Document:

Exhibit
10.1

AMENDED AND RESTATED LEASE

This
Amended and Restated Lease (the “Lease”)
is made and entered into as of January  31 , 2007 by and between Pinnacle Casinos and Resorts, LLC, a Michigan limited
liability company (“Pinnacle”), Colorado Casino Resorts,
Inc., a Texas corporation (“CCRI”) (except where otherwise
specifically provided in this Lease, Pinnacle and CCRI are collectively
referred to as “Landlord”), and Southwest Eagle, LLC, a Minnesota corporation (“Southwest”)
or its subsidiary (except where otherwise specifically provided in this Lease,
Southwest and its subsidiary are collectively referred to as “Tenant”).  Landlord
and Tenant are sometimes referred to in this Lease as a party or the parties.

BACKGOUND

A.                                   The
current shareholders of CCRI have entered into a Securities Purchase Agreement
with Pinnacle dated October 7, 2005, under which Pinnacle will acquire all of
the outstanding shares of CCRI. 
Simultaneous with the closing of Pinnacle’s acquisition of the CCRI
Stock, Pinnacle agrees to cause CCRI to enter into a Lease and act as Landlord,
all in accordance with the terms and conditions stated in this Amended and
Restated Lease.

B.                                     On December 18, 2006, Pinnacle and Southwest
entered into a Lease (the “Original Lease”) for the real property used in the
operation of the Double Eagle Hotel and Casino and Gold Creek Casino.

C.                                     Pinnacle and Southwest desire to amend and
restate the terms of the Original Lease as provided in this Amended and
Restated Lease.

WITNESSETH:

1.                                      Premises.  In consideration of the payment of rent and
the keeping and performance of the covenants and agreements by Tenant as stated
in this Lease, Landlord hereby leases and demises to Tenant the “Premises”,
which consists of that certain real property commonly referred to as the Double
Eagle Hotel and Casino and Gold Creek Casino at 400-442 East Bennett Avenue,
Cripple Creek, Colorado, together with all improvements thereon and all rights,
easements and appurtenances thereto, comprising the building currently known as
the Double Eagle Hotel and Casino, the legal description of which is stated on Exhibit
A to this Lease (the “Double Eagle”), together with all furniture, fixtures
and equipment located therein and owned or controlled by Landlord; and

2.                                      Term.

A.                                   Lease
Term/Conditions Precedent.  The term
of the Lease commences when each and all of the following conditions (the “Conditions
Precedent”) have been satisfied:  (i)
conclusion of Tenant’s due diligence examination (as described

in section 2.B of
this Lease) in manner and substance satisfactory to Tenant, in Tenant’s sole
discretion; (ii) execution of this Lease by the parties, together with all
exhibits and appendices thereto; (iii) execution of each and all of the
Transaction Documents as defined in section 2.B below; (iv) closing on each and
all of the transactions contemplated by the Transaction Documents, including
without limitation, Pinnacle’s acquisition of CCRI and Tenant’s acquisition of
the assets (other than real property and improvements) of the Double Eagle; (v)
Pinnacle, CCRI and Tenant obtaining financing on terms and conditions
satisfactory to Pinnacle and Tenant, respectively, with which to conclude the
transactions contemplated by the Transaction Documents; (vi) approval of the
Lease and of Tenant’s operation of the Double Eagle by the Colorado Limited
Gaming Control Commission (the “Gaming Commission”); (vii) receipt of all such
other regulatory approvals and licenses, if any, as may be required for Tenant
to operate the Double Eagle as a casino hotel (including, without limitation, a
gaming license and a liquor license); (viii) Landlord’s providing Tenant with
an opinion of Landlord’s counsel, or such other assurance in form and substance
satisfactory to Tenant, that Landlord owns and has the legal right to lease the
Premises; (ix) the absence of any adverse change in the condition or use of the
Premises between the date the due diligence period ends and closing on the
Lease; and (x) approval of the Lease by Tenant’s Board of Directors.

B.                                     Due
Diligence Period.  Tenant will have
full and complete access at any time to the Premises commencing as of the date
that each and all of (i) this Lease, (ii) the Term sheet between Southwest and
Pinnacle, (iii) the Asset Purchase Agreement between Southwest and Pinnacle
(and their respective affiliates, if any, as stated in the Asset Purchase
Agreement), and (iv) documents effecting acquisition of the Premises by
Pinnacle (collectively, the “Transaction Documents”) are executed, which access
will continue for a period of not less than thirty (30) days thereafter (the “Due
Diligence Period”).  Such access will be
for the purposes of conducting such due diligence examination of the Premises
and public and private records relating thereto as Tenant deems necessary and
appropriate in its sole discretion.  Upon
execution of this Lease, Landlord will deliver to Tenant copies of all soil
tests, design or engineering studies, drawings, plans, and other documents and
materials relating to the Premises and the Off-Site Properties in Landlord’s
possession or subject to Landlord’s control. 
In the event Tenant is satisfied with the results of its due diligence
examination and elects to commence the payment of rent as in this Lease
described, Landlord will assign to Tenant all Landlord’s right, title and
interest in such documents and materials, provided however, that, unless
Tenant exercises its right of first refusal to purchase the Premises as
provided in this Lease, Tenant will, upon expiration of the Lease Term (as
defined in section 2.F below), assign back to Landlord all Tenant’s right,
title and interest in these documents and materials.

C.                                     Initial
Term.  The initial term of the Lease
commences upon the date (the “Commencement Date”) that Tenant opens the Double
Eagle as a public casino under Tenant’s management (the Conditions Precedent
stated in section 2.A above having been fully satisfied) and then continues for
a period of thirty (30) years (the “Initial Term”).

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D.                                    Extension
Term.  The term of the Lease may be
extended, at Tenant’s option, for up to an additional fifteen (15) years in the
form of three (3) five-year options (the “Extension Term”), all or any of which
Tenant may exercise by providing Landlord with written notice of Tenant’s
intention to extend the lease term no less than sixty (60) days before
expiration of the Initial Term or any Extension Term.

E.                                      Holding
Over.  Nothing in this Lease may be
deemed to permit Tenant to use or occupy the Premises after the expiration of
the Initial Term or, if applicable any Extension Term of the Lease.  If Tenant continues to occupy the Premises
after such expiration, Tenant’s occupancy will (unless the parties otherwise
agree in writing) be deemed to create a month-to-month tenancy at a monthly
rental equal to one hundred ten percent (110%) of the annual rent, prorated on
a monthly basis for the month before commencement of the holdover period, and
Tenant will remain liable for all other charges payable by Tenant under the
Lease.  Such holdover occupancy is
subject to all of the terms and conditions of this Lease.

