Document:

AMENDMENT
TO ASSET PURCHASE AGREEMENT

     

    This
AMENDMENT TO ASSET PURCHASE AGREEMENT (this “Amendment”), dated as
of July 20, 2010, is made by and between NG Washington II, LLC, a Washington
limited liability company (“Buyer”), and Grant
Thornton Limited, in its capacity as court-appointed receiver and not in its
personal capacity (the “Receiver”) for Big
Nevada, Inc., a Washington corporation, Gameco, Inc., a Washington corporation,
Gaming Consultants, Inc., a Washington corporation, Gaming Management, Inc., a
Washington corporation, Golden Nugget Tukwila, Inc., a Washington corporation,
Hollydrift Gaming, Inc., a Washington corporation, Little Nevada, Inc., a
Washington corporation, Mill Creek Gaming, Inc., a Washington corporation, Royal
Casino Holdings, Inc., a Washington corporation, and Silver Dollar Mill Creek,
Inc., a Washington corporation.  Capitalized terms used and not
otherwise defined in this Amendment shall have the meanings ascribed to them in
the Purchase Agreement (as defined below).

     

    RECITALS

     

    A.           Buyer
and the Receiver are parties to that certain Asset Purchase Agreement dated as
of April  14, 2010 (the “Purchase Agreement”),
pursuant to which the Receiver agreed to sell to Buyer, and Buyer agreed to
purchase and acquire from the Receiver the Purchased Assets and to take an
assignment of and assume from the Receiver the Assumed Liabilities.

     

    B.           Buyer
and the Receiver wish to amend the Purchase Agreement as provided herein, in
accordance with Section 13.9 of the Purchase Agreement and Paragraph 32 of the
U.S. Approval Order, and subject to the rights and obligations of the Receiver
granted to it pursuant to the Approval Orders, other applicable orders of the
Canadian Court and the Bankruptcy Court, and under applicable federal, state and
local laws, rules and regulations.

     

    AGREEMENT

     

    In
consideration of the foregoing and the mutual covenants herein contained, Buyer
and the Receiver agree to amend the Purchase Agreement as follows:

     

    1.           Amendment Concerning SD Tukwila
Casino.  The Purchase Agreement shall be amended as set forth
in this Section
1 to reflect that the SD Tukwila Casino will not be purchased by
Buyer.  Accordingly:

     

    1.1           Schedule H referenced
in Recital H of the Purchase Agreement shall be deleted in its entirety and
replaced with Schedule
H attached hereto.

     

    1.2           Schedule 2.1 of the
Purchase Agreement shall be deleted in its entirety and replaced with Schedule 2.1 attached
hereto.

     

    1.3           Schedule 2.2 of the
Purchase Agreement shall be deleted in its entirety and replaced with Schedule 2.2 attached
hereto.

     

    1.4           Schedule 2.3(a) of
the Purchase Agreement shall be deleted in its entirety and replaced with Schedule 2.3(a)
attached hereto.

     

    1.5           Schedule 2.6(b) of
the Purchase Agreement shall be deleted in its entirety and replaced with Schedule 2.6(b)
attached hereto.

     

    1.6           The
first sentence in Section 2.6(b)(iv)(B) of the Purchase Agreement shall be
deleted in its entirety and replaced with the following:

     

    The
Casino, if any, not acquired by Buyer pursuant to clause 2.6(b)(A)(y), and the
Club Hollywood Casino, shall each be sold to Buyer, on and subject to the terms
and conditions hereof, but only concurrently with, or after, Buyer’s acquisition
of the Casinos and other Purchased Assets referred to in clause 2.6(b)(A), in
any order and pursuant to one or more Extension Closings.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    1.7           Schedule 3.5(a) to
the Purchase Agreement shall be deleted in its entirety and replaced with Schedule 3.5(a)
attached hereto.

     

    1.8           The
following sentence shall be inserted immediately prior to the last sentence of
Section 9.7(a) of the Purchase Agreement:

     

    Furthermore,
commencing as of the Closing or the Extension Closing, as applicable, and
continuing for a period of at least six (6) months thereafter, Buyer shall hire
and retain at least ten (10) employees from Little Nevada’s operation at the
Silver Dollar Tukwila Casino in Tukwila, Washington (the “SD Tukwila Casino”)
on terms and conditions substantially equivalent to the terms and conditions on
which such persons are then employed by the SD Tukwila Casino; provided,
however, that the Buyer shall do so solely at the request and for the
convenience of Receiver and shall not incur any liability or obligation
whatsoever in connection therewith (other than the hiring and retention
obligations set forth in this sentence) or in connection with any action the
Receiver takes with respect to the SD Tukwila Casino, including any liability or
obligation for claims by any Person which may be related to or derive from such
action.

