Document:

AMENDMENT NO. 1 TO THE AMENDED AND
                    RESTATED AGREEMENT OF LIMITED PARTNERSHIP
                            OF MAMMOTH-PACIFIC, L.P.

     This AMENDMENT NO. 1 TO THE AMENDED AND RESTATED AGREEMENT OF LIMITED
PARTNERSHIP OF MAMMOTH-PACIFIC, L.P. (this "Amendment") by and among CD Mammoth
Lakes I, Inc. ("CD-I"), CD Mammoth Lakes II, Inc. ("CD-II"), Pacific Geothermal
Company ("PGC") and Mammoth Geothermal Company ("MGC").

                              EXPLANATORY STATEMENT

     The purpose of this Amendment is to amend the Amended and Restated
Agreement of Limited Partnership of Mammoth-Pacific, L.P. dated as of January
26, 1990 (the "Agreement") to reflect the conversion of 24% of the total 25%
General Partner Partnership Interest held by CD-I in Mammoth-Pacific, L.P. and
the conversion of the 24% General Partner Partnership Interest held by CD-II in
Mammoth-Pacific, L.P. to a Limited Partner Partnership Interest. After the
conversion, CD-I will own a 1% General Partner Partnership Interest and a 24%
Limited Partner Partnership Interest and CD-II will own a 25% Limited Partner
Partnership Interest in Mammoth-Pacific, L.P. Furthermore, this Amendment
memorializes the December 1990 assignment and assumption of PGC's 49% General
Partner Partnership Interest in Mammoth Pacific, L.P. to MGC.

     NOW, THEREFORE, in order to give effect to the foregoing Explanatory
Statement and in consideration of the mutual covenants contained herein and in
the Agreement, the parties agree as follows:

     1. All capitalized terms not otherwise defined by this Amendment shall have
the meanings ascribed to such terms by the Agreement.

     2. Within Article I, Section 1.1 of the Agreement, amend the definition
of Managing General Partner to read as follows:

     "Managing General Partner shall mean MGC in its capacity as a General
Partner, or such other General Partner appointed as the Managing General
Partner of the Partnership pursuant to Section 4.3."

     3. Within Article I, Section 1.1 of the Agreement, amend the definition of
Partnership Percentage Interest to read as follows:

     "Partnership Percentage Interest shall mean:

          1% in the case of CD-I, in its capacity as a General Partner.
          24% in the case of CD-I, in its capacity as a Limited Partner.
          25% in the case of CD-II, in its capacity as a Limited Partner.
          49% in the case of MGC, in its capacity as a General Partner.
          1% in the case of PGC, in its capacity as a Limited Partner."

     4. Within Article I, Section 1.1 of the Agreement, amend the definition of
PGC Group to read as follows:

     "PGC Group shall mean PGC, MGC and any Affiliate when referred to
collectively."

     5. Amend Article II, Section 2.2 to read as follows:

     "2.2 Partners. CD-I, with respect to its 1% Partnership Percentage
Interest, and MGC, with respect to its 49% Partnership Percentage Interest,
shall each be General Partners in the Partnership. CD-I, with respect to its 24%
Partnership Percentage Interest, CD-II, with respect to its 25% Partnership
Percentage Interest, and PGC, with respect to its 1% Partnership Percentage
Interest, shall each be Limited Partners in the Partnership."

                                       2                             May 9, 1995

     6. Amend Article II, Section 2.6 to change the registered agent from PGC to
MGC.

     7. Amend the second sentence of Article III, Section 3.1.3 to read as
follows:

     "The obligations of the General Partners to comply with the notice from the
Policy Committee to make Partner Loans or additional Capital Contributions shall
be based upon a 50% responsibility therefor by CD-I (in its capacity as General
Partner) and a 50% responsibility therefor by MGC (in its capacity as a General
Partner), with such respective responsibilities to be applicable for so long as
CD-I and MGC remain General Partners and regardless of their respective
Partnership Percentage Interest (or the respective aggregate Partnership
Percentage Interests of the CD Group or PGC Group)."

     8. Amend the first and second sentences of Article IV, Section 4.1 to read
as follows:

     "The management of the Partnership shall be conducted by the Policy
Committee which shall initially consist of two natural persons as members, one
member appointed by CD-I in its capacity as General Partner, and one appointed
by MGC, in its capacity as a General Partner. In addition, CD-I, in its capacity
as General Partner and MGC, in its capacity as General Partner, shall each
appoint one or more alternates to serve as members of the Policy Committee in
the absence of the respective appointed members."