F.                                      Definition
of Lease Term.  The phrase “Lease
Term” means the Initial Term together with, if applicable, any Extension Term.

G.                                     Definition
of Lease Year.  The term “Lease Year”
means a period of twelve (12) full consecutive calendar months.  The first Lease Year commences on the
Commencement Date.  Each Extension Term
will commence on the anniversary of the commencement date of the first Lease
Year.

3.                                      Rent.

A.                                   During
the Lease Term.  Tenant must pay
annual rent in the following amounts during the Initial Term of the Lease
(annual amounts to be paid in 12 equal monthly installments during each Lease
Year):

	
  

  	
  ·  Lease Year 1

  	
  $4 million

  
	
   

  	
  ·  Lease Year 2

  	
  $4.1 million

  
	
   

  	
  ·  Lease Year 3

  	
  $4.2 million

  
	
   

  	
  ·  Lease Years 4, 5, 6

  	
  $4.3 million

  
	
   

  	
  ·  Lease Years 7, 8, 9

  	
  $4.5 million

  
	
   

  	
  ·  Lease Years 10, 11, 12

  	
  $4.635 million

  
	
   

  	
  ·  Lease Years 13, 14, 15

  	
  $4.774 million

  
	
   

  	
  ·  Lease Years 16, 17, 18

  	
  $4.887 million

  
	
   

  	
  ·  Lease Years 19, 20, 21

  	
  $5.033 million

  
	
   

  	
  ·  Lease Years 22, 23, 24

  	
  $5.183 million

  
	
   

  	
  ·  Lease Years 25, 26, 27

  	
  $5.338 million

  
	
   

  	
  ·  Lease Years 28, 29, 30

  	
  $5.498 million

  

 

If
Tenant exercises any or all of its three five-year extensions, annual rent will
increase by three percent (3%) for each three-year period of any Extension Term
(for example, if Tenant exercises the first of its three five-year options,
annual rent during

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Lease Years 31, 32
and 33 will be $5.663 million, which is a three percent (3%) increase over
$5.498 million, etc.).

B.                                     Deposit.  On the Commencement Date, Tenant must pay to
Landlord, in advance, a deposit of first month’s rent in the amount of $330,000
and last month’s rent in the amount of $330,000, an aggregate of $660,000 (the “Deposit”).  Tenant must pay the Deposit in accordance
with Section 3.D. of this Agreement.

C.                                     Net
Lease.  It is the intent of the
Landlord and Tenant that the rent to be paid during the Lease Term will be a
net return to Landlord, free of expense, charge, or reduction with respect to
the Premises.  Except as otherwise
provided in this Lease, Tenant must pay all Operating Expenses of the Premises
during the Lease Term.  For purposes of
this Lease, “Operating Expenses” to be paid by Tenant are defined as:

(i)                                     All
real property taxes and assessments levied against the Premises by any
governmental authority, provided however that the term “taxes and
assessments,” as used in this Lease, does not include any net federal or state
income taxes levied or assessed on Landlord, unless such taxes are a specific
substitute for real property taxes.  The
term “assessment” includes so-called special assessments imposed by any
authority having the direct power to tax, including any city, county, state or
federal government.  For purposes of this
Lease, any special assessment will be deemed payable in such number of
installments as is permitted by law.

(ii)                                  Costs
incurred in connection with providing energy for the Premises, including costs
of propane, butane, natural gas, steam, electricity, solar energy and fuel
oils, coal or any other energy sources.

(iii)                               Costs
of water and sanitary and storm drainage services.

(iv)                              Costs
of general maintenance and repairs occasioned by normal wear and tear on the
Premises experienced during the Lease Term, including the cost of maintaining
and repairing (but not replacing) HVAC and other mechanical systems.

(v)                                 Costs
of maintenance and replacement of landscaping.

(vi)                              Costs
of obtaining insurance insuring the Premises, which insurance policies must
name Landlord as an additional insured, and Tenant’s personal property located
on the Premises.

“Operating
Expenses” does not include the following expenses, which will be paid by
Landlord:

(i)                                     Costs
of repair of structural defects, including the roof, walls and floors of the
Premises, or of replacement of the HVAC, plumbing (except in the event of
damage caused by freezing pipes), or sprinkler system (except in the event of

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damage caused by
freezing pipes).  Landlord has
represented to Tenant that the Premises’ structural integrity is sound and that
all essential operating equipment and components were properly installed and
maintained. As such, Landlord warrants and represents to Tenant that the
Premises and all its major components are in good working order, free from
defects and deficiencies.  Landlord further
warrants and represents that the Premises complies with all permits,
certificates, laws, rules building and other codes and regulations of
governmental agencies or authorities (collectively, the “Codes”) now in effect,
and that Landlord will, at its expense, cause the Premises to continue to
comply with such Codes as are now in effect during the Lease Term.

(ii)                                  Costs
of repairs or other work occasioned by fire, windstorm or other insured
casualty to the extent of insurance proceeds received.

(iii)                               Costs
of repairs or rebuilding necessitated by condemnation.

(iv)                              Any
interest on borrowed money or debt amortization.

If Landlord and Tenant
disagree as to whether a particular expense is an “Operating Expense” for
purposes of this Lease, Tenant may make and pay for the repair, and the parties
will then each select an expert who will determine the nature of the expense
and its apportionment, if any, between Landlord and Tenant.  If the two experts are unable to agree on the
nature of the apportionment of the expense, the two experts must together
appoint a third expert, whose decision as to both elements of the determination
will be final and binding upon Landlord and Tenant.  Landlord and Tenant must each bear their own
costs in retaining their own experts, and they will share equally in the costs
associated with the retention and work of the third expert, if one is
appointed.

D.                                    Place
and Method of Payment.  Rent is
payable at Landlord’s notice address reflected in Section 18.E below.  On a weekly basis, Tenant will deposit an
amount equal to 1/52 of the annual rent into a secure account established for
the benefit of the Landlord. Tenant must issue to Tenant’s bank irrevocable
instructions to pay rent due to Landlord, as stated in Section 3.B., by wire
transfer from this secure account on or before the 1st business day of
each month. Any interest accrued on the account in excess of rent owed will
belong to tenant.  All fees and charges
related to the operation of the secure account will be paid by Tenant.

