the Controller, the
Secretary or any Vice-President of such Person.

                  "Officers' Certificate" means a certificate signed on behalf
of the Authority by at least two Officers of the Authority, one of whom must be
the chairman, the principal executive officer, the principal financial officer,
the treasurer or the principal accounting officer of the Authority, that meets
the requirements of Section 15.05 hereof.

                  "Operating" means that:

                  (1) no Gaming License has been revoked or suspended;

                  (2) all Liens (other than Permitted Liens), if any, related to
         the development, construction and equipping of, and beginning
         operations at, the Project have been discharged or, if payment is not
         yet due or if such payment is contested in good faith by the Authority,
         the Authority has sufficient funds to discharge such Liens;

                  (3) the Project is in a condition (including the installation
         of furnishings, fixtures and equipment) to receive customers in the
         ordinary course of business;

                  (4) the Project is open to the general public and operating
         with the Minimum Facilities in accordance with applicable law; and

                                       13
<PAGE>

                  (5) the Project is open to the general public and operating in
         accordance with applicable law in all material respects.

                  "Operating Account" has the meaning set forth in the Cash
Collateral and Disbursement Agreement.

                  "Operating Expenses" means the current expenses of operation,
maintenance and repair of the Project. "Operating Expenses" shall include wages,
salaries, benefits and bonuses to personnel, the cost of materials and supplies
used for current operation and maintenance, security costs, utility expenses,
trash removal, cost of goods sold and advertising and marketing expenses,
insurance premiums and the reasonable, actual out-of-pocket expenses of the
Tribal Gaming Commission. "Operating Expenses" shall not include any of the
following: interest expense or any other payment in respect of any Indebtedness,
capital lease payments (excluding capital lease payments with respect to gaming
devices and other equipment required for the regular operations of the Project),
any allowance for depreciation, renewals or replacement of capital assets and
any other non-cash charges.

                  "Opinion of Counsel" means an opinion from legal counsel who
is reasonably acceptable to the Trustee, that meets the requirements of Section
15.05 hereof; provided, however, that such legal counsel shall not be an
employee of, or internal counsel to, the Authority, the Tribe, or any of their
Subsidiaries.

                  "Ownership Interest" means, with respect to any Person,
Capital Stock of such Person or any interest which carries the right to elect or
appoint any member of the Board of Directors or other executive office of such
Person.

                  "Participant" means, with respect to the Depositary, a Person
who has an account with the Depository.

                  "Permitted Investments" means any of the following items:

                  (1) any Investment in the Authority;

                  (2) any Investment in Cash Equivalents;

                  (3) any Investment by the Authority in a Person, if as a
         result of that Investment the Person is merged, consolidated or
         amalgamated with or into, or transfers or conveys substantially all of
         its assets to, or is liquidated into, the Authority;

                  (4) any Investment made as a result of the receipt of non-cash
         consideration from an Asset Sale that was made pursuant to and in
         compliance with Section 4.09 hereof;

                  (5) payroll advances to employees of the Authority for travel,
         entertainment and relocation expenses in the ordinary course of
         business;

                  (6) any Investments in any Persons engaged in the Gaming
         Business in an aggregate amount of up to $2.5 million;

                  (7) accounts and notes receivable if created or acquired in
         the ordinary course of business and which are payable or dischargeable
         in accordance with customary trade terms; and

                                       14
<PAGE>

                  (8) Investments related to Hedging Obligations, so long as
         such Hedging Obligations are not used for speculative purposes.

                  "Permitted Liens" means:

                  (1) Liens on the assets of the Authority created by the
         Indenture and the Collateral Documents securing the Notes;

                  (2) Liens in favor of the Authority;

                  (3) Liens existing on this date of this Indenture;

                  (4) Liens to secure Indebtedness that was permitted to be
         incurred pursuant to permitted FF&E Financing;

                  (5) Liens on property existing at the time of acquisition
         thereof by the Authority; provided that those Liens were in existence
         prior to the contemplation of the acquisition and do not extend to any
         assets other than the acquired property;

                  (6) Liens on property of a Person existing at the time such
         Person is merged with or into the Authority; provided that such Liens
         were in existence prior to the contemplation of such merger and do not
         extend to any assets other than those of the Person merged with or into
         or consolidated with the Authority;

                  (7) Liens or deposits to secure the performance of bids, trade
         contracts (other than for borrowed money), leases, statutory
         obligations, surety or appeal bonds, performance bonds or other
         obligations of a like nature incurred in the ordinary course of
         business;

                  (8) Liens for taxes, assessments or governmental charges or
         claims that are not yet delinquent or that are being contested in good
         faith by appropriate proceedings promptly instituted and diligently
         concluded, provided that any reserve or other appropriate provision as
         shall be required in conformity with GAAP shall have been made
         therefor;

                  (9) leases or subleases permitted pursuant to the terms of
         this Indenture and that are granted to others and do not in any
         material respect interfere with the business of the Authority;

                  (10) carriers', warehousemen's, mechanics', materialmen's,
         repairmen's or other similar Liens arising in the ordinary course of
         business and not overdue for a period of more than 90 days or which are
         being contested in good faith by appropriate proceedings;

                  (11) Liens incurred or deposits made in the ordinary course of
         business in connection with workers' compensation, unemployment
         insurance and other social security legislation;

                  (12) Liens arising as a result of easements, survey
         exceptions, title defects, restrictions, encumbrances reservation of,
         or rights of others for, rights of way, sewers, electric lines,
         telegraph and telephone lines and other similar purposes or zoning or
         other restrictions as to the use of real property which, in the
         aggregate, do not materially interfere with the ordinary course of the
         business of the Authority;

                                       15
<PAGE>

                  (13) Liens incurred in the ordinary course of business of the
         Authority with respect to obligations that do not exceed $2.5 million
         at any one time outstanding and that (a) are not incurred in connection
         with the borrowing of money or the obtaining of advances or credit
         (other than trade credit in the ordinary course of business) and (b) do
         not in the aggregate materially impair the operation of business by the
         Authority; provided, however, it is acknowledged that Permitted Liens
         will not include any Lien on the land held in trust for the Tribe by
         the United States or any real property interest therein, including the
         buildings, improvements and fixtures, which will give the holder
         thereof a proprietary interest in any gaming activity as prohibited by
         Section 11(b)(2)(A) of IGRA;

                  (14) Liens created by or resulting from any legal proceeding
         with respect to which the Authority is prosecuting an appeal or other
         proceeding for review and the Authority is maintaining adequate
         reserves in accordance with GAAP;

                  (15) Liens arising by reason of a judgment, decree or court
         order, to the extent not otherwise resulting in an Event of Default;
         and

                  (16) extensions, renewals or refunding of any Liens referred
         to in clauses (1) through (13) above, provided that the renewal,
         extension or refunding is limited to all or part of the assets or
         property securing the original Lien.

                  "Permitted Payments" means any of the following items:

                  (1) payments to the Tribe in an amount not to exceed $500,000
         per month;

                  (2) payments for actual services, products or benefits
         rendered, performed or delivered in the ordinary course of business of
         the Authority, which are reasonably necessary or desirable to the
         operation of the Authority, not to exceed the amount that would
         otherwise be paid for such services, products or benefits to a
         third-party in an arm's-length transaction, provided such services do
         not include payments or fees for government overhead of the Tribe or
         any unit thereof;

                  (3) any pro rata allocation of the Authority's portion of
         actual third-party costs paid by the Tribe for the direct benefit of
         the Authority;

                  (4) allocated costs of employee benefits for employees of the
         Authority paid by the Tribe, including allocated costs of third-party
         administration, provided that such allocation does not include payments
         or fees for any government overhead of the Tribe or any unit thereof;

                  (5) allocated costs of providing police, fire, medical,
         sewage, water, and other municipal or similar services to the Authority
         paid by the Tribe, not to exceed the pro rata portion of the actual
         out-of-pocket cost to the Tribe or any unit thereof;

                  (6) payments in an amount equal to reasonable, actual
         out-of-pocket expenses of the Tribal Gaming Commission;

                  (7) payments with respect to the Construction Contracts;

                  (8) payments of any costs incurred by the Tribe or the
         Authority to purchase land or make improvements thereto in an amount of
         up to $1 million, which land or improvements are complementary or
         incidental to, or useful in the business of the Authority;

                                       16
<PAGE>

                  (9) payments consisting of funds released from the
         Construction Escrow Account pursuant to the terms of the Cash
         Collateral and Disbursement Agreement; and

                  (10) payments made in accordance with the Intercreditor
         Agreement and Section 4.2.4 of the Cash Collateral and Disbursement
         Agreement.

                  "Permitted Refinancing Indebtedness" means any Indebtedness of
the Authority issued in exchange for, or the net proceeds of which are used to
extend, refinance, renew, replace, defease or refund other Indebtedness of the
Authority (other than intercompany Indebtedness); provided that:

                  (1) the principal amount (or accreted value, if applicable) of
         such Permitted Refinancing Indebtedness does not exceed the outstanding
         principal amount (or accreted value, if applicable) of the Indebtedness
         so extended, refinanced, renewed, replaced, defeased or refunded (plus
         all accrued interest thereon and the amount of all expenses and
         premiums incurred in connection therewith);

                  (2) the Permitted Refinancing Indebtedness has a final
         maturity date later than the final maturity date of, and has a Weighted
         Average Life to Maturity equal to or greater than the Weighted Average
         Life to Maturity of, the Indebtedness being extended, refinanced,
         renewed, replaced, defeased or refunded; and

                  (3) if the Indebtedness being extended, refinanced, renewed,
         replaced, defeased or refunded is subordinated in right of payment to
         the Notes, the Permitted Refinancing Indebtedness has a final maturity
         date later than the final maturity date of, and is subordinated in
         right of payment to, the Notes on terms at least as favorable to the
         Holders of the Notes as those contained in the documentation governing
         the Indebtedness being extended, refinanced, renewed, replaced,
         defeased or refunded.

                  "Person" means any individual, corporation, partnership, joint
venture, association, joint-stock company, trust, unincorporated organization,
limited liability company or government or other entity.

                  "Pledge and Security Agreement" means that certain Pledge and
Security Agreement, dated the date of the Indenture, by and among the Tribe, the
Authority and the Trustee.

                  "Private Placement Legend" means the legend set forth in
Section 2.07(g)(i) to be placed on all Notes issued under this Indenture except
where otherwise permitted by the provisions of this Indenture.

                  "Project" means the multi-amenity gaming, food and
entertainment complex, located on the Tribe's reservation in Geyserville,
California, consisting of the facilities now existing and the Expansion Project
as it comes into being, as described in the Offering Memorandum.

                  "QIB" means a "qualified institutional buyer" as defined in
Rule 144A.

                  "Qualifying Institution" means each of the following
institutions listed in subsection (f) of the State Bond Regulation, so long as
the institution, acting for its own account or the accounts of other entities
listed below, in the aggregate owns at least $100,000,000 of securities of
issuers that are not affiliated with the institution:

                                       17
<PAGE>

                  (1) any federal-regulated or state-regulated bank or savings
         association or other federal- or state-regulated lending institution;

                  (2) any company that is organized as an insurance company, the
         primary and predominant business activity of which is the writing of
         insurance or the reinsuring of risks underwritten by insurance
         companies, and that is subject to supervision by the Insurance
         Commissioner of California, or a similar official or agency of another
         state;

                  (3) any investment company registered under the federal
         Investment Company Act of 1940 (15 U.S.C. sec. 80a-1 et seq.);

                  (4) any retirement plan established and maintained by the
         United States, an agency or instrumentality thereof, or by a state, its
         political subdivisions, or any agency or instrumentality of a state or
         its political subdivisions, for the benefit of its employees;

                  (5) any employee benefit plan within the meaning of Title I of
         the federal Employee Retirement Income Security Act of 1974 (29 U.S.C.
         sec. 1001 et seq.);

                  (6) any securities dealer registered pursuant to the Exchange
         Act; or

                  (7) any entity, all of the equity owners of which individually
         meet the criteria of this definition.

                  "Registration Rights Agreement" means the Registration Rights
Agreement, dated as of November 7, 2003, by and among the Authority and the
other parties named on the signature pages thereof, as such agreement may be
amended, modified or supplemented from time to time and, with respect to any
Additional Notes, one or more registration rights agreements between the
Authority and the other parties thereto, as such agreement(s) may be amended,
modified or supplemented from time to time, relating to rights given by the
Authority to the purchaser of Additional Notes to register such Additional Notes
under the Securities Act.

                  "Responsible Officer," when used with respect to the Trustee,
means any officer within the Corporate Trust Administration of the Trustee (or
any successor group of the Trustee) or any other officer of the Trustee
customarily performing functions similar to those performed by any of the above
designated officers and also means, with respect to a particular corporate trust
matter, any other officer to whom such matter is referred because of his
knowledge of and familiarity with the particular subject.

                  "Restricted Definitive Note" means one or more Definitive
Notes bearing the Private Placement Legend.

                  "Restricted Global Note" means a Global Note bearing the
Private Placement Legend.

                  "Restricted Investment" means an Investment other than a
Permitted Investment.

                  "Rule 144" means Rule 144 promulgated under the Securities
Act.

                  "Rule 144A" means Rule 144A promulgated under the Securities
Act.

                  "Revenue Account" has the meaning set forth in the Pledge and
Security Agreement.

                  "SEC" means the Securities and Exchange Commission.

                                       18
<PAGE>

                  "Securities Act" means the Securities Act of 1933, as amended.

                  "Service Payment" means payments to the Tribe by the Authority
in an amount of up to $500,000 per month, commencing with the first full month
after the date of the issuance of the Notes which amount shall increase by 4%
per annum on each anniversary of the first day of such month; provided, however,
that the Service Payment with respect to any month shall be reduced by the
amount of payments made in connection with the Gaming Business of the Authority
under the Tribal Tax Code during the immediately preceding month.

                  "Shelf Registration Statement" means the Shelf Registration
Statement as defined in the Registration Rights Agreement.

                  "S&P" means Standard & Poor's Ratings Group and any successor
thereof.

                  "State Bond Regulation" means Regulation CGCC-2 of the
California Gambling Control Commission, as the same may be amended,
supplemented, restated or replaced from time to time.

                  "Stated Maturity" means, with respect to any installment of
interest or principal on any series of Indebtedness, the date on which such
payment of interest or principal was scheduled to be paid in the original
documentation governing such Indebtedness, and shall not include any contingent
obligations to repay, redeem or repurchase any such interest or principal prior
to the date originally scheduled for the payment thereof.

                  "Subordinated Indebtedness" means any Indebtedness which by
its terms is expressly subordinate in right of payment in any respect to the
payment of any obligation on the Notes.

                  "Subsidiary" means:

                  (1) with respect to any specified Person, any corporation,
         association or other business entity of which more than 50% of the
         total voting power of shares of Capital Stock entitled (without regard
         to the occurrence of any contingency) to vote in the election of
         directors, managers or Trustees thereof is at the time owned or
         controlled, directly or indirectly, by that Person or one or more other
         subsidiaries of that Person (or a combination thereof); and

                  (2) any instrumentality or subdivision or subunit of the
         Authority that has a separate legal existence or status or whose
         property and assets would not otherwise be bound by the terms of this
         Indenture.

                  The Tribe and any other Authority of the Tribe that is not
also an Authority of the Authority shall not be a Subsidiary of the Authority.

                  "TIA" means the Trust Indenture Act of 1939, as in effect on
the date on which this Indenture is qualified under the TIA.

                  "Total Assets" means, with respect to any Person, the
aggregate of all assets of such Person and its subsidiaries as would be shown on
the balance sheet of such Person prepared in accordance with GAAP.

                  "Transaction Date" means, with respect to the incurrence of
any Indebtedness by the Authority, the date such Indebtedness is to be incurred
and, with respect to any Restricted Payment, the date such Restricted Payment is
to be made.

                                       19
<PAGE>

                  "Treasury Rate" means the yield to maturity at the time of
computation of United States Treasury securities with a constant maturity (as
compiled and published in the most recent Federal Reserve Statistical Release H.
15(519) which has become publicly available at least two Business Days prior to
the redemption date or, if such Statistical Release is no longer published, any
publicly available source or similar market data) most nearly equal to the
period from the redemption date to November 1, 2007; provided, however, that if
the period from the redemption date to November 1, 2007 is not equal to the
constant maturity of a United States Treasury security for which a weekly
average yield is given, the Treasury Rate shall be obtained by linear
interpolation (calculated to the nearest one-twelfth of a year) from the weekly
average yields of United States Treasury securities for which such yields are
given, except that if the period from the redemption date to November 1, 2007 is
less than one year, the weekly average yield on actually traded United States
Treasury securities adjusted to a constant maturity of one year shall be used.

                  "Tribal Gaming Ordinance" means the Tribal Gaming Ordinance of
the Tribe adopted on April 8, 1997.

                  "Tribal Tax Code" means, for purposes of this Indenture, any
sales, use, room occupancy and related excise taxes, including admissions and
cabaret taxes and any other tax (other than income tax) that the Tribe may from
time to time impose on the Authority, their patrons or operations; provided,
however, that the rate and scope of such taxes shall not be more onerous than
equivalent taxes imposed by the State of California and local subdivisions
thereof.

                  "Tribe" means the Dry Creek Rancheria Band of Pomo Indians, a
sovereign Indian tribe recognized by the United States of America pursuant to 25
U.S.C. ss. 476, et seq.

                  "Trustee" means U.S. Bank National Association, a national
banking association, until a successor replaces it in accordance with the
applicable provisions of this Indenture and thereafter means the successor
serving hereunder.

                  "UCC Provision" means Ordinance No. 03-10-25-004 of the Tribe,
entitled Dry Creek Governmental Secured Transaction Code.

                  "Unrestricted Definitive Note" means one or more Definitive
Notes that do not bear and are not required to bear the Private Placement
Legend.

                  "Unrestricted Global Note" means a permanent global Note
substantially in the form of Exhibit A attached hereto that bears the Global
Note Legend and that has the "Schedule of Exchanges of Interests in the Global
Note" attached thereto, and that is deposited with or on behalf of and
registered in the name of the Depositary, representing a series of Notes that do
not bear the Private Placement Legend.

                  "U.S. Person" means a U.S. person as defined in Rule 902(o)
under the Securities Act.

                  "Weighted Average Life to Maturity" means, when applied to any
Indebtedness at any date, the number of years obtained by dividing:

                  (1) the sum of the products obtained by multiplying (a) the
         amount of each then remaining installment, sinking fund, serial
         maturity or other required payments of principal, including payment at
         final maturity, in respect thereof, by (b) the number of years
         (calculated to the nearest one-twelfth) that shall elapse between that
         date and the making of the payment; by

                  (2) the then outstanding principal amount of that
         Indebtedness.

                                       20
<PAGE>

Section 1.02      Other Definitions

                                                                  Defined
                                                                    in
        Term                                                       Section
        ----                                                       -------
        "AAA".................................................      11.01
        "Affiliate Transaction"...............................       4.10
        "Applicable Courts"...................................      11.01
        "Asset Sale Offer"....................................       3.09
        "Authentication Order"................................       2.02
        "Change of Control Offer".............................       4.14
        "Change of Control Payment"...........................       4.14
        "Change of Control Payment Date"......................       4.14
        "Covenant Defeasance".................................       8.03
        "DTC".................................................       2.04
        "Event of Default"....................................       6.01
        "Event of Loss Offer".................................       4.19
        "Excess Proceeds".....................................       4.09
        "incur"...............................................       4.08
        "Legal Defeasance"....................................       8.02
        "Offer Amount"........................................       3.09
        "Offer Period"........................................       3.09
        "Paying Agent"........................................       2.04
        "Payment Default".....................................       6.01
        "Permitted Claims"....................................      11.01
        "Permitted Debt"......................................       4.08
        "Permitted Party".....................................      11.01
        "Purchase Date".......................................       3.09
        "Registrar"...........................................       2.04
        "Related Judgment"....................................      15.09
        "Related Proceedings".................................      15.09
        "Restricted Payments".................................       4.07
        "Specified Courts"....................................      15.09

Section 1.03      Incorporation by Reference of Trust Indenture Act.

                  Whenever this Indenture refers to a provision of the TIA, the
provision is incorporated by reference in and made a part of this Indenture.

                  The following TIA terms used in this Indenture have the
following meanings:

                  "indenture securities" means the Notes;

                  "indenture security Holder" means a Holder of a Note;

                  "indenture to be qualified" means this Indenture;

                  "indenture trustee" or "institutional trustee" means the
Trustee; and

                  "obligor" on the Notes means the Authority and any successor
obligor upon the Notes.

                                       21
<PAGE>

                  All other terms used in this Indenture that are defined by the
TIA, defined by TIA reference to another statute or defined by SEC rule under
the TIA have the meanings so assigned to them.

Section 1.04      Rules of Construction.

                  Unless the context otherwise requires:

                  (a) a term has the meaning assigned to it;

                  (b) an accounting term not otherwise defined has the meaning
         assigned to it in accordance with GAAP;

                  (c) "or" is not exclusive;

                  (d) words in the singular include the plural, and in the
         plural include the singular;

                  (e) provisions apply to successive events and transactions;
         and

                  (f) references to sections of or rules under the Securities
         Act shall be deemed to include substitute, replacement of successor
         sections or rules adopted by the SEC from time to time.

                                  ARTICLE TWO
                                    THE NOTES

Section 2.01      Form and Dating.

                  (a) General. The Notes and the Trustee's certificate of
         authentication shall be substantially in the form of Exhibit A hereto.
         The Notes may have notations, legends or endorsements required by law,
         stock exchange rule or usage. Each Note shall be dated the date of its
         authentication. The Notes shall be issued only in registered form
         without coupons and only shall be in denominations of $1,000 and
         integral multiples thereof.

                  The terms and provisions contained in the Notes shall
constitute, and are hereby expressly made, a part of this Indenture and the
Authority, the Tribe and the Trustee, by their execution and delivery of this
Indenture, expressly agree to such terms and provisions and to be bound thereby.
However, to the extent any provision of any Note conflicts with the express
provisions of this Indenture, the provisions of this Indenture shall govern and
be controlling.

                  (b) Global Notes. Notes issued in global form shall be
         substantially in the form of Exhibit A attached hereto (including the
         Global Note Legend thereon and the "Schedule of Exchanges of Interests
         in the Global Note" attached thereto). Notes issued in definitive form
         shall be substantially in the form of Exhibit A attached hereto (but
         without the Global Note Legend thereon and without the "Schedule of
         Exchanges of Interests in the Global Note" attached thereto). Each
         Global Note shall represent such of the outstanding Notes as shall be
         specified therein and each shall provide that it shall represent the
         aggregate principal amount at maturity of outstanding Notes from time
         to time endorsed thereon and that the aggregate principal amount at
         maturity of outstanding Notes represented thereby may from time to time
         be reduced or increased, as appropriate, to reflect exchanges and
         redemptions. Any endorsement of a Global Note to reflect the amount of
         any increase or decrease in the aggregate principal amount at maturity
         of outstanding Notes represented thereby shall be made by the Trustee
         or the Custodian, at the direction of the Trustee, in accordance with
         instructions given by the Holder thereof as required by Section 2.07
         hereof.

                                       22
<PAGE>

Section 2.02      Execution and Authentication.

                  Two Officers of the Authority shall sign the Notes for the
Authority by manual or facsimile signature.

                  If an Officer whose signature is on a Note no longer holds
that office at the time a Note is authenticated, the Note shall nevertheless be
valid.

                  A Note shall not be valid until authenticated by the manual
signature of the Trustee. Such signature shall be conclusive evidence that the
Note has been authenticated under this Indenture.

                  The Trustee shall, upon a written order of the Authority
signed by two Officers of the Authority (an "Authentication Order"),
authenticate for original issue $200.0 million principal amount of Initial Notes
and the aggregate principal amount of any Additional Notes issued in accordance
with this Indenture.

                  The Trustee may appoint an authenticating agent acceptable to
the Authority to authenticate Notes. An authenticating agent may authenticate
Notes whenever the Trustee may do so. Each reference in this Indenture to
authentication by the Trustee includes authentication by such agent. An
authenticating agent has the same rights as an Agent to deal with Holders or an
Affiliate of the Authority.

Section 2.03      Methods of Receiving Payments on the Notes.

                  If a Holder of $1.0 million or more in principal amount of
Notes has given wire transfer instructions to the Authority, the Authority will
pay all principal, interest and premium on that Holder's Notes in accordance
with those instructions. All other payments on Notes will be made at the office
or agency of the Paying Agent and Registrar within the City and State of New
York unless the Authority elects to make interest payments by check mailed to
the Holders at their addresses set forth in the register of Holders.

Section 2.04      Registrar and Paying Agent.

                  The Authority shall maintain an office or agency where Notes
may be presented for registration of transfer or for exchange ("Registrar") and
an office or agency where Notes may be presented for payment ("Paying Agent").
The Registrar shall keep a register of the Notes and of their transfer and
exchange. The Authority may appoint one or more co-registrars and one or more
additional paying agents. The term "Registrar" includes any co-registrar and the
term "Paying Agent" includes any additional paying agent. The Authority may
change any Paying Agent or Registrar without prior notice to any Holder. The
Authority shall notify the Trustee in writing of the name and address of any
Agent not a party to this Indenture. If the Authority fails to appoint or
maintain another entity as Registrar or Paying Agent, the Trustee shall act as
such. The Authority may act as Paying Agent or Registrar.

                  The Authority initially appoints The Depository Trust Company
("DTC") to act as Depositary with respect to the Global Notes.

                                       23
<PAGE>

                  The Authority initially appoints the Trustee to act as the
Registrar and Paying Agent and to act as Custodian with respect to the Global
Notes. Any successor Registrar or Paying Agent shall be (i) a federally
regulated or state regulated bank, savings and loan, or other federally or state
regulated lending institution, (ii) a Person licensed under the Compact or (iii)
a Person exempted from such licensing requirement by the Tribal Gaming
Commission.

Section 2.05      Paying Agent to Hold Money in Trust.

                  The Authority shall require each Paying Agent other than the
Trustee to agree in writing that the Paying Agent shall hold in trust for the
benefit of Holders or the Trustee all money held by the Paying Agent for the
payment of principal, premium, if any, or interest on the Notes, and shall
notify the Trustee of any default by the Authority in making any such payment.
While any such default continues, the Trustee may require a Paying Agent to pay
all money held by it to the Trustee. The Authority at any time may require a
Paying Agent to pay all money held by it to the Trustee. Upon payment over to
the Trustee, the Paying Agent (if other than the Authority) shall have no
further liability for the money. If the Authority acts as Paying Agent, it shall
segregate and hold in a separate trust fund for the benefit of the Holders all
money held by it as Paying Agent. Upon any bankruptcy or reorganization
proceedings relating to the Authority, the Trustee shall serve as Paying Agent
for the Notes.

Section 2.06      Holder Lists.

                  The Trustee shall preserve in as current a form as is
reasonably practicable the most recent list available to it of the names and
addresses of all Holders and shall otherwise comply with TIA ss. 312(a). If the
Trustee is not the Registrar, the Authority shall furnish to the Trustee at
least seven Business Days before each interest payment date and at such other
times as the Trustee may request in writing, a list in such form and as of such
date as the Trustee may reasonably require of the names and addresses of the
Holders of Notes and the Authority shall otherwise comply with TIA ss. 312(a).
Prior to the Closing Date, the Authority shall deliver to the Trustee a list of
all Persons who have been licensed by the Tribal Gaming Commission as a
Financial Source under the Compact, and all such Persons who have been
registered under the State Bond Regulation with respect to providing financing
to the Tribe or have been otherwise found suitable for licensure by the
California Gambling Control Commission in accordance with the Compact. Within 5
business days, the Authority shall in writing notify the Trustee of the identity
of (i) each person who becomes licensed by the Tribal Gaming Commission as a
Financial Source after the Closing Date, and (ii) each person whose license as a
Financial Source is terminated or not renewed by the Tribal Gaming Commission.

Section 2.07      Transfer and Exchange.

                  (a) Transfer and Exchange of Global Notes. A Global Note may
         not be transferred as a whole except by the Depositary to a nominee of
         the Depositary, by a nominee of the Depositary to the Depositary or to
         another nominee of the Depositary, or by the Depositary or any such
         nominee to a successor Depositary or a nominee of such successor
         Depositary. Any successor Depository shall be a "clearing corporation,"
         as defined in Section 8102(f) of the California Uniform Commercial Code
         or otherwise exempted from the requirement to be licensed as a
         Financial Source, unless such Person is not a Financial Source. All
         Global Notes shall be exchanged by the Authority for Definitive Notes
         if (i) the Authority delivers to the Trustee notice from the Depositary
         that it is unwilling or unable to continue to act as Depositary or that
         it is no longer a clearing agency registered under the Exchange Act
         and, in either case, a successor Depositary is not appointed by the
         Authority within 120 days after the date of such notice from the
         Depositary; (ii) the Authority in its sole discretion determines that
         the Global Notes (in whole but not in part) should be exchanged for
         Definitive Notes and delivers a written notice to such effect to the
         Trustee; or (iii) there has occurred and is continuing a Default or
         Event of Default with respect to the Notes. Upon the occurrence of
         either of the preceding events in (i), (ii) or (iii) above, Definitive
         Notes shall be issued in such names as the Depositary shall instruct
         the Trustee. Global Notes also may be exchanged or replaced, in whole
         or in part, as provided in Sections 2.08 and 2.11 hereof. Every Note
         authenticated and delivered in exchange for, or in lieu of, a Global
         Note or any portion thereof, pursuant to this Section 2.07 or Section
         2.08 or 2.11 hereof, shall be authenticated and delivered in the form
         of, and shall be, a Global Note. A Global Note may not be exchanged for
         another Note other than as provided in this Section 2.07(a), however,
         beneficial interests in a Global Note may be transferred and exchanged
         as provided in Section 2.07(b), (c) or (f) hereof.

                                       24
<PAGE>

                  (b) Transfer and Exchange of Beneficial Interests in the
         Global Notes. The transfer and exchange of beneficial interests in the
         Global Notes shall be effected through the Depositary, in accordance
         with the provisions of this Indenture and the Applicable Procedures.
         Beneficial interests in the Restricted Global Note shall be subject to
         restrictions on transfer comparable to those set forth herein to the
         extent required by the Securities Act. Transfers of beneficial
         interests in the Global Notes also shall require compliance with either
         subparagraph (i) or (ii) below, as applicable, as well as one or more
         of the other following subparagraphs, as applicable:

                           (i) Transfer of Beneficial Interests in the Same
                  Global Note. Beneficial interests in any Restricted Global
                  Note may be transferred to Persons who take delivery thereof
                  in the form of a beneficial interest in the same Restricted
                  Global Note in accordance with the transfer restrictions set
                  forth in the Private Placement Legend. Beneficial interests in
                  any Unrestricted Global Note may be transferred to Persons who
                  take delivery thereof in the form of a beneficial interest in
                  the Unrestricted Global Note. No written orders or
                  instructions shall be required to be delivered to the
                  Registrar to effect the transfers described in this Section
                  2.07(b)(i).

                           (ii) All Other Transfers and Exchanges of Beneficial
                  Interests in Global Notes. In connection with all transfers
                  and exchanges of beneficial interests that are not subject to
                  Section 2.07(b)(i) above, the transferor of such beneficial
                  interest must deliver to the Registrar either (A) both (1) a
                  written order from a Participant or an Indirect Participant
                  given to the Depositary in accordance with the Applicable
                  Procedures directing the Depositary to credit or cause to be
                  credited a beneficial interest in another Global Note in an
                  amount equal to the beneficial interest to be transferred or
                  exchanged and (2) instructions given in accordance with the
                  Applicable Procedures containing information regarding the
                  Participant account to be credited with such increase or (B)
                  both (1) a written order from a Participant or an Indirect
                  Participant given to the Depositary in accordance with the
                  Applicable Procedures directing the Depositary to cause to be
                  issued a Definitive Note in an amount equal to the beneficial
                  interest to be transferred or exchanged and (2) instructions
                  given by the Depositary to the Registrar containing
                  information regarding the Person in whose name such Definitive
                  Note shall be registered to effect the transfer or exchange
                  referred to in (1) above. Upon consummation of an Exchange
                  Offer by the Authority in accordance with Section 2.07(f)
                  hereof, the requirements of this Section 2.07(b)(ii) shall be
                  deemed to have been satisfied upon receipt by the Registrar of
                  the instructions contained in the Letter of Transmittal
                  delivered by the Holder of such beneficial interests in the
                  Restricted Global Note. Upon satisfaction of all of the
                  requirements for transfer or exchange of beneficial interests
                  in Global Notes contained in this Indenture and the Notes or
                  otherwise applicable under the Securities Act, the Trustee
                  shall adjust the principal amount at maturity of the relevant
                  Global Notes pursuant to Section 2.07(h) hereof.