     9. Amend the fourth and fifth sentences of Article IV, Section 4.3 to read
as follows:

     "MGC shall be the Managing General Partner, subject to the continuing
approval of the Policy Committee (by the requisite vote for action by the Policy
Committee as determined pursuant to Section 4.1), which may at any time rescind
such approval. In the event that approval of MGC shall be rescinded, the Policy
Committee shall appoint a General Partner as the Managing General Partner."

                                       3                             May 9, 1995

     10. Amend Article IV, Section 4.8(d) to read as follows:

     "Whether or not MGC shall, at the time, be a Partner, MGC shall (as
compensation for MGC's having made certain payments to SCE pursuant to the G-1
Facility Power Contract for the benefit of the Partnership) be entitled (prior
to the distribution of any Available Cash to any Partners) to a monthly fee
equal to the lesser of the Available Cash attributable to the month (computed
prior to giving effect to the deduction for the fee herein provided for) or the
revenues derived by the Partnership attributable to the sale to SCE in such
month of the first 144,341 kilowatt hours of energy from the G-1 Facility, such
fee to be payable each month during the 240-month period commencing with the
month of January 1996 and ending with the month of December 2015; provided,
however, if by December 31, 2015 the Partnership shall not have delivered,
during said 240-month period, a total of 34,642,000 kilowatt hours from the G-1
Facility to SCE as to which the total revenues derived therefrom have been paid
to MGC as aforesaid, the Partnership shall promptly make a payment to MGC of an
amount equal to: (a) the difference between (x) 34,642,000 kilowatt hours and
(y) the number of actual kilowatt hours delivered by the Partnership to SCE from
the G-1 Facility during the 240-month period from January 1, 1996 through
December 31, 2015 (and as to which kilowatt hours the revenues therefrom have
been paid to MGC), multiplied by (b) $0.03753.

     11. Amend Article IV, Section 4.10 to read as follows:

     "MGC shall be the "tax matters partner" of the Partnership within the
meaning of Section 6231(a)(7) of the Code and shall make such elections and
other decisions for Federal income or other tax purposes as it shall determine;
provided, however, that MGC shall cause the Partnership to: (a) compute its
depreciation deduction for Federal income tax purposes with respect to each
Partnership asset over the shortest recovery period allowable under Section 168
of the Code and for California income tax purposes on a straight line basis to
be mutually agreed upon by all General Partners, (b) compute its depletion
allowances with respect to each geothermal deposit by the method resulting in
the largest deduction, (c) elect to

                                        4                            May 9, 1995

deduct intangible drilling and development costs in accordance with Section
263(c) of the Code, (d) elect to deduct the expenses of organizing the
partnership over a sixty-month period as provided in Section 709 of the Code and
otherwise will not cause the Partnership to make any elections pursuant to this
Section 4.10 without the consent of the other General Partner(s); and, provided,
further, that MGC shall provide each of the General Partners with timely prior
notice of any elections to be made by MGC pursuant to this Section 4.10.

     12. Amend Article IV, Section 4.14(a)(ii) to read as follows:

     "a limited operations and maintenance arrangement with MGC or any
Affiliate, with terms and conditions to be established by the Policy Committee."

     13. Amend Article VII, Section 7.4 to read as follows:

     "7.4 Recharacterization of Fees and Guaranteed Payments. Notwithstanding
the provisions of Section 7.3, in the event that any fees, interest or other
amounts paid or payable to any General Partner or any of its Affiliates pursuant
to this Agreement (including payments to be made to MGC pursuant to Section
4.8(d)) are deducted by the Partnership in reliance on Sections 707(a) or 707(c)
of the Code, and such fees, interest or other amounts are disallowed as
deductions to the Partnership and are recharacterized as Partnership
distributions, then there shall be allocated to such General Partner, prior to
the allocations pursuant to Section 7.3, an amount of Partnership gross income
for the year is which such fees, interest or other amounts are treated as
Partnership distributions an amount equal to such fees, interest or other
amounts treated as distributions."

     14. Amend the second sentence of Article XI, Section 11.10 to read as
follows:

     "If, however, no such settlement is reached in connection with such
dispute, then upon written notice by any Partner, a four member panel comprised
of two directors or members of management of the CD Group and two directors or
members of the management of the PGC

                                        5                            May 9, 1995

Group shall be formed and such panel shall exercise its best efforts to arrive
at an amicable settlement of such dispute."