4.                                      Use of Premises.

A.                                   Tenant
may use the Premises for any lawful purpose, including, without limitation,
hotel operations, restaurant operations, parking, retail sales operations, and
a casino as contemplated by the Colorado Limited Gaming Act, C.R.S. §12-47.1-101,
et seq. (the “Gaming Act”) (the Gaming Act and all amendments and
gaming regulations now existing or hereafter adopted, and all gaming-related
laws of the City of Cripple Creek and the County of Teller, are sometimes
collectively referred to in this Lease as the “Gaming Laws”), and for any other
ancillary or related use(s) as may be permitted by

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law.  Landlord will have no control over or power
to influence decisions concerning operation of the Premises.

B.                                     Landlord
agrees to cooperate as reasonably required by Tenant to assist Tenant in
obtaining and maintaining such licenses for the Premises as Tenant requires and
will, in particular, execute any and all documents necessary to obtain such
licenses.  Landlord will not cause any
such licenses to be denied, revoked, not renewed, or suspended, whether through
actions of Landlord prior to the issuance of such licenses or thereafter during
the Lease Term.

C.                                     Landlord
further agrees that from and after the date the parties execute this Lease,
Landlord must not grant or convey any easement, lease, encumbrance, license,
permit, or any other legal or beneficial interest in or to the Premises without
the prior written consent of Tenant, nor may Landlord violate, or allow the
violation of, any law, ordinance, rule or regulation affecting the
Premises.  Landlord will do or cause to
be done all things reasonably within its control to preserve intact and
unimpaired any and all rights of way, easements, grants, appurtenances, privileges,
and licenses in favor of or constituting any portion of the Premises.

D.                                    Subject
to section 3.B of this Lease, Tenant will, at its own expense, keep the
Premises in good repair and tenantable condition and indemnify Landlord against
any loss, damage or expense arising by reason of any failure of Tenant so to
keep the Premises or due to any act of neglect of Tenant, its agents,
employees, contractors, invitees, licensees, tenants or assigns.  If Tenant fails to perform, or cause to be
performed, such maintenance and repairs, then at the option of Landlord, any
such maintenance and repair may be performed or caused to be performed by
Landlord, and the reasonable cost and expense thereof charged to Tenant, and
Tenant will pay the amount thereof to Landlord on demand as additional rent.

E.                                      Except
as otherwise provided in this Lease, Tenant will, at its own expense, comply
with all statutes, regulations, rules, ordinances and orders of any
governmental body, department or agency thereof that apply to or result from
Tenant’s use or occupancy of the Premises.

5.                                      Additional Improvements/Mechanics Liens

A.                                   Additional
Improvements.  Tenant may, from time
to time, at Tenant’s expense, construct or install other improvements at the
Double Eagle or any portion of the Premises contiguous with or adjacent to the
Double Eagle, and make such changes, alterations and additions to the Premises
as Tenant deems necessary or desirable (the “Additional Improvements”).  Where appropriate or required, Additional
Improvements will be made under the supervision of an architect or engineer
licensed in the state of Colorado and selected by Tenant in its sole
discretion.

B.                                     Mechanic’s
Liens.  In connection with the
construction of any Additional Improvements, Tenant must cause the payment of
all proper and valid

 6
 

invoices and
charges of all contractors, subcontractors, suppliers, materialmen and similar
parties who furnish services or materials in connection with the construction
process.  If any party records a mechanic’s
lien to enforce any claim for services or materials alleged to have been
provided in connection with the Premises, Tenant must so advise Landlord in
writing and cause the same to be released of record within sixty (60) days
after the recordation thereof, and Tenant is liable to satisfy and cause a discharge
of any such mechanic’s lien claim.

Notwithstanding
the foregoing, Tenant has the right to contest any such mechanic’s lien
provided that Tenant conducts such contest in a timely manner and with due
diligence, and that Tenant provides Landlord with either cash, a surety bond or
a letter of credit (as Tenant decides in Tenant’s sole discretion) in an amount
equal to the lien claim.  If Tenant loses
any such contest, and all further rights of appeal have expired, Tenant must
satisfy the mechanic’s lien claim in full prior to any foreclosure sale or
other disposition of the Premises in order to satisfy the claim.

7.                                      Title
to Assets and Improvements.

A.                                   As
a condition precedent to Tenant entering into this Lease, Landlord must, at
Landlord’s expense, obtain a title insurance policy insuring Tenant’s leasehold
interest in the Premises, which title insurance policy must evidence Landlord’s
fee simple interest ownership in the Premises subject only to (i) mortgage
liens totaling no more than $60,000,000.00,
(ii) general property taxes for the current year, and (iii) such easements,
rights of way, restrictions and other title matters as Tenant deems, in Tenant’s
sole discretion, not to adversely affect the value of Tenant’s intended use of
the Premises (collectively, the “Permitted Exceptions”).  The title insurance policy is attached to
this Lease as Exhibit 1 and incorporated in this Lease by
reference.  Landlord warrants that it has
fee simple title to the Premises, free and clear of all encumbrances save for the
Permitted Exceptions.

B.                                     Except
as otherwise provided in this Lease, Landlord is the owner of all improvements
paid for and constructed by Tenant upon the Premises, as the same may be
altered, expanded and/or or improved in accordance with this Lease, except
that any gaming or other equipment purchased by Tenant for use in operating
the Double Eagle is the property of Tenant. 
Except as provided in this Lease, upon the expiration or earlier
termination of this Lease, all improvements then existing upon the Premises
will revert to and become the property of Landlord without compensation to
Tenant.

C.                                     Tenant
must surrender the Premises at the end of the Lease Term or upon earlier
termination of the Lease in good condition and repair, reasonable wear and tear
and fire and other casualty excepted.

8.                                      Quiet
Enjoyment.  So long as Tenant is
not in material, uncured default under this Lease, Landlord must permit Tenant
to peaceably and quietly use and enjoy the Premises during the Lease Term
without hindrance or interruption by Landlord or any other person or persons
lawfully or equitably claiming by, through or under Landlord.

 7
 

Notwithstanding
the foregoing, Landlord may conduct reasonable inspections of the Premises upon
providing ten (10) days prior written notice of such inspection to Tenant.

9.                                       Casualty
and Restoration of the Premises. 
If the Premises are damaged by fire or other casualty during the Lease
Term, Tenant may, at its option, (i) terminate the Lease, retain such insurance
proceeds as relate to improvements made by Tenant on the Premises before the
casualty, and permit use of whatever portion of the remaining proceeds is
necessary to restore the Premises to their condition as of the Commencement
Date of this Lease, or (ii) retain all insurance proceeds received as a result
of the casualty, use the same to restore the Premises to their condition as of
the Commencement Date of this Lease, and continue to make rent payments during
the Lease Term.  Tenant must notify
Landlord in writing within thirty (30) days following the occurrence of any
casualty concerning which of these two options Tenant has chosen, and rent will
abate during the thirty (30) day period.