     

    2.           References.  All
references to “this Agreement” in the Purchase Agreement, or otherwise to the
Purchase Agreement in any of the Schedules or Exhibits thereto, shall mean the
Purchase Agreement as amended by this Amendment. References in the Purchase
Agreement to provisions “herein” or attachments “hereto” shall include the
provisions of this Amendment.

     

    3.           Entire
Agreement.  This Amendment, together with the Purchase
Agreement, constitutes the entire agreement between the Parties and supersedes
any prior understandings, agreements, or representations by or between the
Parties, written or oral, to the extent they relate in any way to the subject
matter hereof.

     

    4.           No Other
Amendments.  Except as specifically amended hereby, the terms
of the Purchase Agreement remain and continue in full force and effect and are
hereby confirmed in all respects.

     

    5.           Counterparts; Facsimile;
Email.  This Amendment may be signed in counterparts, each of
which will be deemed to be an original copy and all of which will form a single
agreement.  Signatures required for this Amendment may be made by
facsimile and/or email and shall have the same force and effect of written
signatures.

     

    [Signatures
are on the following page]

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, the parties have executed and delivered this Amendment to the
Purchase Agreement as of the date first written above.

     

    BUYER:

     

    NG
WASHINGTON II, LLC

     

    By:  /s/
Robert B. Sturges

     

    Name:
Robert B. Sturges

     

    Title:
Manager

     

    RECEIVER:

     

    GRANT THORNTON LIMITED in its
capacity as interim receiver

    and
receiver and manager of the Companies, and not in its personal
capacity

     

    By:  /s/
Mark Wentzell

     

    Name:
Mark Wentzell, CA, CIRP

     

    Title:
Senior Vice President

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    FORTRESS:

    

    FORTRESS CREDIT
CORP.,

    individually
and in its capacity as Agent

    for FCO
and FCF

    

    By: /s/
Marc K. Furstein

    

    Name:
Marc K. Furstein

    

    Title:
Chief Operating Officer

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Schedule
H

    Businesses

    

    Big
Nevada operates the Silver Dollar Casino in Sea-Tac, Washington (the “Sea-Tac
Casino”).

    

    Golden
Nugget operates the Golden Nugget Casino in Tukwila, Washington (the “GN Tukwila
Casino”).

    

    Hollydrift
operates the Club Hollywood Casino (the “Club Hollywood
Casino”) in Shoreline, Washington.

    

    Little
Nevada operates the Silver Dollar Casino in Renton, Washington (the “Renton
Casino”).

    

    RCH
operates the Royal Casino Everett, Washington (the “Royal
Casino”).

    

    Silver
Dollar operates the Silver Dollar Casino in Millcreek, Washington (the “Millcreek
Casino”).  Assets owned by Mill Creek are utilized at the
Millcreek Casino.

    

    Each of
the above-described casinos is a house-banked card room casino with restaurant
and bar operations.  The Sea-Tac Casino, GN Tukwila Casino, Club
Hollywood Casino, Renton Casino, Royal Casino and Millcreek Casino are referred
to collectively as the “Casinos” and
individually as a “Casino”.

    

    Each of
Gameco, Gaming Management and Gaming Consultants distributes gaming-related
products and supplies gaming-related services to the Companies and other
subsidiaries of Evergreen.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Schedule
2.1

    

    Purchased
Assets

    

    (See
Attached)

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Schedule
2.2

    

    Additional
Excluded Assets

    

    
      
        	
                1.

              	
                Progressive
      jackpot funds held by any of the Companies pursuant to Sections 230-15-680
      through 230-15-720 of the Washington Administrative
  Code.

              

      

    

     

    
      
        	
                2.

              	
                Any
      other bonus jackpots in connection with any game at any
      Casino.

              

      

    

     

    
      
        	
                3.

              	
                Current
      Assets that the Receiver and Buyer mutually agree to exclude from the
      calculation of the Working Capital for any
  Casino.

              

      

    

     

    
      
        	
                4.

              	
                All
      the properties, assets and rights used in the operation of the SD Tukwila
      Casino.

              

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Schedule
2.3(a)

    

    List
of Assumed Real Property Leases

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          	
                                  Casino/Company

                                	 	
                                  Assumed Real Property Lease(s)

                                	 	
                                  Known Cure Cost

                                	 
	
                                  Sea-Tac
      Casino

                                	 	
                                  192nd
      Pacific Properties Lease, effective June 1, 2002, between 192nd Pacific
      Properties L.L.C. and Roy R. Toland and Audrey V. Toland and Big Nevada,
      Inc. d/b/a “The Silver Dollar Casino”.