                                       25
<PAGE>

                           (iii) Transfer and Exchange of Beneficial Interests
                  in the Restricted Global Note for Beneficial Interests in the
                  Unrestricted Global Note. A beneficial interest in any
                  Restricted Global Note may be exchanged by any Holder thereof
                  for a beneficial interest in the Unrestricted Global Note or
                  transferred to a Person who takes delivery thereof in the form
                  of a beneficial interest in the Unrestricted Global Note if
                  the exchange or transfer complies with the requirements of
                  Section 2.07(b)(ii) above and:

                                    (A) such exchange or transfer is effected
                           pursuant to the Exchange Offer in accordance with the
                           Registration Rights Agreement and the Holder of the
                           beneficial interest to be transferred, in the case of
                           an exchange, or the transferee, in the case of a
                           transfer, certifies in the applicable Letter of
                           Transmittal that it is not (1) a Broker-Dealer, (2) a
                           Person participating in the distribution of the
                           Exchange Notes or (3) a Person who is an affiliate
                           (as defined in Rule 144) of the Authority;

                                    (B) such transfer is effected pursuant to
                           the Shelf Registration Statement in accordance with
                           the Registration Rights Agreement;

                                    (C) such transfer is effected by a
                           Broker-Dealer pursuant to the Exchange Offer
                           Registration Statement in accordance with the
                           Registration Rights Agreement; or

                                    (D) the Registrar receives the following:

                                    (1) if the Holder of such beneficial
                           interest in the Restricted Global Note proposes to
                           exchange such beneficial interest for a beneficial
                           interest in the Unrestricted Global Note, a
                           certificate from such Holder in the form of Exhibit C
                           hereto, including the certifications in item (1)(a)
                           thereof; or

                                    (2) if the Holder of such beneficial
                           interest in the Restricted Global Note proposes to
                           transfer such beneficial interest to a Person who
                           shall take delivery thereof in the form of a
                           beneficial interest in the Unrestricted Global Note,
                           a certificate from such Holder in the form of Exhibit
                           B hereto, including the certifications in item (4)
                           thereof;

and, in each such case set forth in this subparagraph (D), if the Registrar so
requests or if the Applicable Procedures so require, an Opinion of Counsel in
form reasonably acceptable to the Registrar to the effect that such exchange or
transfer is in compliance with the Securities Act and that the restrictions on
transfer contained herein and in the Private Placement Legend are no longer
required in order to maintain compliance with the Securities Act.

                  If any such transfer is effected pursuant to subparagraph (B)
or (D) above at a time when the Unrestricted Global Note has not yet been
issued, the Authority shall issue and, upon receipt of an Authentication Order
in accordance with Section 2.02 hereof, the Trustee shall authenticate the
Unrestricted Global Note in an aggregate principal amount at maturity equal to
the aggregate principal amount at maturity of beneficial interests transferred
pursuant to subparagraph (B) or (D) above.

                  Beneficial interests in the Unrestricted Global Note cannot be
exchanged for, or transferred to Persons who take delivery thereof in the form
of, a beneficial interest in the Restricted Global Note.

                                       26
<PAGE>

                  (c) Transfer or Exchange of Beneficial Interests for
         Definitive Notes.

                           (i) Beneficial Interests in the Restricted Global
                  Note to Restricted Definitive Notes. If any Holder of a
                  beneficial interest in the Restricted Global Note proposes to
                  exchange such beneficial interest for a Restricted Definitive
                  Note or to transfer such beneficial interest to a Person who
                  takes delivery thereof in the form of a Restricted Definitive
                  Note, then, upon receipt by the Registrar of the following
                  documentation:

                                    (A) if the Holder of such beneficial
                           interest in the Restricted Global Note proposes to
                           exchange such beneficial interest for a Restricted
                           Definitive Note, a certificate from such Holder in
                           the form of Exhibit C hereto, including the
                           certifications in item (2)(a) thereof;

                                    (B) if such beneficial interest is being
                           transferred to a QIB in accordance with Rule 144A, a
                           certificate to the effect set forth in Exhibit B
                           hereto, including the certifications in item (1)
                           thereof;

                                    (C) if such beneficial interest is being
                           transferred to a Non-U.S. Person in an offshore
                           transaction in accordance with Rule 903 or Rule 904
                           under the Securities Act, a certificate to the effect
                           set forth in Exhibit B hereto, including the
                           certifications in item (2) thereof;

                                    (D) if such beneficial interest is being
                           transferred pursuant to an exemption from the
                           registration requirements of the Securities Act in
                           accordance with Rule 144, a certificate to the effect
                           set forth in Exhibit B hereto, including the
                           certifications in item (3)(a) thereof;

                                    (E) if such beneficial interest is being
                           transferred to an Institutional Accredited Investor
                           in reliance on an exemption from the registration
                           requirements of the Securities Act other than those
                           listed in subparagraphs (B) through (D) above, a
                           certificate to the effect set forth in Exhibit B
                           hereto, including the certifications, certificates
                           and Opinion of Counsel required by item (3) thereof,
                           if applicable;

                                    (F) if such beneficial interest is being
                           transferred to the Authority, a certificate to the
                           effect set forth in Exhibit B hereto, including the
                           certifications in item (3)(b) thereof; or

                                    (G) if such beneficial interest is being
                           transferred pursuant to an effective registration
                           statement under the Securities Act, a certificate to
                           the effect set forth in Exhibit B hereto, including
                           the certifications in item (3)(c) thereof,

the Trustee shall cause the aggregate principal amount at maturity of the
applicable Global Note to be reduced accordingly pursuant to Section 2.07(h)
hereof, and the Authority shall execute and the Trustee shall authenticate and
deliver to the Person designated in the instructions a Definitive Note in the
appropriate principal amount at maturity. Any Definitive Note issued in exchange
for a beneficial interest in the Restricted Global Note pursuant to this Section
2.07(c) shall be registered in such name or names and in such authorized
denomination or denominations as the Holder of such beneficial interest shall
instruct the Registrar through instructions from the Depositary and the
Participant or Indirect Participant. The Trustee shall deliver such Definitive
Notes to the Persons in whose names such Notes are so registered. Any Definitive
Note issued in exchange for a beneficial interest in the Restricted Global Note
pursuant to this Section 2.07(c)(i) shall bear the Private Placement Legend and
shall be subject to all restrictions on transfer contained therein.

                                       27
<PAGE>

                           (ii) Beneficial Interests in the Restricted Global
                  Note to Unrestricted Definitive Notes. A Holder of a
                  beneficial interest in the Restricted Global Note may exchange
                  such beneficial interest for an Unrestricted Definitive Note
                  or may transfer such beneficial interest to a Person who takes
                  delivery thereof in the form of an Unrestricted Definitive
                  Note only if:

                                    (A) such exchange or transfer is effected
                           pursuant to the Exchange Offer in accordance with the
                           Registration Rights Agreement and the Holder of such
                           beneficial interest, in the case of an exchange, or
                           the transferee, in the case of a transfer, certifies
                           in the applicable Letter of Transmittal that it is
                           not (1) a Broker-Dealer, (2) a Person participating
                           in the distribution of the Exchange Notes or (3) a
                           Person who is an affiliate (as defined in Rule 144)
                           of the Authority;

                                    (B) such transfer is effected pursuant to
                           the Shelf Registration Statement in accordance with
                           the Registration Rights Agreement;

                                    (C) such transfer is effected by a
                           Broker-Dealer pursuant to the Exchange Offer
                           Registration Statement in accordance with the
                           Registration Rights Agreement; or

                                    (D) the Registrar receives the following:

                                    (1) if the Holder of such beneficial
                           interest in the Restricted Global Note proposes to
                           exchange such beneficial interest for a Definitive
                           Note that does not bear the Private Placement Legend,
                           a certificate from such Holder in the form of Exhibit
                           C hereto, including the certifications in item (1)(b)
                           thereof; or

                                    (2) if the Holder of such beneficial
                           interest in the Restricted Global Note proposes to
                           transfer such beneficial interest to a Person who
                           shall take delivery thereof in the form of a
                           Definitive Note that does not bear the Private
                           Placement Legend, a certificate from such Holder in
                           the form of Exhibit B hereto, including the
                           certifications in item (4) thereof;

and, in each such case set forth in this subparagraph (D), if the Registrar so
requests or if the Applicable Procedures so require, an Opinion of Counsel in
form reasonably acceptable to the Registrar to the effect that such exchange or
transfer is in compliance with the Securities Act and that the restrictions on
transfer contained herein and in the Private Placement Legend are no longer
required in order to maintain compliance with the Securities Act.

                  (iii) Beneficial Interests in the Unrestricted Global Note to
         Unrestricted Definitive Notes. If any Holder of a beneficial interest
         in the Unrestricted Global Note proposes to exchange such beneficial
         interest for a Definitive Note or to transfer such beneficial interest
         to a Person who takes delivery thereof in the form of a Definitive
         Note, then, upon satisfaction of the conditions set forth in Section
         2.07(b)(ii) hereof, the Trustee shall cause the aggregate principal
         amount of the applicable Global Note to be reduced accordingly pursuant
         to Section 2.07(h) hereof, and the Authority shall execute and the
         Trustee shall authenticate and deliver to the Person designated in the
         instructions a Definitive Note in the appropriate principal amount. Any
         Definitive Note issued in exchange for a beneficial interest pursuant
         to this Section 2.07(c)(iv) shall be registered in such name or names
         and in such authorized denomination or denominations as the Holder of
         such beneficial interest shall instruct the Registrar through
         instructions from the Depositary and the Participant or Indirect
         Participant. The Trustee shall deliver such Definitive Notes to the
         Persons in whose names such Notes are so registered. Any Definitive
         Note issued in exchange for a beneficial interest pursuant to this
         Section 2.07(c)(iv) shall not bear the Private Placement Legend.

                                       28
<PAGE>

                  (d) Transfer and Exchange of Definitive Notes for Beneficial
         Interests.

                           (i) Restricted Definitive Notes to Beneficial
                  Interests in the Restricted Global Note. If any Holder of a
                  Restricted Definitive Note proposes to exchange such Note for
                  a beneficial interest in the Restricted Global Note or to
                  transfer such Restricted Definitive Notes to a Person who
                  takes delivery thereof in the form of a beneficial interest in
                  the Restricted Global Note, then, upon receipt by the
                  Registrar of the following documentation:

                                    (A) if the Holder of such Restricted
                           Definitive Note proposes to exchange such Note for a
                           beneficial interest in the Restricted Global Note, a
                           certificate from such Holder in the form of Exhibit C
                           hereto, including the certifications in item (2)(b)
                           thereof;

                                    (B) if such Restricted Definitive Note is
                           being transferred to a QIB in accordance with Rule
                           144A, a certificate to the effect set forth in
                           Exhibit B hereto, including the certifications in
                           item (1) thereof;

                                    (C) if such Restricted Definitive Note is
                           being transferred to the Authority, a certificate to
                           the effect set forth in Exhibit B hereto, including
                           the certifications in item (3)(b) thereof; or

                                    (D) if such Restricted Definitive Note is
                           being transferred pursuant to an effective
                           registration statement under the Securities Act, a
                           certificate to the effect set forth in Exhibit B
                           hereto, including the certifications in item (3)(c)
                           thereof,

the Trustee shall cancel the Restricted Definitive Note and increase or cause to
be increased the aggregate principal amount of the Restricted Global Note.

                           (ii) Restricted Definitive Notes to Beneficial
                  Interests in the Unrestricted Global Note. A Holder of a
                  Restricted Definitive Note may exchange such Note for a
                  beneficial interest in the Unrestricted Global Note or
                  transfer such Restricted Definitive Note to a Person who takes
                  delivery thereof in the form of a beneficial interest in the
                  Unrestricted Global Note only if:

                                    (A) such exchange or transfer is effected
                           pursuant to the Exchange Offer in accordance with the
                           Registration Rights Agreement and the Holder, in the
                           case of an exchange, or the transferee, in the case
                           of a transfer, certifies in the applicable Letter of
                           Transmittal that it is not (1) a broker-dealer, (2) a
                           Person participating in the distribution of the
                           Exchange Notes or (3) a Person who is an affiliate
                           (as defined in Rule 144) of the Authority;

                                       29
<PAGE>

                                    (B) such transfer is effected pursuant to
                           the Shelf Registration Statement in accordance with
                           the Registration Rights Agreement;

                                    (C) such transfer is effected by a
                           Broker-Dealer pursuant to the Exchange Offer
                           Registration Statement in accordance with the
                           Registration Rights Agreement; or (D) the Registrar
                           receives the following:

                                             (1) if the Holder of such
                                    Definitive Notes proposes to exchange such
                                    Notes for a beneficial interest in the
                                    Unrestricted Global Note, a certificate from
                                    such Holder in the form of Exhibit C hereto,
                                    including the certifications in item (1)(c)
                                    thereof; or

                                             (2) if the Holder of such
                                    Definitive Notes proposes to transfer such
                                    Notes to a Person who shall take delivery
                                    thereof in the form of a beneficial interest
                                    in the Unrestricted Global Note, a
                                    certificate from such Holder in the form of
                                    Exhibit B hereto, including the
                                    certifications in item (4) thereof;

and, in each such case set forth in this subparagraph (D), if the Registrar so
requests or if the Applicable Procedures so require, an Opinion of Counsel in
form reasonably acceptable to the Registrar to the effect that such exchange or
transfer is in compliance with the Securities Act and that the restrictions on
transfer contained herein and in the Private Placement Legend are no longer
required in order to maintain compliance with the Securities Act.

                  Upon satisfaction of the conditions of any of the
subparagraphs in this Section 2.07(d)(ii), the Trustee shall cancel the
Definitive Notes and increase or cause to be increased the aggregate principal
amount at maturity of the Unrestricted Global Note.

                           (iii) Unrestricted Definitive Notes to Beneficial
                  Interests in the Unrestricted Global Note. A Holder of an
                  Unrestricted Definitive Note may exchange such Note for a
                  beneficial interest in the Unrestricted Global Note or
                  transfer such Definitive Notes to a Person who takes delivery
                  thereof in the form of a beneficial interest in the
                  Unrestricted Global Note at any time. Upon receipt of a
                  request for such an exchange or transfer, the Trustee shall
                  cancel the applicable Unrestricted Definitive Note and
                  increase or cause to be increased the aggregate principal
                  amount at maturity of the Unrestricted Global Note.

                  If any such exchange or transfer from a Definitive Note to a
beneficial interest is effected pursuant to subparagraphs (ii)(B), (ii)(D) or
(iii) above at a time when the Unrestricted Global Note has not yet been issued,
the Authority shall issue and, upon receipt of an Authentication Order in
accordance with Section 2.02 hereof, the Trustee shall authenticate the
Unrestricted Global Note in an aggregate principal amount at maturity equal to
the principal amount at maturity of Definitive Notes so transferred.

                  (e) Transfer and Exchange of Definitive Notes for Definitive
         Notes. Upon request by a Holder of Definitive Notes and such Holder's
         compliance with the provisions of this Section 2.07(e), the Registrar
         shall register the transfer or exchange of Definitive Notes. Prior to
         such registration of transfer or exchange, the requesting Holder shall
         present or surrender to the Registrar the Definitive Notes duly
         endorsed or accompanied by a written instruction of transfer in form
         satisfactory to the Registrar duly executed by such Holder or by its
         attorney, duly authorized in writing. In addition, the requesting
         Holder shall provide any additional certifications, documents and
         information, as applicable, required pursuant to the following
         provisions of this Section 2.07(e).

                                       30
<PAGE>

                           (i) Restricted Definitive Notes to Restricted
                  Definitive Notes. Any Restricted Definitive Note may be
                  transferred to and registered in the name of Persons who take
                  delivery thereof in the form of a Restricted Definitive Note
                  if the Registrar receives the following:

                                    (A) if the transfer will be made pursuant to
                           Rule 144A, then the transferor must deliver a
                           certificate in the form of Exhibit B hereto,
                           including the certifications in item (1) thereof;

                                    (B) if the transfer will be made pursuant to
                           Rule 903 or Rule 904 under the Securities Act, then
                           the transferor must deliver a certificate in the form
                           of Exhibit B hereto, including the certifications in
                           item (2) thereof; and

                                    (C) if the transfer will be made pursuant to
                           any other exemption from the registration
                           requirements of the Securities Act, then the
                           transferor must deliver a certificate in the form of
                           Exhibit B hereto, including the certifications,
                           certificates and Opinion of Counsel required by item
                           (3) thereof, if applicable.

                           (ii) Restricted Definitive Notes to Unrestricted
                  Definitive Notes. Any Restricted Definitive Note may be
                  exchanged by the Holder thereof for an Unrestricted Definitive
                  Note or transferred to a Person or Persons who take delivery
                  thereof in the form of an Unrestricted Definitive Note if:

                                    (A) such exchange or transfer is effected
                           pursuant to the Exchange Offer in accordance with the
                           Registration Rights Agreement and the Holder, in the
                           case of an exchange, or the transferee, in the case
                           of a transfer, certifies in the applicable Letter of
                           Transmittal that it is not (1) a broker-dealer, (2) a
                           Person participating in the distribution of the
                           Exchange Notes or (3) a Person who is an affiliate
                           (as defined in Rule 144) of the Authority;

                                    (B) any such transfer is effected pursuant
                           to the Shelf Registration Statement in accordance
                           with the Registration Rights Agreement;

                                    (C) any such transfer is effected by a
                           Broker-Dealer pursuant to the Exchange Offer
                           Registration Statement in accordance with the
                           Registration Rights Agreement; or

                                    (D) the Registrar receives the following:

                                    (1) if the Holder of such Restricted
                           Definitive Notes proposes to exchange such Notes for
                           an Unrestricted Definitive Note, a certificate from
                           such Holder in the form of Exhibit C hereto,
                           including the certifications in item (1)(d) thereof;
                           or

                                    (2) if the Holder of such Restricted
                           Definitive Notes proposes to transfer such Notes to a
                           Person who shall take delivery thereof in the form of
                           an Unrestricted Definitive Note, a certificate from
                           such Holder in the form of Exhibit B hereto,
                           including the certifications in item (4) thereof;

                                       31
<PAGE>

and, in each such case set forth in this subparagraph (D), if the Registrar so
requests, an Opinion of Counsel in form reasonably acceptable to the Authority
to the effect that such exchange or transfer is in compliance with the
Securities Act and that the restrictions on transfer contained herein and in the
Private Placement Legend are no longer required in order to maintain compliance
with the Securities Act.

                           (iii) Unrestricted Definitive Notes to Unrestricted
                  Definitive Notes. A Holder of Unrestricted Definitive Notes
                  may transfer such Notes to a Person who takes delivery thereof
                  in the form of an Unrestricted Definitive Note. Upon receipt
                  of a request to register such a transfer, the Registrar shall
                  register the Unrestricted Definitive Notes pursuant to the
                  instructions from the Holder thereof.

                  (f) Exchange Offer. Upon the occurrence of the Exchange Offer
         in accordance with the Registration Rights Agreement, the Authority
         shall issue and, upon receipt of an Authentication Order in accordance
         with Section 2.02, the Trustee shall authenticate (i) the Unrestricted
         Global Note in an aggregate principal amount at maturity equal to the
         principal amount at maturity of the beneficial interests in the
         Restricted Global Note tendered for acceptance by Persons that certify
         in the applicable Letters of Transmittal that (x) they are not
         Broker-Dealers, (y) they are not participating in a distribution of the
         Exchange Notes and (z) they are not affiliates (as defined in Rule 144)
         of the Authority, and (ii) Definitive Notes in an aggregate principal
         amount at maturity equal to the principal amount at maturity of the
         Restricted Definitive Notes accepted for exchange in the Exchange
         Offer. Concurrently with the issuance of such Notes, the Trustee shall
         cause the aggregate principal amount at maturity of the Restricted
         Global Note to be reduced accordingly, and the Authority shall execute
         and the Trustee shall authenticate and deliver to the Persons
         designated by the Holders of Definitive Notes so accepted Definitive
         Notes in the appropriate principal amount at maturity. Any Notes that
         remain outstanding after the consummation of the Exchange Offer, and
         Exchange Notes issued in connection with the Exchange Offer, shall be
         treated as a single class of securities under this Indenture.

                  (g) Legends. The following legends shall appear on the face of
         all Global Notes and Definitive Notes issued under this Indenture
         unless, in the case of clauses (i) and (ii) below only, specifically
         stated otherwise in the applicable provisions of this Indenture.

                           (i) Private Placement Legend. Except as permitted
                  below, each Global Note and each Definitive Note (and all
                  Notes issued in exchange therefor or substitution thereof)
                  shall bear the legend in substantially the following form:

                  THE SECURITY (OR ITS PREDECESSOR) EVIDENCED HEREBY WAS
                  ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION
                  UNDER SECTION 5 OF THE UNITED STATES SECURITIES ACT OF 1933,
                  AS AMENDED (THE "SECURITIES ACT"), AND THE SECURITY EVIDENCED
                  HEREBY MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN
                  THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION
                  THEREFROM. EACH PURCHASER OF THE SECURITY EVIDENCED HEREBY IS
                  HEREBY NOTIFIED THAT THE SELLER MAY BE RELYING ON THE
                  EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES
                  ACT PROVIDED BY RULE 144A THEREUNDER. THE HOLDER OF THE
                  SECURITY EVIDENCED HEREBY AGREES FOR THE BENEFIT OF THE
                  INSTRUMENTALITY THAT

                                       32
<PAGE>

                                    (A) SUCH SECURITY MAY BE RESOLD, PLEDGED OR
                           OTHERWISE TRANSFERRED ONLY

                                            (i)(a) TO A PERSON WHO THE SELLER
                           REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL
                           BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES
                           ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF
                           RULE 144A, (b) IN A TRANSACTION MEETING THE
                           REQUIREMENTS OF RULE 144A UNDER THE SECURITIES ACT,
                           (c) TO AN INSTITUTIONAL "ACCREDITED INVESTOR" (AS
                           DEFINED IN RULE 501(a)(1), (2), (3) OR (7) OF THE
                           SECURITIES ACT (AN "INSTITUTIONAL ACCREDITED
                           INVESTOR") THAT, PRIOR TO SUCH TRANSFER, FURNISHES
                           THE TRUSTEE A SIGNED LETTER CONTAINING CERTAIN
                           REPRESENTATIONS AND AGREEMENTS (THE FORM OF WHICH CAN
                           BE OBTAINED FROM THE TRUSTEE) AND, IF SUCH TRANSFER
                           IS IN RESPECT OF AN AGGREGATE PRINCIPAL AMOUNT OF
                           NOTES LESS THAN $100,000, AN OPINION OF COUNSEL
                           ACCEPTABLE TO THE INSTRUMENTALITY THAT SUCH TRANSFER
                           IS IN COMPLIANCE WITH THE SECURITIES ACT, OR (d) IN
                           ACCORDANCE WITH ANOTHER EXEMPTION FROM THE
                           REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND
                           BASED UPON AN OPINION OF COUNSEL IF THE
                           INSTRUMENTALITY SO REQUESTS),

                                            (ii) TO THE INSTRUMENTALITY, OR

                                            (iii) PURSUANT TO AN EFFECTIVE
                           REGISTRATION STATEMENT AND, IN EACH CASE, IN
                           ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY
                           STATE OF THE UNITED
                           STATES OR ANY OTHER APPLICABLE JURISDICTION; AND

                                    (B) THE HOLDER SHALL, AND EACH SUBSEQUENT
                           HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER FROM IT
                           OF THE SECURITY EVIDENCED HEREBY OF THE RESALE
                           RESTRICTIONS SET FORTH IN (A) ABOVE.

                  Notwithstanding the foregoing, any Global Note or Definitive
                  Note issued pursuant to subparagraph (b)(iv), (c)(ii),
                  (c)(iii), (d)(ii), (d)(iii), (e)(ii), (e)(iii) or (f) to this
                  Section 2.07 (and all Notes issued in exchange therefor or
                  substitution thereof) shall not bear the Private Placement
                  Legend.

                           (ii) Global Note Legend. Each Global Note shall bear
                  a legend in substantially the following form:

                  "THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE
                  INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR
                  THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT
                  TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT
                  (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE
                  REQUIRED PURSUANT TO SECTION 2.08 OF THE INDENTURE, (II) THIS
                  GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT
                  TO SECTION 2.07(a) OF THE INDENTURE, (III) THIS GLOBAL NOTE
                  MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO
                  SECTION 2.12 OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE
                  TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN
                  CONSENT OF THE INSTRUMENTALITY.

                                       33
<PAGE>

                  UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES
                  IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS
                  A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY
                  A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER
                  NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH
                  NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH
                  SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY
                  AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY
                  (55 WATER STREET, NEW YORK, NEW YORK) ("DTC"), TO THE COMPANY
                  OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR
                  PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME
                  OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN
                  AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
                  CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN
                  AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR
                  OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
                  WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO.,
                  HAS AN INTEREST HEREIN."

                           (iii) Financial Source Legend. Notwithstanding
                  anything to the contrary contained in this Indenture, each
                  Global Note and each Definitive Note issued under this
                  Indenture (and all Notes issued in exchange therefor or
                  substitution thereof) shall bear a legend in substantially the
                  following form:

                  THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO,
                  NOTIFY ANY SUBSEQUENT PURCHASER FROM IT OF THE SECURITY
                  EVIDENCED HEREBY THAT, UNLESS SUCH PURCHASER IS LICENSED AS A
                  LENDER PURSUANT TO THE DRY CREEK RANCHERIA BAND OF POMO
                  INDIANS' TRIBAL-STATE GAMING COMPACT OR IS EXEMPTED FROM SUCH
                  LICENSING REQUIREMENTS, SUCH PURCHASER WILL NOT BE ABLE TO
                  RECEIVE PAYMENT ON THE NOTES AFTER AN ACCELERATION AND WILL
                  NOT BE ABLE TO ENFORCE THE NOTES OR THE INDENTURE AGAINST THE
                  INSTRUMENTALITY.

                  (h) Cancellation and/or Adjustment of Global Notes. At such
         time as all beneficial interests in a particular Global Note have been
         exchanged for Definitive Notes or a particular Global Note has been
         redeemed, repurchased or canceled in whole and not in part, each such
         Global Note shall be returned to or retained and canceled by the
         Trustee in accordance with Section 2.12 hereof. At any time prior to
         such cancellation, if any beneficial interest in a Global Note is
         exchanged for or transferred to a Person who will take delivery thereof
         in the form of a beneficial interest in another Global Note or for
         Definitive Notes, the principal amount at maturity of Notes represented
         by such Global Note shall be reduced accordingly and an endorsement
         shall be made on such Global Note by the Trustee or by the Depositary
         at the direction of the Trustee to reflect such reduction; and if the
         beneficial interest is being exchanged for or transferred to a Person
         who will take delivery thereof in the form of a beneficial interest in
         another Global Note, such other Global Note shall be increased
         accordingly and an endorsement shall be made on such Global Note by the
         Trustee or by the Depositary at the direction of the Trustee to reflect
         such increase.

                                       34
<PAGE>

                  (i) General Provisions Relating to Transfers and Exchanges.

                           (i) To permit registrations of transfers and
                  exchanges, the Authority shall execute and the Trustee shall
                  authenticate Global Notes and Definitive Notes upon receipt of
                  the Authority's Authentication Order or at the Registrar's
                  request.

                           (ii) No service charge shall be made to a Holder of a
                  beneficial interest in a Global Note or to a Holder of a
                  Definitive Note for any registration of transfer or exchange,
                  but the Authority may require payment of a sum sufficient to
                  cover any transfer tax or similar governmental charge payable
                  in connection therewith (other than any such transfer taxes or
                  similar governmental charge payable upon exchange or transfer
                  pursuant to Sections 2.11, 3.06, 3.09, 4.09, 4.14 and 9.05
                  hereof).

                           (iii) The Registrar shall not be required to register
                  the transfer of or exchange any Note selected for redemption
                  in whole or in part, except the unredeemed portion of any Note
                  being redeemed in part.

                           (iv) All Global Notes and Definitive Notes issued
                  upon any registration of transfer or exchange of Global Notes
                  or Definitive Notes shall be the valid obligations of the
                  Authority, evidencing the same debt, and entitled to the same
                  benefits under this Indenture, as the Global Notes or
                  Definitive Notes surrendered upon such registration of
                  transfer or exchange.

                           (v) The Authority shall not be required (A) to issue,
                  to register the transfer of or to exchange any Notes during a
                  period beginning at the opening of business 15 days before the
                  day of any selection of Notes for redemption under Section
                  3.02 hereof and ending at the close of business on the day of
                  selection, (B) to register the transfer of or to exchange any
                  Note so selected for redemption in whole or in part, except
                  the unredeemed portion of any Note being redeemed in part or
                  (C) to register the transfer of or to exchange a Note between
                  a record date and the next succeeding interest payment date.

                           (vi) Prior to due presentment for the registration of
                  a transfer of any Note, the Trustee, any Agent and the
                  Authority may deem and treat the Person in whose name any Note
                  is registered as the absolute owner of such Note for the
                  purpose of receiving payment of principal of and interest on
                  such Notes and for all other purposes, and none of the
                  Trustee, any Agent or the Authority shall be affected by
                  notice to the contrary.

                           (vii) The Trustee shall authenticate Global Notes and
                  Definitive Notes in accordance with the provisions of Section
                  2.02 hereof.

                           (viii) All certifications, certificates and Opinions
                  of Counsel required to be submitted to the Registrar pursuant
                  to this Section 2.07 to effect a registration of transfer or
                  exchange may be submitted by facsimile.

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                           (ix) Each Holder of a Note agrees to indemnify the
                  Authority and the Trustee against any liability that may
                  result from the transfer, exchange or assignment of such
                  Holder's Note in violation of any provision of this Indenture
                  and/or applicable United States Federal or state securities
                  law.

                           (x) The Trustee shall have no obligation or duty to
                  monitor, determine or inquire as to compliance with any
                  restrictions on transfer imposed under this Indenture or under
                  applicable law with respect to any transfer of any interest in
                  any Note (including any transfers between or among Depositary
                  participants or beneficial owners of interest in any Global
                  Note) other than to require delivery of such certificates and
                  other documentation or evidence as are expressly required by,
                  and to do so if and when expressly required by the terms of,
                  this Indenture, and to examine the same to determine
                  substantial compliance as to form with the express
                  requirements hereof.

Section 2.08      Replacement Notes.

                  If any mutilated Note is surrendered to the Trustee or the
Authority and the Trustee receives evidence to its satisfaction of the
destruction, loss or theft of any Note, the Authority shall issue and the
Trustee, upon receipt of an Authentication Order, shall authenticate a
replacement Note if the Trustee's requirements are met. If required by the
Trustee or the Authority, an indemnity bond must be supplied by the Holder that
is sufficient in the judgment of the Trustee and the Authority to protect the
Authority, the Trustee, any Agent and any authenticating agent from any loss
that any of them may suffer if a Note is replaced. The Authority may charge for
its expenses in replacing a Note.

                  Every replacement Note is an additional obligation of the
Authority and shall be entitled to all of the benefits of this Indenture equally
and proportionately with all other Notes duly issued hereunder.

Section 2.09      Outstanding Notes.

                  The Notes outstanding at any time are all the Notes
authenticated by the Trustee except for those canceled by it, those delivered to
it for cancellation, those reductions in the interest in a Global Note effected
by the Trustee in accordance with the provisions hereof, and those described in
this Section as not outstanding. Except as set forth in Section 2.10 hereof, a
Note does not cease to be outstanding because the Authority or an Affiliate of
the Authority holds the Note.

                  If a Note is replaced pursuant to Section 2.08 hereof, it
ceases to be outstanding unless the Trustee receives proof satisfactory to it
that the replaced Note is held by a bona fide purchaser.

                  If the principal amount at maturity of any Note is considered
paid under Section 4.01 hereof, it ceases to be outstanding and interest on it
ceases to accrue.

                  If the Paying Agent (other than the Authority or an Affiliate
of any of the foregoing) holds, on a redemption date or maturity date, money
sufficient to pay Notes payable on that date, then on and after that date such
Notes shall be deemed to be no longer outstanding and shall cease to accrue
interest.

Section 2.10      Treasury Notes.

                  In determining whether the Holders of the required principal
amount of Notes have concurred in any direction, waiver or consent, Notes owned
by the Authority, or by any Person directly or indirectly controlling or
controlled by or under direct or indirect common control with the Authority,
shall be considered as though not outstanding, except that for the purposes of
determining whether the Trustee shall be protected in relying on any such
direction, waiver or consent, only Notes that the Trustee knows are so owned
shall be so disregarded.

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<PAGE>

Section 2.11      Temporary Notes.

                  Until certificates representing Notes are ready for delivery,
the Authority may prepare and the Trustee, upon receipt of an Authentication
Order, shall authenticate temporary Notes. Temporary Notes shall be
substantially in the form of Definitive Notes but may have variations that the
Authority considers appropriate for temporary Notes and as shall be reasonably
acceptable to the Trustee. Without unreasonable delay, the Authority shall
prepare and the Trustee shall authenticate definitive Notes in exchange for
temporary Notes.

                  Holders of temporary Notes shall be entitled to all of the
benefits of this Indenture.

Section 2.12      Cancellation.

                  The Authority at any time may deliver Notes to the Trustee for
cancellation. The Registrar and Paying Agent shall forward to the Trustee any
Notes surrendered to them for registration of transfer, exchange or payment. The
Trustee and no one else shall cancel all Notes surrendered for registration of
transfer, exchange, payment, replacement or cancellation and shall dispose of
canceled Notes in accordance with its procedures for the disposition of canceled
securities in effect as of the date of such disposition (subject to the record
retention requirement of the Exchange Act). Certification of the disposition of
all canceled Notes shall be delivered to the Authority. The Authority may not
issue new Notes to replace Notes that it has paid or that have been delivered to
the Trustee for cancellation.

Section 2.13      Reserved.

Section 2.14      CUSIP Numbers.