10.                               Condemnation.  If any portion of the Premises is taken by
right of eminent domain or by condemnation, or is conveyed in lieu of any such
taking, Tenant may terminate this Lease and retain those condemnation proceeds
that relate to improvements made by Tenant on the Premises before the taking or
condemnation.

11.                               Right
of First Refusal. If Landlord desires to transfer, assign or otherwise
convey all or any portion of its interest in the Premises, whether initiated by
Landlord or by an offer to purchase from a third party, Landlord must so notify
Tenant in writing (the “Notice”), specifying the terms and conditions and the
price at which Landlord intends to offer its interest (collectively, the “Terms”).  Tenant will have thirty (30) days (or any
longer period stated in any offer received from a third party) after receipt of
the Notice within which to notify Landlord that Tenant desires to purchase the
interest being offered on the Terms.  If
Tenant fails to so notify Landlord, Landlord will be free to consummate a
transaction with a third party on the Terms at any time within the three (3)
months immediately following expiration of Tenant’s notification period without
re-offering the transaction to Tenant. 
If no sale occurs with that three (3) month period, then prior to
consummating any transaction, the provisions of this Section 11 must again be
complied with.  If Tenant timely notifies
Landlord that Tenant desires to exercise the right to purchase contemplated by
this Section 11, the closing will occur on the Terms within ninety (90) days of
the date of Tenant’s giving such notice. 
During the first four years of this Lease, Tenant’s right of first
refusal as described in this Section 11 will be subordinate to the right
Michael Smith and Gilbert Sisneros to purchase the Premises from CCRI.

12.                               Tenant’s
Right to Encumber.  Tenant may at
any time during the Lease Term encumber the leasehold estate by mortgage or
deed of trust.  This right of Tenant to
encumber the leasehold estate is a continuing right and will not be deemed to
be exhausted by the exercise of this right on one or more occasions.  Any such encumbrance must be expressly
subject to the provisions of this Lease, must not encumber Landlord’s fee
simple interest in the Premises, and must be subordinate to any loans to which
Landlord has subordinated its fee simple interest.

 8

13.          Assignment.

A.            By Landlord.  Landlord may assign this Lease upon written
notice to Tenant, provided that such assignment is permitted by the
Gaming Laws, and further provided that any such assignment is subject to
Tenant’s right of first refusal stated in Section 11 of this Lease.

B.            By Tenant.  Tenant may assign this Lease upon written
notice to Landlord, provided that such assignment is permitted by the
Gaming Laws.  Notwithstanding any
assignment, Tenant will at all times remain liable for the payment of rent and
all other payment obligations in this Lease specified to be paid by Tenant, and
for compliance with all Tenant’s other obligations under this Lease.

14.          Default
by Tenant.

A.            Definition of Event
of Default.  Each one of the
following events constitutes an “Event of Default”:

(i)            Any failure by Tenant
to pay rent or other monetary sums required to be paid hereunder on the date
such sums are due and the continuance of such failure for a period of thirty
(30) days after written notice of such failure from Landlord.

(ii)           The filing of any
petition or the commencement of any case or proceeding by Tenant under any
provision or chapter of the federal Bankruptcy Act, the federal Bankruptcy
Code, or any other federal or state law relating to insolvency, bankruptcy, or
reorganization, or the adjudication that Tenant is insolvent or bankrupt, or
the entry of an order for relief under the federal Bankruptcy Code with respect
to Tenant.

(iii)          The filing of any
petition or the commencement of any case or proceeding described in Section
14.A.(ii) above against Tenant, unless such petition and all proceedings
initiated thereby are dismissed within sixty (60) days from the date of such
filing; the filing of an answer by Tenant admitting the allegations of any such
petition; the appointment of or taking possession by a custodian, trustee or
receive for all or any assets of Tenant, unless such appointment is vacated or
dismissed within sixty (60) days from the date of such appointment.

(iv)          Tenant fails to perform
any of the other material agreements, terms, covenants or conditions of the
Lease on Tenant’s part to be performed, and such non-performance continues for
a period of thirty (30) days after written notice thereof by Landlord to Tenant
or, if such performance cannot reasonably be attained within such thirty (30)
day period, Tenant does not in good faith commence such performance within such
thirty (30) day period and does not diligently proceed therewith to completion.

 9
 

B.            Remedies of
Landlord.  If any one or more Events
of Default occurs, then Landlord has the right, at Landlord’s election, either
to:

(i)            Make any payment or
take any action to cure any the Event of Default by Tenant in a manner and to
an extent that the Landlord in good faith deems necessary or desirable.

(ii)           Subject to the Gaming
Laws, give Tenant written notice in accordance with the Colorado forcible entry
and detainer laws, terminate this Lease as of the date of Tenant’s default or
as of any later date specified in Landlord’s notice of default, and demand and
recover possession of the Premises from Tenant.

(iii)          Subject to the Gaming
Laws, re-enter and take possession of all or any part of the Premises and expel
Tenant therefrom.  After recovering
possession of the Premises, Landlord must use reasonable efforts to re-let the
Premises.

C.            Management
Agreement.  Notwithstanding the
foregoing, if Landlord elects to pursue the remedies in either or both or
subparagraphs 14.B(ii) or (iii) above, (1) Tenant may remove from the Premises,
without payment or liability to Landlord, all gaming-related assets, including
gaming equipment, and (2) subject to approval by the Gaming Commission,
Landlord and Tenant will enter into a management agreement pursuant to which
Tenant manages the Double Eagle on terms to be agreed upon until the date
agreed upon by Landlord and Tenant in the management agreement, or licensing by
the Gaming Commission of a new operator.

D.            Remedies Cumulative.  Each of the remedies described above, and all
of the remedies available to Landlord at law or in equity upon a default by
Tenant, are cumulative with and in addition to one another, and may be
exercised simultaneously or successively, as Landlord may deem appropriate,
without any exercise of one remedy being deemed an election of remedies or a
waiver to the exclusion of any other remedy.

15.          Default
by Landlord.

A.            Definition of
Default.  Landlord will be in default
under this Lease if Landlord fails to comply with any material term, condition
or obligation of Landlord under the Lease, and that failure continues for a
period of thirty (30) days after Tenant gives Landlord written notice of
failure, unless that failure cannot reasonably be cured with the thirty (30)
day period, in which event the cure period will extend so long as Landlord has
in good faith begun to take action to cure the default with the thirty (30) day
period and diligently proceeds to completion thereafter.

