Document:

Exhibit 10.24

                             SHAREHOLDERS' AGREEMENT

                           Dated as of March 14, 2000

                                      among

                    WINDSOR WOODMONT BLACK HAWK RESORT CORP.

                                       and

                  THE SHAREHOLDERS LISTED ON SCHEDULE A HERETO

<PAGE>

                             SHAREHOLDERS' AGREEMENT

     This SHAREHOLDERS' AGREEMENT (this "Agreement"), is entered into as of
March 14, 2000, among Windsor Woodmont Black Hawk Resort Corp., a Colorado
corporation (the "Company"), and those shareholders listed on Schedule A hereto
(each, a "Shareholder" and, collectively, the "Shareholders").

     WHEREAS, the Shareholders have agreed to purchase an aggregate of 1,000,000
shares of Common Stock of the Company, par value $.01 per share (the "Shares")
in the amounts set forth on Schedule A hereto;

     WHEREAS, on or prior to the date hereof, the Company has amended and
restated its Articles of Incorporation and Bylaws in the forms attached hereto
as Exhibit A and Exhibit B hereto, respectively; and

     WHEREAS, the Shareholders and the Company wish to record their
understanding regarding certain matters relating to the management of the
Company and certain other matters;

     NOW, THEREFORE, in consideration of the foregoing and of the mutual
covenants and agreements contained in this Agreement and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto agree as follows:

                                    ARTICLE I

                                   DEFINITIONS

     Section 1.1 Definitions In addition to the terms defined in the preamble
and recitals to this Agreement and elsewhere herein, the following terms shall
have the meanings set forth herein for the purposes of this Agreement:

          "Affiliate" with respect to a Person, means a Person that controls, is
     controlled by or is under common control with such Person. For purposes of
     this definition, "control," when used with respect to any Person, means the
     power to direct the management and policies of such Person, directly or
     indirectly, whether through the ownership of voting securities, by contract
     or otherwise; and the terms "affiliated," "controlling" and "controlled"
     have meanings correlative to the foregoing.

          "Beneficial Owner" means any Person deemed to be a "beneficial owner"
     of a security as defined in Rule 16a-l(a)(2) under the Exchange Act. The
     terms "Beneficially Own" and "Beneficial Ownership" have correlative
     meanings.

          "Board" means the Company's Board of Directors.

                                      -2-

<PAGE>

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

          "Fully Diluted Basis" with respect to any security, means all of the
     issued shares of such security and includes, without limitation, (a) all of
     the outstanding shares of such security (except shares then held by or for
     the account of the issuer or its wholly owned subsidiaries), (b) any and
     all shares of such security issuable upon conversion of securities
     convertible into such security, whether or not convertible at such time,
     and (c) any and all shares of such security issuable upon exercise of other
     exercisable rights to acquire such security, including options, warrants
     and participation rights, whether or not exercisable at such time.

          "Person" means any individual, corporation, proprietorship, firm,
     partnership, limited partnership, limited liability company, trust,
     association or other entity.

          "SEC" means the Securities and Exchange Commission.

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

          "Warrant Holders" means the purchasers of the Company's units, Hyatt
     Gaming Management, Inc., U.S. Bancorp Libra and the purchasers of the
     Company's Series B preferred stock who acquire Warrants on the date hereof.

          "Warrants" means the warrants to purchase Shares to be issued on the
     date hereof to the Warrant Holders.

          "Warrant Shares" means the Shares issuable upon the exercise of
     Warrants.

                                   ARTICLE II
                              BOARD REPRESENTATION

     Section 2.1 Composition of Board. The Company's Board will be comprised of
six (6) members. A director shall serve until the next annual meeting of the
Shareholders and until his or her successor shall be elected and shall qualify,
subject, however, to prior death, resignation or removal.

     Section 2.2 Director Qualifications. The Shareholders will not name any
person as a nominee to become a member of the Board of the Company (a "Director
Nominee") if (a) such person is not reasonably experienced in business,
financial, hotel management or gaming industry matters; (b) such person has been
convicted of, or has pled nolo contender to, a felony; (c) the election of such
person would violate any law; (d) such person is prohibited from licensure under
the Colorado Limited Gaming Act or other similar law; or (e) any event required
to be disclosed pursuant to Item 401(f) of Regulation S-K of the Exchange Act

                                      -3-

<PAGE>

has occurred with respect to such person. The Company agrees that it will use
its best efforts to cause the election of the Director Nominees to the Company's
Board and each of the Shareholders agrees that it shall vote (or cause to be
voted) all Shares Beneficially Owned by it in favor of such Director Nominees.

     Section 2.3 Covenant to Vote.

     (a) So long as The Ravich Revocable Trust of 1989 (the "Ravich Trust") owns
shares of the Company's Series B preferred stock, Jess Ravich, acting in his
capacity as trustee of the Ravich Trust, shall be entitled to nominate one
person for election as director of the Company.

     (b) Each of the Shareholders shall appear in person or by proxy at any
annual or special meeting of Shareholders called for the purpose of voting on
the election of such director, if such director has been nominated for election,
or removal of such director, if such director has been designated for removal,
for the purpose of obtaining a quorum and shall vote or cause the vote of the
Shares owned by such Shareholder in favor of such election of the director
nominated, or removal and/or replacement of the director designated, in
accordance with this Section 2.3. If the Ravich Trust does not designate a
director pursuant to this Section 2.3, each of the Shareholders shall appear in
person or by proxy at any annual or special meeting of Shareholders for the
purpose of obtaining a quorum and shall vote or cause the vote of the Shares
owned by such Shareholder, for the re-election of the prior director designated
by the Ravich Trust failing to exercise its rights to designate a director
pursuant to this Section 2.3. Notwithstanding the foregoing, Paul Steelman and
Christiania Limited Partnership, as Shareholders entitled to appear, shall not
be required to appear in person or by proxy at any annual or special meeting of
Shareholders called for any purpose set forth in this Section 2.3(b) or Section
2.3 (c).

     (c) The director designated by the Ravich Trust shall be subject to removal
by the Ravich Trust, with or without cause. The Ravich Trust shall have the
right to call a special meeting of Shareholders at any time, and from time to
time, for the sole purpose of removing from the Board of the Company, with or
without cause, any person nominated by the Ravich Trust for election as a
director, and in such event, the Shareholders shall vote all of their Shares in
support of such removal and for the election of such replacement as may be
nominated by the Ravich Trust. The Shareholders shall then cause the Company to
remove from the Board of the Company the person so removed and elect as a
director of the Company the person who was elected as a replacement to the Board
by the Ravich Trust.

     Section 2.4 Resignation, etc., of Directors. In the event of the death,
disability, removal or resignation of a Director Nominee (other than the
director designated by the Ravich Trust), the Shareholders shall have the right,
within 30 days after such death, disability, removal or resignation, to name a
successor Director Nominee who shall be appointed by the remaining directors
then in office to serve the unexpired term of such director. Any member of the
Board (other than the director designated by the Ravich Trust) may be removed
upon the affirmative vote of a majority of the holders of the Shares outstanding
which are entitled to vote thereon.

                                      -4-

<PAGE>

     Section 2.5 Directors' Meeting. Immediately upon execution of this
Agreement by all parties hereto, the directors of the Company shall hold a
special meeting to appoint officers of the Company in accordance with Schedule
2.5.

     Section 2.6 Suitability. The qualifications of directors to serve on the
Board is at all times subject to approval by the Colorado Limited Gaming Control
Commission. Members of the Board are subject to the jurisdiction of the Colorado
Limited Gaming Control Commission and may be investigated by the Colorado
Division of Gaming. No person may serve on the Board if he or she is found to be
unsuitable, at any time, by the Colorado Limited Gaming Control Commission. Any
director who is not found to be suitable by the Colorado Limited Gaming Control
Commission on or prior to August 14, 2001 shall be removed.

                                   ARTICLE III
                            COVENANTS OF THE PARTIES

     Section 3.1 Access to Information. Until the date on which a Shareholder's
Beneficial Ownership of Shares falls below 1% of the Shares on a Fully Diluted
Basis, at any time during regular business hours and as often as reasonably
requested of the Company's officers, the Company shall permit such Shareholder
or any of its authorized employees, agents or representatives, to examine and
make copies and abstracts from the records and books of account of, and to visit
the properties of, the Company and to discuss the affairs, finances, and
accounts of the Company with any of its officers or directors and the Company
will make its officers, directors and agents available for such purpose;
provided, that all costs and expenses of such inspection shall be borne by such
Shareholder; and provided, further, that such Shareholder shall keep such
information confidential, except that such Shareholder may disclose such
information to its employees and advisors as necessary in the management and
operation of such Shareholder's business and investment in the Company and that
such Shareholder may disclose such information as required by law.

     Section 3.2 Information. The Company shall provide to each Shareholder a
quarterly report of the affairs of the Company within 45 days after the end of
each calendar quarter (other than the fourth quarter of each year) and shall
provide to each such Shareholder an audited annual report within 90 days after
the end of each year, such reports to contain financial information prepared in
accordance with generally accepted accounting principles consistently applied.

     Section 3.3 Non-Interference. The Company shall not enter into any
agreement or arrangement with any person which shall impede or impair the rights
granted to any Shareholder in this Agreement in any manner; provided, however,
that the Shareholders acknowledge and agree that any right to payment of
dividends on the Shares shall be subject to the provisions of the Indenture,
dated March 14, 2000, between the Company and SunTrust Bank as trustee.

                                      -5-

<PAGE>

     Section 3.4 Restrictions on Transfer.

     (a) Except as provided in Section 3.5 below with respect to Permitted
Transferees (defined below), and except as provided in the Company's Articles of
Incorporation, including, without limitation, Section 7 thereof, or required by
law, including, without limitation, any gaming law, each of the Shareholders
severally agrees that it will not, directly or indirectly, offer, sell, contract
to sell or otherwise dispose of (or announce any offer, sale, contract of sale
or other disposition of) ("Transfer") any Shares to a third party unless (a)
such Shareholder agrees to notify the remaining Shareholders and the Company,
(b) such Transferring Shareholder agrees to follow the procedure for purchase of
the Shares set forth in Section 3.5, (c) the proposed Transfer has been approved
in writing by holders of a majority of the issued and outstanding Shares, and
(d) the transferee(s) of such Shares prior to any such Transfer shall have
agreed in writing to be bound by the provisions of this Agreement, as evidenced
by such transferee(s)' execution of a counterpart signature page hereto. With
respect to all Transfers of Shares, no Shareholder may Transfer Shares without
prior written approval of the Colorado Division of Gaming, and any attempt to
Transfer Shares without such approval is void.

     (b) Notwithstanding any other provisions in this Agreement to the contrary,
each Shareholder acknowledges that such Shareholder may not transfer Shares to
any person other than a Qualified Purchaser (as such term is defined in the
Company's Articles of Incorporation) or the Company, if the Company has issued
to such Shareholder a Call Notice relating to a Suitability Problem (as such
term is defined in the Company's Articles of Incorporation) as set forth more
fully in the Company's Articles of Incorporation. Any Transfer of Shares made by
a Shareholder after its receipt of a Call Notice to a Qualified Purchaser
approved by the Company shall not be subject to the restrictions on transfer set
forth in this Agreement, including, without limitation, the restrictions set
forth in Section 3.4(a) and Section 3.5.

     Section 3.5 Third-Party Offers.

     (a) Any Shareholder (a "Transferring Shareholder") may at any time Transfer
any of its Shares pursuant to a bona fide offer (a "Third-Party Offer") in
writing signed by the person or entity to whom the Transfer is to be made, which
Third-Party Offer shall identify the offeror and fully set forth the terms and
conditions of such Third-Party Offer; provided, however, that such Transferring
Shareholder first shall offer such Shares in writing (the "Transferring
Shareholder's Offer") to the other Shareholders of the Company (collectively,
the "Remaining Shareholders") and then to the Company, in that order, for the
same price and on the same terms as were set forth in the Third-Party Offer. The
right to receive the Transferring Shareholder's Offer may be waived in writing
by any of the Remaining Shareholders or by the Company. The Transferring
Shareholder's Offer shall be accompanied by a copy of the Third Party Offer and
shall be irrevocable and remain in effect for a 30-day period, unless sooner
terminated by the agreement of the Remaining Shareholders and the Company or as
otherwise provided in this Agreement.

                                      -6-

<PAGE>

     (b) Unless the Transferring Shareholder's Offer is sooner rejected by the
Remaining Shareholders, the Remaining Shareholders shall have the exclusive
right, but not the obligation, to purchase the Shares offered on a pro rata
basis in accordance with their respective ownership interests in the Company, by
accepting the Transferring Shareholder's Offer within a 30-day period (the
"Remaining Shareholders' Option Period") beginning on the date of the
Transferring Shareholder's offer. The Remaining Shareholders may accept the
Transferring Shareholder's Offer by sending a written notice to the Transferring
Shareholder on or before the end of the Remaining Shareholders' Option Period,
specifying the number of Shares which such Remaining Shareholder proposes to
purchase. If any Remaining Shareholder elects not to exercise such option with
respect to any or all of the Transferring Shareholder's Shares which it is
entitled to purchase, each of the other Remaining Shareholders may elect to
purchase such Shares in the manner provided in this subsection (b). Failure by
any Remaining Shareholder to give such notice within such time period shall be
deemed an election by it not to exercise its option.

     (c) If the Remaining Shareholders fail to exercise such option with respect
to any or all of the Shares proposed to be transferred, the Company shall
thereupon have the option, but not the obligation, to purchase, for the same
price and on the same terms as set forth in the Third Party Offer, that portion
of the Transferring Shareholder's Shares as to which the Remaining Shareholders
have not exercised their option. Within 30 days after the Remaining
Shareholders' notice or within 60 days after the Transferring Shareholder's
Offer, the Company shall give written notice to the Transferring Shareholder and
the Remaining Shareholders stating whether or not it elects to exercise its
option and the number of Shares, if any, which it elects to purchase.

     (d) If the Remaining Shareholders and the Company reject or fail to timely
accept the Transferring Shareholder's Offer within the time periods set forth
above, then subject to Section 3.4(a), the Transferring Shareholder may transfer
its Shares during the 30-day period following the earlier of the rejection of
the Transferring Shareholder's Offer by the Remaining Shareholders and the
Company or the expiration of the Transferring Shareholder's Offer without
acceptance by any offerees, but only strictly in accordance with the terms and
conditions of the Third-Party Offer and only to the person or entity which made
the Third-Party Offer. If the Transferring Shareholder does not Transfer its
Shares during such 30-day period in accordance with this Section 3.5, then the
Transferring Shareholder must re-offer its Shares pursuant to this Section 3.5
in the same manner as upon its initial receipt of the Third-Party Offer.

     (e) Notwithstanding any other provision in this Agreement to the contrary,
this Section 3.5 shall not apply to any Transfer of Shares made by a Shareholder
due to such Shareholder's receipt of a Call Notice from the Company because of a
Suitability Problem.

                                      -7-

<PAGE>

     Section 3.6 Permitted Transfers. The restrictions contained in Section
3.4(a) and Section 3.5 will not apply with respect to any Transfer (a) by a
Shareholder pursuant to applicable laws of descent and distribution, (b) by an
individual Shareholder to such Shareholder's spouse and descendants (whether
natural or adopted) and any trust for the benefit of the Shareholder and/or such
Shareholder's spouse and/or descendants, or any entity controlled (directly or
indirectly) by any such person, employees, affiliates or affiliates' employees
(c) by a Shareholder that is a partnership, to such Shareholder's general and
limited partners, (d) by a Shareholder that is a trust, to the beneficiaries of
such Shareholder; provided that the restrictions contained in Section 3.4(a)
shall continue to be applicable to the Shares after any such Transfer, (e) by a
beneficiary of any Shareholder that is a trust, to such beneficiary's spouse and
descendants (whether natural or adopted) and any trust for the benefit of him or
her and/or his or her spouse and/or descendants or any entity controlled
(directly or indirectly) by any such person, employees, affiliates or
affiliates' employees, or pursuant to applicable laws of descent and
distribution with respect to such beneficiary, (f) by a corporate Shareholder,
to such Shareholder's employees, affiliates or affiliates' employees, (g) by any
Shareholder to one or more other Shareholders and/or their Affiliates, and (h)
set forth on Schedule B hereto; and provided, further, that, with respect to
Transfers of Shares pursuant to clauses (a) through (h) above, the transferees
of such Shares (each such transferee a "Permitted Transferee") (x) prior to any
such Transfer shall have agreed in writing to be bound by the provisions of this
Agreement, as evidenced by each such transferees' execution of a counterpart
signature page hereto (to the extent such Permitted Transferee is not already a
party to this Agreement or has not already agreed to be bound by the provisions
of this Agreement, as evidenced by a counterpart signature hereto), and (y)
Transfer of stock shall require the prior approval of the Colorado Division of
Gaming, and shall be void and any attempted Transfer shall be void absent
Colorado Division of Gaming approval.