     15. In all other respects, the Agreement shall remain in full force and
effect.

     16. This Amendment may be executed in one or more duplicate counterparts
and when signed by all of the parties listed below shall constitute a single
binding agreement.

     17. The Partners will execute and deliver such further instruments and do
such further acts and things as may be required to carry out the intent and
purposes of this Amendment.

     18. This Amendment shall be governed and construed in accordance with the
laws of the State of California.

     IN WITNESS WHEREOF, the parties hereto have executed and delivered this
Amendment as of the date set forth above.

          CD MAMMOTH LAKES I, INC.

                                        By: /s/ Illegible
                                            ------------------------------------
                                        Title: Secretary
                                        Date: June 5, 1995
                                        Address: 250 West Pratt Street
                                                 23rd Floor
                                                 Baltimore, MD 21201-2423
                                                 ATTN: Secretary

                                        6                            May 9, 1995

          CD MAMMOTH LAKES II, INC.

                                        By: /s/ Illegible
                                            ------------------------------------
                                        Title: Secretary
                                        Date: June 5, 1995
                                        Address: 250 West Pratt Street
                                                 23rd Floor
                                                 Baltimore, MD 21201-2423
                                                 ATTN: Secretary

                                        MAMMOTH GEOTHERMAL COMPANY

                                        By: /s/ Illegible
                                            ------------------------------------
                                        Title: Vice President
                                        Date: 6/13/95
                                        Address: c/o Pacific Energy
                                                 6055 East Washington Blvd.
                                                 City of Commerce, CA 90040-0092

                                        PACIFIC GEOTHERMAL COMPANY

                                        By: /s/ Illegible
                                            ------------------------------------
                                        Title: Vice President
                                        Date: 6/13/95
                                        Address: c/o Pacific Energy
                                                 6055 East Washington Blvd.
                                                 City of Commerce, CA 90040-0092

                                        7                            May 9, 1995AUTHORIZATION, DIRECTION AND TERMINATION AGREEMENT

      This AUTHORIZATION, DIRECTION, AND TERMINATION AGREEMENT (this
"Agreement"), is made and entered into by and among BNY WESTERN TRUST COMPANY, a
California banking corporation ("Lease Trustee"), not in its individual capacity
but solely as successor Lease Trustee under the Lease Trust Agreement (as
defined below), SRT, INC., a Nevada corporation ("Resource Trustee"), not in its
individual capacity but solely as successor Resource Trustee under the Resource
Trust Agreement (as defined below), and STEAMBOAT DEVELOPMENT CORP., a Utah
corporation ("Steamboat"); Lease Trustee, Resource Trustee and Steamboat are
referred to in this Agreement individually as a "Party" and collectively as the
"Parties".

                                    RECITALS

      A.  Steamboat, First Interstate Bank of Nevada, N.A., a national banking
association ("Original Lease Trustee"), not individually but in its capacity as
Trustee under the Construction Trust Agreements and the Lease Trust Agreement,
and General Electric Capital Corporation, a Delaware corporation ("GECC")
entered into that certain First Amended and Restated Financing Agreement dated
as of December 31, 1992 (the "Financing Agreement"), in connection with a
sale/leaseback transaction (the "Sale-Leaseback") for the repayment of a Loan
from GECC for the construction of the Geothermal Plants. Unless the context
otherwise requires or unless otherwise expressly provided herein, capitalized
terms used but not defined herein shall have the meanings assigned to them in
Appendix A to the Financing Agreement and are hereby incorporated by this
reference.

      B.  Pursuant to the Financing Agreement, Lease Trustee acquired for the
benefit of GECC the Lease Trust Estate, including the Facilities, the applicable
Operative Documents and all other property contributed by GECC under or pursuant
to that certain First Amended and Restated Steamboat II and III Lease Trust
Agreement (the "Lease Trust Agreement") between GECC and Lease Trustee, dated as
of December 31, 1992.

      C.  Pursuant to the Financing Agreement, Edward E. Hale ("Original
Resource Trustee") not in his individual capacity but solely as trustee under
that certain Resource Trust Agreement (the "Resource Trust Agreement") between
Steamboat and Resource Trustee dated as of December 31, 1992, acquired for the
benefit of Steamboat the Resource Trust Estate, including the Premises, the
Geothermal Leases, the Wellfield Contract and all other property contributed by
Steamboat under or pursuant to Resource Trust Agreement.