B.            Remedies of Tenant.  Upon the occurrence of any default by
Landlord, Tenant has the right, at its election, then or at any time
thereafter, to exercise any one or more of the following remedies:

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(i)            Make any payment or
take any action to cure any such default by Landlord in a manner and to an
extent that Tenant in good faith deems necessary or desirable.

(ii)
          Terminate
this Lease as of the date of the default by Landlord, or as of any later date
specified in a written notice of termination to Landlord.

(iii)          Commence an action to
specifically enforce any of the Landlord’s obligations under the Lease.

C.            Management
Agreement.  Notwithstanding the
foregoing, if Tenant elects to pursue the remedies in subparagraphs 14.B(ii)
above, (1) Tenant may remove from the Premises, without payment or liability to
Landlord, all gaming-related assets, including gaming equipment, and (2)
subject to approval by the Gaming Commission, Landlord and Tenant will enter
into a management agreement under which Tenant manages the Double Eagle on
terms to be agreed upon until the dated agreed upon by Landlord and Tenant in
the management agreement, or licensing by the Gaming Commission of a new
operator.

D.            Remedies Cumulative.  Each of the remedies described above, and all
of the remedies available to Tenant at law or in equity upon a default by
Landlord, are cumulative with and in addition to one another, and may be
exercised simultaneously or successively, as Tenant may deem appropriate,
without any exercise of one remedy being deemed an election of remedies or a
waiver to the exclusion of any other remedy.

16.          Landlord’s
Additional Representations and Warranties.  Landlord represents and warrants that to the
best of Landlord’s knowledge and belief as of the Commencement Date of this
Lease:

A.            There is no litigation
pending or threatened that in any manner affects the Premises.

B.            There are no
violations of any federal, state, or local law, code, ordinance, rule,
regulation, or requirement affecting the Premises.

C.            The Premises have full
and free access to and from public highways, streets, and/or roads adjacent to
the Premises, and Landlord has no knowledge of any fact or condition that would
result in the termination of such access.

D.            Landlord has not
received any notices, demands, or deficiency comments from any mortgagee of the
Premises or from any state, municipal, or county government or any agency
thereof with regard to the Premises.

E.             Landlord has not
received any notice of, and has no other knowledge or information of, any
pending or contemplated change in any applicable law, ordinance, or
restriction; or of any pending or threatened judicial or administrative action;

 11
 

or of any action
pending or threatened by adjacent landowners; or of any natural or artificial
condition upon the Premises, or any part thereof, any of which would result in
any material change in the condition of the Premises, or any part thereof, or
in any way limit or impede the operation of the Double Eagle.

F.             Landlord has not
entered into any agreements with the City of Cripple Creek, the County of
Teller, or the State of Colorado, or any other governmental entity with respect
to the Premises that may result in liability or expense to Tenant, and further,
that there are no special improvement assessments relating to the Premises.

G.            Each and every
document, schedule, item and other information to be delivered to Tenant by
Landlord under this Lease is true, accurate and correct, and no such document,
schedule or information contains or will contain any untrue statement of a
material fact, or omits or will omit a material fact.

17.          Miscellaneous.

A.            No Implied Waiver.  No failure by either party to insist upon the
strict performance of any term, covenant or agreement in this Lease, or to
exercise any right or remedy in connection with this Lease, and no acceptance
of full or partial payment during the continuance of any default by Landlord or
Tenant, will constitute a waiver of any term, covenant or agreement or any
right or remedy or any default by Landlord or Tenant.

B.            Survival of
Provisions.  Notwithstanding any
termination of this Lease, the Lease will continue in full force and effect as
to any provisions of this Lease that specifically contemplate and require
observance or performance by Landlord or Tenant subsequent to termination.

C.            Binding Effect.  This Lease extends to and binds the heirs,
executors, legal representatives, successors, and permitted assign of Landlord
and Tenant.  The terms, covenants,
agreements and conditions in this Lease must be construed as covenants running
with the Premises.

D.            Recording,
Subordination and Attornment.  This
Lease and/or any Memorandum of this Lease may, at Tenant’s sole option, be
recorded in a manner and at a time selected by Tenant in its sole
discretion.  In addition, upon execution
of this Lease and as a condition precedent to the commencement of the Term of this
Lease, Landlord must obtain from Landlord’s mortgage lender(s) subordination
and attornment agreements in form and substance satisfactory to Tenant.

E.             Notices.  All notices required or permitted under this
Lease must be given by registered or certified mail, return receipt requested,
correctly addressed and postage prepaid, or by hand or commercial carrier
delivery, or by facsimile as follows:

 12
 

 

	
  If to Southwest:

  	
  With a copy to:

  
	
  Mr. Thomas E. Fox 

  Southwest Casino Corporation 

  2001 Killebrew Drive, Suite 350 

  Minneapolis, MN 55425 

  (952) 853-9990

  	
  Thomas Snook, Esq. 

  General Counsel 

  Southwest Casino Corporation 

  2001 Killebrew Drive, Suite 350 

  Minneapolis, MN 55425 

  (952) 853-9990

  
	
   

  	
   

  
	
  If to Pinnacle:

  	
  With a copy to:

  
	
  Dorian N. Lange 

  2127 University Park Drive 

  Suite 300 

  Okemos, MI 48864 

  (517) 349-7200

  	
  Richard F. Fabiano 

  6629 Denham Court SE 

  Grand Rapids, MI 49546 

  (616) 481-2756

  

 

Any notice
delivered by mail in accordance with this section will be deemed to have been
duly given on the third business day after the same is deposited in any post
office or postal box regularly maintained by the United States Postal Service,
properly addressed, postage prepaid.  Any
notice delivered by facsimile will be deemed to have been duly given upon
receipt if receipt is confirmed mechanically or by the recipient.  Any notice delivered by hand or commercial
carrier will be deemed to have been given upon actual receipt.  Either party, by notice given as in this
Lease provided, may change the address to which future notices may be sent.

F.             Time of the
Essence.  Time is of the essence
under this Lease for the performance and observance of all obligations of
Landlord and Tenant, and all provisions of this Lease must be strictly
construed.

G.            Captions for
Convenience.  The headings and
captions of this Lease are for convenience only and must not be considered in
interpreting the provisions of this Lease.