     Section 3.7 Rights of Subsequent Holder. Subject to the restrictions set
forth in Section 3.4(a) and Section 3.5 and elsewhere in this Agreement, any
subsequent holder of Shares shall be entitled to all benefits hereunder as a
holder of such Shares.

     Section 3.8 Value of Real Property. Each Shareholder, by its execution of
this Agreement, hereby agrees that the value of the real property contributed by
Windsor Woodmont, LLC to the Company has a value of $33,500,000.

     Section 3.9 Tag-Along Rights.

     (a) In the event of any proposed Transfer of Shares by any of the
Shareholders in any transaction, or a series of related transactions involving
Shares aggregating at least 15% of the total Shares then collectively owned by
the Shareholders to a Person (such other Person being hereinafter referred to as
the "Proposed Purchaser"), other than pursuant to a Permitted Transfer, each
Warrant Holder shall have the right to require the Shareholders to cause the
Proposed Purchaser to purchase from each of them a number of Warrant Shares
owned by such Warrant Holder equal to (1) the total number of Shares to be sold
by the Shareholders to the Proposed Purchaser (collectively, the "Transfer
Interests"), multiplied by (2) a fraction, the numerator of which is the number

                                      -8-

<PAGE>

of Warrant Shares owned by such Warrant Holder, and the denominator of which is
the total number of Shares owned by the Shareholders and Warrant Shares owned by
the Warrant Holders. Any Warrant Shares purchased from the Warrant Holders
pursuant to this provision shall be paid for at the same price per Share and
upon the same terms and conditions of such proposed transfer by such
Shareholders; provided, that the price to be paid by the Proposed Purchaser
shall equal the price proposed to be paid per Warrant Share less the exercise
price of the Warrant. The Company or the Shareholder proposing to engage in such
Transfer shall notify, or cause to be notified, each Warrant Holder in writing
of each such proposed Transfer at least 15 days prior to the date thereof. Such
notice shall set forth (1) the name of the Proposed Purchaser and the number of
Shares proposed to be transferred, (2) the name and address of the Proposed
Purchaser; (3) the proposed amount of consideration and terms and conditions of
payment offered by such Proposed Purchaser (if the proposed consideration is not
cash, the notice shall describe the terms of the proposed consideration), and
(4) that either the Proposed Purchaser has been informed of the "Tag-Along
Right" and has agreed to purchase Warrant Shares in accordance with the terms of
this Agreement or that the selling Shareholders will make such purchase.

     (b) The Tag-Along Rights may be exercised by any Warrant Holder by delivery
of a written notice to the Company (the "Tag-Along Notice"), within five days
following his receipt from the Company of the notice specified in the preceding
paragraph. The Tag-Along Notice shall state the number of Warrant Shares that
such Warrant Holder proposes to include in such Transfer to the Proposed
Purchaser determined as aforesaid. Failure to provide a Tag-Along Notice within
the five-day notice period shall be deemed to constitute an election by such
Warrant Holder not to exercise its Tag-Along Rights.

     (c) In the event that the Proposed Purchaser does not purchase Warrant
Shares from the Warrant Holders on the same terms and conditions as purchased
from the Shareholders, then the Shareholders making such Transfer shall purchase
such Warrant Shares if the Transfer occurs.

     (d) Tag-Along Rights shall terminate upon the effectiveness of any
registration statement filed with the SEC with respect to the Shares in an
initial public equity offering or subsequent public equity offering if, after
giving effect so such offering, at least 50% of the Fully Diluted Number of
Shares would be held by Persons unaffiliated with the Company and without
restriction on transfer under the Securities Act.

     Section 3.10 Drag-Along Rights.

     (a) In the event of any proposed Transfer of Shares for value by any of the
Shareholders in any transaction, or a series of related transactions, involving
Shares aggregating at least 51% of the Fully Diluted Number of Shares to any
other Person who is a bona fide third party purchaser (such other Person being
hereinafter referred to as the "Proposed Purchaser"), other than pursuant to an
Permitted Transfer, the Shareholders shall have the right to require each
Warrant Holder to transfer to the Proposed Purchaser a number of Warrant Shares
owned by such Warrant Holder equal to (1) the total number of Shares (including

                                      -9-

<PAGE>

the number of Warrant Shares) owned by such Warrant Holder, multiplied by (2) a
fraction, the numerator of which is the number of Shares to be sold by the
Shareholders to the Proposed Purchaser and the denominator of which is the total
number of Shares then owned by the Shareholders. Any Warrant Shares purchased
from Warrant Holders pursuant to this provision shall be paid for at the same
price per Share and upon the same terms and conditions of such proposed Transfer
by such Shareholders; provided, that the price to be paid by the Proposed
Purchaser shall equal the price proposed to be paid per Warrant Share less the
exercise price of the Warrant. The Company or the Shareholder proposing to
engage in such Transfer shall notify, or cause to be notified, each Warrant
Holder in writing of each such proposed Transfer at least 15 days prior to the
date thereof. Such notice shall set forth (1) the name of the Proposed Purchaser
and the number of Shares proposed to be transferred, (2) the name and address of
the Proposed Purchaser, (3) the proposed amount of consideration and terms and
conditions of payment offered by such Proposed Purchaser (if the proposed
consideration is not cash, the notice shall describe the terms of the proposed
consideration) and (4) that the Proposed Purchaser has been informed of the
"Drag-Along Right" and has agreed to purchase the Warrant Shares in accordance
with the terms of this Agreement, or that the selling Shareholders will make
such purchase.

     (b) In the event that the Proposed Purchaser does not purchase Warrant
Shares from Warrant Holders on the same terms and conditions as purchased from
the Shareholders, then the Shareholders making such Transfer shall purchase such
Warrant Shares if the Transfer occurs.

     (c) Drag-Along Rights shall terminate upon the effectiveness of any
registration statement filed with the SEC with respect to the Shares in an
initial public equity offering or subsequent public equity offering if, after
giving effect to such offering, at least 50% of the Fully Diluted Number of
Shares would be held by Persons unaffiliated with the Company and without
restriction on transfer under the Securities Act.

                                   ARTICLE IV
                                  MISCELLANEOUS

     Section 4.1 Termination. In the event that any Shareholder shall be in
default of its obligations hereunder and any such default shall continue for a
period of 30 days after any other Shareholder or the Company has given written
notice thereof to such defaulting party, then the rights (but not the
obligations) under this Agreement of such defaulting party shall terminate.

     Section 4.2 Beneficial Ownership. The Shareholders shall promptly hereafter
notify the Company of their respective initial percentages of Beneficial
Ownership of Shares and immediately notify the Company of any changes thereto
and the Company shall be entitled to rely upon such notices without incurring
any liability to any other party hereunder. Each Shareholder shall respond
promptly to any request made by the Company to provide or confirm Beneficial
Ownership of Shares.

                                      -10-

<PAGE>

     Section 4.3 Acknowledgments.

     (a) Each of the parties hereto acknowledges that the restrictions,
prohibitions and other provisions hereof are reasonable, fair and equitable in
scope, terms and duration, are necessary to protect the legitimate business
interests of each of the other parties hereto, and are a material inducement to
such party to enter into the transactions contemplated by this Agreement.

     (b) Each of the parties hereto acknowledges that the obligations undertaken
by it pursuant to this Agreement are unique and that the other parties hereto
will not have an adequate remedy at law if it shall fail to perform any of its
obligations hereunder, and each of the parties hereto therefore confirms that
the right of each other party hereto to specific performance of the terms of
this Agreement is essential to protect the rights and interests of such party.
Accordingly, in addition to any other remedies that any party hereto may have at
law or in equity, each such party shall have the right to have all obligations,
covenants, agreements and other provisions of this Agreement specifically
performed by each other party hereto, and each party shall have the right to
obtain preliminary and permanent injunctive relief (without posting any bond or
other security) to secure specific performance and to prevent a breach or
contemplated breach of this Agreement by each other party hereto.

     (c) If performance of any provision of this Agreement, at the time such
performance shall be due, shall transcend the limit of validity prescribed by
law, then the obligation to be performed shall be reduced to the limit of such
validity; and if any clause or provision contained in this Agreement operates or
would operate to invalidate this Agreement, in whole or in part, then such
clause or provision only shall be held ineffective, as though not herein
contained, and the remainder of this Agreement shall remain operative and in
full force and effect. The parties shall negotiate in good faith a replacement
clause or provision as consistent with the ineffective clause or provision as is
practicable under law.

     (d) Each of the parties acknowledges that a Shareholder may not transfer
any Shares except in strict accordance with the terms of this Agreement and that
any Transfer requires the prior written approval of the Colorado Division of
Gaming. Shareholder further acknowledges that Shareholder is aware that the
Colorado Division of Gaming or the Colorado Limited Gaming Control Commission
may require the Shareholder to apply for a suitability determination with the
Colorado Limited Gaming Control Commission.

     Section 4.4 Expenses. Except as otherwise specifically provided in this
Agreement, each party hereto shall bear its own costs and expenses with respect
to the transactions contemplated hereby.

     Section 4.5 Amendment. This Agreement may be amended, modified or
supplemented but only in writing signed by each of the parties hereto.

                                      -11-

<PAGE>

     Section 4.6 Notices. Any notice, request, instruction or other document to
be given hereunder shall be in writing and shall be deemed to have been given
(a) when received if given in person or by courier or a courier service, (b) on
the date of transmission if sent by facsimile or other wire transmission or (c)
three business days (seven business days for overseas mail) after being
deposited in the U.S. mail, certified or registered mail, postage prepaid,
addressed (i) in the case of the Company, at 4144 North Central Expressway,
Suite 1200, Dallas, Texas 75204, and (ii) in the case of the Shareholders, as
specified on Schedule A, or to such other individual or address as a party
hereto may designate for itself by notice given as herein provided.

     Section 4.7 Waivers. The failure of a party hereto at any time or times to
require performance of any provision hereof shall in no manner affect its right
at a later time to enforce the same. No waiver by a party of any condition or of
any breach of any term, covenant, representation or warranty contained in this
Agreement shall be effective unless in writing, and no waiver in any one or more
instances shall be deemed to be a further or continuing waiver of any such
condition or breach in other instances or a waiver of any other condition or
breach of any other term, covenant, representation or warranty.

     Section 4.8 Counterparts. This Agreement may be executed in counterparts,
each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument.

     Section 4.9 Interpretation. To the extent that any provision of this
Agreement is more restrictive than the Company's Bylaws, the provision of this
Agreement shall govern. The headings preceding the text of Articles and Sections
included in this Agreement and the headings to Exhibits and Schedules attached
to this Agreement are for convenience only and shall not be deemed part of this
Agreement or be given any effect in interpreting this Agreement. The use of the
masculine, feminine or neuter gender herein shall not limit any provision of
this Agreement. The use of the terms "including" or "include" shall in all cases
herein mean "including, without limitation" or "include, without limitation,"
respectively. Underscored references to Articles, Sections, Subsections,
Exhibits or Schedules shall refer to those portions of this Agreement.

     Section 4.10 Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF COLORADO, WITHOUT REGARD
TO THE PRINCIPLES OF CONFLICTS OF LAWS.

     Section 4.11 Assignment. This Agreement shall be binding upon and inure to
the benefit of the parties hereto and their respective successors and assigns.
Notwithstanding the foregoing, except as otherwise specifically provided in this
Agreement, no assignment of any rights or obligations shall be made by any party
without the written consent of the other parties. In the case of any assignment
permitted under this Section 4.11, the Company agrees to execute any necessary
or appropriate documents to acknowledge and effect any such assignment.

                                      -12-

<PAGE>

     Section 4.12 No Third Party Beneficiaries. This Agreement is solely for the
benefit of the parties hereto and no provision of this Agreement shall be deemed
to confer upon other third parties any remedy, claim, liability, reimbursement,
cause of action or other right.

     Section 4.13 Remedies Cumulative. The remedies provided in this Agreement
shall be cumulative and shall not preclude the assertion or exercise of any
other rights or remedies available by law, in equity or otherwise.

     Section 4.14 Entire Understanding. This Agreement sets forth the entire
agreement and understanding of the parties hereto with respect to the matters
set forth herein and supersedes any and all prior agreements, arrangements and
understandings among the parties.

     Section 4.15 Waiver of Jury Trial. TO THE EXTENT PERMITTED BY APPLICABLE
LAW, THE PARTIES HEREBY IRREVOCABLY WAIVE ANY AND ALL RIGHT TO TRIAL BY JURY IN
ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE
TRANSACTIONS CONTEMPLATED HEREBY.

     Section 4.16 No Presumption Against Drafter. Each of the parties hereto has
jointly participated in the negotiation and drafting of this Agreement. In the
event of any ambiguity or a question of intent or interpretation arises, this
Agreement shall be construed as if drafted jointly by each of the parties hereto
and no presumptions or burdens of proof shall arise favoring any party by virtue
of the authorship of any of the provisions of this Agreement.

     Section 4.17 Forum Selection and Consent to Jurisdiction. EACH OF THE
COMPANY, AND THE SHAREHOLDERS AGREE THAT ANY LITIGATION BASED HEREON, OR ARISING
OUT OF, UNDER, OR IN CONNECTION WITH THIS AGREEMENT BETWEEN OR AMONG SUCH
PARTIES, SHALL BE BROUGHT AND MAINTAINED EXCLUSIVELY IN THE COURTS OF THE STATE
OF COLORADO OR IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF COLORADO.
EACH OF THE COMPANY, AND THE SHAREHOLDERS HEREBY EXPRESSLY AND IRREVOCABLY
SUBMITS TO THE JURISDICTION OF THE COURTS OF THE STATE OF COLORADO AND OF THE
UNITED STATES DISTRICT COURT FOR THE DISTRICT OF COLORADO FOR THE PURPOSE OF ANY
SUCH LITIGATION AS SET FORTH ABOVE. EACH OF THE COMPANY AND THE SHAREHOLDERS
HEREBY EXPRESSLY AND IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW,
ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY
SUCH LITIGATION BROUGHT IN ANY SUCH COURT REFERRED TO ABOVE AND ANY CLAIM THAT
ANY SUCH LITIGATION HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.

                                      * * *

                                      -13-

<PAGE>

     IN WITNESS WHEREOF, the undersigned have caused this Agreement to be
executed and delivered as of the date first above written.

                                           WINDSOR WOODMONT BLACK HAWK
                                            RESORT CORP.

                                           By:
                                                --------------------------------
                                           Name:
                                           Title:

                                           By:
                                                --------------------------------
                                           Name:
                                           Title:

                                           SHAREHOLDERS:

                                      -14-

<PAGE>

<TABLE>
<CAPTION>

                                   Schedule A

                                  SHAREHOLDERS

                                                                                 Number of Shares
Name                                     Address                                 Subscribed For
----                                     -------                                 --------------
<S>                                      <C>                                     <C>
Maureen Connolly Brinker,                9410 Alva Ct.                           60,606
   Deceased Trust                        Dallas, TX  75220
W. Daniel Johnson                        4132 South Rainbow Blvd.                20,000
                                         #385
                                         Las Vegas, NV  89103
Larry Elins                              15260 Ventura Blvd.                     54,545
                                         Suite #1020
                                         Sherman Oaks, CA  91403
Charles R. Lewis                         3817 Diamond Ct. West                   18,182
                                         Fort Worth, TX  76180
Israel Espinoza                          13420 Winterhaven Dr.                   6,061
                                         Dallas, TX  75234
Robert E. Martin                         6047 Nieway Rd.                         32,121
                                         Dallas, TX  75230
John M. Martin                           5752 Beekshire                          32,121
                                         Dallas, TX  75209
Robert W. Martin                         M4 Products                             32,121
                                         2520 Merrell Rd.
                                         Dallas, TX  75229
Normandy, Inc.                           3811 Turtle Creek Blvd.                 159,290
                                         Suite 250
                                         Dallas, TX  75205
Dauderman Living Trust                   3 Hillsboro                             78,792
         Dated March 15, 1994            Newport Beach, CA  92660
Patricia Deal                            3709 Lexington Ave.                     95,802
                                         Dallas, TX  75205
Colorado Five, Ltd.                      Folsom Properties                       30,303
                                         16475  Dallas Parkway
                                         Suite 900
                                         Addison, TX  75001
Daniel P. Robinowitz                     Windsor Woodmont, LLC                   27,500
                                         2231 Valdina Street
                                         Dallas, TX 75207
DPR 1992 Trust                           c/o Windsor Woodmont, LLC               26,693
                                         2231 Valdina Street
                                         Dallas, TX 75207

<PAGE>

Cordell Consultants Money Purchase Plan  3333 Poincianna Avenue                  5,000
                                         Coconut Grove, FL 33133
Windsor Woodmont, LLC                    2231 Valdina Street                     107,500
                                         Dallas, TX 75207
APR 21st Century Trust                   c/o Donald J. Malouf                    83,290
                                         8115 Preston Rd., Suite 600
                                         Dallas, TX 75225
AMR 21st Century Trust                   c/o Donald J. Malouf                    83,290
                                         8115 Preston Rd., Suite 600
                                         Dallas, TX 75225
Paul Steelman                                                                    46,783

</TABLE>

<PAGE>

                                  Schedule 2.5

                             Officers of the Company

    Name                             Title
    ----                             -----

    Daniel P. Robinowitz             President and Chief Executive Officer

    Michael L. Armstrong             Executive Vice President, Chief Financial
                                     Officer and Secretary

    Timothy G. Rose                  Executive Vice President, Development

<PAGE>

                                  Schedule 3.6

                         ADDITIONAL PERMITTED TRANSFERS

1.   Transfers pursuant to the Stock Purchase Agreement, dated as of March 14,
     2000, by and between Normandy, Inc. and the APR 21st Century Trust.