      D.  Pursuant to the Financing Agreement, Resource Trustee leased the
Premises to Lease Trustee pursuant to that certain Headlease Agreement (the
"Headlease") dated as of December 31, 1992.

      E.  Pursuant to the Financing Agreement, Lease Trustee leased the Premises
and the Facilities to Steamboat pursuant to the terms and conditions of that
certain Master Lease and Sublease Agreement (the "Master Lease") dated as of
December 31, 1992.

      F.  Pursuant to the Financing Agreement, the Resource Trustee's right,
title, estate and interest in, under and to the Resource Trust Estate were
granted by Original Resource Trustee to Lease Trustee, as beneficiary, under
that certain Resource Deed of Trust, Assignment of Rents, Security Agreement and
Fixture Filing (the "Resource Deed of Trust"), dated December 31, 1992, recorded
on December 31, 1992 in Book No. 3644, page 251 as Instrument No. 1634615,
records of Washoe County, Nevada, to secure the obligations of Resource Trustee
under the Headlease and of Steamboat under the Master Lease.

      G.  Pursuant to that certain Order for Modification of Resource Trust
Agreement and to Order Appointing Successor Resource Trustee, dated February 13,
2004, under Washoe County Case No. CV0400372, Resource Trustee agreed to serve
as the Resource Trustee under the Resource Trust Agreement, as successor to the
Original Resource Trustee, in accordance with that certain Resource Trustee
Appointment Acceptance Agreement, dated as of February 12, 2004, between
Steamboat and Resource Trustee.

      H.  Pursuant to that certain Purchase Agreement dated as of January 26,
2004 (the "Purchase Agreement") by and between GECC and Ormat Technologies,
Inc., a Nevada corporation ("Ormat"), Ormat acquired (i) all of GECC's right,
title and interest in and to the Assigned Agreements (as defined under that
certain Assignment and Assumption Agreement dated as of February 13, 2004, by
and between GECC and Ormat), including, without limitation, the Lease Trust
Agreement and the Resource Trust Agreement, and (ii) all of GECC's beneficial
right, title and interest in and to the Lease Trust Estate (the "Beneficial
Interest"), and Ormat assumed all of the rights and obligations of GECC under
the Assigned Agreements.

      I.  Immediately after the closing of Ormat's acquisition of the Assigned
Agreements and Beneficial Interest from GECC, pursuant to that certain
Assignment and Assumption Agreement, dated as of February 13, 2004, by and
between Ormat and Steamboat, Ormat assigned all of its right, title and interest
in, under and with respect to the Assigned Agreements and Beneficial Interest to
Steamboat, and Steamboat assumed all of the obligations of Ormat under the
Assigned Agreements and with respect to the Beneficial Interest.

      J.  Steamboat is currently the sole beneficiary of the Lease Trust Estate
under the Lease Trust Agreement and the Resource Trust Estate under the Resource
Trust Agreement.

      K.  Steamboat desires to, and to cause Lease Trustee to, terminate the
Lease Trust Agreement, each of the Terminated Documents (as defined below) and
Other Terminated Documents (as defined below) to which Lease Trustee is a party,
and any security interests created pursuant to the Lease Trust Agreement, and to
cause Lease Trustee to transfer to Steamboat all of Lease Trustee's interests in
the Lease Trust Estate under the Lease Trust Agreement.

      L.  Steamboat desires to, and to cause Resource Trustee to, terminate the
Resource Trust Agreement, each of the Terminated Documents and Other Terminated
Documents to which Resource Trustee is a party, and any security interests
created pursuant to the Resource Trust

                                        2

Agreement, and to cause Resource Trustee to transfer to Steamboat all of
Resource Trustee's interests in the Resource Trust Estate under the Resource
Trust Agreement.

      NOW, THEREFORE, in consideration of the foregoing, and for other good and
valuable consideration the receipt and sufficiency of which are hereby
acknowledged, the Parties hereby agree as follows:

                                    AGREEMENT

      1.    INSTRUCTIONS TO LEASE TRUSTEE

      Pursuant to Section 5.2 of the Lease Trust Agreement, Steamboat, as
successor to and assignee of GECC under the Lease Trust Agreement, hereby
authorizes and instructs Lease Trustee to execute and deliver this Agreement
and, as of the Effective Date, each of the documents listed on Schedule 1 to
which Lease Trustee is a party (collectively, the "Transfer and Termination
Documents") and such other agreements, documents or instruments as Steamboat may
from time to time reasonably request in accordance with Section 6 of this
Agreement in order to carry out the intent and purposes of this Agreement.