H.            Severability.  If any provision of this Lease is held
invalid or unenforceable by a court of competent jurisdiction, the remainder of
the Lease will not be affected by that holding, it being the intent of the
parties that the provisions of this Lease are enforceable to the fullest extent
permitted by law.  There is deemed
substituted for any invalid or unenforceable provision a valid and enforceable
provision as similar as possible to the invalid provision.

I.              Venue and
Governing Law.  This Lease is
governed by and interpreted under the laws of Colorado without reference to
Colorado’s conflicts of law principles, and will be enforced in the courts of
Colorado.

 13
 

J.             Integration/Entire
Agreement.  This Lease, the Exhibits
to this Lease, and the other documents expressly referenced in this Lease
constitute the entire agreement between the parties concerning the subject
matter of this Lease, and supersede all prior or contemporaneous oral or
written negotiations, understandings or agreements.

K.            Modification/Amendment.  This Lease may not be amended, changed or
modified except in a writing signed by all parties.

Signatures
on next page.

IN WITNESS WHEREOF, the parties have caused
this Lease to be executed as of the day and year first written above.

	
  Landlord:

  	
   

  	
  Tenant:

  
	
   

  	
   

  	
   

  
	
  Pinnacle Casinos
  and Resorts, LLC

  	
   

  	
  Southwest Eagle, LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Thomas E. Fox,
  President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Colorado Casino
  Resorts, Inc.

  	
   

  	
   

  
	
  (to be executed
  upon acquisition of CCRI

  	
   

  	
   

  
	
  by Pinnacle)

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
									

 14
 

EXHIBIT A

Legal Description:

Parcel 1:  Lot 15-R, Block 23, Fremont (now Cripple
Creek) according to the Subdivision Exemption Plat, recorded January 15, 2004
at Reception No. 560954, Teller County, Colorado.

Parcel 2:  Lot 16, Block 23, Fremont (now Cripple Creek)
according to the Subdiviaion [sic] Exemption Plat rerecorded September 30, 1991
in Plat Book L Page 15, Teller County, Colorado.

Parcel 5:  The surface only of: Lots 27 thru 30, Block
23, Fremont (now Cripple Creek), Teller County, Colorado.

All as shown on the
Improvement Location Certificate, Section 13, Township 15 South, Range 70 West
of 6th P.M. certified by Professional Land Surveyor
John H Keilers, PLS No. 23890, dated June 30, 2005.

Agreed to and accepted:

	
  Landlord:

  	
   

  	
  Tenant:

  
	
   

  	
   

  	
   

  
	
  Pinnacle Casinos
  and Resorts, LLC

  	
   

  	
  Southwest Eagle, LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Colorado Casino
  Resorts, Inc.

  	
   

  	
   

  
	
  (to be executed
  upon acquisition of CCRI

  	
   

  	
   

  
	
  by Pinnacle)

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
											

 

 15Exhibit
10.2

RIGHT OF ACCESS AND USE AGREEMENT

This
Right of Access and Use Agreement(the “Agreement”)
is made and entered into as of January  31 , 2007 by and between Pinnacle Casinos and Resorts, LLC, a Michigan limited
liability company (“Pinnacle”), Colorado Casino Resorts,
Inc., a Texas corporation (“CCRI”) (except where otherwise
specifically provided in this Agreement, Pinnacle and CCRI are collectively
referred to as “Landlord”), and Southwest Eagle, LLC, a Minnesota corporation (“Southwest”)
or its subsidiary (except where otherwise specifically provided in this
Agreement, Southwest and its subsidiary are collectively referred to as “Tenant”).  Landlord
and Tenant are sometimes referred to in this Agreement as a party or the
parties.

BACKGOUND

A.            The current
shareholders of CCRI have entered into a Securities Purchase Agreement with
Pinnacle dated October 7, 2005, under which Pinnacle will acquire all of the
outstanding shares of CCRI.

B.            Southwest and Pinnacle
have entered into an agreement under which Southwest will acquire the operating
assets and business of the Double Eagle Hotel & Casino and Gold Creek
Casino (collectively, the “Double Eagle”) from Pinnacle simultaneous with the
closing of Pinnacle’s acquisition of the CCRI Stock.

C.            Pinnacle agrees to
cause CCRI, simultaneous with the sale of the Double Eagle to Southwest to
enter into this Agreement.

AGREEMENT

1.             Off-Site
Properties.  Landlord
hereby agrees to permit Tenant, in consideration of Tenant’s payment of $50 per
year, the exclusive right to access and use the “Off-Site Properties”, which
consists of that certain real property and improvements owned by Landlord or
its affiliates and situated in Cripple Creek, Colorado that is not physically
connected with the Double Eagle but is, or could be, used in connection with
the Double Eagle’s operation, the legal description of which is stated on Exhibit
A to this Agreement (the “Off-Site Properties”), together with all
furniture, fixtures and equipment located therein and owned or controlled by
Landlord.

2.             Term.  The term of this Agreement commences upon the
date (the “Commencement Date”) that Tenant opens the Double Eagle as a public
casino under Tenant’s management and then continues for a period of thirty (30)
years (the “Initial Term”). The term of the Agreement may be extended, at
Tenant’s option, for up to an additional fifteen (15) years in the form of
three (3) five-year options (the “Extension Term”), all or any of which Tenant
may exercise by providing Landlord with written notice of Tenant’s intention to
extend the lease term no less than sixty (60) days before expiration of the
Initial Term or any Extension Term.

3.             Use
of Premises.

A.            Tenant may use the
Off-Site Properties for any lawful purpose, including, without limitation, hotel
operations, restaurant operations, parking, retail sales operations, and a
casino as contemplated by the Colorado Limited Gaming Act, C.R.S. §12-47.1-101,
et seq. (the “Gaming Act”) (the Gaming Act and all amendments and
gaming regulations now existing or hereafter adopted, and all gaming-related
laws of the City of Cripple Creek and the County of Teller, are sometimes
collectively referred to in this Agreement as the “Gaming Laws”), and for any
other ancillary or related use(s) as may be permitted by law.  Landlord will have no control over or power
to influence decisions concerning operation of the Premises.

B.            Landlord agrees to
cooperate as reasonably required by Tenant to assist Tenant in obtaining and
maintaining such licenses for the Off-Site Properties as Tenant requires and
will, in particular, execute any and all documents necessary to obtain such
licenses.  Landlord will not cause any
such licenses to be denied, revoked, not renewed, or suspended, whether through
actions of Landlord prior to the issuance of such licenses or thereafter during
the Agreement Term.