2.   Transfers pursuant to the Stock Purchase Agreement, dated as of March 14,
     2000, by and between Normandy, Inc. and the AMR 21st Century Trust.

3.   Transfers pursuant to the Stock Purchase Agreement, dated as of March 14,
     2000, by and between the DPR 1992 Trust and the APR 21st Century Trust.

4.   Transfers pursuant to the Stock Purchase Agreement, dated as of March 14,
     2000, by and between the DPR 1992 Trust and the AMR 21st Century Trust.

5.   Transfers pursuant to the Stock Purchase Agreement, dated as of March 14,
     2000, by and between the DPR 1992 Trust and Cordell Consultants Money
     Purchase Plan.

6.   Transfers by Windsor Woodmont, LLC of Shares held by Windsor Woodmont, LLC
     for the benefit of certain of its employees and others who have provided
     services for the benefit of Windsor Woodmont, LLC who hold options to
     acquire such Shares.

7.   Transfers by Normandy, Inc. of up to 46,000 Shares.

<PAGE>

                                    Exhibit A

              First Amended and Restated Articles of Incorporation

<PAGE>

                                    Exhibit B

                        FIRST Amended and Restated BylawsExhibit 10.25

--------------------------------------------------------------------------------
                               Northcreek Place II
                              12160 N. Abrams Road
                                    Suite 516
                               Dallas, Texas 75243
--------------------------------------------------------------------------------

                                  OFFICE LEASE

                                     Between

                          DALLAS OFFICE PORTFOLIO, L.P.

                                   as Landlord

                                       and

                    WINDSOR WOODMONT BLACK HAWK RESORT CORP.

                                    as Tenant

<PAGE>

                                TABLE OF CONTENTS

                                                                            Page

Paragraph  1.  DEFINITIONS AND BASIC PROVISIONS................................1

Paragraph  2.  GRANTING CLAUSE.................................................2

Paragraph  3.  EARLY OCCUPANCY.................................................2

Paragraph  4.  RENTAL..........................................................2

Paragraph  5.  USE.............................................................2

Paragraph  6.  SERVICES TO BE PROVIDED BY LANDLORD.............................2

Paragraph  7.  REPAIR AND MAINTENANCE..........................................3

Paragraph  8.  FIRE OR OTHER CASUALTY..........................................3

Paragraph  9.  COMPLIANCE WITH LAWS AND USAGE..................................3

Paragraph 10.  LIABILITY AND INDEMNITY.........................................4

Paragraph 11.  ADDITIONS AND FIXTURES..........................................4

Paragraph 12.  ASSIGNMENT AND SUBLETTING.......................................4

Paragraph 13.  SUBORDINATION...................................................5

Paragraph 14.  OPERATING EXPENSES..............................................5

Paragraph 15.  EMINENT DOMAIN..................................................7

Paragraph 16.  ACCESS BY LANDLORD..............................................7

Paragraph 17.  LANDLORD'S LIEN.................................................8

Paragraph 18.  DEFAULTS........................................................8

Paragraph 19.  NONWAIVER......................................................10

Paragraph 20.  HOLDING OVER...................................................10

Paragraph 21.  COMMON AREA....................................................10

Paragraph 22.  RULES AND REGULATIONS..........................................10

Paragraph 23.  TAXES..........................................................10

Paragraph 24.  INSURANCE......................................................10

Paragraph 25.  PERSONAL LIABILITY.............................................10

Paragraph 26.  NOTICE.........................................................10

Paragraph 27.  LANDLORD'S MORTGAGE............................................11

Paragraph 28.  BROKERAGE......................................................11

Paragraph 29.  PREPAID RENTAL AND SECURITY DEPOSIT............................11

Paragraph 30.  MISCELLANEOUS..................................................11

Paragraph 31.  ENTIRE AGREEMENT AND BINDING EFFECT............................13

EXHIBIT A      LEASED PREMISES

EXHIBIT B      LAND

EXHIBIT C      RULES AND REGULATIONS

EXHIBIT D      PARKING

EXHIBIT E      WORK LETTER

<PAGE>

                             OFFICE LEASE AGREEMENT

     1.  DEFINITIONS AND BASIC PROVISIONS.
         --------------------------------

           A.    "Landlord":            Dallas Office Portfolio, L.P.,
                                        a Delaware limited partnership

           B.    Address of Landlord:
                                        c/o Transwestern Property Company
                                        12221 Merit Drive
                                        Suite 450
                                        Dallas, Texas  75251

                 With a copy to:        Beacon Capital Partners, Inc.
                                        One Federal Street
                                        26th floor
                                        Boston, MA  02110

           C.    "Tenant":              Windsor Woodmont Black Hawk Resort Corp.
                                        ----------------------------------------

           D.    Address of Tenant:
                                        12160 N. Abrams Road
                                        Suite  516
                                        Dallas, Texas  75243

           E. "Building": The structure commonly known as Northcreek Place II
and which is located at 12160 N. Abrams Road in the City of Dallas, Dallas
County, Texas, on the tract of land (the "Land") described by metes and bounds
on Exhibit B attached hereto and made a part hereof for all purposes.

           F. "Leased Premises": Approximately 838 square feet of rentable area
on the fifth (5th) floor of the Building, as outlined and hatched on the floor
plan attached hereto as Exhibit A and made a part hereof for all purposes.
Landlord and Tenant hereby stipulate that notwithstanding anything herein to the
contrary, the Leased Premises shall be deemed to consist of 838 rentable square
feet, and that no shortage or overage in the rentable square feet of the Leased
Premises purported by either party shall be the basis for changing the number of
rentable square feet herein stipulated.

           G. "Rentable area in the Project" shall be 166,508 square feet of
rentable area, unless modified as provided herein.

           H. "Commencement Date": May 15, 2000, or the date upon which Tenant
occupies the Leased Premises with the prior written consent of Landlord,
whichever shall first occur. Upon request of either party hereto, Landlord and
Tenant agree to execute and deliver a written declaration in recordable form
expressing the Commencement Date hereof.

           I. "Term": Commencing on the Commencement Date and ending two (2)
years and zero (-0-) months after the Commencement Date, plus any partial
calendar month following the Commencement Date, unless sooner terminated as
provided herein.

           J. "Base Rental" $15,921.96 per year for the first two (2) years of
the Term of this Lease, payable in equal monthly installments of $1,326.83 each;
each such monthly installment shall be due and payable on the first day of each
calendar month, monthly in advance without demand and without setoff or
deduction whatsoever.

           K. "Prepaid Rental": $1,326.83, to be applied to the first accruing
monthly installments of rental.

           L. "Security Deposit": $1,326.83.

           M. "Permitted Use": The Leased Premises shall be used only for office
purposes.

           N. "Common Area": That part of the Building and other improvements
now or hereafter placed, constructed or erected on the land on which the
Building is located (the "Land") designated by Landlord from time to time for
the common use of all tenants, including among other facilities, sidewalks,
service corridors, curbs, truckways, loading areas, private streets and alleys,
lighting facilities, mechanical and electrical rooms, janitors' closets, halls,
lobbies, delivery passages, elevators, drinking fountains, meeting rooms, public
toilets, parking areas and garages, decks and other parking facilities,
landscaping and other common rooms and common facilities.

           O. "Prime Rate": "Prime Rate": The rate published as such by The Wall
Street Journal, Southwest Edition, (or its successor or assign) in its listing
of "Money Rates".

                                      -1-

<PAGE>

           P. "Broker": Denise Rachal - Transwestern Commercial Services,
Landlord's Agent.

           Q. "Base Operating Expenses Rate": The Actual Operating Expenses Rate
for the 2000 calendar year.

           Each of the foregoing definitions and basic provisions shall be
construed in conjunction with the references thereto contained in the other
provisions of this Lease and shall be limited by such other provisions. Each
reference in this Lease to any of the foregoing definitions and basic provisions
shall be construed to incorporate each term set forth above under such
definition or provision.

           2. GRANTING CLAUSE. Landlord, in consideration of the covenants and
agreements to be performed by Tenant and upon the terms and conditions
hereinafter stated, does hereby lease, demise and let unto Tenant, and Tenant
does hereby lease from Landlord, the Leased Premises specified in Paragraph 1.F.
hereof to have and to hold for the Term of this Lease, as specified in Paragraph
1.I. hereof.

           3. EARLY OCCUPANCY. Any occupancy of the Leased Premises by Tenant
prior to the Commencement Date shall be subject to all of the terms and
provisions of this Lease excepting only those requiring the payment of rental
and other charges.

           If this Lease is executed before the Leased Premises becomes vacant,
or if any present tenant or occupant of the Leased Premises holds over and
Landlord cannot acquire possession thereof prior to the Commencement Date, then
Landlord shall not be deemed in default hereunder, and Tenant agrees to accept
possession of the Leased Premises at such time as Landlord is able to tender the
same and, in such event, the date of such tender by Landlord shall be deemed to
be the Commencement Date, and Landlord hereby waives the payment of rental and
other charges covering any period prior to the date of such tender.

           4. RENTAL. As rental for the lease and use of the Leased Premises,
Tenant will pay Landlord or Landlord's assigns, at the address of Landlord
specified in Paragraph 1.B. hereof, without demand and without deduction,
abatement or setoff (except as otherwise expressly provided for herein in
Paragraph 8 hereof and Paragraph 15 hereof), the Base Rental in the manner
specified in Paragraph 1.J. hereof, in lawful money of the United States. If the
Term of this Lease does not commence on the first day of a calendar month,
Tenant shall pay to Landlord in advance a pro rata part of such sum as rental
for such first partial month. Tenant shall not pay any installment of rental
more than one (1) month in advance. All past due installments of rental or other
payment specified herein shall bear interest at the highest lawful rate per
annum from the date due until paid.

           If Tenant fails to timely pay two (2) consecutive installments of
Base Rental, or other payment specified herein, or any combination thereof,
Landlord may require Tenant to pay (in addition to any interest) Base Rental and
other payments specified herein (as estimated by Landlord, if necessary)
quarterly in advance, and, in such event, all future payments shall be made on
or before the due date in cash or by cashier's check or money order, and the
delivery of Tenant's personal or corporate check shall no longer constitute
payment thereof. Any acceptance of Tenant's personal or corporate check
thereafter by Landlord shall not be construed as a waiver of the requirement
that such payments be made in cash or by cashier's check or money order. Any
amount so estimated by Landlord and paid by Tenant shall be adjusted promptly
after actual figures become available and paid or credited to Landlord or
Tenant, as the case may be.

           5. USE. Tenant shall use the Leased Premises solely for the Permitted
Use specified in Paragraph 1.M. hereof and for no other business or purpose
without the prior written consent of Landlord. Tenant shall maintain throughout
the Term an occupancy ratio within the Leased Premises of no greater than one
person for every 279 rentable square feet leased ("Density Ratio") or _three
people in the Leased Premises at any given point in time. However, Tenant
acknowledges that Tenant's maintenance of a density ratio greater than one
person per 333 rentable square feet in the Leased Premises may result in
Landlord's inability to provide the Building standard temperature range in the
Leased Premises and Landlord shall no liability for such inability. If Tenant
intends to maintain a density ratio greater than the Density Ratio set forth
above, then Tenant must obtain Landlord's prior written approval.

           6. SERVICES TO BE PROVIDED BY LANDLORD.
              -----------------------------------

              A. Subject to the rules and regulations hereinafter referred to,
Landlord shall furnish Tenant, at Landlord's expense, while Tenant is occupying
the Leased Premises and is not in default hereunder, the following services
during the Term of this Lease:

                                      -2-

<PAGE>

              (1) Air conditioning and heating in season, at such times as
Landlord normally furnishes such services to other tenants in the Building, and
at such temperatures and in such amounts as are considered by Landlord to be
standard, but such service on Saturday afternoons, Sundays and holidays to be
furnished only upon the request of Tenant, who shall bear the cost thereof.
Tenant acknowledges that such service and temperature may be subject to change
by local, county, state or federal regulation. Whenever machines or equipment
that generate abnormal heat are used in the Leased Premises which affect the
temperature otherwise maintained by the air conditioning system, Landlord shall
have the right to install supplemental air conditioning in the Leased Premises,
and the cost thereof, including the cost of installation, operation, use and
maintenance, shall be paid by Tenant to Landlord as additional rental upon
demand.

              (2) Water at those points of supply provided for general use.

              (3) Janitor service in and about the Building, and the Leased
Premises, as may in the judgment of Landlord be reasonably required; however,
Tenant shall pay the additional costs attributable to the cleaning of
improvements within the Leased Premises other than building standard
improvements.

              (4) Elevators for ingress to and egress from the Building as may
in the judgment of Landlord be reasonably required. Landlord may reasonably
limit the number of elevators in operation after usual and customary business
hours and on Saturday afternoons, Sundays and legal holidays.

              (5) Proper facilities to furnish sufficient electrical power for
building standard lighting, personal computers and other machines of similar low
electrical consumption, but not including electricity required for electronic
data processing equipment, special lighting in excess of building standard, or
any other item of electrical equipment which singly consumes more than 0.25
kilowatts per hour at rated capacity or requires a voltage other than 120 volts
single phase. Tenant shall pay to Landlord, monthly as billed, such charges as
may be separately metered or as Landlord's engineer may compute for any
above-Building standard electrical service to the Leased Premises. Landlord
shall have the right at any time and from time to time during the Term of this
Lease to install equipment within the Leased Premises for the purpose of
measuring or estimating Tenant's electrical usage therein.

              (6) At Tenant's expense and upon Tenant's request, purchase and
install replacement lamps of types generally commercially available (including,
but not limited to, incandescent and fluorescent) used in the Leased Premises.

              B. No interruption or malfunction of any of such services shall
constitute an eviction or disturbance of Tenant's use and possession of the
Leased Premises or the Building or a breach by Landlord of any of Landlord's
obligations hereunder or render Landlord liable for damages or entitle Tenant to
be relieved from any of Tenant's obligations hereunder (including the obligation
to pay rental) or grant Tenant any right of setoff or recoupment. In the event
of any such interruption, however, Landlord shall use reasonable diligence
during normal business hours to restore such service or cause same to be
restored in any circumstances in which such restoration is within the reasonable
control of Landlord and the interruption was not caused in whole or in part by
Tenant's fault.

           7. REPAIR AND MAINTENANCE.
              ----------------------

              A. Landlord shall, at Landlord's own cost and expense, except as
may be provided elsewhere herein, make necessary repairs of damage to the
Building corridors, lobby, structural members of the Building and equipment used
to provide the services referred to in Paragraph 6 hereof, unless any such
damage is caused in whole or in part by acts or omission of Tenant, or Tenant's
agents, employees or invitees, in which event Tenant shall bear the cost of such
repairs. Tenant shall promptly give Landlord notice of any damage in the Leased
Premises requiring repair by Landlord, as aforesaid.

              B. Tenant shall not in any manner deface or injure the Leased
Premises or the Building but shall maintain the Leased Premises, including,
without limitation, all fixtures installed by Tenant and all plate glass, walls,
carpeting and other floor covering placed or found therein, in a clean,
attractive, first-class condition and in good repair, except as to damage
required to be repaired by Landlord, as provided in Paragraph 7.A. hereof. Upon
the expiration of the Term of this Lease, Tenant shall surrender and deliver up
the Leased Premises with all improvements located thereon (except as provided in
Paragraph 11.B. hereof) to Landlord broom-clean and in the same condition in
which they existed at the commencement of the Lease, excepting only ordinary
wear and tear and damage arising from any cause not required to be repaired by
Tenant, failing which Landlord may restore the Leased Premises to such
condition, and Tenant shall pay the cost thereof.

                                      -3-

<PAGE>

              C. This Paragraph 7 shall not apply in the case of damage or
destruction by fire or other casualty which is covered by insurance maintained
by Landlord on the Building (as to which Paragraph 8 hereof shall apply), or
damage resulting from an eminent domain taking (as to which Paragraph 15 hereof
shall apply).

           8. FIRE AND OTHER CASUALTY.
              -----------------------

              A. If at any time during the Term of this Lease, the Leased
Premises or any portion of the Building shall be damaged or destroyed by fire or
other casualty, then Landlord shall have the election to terminate this Lease or
to repair and reconstruct the Leased Premises and the Building to substantially
the same condition in which they existed immediately prior to such damage or
destruction, except that Landlord shall not be required to rebuild, repair or
replace any part of the partitions, fixtures and other improvements which may
have been installed by Tenant or other tenants within the Building.