      2.    INSTRUCTIONS TO RESOURCE TRUSTEE

      Pursuant to Section 5.2 of the Resource Trust Agreement, Steamboat hereby
authorizes and instructs Resource Trustee to execute and deliver this Agreement
and, as of the Effective Date, each of the Transfer and Termination Documents
listed on Schedule 1 to which Resource Trustee is a party and such other
agreements, documents or instruments as Steamboat may from time to time
reasonably request in accordance with Section 6 of this Agreement in order to
carry out the intent and purposes of this Agreement.

      3.    TERMINATION OF LEASE TRUST AGREEMENT

            3.1   As of the Effective Date, the Lease Trust Agreement and the
trusts created thereby shall terminate, the Lease Trustee shall transfer, convey
and assign any property remaining in the Lease Trust Estate to Steamboat, and
the Lease Trust Agreement shall be of no further force and effect, except for
Sections 5.3 and 7.1 of the Lease Trust Agreement and rights under the Lease
Trust Agreement that expressly are intended to survive the termination of the
Lease Trust Agreement.

            3.2   As of the Effective Date, Steamboat hereby (i) assumes all of
the obligations, and the payment of all fees and expenses, of Lease Trustee
under or contemplated by the Operative Documents and all other obligations of
Lease Trustee incurred by it as trustee under the Lease Trust Agreement, and
(ii) confirms its obligation to indemnify Lease Trustee in accordance with
Sections 5.3 and 7.1 of the Lease Trust Agreement notwithstanding the
termination of the Lease Trust Agreement.

            3.3   Steamboat hereby confirms that the requirements of Article 8
of the Lease Trust Agreement have been satisfied and shall not prevent the
termination of the Lease Trust Agreement and the trusts created thereby pursuant
to this Agreement. Lease Trustee hereby

                                        3

confirms that, to its knowledge, the requirements of Article 8 of the Lease
Trust Agreement have been satisfied and shall not prevent the termination of the
Lease Trust Agreement and the trusts created thereby pursuant to this Agreement.

            3.4   Lease Trustee (whether acting as trustee hereunder or as a
lessor or in its individual capacity) makes no representation or warranty to any
party hereto as to (i) the validity or enforceability of any of the Terminated
Documents (as defined below), the Other Terminated Documents (as defined below),
the Transfer and Termination Documents, or any other document delivered in
connection therewith, or any compliance with any of the terms and provisions
thereof to properly effectuate the transactions described therein, or (ii) the
rights and obligations being transferred pursuant to the applicable Transfer and
Termination Documents. Notwithstanding the foregoing, Lease Trustee hereby
represents that it has been given proper instruction to execute and deliver this
Agreement and that this Agreement and each of such other documents that
contemplates execution thereof by Lease Trustee has been or will be executed and
delivered by its officers who are or will be duly authorized to execute and
deliver such documents on its behalf.

            3.5   Each of Steamboat and Lease Trustee hereby agrees that, by
their execution hereof, this Agreement shall be treated as an amendment to the
terms of the Lease Trust Agreement and shall govern to the extent any terms
contained in this Agreement are inconsistent with the terms of the Lease Trust
Agreement.

      4.    Termination of Resource Trust Agreement

            4.1   As of the Effective Date, the Resource Trust Agreement and the
trusts created thereby shall terminate, the Resource Trustee shall transfer,
convey and assign any property remaining in the Resource Trust Estate to
Steamboat, and the Resource Trust Agreement shall be of no further force and
effect, except for Sections 5.3 and 7.1 of the Resource Trust Agreement and
rights under the Resource Trust Agreement that expressly are intended to survive
the termination of the Resource Trust Agreement.

            4.2   As of the Effective Date, Steamboat hereby (i) assumes all of
the obligations, and the payment of all fees and expenses, of Resource Trustee
under or contemplated by the Operative Documents and all other obligations of
Resource Trustee incurred by it as trustee under the Resource Trust Agreement,
and (ii) confirms its obligation to indemnify Resource Trustee in accordance
with Sections 5.3 and 7.1 of the Resource Trust Agreement notwithstanding the
termination of the Resource Trust Agreement.