                  The Authority in issuing the Notes may use "CUSIP" numbers (if
then generally in use), and, if so, the Trustee shall use "CUSIP" numbers in
notices of redemption as a convenience to Holders; provided that any such notice
may state that no representation is made as to the correctness of such numbers
either as printed on the Notes or as contained in any notice of a redemption and
that reliance may be placed only on the other identification numbers printed on
the Notes, and any such redemption shall not be affected by any defect in or
omission of such numbers. The Authority shall promptly notify the Trustee of any
change in the "CUSIP" numbers.

                                 ARTICLE THREE
                           REDEMPTION AND PREPAYMENT;
                           SATISFACTION AND DISCHARGE

Section 3.01      Notices to Trustee.

                  If the Authority elects to redeem Notes pursuant to the
optional redemption provisions of Section 3.07 hereof, it shall furnish to the
Trustee, at least 45 days but not more than 60 days before a redemption date,
unless the Trustee is willing to accept a shorter period, an Officers
Certificate setting forth (i) the clause of this Indenture pursuant to which the
redemption shall occur, (ii) the redemption date, (iii) the principal amount at
maturity of Notes to be redeemed and (iv) the redemption price.

                                       37
<PAGE>

Section 3.02      Selection of Notes to Be Redeemed.

                  If less than all of the Notes are to be redeemed or purchased
in an offer to purchase at any time, the Trustee shall select the Notes to be
redeemed or purchased among those Holders of the Notes whose Notes are permitted
by Article Thirteen hereof to be redeemed, on a pro rata basis, by lot or in
accordance with any other method the Trustee considers fair and appropriate. In
the event of partial redemption by lot, the particular Notes to be redeemed
shall be selected, unless otherwise provided herein, not less than 30 nor more
than 60 days prior to the redemption date by the Trustee from the outstanding
Notes not previously called for redemption and which are permitted by Article
Thirteen hereof to be redeemed; provided that if an Event of Default has
occurred and payments on the Notes have been accelerated in accordance herewith,
such selection shall not occur until the Trustee has provided notice to the
Holders as required by Section 6.02 hereof.

                  The Trustee shall promptly notify the Authority in writing of
the Notes selected for redemption and, in the case of any Note selected for
partial redemption, the principal amount at maturity thereof to be redeemed. No
Notes in amounts of $1,000 or less shall be redeemed in part. Notes and portions
of Notes selected shall be in amounts of $1,000 or whole multiples of $1,000;
except that if all of the Notes of a Holder are to be redeemed, the entire
outstanding amount of Notes held by such Holder, even if not a multiple of
$1,000, shall be redeemed. Except as provided in the preceding sentence,
provisions of this Indenture that apply to Notes called for redemption also
apply to portions of Notes called for redemption.

Section 3.03      Notice of Redemption.

                  Subject to the provisions of Section 3.09 hereof, at least 30
days but not more than 60 days before a redemption date, the Authority shall
mail or cause to be mailed, by first class mail, a notice of redemption to each
Holder whose Notes are to be redeemed at its registered address.

                  The notice shall identify the Notes to be redeemed and shall
state:

                  (a) the redemption date;

                  (b) the redemption price;

                  (c) if any Note is being redeemed in part, the portion of the
         principal amount at maturity of such Note to be redeemed and that,
         after the redemption date upon surrender of such Note, a new Note or
         Notes in principal amount equal to the unredeemed portion of the
         original Note shall be issued in the name of the Holder thereof upon
         cancellation of the original Note;

                  (d) the name and address of the Paying Agent;

                  (e) that Notes called for redemption must be surrendered to
         the Paying Agent to collect the redemption price;

                  (f) that, unless the Authority defaults in making such
         redemption payment and interest on Notes called for redemption ceases
         to accrue on and after the redemption date;

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<PAGE>

                  (g) the paragraph of the Notes and/or Section of this
         Indenture pursuant to which the Notes called for redemption are being
         redeemed; and

                  (h) that no representation is made as to the correctness or
         accuracy of the CUSIP number, if any, listed in such notice or printed
         on the Notes.

                  At the Authority's request, the Trustee shall give the notice
of redemption in the Authority's name and at its expense; provided, however,
that the Authority shall have delivered to the Trustee, at least 45 days prior
to the redemption date, unless the Trustee is willing to accept a shorter
period, an Officers Certificate requesting that the Trustee give such notice and
setting forth the information to be stated in such notice as provided in the
preceding paragraph.

Section 3.04      Effect of Notice of Redemption.

                  Once notice of redemption is mailed in accordance with Section
3.03 hereof, Notes called for redemption become irrevocably due and payable on
the redemption date at the redemption price, subject to Article Thirteen hereof.
A notice of redemption may not be conditional.

Section 3.05      Deposit of Redemption Price.

                  One Business Day prior to the redemption date, the Authority
shall deposit with the Trustee or with the Paying Agent money sufficient to pay
the redemption price of and accrued interest on all Notes to be redeemed on that
date. The Trustee or the Paying Agent shall promptly return to the Authority any
money deposited with the Trustee or the Paying Agent by the Authority in excess
of the amounts necessary to pay the redemption price of, and accrued interest
on, all Notes to be redeemed.

                  If the Authority complies with the provisions of the preceding
paragraph, on and after the redemption date, interest shall cease to accrue on
the Notes or the portions of Notes called for redemption. If a Note is redeemed
on or after an interest record date but on or prior to the related interest
payment date, then any accrued and unpaid interest shall be paid to the Person
in whose name such Note was registered at the close of business on such record
date. If any Note called for redemption shall not be so paid upon surrender for
redemption because of the failure of the Authority to comply with the preceding
paragraph, interest shall be paid on the unpaid principal, from the redemption
date until such principal is paid, and to the extent lawful on any interest not
paid on such unpaid principal, in each case at the rate provided in the Notes
and in Section 4.01 hereof.

Section 3.06      Notes Redeemed in Part.

                  Upon surrender of a Note that is redeemed in part, the
Authority shall issue and the Trustee shall authenticate for the Holder at the
expense of the Authority a new Note equal in principal amount at maturity to the
unredeemed portion of the Note surrendered. No Notes in denominations of $1,000
or less shall be redeemed in part.

Section 3.07      Optional Redemption.

                  (a) Subject to the restrictions set forth in Article Thirteen,
         the Authority may, at any time prior to November 1, 2007 redeem all or
         part of the Notes, upon not less than 30 or more than 60 days' prior
         notice, at a redemption price equal to 100% of the principal amount
         thereof, plus the Make Whole Premium, accrued and unpaid interest
         thereon to the applicable redemption date.

                                       39
<PAGE>

                  (b) Except as set forth in clause (a) of this Section 3.07,
         the Authority shall not have the option to redeem the Notes pursuant to
         this Section 3.07 prior to November 1, 2007. Thereafter, subject to the
         restrictions in Article Thirteen hereof, the Authority may redeem all
         or a part of the Notes upon not less than 30 nor more than 60 days'
         notice, at the redemption prices (expressed as percentages of principal
         amount) set forth below plus accrued and unpaid interest thereon, to
         the applicable redemption date, if redeemed during the twelve-month
         period beginning on November 1 of the years indicated below (subject to
         the right of Holders on the relevant record date to receive interest
         due on the related interest payment date):

                    Year                                     Percentage
                    ----                                     ----------
                    2007...............................      104.875%
                    2008...............................      102.438%
                    2009 and thereafter................      100.000%

                  (c) Any redemption pursuant to this Section 3.07 shall be made
         pursuant to the provisions of Sections 3.01 through 3.06 hereof.

Section 3.08      Redemption Pursuant to Gaming Law.

                  (a) Notwithstanding any other provisions of this Article 3, if
         a Gaming Authority determines, and a Holder or Beneficial Owner of the
         Notes is notified, that such Holder or Beneficial Owner must obtain a
         license, qualification or finding of suitability under any applicable
         gaming law and the Holder or Beneficial Owner does not apply for that
         license, qualification or finding of suitability within 30 days after
         being requested to do so by such Gaming Authority (or such lesser
         period that may be required by such Gaming Authority), or if such
         Holder or Beneficial Owner shall not be licensed, qualified or found
         suitable under applicable gaming law, or any license, qualification or
         finding of suitability is not renewed upon its expiration or is
         revoked, or the Holder or Beneficial Owner has been found to be
         unsuitable for licensing, then the Authority, at its option, may (i)
         require such Holder or Beneficial Owner to dispose of such Holder's or
         Beneficial Owner's Notes within 30 days, or any earlier date as may be
         required by the Gaming Authority, of (A) the termination of the 30-day
         period or any shorter period as may be required by a Gaming Authority,
         in each case as described above, for the Holder or Beneficial Owner to
         apply for a license, qualification or finding of suitability or (B) the
         receipt of notice from the Gaming Authority that the Holder or
         Beneficial Owner shall not be licensed, qualified or found suitable or
         (ii) subject to the restrictions set forth in Article Thirteen, redeem
         the Notes of such Holder or Beneficial Owner at a price equal to (1) if
         such determination is made by the Tribal Gaming Commission or any other
         Gaming Authority of the Tribe, and not by the CGCC, the then-applicable
         redemption price as set forth in Section 3.07 or (2) in all other
         cases, the least of (A) 100% of the principal amount thereof, (B) the
         price at which such Holder or Beneficial Owner acquired the Notes and
         (C) the fair market value of the Notes, together with, in each case, to
         the extent permitted by the Compact, accrued and unpaid interest
         thereon to the earlier of the date of redemption or such earlier date
         as may be required by the Gaming Authority or the date of the finding
         of unsuitability by such Gaming Authority, which may be less than 30
         days following the notice of redemption, if so ordered by such Gaming
         Authority.

                                       40
<PAGE>

                  (b) Immediately upon a determination that a Holder or
         Beneficial Owner shall not be licensed, qualified or found suitable, or
         that such license, qualification or finding of suitability has been
         revoked or will not be renewed, the Holder or Beneficial Owner shall
         have no further rights (1) to exercise any right conferred by the
         Notes, directly or indirectly, through any Trustee, nominee or any
         other Person or entity, or (2) to receive any interest or other
         distribution or payment with respect to the Notes or any remuneration
         in any form from the Authority for services rendered or otherwise,
         except the redemption price of the Notes.

                  (c) The Holder or Beneficial Owner of Notes applying for a
         license, qualification or a finding of suitability may be required to
         pay all costs of the licenses or investigation for this qualification
         or finding of suitability. The Authority is not required to pay or
         reimburse any Holder or Beneficial Owner of Notes who is required to
         apply for any license, qualification or finding of suitability.

Section 3.09      Repurchase Offers.

                  In the event that, pursuant to Section 4.09 hereof, the
Authority shall be required to commence an offer to all Holders to purchase
their respective Notes (an "Asset Sale Offer"), it shall follow the procedures
specified below and in any event this Section shall be subject to the
restrictions in Article Thirteen hereof.

                  The Asset Sale Offer shall remain open for a period of 20
Business Days following its commencement and no longer, except to the extent
that a longer period is required by applicable law (the "Offer Period"). No
later than five Business Days after the termination of the Offer Period (the
"Purchase Date"), the Authority shall purchase at the purchase price (as
determined in accordance with Section 4.09 hereof) the maximum principal amount
of Notes that are required to be purchased pursuant to Section 4.09 hereof (the
"Offer Amount") or, if less than the Offer Amount has been tendered, all Notes
tendered in response to the Asset Sale Offer. The offer price in any Asset Sale
Offer shall be equal to 100% of the principal amount plus accrued and unpaid
interest to the date of purchase, and shall be payable in cash. Payment for any
Notes so purchased shall be made in the same manner as interest payments are
made.

                  If the Purchase Date is on or after an interest record date
and on or before the related interest payment date, any accrued and unpaid
interest shall be paid to the Person in whose name a Note is registered at the
close of business on such record date, and no additional interest shall be
payable to Holders who tender Notes pursuant to the Asset Sale Offer.

                  Upon the commencement of an Asset Sale Offer, the Authority
shall send, by first class mail, a notice to the Trustee and each of the
Holders, with a copy to the Trustee. The notice shall contain all instructions
and materials necessary to enable such Holders to tender Notes pursuant to the
Asset Sale Offer. The Asset Sale Offer shall be made to all Holders. The notice,
which shall govern the terms of the Asset Sale Offer, shall state:

                  (a) that the Asset Sale Offer is being made pursuant to this
         Section 3.09 and Section 4.09 hereof, and the length of time the Asset
         Sale Offer shall remain open;

                  (b) the Offer Amount, the purchase price and the Purchase
         Date;

                  (c) that any Note not tendered or accepted for payment shall
         continue to accrete or accrue interest;

                  (d) that, unless the Authority defaults in making such
         payment, any Note (or portion thereof) accepted for payment pursuant to
         the Asset Sale Offer shall cease to accrete or accrue interest after
         the Purchase Date;

                                       41
<PAGE>

                  (e) that Holders electing to have a Note purchased pursuant to
         an Asset Sale Offer may elect to have Notes purchased in integral
         multiples of $1,000 only;

                  (f) that Holders electing to have a Note purchased pursuant to
         any Asset Sale Offer shall be required to surrender the Note, with the
         form entitled "Option of Holder to Elect Purchase" on the reverse of
         the Note completed, or transfer by book-entry transfer, to the
         Authority, a depositary, if appointed by the Authority, or a Paying
         Agent at the address specified in the notice at least three days before
         the Purchase Date;

                  (g) that Holders shall be entitled to withdraw their election
         if the Authority, the Depositary or the Paying Agent, as the case may
         be, receives, not later than the expiration of the Offer Period, a
         telegram, telex, facsimile transmission or letter setting forth his
         name, the principal amount of the Note the Holder delivered for
         purchase and a statement that such Holder is withdrawing his election
         to have such Note purchased;

                  (h) that, if the aggregate amount of Notes surrendered by
         Holders exceeds the Offer Amount, the Trustee shall select the Notes to
         be purchased pursuant to the terms of Section 3.02 hereof (with such
         adjustments as may be deemed appropriate by the Trustee so that only
         Notes in denominations of $1,000, or integral multiples thereof, shall
         be purchased); and

                  (i) that Holders whose Notes were purchased only in part shall
         be issued new Notes equal in principal amount at maturity to the
         unpurchased portion of the Notes surrendered (or transferred by
         book-entry transfer).

                  On the Purchase Date, the Authority shall, to the extent
lawful, accept for payment, pursuant to the terms of Section 3.02 hereof, the
Offer Amount of Notes (or portions thereof) tendered pursuant to the Asset Sale
Offer, or if less than the Offer Amount has been tendered, all Notes tendered,
and shall deliver to the Trustee an Officers' Certificate stating that such
Notes (or portions thereof) were accepted for payment by the Authority in
accordance with the terms of this Section 3.09. The Authority, the Depositary or
the Paying Agent, as the case may be, shall promptly (but in any case not later
than five days after the Purchase Date) mail or deliver to each tendering Holder
an amount equal to the purchase price of Notes tendered by such Holder, as the
case may be, and accepted by the Authority for purchase, and the Authority,
shall promptly issue a new Note. The Trustee, upon written request from the
Authority shall authenticate and mail or deliver such new Note to such Holder,
in a principal amount at maturity equal to any unpurchased portion of the Note
surrendered. Any Note not so accepted shall be promptly mailed or delivered by
the Authority to the respective Holder thereof. The Authority shall publicly
announce the results of the Asset Sale Offer on the Purchase Date.

                  The Authority shall comply with the requirements of Rule 14e-1
under the Exchange Act, and any other securities laws and regulations thereunder
to the extent such laws or regulations are applicable in connection with the
repurchase of the Notes pursuant to an Asset Sale Offer.

                  Other than as specifically provided in this Section 3.09, any
purchase pursuant to this Section 3.09 shall be made pursuant to the provisions
of Sections 3.01 through 3.06 hereof.

Section 3.10      Application of Trust Money.

                  All money deposited with the Trustee pursuant to Section 12.02
shall be held in trust and applied by it, in accordance with the provisions of
the Notes and this Indenture, to the payment, either directly or through any
Paying Agent (including the Authority acting as its own Paying Agent) as the
Trustee may determine, to the Persons entitled thereto, of the principal (and
premium) and interest for whose payment such money has been deposited with the
Trustee; but such money need not be segregated from other funds except to the
extent required by law.

                                       42
<PAGE>

                                  ARTICLE FOUR
                                    COVENANTS

Section 4.01      Payment of Notes.

                  The Authority shall pay or cause to be paid the principal of,
premium, if any, and interest on the Notes on the dates and in the manner
provided in the Notes. Principal, premium, if any, and interest shall be
considered paid on the date due if the Paying Agent, if other than the
Authority, holds as of 10:00 a.m. Eastern Time on the due date money deposited
by the Authority in immediately available funds and designated for and
sufficient to pay all principal, premium, if any, and interest then due.

Section 4.02      Maintenance of Office or Agency.

                  The Authority shall maintain in the Borough of Manhattan, The
City of New York, an office or agency (which may be an office of the Trustee or
an agent of the Trustee, Registrar or co-registrar) where Notes may be
surrendered for registration of transfer or for exchange and where notices and
demands to or upon the Authority in respect of the Notes and this Indenture may
be served. The Authority shall give prompt written notice to the Trustee of the
location, and any change in the location, of such office or agency. If at any
time the Authority shall fail to maintain any such required office or agency or
shall fail to furnish the Trustee with the address thereof, such presentations,
surrenders, notices and demands may be made or served at the Corporate Trust
Office of the Trustee.

                  The Authority may also from time to time designate one or more
other offices or agencies where the Notes may be presented or surrendered for
any or all such purposes and may from time to time rescind such designations;
provided, however, that no such designation or rescission shall in any manner
relieve the Authority of its obligation to maintain an office or agency in the
Borough of Manhattan, The City of New York for such purposes. The Authority
shall give prompt written notice to the Trustee of any such designation or
rescission and of any change in the location of any such other office or agency.

                  The Authority hereby designates the Corporate Trust Office of
the Trustee as one such office or agency of the Authority in accordance with
Section 2.04 of this Indenture.

Section 4.03      Reports.

                  (a) Whether or not required by the Commission, so long as any
         Notes are outstanding, the Authority will have its annual financial
         statements audited, and its interim financial statements reviewed, by a
         nationally recognized firm of independent accountants and shall furnish
         to the Holders of Notes, within the time periods specified in the
         Commission's rules and regulations for such filings:

                           (i) all quarterly and annual financial information
                  that would be required to be contained in a filing with the
                  Commission on Forms 10-Q and 10-K if the Authority was
                  required to file those Forms, including a "Management's
                  Discussion and Analysis of Financial Condition and Results of
                  Operations" and, with respect to the annual information only,
                  a report on the annual financial statements by the Authority's
                  certified independent accountants; and

                                       43
<PAGE>

                           (ii) all current reports that would be required to be
                  filed with the Commission on Form 8-K if the Authority was
                  required to file such reports.

                  (b) In addition, following the completion of the Exchange
         Offer, whether or not required by the Commission, the Authority shall
         file a copy of all of the information and reports referred to in
         clauses (i) and (ii) above with the Commission for public availability
         within the time periods specified in the Commission's rules and
         regulations (unless the Commission will not accept such filing) and
         make such information available to prospective investors upon request
         if not obtainable from the Commission.

                  (c) For so long as any Notes remain outstanding, the Authority
         shall furnish to the Holders and to prospective investors, upon their
         request, the information required to be delivered pursuant to Rule
         144(d)(4) under the Securities Act if not obtainable from the
         Commission.

                  (d) The Authority shall file with the Trustee and provide to
         Holders of Notes, within 15 days after it files them with the NIGC,
         copies of all reports which the Authority is required to file with the
         NIGC pursuant to 25 C.F.R. Part 514 and with any Gaming Authority
         pursuant to the Compact.

Section 4.04      Compliance Certificate.

                  (a) The Authority shall deliver to the Trustee, within 90 days
         after the end of each fiscal year, an Officers' Certificate stating
         that a review of the activities of the Authority during the preceding
         fiscal year has been made under the supervision of the signing Officers
         with a view to determining whether the Authority has kept, observed,
         performed and fulfilled its obligations under this Indenture, and
         further stating, as to each such Officer signing such certificate, that
         to the best of his or her knowledge, the Authority has kept, observed,
         performed and fulfilled each and every covenant contained in this
         Indenture and is not in default in the performance or observance of any
         of the terms, provisions and conditions of this Indenture (or, if a
         Default or Event of Default shall have occurred, describing all such
         Defaults or Events of Default of which he or she may have knowledge and
         what action the Authority is taking or proposes to take with respect
         thereto) and that to the best of his or her knowledge no event has
         occurred and remains in existence by reason of which payments on
         account of the principal of or interest, if any, on the Notes is
         prohibited or if such event has occurred, a description of the event
         and what action the applicable entity is taking or proposes to take
         with respect thereto.

                  (b) So long as not contrary to the then current
         recommendations of the American Institute of Certified Public
         Accountants, the year-end financial statements delivered pursuant to
         Section 4.03(a) above shall be accompanied by a written statement of
         the Authority's independent public accountants (which shall be a firm
         of established national reputation) that in making the examination
         necessary for certification of such financial statements, nothing has
         come to their attention that would lead them to believe that the
         Authority has violated any provisions of Article Four or Article Five
         hereof or, if any such violation has occurred, specifying the nature
         and period of existence thereof, it being understood that such
         accountants shall not be liable directly or indirectly to any Person
         for any failure to obtain knowledge of any such violation.

                  (c) The Authority shall, so long as any of the Notes are
         outstanding, deliver to the Trustee, forthwith upon any Officer
         becoming aware of any Default or Event of Default, an Officers'
         Certificate specifying such Default or Event of Default and what action
         the Authority is taking or proposes to take with respect thereto.

                                       44
<PAGE>

Section 4.05      Taxes.

                  The Authority shall pay, prior to delinquency, any material
taxes, assessments, and governmental levies except such as are contested in good
faith and by appropriate proceedings or where the failure to effect such payment
is not adverse in any material respect to the Holders of the Notes.

Section 4.06      Stay, Extension and Usury Laws.

                  The Authority covenants (to the extent that it may lawfully do
so) that it shall not at any time insist upon, plead, or in any manner
whatsoever claim or take the benefit or advantage of, any stay, extension or
usury law wherever enacted, now or at any time hereafter in force, that may
affect the covenants or the performance of this Indenture; and the Authority (to
the extent that it may lawfully do so) hereby expressly waives all benefit or
advantage of any such law, and covenants that it shall not, by resort to any
such law, hinder, delay or impede the execution of any power herein granted to
the Trustee, but shall suffer and permit the execution of every such power as
though no such law has been enacted.

Section 4.07      Restricted Payments.

                  The Authority shall not directly or indirectly:

                  (1) declare or pay any dividend or make any other payment or
         distribution on account of the Authority's Equity Interests or to the
         direct or indirect Holders of the Authority's Equity Interests in their
         capacity as such (other than dividends or distributions payable in
         Equity Interests (other than Disqualified Stock) of the Authority;

                  (2) purchase, redeem or otherwise acquire or retire for value
         any Equity Interests of the Authority held by the Tribe or any
         Affiliate of the Tribe;

                  (3) make any payment on or with respect to, or purchase,
         redeem, defease or otherwise acquire or retire for value, any
         Indebtedness that is subordinated to the Notes, except a payment of
         interest or principal at or within 12 months immediately preceding the
         Stated Maturity thereof;

                  (4) make any payment or distribution to or on behalf of the
         Tribe (or any agency, instrumentality or political subdivision thereof)
         or make any distribution to or on behalf of the members of the Tribe,
         other than (i) Permitted Payments, and (ii) Service Payments, but in
         the case of Service Payments only if, at the time of making any such
         Service Payment, no Default in the payment when due of any principal,
         interest or premium on the Notes, if any, has occurred and is
         continuing and no Event of Default has occurred and is continuing, and
         the Expansion Project has been open and fully operational for 90
         consecutive days as more fully described in the Offering Memorandum,
         and the Authority delivers (a) an Officers' Certificate to the Trustee
         to such effect in the form attached hereto as Exhibit E and (b) a
         Certificate of the Independent Construction Consultant to such effect
         as relates to the Expansion Project only; provided, however, that this
         clause (4) shall not prohibit the distribution in any calendar month of
         that portion of the Service Payment that such foregoing proviso would
         have permitted to be distributed in any prior calendar month but that
         was not so distributed; or

                  (5) make any Restricted Investment;

(all payments and other actions set forth in clauses (1) through (5) being
collectively referred to as "Restricted Payments") unless, at the time of and
after giving effect to the Restricted Payment:

                                       45
<PAGE>

                  (a) no Default or Event of Default has occurred and is
         continuing or would occur as a result thereof;

                  (b) the Authority would, at the time of the Restricted Payment
         and after giving pro forma effect thereto as if the Restricted Payment
         had been made at the beginning of the applicable four-quarter period,
         have been permitted to incur at least $1.00 of additional Indebtedness
         pursuant to the Fixed Charge Coverage Ratio test set forth in the first
         paragraph of Section 4.08 hereof; and

                  (c) the Restricted Payment, together with the aggregate amount
         of all other Restricted Payments made by the Authority after the date
         hereof (excluding Restricted Payments permitted by clauses (1), (2),
         and (3) of the next succeeding paragraph), is less than the sum,
         without duplication, of:

                           (i) 50% of the Net Income of the Authority for the
                  period (taken as one accounting period) from October 1, 2003
                  to the end of its most recently ended fiscal quarter for which
                  internal financial statements are available at the time of the
                  Restricted Payment (or, if such Net Income for this period is
                  a deficit, less 100% of this deficit); plus

                           (ii) 100% of the aggregate net cash received by the
                  Authority since the date hereof as a contribution to the
                  Authority's common equity capital or from the issue or sale of
                  Equity Interests of the Authority (other than Disqualified
                  Stock) or from the issue or sale of convertible or
                  exchangeable debt securities of the Authority that have been
                  converted into or exchanged for Equity Interests of the
                  Authority; plus

                           (iii) to the extent that any Restricted Investment
                  that was made after the date hereof is sold, liquidated or
                  repaid for cash, the lesser of (A) the cash return of capital
                  with respect to that Restricted Investment (less the cost of
                  disposition, if any) and (B) the initial amount of that
                  Restricted Investment.

                  So long as no Default or Event of Default has occurred and is
continuing or would be caused thereby, the preceding provisions shall not
prohibit:

                  (1) the redemption, repurchase, retirement, defeasance or
         other acquisition of Subordinated Indebtedness of the Authority or of
         any Equity Interests of the Authority in exchange for, or out of the
         net cash proceeds of, a substantially concurrent capital contribution
         or sale of, other Equity Interests of the Authority (other than
         Disqualified Stock); provided that the amount of the net cash proceeds
         that are utilized for any redemption, repurchase, retirement,
         defeasance or other acquisition shall be excluded from clause (c)
         above;

                  (2) the defeasance, redemption, repurchase or other
         acquisition of Subordinated Indebtedness of the Authority with the net
         cash proceeds from an incurrence of Permitted Refinancing Indebtedness;
         and

                  (3) the redemption or repurchase of any debt or equity
         securities of the Authority required by, and in accordance with any
         order of any Gaming Authority; provided, however, that the Authority
         has used its reasonable best efforts to effect a disposition of such
         securities to a third-party and has been unable to do so.

                                       46
<PAGE>

                  The amount of all Restricted Payments, other than cash, shall
be the fair market value on the date of the Restricted Payment of the asset(s)
or securities proposed to be transferred or issued to or by the Authority
pursuant to the Restricted Payment. The fair market value of any assets or
securities that are required to be valued pursuant to this Section 4.07 shall be
determined by a majority of the Authority's Board of Directors whose resolution
with respect thereto shall be delivered to the Trustee. The Authority's Board of
Directors' determination must be based upon an opinion or appraisal issued by an
accounting, appraisal or investment banking firm of national standing if the
fair market value exceeds $2.0 million. Not later than the date of making any
Restricted Payment, the Authority shall deliver to the Trustee an Officers'
Certificate stating that the Restricted Payment is permitted and setting forth
the basis upon which the calculations required by this Section 4.07 were
computed, together with a copy of any fairness opinion or appraisal required by
this Indenture.

                  Notwithstanding any of the foregoing, at any time after the
Expansion Project has been open and fully operational for 90 consecutive days,
if:

                  (1) no Default or Event of Default has occurred and is
         continuing,

                  (2) the Authority would, after giving effect to the Restricted
         payment, have at least $15.0 million of cash and Cash Equivalents;

                  (3) the ratio of the Authority's outstanding Indebtedness, net
         of cash and Cash Equivalents, to Cash Flow for the Authority's most
         recently ended four fiscal quarters (taken as one accounting period)
         for which internal financial statements are available would, after
         giving effect to the Restricted Payment, be no greater than 2.0:1; and

                  (4) the ratings of the Notes (and the Exchange Notes) by each
         of Moody's and S&P are equal to or higher than the respective ratings
         of the Notes by each of such rating agencies on the date of the
         Indenture and, if equal, shall not be accompanied by a negative outlook
         from such rating agency,

then the provisions preceding this sentence in this Section 4.07 (the "Suspended
Covenant") shall no longer be applicable to the Notes from and after such time;
provided, however, that if at any time thereafter any of the criteria set forth
in clauses (1) through (3) above in this sentence ceases to be satisfied, the
Suspended Covenant shall be automatically reinstated (the "Reinstated Covenant")
and all transactions by the Authority that occurred during the time that such
covenant was suspended and that would have violated such covenant had such
covenant been in effect at the time shall be deemed not to constitute a Default
or an Event of Default, as the case may be, and shall be deemed to have been in
compliance with such covenant for all purposes; provided, further, that
thereafter all transactions by the Authority occurring on or after the date on
which the Suspended Covenant has been reinstated shall be required to be in
compliance with the Reinstated Covenant and the amount available for Restricted
Payments pursuant to paragraph (c) of the Reinstated Covenant on or after the
date on which the Suspended Covenant has been reinstated shall be equal to the
greater of (x) the amount that would have been available for Restricted Payments
pursuant to such paragraph (c) on such date had the Suspended Covenant never
been suspended and after giving effect to all Restricted Payments made through
such date or (y) zero. Any reinstatement of the Suspended Covenant as described
in the foregoing sentence shall not preclude the subsequent suspension of the
Reinstated Covenant and reinstatement of the Suspended Covenant in accordance
with the terms of this paragraph.

                                       47
<PAGE>

Section 4.08      Incurrence of Indebtedness and Issuance of Disqualified Stock.

                  The Authority will not, directly or indirectly, create, incur,
issue, assume, guarantee or otherwise become directly or indirectly liable,
contingently or otherwise, with respect to (collectively, "incur") any
Indebtedness (including Acquired Debt), and the Authority will not issue any
Disqualified Stock; provided, however, that if no Default or Event of Default
shall have occurred and be continuing at the time or as a consequence of the
incurrence of this Indebtedness, the Authority may incur Indebtedness (including
Acquired Debt) or issue shares of Disqualified Stock, if the Fixed Charge
Coverage Ratio for the period comprising the Authority's most recently ended
four full fiscal quarters for which internal financial statements are available
immediately preceding the date on which that additional Indebtedness is incurred
(or if such Indebtedness is incurred prior to May 15, 2004, the period
comprising such lesser number of full fiscal quarters subsequent to April 1,
2003 as for which such financial statements are so available), would have been
at least 2.5 to 1 if such Indebtedness is incurred prior to June 30, 2006, and
3.0 to 1 thereafter, in each case determined on a pro-forma basis for such
period (including a pro-forma application of the net proceeds therefrom), as if
the additional Indebtedness had been incurred or the Disqualified Stock had been
issued, as the case may be, at the beginning of such period. Notwithstanding the
foregoing, the Authority will not issue any Disqualified Stock or any type of
Capital Stock that would cause the Authority not to be lawfully conducting
gaming operations in compliance with IGRA.

                  The first paragraph of this covenant will not prohibit the
incurrence of any of the following (collectively, "Permitted Debt"), so long as
at the time of incurrence, no Default or Event of Default has occurred and is
continuing or would be caused thereby:

                  (a) the incurrence by the Authority of unsecured Indebtedness
and FF&E Financing in an aggregate amount not in excess of $20.0 million,
provided, that (1) the principal amount of such FF&E Financing does not exceed
the cost (including installation and delivery charges and other direct costs of,
and other direct expenses paid or charged in connection with, such purchase) of
the FF&E purchased or leased with the proceeds thereof, (2) no Indebtedness
incurred under the Indenture is used for the purchase or lease of such FF&E and
(c) the aggregate principal amount of such FF&E Financing, including all
Permitted Refinancing Indebtedness incurred to refund, refinance or replace any
FF&E Financing incurred pursuant to this clause, does not exceed $12.5 million
outstanding at any time;

                  (b) the incurrence by the Authority of Indebtedness
represented by the Notes to be issued on the date of the Indenture and the
Exchange Notes to be issued pursuant to the Registration Rights Agreement;

                  (c) the incurrence by the Authority of Permitted Refinancing
Indebtedness in exchange for, or the net proceeds of which are used to refund,
refinance or replace, Indebtedness that was permitted by the Indenture to be
incurred under the first paragraph of this covenant or clause (a), (b), (c), or
(g) of this paragraph or otherwise existing as of the date of the Indenture;

                  (d) the incurrence by the Authority of Hedging Obligations
that are incurred for the purpose of fixing or hedging interest rate risk with
respect to any floating rate Indebtedness that is not prohibited by the terms of
the Indenture to be outstanding;

                  (e) the incurrence by the Authority of Indebtedness in
connection with letters of credit (including, without limitation, letters of
credit in respect of workers' compensation claims or self-insurance),
Indebtedness with respect to reimbursement type obligations, regarding workers'
compensation claims, escrow agreements, bankers' acceptances and surety and
performance bonds (in each case to the extent that such incurrence does not
result in the incurrence of any obligation to repay any obligation relating to
borrowed money), all in the ordinary course of business;

                                       48
<PAGE>

                  (f) Indebtedness arising from agreements of the Authority
providing for indemnification, adjustment of purchase price or similar
obligations, in each case, incurred or assumed in connection with the
acquisition or disposition of any business or assets, other than guarantees of
Indebtedness incurred by any Person acquiring all or any portion of such
business or assets for the purpose of financing such acquisition; provided,
however, that such Indebtedness is not reflected on the balance sheet of the
Authority (contingent obligations referred to in a footnote to the financial
statements and not otherwise reflected on the balance sheet will not be deemed
to be reflected on such balance sheet for purposes of this clause);

                  (g) Indebtedness of the Authority, to the extent the net
proceeds thereof are promptly deposited to defease the Notes pursuant to the
provisions described below under Article Eight, "Defeasance and Covenant
Defeasance;"

                  (h) the incurrence by the Authority of Indebtedness arising
under the Collateral Documents.