              B. In any of the aforesaid circumstances, rental shall abate
proportionately during the period and to the extent that the Leased Premises are
unfit for use by Tenant in the ordinary conduct of Tenant's business. If
Landlord has elected to repair and restore the Leased Premises, this Lease shall
continue in full force and effect and such repairs shall be made within a
reasonable time thereafter, subject to delays arising from shortages of labor or
material, acts of God, war or other conditions beyond Landlord's reasonable
control. In the event that this Lease is terminated as herein permitted,
Landlord shall refund to Tenant the prepaid rental (unaccrued as of the date of
damage or destruction) less any sum then owing Landlord by Tenant. If Landlord
has elected to repair and reconstruct the Leased Premises, then the Term of this
Lease shall be extended by a period of time equal to the period of such repair
and reconstruction. Any insurance which may be carried by Landlord or Tenant
against loss or damage to the Building or to the Leased Premises shall be for
the sole benefit of the party carrying such insurance under its control, and it
is understood that Landlord shall in no event be obligated to carry insurance on
Tenant's contents.

           9. COMPLIANCE WITH LAWS AND USAGE. Tenant, at Tenant's own expense,
(a) shall comply with all federal, state, municipal, fire underwriting and other
laws, ordinances, orders, rules and regulations applicable to the Leased
Premises and the business conducted therein by Tenant, (b) shall not engage in
any activity which would cause Landlord's fire and extended coverage insurance
to be cancelled or the rate therefor to be increased (or, at Landlord's option,
Tenant shall pay any such increase to Landlord immediately upon demand as
additional rental in the event of such rate increase by reason of such
activity), (c) shall not commit, and shall cause Tenant's agents, employees and
invitees not to commit, any act which is a nuisance or annoyance to Landlord or
to other tenants, or which might, in the exclusive judgment of Landlord, damage
Landlord's goodwill or reputation, or tend to injure or depreciate the Building,
(d) shall not commit or permit waste in the Leased Premises or the Building, (e)
shall comply with rules and regulations from time to time promulgated by
Landlord applicable to the Leased Premises and/or the Building, (f) shall not
paint, erect or display any sign, advertisement, placard or lettering which is
visible in the corridors or lobby of the Building or from the exterior of the
Building without Landlord's prior written approval, and (g) shall not occupy or
use, or permit any portion of the Leased Premises to be occupied or used, for
any business or purpose other than the Permitted Use specified in Paragraph 1.M.
hereof. If a controversy arises concerning Tenant's compliance with any federal,
state, municipal or other laws, ordinances, orders, rules or regulations
applicable to the Leased Premises and the business conducted therein by Tenant,
Landlord may retain consultants of recognized standing to investigate Tenant's
compliance. If it is determined that Tenant has not complied as required, Tenant
shall reimburse Landlord on demand for all consulting and other costs incurred
by Landlord in such investigation. Landlord and Tenant acknowledge that, in
accordance with the provisions of the Americans with Disabilities Act of 1990
and the Texas Elimination of Architectural Barriers Act, each as amended from
time to time, and all regulations and guidelines issued by authorized agencies
with respect thereto (collectively, the "ADA" and the "EAB", respectively),
responsibility for compliance with the terms and conditions of Title III of the
ADA and the EAB may be allocated as between Landlord and Tenant. Notwithstanding
anything to the contrary contained in the Lease, Landlord and Tenant agree that
the responsibility for compliance with the ADA and the EAB shall be allocated as
follows: (i) Tenant shall be responsible for compliance with the provisions of
Title III of the ADA and with the provisions of the EAB with respect to the
Leased Premises, including restrooms within the Leased Premises, and (ii)
Landlord shall be responsible for compliance with the provisions of Title III of
the ADA and with the provisions of the EAB with respect to the exterior of the
Building, parking areas, sidewalks and walkways, and any and all areas
appurtenant thereto, together with all common areas of the Building not included
within the Leased Premises. The allocation of responsibility for ADA and EAB
compliance between Landlord and Tenant, and the obligations of Landlord and
Tenant established by such allocations, shall supersede any other provisions of
the Lease that may contradict or otherwise differ from the requirements of this
paragraph.

                                      -4-

<PAGE>

           10. LIABILITY AND INDEMNITY.
               -----------------------

               A. Tenant agrees to indemnify and save Landlord harmless from all
claims (including costs and expenses of defending against such claims) arising
or alleged to arise from any act or omission of Tenant or Tenant's agents,
employees, invitees or contractors, or arising from any injury to any person or
damage to the property of any person occurring during the Term of this Lease in
or about the Leased Premises. Tenant agrees to use and occupy the Leased
Premises and other facilities of the Building at Tenant's own risk and hereby
releases Landlord, Landlord's agents or employees, from all claims for any
damage or injury to the full extent permitted by law, regardless of cause or
origin, including negligence of Landlord, its agents, officers, or employees,
but not including Landlord's gross negligence or wilfull misconduct.

               B. Tenant waives any and all rights of recovery, claim, action,
or cause of action, against Landlord, its agents, officers, or employees, for
any loss or damage that may occur to the Leased Premises, or any improvements
thereto, or the Project, or any improvements thereto, or any personal property
of such party therein, by reason of fire, the elements, or any other cause which
could be insured against under the terms of standard fire and extended coverage
insurance policies, regardless of cause or origin, including negligence of
Landlord, its agents, officers, or employees, but not including Landlord's gross
negligence or wilful misconduct, and Tenant covenants that no insurer shall hold
any right of subrogation against Landlord and all such insurance policies shall
be amended or endorsed to reflect such waiver of subrogation.

               C. Tenant, to the extent permitted by law, waives all claims
Tenant may have against Landlord, and against Landlord's agents and employees
for injury to person or damage to or loss of property sustained by Tenant or by
any occupant of the Leased Premises, or by any other person, resulting from any
part of the Building or any equipment or appurtenances becoming out of repair,
or resulting from any accident in or about the Building or resulting directly or
indirectly from any act or neglect of any tenant or occupant of any part of the
Building or of any other person, regardless of cause or origin, including
negligence of Landlord, its agents, officers, or employees, unless such damage
is a result of the gross negligence or wilful misconduct of Landlord, or
Landlord's agents or employees. If any damage results from any act or neglect of
Tenant and (except in the case where Landlord determines the repair of such
damage to be an emergency, in which case Landlord may repair immediately) Tenant
fails to repair such damage within ten (10) days following such damage, then
Landlord may, at Landlord's option, repair such damage, and Tenant shall
thereupon pay to Landlord the total cost of such repair. All personal property
belonging to Tenant or any occupant of the Leased Premises that is in or on any
part of the Building shall be there at the risk of Tenant or of such other
person only, and Landlord, Landlord's agents and employees shall not be liable
for any damage thereto or for the theft or misappropriation thereof, regardless
of cause or origin, including negligence of Landlord, its agents, officers, or
employees, but not including Landlord's gross negligence or wilful misconduct,
unless such damage, theft or misappropriation is a result of the gross
negligence of Landlord or Landlord's agents or employees. Tenant agrees to
indemnify and hold Landlord harmless from and against any and all loss, cost,
claim and liability (including reasonable attorneys' fees) for injuries to all
persons and for damage to or loss of property occurring in or about the
Building, due to any act or negligence or default under this Lease by Tenant,
Tenant's contractors, agents or employees.

 .
           11. ADDITIONS AND FIXTURES.
               ----------------------

               A. Tenant will make no alteration, change, improvement, repair,
replacement or physical addition in or to the Leased Premises without the prior
written consent of Landlord. If such prior written consent of Landlord is
granted, the work in such connection shall be at Tenant's expense but by workmen
of Landlord or by workmen and contractors approved in advance in writing by
Landlord and in a manner and upon terms and conditions and at times satisfactory
to and approved in advance in writing by Landlord. In any instance where
Landlord grants such consent, Landlord may grant such consent contingent and
conditioned upon Tenant's contractors, laborers, materialmen and others
furnishing labor or materials for Tenant's job working in harmony and not
interfering with any labor utilized by Landlord, Landlord's contractors or
mechanics or by any other tenant or such other tenant's contractors or
mechanics; and if at any time such entry by one (1) or more persons furnishing
labor or materials for Tenant's work shall cause disharmony or interference for
any reason whatsoever without regard to fault, the consent granted by Landlord
to Tenant may be withdrawn at any time upon written notice to Tenant.

                                      -5-

<PAGE>
               B. Tenant, if Tenant so elects, may remove Tenant's trade
fixtures, office supplies and movable office furniture and equipment not
attached to the Building provided (i) such removal is made prior to the
expiration of the Term of this Lease, (ii) Tenant is not in default of any
obligation or covenant under this Lease at the time of such removal, and (iii)
Tenant promptly repairs all damage caused by such removal. All other property at
the Leased Premises and any alteration or addition to the Leased Premises
(including wall-to-wall carpeting, paneling or other wall covering) and any
other article attached or affixed to the floor, wall or ceiling of the Leased
Premises shall become the property of Landlord shall be in good condition,
normal wear and tear excepted, and shall remain upon and be surrendered with the
Leased Premises as part thereof at the expiration of the Term of this Lease,
Tenant hereby waiving all rights to any payment or compensation therefor. If,
however, Landlord so requests in writing, Tenant will, prior to the termination
of this Lease, remove in a good and workmanlike manner any and all alterations,
additions, fixtures, equipment and property placed or installed by Tenant in the
Leased Premises and will repair any damage occasioned by such removal.

           12. ASSIGNMENT AND SUBLETTING.
               -------------------------

               A. Neither Tenant nor Tenant's legal representatives or
successors in interest by operation of law or otherwise shall assign this Lease
or sublease the Leased Premises or any part thereof or mortgage, pledge or
hypothecate its leasehold interest or grant any concession or license within the
Leased Premises without the prior express written permission of Landlord, and
any attempt to do any of the foregoing without the prior express written
permission of Landlord shall be void and of no effect. In the event Tenant
requests Landlord's prior express permission as to any such assignment, sublease
or other transaction, Landlord shall have the right and option, as of the
requested effective date of such assignment, sublease or other transaction (but
no obligation), to cancel and terminate this Lease as to the portion of the
Leased Premises with respect to which Landlord has been requested to permit such
assignment, sublease or other transaction, and if Landlord elects to cancel and
terminate this Lease as to the aforesaid portion of the Leased Premises, then
the rental and other charges payable hereunder shall thereafter be
proportionately reduced. In the event of any such attempted assignment or
attempted sublease, or should Tenant, in any other nature of transaction, permit
or attempt to permit anyone to occupy the Leased Premises (or any portion
thereof) without the prior express written permission of Landlord, Landlord
shall thereupon have the right and option to cancel and terminate this Lease
effective upon ten (10) days' notice to Tenant given by Landlord at any time
thereafter either as to the entire Leased Premises or as to only the portion
thereof which Tenant shall have attempted to assign or sublease or otherwise
permitted some other party's occupancy without Landlord's prior express written
permission, and if Landlord elects to cancel and terminate this Lease as to the
aforesaid portion of the Leased Premises, then the rental and other charges
payable hereunder shall thereafter be proportionately reduced. This prohibition
against assignment or subletting shall be construed to include a prohibition
against any assignment or subletting by operation of law.

               B. Notwithstanding that the prior express written permission of
Landlord to any of the aforesaid transactions may have been obtained, the
following shall apply:

               (1) In the event of an assignment, contemporaneously with the
          granting of Landlord's aforesaid consent, Tenant shall cause the
          assignee to expressly assume in writing and agree to perform all of
          the covenants, duties and obligations of Tenant hereunder, and such
          assignee shall be jointly and severally liable therefor along with
          Tenant; Tenant shall further cause such assignee to grant Landlord an
          express first and prior contract lien and security interest in the
          manner hereinafter stated as applicable to Tenant;

               (2) In any case where Landlord consents to an assignment,
          sublease, grant of a concession or license or mortgage, pledge or
          hypothecation of the leasehold, the undersigned Tenant will
          nevertheless remain directly and primarily liable for the performance
          of all of the covenants, duties and obligations of Tenant hereunder
          (including, without limitation, the obligation to pay all rental and
          other sums herein provided to be paid), and Landlord shall be
          permitted to enforce the provisions of this Lease against the
          undersigned Tenant and/or any assignee, sublessee, concessionaire,
          licensee or other transferee without demand upon or proceeding in any
          way against any other person; and

               (3) If the rental due and payable by a sublessee under any such
          permitted sublease (or a combination of the rental payable under such
          sublease plus any bonus or other consideration therefor or incident
          thereto) exceeds the hereinabove provided rental payable under this
          Lease, or if with respect to a permitted assignment, permitted license
          or other transfer by Tenant permitted by Landlord, the consideration
          payable to Tenant by the assignee, licensee or other transferee
          exceeds the rental payable under this Lease, then Tenant shall be
          bound and obligated to pay Landlord all such excess rental and other
          excess consideration within ten (10) days following receipt thereof by
          Tenant from such sublessee, assignee, licensee or other transferee, as
          the case might be.

                                      -6-

<PAGE>

               C. Consent by Landlord to a particular assignment or sublease or
other transaction shall not be deemed a consent to any other or subsequent
transaction. If this Lease is assigned, or if the Leased Premises are subleased
(whether in whole or in part), or in the event of the mortgage, pledge or
hypothecation of the leasehold interest or grant of any concession or license
within the Leased Premises without the prior express written permission of
Landlord, or if the Leased Premises are occupied in whole or in part by anyone
other than Tenant without the prior express written permission of Landlord, then
Landlord may nevertheless collect rental and other charges from the assignee,
sublessee, mortgagee, pledgee, party to whom the leasehold interest was
hypothecated, concessionaire or licensee or other occupant and apply the net
amount collected to the rental and other charges payable hereunder, but no such
transaction or collection of rental and other charges or application thereof by
Landlord shall be deemed a waiver of these provisions or a release of Tenant
from the further performance by Tenant of Tenant's covenants, duties and
obligations hereunder.

           13. SUBORDINATION. Tenant accepts this Lease subject and subordinate
to any ground lease, mortgage, deed of trust or other lien presently existing or
hereafter placed upon the Leased Premises or upon the Building or any part
thereof, and to any renewals, modifications, extensions and refinancings
thereof, which might now or hereafter constitute a lien upon the Building or any
part thereof, and to zoning ordinances and other building and fire ordinances
and governmental regulations relating to the use of the Leased Premises, but
Tenant agrees that any such ground lessor, mortgagee and/or beneficiary of any
deed of trust or other lien ("Landlord's Mortgagee") and/or Landlord shall have
the right at any time to subordinate such ground lease, mortgage, deed of trust
or other lien to this Lease on such terms and subject to such conditions as such
Landlord's Mortgagee may deem appropriate in its discretion. Upon demand Tenant
agrees to execute such further instruments subordinating this Lease, as Landlord
may request, and such nondisturbance and attornment agreements, as any such
Landlord's Mortgagee shall request, in form satisfactory to Landlord's
Mortgagee. In the event that Tenant shall fail to execute any such instrument
within ten (10) days after requested, Tenant hereby irrevocably constitutes
Landlord as Tenant's attorney-in-fact to execute such instrument in Tenant's
name, place and stead, it being stipulated by Landlord and Tenant that such
agency is coupled with an interest in Landlord and is, accordingly, irrevocable.
Upon foreclosure of the Building or upon acceptance of a deed in lieu of such
foreclosure, Tenant hereby agrees to attorn to the new owner of such property
after such foreclosure or acceptance of a deed in lieu of foreclosure, if so
requested by such new owner of the Building.

           14. OPERATING EXPENSES.
               ------------------

               A.For purposes of this Paragraph 14, the following definitions
and calculations shall apply:

               (1)The term "Project" shall mean the Building, the parking
facilities, parking garage and other structures, improvements, landscaping,
fixtures, appurtenances and other common areas now and hereafter placed,
constructed or erected on the tract of land which is described on Exhibit B.