            4.3   Steamboat hereby agrees that the requirements of Article 8 of
the Resource Trust Agreement have been satisfied and shall not prevent the
termination of the Resource Trust Agreement and the trusts created thereby
pursuant to this Agreement. Resource Trustee hereby agrees that, to its
knowledge, the requirements of Article 8 of the Resource Trust Agreement have
been satisfied and shall not prevent the termination of the Resource Trust
Agreement and the trusts created thereby pursuant to this Agreement.

                                        4

            4.4   Resource Trustee (whether acting as trustee hereunder or as a
lessor or in its individual capacity) makes no representation or warranty to any
party hereto as to (i) the validity or enforceability of any of the Terminated
Documents, the Other Terminated Documents, the Transfer and Termination
Documents, or any other document delivered in connection therewith, or any
compliance with any of the terms and provisions thereof to properly effectuate
the transactions described therein, or (ii) the rights and obligations being
transferred pursuant to the applicable Transfer and Termination Documents.
Notwithstanding the foregoing, Resource Trustee hereby represents that it has
been given proper instruction to execute and deliver this Agreement and that
this Agreement and each of such other documents that contemplates execution
thereof by Resource Trustee has been or will be executed and delivered by its
officers who are or will be duly authorized to execute and deliver such
documents on its behalf.

            4.5   Each of Steamboat and Resource Trustee hereby agrees that, by
their execution hereof, this Agreement shall be treated as an amendment to the
terms of the Resource Trust Agreement and shall govern to the extent any terms
contained in this Agreement are inconsistent with the terms of the Resource
Trust Agreement.

      5.    TERMINATION OF TERMINATED DOCUMENTS

            5.1   Terminated Documents. Each Party hereby acknowledges and
agrees that, as of the Effective Date, (a) each Terminated Document listed in
Schedule 2 (the "Terminated Documents") to which it is a party (whether by way
of assignment, succession, or otherwise) shall be terminated and that none of
the Persons party to each such Terminated Document shall have any further rights
or obligations pursuant to each such Terminated Document, (b) it and each other
Party shall no longer have any Lien in any of the collateral or other property
referred to in any of the Terminated Documents, and (c) all such collateral and
other property in its or its agents' possession, if any, shall be assigned,
transferred, and delivered to the appropriate Person.

            5.2   Other Terminated Documents. Each Party hereby agrees that, as
of the Effective Date, (a) any and all other financing (including lease
financing) and security contracts, agreements, and documents entered into in
connection with the Sale-Leaseback, including all amendments and modifications
thereto, to which it is a party (whether by way of assignment, succession, or
otherwise) (collectively, the "Other Terminated Documents") shall be terminated
and that none of the Persons party to each such Other Terminated Document shall
have any further rights or obligations pursuant to each such Other Terminated
Document, (b) it and each other Party shall no longer have any Lien in any of
the collateral or other property referred to in any of the Other Terminated
Documents, and (c) all such collateral and other property in its or its agents'
possession, if any, shall be assigned, transferred, and delivered to the
appropriate Person.

            5.3   Termination of Security Instruments. Without limiting the
generality of the foregoing, Lease Trustee hereby acknowledges that the Resource
Deed of Trust shall be reconveyed upon Steamboat's delivery of the Request for
Full Reconveyance to the Trustee under the Resource Deed of Trust and that
Steamboat may file such termination statements and other instruments as are
necessary to terminate the UCC filings listed in Schedule 3.

                                        5

      6.    FURTHER ASSURANCES

      Upon the reasonable request of a Party at any time after the Closing Date,
each Party shall exercise commercially reasonable efforts to execute and
deliver, without representation, warranty or recourse, such further instruments
of assignment, transfer, conveyance, termination, endorsement, direction or
authorization and other documents, whether supplemental, confirmatory, or
otherwise, as the requesting Party may reasonably request in order to carry out
the intent and purposes of this Agreement and each of the Transfer and
Termination Documents.

      7.    MISCELLANEOUS

            7.1   Notices. All notifications, notices, demands, requests, and
other communications herein provided for or made pursuant hereto shall be in
writing and shall be sent by (i) reputable overnight delivery service and the
giving of such communication shall be deemed complete on the immediately
succeeding business day after the same is deposited with such delivery service,
(ii) by legible fax with the original copy thereof to follow promptly by
reputable overnight delivery service and the giving of such communication shall
be complete on the business day on which the original copy is received, or (iii)
by certified mail, with return receipt requested, and the giving of such
communication shall be deemed complete on the business day on which it is
received, in each case to the address for each Party set forth below. Any Party
may change the address at which it wishes to receive notices by written notice
given in accordance herewith to all other Parties at their addresses set forth
below.