                  The Authority will not incur any Indebtedness (including
Permitted Debt) that is contractually subordinated in right of payment to any
other Indebtedness of the Authority unless such Indebtedness is also
contractually subordinated in right of payment to the Notes on substantially
identical terms; provided, however, that no Indebtedness of the Authority shall
be deemed to be contractually subordinated in right of payment to any other
Indebtedness of the Authority solely by virtue of being unsecured.

                  For purposes of determining compliance with this "Incurrence
of Indebtedness and Issuance of Disqualified Stock" covenant, in the event that
an item of proposed Indebtedness meets the criteria of more than one of the
categories of Permitted Debt described in clauses (a) through (h) above, or is
entitled to be incurred under the first paragraph of this covenant, the
Authority will be permitted to classify the item of Indebtedness on the date of
its incurrence, or later reclassify all or a portion of the item of
Indebtedness, in any manner that complies with this covenant.

Section 4.09      Asset Sales.

                  The Authority shall not consummate an Asset Sale unless:

                  (a) the Authority receives consideration at the time of the
         Asset Sale at least equal to the fair market value of the assets or
         Equity Interests issued, sold or otherwise disposed of;

                  (b) the fair market value is evidenced by a resolution of the
         Authority's Board of Directors set forth in an Officers' Certificate
         delivered to the Trustee; and

                  (c) at least 75% of the consideration therefor received by the
         Authority is in the form of cash or Cash Equivalents; provided that:

                           (i) any liabilities (as shown on the Authority's most
                  recent balance sheet prepared in accordance with GAAP) of the
                  Authority (other than contingent liabilities and liabilities
                  that are by their terms subordinated to the Notes or any
                  Guarantee thereof) that are assumed by the transferee of any
                  of those assets under a customary novation agreement that
                  unconditionally releases the Authority, as the case may be,
                  from further liability shall be deemed to be cash for purposes
                  of this Section 4.09; and

                                       49
<PAGE>

                           (ii) any securities, notes or other obligations
                  received by the Authority from the transferee that are
                  promptly, but in any event within 30 days of receipt,
                  converted by the Authority into cash (to the extent of the
                  cash received in that conversion) shall be deemed to be cash
                  for purposes of this provision;

provided, however, that the Authority will not be permitted to make any sale or
other disposition of Key Project Assets.

                  Within 365 days after the receipt of any Net Proceeds from an
Asset Sale, the Authority may apply such Net Proceeds to:

                           (1) make capital expenditures or acquire other
                  property or long-term assets that are used or useful in the
                  "Gaming Business" or irrevocably agree to use such Net
                  Proceeds for such expenditure or acquisition, provided that
                  such expenditure or acquisition is consummated within 365 days
                  after the date of such irrevocable agreement; or

                           (2) reduce permanently Indebtedness that is not
                  Subordinated Indebtedness;

provided, however, that pending the final application of any such Net Proceeds,
the Authority will temporarily invest such Net Proceeds only in Cash Equivalents
which will be held in an account in which the Trustee shall have a first
priority perfected security interest, subject to any Permitted Liens, for the
benefit of the holders of Notes in accordance with this Indenture and the
Collateral Documents. Pending the final application of any such Net Proceeds,
the Authority will temporarily invest such Net Proceeds in Cash Equivalents
which will be held in an account in which the Trustee shall have a first
priority perfected security interest, subject to Permitted Liens, for the
benefit of the holders of Notes in accordance with the Indenture and the
Collateral Documents. Pending the final applications of any such Net Proceeds,
the Authority may use such Net Proceeds in any manner that is not prohibited by
this Indenture, provided such Net Proceeds must be held in an account pledged to
secure the Notes.

                  Any Net Proceeds from Asset Sales that are not reinvested or
are not permitted to be reinvested as provided in the preceding paragraph of
this covenant will be deemed "Excess Sales Proceeds." Within ten days following
the date that the aggregate amount of Excess Sales Proceeds exceeds $2.5
million, the Authority will, subject to the limitations described in Section
13.01, make an offer (an "Asset Sale Offer") to all holders of Notes, and all
holders of other Indebtedness that is pari passu with the Notes containing
provisions similar to those set forth in the Indenture with respect to offers to
purchase or redeem such other Indebtedness with the proceeds of sales of assets,
to purchase the maximum principal amount of Notes and such other pari passu
Indebtedness that may be purchased out of the Excess Sales Proceeds. The offer
price in any Asset Sale Offer will be equal to 100% of principal amount plus
accrued and unpaid interest to the date of purchase, and will be payable in
cash. If the aggregate principal amount of Notes and other pari passu
Indebtedness tendered into such Asset Sale Offer exceeds the amount of Excess
Sales Proceeds, the Trustee will select the Notes and such other pari passu
Indebtedness to be purchased on a pro rata basis. If any Excess Sales Proceeds
remain after completion of an Asset Sale Offer, the Authority may use such
Excess Sales Proceeds for any purpose not otherwise prohibited by the Indenture
and the Collateral Documents. Upon completion of any such Asset Sale Offer, the
amount of Excess Sales Proceeds shall be reset at zero.

                                       50
<PAGE>

                  Any Asset Sale Offer will be made in compliance with all
applicable laws, rules and regulations, including, if applicable, Regulation 14E
under the Exchange Act and the rules and regulations thereunder and all other
applicable Federal and state securities laws. To the extent that the provisions
of any securities laws or regulations conflict with the provisions of this
covenant, the Authority will comply with such applicable securities laws and
such compliance will not be deemed a breach of any provision of the Indenture.

Section 4.10      Transactions with Affiliates.

                  The Authority shall not make any payment to, or sell, lease,
transfer or otherwise dispose of any of its properties or assets to, or purchase
any property or assets from, or enter into or make or amend any transaction,
contract, agreement, understanding, loan, advance or Guarantee with, or for the
benefit of, any Affiliate (each, an "Affiliate Transaction"), unless:

                  (a) the Affiliate Transaction is on terms that are no less
         favorable to the Authority than those that would have been obtained in
         a comparable transaction by the Authority with an unrelated Person;

                  (b) with respect to any Affiliate Transaction or series of
         related Affiliate Transactions involving aggregate consideration in
         excess of $1.0 million, the Authority delivers to the Trustee a
         resolution of its Board of Directors set forth in an Officers'
         Certificate certifying that the Affiliate Transaction complies with
         this Section 4.10 and that the Affiliate Transaction has been approved
         by a majority of the disinterested members of its Board of Directors,
         provided, that if there are no disinterested members of the Board of
         Directors, such compensation arrangements must be approved unanimously
         by the members of the Board of Directors; and

                  (c) with respect to any Affiliate Transaction or series of
         related Affiliate Transactions involving aggregate consideration of
         $7.5 million or more, the Authority delivers to the Trustee an opinion
         as to the fairness to the Authority of that Affiliate Transaction from
         a financial point of view issued by an accounting, consulting,
         appraisal or investment banking firm of reputable standing.

                  The following items shall not be deemed to be Affiliate
Transactions and shall not be subject to the provisions of the prior paragraph:

                  (1) any employment agreement or arrangement entered into by
         the Authority in the ordinary course of business of the Authority;

                  (2) reasonable compensation paid to, and indemnities provided
         on behalf of, officers, directors or employees of the Authority;

                  (3) transactions with Persons in whom the Authority owns an
         Equity Interest, so long as the remaining equity Holders of such
         Persons are not Affiliates of the Authority ;

                  (4) contractual arrangements existing on the date hereof, any
         arrangements disclosed in the Offering Memorandum and any renewals,
         extensions and modifications thereof that are not materially adverse to
         the Holders of the Notes;

                  (5) Restricted Payments, Permitted Payments, Service Payments,
         Permitted Investments and other payments and distributions to the
         extent permitted by Section 4.07 hereof; and

                  (6) reasonable bid preferences to Tribal members and their
         businesses in accordance with Tribal policy.

                                       51
<PAGE>

Section 4.11      Liens.

                  The Authority shall not directly or indirectly, create, incur,
assume or suffer to exist any Lien of any kind on any Gaming Assets now owned or
hereafter acquired, or any proceeds, income or profits thereon, or assign or
convey any right to receive income therefrom, except Permitted Liens.

Section 4.12      Business Activities.

                  The Authority shall not engage, directly or indirectly, in any
business other than a Gaming Business. The Authority is not permitted hereby to
conduct a Gaming Business in any gaming jurisdiction in which the Authority is
not operating on the date hereof if the Holders of the Notes would be required
to be licensed as a result thereof; provided that the provisions described in
this sentence shall not prohibit the Authority from conducting a Gaming Business
in any jurisdiction that does not require the licensing or qualification of all
of the Holders of the Notes, but reserves the discretionary right to require the
licensing or qualification of any Holder of Notes.

Section 4.13      Existence of the Authority.

                  The Authority shall do or cause to be done all things
necessary to preserve and keep in full force and effect their respective
existence, in accordance with their respective organizational documents and
their respective rights (contractual, charter and statutory), licenses and
franchises; provided, however, that the Authority shall not be required to
preserve, with respect to itself, any license, right or franchise, if its Board
of Directors, or other governing body or officers authorized to make such
determination, as the case may be, shall determine that the preservation thereof
is no longer desirable in the conduct of the business of the Authority, and that
the loss thereof is not adverse in any material respect to the Holders of the
Notes.

Section 4.14      Change of Control.

                  Upon the occurrence of a Change of Control and subject to the
restrictions set forth in Article Thirteen, each Holder of Notes shall have the
right to require the Authority to repurchase all or any part (equal to $1,000 or
an integral multiple thereof) of that Holder's Notes pursuant to an offer
described below (a "Change of Control Offer"). In the Change of Control Offer,
the Authority shall offer to purchase the Notes for a payment in cash equal to
101% of the aggregate principal amount of Notes plus accrued and unpaid interest
thereon, to the date of purchase (the "Change of Control Payment"). Within
twenty (20) days following any Change of Control, the Authority shall mail a
notice to each Holder describing the transaction or transactions that constitute
the Change of Control and stating: (i) that the Change of Control Offer is being
made pursuant to this Section 4.14 and that all Notes tendered shall be accepted
for payment; (ii) the purchase price and the purchase date, which shall be no
earlier than 30 days and no later than 60 days from the date such notice is
mailed (the "Change of Control Payment Date"); (iii) that any Note not tendered
shall continue to accrue interest; (iv) that, unless the Authority defaults in
the payment of the Change of Control Payment, all Notes accepted for payment
pursuant to the Change of Control Offer shall cease to accrue interest after the
Change of Control Payment Date; (v) that Holders electing to have any Notes
purchased pursuant to a Change of Control Offer shall be required to surrender
the Notes, with the form entitled "Option of Holder to Elect Purchase" on the
reverse of the Notes completed, to the Paying Agent at the address specified in
the notice prior to the close of business on the third Business Day preceding
the Change of Control Payment Date; (vi) that any Holder shall be entitled to
withdraw its election if the Paying Agent receives, not later than the close of
business on the second Business Day preceding the Change of Control Payment
Date, a facsimile transmission or letter setting forth the name of the Holder,
the principal amount at maturity of Notes delivered for purchase, and a
statement that such Holder is withdrawing his election to have the Notes
purchased; and (vii) that Holders whose Notes are being purchased only in part
shall be issued new Notes equal in principal amount at maturity to the
unpurchased portion of the Notes surrendered, which unpurchased portion must be
equal to $1,000 in principal amount at maturity or an integral multiple thereof.
The Authority shall comply with the requirements of Rule 14e-1 under the
Exchange Act and any other securities laws and regulations thereunder to the
extent those laws and regulations are applicable in connection with the
repurchase of the Notes as a result of a Change of Control. To the extent that
the provisions of any securities laws or regulations conflict with the Change of
Control provisions of this Indenture, the Authority shall comply with the
applicable securities laws and regulations and shall not be deemed to have
breached its obligations under the Change of Control provisions of this
Indenture by virtue of that conflict.

                                       52
<PAGE>

                  On the Change of Control Payment Date, the Authority shall, to
the extent lawful:

                  (a) accept for payment all Notes or portions thereof properly
         tendered under the Change of Control Offer;

                  (b) deposit with the Paying Agent an amount equal to the
         Change of Control Payment in respect of all Notes or portions of Notes
         so tendered; and

                  (c) deliver or cause to be delivered to the Trustee the Notes
         so accepted together with an Officers' Certificate stating the
         aggregate principal amount of Notes or portions of Notes being
         purchased by the Authority.

                  The Paying Agent shall promptly mail to each Holder of Notes
so tendered the Change of Control Payment for those Notes, and the Trustee shall
promptly authenticate and mail (or cause to be transferred by book entry) to
each Holder a new Note equal in principal amount to any unpurchased portion of
the Notes surrendered, if any; provided that each new Note shall be in a
principal amount of $1,000 or an integral multiple thereof.

                  The Authority shall publicly announce the results of the
Change of Control Offer on or as soon as practicable after the Change of Control
Payment Date.

                  The provisions described above that require the Authority to
make a Change of Control Offer following a Change of Control shall apply
regardless of whether any other provisions of this Indenture are applicable.
Except as described above with respect to a Change of Control, this Indenture
does not contain provisions that permit the Holders of the Notes to require the
Authority to repurchase or redeem the Notes in the event of a takeover,
recapitalization or similar transaction.

                  The Authority shall not be required to make a Change of
Control Offer upon a Change of Control if a third party makes the Change of
Control Offer in the manner, at the times and otherwise in compliance with the
requirements outlined in this Indenture applicable to a Change of Control Offer
made by the Authority and purchases all Notes validly tendered and not withdrawn
under that Change of Control Offer.

Section 4.15      Payments for Consent.

                  The Authority shall not directly or indirectly, pay or cause
to be paid any consideration to or for the benefit of any Holder of Notes for or
as an inducement to any consent, waiver or amendment of any of the terms or
provisions of this Indenture or the Notes unless that consideration is offered
to be paid and is paid to all Holders of the Notes that consent, waive or agree
to amend in the time frame described in the solicitation documents relating to
that consent, waiver or agreement, as applicable.

                                       53
<PAGE>

Section 4.16      Maintenance of Insurance.

                  The Authority shall maintain insurance with responsible
carriers against such risks and in such amounts as is customarily carried by
similar businesses with such deductibles, retentions, self insured amounts and
coinsurance provisions as are customarily carried by similar businesses of
similar size, including, without limitation, property and casualty. Customary
insurance coverage shall be deemed to include, without limitation, the
following:

                  (a) workers' compensation insurance to the extent required to
         comply with all applicable state, territorial or United States laws and
         regulations, or the laws and regulations of any other applicable
         jurisdiction;

                  (b) comprehensive general liability insurance with minimum
         limits of $1.0 million;

                  (c) umbrella or excess liability insurance providing excess
         liability coverages over and above the foregoing underlying insurance
         policies up to a minimum limit of $14.0 million;

                  (d) business interruption insurance; provided that such
         business interruption insurance shall have a minimum limit of at least
         $36.5 million; and

                  (e) property insurance protecting the property against losses
         or damages as is customarily covered by an "all-risk" policy or a
         property policy covering "special" causes of loss for a business of
         similar type and size; provided, however, that such insurance shall
         provide coverage of not less than 100.0% of actual replacement value
         (as determined at each policy renewal based on the F.W. Dodge Building
         Index or some other recognized means) of any improvements customarily
         insured consistent with industry standards and with a deductible no
         greater than 2% of the insured value of the Project or such greater
         amount as is available on commercially reasonable terms (other than
         earthquake or flood insurance, for which the deductible may be up to 5%
         of such replacement value).

                  All such insurance policies shall be issued by carriers having
an A.M. Best & Company, Inc. rating of A or higher and a financial size category
of not less than VII, in each case on the date each such policy is issued to the
Authority, or if such carrier is not rated by A.M. Best & Company, Inc., having
the financial stability and size deemed appropriate by an opinion from a
reputable insurance broker. The Authority shall deliver to the Trustee on the
date hereof and each anniversary thereafter a certificate of an insurance agent
describing the insurance policies obtained by the Authority, together with an
Officers' Certificate stating that such policies comply with this Section 4.16.

Section 4.17      Use of Proceeds; Collateral; Completion of Expansion Project.

                  The Authority shall use the net proceeds from the sale of the
Notes as described in the Offering Memorandum under the caption "Use of
Proceeds." The Authority will, on the date of the Indenture, deposit all of the
net proceeds from the sale of the Notes, after making the debt repayments,
payments of the litigation settlement, the land acquisition and paying the
transaction costs as described in the offering memorandum under the caption "Use
of Proceeds," into Collateral Accounts. The Authority shall use its commercially
reasonable best efforts to cause construction of the Expansion Project to be
prosecuted with diligence and continuity in a good and workmanlike manner
materially in accordance with the plans relating to the Expansion Project as
more fully described in the Offering Memorandum.

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Section 4.18      Gaming Licenses.

                  The Authority shall use its reasonable efforts to obtain and
retain in full force and effect at all times all Gaming Licenses necessary for
the operation of the Project, provided that, if in the course of the exercise of
its governmental or regulatory functions the Tribe is required to suspend or
revoke any consent, permit or license or close or suspend any operation or any
part of the Project as a result of any noncompliance with the law, the Authority
shall use its best efforts to promptly and diligently correct such noncompliance
or replace any personnel causing such noncompliance so that the Project shall be
opened and fully operating.

                  The Authority shall file with the Trustee any Notice of
Violation, Order of Temporary Closure, or Assessment of Civil Fines, from the
NIGC pursuant to 25 C.F.R. Part 573 or 575 or any successor provision, and any
written notice issued by, or cause of action commenced by, the State of
California under Section 9 of the Compact, or any successor provision.

Section 4.19      Events of Loss

                  Within 365 days after an Event of Loss with respect to all or
any portion of the Project with a fair market value (or replacement cost, if
greater) in excess of $1.0 million, the Authority may apply the Net Loss
Proceeds from such Event of Loss to the rebuilding, repair, replacement, or
construction of improvements to the Project, with no concurrent obligation to
make any offer to purchase any of the Notes; provided, that:

                  (a) the Authority delivers to the Trustee within 60 days of
         such Event of Loss a written opinion from a reputable contractor that
         the Project with at least the Minimum Facilities can be rebuilt,
         repaired, replaced or constructed, and in a condition to be Operating,
         within 360 days of the Event of Loss;

                  (b) the Authority delivers to the Trustee an officers'
         certificate certifying that the Authority has available from Net Loss
         Proceeds or other sources sufficient funds to complete the building,
         repair, replacement or construction described in clause (a) above; and

                  (c) the Net Loss Proceeds are less than $40.0 million.

                  Any Net Loss Proceeds that are not reinvested or are not
permitted to be reinvested as provided in the first sentence of this covenant
will be deemed "Excess Loss Proceeds." Within ten days following the date that
the aggregate amount of Excess Loss Proceeds exceeds $2.5 million, the Authority
will, subject to the limitations discussed in Section 13.01, make an offer (an
"Event of Loss Offer") to all holders of Notes, and all holders of other
Indebtedness that is pari passu with the Notes containing provisions similar to
those set forth in the Indenture with respect to offers to purchase or redeem
such other Indebtedness with the proceeds of events of loss, to purchase the
maximum principal amount of the Notes and such other pari passu Indebtedness
that may be purchased out of the Excess Loss Proceeds. The offer price in any
Event of Loss Offer will be equal to 100% of principal amount plus accrued and
unpaid interest to the date of purchase, and will be payable in cash. If the
aggregate principal amount of Notes and other pari passu Indebtedness tendered
into such Excess Loss Offer exceeds the amount of Excess Loss Proceeds, the
Trustee will select the Notes and such other pari passu Indebtedness to be
purchased on a pro rata basis. If any Excess Loss Proceeds remain after
completion of an Event of Loss Offer, the Authority may, subject to applicable
conditions, use such Excess Loss Proceeds for any purpose permitted by the
Indenture and the Collateral Documents. Upon completion of any such Event of
Loss Offer, the amount of Excess Loss Proceeds shall be reset at zero.

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                  Any Event of Loss Offer will be made in compliance with all
applicable laws, rules and regulations, including, if applicable, Regulation 14E
under the Exchange Act and the rules and regulations thereunder and all other
applicable Federal and state securities laws. To the extent that the provisions
of any securities laws or regulations conflict with the provisions of this
covenant, compliance with such laws and regulations shall not in and of itself
cause a breach of the Authority's obligations under this covenant.

                  Pending the final application of any Net Loss Proceeds, the
Authority shall deposit such Net Loss Proceeds into an account in which the
Trustee shall have a perfected security interest, subject to Permitted Liens,
and may invest such Net Loss Proceeds only in Cash Equivalents; provided that
such Cash Equivalents are held in such account. These pledged funds will be
released to the Authority to pay for or reimburse the Authority for the actual
cost of a permitted use of the Net Loss Proceeds as provided above, or the Event
of Loss Offer, in each case pursuant to the terms of the Collateral Documents.

                  In the event of an Event of Loss pursuant to clause (3) of the
definition of "Event of Loss" with respect to any assets that have a fair market
value (or replacement cost, if greater) in excess of $1.0 million, the Authority
will be required to receive consideration (1) at least equal to the fair market
value (evidenced by a resolution of the Authority's Board of Directors set forth
in an officers' certificate delivered to the Trustee) of the property or assets
subject to the Event of Loss and (2) with respect to any "Event of Loss" of any
portion of the Project, at least 75% of which is in the form of Cash
Equivalents.

Section 4.20      Subsidiaries.

                  The Authority shall not form, acquire, or own any Subsidiary.

                                  ARTICLE FIVE
                           LIQUIDATION OR DISSOLUTION

Section 5.01      Liquidation or Dissolution.

                  The Authority shall not sell, assign, transfer, lease, convey
or otherwise dispose of all or substantially all of its properties or assets in
one or more transactions. The Authority shall not consolidate or merge with or
into any other Person.

                                  ARTICLE SIX
                              DEFAULTS AND REMEDIES

Section 6.01      Events of Default.

                  Each of the following shall be an Event of Default:

                  (a) default for 30 days in the payment when due of interest on
         the Notes;

                  (b) default in payment when due of the principal of, or
         premium, if any, on the Notes;

                  (c) failure by the Authority to comply with the provisions
         described under Sections 4.09, 4.14 or Article Five hereof;

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                  (d) failure by the Authority for thirty days after notice by
         the Trustee or the holders of 25% or more in aggregate principal amount
         of the Notes to comply with the provisions of Section 4.07;

                  (e) failure by the Authority for 45 days after notice by the
         Trustee or the Holders of 25% or more in aggregate principal amount of
         the Notes to comply with any of the other agreements in the Indenture
         or the Notes (other than a default set forth in clause (a), (b), (c) or
         (d) above);

                  (f) default under any mortgage, Indenture or instrument under
         which there may be issued or by which there may be secured or evidenced
         any Indebtedness for money borrowed by the Authority (or the payment of
         which is guaranteed by the Authority), whether the Indebtedness or
         Guarantee now exists, or is created after the date of this Indenture,
         if that default:

                           (i) is caused by a failure to pay principal of, or
                  interest or premium, if any, on such Indebtedness prior to the
                  expiration of the grace period provided in such Indebtedness
                  on the date of such default (a "Payment Default"); or

                           (ii) results in the acceleration of that Indebtedness
                  prior to its express maturity,

         and, in each case, the principal amount of that Indebtedness, together
         with the principal amount of any other Indebtedness under which there
         has been a Payment Default or the maturity of which has been so
         accelerated, aggregates $7.5 million or more;

                  (g) failure by the Authority to pay final non-appealable
         judgments to the extent that the amount of such judgments not covered
         by insurance underwritten by third parties or not adequately reserved
         for in accordance with GAAP aggregates in excess of $7.5 million, which
         judgments are not paid, discharged or stayed for a period of 60 days;

                  (h) failure by the Tribe to pay final non-appealable judgments
         to the extent that (i) such judgments provide for, create or allow
         recourse against the assets of the Authority or to any revenues thereof
         and (ii) the amount of such judgments not covered by insurance
         underwritten by third parties or not adequately reserved for in
         accordance with GAAP aggregates in excess of $7.5 million, which
         judgments are not paid, discharged or stayed for a period of 60 days;

                  (i) failure by the Tribal Gaming Commission to at all times
         provide a complete exclusion from the licensing requirements of Section
         6.4.6 of the Compact for (1) all federally-regulated or state-regulated
         banks, savings and loans or other federally- or state-regulated lending
         institutions, (2) any agency or federal, state or local government or
         (3) any investor, who, alone or in connection with another, holds less
         than 10% of any outstanding indebtedness evidenced by bonds issued by
         the Tribe or the Authority for ten days after notice by the Trustee or
         the holders of 25% or more in aggregate principal amount of the Notes
         of failure to so provide;

                  (j) cessation of any material portion of gaming operations for
         a period of more than 90 consecutive days at the Project (other than as
         a result of a casualty loss);

                  (k) failure by the Tribe to comply with Section 10.01 for 45
         days after notice by the Trustee or the Holders of 25% or more in
         aggregate principal amount of the Notes to comply;

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                  (l) the Authority pursuant to or within the meaning of
         Bankruptcy Law:

                           (i) commences a voluntary case;

                           (ii) consents to the entry of an order for relief
                  against it in an involuntary case; or

                           (iii) makes a general assignment for the benefit of
                  its creditors;

                  (m) a court of competent jurisdiction enters an order or
         decree under any Bankruptcy Law that:

                           (i) is for relief against the Authority in an
                  involuntary case; or

                           (ii) orders the liquidation of the Authority;

         and the order or decree remains unstayed and in effect for 60
consecutive days; or

                  (n) failure by the Tribe to be a sovereign Indian tribe
         recognized by the United States of America pursuant to 25 U.S.C. ss.
         476, et seq.

                  (o) any of the Collateral Documents shall cease, for any
         reason (other than pursuant to the terms thereof), to be in full force
         and effect, or the Authority shall so assert, or any security interest
         created, or purported to be created, by any of the Collateral Documents
         shall cease to be enforceable and of the same effect and priority
         purported to be created thereby;

                  (p) any material representation or warranty made by the
         Authority in any Collateral Document or that is contained in any
         certificate, document or financial or other statement furnished by the
         Authority at any time under or in connection with any such Collateral
         Document shall prove to have been inaccurate in any material respect on
         or as of the date made or deemed made.

Section 6.02      Acceleration.

                  If any Event of Default (other than an Event of Default
specified in clauses (k) or (l) of Section 6.01) occurs and is continuing, the
Trustee or the Holders of at least 25% in principal amount of the then
outstanding Notes may declare all principal, premium, if any, and accrued
interest of the Notes to be due and payable immediately, subject to the
restrictions in Article Thirteen hereof. Upon any such declaration, the Notes
shall become due and payable immediately, subject to the restrictions in Article
Thirteen hereof. If any Event of Default specified in clauses (l) or (m) of
Section 6.01 occurs and is continuing, then the principal, premium, if any, and
accrued interest on the Notes shall ipso facto become and be immediately due and
payable without any declaration or other action on the part of the Trustee or
any Holder, subject to the restrictions set forth in Article Thirteen.

                  Following an Event of Default (other than an Event of Default
described in clauses (l) or (m) of Section 6.01), and only until the holders of
at least 25% in principal amount of the then outstanding Notes direct the
Trustee to cease the disbursement of funds in the Revenue Account to pay
Operating Expenses, the Trustee will not prohibit funds in the Revenue Account
to be disbursed to the Authority for the payment of Operating Expenses if the
Authority delivers to the Trustee a certificate executed by at least two
officers of the Authority that states that such funds will be used to pay
Operating Expenses and identifies the payees of such funds and the basis for
such payments.

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                  If any Event of Default occurs by reason of any willful action
(or inaction) taken (or not taken) by the Authority or on its behalf with the
intention of avoiding payment of the premium that the Authority would have had
to pay if it then had elected to redeem the Notes pursuant to Section 3.07
hereof, then, upon acceleration of the Notes, an equivalent premium shall also
become and be immediately due and payable, to the extent permitted by law and
subject to Article Thirteen hereof, anything in this Indenture or in the Notes
to the contrary notwithstanding.

                  As promptly as practicable following any acceleration of the
Notes, the Trustee shall send a written notice to all Holders advising the
Holders of the following:

                  (a) an acceleration of the Note has occurred;

                  (b) under the terms of the Indenture and the Notes, neither
         Trustee nor the Authority may make any payment of principal or interest
         on the Notes (i) as a result of any enforcement action commenced by or
         behalf of the Trustee or any Holder, or (ii) after payment of the Notes
         has been accelerated because of a Default hereunder, except to a Holder
         that is licensed as a Financial Source pursuant to the Compact or
         exempt from such licensing;

                  (c) the following persons are exempted from the licensing
         requirements referred to in subsection (b) of this Section: (i) any
         federally regulated or state-regulated bank, savings and loan, or other
         federally- or state-regulated lending institution, or any agency of the
         federal, state, or local government; and (ii) any investor who, alone
         or in conjunction with others, holds less than 10% of the Notes (and
         the Exchange Notes); and

                  (d) any Holder who is a Qualified Institution is permitted to
         become licensed as a Financial Source by submitting to the Tribal
         Gaming Agency and the California Gambling Control Commission a form of
         license application and a form of registration application
         substantially in the forms of Exhibits F-1 and F-2 hereto, with
         accompanying information establishing that the Holder is a Qualifying
         Institution.

                  The foregoing notice shall be accompanied by copies of the
application forms referred to in subsection (d) above and the definition of who
is a Qualifying Institution.

Section 6.03      Other Remedies.

                  If an Event of Default occurs and is continuing, the Trustee
may pursue any available remedy to collect the payment of principal, premium, if
any, and interest, with respect to, the Notes or to enforce the performance of
any provision of the Notes or this Indenture, subject to the restrictions in
Article Thirteen hereof.

                  The Trustee may maintain a proceeding even if it does not
possess any of the Notes or does not produce any of them in the proceeding. A
delay or omission by the Trustee or any Holder of a Note in exercising any right
or remedy accruing upon an Event of Default shall not impair the right or remedy
or constitute a waiver of or acquiescence in the Event of Default. All remedies
are cumulative to the extent permitted by law.

Section 6.04      Waiver of Past Defaults.

                  Holders of a majority in aggregate principal amount of the
then outstanding Notes by notice to the Trustee, may on behalf of the Holders of
all of the Notes, waive an existing Default or Event of Default and its
consequences hereunder, except a continuing Default or Event of Default in the
payment of interest on, or the principal of, the Notes (including in connection
with an offer to purchase) (provided, however, that the Holders of a majority in
principal amount of the then outstanding Notes may rescind an acceleration and
its consequences, including any related payment default that resulted from such
acceleration). Upon any such waiver, such Default shall cease to exist, and any
Event of Default arising therefrom shall be deemed to have been cured for every
purpose of this Indenture; but no such waiver shall extend to any subsequent or
other Default or impair any right consequent thereon.

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Section 6.05      Control by Majority.

                  Subject to Article XIII, Holders of a majority in principal
amount of the then outstanding Notes may direct the time, method and place of
conducting any proceeding for exercising any remedy available to the Trustee or
exercising any trust or power conferred on it. However, the Trustee may refuse
to follow any direction that conflicts with law or this Indenture that the
Trustee determines may be unduly prejudicial to the rights of other Holders of
Notes or that may involve the Trustee in personal liability. The Trustee may
withhold from Holders of the Notes notice of any continuing Default or Event of
Default (except a Default or Event of Default relating to the payment of
principal or interest) if it determines that withholding notice is in their
interest.

Section 6.06      Limitation on Suits.

                  Subject to Section 6.07 and Article Thirteen hereof, a Holder
may pursue a remedy with respect to this Indenture or the Notes only if:

                  (a) the Holder gives to the Trustee written notice of a
         continuing Event of Default;

                  (b) the Holders of at least 25% in principal amount of the
         then outstanding Notes make a written request to the Trustee to pursue
         the remedy;

                  (c) such Holder of a Note or Holders of Notes offer and, if
         requested, provide to the Trustee security and indemnity satisfactory
         to the Trustee against any loss, liability or expense that might be
         incurred by it in connection with the request or direction;

                  (d) the Trustee does not comply with the request within 60
         days after receipt of the request and the offer and, if requested, the
         provision of indemnity; and

                  (e) during such 60-day period the Holders of a majority in
         principal amount of the then outstanding Notes do not give the Trustee
         a direction inconsistent with the request.

                  A Holder of a Note may not use this Indenture to prejudice the
rights of another Holder of a Note or to obtain a preference or priority over
another Holder of a Note.