               (2)The term "Operating Expenses" shall mean all expenses, costs
and disbursements of every kind and nature which Landlord shall pay or become
obligated to pay because of or in connection with the ownership, operation,
maintenance, repair, replacement, protection and security of the Project,
determined on an accrual basis in accordance with generally accepted accounting
principles, including, without limitation, the following:

                    (i) Salaries and wages of all employees engaged in the
               operation, maintenance and security of the Project, including
               taxes, insurance and benefits (including pension, retirement and
               fringe benefits) relating thereto;

                    (ii) Cost of all supplies and materials used in the
               operation, maintenance and security of the Project;

                    (iii) Cost of all water, power and sewage service supplied
               to, and all heating, lighting, air conditioning and ventilating
               of, the Project, with the sole exception of electrical energy
               supplied to tenants of the Building at their respective premises
               and paid for by such tenants;

                    (iv) Cost of all maintenance and service agreements for the
               Project and the equipment therein, including, without limitation,
               alarm service, parking facilities, security (both on-site and
               off-site), janitorial service, landscaping, fire protection,
               sprinklers, window cleaning and elevator maintenance;

                                      -7-

<PAGE>

                    (v) Cost of all insurance relating to the Project, including
               the cost of casualty, rental and liability insurance applicable
               to the Project and Landlord's personal property used in
               connection therewith;

                    (vi) All taxes, assessments and governmental charges
               (foreseen or unforeseen, general or special, ordinary or
               extraordinary) whether federal, state, county or municipal and
               whether levied by taxing districts or authorities presently
               taxing the Project or by others subsequently created or
               otherwise, and any other taxes and assessments attributable to
               the Project or its operation, and all taxes of whatsoever nature
               that are imposed in substitution for or in lieu of any of the
               taxes, assessments or other charges herein defined; provided,
               however, Operating Expenses shall not include taxes paid by
               tenants of the Project as a separate charge on the value of their
               leasehold improvements, death taxes, excess profits taxes,
               franchise taxes and state and federal income taxes;

                    (vii) Cost of repairs and general maintenance, including,
               without limitation, reasonable depreciation charges applicable to
               all equipment used in repairing and maintaining the Project, but
               specifically excluding repairs and general maintenance paid by
               proceeds of insurance or by Tenant or by other third parties;

                    (viii) Cost of capital improvement items, including
               installation thereof, which are acquired primarily for the
               purpose of reducing Operating Expenses; and

                    (ix) Reasonable management fees paid by Landlord to third
               parties or management companies owned by, or management divisions
               of, Landlord, not to exceed the then prevailing market rate for
               the management of high quality class A office buildings
               comparable to the Project.

               To the extent that any Operating Expenses are attributable to the
Project and other projects of Landlord, a fair and reasonable allocation of such
Operating Expenses shall be made between the Project and such other projects.

               (3) The term "Base Operating Expenses Rate" is stipulated to be
the rate specified in Paragraph 1.Q. hereof per square foot of rentable area in
the Leased Premises.

               (4) The term "Actual Operating Expenses" shall mean, with respect
to each calendar year during the Term of this Lease, the actual Operating
Expenses for such year. The term "Actual Operating Expenses Rate" shall mean,
with respect to each calendar year during the Term of this Lease, the Actual
Operating Expenses attributable to each square foot of rentable area in the
Building, and shall be calculated by dividing the Actual Operating Expenses by
the total number of square feet of rentable area in the Building, as specified
in Paragraph 1.G. hereof. The term "Tenant's Proportionate Share of Actual
Operating Expenses" shall mean, with respect to each calendar year during the
Term of this Lease, an amount equal to the product of (i) the positive
difference (if any) obtained by subtracting the Base Operating Expenses Rate
from the Actual Operating Expenses Rate, multiplied by (ii) the weighted average
number of square feet of rentable area in the Leased Premises in such year;
provided, however, if the Actual Operating Expenses Rate is determined on the
basis of a partial calendar year, then in making the foregoing calculation, the
Base Operating Expenses Rate shall be multiplied by a fraction, the numerator of
which is the number of days in such partial calendar year and the denominator of
which is 365, and the foregoing weighted average shall be calculated only on the
basis of the portion of such calendar year covered by the Term of this Lease.

                 For  example,  if the  Actual  Operating  Expenses  Rate  for a
calendar year is $3.20 and the Base  Operating  Expenses Rate is $3.00,  and the
Leased  Premises  contains 19,000 square feet of rentable area during the entire
calendar year,  Tenant's  Proportionate  Share of Actual  Operating  Expenses is
$3,800.00, calculated as follows: ($3.20 - $3.00) x 19,000 = $3,800.00.

               B. If the Actual Operating Expenses Rate during any calendar year
is greater than the Base Operating Expenses Rate, Tenant shall be obligated to
pay to Landlord as additional rental an amount equal to Tenant's Proportionate
Share of Actual Operating Expenses. To implement the foregoing, Landlord shall
provide to Tenant within ninety (90) days (or as soon thereafter as reasonably
possible) after the end of the calendar year in which the Commencement Date
occurs, a statement of the Actual Operating Expenses for such calendar year, the
Actual Operating Expenses Rate for such calendar year, and Tenant's
Proportionate Share of Actual Operating Expenses. If the Actual Operating
Expenses Rate for such calendar year exceeds the Base Operating Expenses Rate,
Tenant shall pay to Landlord, within thirty (30) days after Tenant's receipt of
such statement, an amount equal to Tenant's Proportionate Share of Actual
Operating Expenses for such calendar year.

                                      -8-

<PAGE>

               C. Beginning with the Commencement Date of this Lease (or as soon
thereafter as reasonably possible), Landlord shall provide to Tenant a statement
of the projected annual Operating Expenses per square foot of rentable area in
the Project (the "Projected Operating Expenses Rate"). Tenant shall pay to
Landlord on the first day of each month an amount (the "Projected Operating
Expenses Installment") equal to one-twelfth (1/12) of the product of (i) the
positive difference (if any) obtained by subtracting the Base Operating Expenses
Rate from the Projected Operating Expenses Rate for such calendar year,
multiplied by (ii) the number of square feet of rentable area in the Leased
Premises on the first day of the prior month. Until Tenant has received the
statement of the Projected Operating Expenses Rate from Landlord, Tenant shall
continue to pay Projected Operating Expenses Installments to Landlord in the
same amount (if any) as required for the last month of the prior calendar year.
Upon Tenant's receipt of such statement of the Projected Operating Expenses
Rate, Tenant shall pay to Landlord, or Landlord shall pay to Tenant (whichever
is appropriate), the difference between the amount paid by Tenant prior to
receiving such statement and the amount payable by Tenant as set forth in such
statement. Landlord shall provide Tenant a statement within ninety (90) days (or
as soon thereafter as reasonably possible) after the end of each calendar year,
showing the Actual Operating Expenses Rate as compared to the Projected
Operating Expenses Rate for such calendar year. If Tenant's Proportionate Share
of Actual Operating Expenses for such calendar year exceeds the aggregate of the
Projected Operating Expenses Installments collected by Landlord from Tenant,
Tenant shall pay to Landlord, within thirty (30) days following Tenant's receipt
of such statement, the amount of such excess. If Tenant's Proportionate Share of
Actual Operating Expenses for such calendar year is less than the aggregate of
the Projected Operating Expenses Installments collected by Landlord from Tenant,
Landlord shall credit such overpayment to Tenant's next accruing rental
installments, but if the Lease has expired and there are no existing defaults by
Tenant, Landlord shall pay such overpayment to Tenant, within thirty (30) days
following Tenant's receipt of such statement, the amount of such excess.
Landlord shall have the right from time to time during each calendar year to
revise the Projected Operating Expenses Rate and provide Tenant with a revised
statement thereof, and thereafter Tenant shall pay Projected Operating Expenses
Installments on the basis of the revised statement. If the Commencement Date of
this Lease is not the first day of a calendar year, or the expiration or
termination date of this Lease is not the last day of a calendar year, then
Tenant's Proportionate Share of Actual Operating Expenses shall be prorated. The
foregoing adjustment provisions shall survive the expiration or termination of
the Term of this Lease.

               D. Notwithstanding any other provision herein to the contrary, it
is agreed that if the Project is not 95% occupied during any calendar year an
adjustment shall be made in computing the Actual Operating Expenses for such
year so that the Actual Operating Expenses are computed as though the Project
had been 95% occupied during such year.

               E. Landlord agrees to keep books and records reflecting the
Operating Expenses of the Project in accordance with generally accepted
accounting principles. Tenant, at its expense, shall have the right, within six
(6) months after receiving Landlord's statement of Actual Operating Expenses for
a particular year, to audit Landlord's books and records relating to the
Operating Expenses for such year if the Actual Operating Expenses Rate exceeds
the Base Operating Expenses Rate; or, at Landlord's sole option, Landlord may
provide such audit prepared by a certified public accountant selected by
Landlord. If conducted by Tenant, such audit shall be conducted only during
regular business hours at Landlord's office and only after Tenant gives Landlord
fourteen (14) days written notice. Tenant shall deliver to Landlord a copy of
the results of such audit within fifteen (15) days of its receipt by Tenant. No
such audit shall be conducted if any other tenant has conducted an audit for the
time period Tenant intends to audit and Landlord furnishes to Tenant a copy of
the results of such audit. No audit shall be conducted at any time that Tenant
is in default of any of terms of the lease. No subtenant shall have any right to
conduct an audit and no assignee shall conduct an audit for any period during
which such assignee was not in possession of the Leased Premises. Such audit
must be conducted by an independent nationally recognized accounting firm that
is not being compensated by Tenant on a contingency fee basis. All information
obtained through the Tenant's audit with respect to financial matters
(including, without limitation, costs, expenses, income) and any other matters
pertaining to the Landlord and/or the Project as well as any compromise,
settlement, or adjustment reached between Landlord and Tenant relative to the
results of the audit shall be held in strict confidence by the Tenant and its
officers, agents, and employees; and Tenant shall cause its auditor and any of
its officers, agents, and employees to be similarly bound. As a condition
precedent to Tenant's exercise of its right to audit, Tenant must deliver to
Landlord a signed covenant from the auditor in a form reasonably satisfactory to
Landlord acknowledging that all of the results of such audit as well as any
compromise, settlement, or adjustment reached between Landlord and Tenant shall
be held in strict confidence and shall not be revealed in any manner to any
person except upon the prior written consent of Landlord, which consent may be
withheld in Landlord's sole discretion, or if required pursuant to any
litigation between Landlord and Tenant materially related to the facts disclosed
by such audit, or if required by law. Tenant understands and agrees that this
provision is of material importance to Landlord and that any violation of the
terms of this provision shall result in immediate and irreparable harm to

                                      -9-

<PAGE>

Landlord. Landlord shall have all rights allowed by law or equity if Tenant, its
officers, agents, or employees and/or the auditor violate the terms of this
provision, including, without limitation, the right to terminate this Lease or
the right to terminate Tenant's right to audit in the future pursuant to this
paragraph. Tenant shall indemnify, defend upon request, and hold Landlord
harmless from and against all costs, damages, claims, liabilities, expenses,
losses, court costs, and attorneys' fees suffered by or claimed against
Landlord, based in whole or in part upon the breach of this paragraph by Tenant
and/or its auditor, and shall cause its auditor to be similarly bound. If within
such six (6) month period Tenant does not give Landlord written notice stating
in reasonable detail any objection to the statement of Actual Operating
Expenses, Tenant shall be deemed to have approved such statement in all
respects.

           15. EMINENT DOMAIN. If there shall be taken by exercise of the power
of eminent domain during the Term of this Lease any part of the Leased Premises
or the Building, Landlord may elect to terminate this Lease or to continue same
in effect. If Landlord elects to continue this Lease, the rental shall be
reduced in proportion to the area of the Leased Premises so taken, and Landlord
shall repair any damage to the Leased Premises or the Building resulting from
such taking. All sums awarded or agreed upon between Landlord and the condemning
authority for the taking of the interest of Landlord or Tenant, whether as
damages or as compensation, will be the property of Landlord without prejudice,
however, to claims of Tenant against the condemning authority on account of the
unamortized cost of leasehold improvements paid for by Tenant taken by the
condemning authority. If this Lease should be terminated under any provision of
this Paragraph 15, rental shall be payable up to the date that possession is
taken by the condemning authority, and Landlord will refund to Tenant any
prepaid unaccrued rental less any sum then owing by Tenant to Landlord.

           16. ACCESS BY LANDLORD. Landlord, Landlord's agents and employees
shall have access to and the right to enter upon any and all parts of the Leased
Premises at any reasonable time (except in cases of emergency, defined to be any
situation in which Landlord perceives imminent danger of injury to person and/or
damage to or loss of property, in which case Landlord may enter upon any and all
parts of the Leased Premises at any time) to examine the condition thereof, to
clean, to make any repairs, alterations or additions required to be made by
Landlord hereunder, to show the Leased Premises to prospective purchasers or
tenants or mortgage lenders (prospective or current) and for any other purpose
deemed reasonable by Landlord, and Tenant shall not be entitled to any abatement
or reduction of rental by reason thereof.

           17. LANDLORD'S LIEN. In addition to the statutory landlord's lien,
Landlord shall have at all times a valid security interest to secure payment of
all rentals and other sums of money becoming due hereunder from Tenant, and to
secure payment of any damages or loss which Landlord may suffer by reason of the
breach by Tenant of any covenant, agreement or condition contained herein, upon
all goods, wares, equipment, fixtures, furniture, improvements and other
personal property of Tenant presently, or which may hereafter be, situated in
the Leased Premises, and all proceeds therefrom, and such property shall not be
removed therefrom without the consent of Landlord until all arrearages in rental
as well as any and all other sums of money then due to Landlord hereunder shall
first have been paid and discharged and all the covenants, agreements and
conditions hereof have been fully complied with and performed by Tenant. Upon
the occurrence of an Event of Default as set forth in Paragraph 18 hereof by
Tenant, Landlord may, to the extent permitted by law and in addition to any
other remedies provided herein, enter upon the Leased Premises and take
possession of any and all goods, wares, equipment, fixtures, furniture,
improvements and other personal property of Tenant situated in the Leased
Premises, without liability for trespass or conversion, and sell the same at
public or private sale, with or without having such property at the sale, after
giving Tenant reasonable notice of the time and place of any public sale or of
the time after which any private sale is to be made, at which sale Landlord or
Landlord's assigns may purchase unless otherwise prohibited by law. Unless
otherwise provided by law, and without intending to exclude any other manner of
giving Tenant reasonable notice, the requirement of reasonable notice shall be
met if such notice is given in the manner prescribed in this Lease at least ten
(10) days before the time of sale. Any sale made pursuant to the provisions of
this Paragraph 17 shall be deemed to have been a public sale conducted in a
commercially reasonable manner if held in the Leased Premises or where the
property is located after the time, place and method of sale and a general
description of the types of property to be sold have been advertised in a daily
newspaper published in the county in which the Building is located, for five (5)
consecutive days before the date of the sale. The proceeds from any such
disposition, less any and all expenses connected with the taking of possession,
holding and selling of the property (including reasonable attorneys' fees) shall
be applied as a credit against the indebtedness secured by the security interest
granted in this Paragraph 17. Any surplus shall be paid to Tenant or as
otherwise required by law; Tenant shall pay any deficiencies forthwith. Upon
request of Landlord, Tenant agrees to execute Uniform Commercial Code financing
statements relating to the aforesaid security interest.

                                      -10-

<PAGE>

           18. DEFAULTS.
               --------

               A. Each of the following acts or omissions of Tenant or
occurrences shall constitute an "Event of Default":

               (1) Failure or refusal by Tenant to timely pay rental or other
          payments hereunder.

               (2) Failure to perform or observe any covenant or condition of
          this Lease by Tenant to be performed or observed upon the expiration
          of a period of ten (10) days following written notice to Tenant of
          such failure.

               (3) Abandonment or vacating of the Leased Premises or any
          significant portion thereof.

               (4) The filing or execution or occurrence of any one of the
          following: (i) a petition in bankruptcy or other insolvency proceeding
          by or against Tenant, (ii) petition or answer seeking relief under any
          provision of the Bankruptcy Act, (iii) an assignment for the benefit
          of creditors or composition, (iv) a petition or other proceeding by or
          against Tenant for the appointment of a trustee, receiver or
          liquidator of Tenant or any of Tenant's property, or (v) a proceeding
          by any governmental authority for the dissolution or liquidation of
          Tenant.

               (5) Tenant shall default under any other lease with Landlord, now
          existing or hereafter entered into.

               B. This Lease and the Term and estate hereby granted and the
demise hereby made are subject to the limitation that if and whenever any Event
of Default shall occur, Landlord may, at Landlord's option, in addition to all
other rights and remedies given hereunder or by law or equity, do any one (1) or
more of the following without notice or demand, any such notice or demand being
hereby waived:

               (1) Terminate this Lease, in which event Tenant shall immediately
          surrender possession of the Leased Premises to Landlord.

               (2) Enter upon and take possession of the Leased Premises and
          expel or remove Tenant and any other occupant therefrom, with or
          without having terminated the Lease.

               (3) Alter locks and other security devices at the Leased
          Premises.

               C. Exercise by Landlord of any one (1) or more remedies hereunder
granted or otherwise available shall not be deemed to be an acceptance of
surrender of the Leased Premises by Tenant, whether by agreement or by operation
of law, it being understood that such surrender can be effected only by the
written agreement of Landlord and Tenant. No such alteration of security devices
and no removal or other exercise of dominion by Landlord over the property of
Tenant or others at the Leased Premises shall be deemed unauthorized or
constitute a conversion, Tenant hereby consenting, after any Event of Default,
to the aforesaid exercise of dominion over Tenant's property within the
Building. All claims for damages by reason of such re-entry and/or possession
and/or alteration of locks or other security devices are hereby waived, as are
all claims for damages by reason of any distress warrant, forcible detainer
proceedings, sequestration proceedings or other legal process. Tenant agrees
that any re-entr by Landlord may be pursuant to judgment obtained in forcible
detainer proceedings or other legal proceedings or without the necessity for any
legal proceedings, as Landlord may elect, and Landlord shall not be liable in
trespass or otherwise.