C.            Landlord further
agrees that from and after the date the parties execute this Agreement,
Landlord must not grant or convey any easement, lease, encumbrance, license,
permit, or any other legal or beneficial interest in or to the Premises without
the prior written consent of Tenant, nor may Landlord violate, or allow the
violation of, any law, ordinance, rule or regulation affecting the
Premises.  Landlord will do or cause to
be done all things reasonably within its control to preserve intact and
unimpaired any and all rights of way, easements, grants, appurtenances,
privileges, and licenses in favor of or constituting any portion of the
Premises.

D.            Tenant will, at its
own expense, keep the Off-Site Properties in good repair and tenantable
condition and indemnify Landlord against any loss, damage or expense arising by
reason of any failure of Tenant so to keep the Off-Site Properties or due to
any act of neglect of Tenant, its agents, employees, contractors, invitees,
licensees, tenants or assigns.  If Tenant
fails to perform, or cause to be performed, such maintenance and repairs, then
at the option of Landlord, any such maintenance and repair may be performed or
caused to be performed by Landlord, and the reasonable cost and expense thereof
charged to Tenant, and Tenant will pay the amount thereof to Landlord on demand
as additional rent.

E.             Except as otherwise
provided in this Agreement, Tenant will, at its own expense, comply with all
statutes, regulations, rules, ordinances and orders of any governmental body,
department or agency thereof that apply to or result from Tenant’s use or
occupancy of the Off-Site Properties.

 2
 

4.             Improvements
to Off-Site Properties.

A.            Improvements by
Landlord to Off-Site Properties. 
Landlord may, after providing Tenant with at least ninety (90) days
prior written notice, improve or permit the improvement of any portion of the
Off-Site Properties not contiguous with or adjacent to the Double Eagle for any
purpose other than in support of the Double Eagle’s operation, except:

(i)            Landlord may not use
or permit the use of the Off-Site Properties to compete with the Double Eagle
in any way, directly or indirectly, whether for a casino or ancillary casino
facilities or improvements (including, by way of example and without
limitation, parking by or for hotels or casinos other than the Double Eagle) or
otherwise; and

(ii)           If the portion of the
Off-Site Properties to be developed is use by Tenant at the time the notice is
delivered, Landlord must provide Tenant with alternative property (which may or
may not be part of the Off-Site Properties) for Tenant’s use that is reasonably
acceptable to Tenant, at no additional cost to Tenant.

B.            Effect of
Improvements by Landlord.  Any
portion of the Off-Site Properties improved by Landlord in accordance with
Section 4.A. will no longer be subject to this Agreement (except that the
limitation on competitive use under Section 4.A(i) will continue to apply) and Exhibit
A and will be deemed amended by deletion of the legal description of such
property.  Termination of this Agreement
with regard to any portion of the Off-Site Properties in accordance with
Section 4.A. will not affect any other provision of this Agreement.

C.            Improvements by
Tenant.  Tenant is permitted, subject
to Landlord’s prior written approval, to improve any portion of the Off-Site
Properties for any purpose.  If Tenant
improves any portion of the Off-Site Properties as provided in this Section
4.C., Landlord’s right to improve such property under Section 4.A. of this
Agreement terminates.

5.             Quiet
Enjoyment.  So long as Tenant is
not in material, uncured default under this Agreement, Landlord must permit
Tenant to peaceably and quietly use and enjoy the Premises during the Agreement
Term without hindrance or interruption by Landlord or any other person or
persons lawfully or equitably claiming by, through or under Landlord.  Notwithstanding the foregoing, Landlord may
conduct reasonable inspections of the Premises upon providing ten (10) days
prior written notice of such inspection to Tenant.

6.             Casualty
and Restoration of the Premises. 
If the Premises are damaged by fire or other casualty during the
Agreement Term, Tenant may, at its option, (i) terminate the Agreement, retain
such insurance proceeds as relate to improvements made by Tenant on the
Premises before the casualty, and permit use of whatever portion of the
remaining proceeds is necessary to restore the Premises to their condition as
of the

 3
 

Commencement Date
of this Agreement, or (ii) retain all insurance proceeds received as a result
of the casualty, use the same to restore the Premises to their condition as of
the Commencement Date of this Agreement, and continue to this Agreement.  Tenant must notify Landlord in writing within
thirty (30) days following the occurrence of any casualty concerning which of
these two options Tenant has chosen, and rent will abate during the thirty (30)
day period.

7.             Condemnation.  If any portion of the Premises is taken by
right of eminent domain or by condemnation, or is conveyed in lieu of any such
taking, Tenant may terminate this Agreement and retain those condemnation
proceeds that relate to improvements made by Tenant on the Premises before the
taking or condemnation.

8.             Right
of First Refusal. Beginning on the 10th anniversary of the
Commencement Date, if Landlord desires to transfer, assign or otherwise convey
all or any portion of its interest in the Off-Site Properties, whether
initiated by Landlord or by an offer to purchase from a third party, Landlord
must so notify Tenant in writing (the “Notice”), specifying the terms and
conditions and the price at which Landlord intends to offer its interest
(collectively, the “Terms”).  Tenant will
have thirty (30) days (or any longer period stated in any offer received from a
third party) after receipt of the Notice within which to notify Landlord that
Tenant desires to purchase the interest being offered on the Terms.  If Tenant fails to so notify Landlord,
Landlord will be free to consummate a transaction with a third party on the
Terms at any time within the three (3) months immediately following expiration
of Tenant’s notification period without re-offering the transaction to
Tenant.  If no sale occurs with that
three (3) month period, then prior to consummating any transaction, the
provisions of this Section 8 must again be complied with. If Tenant timely
notifies Landlord that Tenant desires to exercise the right to purchase
contemplated by this Section 8, the closing will occur on the Terms within
ninety (90) days of the date of Tenant’s giving such notice.  During the first four years of this
Agreement, Tenant’s right of first refusal as described in this Section 8 will
be subordinate to the right Michael Smith and Gilbert Sisneros to purchase the
Off-Site Properties from CCRI.

9.             Assignment.

A.            By Landlord.  Landlord may assign this Agreement upon
written notice to Tenant, provided that such assignment is permitted by
the Gaming Laws, and further provided that any such assignment is
subject to Tenant’s right of first refusal stated in Section 11 of this
Agreement.

B.            By Tenant.  Tenant may assign this Agreement upon written
notice to Landlord, provided that such assignment is permitted by the
Gaming Laws.