Section 6.07      Rights of Holders of Notes to Receive Payment.

                  Notwithstanding any other provision of this Indenture, but
subject to Article Thirteen hereof, the right of any Holder of a Note to receive
payment of principal, premium, if any, and interest on, with respect to, the
Note, on or after the respective due dates expressed in the Note (including in
connection with an offer to purchase), or to bring suit for the enforcement of
any such payment on or after such respective dates, shall not be impaired or
affected without the consent of such Holder.

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Section 6.08      Collection Suit by Trustee.

                  If an Event of Default specified in Section 6.01(a) or (b)
occurs and is continuing, subject to the restrictions in Article Thirteen
hereof, the Trustee is authorized to recover judgment in its own name and as
trustee of an express trust against the Authority for the whole amount of
principal of, premium, if any, and interest remaining unpaid on the Notes and
interest on overdue principal and premium, if any, and, to the extent lawful,
interest and such further amount as shall be sufficient to cover the costs and
expenses of collection, including the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel.

Section 6.09      Trustee May File Proofs of Claim.

                  The Trustee is authorized to file such proofs of claim and
other papers or documents as may be necessary or advisable in order to have the
claims of the Trustee (including any claim for the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel)
and, subject to the restrictions in Article Thirteen hereof, the Holders of the
Notes allowed in any judicial proceedings relative to the Authority or any
Guarantor (or any other obligor upon the Notes), its creditors or its property
and shall be entitled and empowered to collect, receive and distribute any money
or other property payable or deliverable on any such claims and any custodian in
any such judicial proceeding is hereby authorized by each Holder to make such
payments to the Trustee, and in the event that the Trustee shall consent to the
making of such payments directly to the Holders, to pay to the Trustee any
amount due to it for the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel, and any other amounts due the
Trustee under Section 7.07 hereof. To the extent that the payment of any such
compensation, expenses, disbursements and advances of the Trustee, its agents
and counsel, and any other amounts due the Trustee under Section 7.07 hereof out
of the estate in any such proceeding, shall be denied for any reason, payment of
the same shall be secured by a Lien on, and shall be paid out of, any and all
distributions, dividends, money, securities and other properties that the
Holders may be entitled to receive in such proceeding whether in liquidation or
under any plan of reorganization or arrangement or otherwise. Nothing herein
contained shall be deemed to authorize the Trustee to authorize or consent to or
accept or adopt on behalf of any Holder any plan of reorganization, arrangement,
adjustment or composition affecting the Notes or the rights of any Holder, or to
authorize the Trustee to vote in respect of the claim of any Holder in any such
proceeding.

Section 6.10      Priorities.

                  If the Trustee collects any money pursuant to this Article, it
shall pay out the money in the following order:

                  First: to the Trustee, its agents and attorneys for amounts
         due under Section 7.07 hereof, including payment of all compensation,
         expense and liabilities incurred, and all advances made, by the Trustee
         and the costs and expenses of collection;

                  Second: subject to the restrictions in Article Thirteen
         hereof, to Holders of Notes for amounts due and unpaid on the Notes for
         principal, premium, if any, and interest ratably, without preference or
         priority of any kind, according to the amounts due and payable on the
         Notes for principal, premium, if any, and interest; and

                  Third: to the Authority or to such party as a court of
         competent jurisdiction shall direct.

                  The Trustee may fix a record date and payment date for any
payment to Holders of Notes pursuant to this Section 6.10.

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Section 6.11      Undertaking for Costs.

                  In any suit for the enforcement of any right or remedy under
this Indenture or in any suit against the Trustee for any action taken or
omitted by it as a Trustee, a court in its discretion may require the filing by
any party litigant in the suit of an undertaking to pay the costs of the suit,
and the court in its discretion may assess reasonable costs, including
reasonable attorneys' fees, against any party litigant in the suit, having due
regard to the merits and good faith of the claims or defenses made by the party
litigant. This Section does not apply to a suit by the Trustee, a suit by a
Holder of a Note pursuant to Section 6.07 hereof, or a suit by Holders of more
than ten percent in aggregate Accreted Value of the then outstanding Notes.

Section 6.12      Restoration of Rights and Remedies.

                  If the Trustee or any Holder has instituted any proceeding to
enforce any right or remedy under this Indenture and such proceeding has been
discontinued or abandoned for any reason, or has been determined adversely to
the Trustee or to such Holder, then and in every such case the Authority, the
Trustee and the Holders shall, subject to any final determination in such
proceeding and/or defenses and/or counterclaims available to the Authority, be
restored severally and respectively to its former positions hereunder, and
thereafter all rights and remedies of the Trustee and the Holders shall continue
as though no such proceeding has been instituted.

                                 ARTICLE SEVEN
                                     TRUSTEE

Section 7.01      Duties of Trustee.

                  (a) If an Event of Default has occurred and is continuing, the
         Trustee shall exercise such of the rights and powers vested in it by
         this Indenture, and use the same degree of care and skill in its
         exercise, as a prudent person would exercise or use under the
         circumstances in the conduct of such person's own affairs.

                  (b) Except during the continuance of an Event of Default:

                           (i) the duties of the Trustee shall be determined
                  solely by the express provisions of this Indenture and the
                  Trustee need perform only those duties that are specifically
                  set forth in this Indenture and no others, and no implied
                  covenants or obligations shall be read into this Indenture
                  against the Trustee; and

                           (ii) in the absence of bad faith on its part, the
                  Trustee may conclusively rely, as to the truth of the
                  statements and the correctness of the opinions expressed
                  therein, upon certificates or opinions furnished to the
                  Trustee and conforming to the requirements of this Indenture.
                  However, the Trustee shall examine the certificates and
                  opinions to determine whether or not they conform to the
                  requirements of this Indenture.

                  (c) The Trustee may not be relieved from liabilities for its
         own negligent action, its own negligent failure to act, or its own
         willful misconduct, except that:

                           (i) this paragraph does not limit the effect of
                  paragraph (b) of this Section;

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                           (ii) the Trustee shall not be liable for any error of
                  judgment made in good faith by a Responsible Officer, unless
                  it is proved that the Trustee was negligent in ascertaining
                  the pertinent facts; and

                           (iii) the Trustee shall not be liable with respect to
                  any action it takes or omits to take in good faith in
                  accordance with a direction received by it pursuant to Section
                  6.05 hereof.

                  (d) Whether or not therein expressly so provided, every
         provision of this Indenture that in any way relates to the Trustee is
         subject to paragraphs (a), (b) and (c) of this Section 7.01.

                  (e) No provision of this Indenture shall require the Trustee
         to expend or risk its own funds or incur any liability. The Trustee
         shall be under no obligation to exercise any of its rights and powers
         under this Indenture at the request of any Holders, unless such Holder
         shall have offered to the Trustee security and indemnity satisfactory
         to it against any loss, costs, liability or expense that might be
         incurred by it in connection with the request or direction.

                  (f) Money held in trust by the Trustee need not be segregated
         from other funds except to the extent required by law.

                  (g) The Trustee at all times shall remain a federally or state
         regulated bank, savings and loan, or other federally or state regulated
         lending institution.

Section 7.02      Certain Rights of Trustee.

                  (a) The Trustee may conclusively rely upon any document
         believed by it to be genuine and to have been signed or presented by
         the proper Person. The Trustee need not investigate any fact or matter
         stated in the document.

                  (b) Before the Trustee acts or refrains from acting, it may
         require an Officers' Certificate or an Opinion of Counsel or both. The
         Trustee shall not be liable for any action it takes or omits to take in
         good faith in reliance on such Officers' Certificate or Opinion of
         Counsel. The Trustee may consult with counsel and the advice of such
         counsel or any Opinion of Counsel shall be full and complete
         authorization and protection from liability in respect of any action
         taken, suffered or omitted by it hereunder in good faith and in
         reliance thereon.

                  (c) The Trustee may act through its attorneys and agents and
         shall not be responsible for the misconduct or negligence of any agent
         appointed with due care.

                  (d) The Trustee shall not be liable for any action it takes or
         omits to take in good faith that it believes to be authorized or within
         the rights or powers conferred upon it by this Indenture.

                  (e) Unless otherwise specifically provided in this Indenture,
         any demand, request, direction or notice from the Authority shall be
         sufficient if signed by an Officer of the Authority.

                  (f) The Trustee shall be under no obligation to exercise any
         of the rights or powers vested in it by this Indenture at the request
         or direction of any of the Holders unless such Holders shall have
         offered to the Trustee security or indemnity reasonably satisfactory to
         it against the costs, expenses and liabilities that might be incurred
         by it in compliance with such request or direction.

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                  (g) The Trustee shall not be bound to make any investigation
         into the facts or matters stated in any resolution, certificate,
         statement, instrument, opinion, report, notice, request, direction,
         consent, order, bond, debenture, note, other evidence of indebtedness
         or other paper or document, but the Trustee, in its discretion, may
         make such further inquiry or investigation into such facts or matters
         as it may see fit and shall incur no liability or additional liability
         of any kind by reason of such inquiry or investigation.

                  (h) The Trustee shall not be deemed to have notice of any
         Default or Event of Default unless a Responsible Officer of the Trustee
         has actual knowledge thereof or unless written notice of such event is
         sent to the Trustee in accordance with Section 15.02 hereof, and such
         notice references the Notes.

                  (i) The rights, privileges, protections, immunities and
         benefits given to the Trustee, including, without limitation, its right
         to be indemnified, are extended to, and shall be enforceable by, the
         Trustee in each of its capacities hereunder, and to each agent,
         custodian and other Person employed to act hereunder.

Section 7.03      Individual Rights of Trustee.

                  The Trustee in its individual or any other capacity may become
the owner or pledgee of Notes and may become a creditor of, or otherwise deal
with, the Authority or any of its Affiliates with the same rights it would have
if it were not Trustee. However, in the event that the Trustee acquires any
conflicting interest as described in the Trust Indenture Act of 1939, it must
eliminate such conflict within 90 days, apply to the SEC for permission to
continue as trustee or resign. Any Agent may do the same with like rights and
duties. The Trustee is also subject to Sections 7.10 and 7.11 hereof.

Section 7.04      Trustee's Disclaimer.

                  The Trustee shall not be responsible for and makes no
representation as to the validity or adequacy of this Indenture, it shall not be
accountable for the Authority's use of the proceeds from the Notes or any money
paid to the Authority or upon the Authority's direction under any provision of
this Indenture, it shall not be responsible for the use or application of any
money received by any Paying Agent other than the Trustee, and it shall not be
responsible for any statement or recital herein or any statement in the Notes or
any other document in connection with the sale of the Notes or pursuant to this
Indenture other than its certificate of authentication.

Section 7.05      Notice of Defaults.

                  If a Default or Event of Default occurs and is continuing and
if it is known to the Trustee, the Trustee shall mail to Holders of Notes a
notice of the Default or Event of Default within 90 days after it occurs.

Section 7.06      Reports by Trustee to Holders of the Notes.

                  Within 60 days after each May 15 beginning with the May 15
following the date hereof, and for so long as Notes remain outstanding, the
Trustee shall mail to the Holders of the Notes a brief report dated as of such
reporting date that complies with TIA ss. 313(a) (but if no event described in
TIA ss. 313(a) has occurred within the twelve months preceding the reporting
date, no report need be transmitted). The Trustee also shall comply with TIA ss.
313(b)(2). The Trustee shall also transmit by mail all reports as required by
TIA ss. 313(c).

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                  A copy of each report at the time of its mailing to the
Holders of Notes shall be mailed to the Authority and filed with the SEC and
each stock exchange on which the Notes are listed in accordance with TIA ss.
313(d). The Authority shall promptly notify the Trustee when the Notes are
listed on any stock exchange or any delisting thereof.

                  At the expense of the Authority, the Trustee or, if the
Trustee is not the Registrar, the Registrar, shall report the names of record
Holders of the Notes to any Gaming Authority when requested to do so by the
Authority.

                  At the express direction of the Authority and at the
Authority's expense, the Trustee shall provide any Gaming Authority with:

                  (a) copies of all notices, reports and other written
         communications which the Trustee gives to Holders;

                  (b) a list of all of the Holders promptly after the original
         issuance of the Notes and periodically thereafter if the Authority so
         directs;

                  (c) notice of any Default under this Indenture, any
         acceleration of the Indebtedness evidenced hereby, the institution of
         any legal actions or proceedings before any court or governmental
         authority in respect of a Default of Event of Default hereunder;

                  (d) notice of the removal or resignation of the Trustee within
         five Business Days of the effectiveness thereof;

                  (e) notice of any transfer or assignment of rights under this
         Indenture known to the Trustee within five Business Days thereof; and

                  (f) a copy of any amendment to the Notes or this Indenture
         within five Business Days of the effectiveness thereof.

                  To the extent requested by the Authority and at the
Authority's expense, the Trustee shall cooperate with any Gaming Authority in
order to provide such Gaming Authority with the information and documentation
requested and as otherwise required by applicable law.

Section 7.07      Compensation and Indemnity.

                  The Authority shall pay to the Trustee from time to time such
compensation for its acceptance of this Indenture and services hereunder in
accordance with a written schedule provided by the Trustee to the Authority. The
Trustee's compensation shall not be limited by any law on compensation of a
trustee of an express trust. The Authority shall reimburse the Trustee promptly
upon request for all reasonable disbursements, advances and expenses incurred or
made by it in addition to the compensation for its services. Such expenses shall
include the reasonable compensation, disbursements and expenses of the Trustee's
agents and counsel.

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                  The Authority shall indemnify the Trustee against any and all
losses, liabilities or expenses incurred by it arising out of or in connection
with the acceptance or administration of its duties under this Indenture,
including the costs and expenses of enforcing this Indenture against the
Authority (including this Section 7.07) and defending itself against any claim
(whether asserted by either of the Authority or any Holder or any other person)
or liability in connection with the exercise or performance of any of its powers
or duties hereunder, except to the extent any such loss, liability or expense
may be attributable to its negligence or bad faith. The Trustee shall notify the
Authority promptly of any claim for which it may seek indemnity. Failure by the
Trustee to so notify the Authority shall not relieve the Authority of its
obligations hereunder. The Authority shall defend the claim and the Trustee
shall cooperate in the defense. The Trustee may have separate counsel and the
Authority shall pay the reasonable fees and expenses of such counsel. The
Authority need not pay for any settlement made without its consent, which
consent shall not be unreasonably withheld.

                  The obligations of the Authority under this Section 7.07 shall
survive the satisfaction and discharge of this Indenture.

                  To secure the Authority's payment obligations in this Section,
the Trustee shall have a Lien prior to the Notes on all money or property held
or collected by the Trustee, except that held in trust to pay principal and
interest on particular Notes. Such Lien shall survive the satisfaction and
discharge of this Indenture.

                  When the Trustee incurs expenses or renders services after an
Event of Default specified in Section 6.01(k) or (l) hereof occurs, the expenses
and the compensation for the services (including the fees and expenses of its
agents and counsel) are intended to constitute expenses of administration under
any Bankruptcy Law.

                  The Trustee shall comply with the provisions of TIA ss.
313(b)(2) to the extent applicable.

Section 7.08      Replacement of Trustee.

                  A resignation or removal of the Trustee and appointment of a
successor Trustee shall become effective only upon the successor Trustee's
acceptance of appointment as provided in this Section 7.08.

                  The Trustee may resign in writing at any time and be
discharged from the trust hereby created by so notifying the Authority and
applicable Gaming Authorities. The Holders of a majority in principal amount of
the then outstanding Notes may remove the Trustee by so notifying the Trustee
and the Authority in writing. The Authority may remove the Trustee if:

                  (a) the Trustee fails to comply with Section 7.10 hereof;

                  (b) the Trustee is adjudged a bankrupt or an insolvent or an
         order for relief is entered with respect to the Trustee under any
         Bankruptcy Law;

                  (c) a custodian or public officer takes charge of the Trustee
         or its property; or

                  (d) the Trustee becomes incapable of acting.

                  If the Trustee resigns or is removed or if a vacancy exists in
the office of Trustee for any reason, the Authority shall promptly appoint a
successor Trustee. Within one year after the successor Trustee takes office, the
Holders of a majority in principal amount of the then outstanding Notes may
appoint a successor Trustee to replace the successor Trustee appointed by the
Authority.

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                  If a successor Trustee does not take office within 30 days
after the retiring Trustee resigns or is removed, the retiring Trustee, the
Authority, or the Holders of a majority in principal amount of the then
outstanding Notes may petition any court of competent jurisdiction for the
appointment of a successor Trustee.

                  If the Trustee, after written request by any Holder who has
been a Holder for at least six months, fails to comply with Section 7.10, such
Holder may petition any court of competent jurisdiction for the removal of the
Trustee and the appointment of a successor Trustee.

                  A successor Trustee shall take all steps necessary or
advisable to be approved by applicable Gaming Authorities, if required, and
deliver a written acceptance of its appointment to the retiring Trustee and to
the Authority. Thereupon, the resignation or removal of the retiring Trustee
shall become effective, and the successor Trustee shall have all the rights,
powers and duties of the Trustee under this Indenture. The successor Trustee
shall mail a notice of its succession to Holders. The retiring Trustee shall
promptly transfer all property held by it as Trustee to the successor Trustee,
provided all sums owing to the Trustee hereunder have been paid and subject to
the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the
Trustee pursuant to this Section 7.08, the Authority's obligations under Section
7.07 hereof shall continue for the benefit of the retiring Trustee.

Section 7.09      Successor Trustee by Merger, Etc.

                  If the Trustee consolidates, merges or converts into, or
transfers all or substantially all of its corporate trust business to, another
Person, the successor Person without any further act shall be the successor
Trustee; provided, however, such Person shall be otherwise eligible and
qualified under this Article and in accordance with any applicable rules or
regulations of Gaming Authorities.

Section 7.10      Eligibility; Disqualification.

                  There shall at all times be a Trustee hereunder that is a bank
organized and doing business under the laws of the United States of America or
of any state thereof that is authorized under such laws to exercise corporate
trustee power, that is subject to supervision or examination by federal or state
authorities and that has a combined capital and surplus of at least $100.0
million as set forth in its most recent published annual report of condition.

                  This Indenture shall always have a Trustee who satisfies the
requirements of TIA ss. 310(a)(1), (2) and (5). The Trustee is subject to TIA
ss. 310(b).

Section 7.11      Preferential Collection of Claims Against Authority.

                  The Trustee is subject to TIA ss. 311(a), excluding any
creditor relationship listed in TIA ss. 311(b). A Trustee who has resigned or
been removed shall be subject to TIA ss. 311(a) to the extent indicated therein.
The Trustee hereby waives any right to set-off any claim that it may have
against the Authority in any capacity (other than as Trustee and Paying Agent)
against any of the assets of the Authority held by the Trustee; provided,
however, that if the Trustee is or becomes a lender of any other Indebtedness
permitted hereunder to be pari passu with the Notes, then such waiver shall not
apply to the extent of such Indebtedness.

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Section 7.12      Authorization of Trustee to Take Other Actions.

                  The Trustee and its directors, officers, employees and
Affiliates shall cooperate with all Gaming Authorities and provide such
information and documentation as may from time to time be requested thereby.

                                 ARTICLE EIGHT
                       DEFEASANCE AND COVENANT DEFEASANCE

Section 8.01      Option to Effect Legal Defeasance or Covenant Defeasance.

                  The Authority may, at the option of the Board of Directors
evidenced by a resolution set forth in an Officers' Certificate, at any time,
elect to have either Section 8.02 or 8.03 hereof be applied to all outstanding
Notes upon compliance with the conditions set forth below in this Article Eight.

Section 8.02      Legal Defeasance and Discharge.

                  Upon the Authority's exercise under Section 8.01 hereof of the
option applicable to this Section 8.02, the Authority shall, subject to the
satisfaction of the conditions set forth in Section 8.04 hereof, be deemed to
have been discharged from its obligations with respect to all outstanding Notes
on the date the conditions set forth below are satisfied (hereinafter, "Legal
Defeasance"). For this purpose, Legal Defeasance means that the Authority shall
be deemed to have paid and discharged the entire Indebtedness represented by the
outstanding Notes, which shall thereafter be deemed to be "outstanding" only for
the purposes of Section 8.05 hereof and the other Sections of this Indenture
referred to in (a) and (b) below, and to have satisfied all its other
obligations under such Notes and this Indenture (and the Trustee, on demand of
and at the expense of the Authority, shall execute proper instruments
acknowledging the same), except for the following provisions which shall survive
until otherwise terminated or discharged hereunder:

                  (a) the rights of Holders of outstanding Notes to receive
         payments in respect of the principal of, or interest or premium on such
         Notes when such payments are due from the trust referred to below,

                  (b) the Authority's obligations with respect to such Notes
         under Article Two and Section 4.02 hereof and money for security
         payments held in trust,

                  (c) the rights, powers, trusts, duties and immunities of the
         Trustee hereunder and the Authority's obligations in connection
         herewith, and

                  (d) this Article Eight.

                  Subject to compliance with this Article Eight, the Authority
may exercise its option under this Section 8.02 notwithstanding the prior
exercise of its option under Section 8.03 hereof.

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Section 8.03      Covenant Defeasance.

                  Upon the Authority's exercise under Section 8.01 hereof of the
option applicable to this Section 8.03, the Authority shall, subject to the
satisfaction of the conditions set forth in Section 8.04 hereof, be released
from its obligations under the covenants contained in Sections 4.07, 4.08, 4.09,
4.10, 4.11, 4.12, 4.13, 4.14, 4.15, 4.16, 4.17, 4.18, 4.19 and 4.20 hereof with
respect to the outstanding Notes on and after the date the conditions set forth
in Section 8.04 are satisfied (hereinafter, "Covenant Defeasance"), and the
Notes shall thereafter be deemed not "outstanding" for the purposes of any
direction, waiver, consent or declaration or act of Holders (and the
consequences of any thereof) in connection with such covenants, but shall
continue to be deemed "outstanding" for all other purposes hereunder (it being
understood that such Notes shall not be deemed outstanding for accounting
purposes). For this purpose, Covenant Defeasance means that, with respect to the
outstanding Notes, the Authority may omit to comply with and shall have no
liability in respect of any term, condition or limitation set forth in any such
covenant, whether directly or indirectly, by reason of any reference elsewhere
herein to any such covenant or by reason of any reference in any such covenant
to any other provision herein or in any other document and such omission to
comply shall not constitute a Default or an Event of Default under Section 6.01
hereof, but, except as specified above, the remainder of this Indenture and such
Notes shall be unaffected thereby. In addition, upon the Authority's exercise
under Section 8.01 hereof of the option applicable to this Section 8.03, subject
to the satisfaction of the conditions set forth in Section 8.04 hereof, Sections
6.01(c) through (f) shall not constitute Events of Default.

Section 8.04      Conditions to Legal or Covenant Defeasance.

                  The following shall be the conditions to the application of
either Section 8.02 or 8.03 hereof to the outstanding Notes:

                  (a) the Authority must irrevocably deposit with the Trustee,
         in trust for the benefit of the Holders of the Notes, cash in United
         States dollars, non-callable Government Securities, or a combination
         thereof, in such amounts as will be sufficient, in the opinion of a
         nationally recognized firm of independent public accountants, to pay
         the principal of, or interest, and premium on the outstanding Notes on
         the stated maturity or on the applicable redemption date, as the case
         may be, and the Authority must specify whether the Notes are being
         defeased to maturity or to a particular redemption date;

                  (b) in the case of an election under Section 8.02 hereof, the
         Authority shall have delivered to the Trustee an Opinion of Counsel
         reasonably acceptable to the Trustee confirming that (i) the Authority
         has received from, or there has been published by, the Internal Revenue
         Service a ruling or (ii) since the date hereof, there has been a change
         in the applicable federal income tax law, in either case to the effect
         that, and based thereon, such Opinion of Counsel shall confirm that,
         the Holders of the outstanding Notes will not recognize income, gain or
         loss for federal income tax purposes as a result of such Legal
         Defeasance and will be subject to federal income tax on the same
         amounts, in the same manner and at the same times as would have been
         the case if such Covenant Defeasance had not occurred;

                  (c) in the case of an election under Section 8.03 hereof, the
         Authority shall have delivered to the Trustee an Opinion of Counsel
         reasonably acceptable to the Trustee confirming that the Holders of the
         outstanding Notes will not recognize income, gain or loss for federal
         income tax purposes as a result of such Covenant Defeasance and will be
         subject to federal income tax on the same amounts, in the same manner
         and at the same times as would have been the case if such Covenant
         Defeasance had not occurred;

                  (d) no Default or Event of Default shall have occurred and is
         continuing on the date of such deposit (other than a Default or Event
         of Default resulting from the borrowing of funds to be applied to such
         deposit);

                  (e) such Legal Defeasance or Covenant Defeasance shall not
         result in a breach or violation of, or constitute a default under, any
         material agreement or instrument (other than this Indenture) to which
         the Authority is a party or by which the Authority is bound;

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<PAGE>

                  (f) the Authority shall deliver to the Trustee an Officers'
         Certificate stating that the deposit was not made by it with the intent
         of preferring the Holders of Notes over other creditors of the
         Authority or with the intent of defeating, hindering, delaying or
         defrauding creditors of the Authority or others; and

                  (g) the Authority shall deliver to the Trustee an Officers'
         Certificate and an Opinion of Counsel, each stating that all conditions
         precedent relating to the Legal Defeasance or the Covenant Defeasance
         have been complied with.

Section 8.05      Deposited Money and Government Securities to Be Held in Trust;
                  Other Miscellaneous Provisions.

                  Subject to Section 8.06 hereof, all money and non-callable
Government Securities (including the proceeds thereof) deposited with the
Trustee (or other qualifying trustee, collectively for purposes of this Section
8.05, the "Trustee") pursuant to Section 8.04 hereof in respect of the
outstanding Notes shall be held in trust and applied by the Trustee, in
accordance with the provisions of such Notes and this Indenture, to the payment,
either directly or through any Paying Agent (including the Authority acting as
Paying Agent) as the Trustee may determine, to the Holders of such Notes of all
sums due and to become due thereon in respect of principal, premium and
interest, but such money need not be segregated from other funds except to the
extent required by law.

                  The Authority shall pay and indemnify the Trustee against any
tax, fee or other charge imposed on or assessed against the cash or non-callable
Government Securities deposited pursuant to Section 8.04 hereof or the principal
and interest received in respect thereof other than any such tax, fee or other
charge which by law is for the account of the Holders of the outstanding Notes.

                  Anything in this Article Eight to the contrary
notwithstanding, the Trustee shall deliver or pay to the Authority from time to
time upon the request of the Authority any money or non-callable Government
Securities held by it as provided in Section 8.04 hereof which, in the opinion
of a nationally recognized firm of independent public accountants expressed in a
written certification thereof delivered to the Trustee (which may be the opinion
delivered under Section 8.04(a) hereof), are in excess of the amount thereof
that would then be required to be deposited to effect an equivalent Legal
Defeasance or Covenant Defeasance.

Section 8.06      Repayment to the Authority.

                  Any money deposited with the Trustee or any Paying Agent, or
then held by the Authority, in trust for the payment of the principal of,
premium, if any, or interest on any Note and remaining unclaimed for two years
after such principal, and premium, if any, or interest has become due and
payable shall be paid to the Authority on its request or (if then held by the
Authority) shall be discharged from such trust; and the Holder of such Note
shall thereafter look only to the Authority for payment thereof, and all
liability of the Trustee or such Paying Agent with respect to such trust money,
and all liability of the Authority as trustee thereof, shall thereupon cease;
provided, however, that the Trustee or such Paying Agent, before being required
to make any such repayment, may at the expense of the Authority cause to be
published once, in the New York Times and The Wall Street Journal (national
edition), notice that such money remains unclaimed and that, after a date
specified therein, which shall not be less than 30 days from the date of such
notification or publication, any unclaimed balance of such money then remaining
shall be repaid to the Authority.

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Section 8.07      Reinstatement.

                  If the Trustee or Paying Agent is unable to apply any United
States dollars or non-callable Government Securities in accordance with Section
8.02 or 8.03 hereof, as the case may be, by reason of any order or judgment of
any court or governmental authority enjoining, restraining or otherwise
prohibiting such application, then the Authority's obligations under this
Indenture and the Notes shall be revived and reinstated as though no deposit had
occurred pursuant to Section 8.02 or 8.03 hereof until such time as the Trustee
or Paying Agent is permitted to apply all such money in accordance with Section
8.02 or 8.03 hereof, as the case may be; provided, however, that, if the
Authority makes any payment of principal of, premium, if any, or interest on any
Note following the reinstatement of its obligations, the Authority shall be
subrogated to the rights of the Holders of such Notes to receive such payment
from the money held by the Trustee or Paying Agent.

                                  ARTICLE NINE
                        AMENDMENT, SUPPLEMENT AND WAIVER

Section 9.01      Without Consent of Holders of Notes.

                  Notwithstanding Section 9.02 of this Indenture, the Authority
and the Trustee may amend or supplement this Indenture, the Collateral Documents
and the Notes without the consent of any Holder of a Note:

                  (a) to cure any ambiguity, defect or inconsistency;

                  (b) to provide for uncertificated Notes in addition to or in
         place of Definitive Notes;

                  (c) to provide for the assumption of the Authority's
         obligations to the Holders of the Notes in the case of a merger or
         consolidation or sale of all or substantially all of the Authority's
         assets;

                  (d) to make any change that would provide any additional
         rights or benefits to the Holders of the Notes or that does not
         adversely affect the legal rights hereunder of any Holder of a Note;

                  (e) to comply with requirements of the Commission in order to
         effect or maintain the qualification of this Indenture under the TIA;
         or

                  (f) to provide for the issuance of Additional Notes in
         accordance with the limitations set forth in this Indenture as of the
         date hereof.

                  Upon the request of the Authority accompanied by a resolution
of its Board of Directors authorizing the execution of any such amended or
supplemental Indenture, and upon receipt by the Trustee of the documents
described in Section 7.02 hereof, the Trustee shall join with the Authority in
the execution of any amended or supplemental Indenture authorized or permitted
by the terms of this Indenture and to make any further appropriate agreements
and stipulations that may be therein contained, but the Trustee shall not be
obligated to enter into such amended or supplemental Indenture that affects its
own rights, duties or immunities under this Indenture or otherwise.

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Section 9.02      With Consent of Holders of Notes.

                  Except as provided below in this Section 9.02, the Authority
and the Trustee may amend or supplement this Indenture, the Collateral Documents
or the Notes with the consent of the Holders of at least a majority (or, in the
case of the Collateral Documents, 662/3%) in principal amount of the Notes
(including Additional Notes, if any) then outstanding (including, without
limitation, consents obtained in connection with a tender offer or exchange
offer for, or purchase of, the Notes)), and, subject to Sections 6.04 and 6.07
hereof, any existing Default or Event of Default or compliance with any
provision of this Indenture, the Collateral Documents or the Notes may be waived
with the consent of the Holders of a majority (or, in the case of the Collateral
Documents, 662/3%) in principal amount of the then outstanding Notes (including
Additional Notes, if any) then outstanding (including, without limitation,
consents obtained in connection with a tender offer or exchange offer for, or
purchase of, the Notes).

                  The Authority may, but shall not be obligated to, fix a record
date for the purpose of determining the Persons entitled to consent to any
indenture supplemental hereto. If a record date is fixed, the Holders on such
record date, or its duly designated proxies, and only such Persons, shall be
entitled to consent to such supplemental indenture, whether or not such Holders
remain Holders after such record date; provided that unless such consent shall
have become effective by virtue of the requisite percentage having been obtained
prior to the date which is 90 days after such record date, any such consent
previously given shall automatically and without further action by any Holder be
cancelled and of no further effect.

                  Upon the request of the Authority accompanied by a resolution
of its Board of Directors, as applicable, authorizing the execution of any such
amended or supplemental Indenture, and upon the filing with the Trustee of
evidence satisfactory to the Trustee of the consent of the Holders of Notes as
aforesaid, and upon receipt by the Trustee of the documents described in Section
7.02 hereof, the Trustee shall join with the Authority in the execution of such
amended or supplemental Indenture unless such amended or supplemental Indenture
directly affects the Trustee's own rights, duties or immunities under this
Indenture or otherwise, in which case the Trustee may in its discretion, but
shall not be obligated to, enter into such amended or supplemental Indenture.

                  It shall not be necessary for the consent of the Holders of
Notes under this Section 9.02 to approve the particular form of any proposed
amendment or waiver, but it shall be sufficient if such consent approves the
substance thereof.

                  After an amendment, supplement or waiver under this Section
becomes effective, the Authority shall mail to the Holders of Notes affected
thereby a notice briefly describing the amendment, supplement or waiver. Any
failure of the Authority to mail such notice, or any defect therein, shall not,
however, in any way impair or affect the validity of any such amended or
supplemental Indenture or waiver. Subject to Sections 6.04 and 6.07 hereof, the
Holders of a majority in aggregate principal amount of the then outstanding
Notes (including Additional Notes, if any) may waive compliance in a particular
instance by the Authority with any provision of this Indenture, or the Notes.
However, without the consent of each Holder affected, an amendment or waiver
under this Section 9.02 may not (with respect to any Notes held by a
non-consenting Holder):

                  (a) reduce the principal amount of Notes whose Holders must
         consent to an amendment, supplement or waiver;

                  (b) reduce the principal of or change the fixed maturity of
         any Note or alter the provisions with respect to the redemption of the
         Notes (other than provisions relating to Sections 4.09 and 4.14
         hereof);

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<PAGE>

                  (c) reduce the rate of or change the time for payment of
         interest on any Note;

                  (d) waive a Default or Event of Default in the payment of
         principal of, or interest or premium on the Notes (except a rescission
         of acceleration of the Notes (including Additional Notes, if any) by
         the Holders of at least a majority in aggregate principal amount of
         Notes and a waiver of the payment default that resulted from such
         acceleration);

                  (e) make any Note payable in money other than that stated in
         the Notes;

                  (f) make any change in the provisions of the Indenture
         relating to waivers of past Defaults or Events of Default or the rights
         of Holders of Notes to receive payments of principal of, or interest or
         premium, if any, on the Notes;

                  (g) waive a redemption payment with respect to any Note (other
         than relating to Sections 4.09 and 4.14);

                  (h) release all or substantially all of the Collateral from
         the Lien of the Indenture and the Collateral Documents (except in
         accordance with the provisions thereof); or

                  (i) make any change in the preceding amendment and waiver
         provisions.