                                	 	$	0.00	 
	
                                  GN
      Tukwila Casino

                                	 	
                                  Golden
      Nugget Casino Lease, dated November 29, 2004, between Bruce Fehling and
      Yong Hui Fehling and Golden Nugget Tukwila, Inc. (formerly Vormsberg
      Company).

                                	 	$	0.00	 
	
                                  Millcreek
      Casino

                                	 	
                                  Lease
      Agreement, dated December 3, 2001, between Colin W. & Merlyna M.
      Radford and Tri-Western Syndicated Investment Co. dba Tri West North Creek
      Partnership and Timothy B. and Michael E. Iszley dba Golden Nugget Casino,
      as modified by Addendum A to Lease, dated December 3, 2001, First
      Amendment to Lease, dated April 15, 2002, Second Amendment to Lease,
      undated, Third Amendment to Lease, undated, Fourth Amendment to Lease,
      dated August 15, 2003, and Fifth Lease Amendment, dated June 3, 2004,
      between Tri West North Creek Partnership and Timothy B. Iszley and Michael
      Iszley d/b/a Golden Nugget Casino.  (Wallace Properties - Mill
      Creek, LLC, is successor in interest to original landlord and Silver
      Dollar Mill Creek, Inc. is successor in interest to original
      tenant.)

                                	 	$	0.00	 
	
                                  Club
      Hollywood Casino

                                	 	
                                  Commercial
      Premises Lease, dated March 5, 2007, between Old 99 Property Group, L.L.C.
      and Hollydrift Gaming, Inc. d/b/a Club Hollywood.

                                   

                                  Commercial
      Premises Lease (Parking Lot), dated March 5, 2007, between Old 99 Property
      Group, L.L.C. and Hollydrift Gaming, Inc. d/b/a Club
      Hollywood.

                                	 	$	2,386.32	
                                  
                                    
                                            
                                        1
 

                                       

                                    

                                  

                                
	
                                  Renton
      Casino

                                	 	
                                  Lease
      Agreement, dated March 8, 2004, between Little Family, LLC and Little
      Nevada, Inc.

                                   

                                  Sublease
      Agreement, dated December 21, 2007, between Little Nevada, Inc. and Ruth
      Dykeman Children’s Center, as amended by Amendment to Sublease Agreement,
      effective December 1, 2008.

                                	 	$	0.00	 
	
                                  Royal
      Casino

                                	 	
                                  Commercial
      Premises Lease, dated December 22, 2006, between Allen and Sharon Hemmat
      and Royal Casino Holdings, Inc.

                                	 	$	0.00	 

                        

                      

                    

                  

                

              

            

          

        

      

    

     

      
        
          

        

      

      1 To be
allocated between the two leases for Club Hollywood
Casino.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Schedule
2.6(b)

    

    Payment
of Balance of Base Consideration Amount

     

    1.            If
an initial Closing occurs and the Purchased Assets sold to Buyer at such Closing
do not include
all of the Purchased Assets, then the amount payable by Buyer at such initial
Closing pursuant to Section 3.1(b) shall be reduced by the following amount or
amounts:

     

    (a)           If
the Purchased Assets sold at such initial Closing do not include the Purchased
Assets relating to the Sea-Tac Casino, then the amount payable by Buyer at the
initial Closing shall be reduced by $4,500,000 (i.e., 40.6540% of the Base
Consideration Amount).

     

    (b)           If
the Purchased Assets sold at such initial Closing do not include the Purchased
Assets relating to the GN Tukwila Casino, then the amount payable by Buyer at
the initial Closing shall be reduced by $1,500,000 (i.e., 13.5501% of the Base
Consideration Amount).

     

    (c)           If
the Purchased Assets sold at such initial Closing do not include the Purchased
Assets relating to the Millcreek Casino, then the amount payable by Buyer at the
initial Closing shall be reduced by $1,300,000 (i.e., 11.7435% of the Base
Consideration Amount).

     

    (d)           If
the Purchased Assets sold at such initial Closing do not include the Purchased
Assets relating to the Renton Casino, then the amount payable by Buyer at the
initial Closing shall be reduced by $299,996 (i.e., 2.7100% of the Base
Consideration Amount).