               D. In the event that Landlord elects to terminate this Lease by
reason of an Event of Default, then, notwithstanding such termination, Tenant
shall be liable for and shall pay to Landlord, at the address specified in
Paragraph 1.B. hereof, the sum of all rental and other indebtedness accrued to
the date of such termination, plus, as damages, an amount equal to the then
present value of the rental reserved hereunder for the remaining portion of the
Term of this Lease (had such Term not been terminated by Landlord prior to the
expiration of the Term of this Lease), less the then present value of the fair
rental value of the Leased Premises for such period.

               In the event that Landlord elects to terminate the Lease by
reason of an Event of Default, in lieu of exercising the rights of Landlord
under the preceding paragraph of this Paragraph 18.D., Landlord may instead hold
Tenant liable for all rental and other indebtedness accrued to the date of such
termination, plus such rental and other indebtedness as would otherwise have
been required to be paid by Tenant to Landlord during the period following
termination of the Term of this Lease measured from the date of such termination

                                      -11-

<PAGE>

by Landlord until the expiration of the Term of this Lease (had Landlord not
elected to terminate the Lease on account of such Event of Default) diminished
by any net sums thereafter received by Landlord through reletting the Leased
Premises during said period (after deducting expenses incurred by Landlord as
provided in Paragraph 18.F. hereof). Actions to collect amounts due by Tenant
provided for in this paragraph of this Paragraph 18.D. may be brought from time
to time by Landlord during the aforesaid period, on one (1) or more occasions,
without the necessity of Landlord's waiting until the expiration of such period,
and in no event shall Tenant be entitled to any excess of rental (or rental plus
other sums) obtained by reletting over and above the rental provided for in this
Lease.

               E. In the event that Landlord elects to repossess the Leased
Premises without terminating this Lease, then Tenant shall be liable for and
shall pay to Landlord, at the address specified in Paragraph 1.B. hereof, all
rental and other indebtedness accrued to the date of such repossession, plus
rental required to be paid by Tenant to Landlord during the remainder of the
Term of this Lease until the expiration of the Term of this Lease, diminished by
any net sums thereafter received by Landlord through reletting the Leased
Premises during said period (after deducting expenses incurred by Landlord as
provided in Paragraph 18.F. hereof). In no event shall Tenant be entitled to any
excess of any rental obtained by reletting over and above the rental herein
reserved. Actions to collect amounts due by Tenant as provided in this Paragraph
18.E. may be brought from time to time, on one (1) or more occasions, without
the necessity of Landlord's waiting until the expiration of the Term of this
Lease.

               F. In case of an Event of Default, Tenant shall also be liable
for and shall pay to Landlord, at the address specified in Paragraph 1.B.
hereof, in addition to any sum provided to be paid above: (i) broker's fees
incurred by Landlord in connection with reletting the whole or any part of the
Leased Premises, (ii) the cost of removing and storing Tenant's or other
occupant's property, (iii) the cost of repairing, altering, remodeling or
otherwise putting the Leased Premises into condition acceptable to a new tenant
or tenants, and (iv) all reasonable expenses incurred by Landlord in enforcing
Landlord's remedies, including reasonable attorneys' fees. Past due rental and
other past due payments shall bear interest from maturity at the highest lawful
rate per annum until paid.

               G. Tenant acknowledges that Landlord has entered into this Lease
in reliance upon, among other matters, Tenant's agreement and continuing
obligation to pay all rental due throughout the Term. As a result, Tenant hereby
knowingly and voluntarily waives, after advice of competent counsel, any duty of
Landlord (and any affirmative defense based upon such duty) following any
default to relet the Leased Premises or otherwise mitigate Landlord's damages
arising from such default. If such waiver is not effective under then applicable
law or Landlord otherwise elects, at Landlord's sole option, to attempt to relet
all or any part of the Leased Premises, Tenant agrees that Landlord has no
obligation to: (i) relet the Leased Premises prior to leasing any other space
within the Building; (ii) relet the Leased Premises (A) at a rental rate or
otherwise on terms below market, as then determined by Landlord in its sole
discretion; (B) to any entity not satisfying Landlord's then standard financial
credit risk criteria; (C) for a use (1) not consistent with Tenant's use prior
to default; (2) which would violate then applicable law or any restrictive
covenant or other lease affecting the Building; (3) which would impose a greater
burden upon the Building's parking, HVAC or other facilities; and/or (4) which
would involve any use of hazardous substances; (iii) divide the Leased Premises,
install new demising walls or otherwise reconfigure the Leased Premises to make
same more marketable; (iv) pay any leasing or other commissions arising from
such reletting, unless Tenant unconditionally delivers Landlord, in good and
sufficient funds, the full amount thereof in advance; (v) pay, and/or grant any
allowance for, tenant finish or other costs associated with any new lease, even
though same may be amortized over the applicable lease term, unless Tenant
unconditionally delivers Landlord, in good and sufficient funds, the full amount
thereof in advance; and/or (vi) relet the Leased Premises, if to do so, Landlord
would be required to alter other portions of the Building, make ADA-type
modifications or otherwise install or replace any sprinkler, security, safety,
HVAC or other Building operating systems. Tenant further acknowledges that if
Tenant, notwithstanding Tenant's waiver above, raises Landlord's mitigation as
an affirmative defense to a claim made by Landlord prior to any actual reentry
of the Leased Premises by Landlord then, in such event, Tenant will be deemed to
have automatically waived, and released and discharged Landlord from and
against, any and all other claims and defenses to the payment of rental.

               H. If Tenant should fail to make any payment or cure any default
hereunder within the time herein permitted, Landlord, without being under any
obligation to do so and without thereby waiving such default, may make such
payment and/or remedy such other default for the account of Tenant (and enter
the Leased Premises for such purpose), and thereupon Tenant shall be obligated
to, and hereby agrees to, pay Landlord, upon demand, all costs, expenses and
disbursements (including reasonable attorneys' fees) incurred by Landlord in
taking such remedial action.

                                      -12-

<PAGE>

               I. In the event of any default by Landlord, Tenant's exclusive
remedy shall be an action for damages (Tenant hereby waiving the benefit of any
laws granting Tenant a lien upon the property of Landlord and/or upon rental due
Landlord), but prior to any such action Tenant will give Landlord written notice
specifying such default with particularity, and Landlord shall thereupon have
thirty (30) days (plus such additional reasonable period as may be required in
the exercise by Landlord of due diligence) in which to cure any such default.
Unless and until Landlord fails to so cure any default after such notice, Tenant
shall not have any remedy or cause of action by reason thereof. All obligations
of Landlord hereunder will be construed as covenants, not conditions; and all
such obligations will be binding upon Landlord only during the period of
Landlord's possession of the Building and not thereafter.

               The term "Landlord" shall mean only the owner, for the time
being, of the Building, and in the event of the transfer by such owner of its
interest in the Building, such owner shall thereupon be released and discharged
from all covenants and obligations of the Landlord thereafter accruing, but such
covenants and obligations shall be binding during the Term of this Lease upon
each new owner for the duration of such owner's ownership.

           19. NONWAIVER. Neither acceptance of rental or other payments by
Landlord nor failure by Landlord to complain of any action, nonaction or default
of Tenant shall constitute a waiver of any of Landlord's rights hereunder.
Waiver by Landlord of any right for any default of Tenant shall not constitute a
waiver of any right for either a subsequent default of the same obligation or
any other default. Receipt by Landlord of Tenant's keys to the Leased Premises
shall not constitute an acceptance of surrender of the Leased Premises.

           20. HOLDING OVER. If Tenant should remain in possession of the Leased
Premises after the expiration of the Term of this Lease, without the execution
by Landlord and Tenant of a new lease or an extension of this Lease, then Tenant
shall be deemed to be occupying the Leased Premises as a tenant-at-sufferance,
subject to all the covenants and obligations of this Lease and at a daily rental
of 200% of the per day rental provided for the last month of the Term of this
Lease, computed on the basis of a thirty (30) day month. The inclusion of the
preceding sentence shall not be construed as Landlord's consent for Tenant to
hold over. If any property not belonging to Landlord remains at the Leased
Premises after the expiration of the Term of this Lease, Tenant hereby
authorizes Landlord to make such disposition of such property as Landlord may
desire without liability for compensation or damages to Tenant in the event that
such property is the property of Tenant; and in the event that such property is
the property of someone other than Tenant, Tenant agrees to indemnify and hold
Landlord harmless from all suits, actions, liability, loss, damages and expenses
in connection with or incident to any removal, exercise or dominion over and/or
disposition of such property by Landlord.

           21. COMMON AREA. The Common Area, as defined in Paragraph 1.N.
hereof, shall be subject to Landlord's sole management and control and shall be
operated and maintained in such manner as Landlord in Landlord's discretion
shall determine. Landlord reserves the right to change from time to time the
dimensions and location of the Common Area, to construct additional stories on
the Building and to place, construct or erect new structures or other
improvements on any part of the Land without the consent of Tenant. Tenant, and
Tenant's employees and invitees shall have the nonexclusive right to use the
Common Area as constituted from time to time, such use to be in common with
Landlord, other tenants of the Building and other persons entitled to use the
same, and subject to such reasonable rules and regulations governing use as
Landlord may from time to time prescribe. Tenant shall not solicit business or
display merchandise within the Common Area, or distribute handbills therein, or
take any action which would interfere with the rights of other persons to use
the Common Area. Landlord may temporarily close any part of the Common Area for
such periods of time as may be necessary to prevent the public from obtaining
prescriptive rights or to make repairs or alterations.

           22. RULES AND REGULATIONS. Tenant, and Tenant's agents, employees and
invitees shall comply fully with all requirements of the rules and regulations
of the Building which are attached hereto as Exhibit B and made a part hereof.
Landlord shall at all times have the right to change such rules and regulations
or to amend or supplement them in such manner as may be deemed advisable for the
safety, care and cleanliness of the Leased Premises and the Building and for
preservation of good order therein, all of which rules and regulations, changes
and amendments shall be forwarded to Tenant and shall be carried out and
observed by Tenant. Tenant shall further be responsible for the compliance with
such rules and regulations by the employees, agents and invitees of Tenant.

           23. TAXES. Tenant shall be liable for the timely payment of all taxes
levied or assessed against personal property, furniture or fixtures or equipment
placed by Tenant in the Leased Premises. If any such taxes for which Tenant is
liable are levied or assessed against Landlord or Landlord's property and if
Landlord elects to pay the same, or if the assessed value of Landlord's property
is increased by inclusion of personal property, furniture or fixtures or
equipment placed by Tenant in the Leased Premises, and Landlord elects to pay
the taxes based on such increase, Tenant shall pay to Landlord upon demand that
part of such taxes for which Tenant is liable hereunder.

                                      -13-

<PAGE>

           24. INSURANCE. Tenant shall, at Tenant's expense, procure and
maintain throughout the Term of this Lease a policy or policies of commercial
general liability insurance (including contractual liability) and property
damage insurance, issued by insurers of recognized responsibility, authorized to
do business in the State in which the Building is located, insuring Tenant and
Landlord against any and all liability for injury to or death of a person or
persons, occasioned by or arising out of or in connection with the use or
occupancy of the Leased Premises, the limits of such policy or policies to be in
an amount of not less than $2,000,000 combined single limit with respect to any
one (1) occurrence, and shall furnish evidence satisfactory to Landlord of the
maintenance of such insurance. Tenant shall obtain a written obligation on the
part of each insurer to notify Landlord at least fifteen (15) days prior to
modification or cancellation of such insurance. In the event Tenant shall not
have delivered to Landlord a policy or certificate evidencing such insurance at
least fifteen (15) days prior to the Commencement Date and at least fifteen (15)
days prior to the expiration dates of each expiring policy, Landlord may obtain
such insurance as Landlord may reasonably require to protect Landlord's
interest. The cost for such policies shall be paid by Tenant to Landlord as
additional rental upon demand plus an administrative charge as determined by
Landlord.

           25. PERSONAL LIABILITY. The liability of Landlord to Tenant for any
default by Landlord under the terms of this Lease shall be limited to the
proceeds of sale on execution of the interest of Landlord in the Building and in
the Land, and neither Landlord, nor any party comprising Landlord, shall be
personally liable for any deficiency. This clause shall not be deemed to limit
or deny any remedies which Tenant may have in the event of default by Landlord
hereunder which do not involve the personal liability of Landlord.

           26. NOTICE. Any notice which may or shall be given under the terms of
this Lease shall be in writing and shall be either delivered by hand (including
commercially recognized messenger and express mail service) or sent by United
States Mail, registered or certified, return receipt requested, postage prepaid,
if for Landlord, to the Building office and at the address specified in
Paragraph 1.B. hereof, or if for Tenant, to the Leased Premises or, if prior to
the Commencement Date, at the address specified in Paragraph 1.D. hereof, or at
such other addresses as either party may have theretofore specified by written
notice delivered in accordance herewith. Such address may be changed from time
to time by either party by giving notice as provided herein. Notice shall be
deemed given when delivered (if delivered by hand) or, whether actually received
or not, when postmarked (if sent by mail). If the term "Tenant" as used in this
Lease refers to more than one (1) person and/or entity, and notice given as
aforesaid to any one of such persons and/or entities shall be deemed to have
been duly given to Tenant.

           27. LANDLORD'S MORTGAGEE. If the Building and/or Leased Premises are
at any time subject to a ground lease, mortgage, deed of trust or other lien,
then in any instance in which Tenant gives notice to Landlord alleging default
by Landlord hereunder, Tenant will also simultaneously give a copy of such
notice to each Landlord's Mortgagee (provided Landlord or Landlord's Mortgagee
shall have advised Tenant of the name and address of Landlord's Mortgagee) and
each Landlord's Mortgagee shall have the right (but no obligation) to cure or
remedy such default during the period that is permitted to Landlord hereunder,
plus an additional period of thirty (30) days, then Tenant will accept such
curative or remedial action (if any) taken by Landlord's Mortgagee with the same
effect as if such action had been taken by Landlord.

           28. BROKERAGE. Tenant represents and warrants that it has dealt with
no broker, agent or other person in connection with this transaction and that no
broker, agent or other person brought about this transaction, other than Broker
specified in Paragraph 1.P. hereof, and Tenant agrees to indemnify and hold
Landlord harmless from and against any claims by any other broker, agent or
other person claiming a commission or other form of compensation by virtue of
having dealt with Tenant with regard to this leasing transaction. The provisions
of this Paragraph 28 shall survive the termination of this Lease.

           29. PREPAID RENTAL AND SECURITY DEPOSIT. Landlord hereby acknowledges
receipt from Tenant of the sum stated in Paragraph 1.K. hereof to be applied to
the first accruing monthly installments of rental. Landlord further acknowledges
receipt from Tenant of a Security Deposit in the amount stated in Paragraph 1.L.
hereof to be held by Landlord as security for the performance by Tenant of
Tenant's covenants and obligations under this Lease, it being expressly
understood that such deposit shall not be considered an advance payment of
rental or a measure of Landlord's damages in case of default by Tenant. The
Security Deposit shall be held by Landlord without liability to Tenant for
interest, and Landlord may commingle such deposit with any other funds held by
Landlord. If Tenant should be late in the making of any payment of rental or
other sum due under this Lease, Tenant agrees that, upon request of Landlord,
Tenant will increase forthwith the amount of the Security Deposit to a sum
double the existing amount thereof. Upon the occurrence of any Event of Default,

                                      -14-

<PAGE>

Landlord may, from time to time, without prejudice to any other remedy, use such
fund to the extent necessary to make good any arrears of rental and any other
damage, injury, expense or liability caused to Landlord by such Event of
Default. Following any such application of the Security Deposit, Tenant shall
pay to Landlord on demand the amount so applied in order to restore the Security
Deposit to the amount thereof immediately prior to such application. If Tenant
is not then in default hereunder, any remaining balance of such deposit shall be
returned by Landlord to Tenant upon termination of this Lease; provided,
however, Landlord shall have the right to retain and expend such remaining
balance for cleaning and repairing the Leased Premises if Tenant shall fail to
deliver up the same at the expiration or earlier termination of this Lease in
the condition required by the provisions of this Lease. If Landlord transfers
Landlord's interest in the Leased Premises during the Term of this Lease
(including any renewal thereof), Landlord may assign the Security Deposit to the
transferee and thereafter shall have no further liability for the return of the
Security Deposit.

           30. MISCELLANEOUS.
               -------------

               A. Provided Tenant complies with Tenant's covenants, duties and
obligations hereunder, Tenant shall quietly have, hold and enjoy the Leased
Premises subject to the terms and provisions of this Lease without hindrance
from Landlord or any person or entity claiming by, through or under Landlord.