Section 9.03      Compliance with Trust Indenture Act.

                  Every amendment or supplement to this Indenture or the Notes
shall be set forth in a amended or supplemental Indenture that complies with the
TIA as then in effect.

Section 9.04      Revocation and Effect of Consents.

                  Until an amendment, supplement or waiver becomes effective, a
consent to it by a Holder of a Note is a continuing consent by the Holder of a
Note and every subsequent Holder of a Note or portion of a Note that evidences
the same debt as the consenting Holder's Note, even if notation of the consent
is not made on any Note. However, any such Holder of a Note or subsequent Holder
of a Note may revoke the consent as to its Note if the Trustee receives written
notice of revocation before the date the waiver, supplement or amendment becomes
effective. An amendment, supplement or waiver becomes effective in accordance
with its terms and thereafter binds every Holder.

Section 9.05      Notation on or Exchange of Notes.

                  The Trustee may place an appropriate notation about an
amendment, supplement or waiver on any Note thereafter authenticated. The
Authority in exchange for all Notes may issue and the Trustee shall, upon
receipt of an Authentication Order, authenticate new Notes that reflect the
amendment, supplement or waiver.

                  Failure to make the appropriate notation or issue a new Note
shall not affect the validity and effect of such amendment, supplement or
waiver.

Section 9.06      Trustee to Sign Amendments, Etc.

                  The Trustee shall sign any amended or supplemental indenture
or Note authorized pursuant to this Article Nine if the amendment or supplement
does not adversely affect the rights, duties, liabilities or immunities of the
Trustee. The Authority may not sign an amendment or supplemental Indenture or
Note until its Board of Directors approves it. In executing any amended or
supplemental indenture or Note, the Trustee shall be entitled to receive and
(subject to Section 7.01 hereof) shall be fully protected in relying upon an
Officers' Certificate and an Opinion of Counsel stating that the execution of
such amended or supplemental indenture is authorized or permitted by this
Indenture.

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                                  ARTICLE TEN
                             COVENANTS OF THE TRIBE

Section 10.01     Covenants of the Tribe.

                  (a) The Tribe shall not do, and shall not permit any of its
         representatives, political subunits or councils, agencies,
         instrumentalities or enterprises, directly or indirectly, except as
         required by federal or state law or the Compact to do, any of the
         following:

                           (i) increase or impose any tax or other payment
                  obligation on the Authority or on any patrons of, or any
                  activity at, the Project other than:

                                    (A) payments which are due under any
                           agreement in effect on the date of this Indenture or
                           payments which are not materially adverse to the
                           economic interests of Holders of the Notes;

                                    (B) payments which the Authority has agreed
                           to reimburse each Holder of Notes for the economic
                           effect thereof, if any;

                                    (C) Service Payments, Permitted Payments or
                           payments that correspondingly reduce the Restricted
                           Payments otherwise payable to the Tribe; or

                                    (D) pursuant to the Tribal Tax Code;

                           (ii) amend or repeal the Tribal Gaming Ordinance,
                  Authority Ordinance, UCC Provisions, Arbitration Provisions or
                  the Financial Source Regulation in effect on the date of this
                  Indenture (unless any such amendment is a legitimate effort to
                  ensure that the Authority and the Project conduct gaming
                  operations in a manner that is consistent with applicable
                  laws, rules and regulations or that protects the environment,
                  the public health and safety, or the integrity of the
                  Authority or the Project);

                           (iii) deny access by the Authority or patrons of the
                  Gaming Business to Key Project Assets or otherwise restrict or
                  eliminate the right of the Authority to conduct gaming
                  operations at the Project in a manner that would be materially
                  and adversely affect the Gaming Business;

                           (iv) take any other action, enter into any agreement,
                  amend its constitution or amend or enact any ordinance, law,
                  rule or regulation that would have a material adverse effect
                  on the economic interests of holders of the Notes; including,
                  without limitation, taking any action to engage in the Gaming
                  Business in California other than through the Authority;

                           (v) waive its sovereign immunity in any manner that
                  would create recourse to the assets of the Authority
                  (including any cash thereof), other than with respect to the
                  Construction Contracts except that the Tribe may do so to the
                  extent it is acting for the account and benefit of the
                  Authority and so long as such action of the Tribe would not be
                  prohibited by the Indenture if undertaken directly by the
                  Authority and such action has been approved by the Authority
                  Board;

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                           (vi) enact any statute, law, ordinance or rule that
                  would have a material adverse effect on the rights of the
                  Trustee or the Holders of the Notes under this Indenture or
                  the Notes;

                           (vii) except with the consent of a majority of
                  Holders of the Notes, directly or indirectly impose, tax or
                  otherwise make a charge on the Notes, this Indenture or any
                  payments or deposits to be made hereunder;

                           (viii) permit or incur any consensual liability of
                  the Tribe (or of any other instrumentality, Authority or
                  subunit of the Tribe) that is a legal obligation of the
                  Authority, for which the assets of the Authority may be bound
                  or for which there may be recourse to the assets of the
                  Authority, other than a liability that the Authority is
                  permitted or not prohibited from incurring on their own behalf
                  under this Indenture;

                           (ix) pursuant to or within the meaning of bankruptcy
                  law, appoint or consent to the appointment of a custodian of
                  the Authority for all or substantially all of the assets of
                  the Authority;

                           (x) enact any bankruptcy law or similar law for the
                  relief of debtors that would impair, limit, restrict, delay or
                  otherwise adversely affect any of the rights and remedies of
                  the Trustee or the Holders of the Notes provided for in this
                  Indenture or the Notes;

                           (xi) exercise any power of eminent domain over the
                  assets of the Authority (other than any such exercise that
                  would not materially adversely affect the economic rights and
                  benefits of the Trustee or the Holders of the Notes); or

                           (xii) fail to comply in good faith with the Compact,
                  or fail to comply with IGRA or any other applicable and
                  binding law, regulation, order or decree in a manner that
                  would be reasonably likely to result in a material adverse
                  effect on the ability of the Tribe or the Authority to conduct
                  its Gaming Business or perform its obligations under the
                  Indenture, Notes or Collateral Documents;

provided however, that this covenant shall not preclude the Authority from
taking any action not otherwise prohibited by this Indenture.

                  (b) The Tribe agrees that upon any payment or distribution of
         assets upon any liquidation, dissolution, winding up, reorganization,
         assignment for the benefit of creditors, marshalling of assets or any
         bankruptcy, insolvency or similar proceedings of the Authority, or the
         Project, the Holders of the Notes will be entitled to receive payment
         in full in respect to all principal, premium, interest and other
         amounts owing in respect of the Notes before any payment or any
         distribution to the Tribe.

                  (c) In the event that the Tribe receives any payment from the
         Authority at a time when such payment is prohibited by the terms of
         this Indenture, such payment shall be held by the Tribe in trust for
         the benefit of, and shall be paid forthwith over and delivered, upon
         the written request of the Trustee or the Authority, to the Authority.

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                  (d) The Tribe agrees that the Authority shall have sole and
         exclusive jurisdiction to operate the Project in accordance with the
         Authority Ordinance.

                  (e) The Tribe consents, agrees and acknowledges to the
         creation of the Liens securing the Obligations created under the Notes,
         the indenture or the Collateral Documents.

                  (f) Any action taken by the Tribe to comply with federal or
         state law that would otherwise violate this covenant shall be taken
         only after 30 days prior written notice to the Trustee, to the extent
         such notice is possible under the federal or state law or the Compact,
         accompanied by an Officers' Certificate and opinion of counsel that
         such action is required by federal or state law or the Compact.

                                 ARTICLE ELEVEN
                    IRREVOCABLE WAIVER OF SOVEREIGN IMMUNITY

Section 11.01     Irrevocable Waiver of Sovereign Immunity.

                  Each of the Authority and the Tribe unconditionally and
irrevocably waives its sovereign immunity, and the sovereign immunity of each
subdivision, agency, department, board, committee, commission, instrumentality
or entity wholly-owned or wholly-controlled, directly or indirectly, by the
Tribe from any suit, action, proceeding or legal process of any nature, and any
and all defenses based thereon, with respect to any claim, demand, dispute,
action or cause of action related or incidental to this Indenture, the Notes,
the Registration Rights Agreement or the Collateral Documents, including the
offer or sale of the Notes, whether now existing or hereafter arising and
whether sounding in tort, contract or otherwise (collectively "Permitted
Claims"). Such waiver extends (a) to permit the interpretation, enforcement and
the seeking of legal or equitable relief and remedies (whether through an award
or granting of specific performance, injunction, mandamus, damages or otherwise)
through judicial proceedings and other legal process as hereinafter provided,
and (b) to permit judicial actions in any of the Applicable Courts (as defined
below) to compel, enter judgment upon, enforce, modify or vacate any award or
interim injunctive relief related to such arbitration; provided however, such
waiver shall be subject to the following limitations: (a) No Person may seek
enforcement or recover any damages as a result of such waiver against any
property or rights of the Authority or the Tribe, except as against Gaming
Assets and Gaming Assets distributed to the Tribe in contravention of the
Indenture; (b) No Person will be entitled to enforce such waiver except the
Trustee, Holders, and other Persons who are expressly permitted to benefit from
the Indenture, together with the respective successors and assigns of such
Persons (each, a "Permitted Party"); (c) No Person shall be entitled to assert a
claim because of such waiver except a Permitted Claim; (d) Claims permitted by
such waiver may be brought only in the Applicable Courts or in arbitration
proceedings as described below; and (e) All Permitted Claims shall be
interpreted and subject to the law governing the Indenture and the Notes.

                  Each of the Authority and the Tribe unconditionally and
irrevocably waives the jurisdiction and right of any tribal court or forum, now
or hereafter existing or created, to hear or resolve any Permitted Claim. Each
of the Authority and the Tribe unconditionally and irrevocably waives the
application of any rule or doctrine relating to the exhaustion of tribal
remedies, abstention or comity that might otherwise require or permit a
Permitted Claim to be heard or resolved (either initially or finally) in a
tribal court or other tribal forum.

                  Each of the Authority and Tribe irrevocably consents to
arbitration as described below and for the resolution and enforcement of
Permitted Claims and actions permitted by the waivers described above, to the
following courts (the "Applicable Courts"): (a) the United States District Court
for the Southern District of New York and all courts to which any appeal
therefrom may be available; (b) any court of the State of New York and all
courts to which any appeal therefrom may be available; and (c) any court or
other forum of the Tribe (to the extent that a Permitted Party has commenced or
consented to an action in such court or forum).

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                  At the election of the Trustee, any Permitted Claims must be
resolved by binding arbitration under the commercial arbitration rules of the
American Arbitration Association (the "AAA"), as modified by this Indenture. An
arbitration proceeding may be commenced only by the Trustee, or to the extent
remedies may be enforced directly by a Holder, by the Holder upon the filing
with the AAA of a Statement of Claim (within the meaning of the AAA rules) and
serving a copy thereof on the Authority and the Tribe. A single arbitrator shall
hear the Permitted Claim, and shall be selected in accordance with the rules of
the AAA. No person shall be eligible to serve as an arbitrator if the person is
related to, affiliated with or has represented in a legal capacity any party to
the arbitration proceeding or any party to this Indenture. The arbitrator shall
be an attorney admitted to practice and in good standing before the highest
court of a state, who is experienced in advising clients in connection with
commercial borrowings or the issuance of debt securities. Any party shall be
permitted to engage in any discovery permitted under the rules of the AAA.
However, all discovery shall be completed within 90 days following the initial
filing of the Statement of Claim.

                  The hearing on the arbitration must be held in the City of Los
Angeles, California, and commence and be completed no more than 30 days after
the close of discovery, and the arbitrator shall render an award in writing
within 30 days of the completion of the hearing, which shall contain findings of
facts and conclusions of law. Any arbitrator appointed hereunder may award
interim injunctive relief before the final arbitration award. Any controversy
concerning whether an issue is arbitrable shall be determined by the arbitrator.

                  The Tribe and the Authority shall comply with and observe each
order, award, judgment or decree entered by any such Applicable Court with
respect to any Permitted Claim (collectively, "Orders"). To that end, the Tribe
and any court of the Tribe of competent jurisdiction now or hereafter existing
shall give full faith and credit to all Orders and, to the extent reasonably
necessary, shall issue such additional orders and take such additional actions
and exercise such additional legal powers as may reasonably be necessary to
effectuate the same, whether within or without the Tribe's lands. In addition,
to the extent applicable, any arbitration award arising from arbitration
authorized hereunder shall be effectuated in accordance with the terms granting
such arbitration rights and in accordance with the Tribal Arbitration
Provisions, and shall be deemed to be an Order. The Tribe's police powers shall
be available to secure and support any such enforcement efforts, and all police
or other law enforcement officials of the Tribe shall carry out such Orders. All
enforcement remedies with respect to any Order generally available throughout
the State of California may be applied on the reservation of the Tribe,
including lands owned in fee by or held by or in trust for the Tribe.

                                 ARTICLE TWELVE
                           SATISFACTION AND DISCHARGE

Section 12.01     Satisfaction and Discharge.

                  This Indenture shall be discharged and shall cease to be of
further effect as to all Notes issued hereunder, when:

                  (a) either:

                           (i) all Notes that have been authenticated (except
                  lost, stolen or destroyed Notes that have been replaced or
                  paid and Notes for whose payment money has theretofore been
                  deposited in trust and thereafter repaid to the Authority)
                  have been delivered to the Trustee for cancellation; or

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<PAGE>

                           (ii) all Notes that have not been delivered to the
                  Trustee for cancellation have become due and payable by reason
                  of the making of a notice of redemption or otherwise or will
                  become due and payable within one year and the Authority has
                  irrevocably deposited or caused to be deposited with the
                  Trustee as trust funds in trust solely for the benefit of the
                  Holders, cash in U.S. dollars, non-callable Government
                  Securities, or a combination thereof, in such amounts as will
                  be sufficient without consideration of any reinvestment of
                  interest, to pay and discharge the entire indebtedness on the
                  Notes not delivered to the Trustee for cancellation for
                  principal, premium and accrued interest to the date of
                  maturity or redemption;

                  (b) no Default or Event of Default shall have occurred and is
         continuing on the date of such deposit or shall occur as a result of
         such deposit and such deposit will not result in a breach or violation
         of, or constitute a default under, any other instrument to which the
         Authority is a party or by which it is bound;

                  (c) the Authority has paid or caused to be paid all sums
         payable by it under this Indenture; and

                  (d) the Authority has delivered irrevocable instructions to
         the Trustee under this Indenture to apply the deposited money toward
         the payment of the Notes at maturity or the redemption date, as the
         case may be.

                  The Authority shall deliver an Officers' Certificate and an
Opinion of Counsel to the Trustee stating that all conditions precedent to
satisfaction and discharge have been satisfied.

                  Notwithstanding the above, the Trustee shall pay to the
Authority from time to time upon its request any cash or Government Securities
held by it as provided in this Section which, in the opinion of a nationally
recognized firm of independent public accountants expressed in a written
certification delivered to the Trustee, are in excess of the amount thereof that
would then be required to be deposited to effect a satisfaction and discharge
under this Article Twelve.

Section 12.02     Deposited Money and Government Securities to Be Held in Trust;
                  Other Miscellaneous Provisions.

                  Subject to Section 12.03 hereof, all money and non-callable
Government Securities (including the proceeds thereof) deposited with the
Trustee (or other qualifying trustee, collectively for purposes of this Section
12.02, the "Trustee") pursuant to Section 12.01 hereof in respect of the
outstanding Notes shall be held in trust and applied by the Trustee, in
accordance with the provisions of such Notes and this Indenture, to the payment,
either directly or through any Paying Agent (including the Authority acting as
Paying Agent) as the Trustee may determine, to the Holders of such Notes of all
sums due and to become due thereon in respect of principal, premium and
interest, but such money be segregated from other funds except to the extent
required by law.

Section 12.03     Repayment to the Authority.

                  Any money deposited with the Trustee or any Paying Agent, or
then held by the Authority, in trust for the payment of the principal of,
premium or interest on any Note and remaining unclaimed for two years after such
principal, and premium, if any, or interest has become due and payable shall be
paid to the Authority on its request or (if then held by the Authority) shall be
discharged from such trust; and the Holder of such Note shall thereafter look
only to the Authority for payment thereof, and all liability of the Trustee or
such Paying Agent with respect to such trust money, and all liability of the
Authority as trustee thereof, shall thereupon cease; provided, however, that the
Trustee or such Paying Agent, before being required to make any such repayment,
may at the expense of the Authority cause to be published once, in the New York
Times or The Wall Street Journal (national edition), notice that such money
remains unclaimed and that, after a date specified therein, which shall not be
less than 30 days from the date of such notification or publication, any
unclaimed balance of such money then remaining shall be repaid to the Authority.

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                                ARTICLE THIRTEEN
                          SPECIAL PROVISIONS REGARDING
                        UNLICENSED AND NON-EXEMPT HOLDERS

Section 13.01     Special Provisions Regarding Unlicensed and Non-Exempt
                  Holders.

                  If any Notes are transferred to a Holder (or Beneficial Owner)
that is not licensed or otherwise exempted from licensing by the Tribal Gaming
Commission in accordance with the Compact, then neither the transferee Holder
(or Beneficial Owner) nor any person acting on behalf of that transferee Holder
(or Beneficial Owner), including the Trustee, will have any right to enforce any
payment obligation relating to the Notes against any revenues, property or
rights of the Authority or the Tribe, or any branch, department, agency,
instrumentality, division, subsidiary, enterprise, authority or wholly-owned
corporation or business of the Tribe (whether through the exercise of voting
rights or otherwise), until such time as the transferee holder is licensed or
exempted from licensing by the Tribal Gaming Commission in accordance with the
Compact. Notwithstanding any other provision of this Indenture, the Trustee, the
Authority and the Tribe are prohibited from making any payment on the Notes (1)
as a result of any enforcement action commenced by or on behalf of the Trustee
or any Holder or (2) after payment of the Notes has been accelerated because of
a default under this Indenture, except in each case to a Holder that is licensed
or exempted from licensing by the Tribal Gaming Commission in accordance with
the Compact.

                  The foregoing provisions of this Section 13.01 shall not apply
to any Person who is not licensed as a Financial Source (or exempted from such
requirement) to the extent the Compact or the State Bond Regulation is ever
amended to not require such Person to be licensed as a Financial Source

                                ARTICLE FOURTEEN
                             COLLATERAL AND SECURITY

Section 14.01     Collateral Documents.

                  Subject to the Liens permitted by the Collateral Documents and
the second sentence of Section 13.01 hereof, the due and punctual payment of the
principal of and interest on the Notes when and as the same shall be due and
payable, whether on an interest payment date, at maturity, by acceleration,
repurchase, redemption or otherwise, and interest on the overdue principal of
and interest on the Notes and performance of all other obligations of the
Authority to the Holders of Notes or the Trustee under this Indenture and the
Notes, according to the terms hereunder or thereunder, are secured as provided
in the Collateral Documents which the Authority has entered into simultaneously
with the execution of this Indenture. Each Holder of Notes, by its acceptance
thereof, consents and agrees to the terms of the Collateral Documents
(including, without limitation, the provisions providing for foreclosure and
release of Collateral) as the same may be in effect or may be amended from time
to time in accordance with its terms and authorizes and directs the Trustee to
enter into the Collateral Documents and to perform its obligations and exercise
its rights thereunder in accordance therewith. The Authority will deliver to the
Trustee copies of all documents required to be delivered to the Trustee pursuant
to the Collateral Documents, and will do or cause to be done all such acts and
things as may be necessary or proper, or as may be required by the provisions of
the Collateral Documents, to assure and confirm to the Trustee the security
interest in the Collateral contemplated hereby, by the Collateral Documents or
any part thereof, as from time to time constituted, so as to render the same
available for the security and benefit of this Indenture and of the Notes
secured hereby, according to the intent and purposes herein expressed. The
Authority will take, upon request of the Trustee, any and all actions reasonably
required to cause the Collateral Documents to create and maintain, as security
for the Obligations of the Authority hereunder, a valid and enforceable
perfected first priority Lien in and on all the Collateral, in favor of the
Trustee for the benefit of the Holders of Notes, superior to and prior to the
rights of all third Persons and subject to no other Liens than Permitted Liens.

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Section 14.02     Security Interest During an Event of Default.

                  If an Event of Default occurs and is continuing, the Trustee
may, in addition to any rights and remedies available to it under this Indenture
and the Collateral Documents, take such action as it deems advisable to protect
and enforce its rights in the Collateral, including the institution of sale or
foreclosure proceedings.

                  So long as no Event of Default shall have occurred and be
continuing, and subject to certain terms and conditions set forth in this
Indenture and the Collateral Documents, the Authority will be entitled to
receive the benefit of all cash dividends, interest and other payments made upon
or with respect to the Collateral pledged by it and to exercise any voting and
other consensual rights pertaining to the Collateral pledged by it. Upon the
occurrence and continuation of an Event of Default:

                  (1) all rights of the Authority to exercise such voting or
         other consensual rights will cease, and all such rights shall become
         vested in the Trustee, which, to the extent permitted by law, will have
         the sole right to exercise such rights;

                  (2) all rights of the Authority to receive all cash dividends,
         interest and other payments made upon or with respect to the Collateral
         will cease and such cash dividends, interest and other payments will be
         paid to the Trustee; and

                  (3) the trustee may sell the Collateral or any part of the
         Collateral in accordance with the terms of the Collateral Documents.

                  Under the terms of this Indenture and the Collateral
Documents, so long as an Event of Default is continuing, the Trustee will
determine the circumstances and manner in which the Collateral will be disposed
of, including, but not limited to, the determination of whether to release all
or any portion of the Collateral from the Liens created by the Collateral
Documents and whether to foreclose on the Collateral following an Event of
Default.

Section 14.03     Recording and Opinions.

                  (a) The Authority will furnish to the Trustee simultaneously
         with the execution and delivery of this Indenture an Opinion of Counsel
         either:

                           (i) stating that, in the opinion of such counsel, all
                  action has been taken with respect to the recording,
                  registering and filing of this Indenture, financing statements
                  or other instruments necessary to make effective the Lien
                  intended to be created by the Collateral Documents, and
                  reciting with respect to the security interests in the
                  Collateral, the details of such action; or

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                           (ii) stating that, in the opinion of such counsel, no
                  such action is necessary to make such Lien effective.

                  (b) The Authority will furnish to the Trustee on January 1 in
         each year beginning with January 1, 2004, an Opinion of Counsel, dated
         as of such date, either:

                           (i) (A) stating that, in the opinion of such counsel,
                  action has been taken with respect to the recording,
                  registering, filing, re-recording, re-registering and
                  re-filing of all supplemental indentures, financing
                  statements, continuation statements or other instruments of
                  further assurance as is necessary to maintain the Lien of the
                  Collateral Documents and reciting with respect to the security
                  interests in the Collateral the details of such action or
                  referring to prior Opinions of Counsel in which such details
                  are given, and (B) stating that, in the opinion of such
                  counsel, based on relevant laws as in effect on the date of
                  such Opinion of Counsel, all financing statements and
                  continuation statements have been executed and filed that are
                  necessary as of such date and during the succeeding 12 months
                  fully to preserve and protect, to the extent such protection
                  and preservation are possible by filing, the rights of the
                  Holders of Notes and the Trustee hereunder and under the
                  Collateral Documents with respect to the security interests in
                  the Collateral;

                           (ii) stating that, in the opinion of such counsel, no
                  such action is necessary to maintain such Lien and assignment.

                  (c) The Authority will otherwise comply with the provisions of
         TIA ss.314(b).

Section 14.04     Release of Collateral.

                  (a) Subject to subsections (b), (c) and (d) of this Section
         14.04, Collateral may be released from the Lien and security interest
         created by the Collateral Documents at any time or from time to time in
         accordance with the provisions of the Collateral Documents or as
         provided hereby. In addition, upon the request of the Authority
         pursuant to an Officers' Certificate certifying that all conditions
         precedent hereunder have been met and stating whether or not such
         release is in connection with an Asset Sale and (at the sole cost and
         expense of the Authority) the Trustee will release Collateral that is
         sold, conveyed or disposed of in compliance with the provisions of this
         Indenture and the Collateral Documents; provided, that if such sale,
         conveyance or disposition constitutes an Asset Sale, the Authority will
         apply the Net Proceeds in accordance with Section 4.09 hereof. Upon
         receipt of such Officers' Certificate the Trustee shall execute,
         deliver or acknowledge any necessary or proper instruments of
         termination, satisfaction or release to evidence the release of any
         Collateral permitted to be released pursuant to this Indenture or the
         Collateral Documents.

                  (b) No Collateral may be released from the Lien and security
         interest created by the Collateral Documents pursuant to the provisions
         of the Collateral Documents unless the certificate required by this
         Section 14.04 has been delivered to the Trustee.

                  (c) At any time when a Default or Event of Default has
         occurred and is continuing and the maturity of the Notes has been
         accelerated (whether by declaration or otherwise), no release of
         Collateral pursuant to the provisions of the Collateral Documents will
         be effective as against the Holders of Notes.

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                  (d) The release of any Collateral from the terms of this
         Indenture and the Collateral Documents will not be deemed to impair the
         security under this Indenture in contravention of the provisions hereof
         if and to the extent the Collateral is released pursuant to the terms
         of this Indenture or the Collateral Documents. To the extent
         applicable, the Authority will cause TIA ss. 313(b), relating to
         reports, and TIA ss. 314(d), relating to the release of property or
         securities from the Lien and security interest of the Collateral
         Documents and relating to the substitution therefore of any property or
         securities to be subjected to the Lien and security interest of the
         Collateral Documents, to be complied with. Any certificate or opinion
         required by TIA ss. 314(d) may be made by an Officer of the Authority
         except in cases where TIA ss. 314(d) requires that such certificate or
         opinion be made by an independent Person, which Person will be an
         independent engineer, appraiser or other expert selected or approved by
         the Trustee in the exercise of reasonable care.

Section 14.05     Certificates of the Authority.

                  The Authority will furnish to the Trustee, prior to each
proposed release of Collateral pursuant to the Collateral Documents:

                  (1) all documents required by TIAss.314(d); and

                  (2) an Opinion of Counsel to the effect that such accompanying
         documents constitute all documents required by TIA ss.314(d).

                  The Trustee may, to the extent permitted by Sections 7.01 and
7.02 hereof, accept as conclusive evidence of compliance with the foregoing
provisions the appropriate statements contained in such documents and such
Opinion of Counsel.

Section 14.06     Certificates of the Trustee.

                  In the event that the Authority wishes to release Collateral
in accordance with the Collateral Documents and has delivered the certificates
and documents required by the Collateral Documents and Sections 14.04 and 14.05
hereof, the Trustee will determine whether it has received all documentation
required by TIA ss. 314(d) in connection with such release and, based on such
determination and the Opinion of Counsel delivered pursuant to Section 14.05(2),
will deliver a certificate to the Trustee setting forth such determination.

Section 14.07     Authorization of Actions to Be Taken by the Trustee Under the
                  Collateral Documents

                  Subject to the provisions of Section 7.01 and 7.02 hereof, the
Trustee may, in its sole discretion and without the consent of the Holders of
Notes, on behalf of the Holders of Notes, take all actions it deems necessary or
appropriate in order to:

                  (1) enforce any of the terms of the Collateral Documents; and

                  (2) collect and receive any and all amounts payable in respect
         of the Obligations of the Authority hereunder.

                  The Trustee will have power to institute and maintain such
suits and proceedings as it may deem expedient to prevent any impairment of the
Collateral by any acts that may be unlawful or in violation of the Collateral
Documents or this Indenture, and such suits and proceedings as the Trustee may
deem expedient to preserve or protect its interests and the interests of the
Holders of Notes in the Collateral (including power to institute and maintain
suits or proceedings to restrain the enforcement of or compliance with any
legislative or other governmental enactment, rule or order that may be
unconstitutional or otherwise invalid if the enforcement of, or compliance with,
such enactment, rule or order would impair the security interest hereunder or be
prejudicial to the interests of the Holders of Notes or of the Trustee).

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Section 14.08     Authorization of Receipt of Funds by the Trustee Under the
                  Collateral Documents.

                  The Trustee is authorized to receive any funds for the benefit
of the Holders of Notes distributed under the Collateral Documents, and to make
further distributions of such funds to the Holders of Notes according to the
provisions of this Indenture.

Section 14.09     Termination of Security Interest.

                  Upon the payment in full of all Obligations of the Authority
under this Indenture and the Notes, or upon Covenant Defeasance or Legal
Defeasance, the Trustee will, at the request of the Authority, deliver a
certificate to the Trustee stating that such Obligations have been paid in full,
and to release the Liens pursuant to this Indenture and the Collateral
Documents.

                                ARTICLE FIFTEEN
                                  MISCELLANEOUS

Section 15.01     Trust Indenture Act Controls.

                  If any provision of this Indenture limits, qualifies or
conflicts with the duties imposed by TIA ss. 318(c), the imposed duties shall
control.

Section 15.02     Notices.

                  Any notice or communication by the Authority or the Trustee to
the others is duly given if in writing and delivered in Person or mailed by
first class mail (registered or certified, return receipt requested), telecopier
or overnight air courier guaranteeing next day delivery, to the others' address:

                  If to the Authority and the Tribe:

                  River Rock Entertainment Authority
                  3250 Highway 128
                  Geyserville, California  95441
                  Facsimile:  (707) 857-2726
                  Attention:  Chief Financial Officer

                  and

                                       83
<PAGE>

                  Dry Creek Rancheria Band of Pomo Indians
                  3250 Highway 128
                  Geyserville, California  95441
                  Attention:  Chairman

                  with copies to:

                  Holland & Knight LLP
                  633 West Fifth Street, 21st Floor
                  Los Angeles, California 90071
                  Facsimile:  (213) 896-2450
                  Attention:  Jerome Levine

                  If to the Trustee:

                  U.S. Bank National Association
                  60 Livingston Avenue
                  St. Paul, MN 55107-2292
                  Internal mail EP-MN-WS3C
                  Facsimile: (651) 495-8097
                  Attention: Frank Leslie

                  The Authority or the Trustee, by notice to the others may
designate additional or different addresses for subsequent notices or
communications.

                  All notices and communications (other than those sent to
Holders) shall be deemed to have been duly given: at the time delivered by hand,
if personally delivered; five Business Days after being deposited in the mail,
postage prepaid, if mailed; when receipt acknowledged, if telecopied; and the
next Business Day after timely delivery to the courier, if sent by overnight air
courier guaranteeing next day delivery.

                  Any notice or communication to a Holder shall be mailed by
first class mail, certified or registered, return receipt requested, or by
overnight air courier guaranteeing next day delivery to its address shown on the
register kept by the Registrar. Any notice or communication shall also be so
mailed to any Person described in TIA ss. 313(c), to the extent required by the
TIA. Failure to mail a notice or communication to a Holder or any defect in it
shall not affect its sufficiency with respect to other Holders.

                  If a notice or communication is mailed in the manner provided
above within the time prescribed, it is duly given, whether or not the addressee
receives it.

                  If the Authority mails a notice or communication to Holders,
it shall mail a copy to the Trustee and each Agent at the same time.

Section 15.03     Communication by Holders of Notes with Other Holders of Notes.

                  Holders may communicate pursuant to TIA ss. 312(b) with other
Holders with respect to its rights under this Indenture or the Notes. The
Authority, the Trustee, the Registrar and anyone else shall have the protection
of TIA ss. 312(c).

                                       84
<PAGE>

Section 15.04     Certificate and Opinion as to Conditions Precedent.

                  Upon any request or application by the Authority to the
Trustee to take any action under this Indenture, the Authority shall furnish to
the Trustee:

                  (a) an Officers' Certificate in form and substance reasonably
         satisfactory to the Trustee (which shall include the statements set
         forth in Section 15.05 hereof) stating that, in the opinion of the
         signers, all conditions precedent and covenants, if any, provided for
         in this Indenture relating to the proposed action have been satisfied;
         and

                  (b) an Opinion of Counsel in form and substance reasonably
         satisfactory to the Trustee (which shall include the statements set
         forth in Section 15.05 hereof) stating that, in the opinion of such
         counsel, all such conditions precedent and covenants have been
         satisfied.

Section 15.05     Statements Required in Certificate or Opinion.