      If to Lease Trustee:

                             BNY Western Trust Company
                             700 South Flower Street, Suite 500
                             Los Angeles, California 90017
                             Attn: Lisa Stroud, Assistant Vice President
                             Fax: 213-630-6480

      With a copy to:        Smith Larsen and Wixom
                             1935 Village Center Circle
                             Las Vegas, NV 89134
                             Attn: Michael Wixom
                             Fax: 702-252-5006

      If to Resource Trustee:

                             SRT, Inc.
                             179 South La Verne Street
                             Fallon, NV 89406
                             Attention: Steven D. King, President
                             Fax: 775-423-3550

                                        6

      If to Steamboat:

                             Steamboat Development Corp.
                             980 Greg Street
                             Sparks, NV 89341
                             Attention: President
                             Fax: 775-356-9039

      With a copy to:        Perkins Coie LLP
                             10885 N.E. Fourth Street
                             Suite 700
                             Bellevue, WA 98004-5579
                             Attention: Bruce E. Dick
                             Fax: 425-635-2409

            8.2   Entire Agreement. This Agreement, together with the Transfer
and Termination Documents, constitutes, on and as of the date hereof, the entire
agreement of the Parties with respect to the subject matter hereof, and all
prior or contemporaneous understandings or agreements, whether written or oral,
among the Parties with respect to the subject matter hereof are hereby
superseded in their entirety. Nothing in this Agreement, expressed or implied,
is intended to confer upon any Person other than the Parties any rights,
remedies, obligations, or liabilities under or by reason of this Agreement.

            8.3   Amendments and Waivers. No amendment, modification,
termination, or waiver of any provision of this Agreement, or consent to any
departure by any Party therefrom, shall in any event be effective without the
written concurrence of each of the Parties. Any waiver or consent shall be
effective only in the specific instance and for the specific purpose for which
it was given.

            8.4   Severability. If any provision of this Agreement shall be held
by any court of competent jurisdiction to be invalid, illegal or unenforceable
under applicable law, then such provision shall be deemed reformed or omitted to
the extent determined by such court (i.e., with the objective of preserving the
intent of such provision to the extent permitted by applicable law). In any
event, the remaining provisions of this Agreement shall remain valid and
enforceable.

            8.5   Successors and Assigns. The provisions of this Agreement shall
be binding upon and inure to the benefit of the Parties and their respective
successors and assigns.

            8.6   GOVERNING LAW. THIS AGREEMENT SHALL IN ALL RESPECTS BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEVADA,
APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED IN SUCH STATE.

            8.7   Headings. Section and title headings in this Agreement are for
descriptive purposes only and shall not control or alter the meaning of this
Agreement as set forth in the text.

                                        7

            8.8   Counterparts; Facsimile Transmission. This Agreement may be
executed in separate counterparts, each of which when so executed shall be
deemed to be an original and all of which taken together shall constitute one
and the same agreement. Facsimile transmission of any signed original document
and/or retransmission of any signed facsimile transmission will be deemed the
same as delivery of an original. At the request of any party, the parties will
confirm facsimile transmission by signing a duplicate original document.

            8.9   Effective Date. The terminations, transfers and other
transactions contemplated under this Agreement shall be deemed effective (the
"Effective Date") as of the date designated by Steamboat by written notice to
Lease Trustee and Resource Trustee within three (3) business days after the last
date of a Party's execution of this Agreement as set forth below. The
Termination and Transfer Documents shall be dated as of the Effective Date.

                           [Signature page follows.]

                                        8

      IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of
the last date of a Parties signature below.

                                  BNY WESTERN TRUST COMPANY

                                  By: /s/ Lisa Stroud
                                      ----------------------------------------
                                  Name:  Lisa Stroud
                                        --------------------------------------
                                  Title: Assistant Vice President
                                        --------------------------------------
                                  Dated: October 12, 2004
                                        --------------------------------------

                                  SRT, INC.