     

    (e)           If
the Purchased Assets sold at such initial Closing do not include the Purchased
Assets relating to the Royal Casino, then the amount payable by Buyer at the
initial Closing shall be reduced by $900,000 (i.e., 8.1301 % of the Base
Consideration Amount).

     

    (f)           If
the Purchased Assets sold at such initial Closing do not include the Purchased
Assets relating to the Club Hollywood Casino, then the amount payable by Buyer
at the initial Closing shall be reduced by $2,570,000 (i.e., 23.2159% of the Base
Consideration Amount).

     

    (g)           If
the Purchased Assets sold at such initial Closing do not include the Purchased
Assets relating to the Gaming Consultants, then the amount payable by Buyer at
the initial Closing shall be reduced by $1 (i.e., 0% of the Base
Consideration Amount).

     

    (h)           If
the Purchased Assets sold at such initial Closing do not include the Purchased
Assets relating to the Gameco, then the amount payable by Buyer at the initial
Closing shall be reduced by $1 (i.e., 0% of the Base
Consideration Amount).

     

    (i)           If
the Purchased Assets sold at such initial Closing do not include the Purchased
Assets relating to the Gaming Management, then the amount payable by Buyer at
the initial Closing shall be reduced by $1 (i.e., 0% of the Base Consideration
Amount)

     

    2.            If
and at each such time as an Extension Closing occurs with respect to the
Purchased Assets associated with a Casino or Casinos (or applicable Company or
Companies) that were not transferred to Buyer at the initial Closing, then Buyer
shall pay to the Receiver, at such Extension Closing and as to each Casino being
transferred to Buyer at such Extension Closing, an amount equal to the amount by
which the Base Consideration Amount paid to the Receiver at the initial Closing
was reduced with respect to such Casino pursuant to Section 1 of this Schedule 2.6; provided, however, that for
the avoidance of doubt, the total Base Consideration Amount payable by Buyer
pursuant to this Agreement shall not exceed Eleven Million Seventy Thousand
Dollars ($11,070,000).

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Schedule
3.5(a)

    

    Unaudited
EBITDA Amount

    

    
      
        
          
            
              
                
                  
                    	
                            Company

                          	
                            Name of Casino/Description of

                            Business

                          	 	
                            2009 EBITDA ($)

                          	 
	
                            Silver
      Dollar Mill Creek, Inc.

                          	
                            Millcreek
      Casino

                          	 	 	689,891	 
	
                            Big
      Nevada, Inc.

                          	
                            Sea-Tac
      Casino

                          	 	 	1,460,417	 
	
                            Hollydrift
      Gaming, Inc.

                          	
                            Club
      Hollywood Casino

                          	 	 	984,433	 
	
                            Royal
      Casino Holdings, Inc.

                          	
                            Royal
      Casino

                          	 	 	464,021	 
	
                            Little
      Nevada, Inc.

                          	
                            Renton
      Casino

                          	 	 	178,238	 
	
                            Golden
      Nugget Tukwila, Inc.

                          	
                            GN
      Tukwila Casino

                          	 	 	786,632	 
	
                            Gaming
      Consultants, Inc.

                          	
                            Management
      Company

                          	 	 	(1,185,428	)
	
                            Gaming
      Management, Inc.

                          	
                            Management
      Company

                          	 	 	(685	)
	
                            Gameco,
      Inc.

                          	
                            Management
      Company

                          	 	 	3,122	 
	
                            Mill
      Creek Gaming, Inc.

                          	
                            Dormant
      Company

                          	 	 	-	 
	 
      	
                            TOTAL

                          	 	    
      	                 
      3,380,641AMENDMENT, WAIVER, AND
RELEASE

    TO THE AMENDED AND RESTATED
SECURITY AGREEMENT

    

    

    This Amendment, Waiver, and Release to
the Amended and Restated Security Agreement (“Agreement”) is made as of July 19,
2010, by and between Louise H. Rogers, an individual who resides in Tyler, Smith
County, Texas, as her separate property (“Rogers”), and Nevada Gold &
Casinos, Inc., a Nevada corporation, with its principal place of business at 50
Briar Hollow Lane, Suite 500W, Houston, Texas, 77027-9304 (“NGC”); Gold Mountain
Development, L.L.C., a Colorado limited liability company (“GMD”); CGC Holdings,
L.L.C., a Nevada limited liability company (“CGC”); Colorado Grande Enterprises,
Inc.,a Colorado corporation (“CGE”); and Nevada Gold BVR, L.L.C.,a Nevada
limited liability company (“NGBVR”); all as parties to the ARSA (as defined in
the Recitals below) and, together with NG Washington, LLC, a Washington limited
liability company (“NGW”), each in their respective separate capacities as “NGC
Guarantors” under the Loan Guaranty Agreement (as defined in the Recitals
below).