                  Each certificate or opinion with respect to compliance with a
condition or covenant provided for in this Indenture (other than a certificate
provided pursuant to TIA ss. 314(a)(4)) shall comply with the provisions of TIA
ss. 314(e) and shall include:

                  (a) a statement that the Person making such certificate or
         opinion has read such covenant or condition;

                  (b) a brief statement as to the nature and scope of the
         examination or investigation upon which the statements or opinions
         contained in such certificate or opinion are based;

                  (c) a statement that, in the opinion of such Person, he or she
         has made such examination or investigation as is necessary to enable
         him to express an informed opinion as to whether or not such covenant
         or condition has been satisfied; and

                  (d) a statement as to whether or not, in the opinion of such
         Person, such condition or covenant has been satisfied.

Section 15.06     Rules by Trustee and Agents.

                  The Trustee may make reasonable rules for action by or at a
meeting of Holders. The Registrar or Paying Agent may make reasonable rules and
set reasonable requirements for its functions.

Section 15.07     No Personal Liability of Tribe or Certain Individuals.

                  Neither the Tribe nor any tribal member, council member,
official, agent, director, officer, employee, incorporator or member of the
Authority or the Tribe or holder of an Ownership Interest of the Authority
shall, as such, have any liability for any of the Authority's obligations under
the Notes, this Indenture, or for any claim based on, in respect of, or by
reason of, these obligations or their creation. Each Holder of Notes by
accepting a Note waives and releases these individuals from this liability. The
waiver and release are part of the consideration for issuance of the Notes. The
waiver may not be effective to waive liabilities under the federal securities
laws. Other than as specifically set forth in this Indenture, nothing contained
herein shall constitute a waiver of the sovereign immunity of either the
Authority or the Tribe.

                                       85
<PAGE>

Section 15.08     Governing Law.

                  THIS INDENTURE AND THE NOTES SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK
APPLICABLE TO AGREEMENTS MADE AND PERFORMED IN SUCH STATE BUT WITHOUT GIVING
EFFECT TO APPLICABLE PRINCIPLES OF CONFLICT OF LAW TO THE EXTENT THAT THE
APPLICATION OF THE LAW OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. THE
TRIBE, THE INSTRUMENTALITY AND THE TRUSTEE HEREBY AGREE THAT THE TRANSACTIONS
UNDER THIS INDENTURE, INCLUDING THE EXECUTION OF THIS INDENTURE, THE LENDING OF
MONEY AND THE ISSUANCE OF THE NOTES, OCCURRED OUTSIDE THE TRIBE'S RESERVATION IN
THE STATE OF NEW YORK.

Section 15.09     Consent to Jurisdiction.

                  Any legal suit, action or proceeding arising out of or based
upon this Indenture or the transactions contemplated hereby ("Related
Proceedings") may be instituted in the federal courts of the United States of
America located in the City of New York or the courts of the State of New York
in each case located in the City of New York (collectively, the "Specified
Courts"), and each party irrevocably submits to the exclusive jurisdiction
(except for proceedings instituted in regard to the enforcement of a judgment of
any such court (a "Related Judgment"), as to which such jurisdiction is
non-exclusive) of such courts in any such suit, action or proceeding. Service of
any process, summons, notice or document by mail to such party's address set
forth above shall be effective service of process for any suit, action or other
proceeding brought in any such court. The parties irrevocably and
unconditionally waive any objection to the laying of venue of any suit, action
or other proceeding in the Specified Courts and irrevocably and unconditionally
waive and agree not to plead or claim in any such court has been brought in an
inconvenient forum.

Section 15.10     No Adverse Interpretation of Other Agreements.

                  This Indenture may not be used to interpret any other
indenture, loan or debt agreement of the Authority or of any other Person. Any
such indenture, loan or debt agreement may not be used to interpret this
Indenture.

Section 15.11     Successors.

                  All agreements of the Tribe and the Authority in this
Indenture and the Notes shall bind their successors. All agreements of the
Trustee in this Indenture shall bind its successors.

Section 15.12     Severability.

                  In case any provision in this Indenture or the Notes shall be
invalid, illegal or unenforceable, the validity, legality and enforceability of
the remaining provisions shall not in any way be affected or impaired thereby.

Section 15.13     Counterpart Originals.

                  The parties may sign any number of copies of this Indenture.
Each signed copy shall be an original, but all of them together represent the
same agreement.

                                       86
<PAGE>

Section 15.14     Acts of Holders.

                  (a) Any request, demand, authorization, direction, notice,
         consent, waiver or other action provided by this Indenture to be given
         or taken by the Holders may be embodied in and evidenced by one or more
         instruments of substantially similar tenor signed by such Holders in
         person or by agents duly appointed in writing; and, except as herein
         otherwise expressly provided, such action shall become effective when
         such instrument or instruments are delivered to the Trustee and, where
         it is hereby expressly required, to the Authority. Such instrument or
         instruments (and the action embodied therein and evidenced thereby) are
         herein sometimes referred to as the "Act" of the Holders signing such
         instrument or instruments. Proof of execution of any such instrument or
         of a writing appointing any such agent shall be sufficient for any
         purpose of this Indenture and conclusive in favor of the Trustee and
         the Authority if made in the manner provided in this Section 15.14.

                  (b) The fact and date of the execution by any Person of any
         such instrument or writing may be proved by the affidavit of a witness
         of such execution or by a certificate of a notary public or other
         officer authorized by law to take acknowledgments of deeds, certifying
         that the individual signing such instrument or writing acknowledged to
         such witness, notary or officer the execution thereof. Where such
         execution is by a signer acting in a capacity other than his individual
         capacity, such certificate or affidavit shall also constitute
         sufficient proof of authority. The fact and date of the execution of
         any such instrument or writing, or the authority of the Person
         executing the same, may also be proved in any other manner which the
         Trustee deems sufficient.

                  (c) Notwithstanding anything to the contrary contained in this
         Section 15.14, the principal amount and serial numbers of Notes held by
         any Holder, and the date of holding the same, shall be proved by the
         register of the Notes maintained by the Registrar as provided in
         Section 2.04 hereof.

                  (d) If the Authority shall solicit from the Holders of the
         Notes any request, demand, authorization, direction, notice, consent,
         waiver or other Act, the Authority may, at its option, by or pursuant
         to a resolution of its Board of Directors or otherwise, fix in advance
         a record date for the determination of Holders entitled to give such
         request, demand, authorization, direction, notice, consent, waiver or
         other Act, but the Authority shall have no obligation to do so.
         Notwithstanding TIAss. 316(c), such record date shall be the record
         date specified in or pursuant to such resolution, which shall be a date
         not earlier than the date 30 days prior to the first solicitation of
         Holders generally in connection therewith or the date of the most
         recent list of Holders forwarded to the Trustee prior to such
         solicitation pursuant to Section 2.06 hereof and not later than the
         date such solicitation is completed. If such a record date is fixed,
         such request, demand, authorization, direction, notice, consent, waiver
         or other Act may be given before or after such record date, but only
         the Holders of record at the close of business on such record date
         shall be deemed to be Holders for the purposes of determining whether
         Holders of the requisite proportion of the then outstanding Notes have
         authorized or agreed or consented to such request, demand,
         authorization, direction, notice, consent, waiver or other Act, and for
         that purpose the then outstanding Notes shall be computed as of such
         record date; provided that no such authorization, agreement or consent
         by the Holders on such record date shall be deemed effective unless it
         shall become effective pursuant to the provisions of this Indenture not
         later than eleven months after the record date.

                                       87
<PAGE>

                  (e) Any request, demand, authorization, direction, notice,
         consent, waiver or other Act of the Holder of any Note shall bind every
         future Holder of the same Note and the Holder of every Note issued upon
         the registration or transfer thereof or in exchange therefor or in lieu
         thereof in respect of anything done, omitted or suffered to be done by
         the Trustee or the Authority in reliance thereon, whether or not
         notation of such action is made upon such Note.

                  (f) Without limiting the foregoing, a Holder entitled
         hereunder to take any action hereunder with regard to any particular
         Note may do so itself with regard to all or any part of the principal
         amount of such Note or by one or more duly appointed agents each of
         which may do so pursuant to such appointment with regard to all or any
         part of such principal amount.

Section 15.15     Benefit of Indenture.

                  Nothing, in this Indenture or in the Notes, express or
implied, shall give to any Person, other than the parties hereto, any Paying
Agent, any Registrar and its successors hereunder, and the Holders, any benefit
or any legal or equitable right, remedy or claim under this Indenture.

Section 15.16     Table of Contents, Headings, Etc.

                  The Table of Contents, Cross-Reference Table and Headings of
the Articles and Sections of this Indenture have been inserted for convenience
of reference only, are not to be considered a part of this Indenture and shall
in no way modify or restrict any of the terms or provisions hereof.

Section 15.17     IGRA Savings Provisions.

                  It is not the intent of the parties hereto that this
Indenture, whether considered alone, or together with any other one or more
documents, constitute a management contract within the meaning of IGRA.
Accordingly, to the extent any reasonable basis exists therefore, each and every
provision hereof shall be interpreted in a manner that does not cause this
Indenture to constitute a management contract, whether considered alone, or
together with any other one or more documents. In no event shall any provision
of this Indenture be applied, or deemed in effect or enforceable, to the extent
such provision allows any action or influence by the Trustee or any other person
that constitutes management of gaming in violation of IGRA. Notwithstanding any
other provision herein, if any term or condition herein should cause this
Indenture, alone, or together with any one or more other documents, to
constitute a management contract within the meaning of IGRA, such provision
shall be null and void without any further force and effect, with all other
provisions not similarly null and void remaining in full force and effect. This
Section shall survive as an agreement separate and apart from the remainder of
this Indenture in the event of any determination that any provision of this
Indenture causes the Indenture to constitute a management contract within the
meaning of IGRA.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                       88
<PAGE>

                                   SIGNATURES

                                      RIVER ROCK ENTERTAINMENT
                                      AUTHORITY

                                      By:  /s/ Elizabeth Elgin DeRouen
                                          ----------------------------
                                      Name:  Elizabeth Elgin DeRouen
                                      Title: Chairperson of the Board

                                      By:  /s/ Margie Rojes
                                          ----------------------------
                                      Name:  Margie Rojes
                                      Title: Secretary-Treasurer

                                      THE DRY CREEK RANCHERIA BAND OF
                                      POMO INDIANS (solely with respect to its
                                      obligations under Articles X and XI)

                                      By:  /s/ Elizabeth Elgin DeRouen
                                          ----------------------------
                                      Name:  Elizabeth Elgin DeRouen
                                      Title: Chairperson

                                      By:  /s/ Margie Rojes
                                          ----------------------------
                                      Name:  Margie Rojes
                                      Title: Secretary-Treasurer

                                      U.S. BANK NATIONAL ASSOCIATION

                                      By:  /s/ Frank Leslie
                                          ----------------------------
                                      Name:  Frank Leslie
                                      Title: Vice President

                                       89
<PAGE>

                                                                       EXHIBIT A

                                 [Face of Note]

         THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE
GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL
OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES
EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED
PURSUANT TO SECTION 2.08 OF THE INDENTURE, (II) THIS GLOBAL NOTE MAY BE
EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.07(a) OF THE INDENTURE,
(III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT
TO SECTION 2.12 OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO
A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE INSTRUMENTALITY.
UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE
FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A
NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR
ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A
SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY (55 WATER STREET, NEW YORK, NEW YORK) ("DTC"), TO THE COMPANY OR ITS
AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.1

         THE SECURITY (OR ITS PREDECESSOR) EVIDENCED HEREBY WAS ORIGINALLY
ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER SECTION 5 OF THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), AND THE
SECURITY EVIDENCED HEREBY MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN
THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. EACH
PURCHASER OF THE SECURITY EVIDENCED HEREBY IS HEREBY NOTIFIED THAT THE SELLER
MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE
SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER. THE HOLDER OF THE SECURITY
EVIDENCED HEREBY AGREES FOR THE BENEFIT OF THE RIVER ROCK ENTERTAINMENT
AUTHORITY, AN UNINCORPORATED INSTRUMENTALITY WHOLLY OWNED BY THE DRY CREEK
RANCHERIA BAND OF POMO INDIANS (THE "INSTRUMENTALITY") THAT

                  (A) SUCH SECURITY MAY BE RESOLD, PLEDGED OR OTHERWISE
TRANSFERRED ONLY

                           (i)(a) TO A PERSON WHO THE SELLER REASONABLY BELIEVES
                  IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A
                  UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE
                  REQUIREMENTS OF RULE 144A, (b) IN A TRANSACTION MEETING THE
                  REQUIREMENTS OF RULE 144A UNDER THE SECURITIES ACT, (c) TO AN
                  INSTITUTIONAL "ACCREDITED INVESTOR" (AS DEFINED IN RULE
                  501(a)(1), (2), (3) OR (7) OF THE SECURITIES ACT (AN
                  "INSTITUTIONAL ACCREDITED INVESTOR")) THAT, PRIOR TO SUCH
                  TRANSFER, FURNISHES THE TRUSTEE A SIGNED LETTER CONTAINING
                  CERTAIN REPRESENTATIONS AND AGREEMENTS (THE FORM OF WHICH CAN
                  BE OBTAINED FROM THE TRUSTEE) AND, IF SUCH TRANSFER IS IN
                  RESPECT OF AN AGGREGATE PRINCIPAL AMOUNT OF NOTES LESS THAN
                  $100,000, AN OPINION OF COUNSEL ACCEPTABLE TO THE
                  INSTRUMENTALITY THAT SUCH TRANSFER IS IN COMPLIANCE WITH THE
                  SECURITIES ACT, OR (d) IN ACCORDANCE WITH ANOTHER EXEMPTION
                  FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND
                  BASED UPON AN OPINION OF COUNSEL IF THE INSTRUMENTALITY SO
                  REQUESTS,

---------------
(1)  This paragraph should be included only if the Note is issued in global
     form.

                                      A-1

<PAGE>

                           (ii) TO THE INSTRUMENTALITY, OR

                           (iii) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
                  AND, IN EACH CASE, IN ACCORDANCE WITH ANY APPLICABLE
                  SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER
                  APPLICABLE JURISDICTION; AND

                  (B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED
         TO, NOTIFY ANY PURCHASER FROM IT OF THE SECURITY EVIDENCED HEREBY OF
         THE RESALE RESTRICTIONS SET FORTH IN (A) ABOVE.2

         THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY
SUBSEQUENT PURCHASER FROM IT OF THE SECURITY EVIDENCED HEREBY THAT, UNLESS SUCH
PURCHASER IS LICENSED AS A LENDER PURSUANT TO THE DRY CREEK RANCHERIA BAND OF
POMO INDIANS' TRIBAL-STATE GAMING COMPACT OR IS EXEMPTED FROM SUCH LICENSING
REQUIREMENTS, SUCH PURCHASER WILL NOT BE ABLE TO RECEIVE PAYMENT ON THE NOTES
AFTER AN ACCELERATION AND WILL NOT BE ABLE TO ENFORCE THE NOTES OR THE INDENTURE
AGAINST THE INSTRUMENTALITY.

----------------
(2)  This paragraph should not be included if the Note is issued as an
     Unrestricted Definitive Note or Unrestricted Global Note.

                                      A-2
<PAGE>

                                                            CUSIP No. 768369 AA8

                                                             **$200,000,000.00**
                                                               ---------------

                       RIVER ROCK ENTERTAINMENT AUTHORITY

                          9 3/4% Senior Notes due 2011

Issue Date:  November 7, 2003

                  The River Rock Entertainment Authority (the "Authority" which
term includes any successor under the Indenture hereinafter referred to), an
unincorporated instrumentality wholly owned by the Dry Creek Rancheria Band of
Pomo Indians, a federally recognized Indian Tribe and sovereign nation (the
"Tribe"), for value received, promises to pay to CIBC World Markets Corp., or
its registered assigns, the principal sum of $200,000,000.00 on November 1,
2011.

Interest Payment Dates:  May 1 and November 1, commencing May 1, 2004.

Record Dates:  April 15 and October 15.

                  Reference is hereby made to the further provisions of this
Note set forth on the reverse hereof, which further provisions shall for all
purposes have the same effect as if set forth at this place.

                                      A-3
<PAGE>

                  IN WITNESS WHEREOF, the Authority has caused this Note to be
signed manually or by facsimile by its duly authorized officers.

                                    RIVER ROCK ENTERTAINMENT AUTHORITY

                                    By:
                                       ----------------------------------------
                                         Name:        Elizabeth DeRouen
                                         Title:       Chairperson of the Board

                                    By:
                                       ----------------------------------------
                                         Name:        Margie Rojes
                                         Title:       Secretary-Treasurer

This is one of the 9 3/4% Senior Notes due 2011 described in the
within-mentioned Indenture.

Dated: November 7, 2003

U.S. BANK NATIONAL ASSOCIATION,

as Trustee

By: __________________________________
           Authorized Signatory

                                      A-4
<PAGE>

                             [Reverse Side of Note]

                       RIVER ROCK ENTERTAINMENT AUTHORITY

                          9 3/4% Senior Notes due 2011

                  Capitalized terms used herein shall have the meanings assigned
to them in the Indenture referred to below unless otherwise indicated.

                  1. Interest. The Authority promises to pay interest on the
principal amount of this Note at 9 3/4% per annum from the date hereof until
maturity and shall pay the Liquidated Damages, if any, payable pursuant to
Section 5 of the Registration Rights Agreement referred to below. The Authority
shall pay interest semi-annually in arrears on May 1 and November 1 of each
year, or if any such day is not a Business Day, on the next succeeding Business
Day (each an "Interest Payment Date"). Interest on the Notes shall accrue from
the most recent date to which interest has been paid or, if no interest has been
paid, from the date of original issuance; provided that if there is no existing
Default in the payment of interest, and if this Note is authenticated between a
record date referred to on the face hereof and the next succeeding Interest
Payment Date, interest shall accrue from such next succeeding Interest Payment
Date; provided further that the first Interest Payment Date shall be May 1,
2004. Interest shall be computed on the basis of a 360-day year of twelve 30-day
months.

                  2. Method of Payment. The Authority shall pay interest on the
Notes (except defaulted interest) to the Persons who are registered Holders of
Notes at the close of business on the January 1 or July 1 next preceding the
Interest Payment Date, even if such Notes are canceled after such record date
and on or before such Interest Payment Date, except as provided in Section 2.13
of the Indenture with respect to defaulted interest. If a Holder of $1.0 million
or more in principal amount of Notes has given wire transfer instructions to the
Authority, the Authority will pay all principal, interest and premium on that
Holder's Notes in accordance with those instructions. All other payments on
Notes will be made at the office or agency of the Paying Agent and Registrar
within the City and State of New York unless the Authority elects to make
interest payments by check mailed to the Holders at their addresses set forth in
the register of Holders. Such payment shall be in such coin or currency of the
United States of America as at the time of payment is legal tender for payment
of public and private debts.

                  3. Paying Agent and Registrar. Initially, U.S. Bank National
Association, the Trustee under the Indenture, shall act as Paying Agent and
Registrar. The Authority may change any Paying Agent or Registrar without notice
to any Holder. The Authority may act in any such capacity.

                  4. Indenture. The Authority issued the Notes under an
Indenture dated as of November 7, 2003 ("Indenture") among the Authority, the
Tribe and the Trustee. The terms of the Notes include those stated in the
Indenture and those made part of the Indenture by reference to the Trust
Indenture Act of 1939, as amended. The Notes are subject to all such terms, and
Holders are referred to the Indenture and such Act for a statement of such
terms. To the extent any provision of this Note conflicts with the express
provisions of the Indenture, the provisions of the Indenture shall govern and be
controlling. The Notes are obligations of the Authority consisting of the
Initial Notes in an aggregate principal amount of $200,000,000 and the aggregate
principal amount of Additional Notes issued in accordance with the Indenture.
The Indenture pursuant to which this Note is issued provides that Additional
Notes may be issued thereunder.

                                      A-5
<PAGE>

                  5. Optional Redemption. Subject to the restrictions in Section
16 hereof:

                           (a) the Authority may, at any time prior to November
1, 2007, redeem all or a part
of the Notes upon not less than 30 or more than 60 days' prior notice, at a
redemption price equal to 100% of the principal amount thereof plus the Make
Whole Premium and accrued but unpaid interest, thereon, to the applicable
redemption date.

                           (b) Except as set forth above in this  paragraph 5
and in paragraphs 6 and 8 below, the Authority shall not have the option to
redeem the Notes prior to November 1, 2007. Thereafter, the Authority may redeem
the Notes in whole or in part, upon not less than 30 nor more than 60 days'
prior notice, at the redemption prices (expressed as percentages of principal
amount) set forth below plus accrued and unpaid interest thereon to the
applicable redemption date, if redeemed during the twelve-month period beginning
on November 1 of the years indicated below (subject to the right of Holders on
the relevant record date to receive interest due on the related Interest Payment
Date):

         Year                                    Percentage
         ----                                    ----------
         2007...............................        104.875%
         2008...............................        102.438%
         2009 and thereafter................        100.000%

                  6.       Gaming Redemption.

                           (a) If a Gaming Authority determines, and a Holder or
Beneficial Owner of the Notes is notified, that such Holder or Beneficial Owner
must obtain a license, qualification or finding of suitability under any
applicable gaming law and the Holder or Beneficial Owner does not apply for that
license, qualification or finding of suitability within 30 days after being
requested to do so by such Gaming Authority (or such lesser period that may be
required by such Gaming Authority), or if such Holder or Beneficial Owner shall
not be licensed, qualified or found suitable under applicable gaming law, or any
license, qualification or finding of suitability is not renewed upon its
expiration or is revoked, or the Holder or Beneficial Owner has been found to be
unsuitable for licensing, then the Authority, at its option but subject to
Section 16 hereof, may (i) require such Holder or Beneficial Owner to dispose of
such Holder or Beneficial Owner's Notes within 30 days, or any earlier date as
may be required by the Gaming Authority, of (A) the termination of the 30-day
period described above for the Holder or Beneficial Owner to apply for a
license, qualification or finding of suitability, or (B) the receipt of the
notice from the Gaming Authority that the Holder or beneficial owner shall not
be licensed, qualified or found suitable or (ii) subject to the limitations
discussed under Section 13.01 redeem the Notes of such Holder or Beneficial
Owner at a price equal to (A) if such determination is made by the Tribal Gaming
Commission or any other Gaming Authority of the Tribe, and not by the CGCC, the
then-applicable redemption price as set forth in Section 3.07 or (B) in all
other cases, the least of (1) 100% of the principal amount thereof or (2) the
price at which such Holder or Beneficial Owner acquired the Notes, and (3) the
fair market value of the Notes, together with, in each case, to the extent
permitted by the Compact, accrued and unpaid interest thereon to the earlier of
the date of redemption or such earlier date as may be required by the Gaming
Authority or the date of the finding of unsuitability by such Gaming Authority,
which may be less than 30 days following the notice of redemption if so ordered
by such Gaming Authority.

                                      A-6
<PAGE>

                           (b) Immediately upon a determination that a Holder or
Beneficial Owner shall not be licensed, qualified or found suitable, or that
such license, qualification or finding of suitability has been revoked or will
not be renewed, the Holder or Beneficial Owner shall have no further rights (1)
to exercise any right conferred by the Notes, directly or indirectly, through
any Trustee, nominee or any other Person or entity, or (2) to receive any
interest or other distribution or payment with respect to the Notes or any
remuneration in any form from the Authority for services rendered or otherwise,
except the redemption price of the Notes.

                           (c) The Holder or Beneficial Owner of Notes applying
for a license, qualification or a finding of suitability may be required to pay
all costs of the licenses or investigation for this qualification or finding of
suitability. The Authority is not required to pay or reimburse any Holder or
Beneficial Owner of Notes who is required to apply for any license,
qualification or finding of suitability.

                  7. Mandatory Redemption. Except as set forth in Paragraph 8
below, the Authority shall not be required to make mandatory redemption payments
or sinking fund payments with respect to the Notes.

                  8. Repurchase at Option of Holder. Subject to the restrictions
in Section 16 hereof:

                           (a) if there is a Change of Control, each Holder
shall have the right to require the Authority to repurchase all or any part
(equal to $1,000 or an integral multiple thereof) of such Holder's Notes
pursuant to an offer to purchase (a "Change of Control Offer") at a price equal
to 101% of the aggregate principal amount of Notes repurchased plus accrued and
unpaid interest thereon to the date of purchase (the "Change of Control
Payment"). Within 20 days following any Change of Control, the Authority shall
mail a notice to each Holder describing the transaction or transactions that
constitute the Change of Control and offering to repurchase Notes on the date
specified in such notice, which date shall be no earlier than 30 days and no
later than 60 days from the date such notice is mailed, pursuant to the
procedures required by the Indenture and described in such notice.

                           (b) When the aggregate amount of Excess Proceeds from
one or more Asset Sales exceeds $2.5 million, the Authority shall commence an
offer ("Asset Sale Offer") pursuant to Section 4.09 of the Indenture to all
Holders of Notes to purchase the maximum principal amount of Notes that may be
purchased out of the Excess Proceeds. The offer price in any Asset Sale Offer
shall be equal to 100% of principal amount plus accrued and unpaid interest and
Liquidated Damages, if any, to the date of purchase, and shall be payable in
cash, in accordance with the procedures set forth in the Indenture. If any
Excess Proceeds remain after consummation of an Asset Sale Offer, the Authority
may use such Excess Proceeds for any purpose not otherwise prohibited by the
Indenture. Upon completion of each Asset Sale Offer, the amount of Excess
Proceeds will be reset at zero.

                  9. Selection and Notice of Redemption. If less than all of the
Notes are to be redeemed at any time, the Trustee will select Notes for
redemption, subject to the restrictions in Section 16 hereof, as follows: (i) if
the Notes are listed, in compliance with the requirements of the principal
national securities exchange on which the Notes are listed, or (ii) if the Notes
are not so listed, on a pro rata basis, by lot or by any method as the Trustee
deems fair and appropriate. No Notes of $1,000 or less may be redeemed in part.
Except as otherwise provided in the Indenture, notices of redemption will be
mailed by first class mail at least 30 but not more than 60 days before the
redemption date to each Holder to be redeemed at its registered address. Notices
of redemption may not be conditional. If any Note is to be redeemed in part
only, the notice of redemption that relates to that Note will state the portion
of the principal amount thereof to be redeemed. A new Note in principal amount
equal to the unredeemed portion of the original Note will be issued in the name
of the Holder thereof upon cancellation of the original Note. Notes called for
redemption become due on the date fixed for redemption. On and after the
redemption date, interest shall cease to accrue on Notes or portions of them
called for redemption.

                                      A-7
<PAGE>

                  10. Denominations, Transfer, Exchange. The Notes are in
registered form without coupons in denominations of $1,000 and integral
multiples of $1,000. The transfer of Notes may be registered and Notes may be
exchanged as provided in the Indenture. The Registrar and the Trustee may
require a Holder, among other things, to furnish appropriate endorsements and
transfer documents and the Authority may require a Holder to pay any taxes and
fees required by law or permitted by the Indenture. The Authority is not
required to transfer or exchange any Note selected for redemption. Also, the
Authority is not required to transfer or exchange any Note for a period of 15
days before a selection of Notes to be redeemed.

                  11. Persons Deemed Owners. The registered Holder of a Note
will be treated as its owner for all purposes.

                  12. Amendment, Supplement and Waiver. Subject to certain
exceptions, the Indenture or the Notes may be amended or supplemented with the
consent of the Holders of at least a majority in principal amount of the then
outstanding Notes and Additional Notes, if any, voting as a single class
(including, without limitation, consents obtained in connection with a purchase
of, or tender offer or exchange offer for, the Notes), and any existing default
or compliance with any provision of the Indenture or the Notes may be waived
with the consent of the Holders of a majority in principal of the then
outstanding Notes and Additional Notes, if any, voting as a single class
(including, without limitation, consents obtained in connection with a purchase
of, or tender offer or exchange offer for, the Notes). Without the consent of
any Holder of a Note, the Indenture or the Notes may be amended or supplemented
to cure any ambiguity, defect or inconsistency, to provide for uncertificated
Notes in addition to or in place of Definitive Notes, to provide for the
assumption of the Authority's obligations to Holders of the Notes in case of a
merger or consolidation or sale of all or substantially all of the assets of the
Authority, to make any change that would provide any additional rights or
benefits to the Holders of the Notes or that does not adversely affect the legal
rights under the Indenture of any such Holder, or to comply with the
requirements of the SEC in order to effect or maintain the qualification of the
Indenture under the Trust Indenture Act, or to provide for the issuance of
Additional Notes in accordance with the limitations set forth in the Indenture.

                  13. Defaults and Remedies. In the case of an Event of Default,
as defined in the Indenture, arising from certain events of bankruptcy or
insolvency with respect to the Authority, all outstanding Notes will become due
and payable immediately and automatically without further action or notice,
subject to the restrictions set forth in Section 16 hereof. If any other Event
of Default occurs and is continuing, the Trustee or the Holders of at least 25%
in principal amount of the then outstanding Notes may declare all the Notes to
be due and payable immediately. Holders of the Notes may not enforce the
Indenture or the Notes except as provided in the Indenture. Subject to certain
limitations, Holders of a majority in principal amount of the then outstanding
Notes may direct the Trustee in its exercise of any trust or power. The Trustee
may withhold from Holders of the Notes notice of any continuing Default or Event
of Default (except a Default or Event of Default relating to the payment of
principal if it determines that withholding notice is in their interest. The
Holders of a majority in aggregate principal amount of the Notes then
outstanding by notice to the Trustee may, on behalf of the Holders of all of the
Notes, waive any existing Default or Event of Default and its consequences under
the Indenture except a continuing Default or Event of Default in the payment of
interest on, or the principal of, the Notes.

                  In the case of any Event of Default occurring by reason of any
willful action or inaction taken or not taken by the Authority or on their
behalf with the intention of avoiding payment of the premium that the Authority
would have had to pay if it then had elected to redeem the Notes pursuant to the
optional redemption provisions of the Indenture, an equivalent premium shall
also become and be immediately due and payable to the extent permitted by law
and subject to the restrictions set forth in Section 16 hereof upon the
acceleration of the Notes.

                                      A-8
<PAGE>

                  14. Trustee Dealings with Authority. The Trustee, in its
individual or any other capacity, may make loans to, accept deposits from, and
perform services for the Authority or its Affiliates, and may otherwise deal
with the Authority or its Affiliates, as if it were not the Trustee.

                  15. No Recourse Against Others. Neither the Tribe nor any
tribal member, council member, official, agent, director, officer, employee,
incorporator or stockholder of the Authority or the Tribe or Holder of an
Ownership Interest of the Authority will, as such, have any liability for any of
the Authority's obligations under the Notes, the Indenture, or for any claim
based on, in respect of, or by reason of, these obligations or their creation.
Each Holder by accepting a Note waives and releases these individuals from this
liability. The waiver and release are part of the consideration for issuance of
the Notes.

                  16. Special Provisions Regarding Unlicensed and Non-exempt
Holders. The Compact requires that any person who directly or indirectly extends
financing to the Tribe's gaming facility or gaming operation must be licensed as
a financial source by the Tribal Gaming Commission and must apply to the CGCC
for a finding of suitability. Under the Compact, however, the Tribal Gaming
Commission may exclude from such requirements any financing provided by a
federally or state regulated lending institution and any investor who, alone or
in conjunction with others, holds less than 10% of any outstanding indebtedness
evidenced by bonds issued by the tribe. The Tribal Gaming Commission has adopted
such exemptions with respect to holders of the Notes.

                  In addition, with the approval of the Tribal Gaming
Commission, Regulation CGCC-2 of the CGCC permits certain entities ("Qualifying
Entities") who are actual or prospective holders of any bonds (debt securities
issued pursuant to an indenture by or on behalf of a tribe) to register as a
financial source with the CGCC, resulting in an automatic determination of
suitability by the CGCC. As a complement to Regulation CGCC-2, the Tribal Gaming
Commission has adopted a regulation approving application of Regulation CGCC-2
to the holders of the Notes that also provides for the automatic Tribal Gaming
Commission licensing of each Qualifying Institution who properly submits a
license application in a form identical to the application required for
registration under Regulation CGCC-2.

                  Qualifying Institutions include each of the following entities
who own at least $100.0 million of securities of issuers that are not affiliated
with the entities: (i) a federally or state regulated bank, savings association
or other federal or state regulated lending institution, (ii) a company that is
organized as an insurance company, the primary and predominant business activity
of which is the writing of insurance or the reinsuring of risks underwritten by
insurance companies, and that is subject to supervision by the Insurance
Commissioner of California, or a similar official or agency of another state,
(iii) an investment company registered under the Investment Company Act of 1940,
(iv) a retirement plan established and maintained by the United States, an
agency or instrumentality thereof, or by a state, its political subdivisions, or
any agency or instrumentality of a state or its political subdivisions, for the
benefit of its employees, (v) an employee benefit plan within the meaning of
Title I of the Employee Retirement Income Security Act of 1974, (vi) a
securities dealer registered pursuant to the Securities Exchange Act of 1934,
and (vii) an entity, all of the equity owners of which, individually, meet the
foregoing criteria.

                  Regulation CGCC-2 further provides that any person can acquire
bonds after an initial offering without the need to obtain a license from the
Tribal Gaming Commission or to apply to the CGCC for a determination of
suitability, regardless of whether a holder owns less than 10% of a tribe's
bonds or is otherwise exempt from licensing. However, the regulation requires
the relevant indenture to contain certain restrictions on the enforcement and
post-default rights of holders who are not licensed or otherwise exempt from
licensing.