               B. In any circumstance where Landlord is permitted to enter upon
the Leased Premises during the Term of this Lease, whether for the purpose of
curing any default of Tenant, repairing damage resulting from fire or other
casualty or an eminent domain taking or is otherwise permitted hereunder or by
law to go upon the Leased Premises, no such entry shall constitute an eviction
or disturbance of Tenant's use and possession of the Leased Premises or a breach
by Landlord of any of Landlord's obligations hereunder or render Landlord liable
for damages for loss of business or otherwise or entitle Tenant to be relieved
from any of Tenant's obligations hereunder or grant Tenant any right of setoff
or recoupment or other remedy; and in connection with any such entry incident to
performance of repairs, replacements, maintenance or construction, all of the
aforesaid provisions shall be applicable notwithstanding that Landlord may elect
to take building materials in, to or upon the Leased Premises that may be
required or utilized in connection with such entry by Landlord.

               C. Landlord may restrain or enjoin any breach or threatened
breach of any covenant, duty or obligation of Tenant herein contained without
the necessity of proving the inadequacy of any legal remedy or irreparable harm.
The remedies of Landlord hereunder shall be deemed cumulative, and no remedy of
Landlord, whether exercised by Landlord or not, shall be deemed to be in
exclusion of any other. Except as may be otherwise herein expressly provided, in
all circumstances under this Lease where prior consent or permission of one (1)
party ("first party") is required before the other party ("second party") is
authorized to take any particular type of action, the matter of whether to grant
such consent or permission shall be within the sole and exclusive judgment and
discretion of the first party; and it shall not constitute any nature of breach
by the first party hereunder or any defense to the performance of any covenant,
duty or obligation of the second party hereunder that the first party delayed or
withheld the granting of such consent or permission, whether or not the delay or
withholding of such consent or permission was prudent or reasonable or based on
good cause.

               D. In all instances where Tenant is required to pay any sum or do
any act at a particular indicated time or within an indicated period, it is
understood that time is of the essence.

               E. The obligation of Tenant to pay all rental and other sums
hereunder provided to be paid by Tenant and the obligation of Tenant to perform
Tenant's other covenants and duties hereunder constitute independent,
unconditional obligations to be performed at all times provided for hereunder,
save and except only when an abatement thereof or reduction therein is
hereinabove expressly provided for and not otherwise. Tenant waives and
relinquishes all rights which Tenant might have to claim any nature of lien
against or withhold, or deduct from or offset against any rental and other sums
provided hereunder to be paid Landlord by Tenant. Tenant waives and relinquishes
any right to assert, either as a claim or as a defense, that Landlord is bound
to perform or is liable for the nonperformance of any implied covenant or
implied duty of Landlord not expressly herein set forth.

               F. Under no circumstances whatsoever shall Landlord ever be
liable hereunder for consequential damages or special damages.

               G. Landlord retains the exclusive right to create any additional
improvements to structural and/or mechanical systems, interior and exterior
walls and/or glass, which Landlord deems necessary without the prior consent of
Tenant.

                                      -15-

<PAGE>

               H. All monetary obligations of Landlord and Tenant (including,
without limitation, any monetary obligation of Landlord or Tenant for damages
for any breach of the respective covenants, duties or obligations of Landlord or
Tenant hereunder) are performable exclusively in the county in which the
Building is located.

               I. The laws of the State in which the Building is located shall
govern the interpretation, validity, performance and enforcement of this Lease.

               J. If any clause or provision of this Lease is or becomes
illegal, invalid, or unenforceable because of present or future laws or any rule
or regulation of any governmental body or entity, effective during the Term of
this Lease, the intention of the parties hereto is that the remaining parts of
this Lease shall not be affected thereby.

               K. It is mutually agreed by and between Landlord and Tenant that
the respective parties hereto shall and they hereby do waive trial by jury in
any action, proceeding or counterclaim brought by either of the parties hereto
against the other on any matters whatsoever arising out of or in any way
connected with this Lease, the relationship of landlord and tenant, Tenant's use
or occupancy of the Leased Premises, and any emergency statutory or any other
statutory remedy.

               L. Landlord expressly reserves the right, at Landlord's sole cost
and expense, to remove Tenant from the Leased Premises and to relocate Tenant in
some other space (the "New Premises") of Landlord's choosing of approximately
the same dimensions and size within the Building or any other office building
now or hereafter placed, constructed or erected on the tract of land which is
described on Exhibit B, which other space shall be decorated by Landlord at
Landlord's sole cost and expense. Landlord shall have the right, in Landlord's
sole discretion, to use such decorations and materials from the Leased Premises,
or other materials, so that the New Premises shall be comparable in its interior
design and decoration to the Leased Premises; provided, however, that if
Landlord exercises Landlord's election to remove and relocate Tenant in the New
Premises, which is at that time leasing for a higher rate of Base Rental, then
Tenant shall not be required to pay the difference between the Base Rental of
the Leased Premises and the higher Base Rental of the New Premises. Nothing
herein contained shall be construed to relieve Tenant, or imply that Tenant is
relieved, of the liability for or obligation to pay any additional rental due by
reason of any of the other provisions of this Lease, which provisions shall be
applied to the New Premises. Tenant agrees that Landlord's exercise of
Landlord's election to remove and relocate Tenant shall not terminate this Lease
or release Tenant, in whole or in part, from Tenant's obligation to pay the
rental and perform the covenants and agreements hereunder for the full Term of
this Lease. In the event of any such relocation, this Lease shall continue in
full force and effect with no change in the terms, covenants or conditions
hereof other than the substitution of the New Premises for the Leased Premises
specified in Paragraph 1.F. hereof. Upon request from Landlord, Tenant shall
execute an amendment to this Lease reflecting the aforesaid change.

               M. No receipt of money by Landlord from Tenant after the
expiration of the Term of this Lease, or after the service of any notice, or
after the commencement of any suit, or after final judgment for possession of
the Leased Premises, shall reinstate, continue or extend the Term of this Lease
or affect any such notice, demand or suit or imply consent for any action for
which Landlord's consent is required.

               N. Words of any gender used in this Lease shall be held and
construed to include any other gender, and words in the singular number shall be
held to include the plural, unless the context otherwise requires. The headings
of the Paragraphs of this Lease have been inserted for convenience only and are
not to be considered in any way in the construction or interpretation of this
Lease.

               O. Tenant agrees that Tenant shall from time to time upon request
by Landlord and/or Landlord's Mortgagee execute and deliver to Landlord a
statement in recordable form certifying (i) that the Lease is unmodified and in
full force and effect (or, if there have been modifications, that the same is in
full force and effect as so modified), (ii) the dates to which rental and other
charges payable under this Lease have been paid, and (iii) that Landlord is not
in default hereunder (or, if Landlord is in default, specifying the nature of
such default). Tenant further agrees that Tenant shall from time to time upon
request by Landlord execute and deliver to Landlord an instrument in recordable
form acknowledging Tenant's receipt of any notice of assignment of this Lease by
Landlord.

               P. In no event shall Tenant have the right to create or permit
there to be established any lien or encumbrance of any nature against the Leased
Premises or the Building for any improvement or improvements by Tenant, and
Tenant shall fully pay the cost of any improvement or improvements made or
contracted for by Tenant. Any mechanic's lien filed against the Leased Premises
or the Building for work claimed to have been done, or materials claimed to have
been furnished to Tenant, shall be duly discharged by Tenant within ten (10)
days after the filing of the lien.

                                      -16-

<PAGE>

               Q. Whenever a period of time is herein prescribed for action to
be taken by Landlord, Landlord shall not be liable or responsible for, and there
shall be excluded from the computation for any such period of time, any delays
due to strikes, riots, acts of God, shortages of labor or materials, war,
governmental laws, regulations or restrictions, or any other causes of any kind
whatsoever which are beyond the reasonable control of Landlord.

               R. This Lease shall not be recorded by either party without the
consent of the other.

               S. Nothing herein contained shall be deemed or construed by the
parties hereto, nor by any third party, as creating the relationship of
principal and agent, or of partnership or of joint venture between the parties
hereto, it being understood and agreed that neither the method of the
computation of rental, nor any other provision contained herein, nor any acts of
the parties hereto, shall be deemed to create any relationship between the
parties hereto other than the relationship of landlord and tenant.

               T. Whenever it is provided herein that a monetary sum shall be
due to Landlord together with interest at the highest lawful rate, if at such
time there shall be no highest rate prescribed by applicable law, interest shall
be due at the rate of two percent (2%) in excess of Prime Rate as defined in
Paragraph 1.O. hereof.

               U. Tenant acknowledges that Landlord's agents and employees have
made no representations or promises with respect to the Leased Premises or the
Building except as herein expressly set forth, and Tenant further acknowledges
that no rights, easements or licenses are acquired by Tenant by implication or
otherwise, except as herein expressly set forth.

               V. Tenant warrants that Tenant is, and shall remain throughout
the Term of this Lease, authorized to do business and in good standing in the
State in which the Building is located. Tenant agrees, upon request by Landlord,
to furnish Landlord satisfactory evidence of Tenant's authority for entering
into this Lease.

               W. In case it should be necessary or proper for Landlord to bring
any action under this Lease (including specifically, without limitation, for the
review of instruments evidencing a proposed assignment, subletting or other
transfer by Tenant submitted to Landlord for consent) or the enforcement of any
of Landlord's rights hereunder, Tenant agrees to pay to Landlord reasonable
attorneys' fees whether suit be brought or not.

               X. In the event Tenant requests from Landlord the written consent
of Landlord to any proposed action for which this Lease requires such consent,
Landlord may require (in addition to the payment of reasonable attorney's fees)
the payment by Tenant of a fee representing the administrative cost incurred by
Landlord in processing such request, regardless of whether such consent is
granted. Such fee shall be payable by Tenant at the time such request is made by
Tenant.

               Y. Submission of this Lease for examination does not constitute
an offer, right of first refusal, reservation of, or option for, the Leased
Premises or any other premises in the Building. This Lease shall become
effective only upon execution and delivery by both Landlord and Tenant.

               Z. If Tenant is composed of more than one (1) person or entity,
each person and/or entity comprising Tenant shall be jointly and severally
liable for the performance of the obligations of Tenant under this Lease,
including specifically, without limitation, the payment of rental and all other
sums payable hereunder.

               AA. Landlord shall have the right at any time to change the name
or street address of the Building and to install and maintain a sign or signs on
the interior or exterior of the Building.

               BB. Any charges against Tenant by Landlord for services or for
work done on the Leased Premises by order of Tenant, or otherwise accruing under
this Lease, shall be considered as rental due and shall be included in any lien
for rental.

                                      -17-

<PAGE>

               CC. Tenant has no right to protest the real estate tax rate
assessed against the Project and/or the appraised value of the Project
determined by any appraisal review board or other taxing entity with authority
to determine tax rates and/or appraised values (each a "Taxing Authority").
Tenant hereby knowingly, voluntarily and intentionally waives and releases any
right, whether created by law or otherwise, to (a) file or otherwise protest
before any Taxing Authority any such rate or value determination even though
Landlord may elect not to file any such protest; (b) receive, or otherwise
require Landlord to deliver, a copy of any reappraisal notice received by
Landlord from any Taxing Authority; and (c) appeal any order of a Taxing
Authority which determines any such protest. The foregoing waiver and release
covers and includes any and all rights, remedies and recourse of Tenant, now or
at any time hereafter, under Section 41.413 and Section 42.015 of the Texas Tax
Code (as currently enacted or hereafter modified) together with any other or
further laws, rules or regulations covering the subject matter thereof. Tenant
acknowledges and agrees that the foregoing waiver and release was bargained for
by Landlord and Landlord would not have agreed to enter into this Lease in the
absence of this waiver and release.

               DD. The parties acknowledge that the parties and their counsel
have reviewed and revised this Lease and that the normal rule of construction to
the effect that any ambiguities are to be resolved against the drafting party
shall not be employed in the interpretation of this Lease or any exhibits or
amendments hereto.

           31. ENTIRE AGREEMENT AND BINDING EFFECT. This Lease and any
contemporaneous workletter, addenda or exhibits signed by the parties constitute
the entire agreement between Landlord and Tenant; no prior written or prior
contemporaneous oral promises or representations shall be binding. This Lease
shall not be amended, changed or extended except by written instrument signed by
both parties hereto. The provisions of this Lease shall be binding upon and
inure to the benefit of the heirs, personal representatives, successors and
assigns of the parties, but this provision shall in no way alter the restriction
herein in connection with assignment, subletting and other transfer by Tenant.

                                      -18-

<PAGE>

     EXECUTED in multiple  counterparts,  each of which shall have the force and
effect of an original, on the date specified below.

                             LANDLORD:

                             DALLAS OFFICE PORTFOLIO, L.P.,
                             a Delaware limited partnership

                             By: Suburban Dallas Office Portfolio, LLC,
                                 a Delaware limited liability company, its
                                 sole general partner

                                 By: Beacon Capital Partners, L.P., a Delaware
                                     limited partnership, its sole member

                                   By: Beacon Capital Partners, Inc., a Maryland
                                       corporation, its sole general partner

Date Signed:_______________                         By:
                                                         ----------------------
                                                    Name:
                                                         ----------------------
                                                    Title:
                                                         ----------------------

                                TENANT:

                                Windsor Woodmont Black Hawk Resort Corp.
                                ----------------------------------------

Date Signed:_________________                     By:
                                                         ----------------------
                                                  Name:
                                                         ----------------------
                                                  Title:
                                                         ----------------------
                                                  Hereto Duly Authorized

                                      -19-

<PAGE>

                                Addendum to Lease
                                 By and Between
                     Dallas Office Porfolio, L.P. (Landlord)
                                       And
                Windsor Woodmont Black Hawk Resort Corp.(Tenant)

     1. Financial Condition . Tenant does hereby guaranty that the financial
statements and bank deposit records attached herein as Exhibit G, are true and
accurate and represent a true picture of the current financial condition of
Tenant. Tenant does hereby acknowledge Landlord's reliance upon this
representation as the basis for Landlord's decision to finalize this Lease.

                                      -20-

<PAGE>

                                    Exhibit A

                          [Diagram of Leased Premises]

                               [GRAPHIC OMITTED]

                            Exhibit A - Page 1 of 1

<PAGE>

                                    EXHIBIT B
                                    ---------

                            Legal Description of Land

Tract A:
Parcel 1:

BEING a tract of land out of the City of Dallas Lot 2, Block A/8417 and being
all of Lot 2A, Northcreek Phase II addition as filed for record in Volume 86195,
Page 3430, Deed Records of Dallas County, Texas, and being more particularly
described as follows:

BEGINNING at a iron rod found in the South line of Chimney Hill Lane (80 feet
wide), said point being North 89 degrees 42 minutes 00 seconds East, 10.00 feet
from the intersection of the said South line and the East line of Abrams Road
(100 feet wide);

THENCE North 89 degrees 42 minutes 00 seconds East, along the said South line a
distance of 203.54 feet to an "x" found for the point of curvature of a circular
curve to the right having a radius of 1105.92 feet and whose chord bears South
82 degrees 18 minutes 15 seconds East;

THENCE Northeasterly and Southeasterly, continuing along said South line and
along said curve, through a central angle of 15 degrees 59 minutes 30 seconds an
arc distance of 308.67 feet to an iron rod found for the point of tangency;

THENCE South 74 degrees 18 minutes 30 seconds East, continuing along said South
line a distance of 107.29 feet to an iron rod found for the point of curvature
of a circular curve to the left, having a radius of 921.47 feet and whose cord
bears South 80 degrees 07 minutes 25 seconds East;

THENCE Southeasterly continuing along said South line of Chimney Hill Lane and
along said curve through a central angle of 11 degrees 37 minutes 50 seconds an
arc distance of 187.05 feet to an iron rod found for a corner;

THENCE South 00 degrees 18 minutes 00 seconds East, departing said South line of
Chimney Hill Lane a distance of 106.22 feet to an iron rod found for a corner;

THENCE South 89 degrees 42 minutes 00 seconds West, a distance of 91.10 feet to
an "x" found for a corner;

THENCE South 00 degrees 18 minutes 00 seconds East, a distance of 2.10 feet to
an "x" found for a corner;

THENCE South 89 degrees 42 minutes 00 seconds West, a distance of 72.28 feet to
an "x" found for a corner;

THENCE South 00 degrees 18 minutes 00 seconds East, a distance of 137.11 feet to
an "x" found for a corner;

THENCE South 09 degrees 42 minutes 00 seconds West, a distance of 37.73 feet to
an "x" found for a corner;

THENCE South 89 degrees 42 minutes 00 seconds West, a distance of 635.28 feet to
an iron rod found for a corner lying on the East line of Abrams Road;

THENCE North 00 degrees 17 minutes 00 seconds West, a distance of 238.30 feet to
an iron rod found for a corner;

                             Exhibit B - Page 1 of 3

<PAGE>

THENCE North 00 degrees 18 minutes 00 seconds West, a distance of 139.63 feet to
an iron rod found for a corner;

THENCE North 44 degrees 41 minutes 54 seconds East, a distance of 14.14 feet to
the POINT OF BEGINNING and containing 256,341 square feet or 5.8848 acres of
land, more or less.