                                  By: /s/ Steven D. King
                                      ----------------------------------------
                                  Name:  Steven D. King
                                        --------------------------------------
                                  Title: President
                                        --------------------------------------
                                  Dated: September 30, 2004
                                        --------------------------------------

                                  STEAMBOAT DEVELOPMENT CORP.

                                  By: /s/ Connie Stechman
                                      ----------------------------------------
                                  Name:  Connie Stechman
                                        --------------------------------------
                                  Title: Assistant Secretary
                                        --------------------------------------
                                  Dated: September 16, 2004
                                        --------------------------------------

                                        9

                                   Schedule 1

                       Transfer and Termination Documents

1.  Bill of Sale and Assignment, dated as of the Effective Date, between Lease
    Trustee and Steamboat for the transfer, assignment and conveyance of Lease
    Trust Estate.

2.  Request for Full Reconveyance of Resource Deed of Trust by Lease Trustee.

3.  Quitclaim Deed dated as of the Effective Date, by Lease Trustee in favor of
    Steamboat for the transfer, assignment and conveyance of Lease Trust
    Estate.

4.  Termination of Master Lease, dated as of the Effective Date, between
    Steamboat and Lease Trustee.

5.  Termination of Headlease, dated as of the Effective Date, between Resource
    Trustee and Lease Trustee.

6.  Assignment of Sublease, dated as of the Effective Date, between Resource
    Trustee and Steamboat.

7.  Bill of Sale and Assignment, dated as of the Effective Date, between
    Resource Trustee and Steamboat for the transfer, assignment and conveyance
    of Resource Trust Estate.

8.  Quitclaim Deed, dated as of the Effective Date, by Resource Trustee in
    favor of Steamboat for the transfer, assignment and conveyance of Resource
    Trust Estate.

                                   Schedule 2

                              Terminated Documents

1.  Financing Agreement

2.  Escrow Agreement

3.  Headlease

4.  Master Lease

5.  Resource Deed of Trust

6.  UCC Financing Statements listed in Schedule 3 hereto

                                   Schedule 3

                            UCC Financing Statements

DEBTOR NAME                        JURISDICTION        FILE NUMBER         FILE DATE       SECURED PARTY*
-----------                        ------------        ------------        ----------      --------------

Steamboat    Development               Utah            55474200133         10-28-1991      General Electric Capital
Corp                                                                                       Corporation

Steamboat    Development               Utah            55475200126         10-28-1991      General Electric Capital
Corp                                                                                       Corporation

Steamboat    Development               Utah            111613200121        3-4-1998        General Electric Capital
Corp                                                                                       Corporation

                                                                                           BNY Western Trust Company

Steamboat    Development               Utah            111615200123        3-4-1998        General Electric Capital
Corp                                                                                       Corporation

Steamboat    Development               Utah            171780200130        10-22-2001      General Electric Capital
Corp                                                                                       Corporation

Steamboat    Development               Utah            171778200136        10-22-2001      General Electric Capital
Corp                                                                                       Corporation

Steamboat    Development               Utah            179012200228        1-25-2002       BNY Western Trust Company
Corp
                                                                                           General Electric Capital
                                                                                           Corporation

Steamboat    Development               Utah            179013200229        1-25-2002       BNY Western Trust Company
Corp
                                                                                           General Electric Capital
                                                                                           Corporation

Steamboat    Development               Utah            206245200329        12-31-2002      BNY Western Trust Company
Corp
                                                                                           General Electric Capital
                                                                                           Corporation

Steamboat    Development               Utah            211061200318        3-3-2003        General Electric Capital
Corp                                                                                       Corporation

Steamboat    Development               Utah            211062200319        3-3-2003        General Electric Capital
Corp                                                                                       Corporation

Steamboat    Development              Washoe           1634616             12-31-1992      First Interstate Bank of Nevada
Corp                              County, Nevada
                                                                                           General Electric Capital Corporation

__________________________

* General Electric Capital Corporation's interest as secured party has been
  assigned to Steamboat Development Corp.

Steamboat    Development              Washoe           1634617             12-31-1992      First Interstate Bank of Nevada
Corp                              County, Nevada
                                                                                           General Electric Capital Corporation

Steamboat    Development              Nevada           UTL 9100017         10-28-1991      General Electric Capital Corporation
Corp

Steamboat    Development              Nevada           UTL 9200032         12-31-1992      General Electric Capital Corporation
Corp
                                                                                           First Interstate Bank of Nevada

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00076-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00076-of-00352.parquet"}]]