                                      A-9
<PAGE>

                  Accordingly, the Indenture provides that if any Notes are
transferred to a holder (or beneficial owner) that is not licensed or otherwise
exempted from licensing by the Tribal Gaming Commission in accordance with the
Compact, then neither the transferee holder (or beneficial owner) nor any person
acting on behalf of that transferee holder (or beneficial owner), including the
Trustee, will have any right to enforce any payment obligation relating to the
Notes against any revenues, property or rights of the Authority or the Tribe, or
any branch, department, agency, instrumentality, division, subsidiary,
enterprise, authority or wholly-owned corporation or business of the Tribe
(whether through the exercise of voting rights or otherwise), until such time as
the transferee holder is licensed or exempted from licensing by the Tribal
Gaming Commission in accordance with the Compact. Notwithstanding any other
provision of the Indenture, the Trustee, the Authority and the Tribe are
prohibited from making any payment on the Notes (1) as a result of any
enforcement action commenced by or on behalf of the Trustee or any holder or (2)
after payment of the Notes has been accelerated because of a default under the
Indenture, except in each case to a holder that is licensed or exempted from
licensing by the Tribal Gaming Commission in accordance with the Compact.

                  The foregoing provisions of this section 16 shall not apply to
any Person who is not licensed as a Financial Source (or exempted from such
requirement) to the extent the Compact or State Bond Regulation is ever amended
to not require such Person to be licensed as a Financial Source.

                  17. Authentication. This Note shall not be valid until
authenticated by the manual signature of the Trustee or an authenticating agent.

                  18. Additional Rights of Holders of the Restricted Global Note
and Restricted Definitive Notes. In addition to the rights provided to Holders
under the Indenture, Holders of the Restricted Global Note and Restricted
Definitive Notes shall have all the rights set forth in the Registration Rights
Agreement dated as of November 7, 2003, between the Authority and the parties
named on the signature pages thereof or, in the case of Additional Notes,
Holders of the Restricted Global Note and Restricted Definitive Notes shall have
the rights set forth in one or more registration rights agreements, if any,
between the Authority and the other parties thereto, relating to rights given by
the Authority to the purchasers of Additional Notes (the "Registration Rights
Agreement").

                  19. CUSIP Numbers. Pursuant to a recommendation promulgated by
the Committee on Uniform Security Identification Procedures, the Authority has
caused CUSIP numbers to be printed on the Notes and the Trustee may use CUSIP
numbers in notices of redemption as a convenience to Holders. No representation
is made as to the accuracy of such numbers either as printed on the Notes or as
contained in any notice of redemption and reliance may be placed only on the
other identification numbers placed thereon.

                  20. Waiver of Sovereign Immunity; Waiver as to Tribal Courts;
Consent to Jurisdictions; Applicable Law. All provisions in the Indenture
relating to Authority waivers of sovereign immunity and rights to resolve
disputes in tribal court, as well as all consents and agreements of the
Authority to applicable laws and jurisdictions for the resolution of disputes,
are hereby incorporated herein with the same force and effect as though set
forth at length herein.

                                      A-10
<PAGE>

                  The Authority shall furnish to any Holder upon written request
and without charge a copy of the Indenture and/or the Registration Rights
Agreement. Requests may be made to:

                  River Rock Entertainment Authority
                  3250 Highway 128
                  Geyserville, California  95441
                  Facsimile:  (707) 857-2726
                  Attention:  Chairperson

                  and

                  Holland & Knight LLP
                  633 West Fifth Street, 21st Floor
                  Los Angeles, California 90071
                  Facsimile:  (213) 896-2450
                  Attention:  Jerome Levine

                                      A-11
<PAGE>

                                 ASSIGNMENT FORM

                  To assign this Note, fill in the form below:

(I) or (we) assign and transfer this Note to: _________________________________
                                               (Insert assignee's legal name)

_______________________________________________________________________________
                  (Insert assignee's soc. sec. or tax I.D. no.)

_______________________________________________________________________________
_______________________________________________________________________________
_______________________________________________________________________________
_______________________________________________________________________________
              (Print or type assignee's name, address and zip code)

and irrevocably appoint _______________________________________________________

to transfer this Note on the books of the Authority. The agent may substitute
another to act for him.

Date: _____________________

                                       Your Signature: ________________________
                   (Sign exactly as your name appears on the face of this Note)

Signature Guarantee*: _____________________________

* Participant in a recognized Signature Guarantee Medallion Program (or other
signature guarantor acceptable to the Trustee).

                                      A-12
<PAGE>

                       OPTION OF HOLDER TO ELECT PURCHASE

                  If you want to elect to have this Note purchased by the
Authority pursuant to Section 4.09 or 4.14 of the Indenture, check the
appropriate box below:

                            Section 4.09   Section 4.14

                  If you want to elect to have only part of the Note purchased
by the Authority pursuant to Section 4.09 or Section 4.14 of the Indenture,
state the amount you elect to have purchased:

                            $_______________________

Date: ________________

                                       Your Signature: ________________________
                    (Sign exactly as your name appears on the face of this Note)

                               Tax Identification No.: _________________________

Signature Guarantee*: ________

*  Participant in a recognized Signature Guarantee Medallion Program (or other
   signature guarantor acceptable to the Trustee).

                                      A-13
<PAGE>

              SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE

                  The following exchanges of a part of this Global Note for an
interest in another Global Note or for a Definitive Note, or exchanges of a part
of another Global Note or Definitive Note for an interest in this Global Note,
have been made:

<TABLE>
<CAPTION>

                                                                        Principal Amount at
                        Amount of Decrease in  Amount of Increase in         Maturity             Signature of
                         Principal Amount at    Principal Amount at     of this Global Note    Authorized Officer
                              Maturity                Maturity            Following such          of Trustee or
   Date of Exchange      of this Global Note    of this Global Note   decrease (or increase)     Note Custodian
   ----------------      -------------------    -------------------   ----------------------     --------------
<S>                      <C>                    <C>                   <C>                        <C>

</TABLE>

                                      A-14
<PAGE>

                                                                      EXHIBIT B

                         FORM OF CERTIFICATE OF TRANSFER

River Rock Entertainment Authority
3250 Highway 128
Geyserville, California  95441
Facsimile:  (707) 857-2726
Attention:  Chief Financial Officer

U.S. Bank National Association
60 Livingston Avenue
St. Paul, MN 55107-2292
Internal mail EP-MN-WS3C
Facsimile: (651) 495-8097

                  Re:  9 3/4% Senior Notes due 2011

                  Reference is hereby made to the Indenture, dated as of
November 7, 2003 (the "Indenture"), among River Rock Entertainment Authority
(the "Authority"), an unincorporated instrumentality wholly owned by the Dry
Creek Rancheria Band of Pomo Indians, a federally recognized Indian Tribe and
sovereign nation (the "Tribe"), and U.S. Bank National Association, as trustee.
Capitalized terms used but not defined herein shall have the meanings given to
them in the Indenture.

                  ___________________ (the "Transferor") owns and proposes to
transfer the Note[s] or interest in such Note[s] specified in Annex A hereto, in
the principal amount at maturity of $___________ in such Note[s] or interests
(the "Transfer"), to ___________________________ (the "Transferee"), as further
specified in Annex A hereto. In connection with the Transfer, the Transferor
hereby certifies that:

                             [CHECK ALL THAT APPLY]

                  1.   Check if Transferee will take delivery of a beneficial
interest in the Restricted Global Note or a Definitive Note Pursuant to Rule
144A. The Transfer is being effected pursuant to and in accordance with Rule
144A under the United States Securities Act of 1933, as amended (the "Securities
Act"), and, accordingly, the Transferor hereby further certifies that the
beneficial interest or Definitive Note is being transferred to a Person that the
Transferor reasonably believed and believes is purchasing the beneficial
interest or Definitive Note for its own account, or for one or more accounts
with respect to which such Person exercises sole investment discretion, and such
Person and each such account is a "qualified institutional buyer" within the
meaning of Rule 144A in a transaction meeting the requirements of Rule 144A and
such Transfer is in compliance with any applicable blue sky securities laws of
any state of the United States. Upon consummation of the proposed Transfer in
accordance with the terms of the Indenture, the transferred beneficial interest
or Definitive Note will be subject to the restrictions on transfer enumerated in
the Private Placement Legend printed on the Global Note and/or the Definitive
Note and in the Indenture and the Securities Act.

                                      B-1
<PAGE>

                  2.   Check if Transferee will take delivery of a beneficial
interest in a Definitive Note pursuant to Regulation S. The Transfer is being
effected pursuant to and in accordance with Rule 903 or Rule 904 under the
Securities Act and, accordingly, the Transferor hereby further certifies that
(i) the Transfer is not being made to a person in the United States and (x) at
the time the buy order was originated, the Transferee was outside the United
States or such Transferor and any Person acting on its behalf reasonably
believed and believes that the Transferee was outside the United States or (y)
the transaction was executed in, on or through the facilities of a designated
offshore securities market and neither such Transferor nor any Person acting on
its behalf knows that the transaction was prearranged with a buyer in the United
States, (ii) no directed selling efforts have been made in contravention of the
requirements of Rule 903(b) or Rule 904(b) of Regulation S under the Securities
Act, (iii) the transaction is not part of a plan or scheme to evade the
registration requirements of the Securities Act and (iv) if the proposed
transfer is being made prior to the expiration of the Restricted Period, the
transfer is not being made to a U.S. Person or for the account or benefit of a
U.S. Person (other than the Initial Purchaser). Upon consummation of the
proposed transfer in accordance with the terms of the Indenture, the transferred
beneficial interest or Definitive Note will be subject to the restrictions on
Transfer enumerated in the Private Placement Legend printed on the Definitive
Note and in the Indenture and the Securities Act.

                  3.   Check and complete if Transferee will take delivery of a
beneficial interest in the Definitive Note pursuant to any provision of the
Securities Act other than Rule 144A or Regulation S. The Transfer is being
effected in compliance with the transfer restrictions applicable to beneficial
interests in the Restricted Global Note and Restricted Definitive Notes and
pursuant to and in accordance with the Securities Act and any applicable blue
sky securities laws of any state of the United States, and accordingly the
Transferor hereby further certifies that (check one):

                  (a) such Transfer is being effected pursuant to and in
         accordance with Rule 144 under the Securities Act;

                                       or

                  (b) such Transfer is being effected to the Authority;

                                       or

                  (c)  such Transfer is being effected pursuant to an effective
         registration statement under the Securities Act and in compliance with
         the prospectus delivery requirements of the Securities Act;

                                       or

                  (d) such Transfer is being effected to an Institutional
         Accredited Investor and pursuant to an exemption from the registration
         requirements of the Securities Act other than Rule 144A, Rule 144 or
         Rule 904, and the Transferor hereby further certifies that it has not
         engaged in any general solicitation within the meaning of Regulation D
         under the Securities Act and the Transfer complies with the transfer
         restrictions applicable to beneficial interests in the Restricted
         Global Note or Restricted Definitive Notes and the requirements of the
         exemption claimed, which certification is supported by (1) a
         certificate executed by the Transferee in the form of Exhibit D to the
         Indenture and (2) an Opinion of Counsel provided by the Transferor or
         the Transferee (a copy of which the Transferor has attached to this
         certification), to the effect that such Transfer is in compliance with
         the Securities Act. Upon consummation of the proposed transfer in
         accordance with the terms of the Indenture, the transferred beneficial
         interest or Definitive Note will be subject to the restrictions on
         transfer enumerated in the Private Placement Legend printed on the
         Restricted Global Note and/or the Definitive Notes and in the Indenture
         and the Securities Act.

                                      B-2
<PAGE>

                  4. Check if Transferee will take delivery of a beneficial
         interest in the Unrestricted Global Note or of an Unrestricted
         Definitive Note.

                  (a) Check if Transfer is Pursuant to Rule 144. (i) The
         Transfer is being effected pursuant to and in accordance with Rule 144
         under the Securities Act and in compliance with the transfer
         restrictions contained in the Indenture and any applicable blue sky
         securities laws of any state of the United States and (ii) the
         restrictions on transfer contained in the Indenture and the Private
         Placement Legend are not required in order to maintain compliance with
         the Securities Act. Upon consummation of the proposed Transfer in
         accordance with the terms of the Indenture, the transferred beneficial
         interest or Definitive Note will no longer be subject to the
         restrictions on transfer enumerated in the Private Placement Legend
         printed on the Restricted Global Note, on Restricted Definitive Notes
         and in the Indenture.

                  (b) Check if Transfer is Pursuant to Regulation S. (i) The
         Transfer is being effected pursuant to and in accordance with Rule 903
         or Rule 904 under the Securities Act and in compliance with the
         transfer restrictions contained in the Indenture and any applicable
         blue sky securities laws of any state of the United States and (ii) the
         restrictions on transfer contained in the Indenture and the Private
         Placement Legend are not required in order to maintain compliance with
         the Securities Act. Upon consummation of the proposed Transfer in
         accordance with the terms of the Indenture, the transferred beneficial
         interest or Definitive Note will no longer be subject to the
         restrictions on transfer enumerated in the Private Placement Legend
         printed on the Restricted Global Note, on Restricted Definitive Notes
         and in the Indenture.

                  (c) Check if Transfer is Pursuant to Other Exemption. (i) The
         Transfer is being effected pursuant to and in compliance with an
         exemption from the registration requirements of the Securities Act
         other than Rule 144, Rule 903 or Rule 904 and in compliance with the
         transfer restrictions contained in the Indenture and any applicable
         blue sky securities laws of any State of the United States and (ii) the
         restrictions on transfer contained in the Indenture and the Private
         Placement Legend are not required in order to maintain compliance with
         the Securities Act. Upon consummation of the proposed Transfer in
         accordance with the terms of the Indenture, the transferred beneficial
         interest or Definitive Note will not be subject to the restrictions on
         transfer enumerated in the Private Placement Legend printed on the
         Restricted Global Note or Restricted Definitive Notes and in the
         Indenture.

                  This certificate and the statements contained herein are made
for your benefit and the benefit of the Company.

                                          -------------------------------------
                                              [Insert Name of Transferor]

                                          By:
                                             ----------------------------------
                                               Name:
                                               Title:
Dated:
       -----------------------------

                                      B-3
<PAGE>

                       ANNEX A TO CERTIFICATE OF TRANSFER

1. The Transferor owns and proposes to transfer the following:

                            [CHECK ONE OF (A) OR (B)]

                  (A) a beneficial interest in the 144A Global Note (CUSIP
         __________); or

                  (B) a Restricted Definitive Note.

2. After the Transfer the Transferee will hold:

                                   [CHECK ONE]

                  (A) a beneficial interest in the:

                           (i) 144A Global Note (CUSIP __________); or

                           (ii) Unrestricted Global Note (CUSIP ); or

                  (B) a Restricted Definitive Note; or

                  (C) an Unrestricted Definitive Note,

in accordance with the terms of the Indenture.

                                      B-4
<PAGE>

                                                                      EXHIBIT C

                         FORM OF CERTIFICATE OF EXCHANGE

River Rock Entertainment Authority
3250 Highway 128
Geyserville, California  95441
Facsimile:  (707) 857-2726
Attention:  Chief Financial Officer

U.S. Bank National Association
60 Livingston Avenue
St. Paul, MN 55107-2292
Internal mail EP-MN-WS3C
Facsimile: (651) 495-8097

                  Re:  9 3/4% Senior Notes due 2011

                  Reference is hereby made to the Indenture, dated as of
November 7, 2003 (the "Indenture"), among River Rock Entertainment Authority
(the "Authority"), an unincorporated instrumentality wholly owned by the Dry
Creek Rancheria Band of Pomo Indians, a federally recognized Indian Tribe and
sovereign nation (the "Tribe"), and U.S. Bank National Association, as Trustee.
Capitalized terms used but not defined herein shall have the meanings given to
them in the Indenture.

                  __________________________ (the "Owner") owns and proposes to
exchange the Note[s] or interest in such Note[s] specified herein, in the
principal amount at maturity of $____________ in such Note[s] or interests (the
"Exchange"). In connection with the Exchange, the Owner hereby certifies that:

                  1. Exchange of Restricted Definitive Notes or Beneficial
Interests in the Restricted Global Note for Unrestricted Definitive Notes or
Beneficial Interests in the Unrestricted Global Note

                           (1) Check if Exchange is from beneficial interest in
                  the Restricted Global Note to beneficial interest in the
                  Unrestricted Global Note. In connection with the Exchange of
                  the Owner's beneficial interest in the Restricted Global Note
                  for a beneficial interest in the Unrestricted Global Note in
                  an equal principal amount at maturity, the Owner hereby
                  certifies (i) the beneficial interest is being acquired for
                  the Owner's own account without transfer, (ii) such Exchange
                  has been effected in compliance with the transfer restrictions
                  applicable to the Global Notes and pursuant to and in
                  accordance with the United States Securities Act of 1933, as
                  amended (the "Securities Act"), (iii) the restrictions on
                  transfer contained in the Indenture and the Private Placement
                  Legend are not required in order to maintain compliance with
                  the Securities Act and (iv) the beneficial interest in the
                  Unrestricted Global Note is being acquired in compliance with
                  any applicable blue sky securities laws of any state of the
                  United States.

                                      C-1
<PAGE>

                           (2) Check if Exchange is from beneficial interest in
                  the Restricted Global Note to Unrestricted Definitive Note. In
                  connection with the Exchange of the Owner's beneficial
                  interest in the Restricted Global Note for an Unrestricted
                  Definitive Note, the Owner hereby certifies (i) the Definitive
                  Note is being acquired for the Owner's own account without
                  transfer, (ii) such Exchange has been effected in compliance
                  with the transfer restrictions applicable to the Restricted
                  Global Note and pursuant to and in accordance with the
                  Securities Act, (iii) the restrictions on transfer contained
                  in the Indenture and the Private Placement Legend are not
                  required in order to maintain compliance with the Securities
                  Act and (iv) the Definitive Note is being acquired in
                  compliance with any applicable blue sky securities laws of any
                  state of the United States.

                           (3)  Check if Exchange is from Restricted Definitive
                  Note to beneficial interest in the Unrestricted Global Note.
                  In connection with the Owner's Exchange of a Restricted
                  Definitive Note for a beneficial interest in the Unrestricted
                  Global Note, the Owner hereby certifies (i) the beneficial
                  interest is being acquired for the Owner's own account without
                  transfer, (ii) such Exchange has been effected in compliance
                  with the transfer restrictions applicable to Restricted
                  Definitive Notes and pursuant to and in accordance with the
                  Securities Act, (iii) the restrictions on transfer contained
                  in the Indenture and the Private Placement Legend are not
                  required in order to maintain compliance with the Securities
                  Act and (iv) the beneficial interest is being acquired in
                  compliance with any applicable blue sky securities laws of any
                  state of the United States.

                           (4) Check if Exchange is from Restricted Definitive
                  Note to Unrestricted Definitive Note. In connection with the
                  Owner's Exchange of a Restricted Definitive Note for an
                  Unrestricted Definitive Note, the Owner hereby certifies (i)
                  the Unrestricted Definitive Note is being acquired for the
                  Owner's own account without transfer, (ii) such Exchange has
                  been effected in compliance with the transfer restrictions
                  applicable to Restricted Definitive Notes and pursuant to and
                  in accordance with the Securities Act, (iii) the restrictions
                  on transfer contained in the Indenture and the Private
                  Placement Legend are not required in order to maintain
                  compliance with the Securities Act and (iv) the Unrestricted
                  Definitive Note is being acquired in compliance with any
                  applicable blue sky securities laws of any state of the United
                  States.

                  2. Exchange of Restricted Definitive Notes or Beneficial
Interests in the Restricted Global Note for Restricted Definitive Notes or
Beneficial Interests in the Restricted Global Note

                           (1) Check if Exchange is from beneficial interest in
                  the Restricted Global Note to Restricted Definitive Note. In
                  connection with the Exchange of the Owner's beneficial
                  interest in the Restricted Global Note for a Restricted
                  Definitive Note with an equal principal amount at maturity,
                  the Owner hereby certifies that the Restricted Definitive Note
                  is being acquired for the Owner's own account without
                  transfer. Upon consummation of the proposed Exchange in
                  accordance with the terms of the Indenture, the Restricted
                  Definitive Note issued will continue to be subject to the
                  restrictions on transfer enumerated in the Private Placement
                  Legend printed on the Restricted Definitive Note and in the
                  Indenture and the Securities Act.

                                      C-2
<PAGE>

                           (2) Check if Exchange is from Restricted Definitive
                  Note to beneficial interest in the Restricted Global Note. In
                  connection with the Exchange of the Owner's Restricted
                  Definitive Note for a beneficial interest in the Restricted
                  Global Note with an equal principal amount at maturity, the
                  Owner hereby certifies (i) the beneficial interest is being
                  acquired for the Owner's own account without transfer and (ii)
                  such Exchange has been effected in compliance with the
                  transfer restrictions applicable to the Restricted Global Note
                  and pursuant to and in accordance with the Securities Act, and
                  in compliance with any applicable blue sky securities laws of
                  any state of the United States. Upon consummation of the
                  proposed Exchange in accordance with the terms of the
                  Indenture, the beneficial interest issued will be subject to
                  the restrictions on transfer enumerated in the Private
                  Placement Legend printed on the relevant Restricted Global
                  Note and in the Indenture and the Securities Act.

                  This certificate and the statements contained herein are made
for your benefit and the benefit of the Company.

                                             ----------------------------------
                                               [Insert Name of Transferor]

                                             By:
                                                -------------------------------
                                                  Name:
                                                  Title:
Dated:
       -----------------------------

                                      C-3
<PAGE>

                                                                      EXHIBIT D

                            FORM OF CERTIFICATE FROM
                   ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR

River Rock Entertainment Authority
3250 Highway 128
Geyserville, California  95441
Facsimile:  (707) 857-2726
Attention:  Chief Financial Officer

U.S. Bank National Association
60 Livingston Avenue
St. Paul, MN 55107-2292
Internal mail EP-MN-WS3C
Facsimile: (651) 495-8097

                  Re:  9 3/4% Senior Notes due 2011

                  Reference is hereby made to the Indenture, dated as of
November 7, 2003 (the "Indenture"), among River Rock Entertainment Authority
(the "Authority" which term includes any successor under the Indenture
hereinafter referred to), an unincorporated instrumentality wholly owned by the
Dry Creek Rancheria Band of Pomo Indians, a federally recognized Indian Tribe
and Native American sovereign nation (the "Tribe"), and U.S. Bank National
Association, as Trustee. Capitalized terms used but not defined herein shall
have the meanings given to them in the Indenture.

                  In connection with our proposed purchase of $____________
aggregate principal amount at maturity of:

                  (a) a beneficial interest in a Global Note, or

                  (b) a Definitive Note,

                  we confirm that:

                  1. We understand that any subsequent transfer of the Notes or
any interest therein is subject to certain restrictions and conditions set forth
in the Indenture and the undersigned agrees to be bound by, and not to resell,
pledge or otherwise transfer the Notes or any interest therein except in
compliance with, such restrictions and conditions and the United States
Securities Act of 1933, as amended (the "Securities Act").

                  2. We understand that the offer and sale of the Notes have not
been registered under the Securities Act, and that the Notes and any interest
therein may not be offered or sold except as permitted in the following
sentence. We agree, on our own behalf and on behalf of any accounts for which we
are acting as hereinafter stated, that if we should sell the Notes or any
interest therein, we will do so only (A) to the Authority, (B) in accordance
with Rule 144A under the Securities Act to a "qualified institutional buyer" (as
defined therein), (C) to an institutional "accredited investor" (as defined
below) that, prior to such transfer, furnishes (or has furnished on its behalf
by a U.S. broker-dealer) to you and to the Authority a signed letter
substantially in the form of this letter and an Opinion of Counsel in form
reasonably acceptable to the Authority to the effect that such transfer is in
compliance with the Securities Act, (D) outside the United States in accordance
with Rule 904 of Regulation S under the Securities Act, (E) pursuant to the
provisions of Rule 144(k) under the Securities Act or (F) pursuant to an
effective registration statement under the Securities Act, and we further agree
to provide to any person purchasing the Definitive Note or beneficial interest
in a Global Note from us in a transaction meeting the requirements of clauses
(A) through (E) of this paragraph a notice advising such purchaser that resales
thereof are restricted as stated herein.

                                      D-1
<PAGE>

                  3. We understand that, on any proposed resale of the Notes or
beneficial interest therein, we will be required to furnish to you and the
Authority such certifications, legal opinions and other information as you and
the Authority may reasonably require to confirm that the proposed sale complies
with the foregoing restrictions. We further understand that the Notes purchased
by us will bear a legend to the foregoing effect.

                  4. We are an institutional "accredited investor" (as defined
in Rule 501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act) and
have such knowledge and experience in financial and business matters as to be
capable of evaluating the merits and risks of our investment in the Notes, and
we and any accounts for which we are acting are each able to bear the economic
risk of our or its investment.

                  5. We are acquiring the Notes or beneficial interest therein
purchased by us for our own account or for one or more accounts (each of which
is an institutional "accredited investor") as to each of which we exercise sole
investment discretion.

                  You and the Authority are entitled to rely upon this letter
and are irrevocably authorized to produce this letter or a copy hereof to any
interested party in any administrative or legal proceedings or official inquiry
with respect to the matters covered hereby.

                                         --------------------------------------
                                           [Insert Name of Accredited Investor]

                                        By:
                                           ------------------------------------
                                             Name:
                                             Title:
Dated:
       ------------------

                                      D-2
<PAGE>

                                                                      EXHIBIT E

                     FORM OF RESTRICTED PAYMENT CERTIFICATE

                  The undersigned, [Name], [Title], and [Name], [Title], on
behalf of the River Rock Entertainment Authority (the "Authority"), and
unincorporated instrumentality wholly owned by the Dry Creek Rancheria Band of
Pomo Indians (the "Tribe"), pursuant to Section 4.07 of the Indenture dated
November 7, 2003 (the "Indenture") among the Authority, the Tribe, and U.S. Bank
National Association, as Trustee, do hereby certify on behalf of the Authority
that the Expansion Project as more fully described in the Offering Memorandum
has been open and fully operational for at least 90 consecutive days.

                  Capitalized terms used herein and not otherwise defined shall
have the meanings ascribed to them in the Indenture.

                  IN WITNESS WHEREOF, we have executed this Officers'
Certificate of the Authority as of this ____ day of ______, 20__.

                                      By:__________________________________

                                      By:__________________________________

<PAGE>

                                                                    EXHIBIT F-1

STATE OF CALIFORNIA
CALIFORNIA GAMBLING CONTROL COMMISSION (04/02)
               APPLICATION FOR REGISTRATION AS A FINANCIAL SOURCE
The applicant described below hereby applies to the California Gambling Control
Commission (Commission) for registration as a Financial Source under Regulation
CGCC-2 of the Commission.
-------------------------------------------------------------------------------
                         Part I - Applicant Information
-------------------------------------------------------------------------------
Applicant Name:                                      Date of Application

-------------------------------------------------------------------------------
Applicant's Form of Incorporation or Organization
-------------------------------------------------------------------------------
Applicant's Place of Incorporation or Organization
-------------------------------------------------------------------------------
Applicant's Principal Place of Business Address (street, city, state, ZIP)

-------------------------------------------------------------------------------
Authorized Contact Person
-------------------------------------------------------------------------------
Title                                                  Telephone Number (     )
-------------------------------------------------------------------------- ----
Name of the Tribe to which financing being provided

-------------------------------------------------------------------------------
                       Part II - Eligibility Requirements
-------------------------------------------------------------------------------
o    Attached as Exhibit A to this application is the application for licensing
     submitted by the Applicant to the Tribal Gaming Agency of the Tribe named
     in Part I pursuant to Section 6.4.6 of the Tribal-State Gaming Compact
     between such Tribe and the State of California
-------------------------------------------------------------------------------
o    Attached as Exhibit B to this application

o    Evidence that the applicant (including all wholly-owned subsidiaries),
     acting for its own account or the accounts of other entities specified in
     clause (b) below, owns in the aggregate at least $1000,000,000 of
     securities of issuers that are not affiliated with the applicant; and

o    Evidence that the applicant is on of the following types of entities (as
     indicated by applicant):

|_|  A federal-regulated or state-regulated bank or savings association or other
     federal- or state-regulated lending institution;

|_|  A company that is organized as an insurance company, the primary and
     predominant business activity of which is the writing of insurance of the
     reinsuring of risks underwritten by insurance companies, and that is
     subject to supervision by the Insurance Commissioner of California, or a
     similar official or agency of another state;

|_|  An investment company registered under the federal Investment Company Act
     of 1940 (15 U.S.C. Section 80a-1 et seq.);

|_|  A retirement plan established and maintained by the United States of
     America, an agency or instrumentality thereof, or by a state, its political
     subdivisions, or any agency or instrumentality of a state or its political
     subdivisions, for the benefit of its employees;

|_|  An employee benefit plan within the meaning of Title I of the federal
     Employee Retirement Income Security Act of 1974 (29 U.S.C. Section 1001 et
     seq.);

|_|  A securities dealer registered pursuant to the federal Security Exchange
     Act of 1934 (15 U.S.C. Section 78a et seq.); or

|_|  An entity, all of the equity owners of which individually meet the criteria
     of this clause (b).

--------------------------------------------------------------------------------
          Part III - Representation and Agreement Regarding Eligibility
--------------------------------------------------------------------------------
The undersigned hereby represents on behalf of the applicant that the applicant
is eligible to register as a Financial Source under Regulation CGCC-2. In
addition, the undersigned hereby agrees on behalf of the applicant to notify the
Tribal Gaming Agency of the Tribe named in Part I of this application and the
California Gambling Control Commission promptly in writing of any termination of
the applicant's eligibility for registration under Regulation CGCC-2.
--------------------------------------------------------------------------------
The undersigned hereby declares that s/he is an authorized officer or designee
of the applicant with full authority to execute and submit on behalf of the
applicant to be registered as a Financial Source within the meaning of
Regulation CGCC-2.

-----------------------------------     -----------------------------------
Signature                               Title

-----------------------------------     -----------------------------------
      NAME OF INDIVIDUAL                          NAME OF COMPANY
    (PLEASE TYPE OR PRINT)                     (PLEASE TYPE OR PRINT)

<PAGE>

                                                                     EXHIBIT F-2

                  DRY CREEK RANCHERIA TRIBAL GAMING COMMISSION
                 APPLICATION FOR LICENSURE AS A FINANCIAL SOURCE

The applicant described below hereby applies to the Dry Creek Rancheria Tribal
Gaming Commission for licensure as a Financial Source under Regulation of the
Tribal Gaming Agency and Regulation CGCC-2 of the California Gambling Control
Commission (the "State Commission").

-------------------------------------------------------------------------------
                         Part I - Applicant Information
-------------------------------------------------------------------------------
Applicant Name:                                            Date of Application

-------------------------------------------------------------------------------
Applicant's Form of Incorporation or Organization

-------------------------------------------------------------------------------
Applicant's Place of Incorporation or Organization

-------------------------------------------------------------------------------
Applicant's Principal Place of Business Address (street, city, state, ZIP)

-------------------------------------------------------------------------------
Authorized Contact Person

-------------------------------------------------------------------------------
Title                                           Telephone Number (     )

-------------------------------------------------------------------------------
     Part II - Eligibility Requirements
-------------------------------------------------------------------------------
     o Attached as Exhibit A to this application is:

o    Evidence that the applicant (including all wholly-owned subsidiaries),
     acting for its own account or the accounts of other entities specified in
     this Part II, owns in the aggregate at least $100,000,000 of securities of
     issuers that are not affiliated with the applicant; and

o    Evidence that the applicant is one of the following types of entities (as
     indicated by applicant):

|_|  A federally-regulated or state-regulated bank or savings association or
     other federally- or state-regulated lending institution;

|_|  A company that is organized as an insurance company, the primary and
     predominant business activity of which is the writing of insurance or the
     reinsuring of risks underwritten by insurance companies, and that is
     subject to supervision by the Insurance Commissioner of California, or a
     similar official or agency of another state;

|_|  An investment company registered under the federal Investment Company Act
     of 1940 (15 U.S.C. Section 80a-1 et seq.);

|_|  A retirement plan established and maintained by the United States of
     America, an agency or instrumentality thereof, or by a state, its political
     subdivisions, or any agency or instrumentality of a state or its political
     subdivisions, for the benefit of its employees;

|_|  An employee benefit plan within the meaning of Title I of the federal
     Employee Retirement Income Security Act of 1974 (29 U.S.C. Section 1001 et
     seq.);

|_|  A securities dealer registered pursuant to the federal Security Exchange
     Act of 1934 (15 U.S.C. Section 78a et seq.); or

|_|  An entity, all of the equity owners of which individually meet the criteria
     of this Part II.

-------------------------------------------------------------------------------
          Part III - Representation and Agreement Regarding Eligibility
-------------------------------------------------------------------------------

The undersigned hereby represents on behalf of the applicant that the applicant
is eligible to register as a Financial Source under Regulation CGCC-2 of the
State Commission. In addition, the undersigned hereby agrees on behalf of the
applicant to notify the Dry Creek Tribal Gaming Agency and the State Commission
promptly in writing of any termination of the applicant's eligibility for
registration under Regulation CGCC-2 of the State Commission.
--------------------------------------------------------------------------------
The undersigned hereby declares that s/he is an authorized officer or designee
of the applicant with full authority to execute and submit this application on
behalf of the applicant to be registered as a Financial Source within the
meaning of Regulation CGCC-2.

-----------------------------                    ------------------------------
Signature                                        Title

-------------------------------------------------------------------------------
     Name of individual                                 Name of Company
   (please type or print)                           (please type or print)

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