10.          Landlord’s
Additional Representations and Warranties.  Landlord represents and warrants that to the
best of Landlord’s knowledge and belief as of the Commencement Date of this
Agreement:

 4
 

A.            There is no litigation
pending or threatened that in any manner affects the Premises.

B.            There are no
violations of any federal, state, or local law, code, ordinance, rule,
regulation, or requirement affecting the Premises.

C.            The Premises have full
and free access to and from public highways, streets, and/or roads adjacent to
the Premises, and Landlord has no knowledge of any fact or condition that would
result in the termination of such access.

D.            Landlord has not
received any notices, demands, or deficiency comments from any mortgagee of the
Premises or from any state, municipal, or county government or any agency
thereof with regard to the Premises.

E.             Landlord has not
received any notice of, and has no other knowledge or information of, any
pending or contemplated change in any applicable law, ordinance, or
restriction; or of any pending or threatened judicial or administrative action;
or of any action pending or threatened by adjacent landowners; or of any
natural or artificial condition upon the Premises, or any part thereof, any of
which would result in any material change in the condition of the Premises, or
any part thereof, or in any way limit or impede the operation of the Double
Eagle.

F.             Landlord has not
entered into any agreements with the City of Cripple Creek, the County of
Teller, or the State of Colorado, or any other governmental entity with respect
to the Premises that may result in liability or expense to Tenant, and further,
that there are no special improvement assessments relating to the Premises.

G.            Each and every
document, schedule, item and other information to be delivered to Tenant by
Landlord under this Agreement is true, accurate and correct, and no such
document, schedule or information contains or will contain any untrue statement
of a material fact, or omits or will omit a material fact.

11.          Miscellaneous.

A.            No Implied Waiver.  No failure by either party to insist upon the
strict performance of any term, covenant or agreement in this Agreement, or to
exercise any right or remedy in connection with this Agreement, and no
acceptance of full or partial payment during the continuance of any default by
Landlord or Tenant, will constitute a waiver of any term, covenant or agreement
or any right or remedy or any default by Landlord or Tenant.

B.            Survival of
Provisions.  Notwithstanding any
termination of this Agreement, the Agreement will continue in full force and
effect as to any provisions of this Agreement that specifically contemplate and
require observance or performance by Landlord or Tenant subsequent to
termination.

 5
 

C.            Binding Effect.  This Agreement extends to and binds the
heirs, executors, legal representatives, successors, and permitted assign of
Landlord and Tenant.  The terms,
covenants, agreements and conditions in this Agreement must be construed as
covenants running with the Premises.

D.            Recording,
Subordination and Attornment.  This
Agreement and/or any Memorandum of this Agreement may, at Tenant’s sole option,
be recorded in a manner and at a time selected by Tenant in its sole
discretion.  In addition, upon execution
of this Agreement and as a condition precedent to the commencement of the Term
of this Agreement, Landlord must obtain from Landlord’s mortgage lender(s)
subordination and attornment agreements in form and substance satisfactory to
Tenant.

E.             Notices.  All notices required or permitted under this
Agreement must be given by registered or certified mail, return receipt
requested, correctly addressed and postage prepaid, or by hand or commercial
carrier delivery, or by facsimile as follows:

	
  If to Southwest:

  	
  With a copy to:

  
	
  Mr. Thomas E. Fox

  Southwest Casino Corporation

  2001 Killebrew Drive, Suite 350

  Minneapolis, MN 55425

  (952) 853-9990

  	
  Thomas Snook, Esq.

  General Counsel

  Southwest Casino Corporation

  2001 Killebrew Drive, Suite 350

  Minneapolis, MN 55425

  (952) 853-9990

  
	
   

  	
   

  
	
  If to Pinnacle:

  	
  With a copy to:

  
	
  Dorian N. Lange

  2127 University Park Drive

  Suite 300

  Okemos, MI 48864

  (517) 349-7200

  	
  Richard F. Fabiano

  6629 Denham Court SE

  Grand Rapids, MI 49546

  (616) 481-2756

  
	
   

  	
   

  

 

Any notice delivered
by mail in accordance with this section will be deemed to have been duly given
on the third business day after the same is deposited in any post office or
postal box regularly maintained by the United States Postal Service, properly
addressed, postage prepaid.  Any notice
delivered by facsimile will be deemed to have been duly given upon receipt if
receipt is confirmed mechanically or by the recipient.  Any notice delivered by hand or commercial
carrier will be deemed to have been given upon actual receipt.  Either party, by notice given as in this
Agreement provided, may change the address to which future notices may be sent.

F.             Time of the
Essence.  Time is of the essence
under this Agreement for the performance and observance of all obligations of
Landlord and Tenant, and all provisions of this Agreement must be strictly
construed.

 6
 

G.            Disclosure.  Landlord and Tenant agree to fully disclose
the existence of this Agreement to any party requesting information regarding
the business and financial relationship between Landlord and Tenant, including
any party providing financing for the acquisition or operation of the Double
Eagle by Landlord or Tenant.

H.            Captions for
Convenience.  The headings and
captions of this Agreement are for convenience only and must not be considered
in interpreting the provisions of this Agreement.

I.              Severability.  If any provision of this Agreement is held
invalid or unenforceable by a court of competent jurisdiction, the remainder of
the Agreement will not be affected by that holding, it being the intent of the
parties that the provisions of this Agreement are enforceable to the fullest
extent permitted by law.  There is deemed
substituted for any invalid or unenforceable provision a valid and enforceable
provision as similar as possible to the invalid provision.

J.             Venue and
Governing Law.  This Agreement is
governed by and interpreted under the laws of Colorado without reference to
Colorado’s conflicts of law principles, and will be enforced in the courts of
Colorado.

K.            Integration/Entire
Agreement.  This Agreement, the
Exhibits to this Agreement, and the other documents expressly referenced in
this Agreement constitute the entire agreement between the parties concerning
the subject matter of this Agreement, and supersede all prior or
contemporaneous oral or written negotiations, understandings or agreements.

L.             Modification/Amendment.  This Agreement may not be amended, changed or
modified except in a writing signed by all parties.

Signatures
on next page.

 7
 

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

	
  Landlord:

  	
   

  	
  Tenant:

  
	
   

  	
   

  	
   

  
	
  Pinnacle Casinos
  and Resorts, LLC

  	
   

  	
  Southwest Eagle, LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By: 

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Thomas E. Fox,
  President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Colorado Casino
  Resorts, Inc.

  	
   

  	
   

  
	
  (to be executed
  upon acquisition of CCRI

  	
   

  	
   

  
	
  by Pinnacle)

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
								

 

 8

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