Parcel 2 (Easement Estate):

Easement Estate created in Easement Agreement dated January 29, 1986, by and
between the Prudential Insurance Company of America and Triton Southwest
Investors filed February 3, 1986, recorded in Volume 86022, Page 878 of the Deed
Records of Dallas County, Texas, as amended in Deed from The Prudential
Insurance Company of America to Triton Southwest Investors dated February 6,
1986, filed February 10, 1986, recorded in Volume 86027, Page 2880 of the Deed
Records of Dallas County, Texas, covering the following described lands, to-wit:

BEING a tract of land in the B. J. Prigmore Survey, Abstract No. 1159 and the B.
F. Hall Survey, Abstract No. 660 and being part of City of Dallas Lot 2, Block
A/8417 of the Northcreek Place Addition as recorded in Volume 79235, Page 689,
Deed Records of Dallas County, Texas, and being more particularly described as
follows:

BEGINNING at a 1/2 inch iron rod with yellow plastic cap stamped "A. H. Halff
Assoc." found at the Southwest corner of Lot 2A, Block A/8417 of the Northcreek
Phase II Addition as recorded in Volume 86195, Page 3430, Deed Records of Dallas
County, Texas and on the East line of Abrams Road (100 foot right of way);

THENCE North 89 degrees 42 minutes 00 seconds East departing said East line of
Abrams Road and along the South line of Northcreek Phase II Addition, a distance
of 635.28 feet to an "x" in concrete found for corner;

THENCE North 9 degrees 42 minutes 00 seconds East along the West line of a 24
foot access easement a distance of 37.73 feet to an "x" in concrete found for
corner;

THENCE North 00 degrees 18 minutes 00 seconds West, along said West line a
distance of 137.11 feet to an "x" in concrete found for corner;

THENCE North 89 degrees 42 minutes 00 seconds East, departing said West line and
along a Southerly line of said Northcreek Phase II Addition, a distance of 72.28
feet to an "x" in concrete found for corner;

THENCE North 00 degrees 18 minutes 00 seconds West, a distance of 2.10 feet to
an "x" in concrete found for corner;

THENCE North 89 degrees 42 minutes 00 seconds East, a distance of 91.10 feet to
a 1/2 inch iron rod found for a corner;

THENCE South 00 degrees 18 minutes 00 seconds East, a distance of 177.67 feet to
a 1/2 inch iron rod with cap set for corner;

THENCE South 00 degrees 16 minutes 10 seconds East, a distance of 990.60 feet to
a 1/2 inch iron rod with cap set for corner in the Northerly line of LBJ
Freeway, Interstate Highway 635;

THENCE North 52 degrees 21 minutes 35 seconds West, along said Northerly line, a
distance of 181.90 feet to a 1/2 inch iron rod with cap set for an angle point;

THENCE North 51 degrees 15 minutes 20 seconds West, continuing along said
Northerly line, a distance of 448.06 feet to a 1/2 inch iron rod with a yellow
cap stamped "A.H. Halff Assoc." found for corner;

                            Exhibit B - Page 2 of 3

<PAGE>

THENCE North 00 degrees 17 minutes 00 seconds West, departing said Northerly
line, a distance of 526.32 feet to a P.K. nail found for corner;

THENCE South 89 degrees 43 minutes 00 seconds West, a distance of 313.41 feet to
a 1/2 inch iron rod with cap set on said East line of Abrams Road;

THENCE North 00 degrees 17 minutes 00 seconds West, along said East line, a
distance of 71.41 feet to the POINT OF BEGINNING and containing 442,806 square
feet or 10.1654 acres of land, more or less.

                            Exhibit B - Page 3 of 3

<PAGE>

                                    Exhibit C
                                    ---------

                              RULES AND REGULATIONS

1.   Except as specifically provided for in this Lease, no sign, placard,
     picture, advertisement, name or notice will be inscribed, displayed or
     printed or affixed on or to any part of the outside or inside of the
     Building or the Leased Premises without the written consent of Landlord
     first having been obtained.

2.   Any directory of the Building provided by Landlord will be exclusively for
     the display of the name and location of tenants in the Building, and
     Landlord reserves the right to exclude any other names therefrom and may
     limit the number of listings per tenant. Tenant will pay Landlord's
     standard charge for Tenant's listing thereon and for any changes by Tenant.

3.   Tenant will not place anything or allow anything to be placed near the
     glass of any window, door, partition or wall which may appear unsightly
     from outside the Leased Premises. No awnings or other projections will be
     attached to the outside walls and roof of the Building without prior
     written consent of Landlord. No curtains, blinds, shades or screens will be
     attached to or hung in or used in connection with any window or door of the
     Leased Premises without the prior consent of Landlord.

4.   "Normal Business Hours" for purposes of Landlord's obligation to provide
     air conditioning (both heating and cooling) will mean 7:00 a.m. to 6:00
     p.m. Monday through Friday and 8:00 a.m. to 1:00 p.m. on Saturday except
     for the following holidays: New Year's Day, Presidents' Day, Memorial Day,
     Independence Day, Labor Day, Columbus Day, Veterans' Day, Thanksgiving and
     Christmas.

5.   The Leased Premises will not be used for the manufacturing or storage of
     merchandise except as such storage may be incidental to the use of the
     Leased Premises for the purposes permitted in this Lease. The Leased
     Premises will not be used for lodging or sleeping, or for any illegal
     purposes.

6.   The sidewalks, halls, passages, exits, entrances, elevators and stairways
     will not be obstructed by any of the tenants or be used by them for any
     purpose other than for ingress to and egress from their respective leased
     premises. The halls, passages, exits, entrances, elevators, stairways,
     terraces and roof are not for the use of the general public, and Landlord
     will in all cases retain the right to control and prevent access thereto by
     all persons whose presence, in the judgment of Landlord, will be
     prejudicial to the safety, character, reputation and interest of the
     Building and its tenants, provided that nothing herein contained will be
     construed to prevent such access to persons with whom Tenant normally deals
     in the ordinary course of business, unless such persons are engaged in
     illegal activities. No tenant and no employee or invitee of any tenant will
     go upon the roof of the Building.

7.   Except as expressly permitted in writing by Landlord, no additional locks
     or bolts of any kind will be placed upon any of the doors or windows by
     Tenant, nor will any changes be made to existing locks or the mechanisms
     thereof. Landlord will furnish two (2) keys for each lock it installs on
     the Leased Premises without charge to Tenant. Landlord will make a
     reasonable charge for any additional keys requested by Tenant, and Tenant
     will not duplicate or obtain keys from any other source. Tenant will upon
     the termination of the Term of this Lease return to Landlord all keys so
     issued. The Tenant will bear the cost for the replacing or changing of any
     lock or locks due to any keys issued to Tenant being lost.

8.   The toilets and wash basins and other plumbing fixtures will not be used
     for any purpose other than those for which they were constructed, and no
     sweepings, rubbish, rags or foreign substances will be thrown therein.

9.   No furniture, freight or equipment of any kind will be brought into the
     Building without the consent of Landlord, and all moving of the same into
     or out of the Building will be done at such time and in such manner as
     Landlord will designate. No furniture, packages, supplies, equipment or
     merchandise will be received in the Building or carried up or down in the
     elevators except between such hours and in such elevators that will be
     designated by Landlord. There will not be used in any space or in the
     public areas of the Building, either by Tenant or others, any hand trucks
     except those equipped with rubber tires and side guards.

10.  No tenant will make or permit to be used any unseemly or disturbing noises,
     or disturb or interfere with occupants of this or neighboring buildings or
     leased premises, whether by the use of any musical instrument, radio,
     phonograph, unusual noise or in any other way. No Tenant will throw
     anything out of doors or down the passage ways.

                            Exhibit C - Page 1 of 2

<PAGE>

11.  Tenant will not use or keep in the Leased Premises or the Building any
     kerosene, gasoline, or any inflammable, combustible or explosive fluid,
     chemical or substance or use any method of heating or air conditioning
     other than those supplied or approved by Landlord.

12.  Tenant will see that the windows and doors of the Leased Premises are
     closed and securely locked before leaving the Building. No tenant will
     permit or suffer any windows to be opened in the Leased Premises while the
     air conditioning is in operation except at the direction of Landlord.
     Tenant must observe strict care and caution that all water faucets and
     other apparatus are entirely shut off before Tenant and Tenant's employees
     leave the Building. For any default or carelessness, Tenant will make good
     all injuries sustained by all other tenants or occupants of the Building or
     Landlord.

13.  Landlord reserves the right to exclude or expel from the Building any
     person who, in the judgment of Landlord, is intoxicated or under the
     influence of liquor or drugs, or who will in any manner do any act in
     violation of any of the rules or regulations of the Building.

14.  The requirements of Tenant will be attended to only upon application at the
     Building's office. Employees of the Landlord will not perform any work or
     do anything outside of their regular duties unless under special
     instructions from Landlord, and no employees will admit any person (Tenant
     or otherwise) to any office without specific instructions from Landlord.

15.  No tenant will disturb, solicit, or canvass any occupant of the Building,
     nor will Tenant permit or cause others to do so, and Tenant will co-operate
     to prevent same by others.

16.  No vending machine or machines of any description will be installed,
     maintained or operated upon the Leased Premises without the written consent
     of Landlord. Tenant will not permit in the Leased Premises any cooking or
     the use of apparatus for the preparation of any food or beverages (except
     where the Landlord has approved the installation of cooking facilities as
     part of the Tenant's leasehold improvements), nor the use of any electrical
     apparatus likely to cause an overload of the electrical circuits.

17.  All persons entering and leaving the Building at any time other than during
     normal business hours will register in the books kept by Landlord at or
     near the night entrance or entrances, and Landlord will have the right to
     prevent any persons entering or leaving the Building unless provided with a
     key to the premises to which such person seeks entrance, and a pass in a
     form to be approved by Landlord and provided at Tenant's expense. Any
     persons found in the Building at such times without such keys or passes
     will be subject to the surveillance of the employees and agents of
     Landlord. Landlord will be under no responsibility for failure to enforce
     this rule.

18.  Tenant will not use any janitor closets or telephone or electrical closets
     for anything other than their originally intended purposes. In the event
     Tenant purchases privately owned communications equipment for which
     telephone closets were not installed in connection with initial occupancy
     of Tenant, such equipment will not be installed in existing telephone
     closets.

19.  Tenant's right to have heavy furnishings, equipment, and files in the
     Leased Premises will be limited to items weighing less than the
     load-bearing limits of floors within the Leased Premises as established by
     Landlord. Heavy items must be placed in locations approved in advance by
     Landlord. Upon written demand from Landlord, Tenant will promptly remove
     from the Leased Premises any items which, in the judgment of Landlord,
     constitute a structural overload on floors within the Leased Premises. If
     Landlord approves the presence of a heavy item for which reinforcement of
     the floor or other precautionary measures are necessary, Tenant will bear
     the entire cost of such reinforcement or other precautionary measures. If
     the services of a structural engineer are, in the judgment of Landlord,
     necessary to determine the location for and/or precautionary measures to be
     taken in connection with any heavy load, Landlord will engage such
     engineer, but the fees and expenses of such engineer will be paid by Tenant
     upon demand.

20.  Tenant will not, without the prior written consent of Landlord, use the
     name or any photograph, drawing or other likeness of the Building for any
     purpose other than as the address of the business to be conducted by Tenant
     in the Leased Premises, nor will Tenant do or permit anything to be done in
     connection with Tenant's business or advertising which, in the reasonable
     judgment of Landlord, might mislead the public as to any apparent
     connection or relationship between Landlord, the Building and Tenant.

21.  Tenant, its invitees, and employees shall be allowed to smoke only in those
     designated smoking areas outside the Building.

                             Exhibit C - Page 2 of 2

<PAGE>

                                    EXHIBIT D
                                    ---------

                                     PARKING

Parking Spaces. Landlord hereby grants to Tenant and persons designated by
Tenant a license to use up to a total of zero (-0-) parking spaces in the
underground parking lot ("Basement") and one (1) parking spaces in that certain
parking structure constructed adjacent to the Building ("Garage") as well as two
(2) parking spaces on the surface parking lot ("Lot"). The term of such license
will commence on the Commencement Date and will continue until the earlier to
occur of the expiration date under the Lease or termination of the Lease or
Tenant's abandonment of the Leased Premises. During the term of this Lease,
there shall be a charge of $ -0-_ (plus tax) per month per parking space for the
parking spaces designated above, whether or not Tenant utilizes such parking
spaces. No deductions from the monthly charge will be made for days on which the
Lot is not used by Tenant.

Control of Parking. Tenant shall at all times comply with all applicable
ordinances, rules, regulations, codes, laws, statutes and requirements of all
federal, state, county and municipal governmental bodies or their subdivisions
respecting the use of the Garage, Basement, and Lot. Landlord reserves the right
from time to time to adopt, modify and enforce reasonable rules governing the
use of the Garage, Basement, and Lot, including any key-card, sticker or other
identification or entrance system, and hours of operation. Landlord may refuse
to permit any person who violates such rules to park in the Garage, Basement,
and Lot, and any violation of the rules will subject the car to removal from the
Garage, Basement, and Lot.

Liability. The parking spaces hereunder will be provided on an unreserved
"first-come, first-served" basis. Tenant acknowledges that Landlord has or may
arrange for the Garage, Basement, and Lot to be operated by an independent
contractor, not affiliated with Landlord. In such event, Tenant acknowledges
that Landlord will have no liability for claims arising through acts or
omissions of such independent contractor. Landlord will have no liability
whatsoever for any damage to property or any other items located in the Garage,
Basement, and Lot, nor for any personal injuries or death arising out of any use
of the Garage, Basement, and Lot, and in all events, Tenant agrees to look first
to its insurance carrier and to require that Tenant's employees look first to
their respective insurance carriers for payment of any losses sustained in
connection with any use of the Garage, Basement, and Lot. Tenant hereby waives
on behalf of Tenants insurance carriers all rights of subrogation against
Landlord or Landlord's agents. Landlord reserves the right to assign specific
spaces, and to reserve spaces for visitors, small cars, handicapped persons and
for other tenants, guests of tenants or other parties, and Tenant and persons
designated by Tenant hereunder will not park in any such assigned or reserved
spaces. Landlord also reserves the right to close all or any portion of the
Garage, Basement, and Lot in order to make repairs or perform maintenance
services, or to alter, modify, re-stripe or renovate the Garage, Basement, and
Lot, or if required by casualty, strike, condemnation, act of God, governmental
law or requirement or other reason beyond Landlord's reasonable control. If, for
any other reason, Tenant or persons properly designated by Tenant, are denied
access to the Garage, Basement, and Lot, and Tenant or such persons will have
complied with this Exhibit D, Landlord's liability will be limited to parking
charges (excluding tickets for parking violations) incurred by Tenant or such
persons in utilizing alternative parking, which amount Landlord will pay upon
presentation of documentation supporting Tenants claims in connection therewith.

Default. Remedies. If Tenant defaults under this Exhibit D, Landlord will have
the right to remove from the Garage, Basement, and Lot any vehicles hereunder
which are involved or are owned or driven by parties involved in causing such
default, without liability therefor whatsoever. In addition, if Tenant defaults
under this Exhibit D, Landlord will have the right to cancel Tenant's parking
spaces on ten (10) days' written notice. If Tenant defaults with respect to the
same term or condition under this Exhibit D, more than three (3) times during
any twelve (12) month period, the next default of such term or condition, will,
at Landlord's election, constitute an incurable default of the parking
arrangements. Such cancellation right will be cumulative and in addition to any
other rights or remedies available to Landlord at law or equity, or provided
under this Lease.

                             Exhibit D - Page 1 of 1

<PAGE>

                                    EXHIBIT E
                                    ---------

                                   WORK LETTER

     This Exhibit sets forth the respective obligations of, and the procedures
to be followed by, Landlord and Tenant in the design and construction of those
improvements that will prepare the Leased Premises described in Exhibit B of the
Lease for Tenant's use and occupancy.

1.       The Work.

         Tenant shall accept the Premises on an "as is" basis.

9.       Existing Fixtures. To the extent any fixtures, equipment, including,
without limitation, plumbing fixtures, and/or above Building-standard leasehold
improvements (collectively, the "Existing Improvements") currently existing in
the Leased Premises remain a part of the Leased Premises, Tenant hereby accepts
the Existing Improvements on an "as is" "where is" basis without representation
or warranty, express or implied. Landlord shall have no obligation to repair,
maintain or replace any of the Existing Improvements, same being the sole
responsibility of Tenant.

10.      Incorporation Into Lease: Default.

         THE PARTIES AGREE THAT THE PROVISIONS OF THIS EXHIBIT ARE HEREBY
INCORPORATED BY THIS REFERENCE INTO THE LEASE FULLY, AS THOUGH SET FORTH
THEREIN. In the event of any express inconsistencies between the Lease and this
Exhibit, the latter will govern and control. Any default by Tenant hereunder
will constitute a default by Tenant under the Lease and Tenant will be subject
to the remedies and other provision

                             Exhibit E - Page 1 of 1

<PAGE>

                                   EXHIBIT ___

                                   FINAL PLAN

                             Exhibit __ Page 1 of 1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00011-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00011-of-00352.parquet"}]]