    

    Recitals

    

    A.          NGC
currently owes Rogers loans in an aggregate principal amount of Six Million and
No/100 Dollars ($6,000,000.00) (the “Rogers’ Loan Proceeds”) pursuant to that
certain Amended and Restated Promissory Note from NGC to Rogers dated July 7,
2009 (the “Note”), and secured at least in part by that certain Amended and
Restated Security Agreement (“ARSA”), also dated July 7, 2009, between Rogers
and NGC, GMD, CGC, CGE, and NGBVR (collectively referred to with NGC as the “NGC
Loan Parties”).

    

    B.          The
NGC Guarantors are party to that certain guaranty agreement dated July 7, 2009
(“Loan Guaranty Agreement”) in which the NGC Guarantors each guaranty the
payment of all of NGC’s obligations to Rogers under the Note, the ARSA, and the
other Loan Documents.  The phrase “Loan Documents” is used throughout
this Agreement as it is defined in the ARSA.

    

    C.           NG
Washington II, LLC (“NGWII”), is a newly-formed wholly-owned subsidiary of NGC
(and is not a Loan Party).  NGWII entered into an asset purchase
agreement dated April 14, 2010 (“Asset Purchase Agreement”), with Grant Thornton
Limited in its capacity as court-appointed receiver (“Receiver”), in which NGWII
agreed to purchase from Receiver (the “Acquisition”), and subsequently operate,
seven mini-casinos in the State of Washington (the “New Card
Rooms”).

    

    D.          Concurrently
with the execution of the Asset Purchase Agreement, NGWII entered into a term
sheet dated April 14, 2010 (“Term Sheet”), with Fortress Credit Corp. (“FCC”),
in which FCC, on behalf of itself and its affiliates (collectively referred to
as “Fortress”), indicated its willingness, on an expressly non-binding and
uncommitted basis, to provide to NGWII or to one or more newly-formed
subsidiaries or affiliates of NGC, a portion of the purchase price consideration
for the New Card Rooms in an aggregate amount not to exceed Five Million Seventy
Thousand and No/100 Dollars ($5,070,000.00) (the “Fortress Credit Facility” and,
together with the Acquisition, the “Specified Transactions”).

    

    E.           Pursuant
to the Term Sheet, Fortress requires, among other things, that NGC and its new
subsidiaries and/or affiliates formed exclusively for the purposes of the
Specified Transactions (including, without limitation, NGWII) (collectively
referred to as the “New NGC Entities”), grant to Fortress a first priority,
perfected security interest in all of NGC’s ownership interests in the New NGC
Entities and in all of the assets of the New NGC Entities.

    

    F.           NGC
proposes to distribute to NGWII and permit NGWII to apply the Rogers’ Loan
Proceeds, which remain in the “Projects Fund” to satisfy in cash the balance of
the purchase price consideration for the New Card Rooms not financed by the
Fortress Credit Facility.  The “Projects Fund” is more particularly
described in Section II(D) of the ARSA and in the Agreement Regarding Use of
Proceeds of IC-BH Sale and Regarding Remaining Amount Due under the Amended and
Restated Credit Facility (as amended) dated November 13, 2007, between Rogers,
NGC, and Black Hawk Gold, Ltd.

    

    G.          The
ARSA and the other Loan Documents contain prohibitions and other restrictions on
the ability of NGC to grant to third parties first priority liens over its
ownership interests in its newly-formed entities formed for the purpose of
acquiring assets and for these entities to grant first priority liens over their
respective assets.

    

    H.          NGC
has requested that Rogers agree to amend the ARSA and the other Loan Documents
to permit NGC and the New NGC Entities to enter into the Fortress Credit
Facility and to perform their respective obligations under it (as contemplated
by the Term Sheet), and Rogers has agreed to this request upon the terms and
subject to the conditions contained in this Agreement.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    Agreements

    

    For good and valuable consideration,
the receipt and sufficiency of which is mutually acknowledged, the parties to
this Agreement agree as follows:

    

    1.           Defined
Terms.  Capitalized terms not defined in this Agreement
(including the Preamble and Recitals above) shall have the meanings ascribed to
them in the ARSA.

    

    2.           Amendments to ARSA and other
Loan Documents.  By this Agreement, Rogers agrees to and does
amend any and all provisions of the Loan Documents prohibiting, limiting, or
otherwise restricting in any way NGC’s and the New NGC Entities’ entry into the
Fortress Credit Facility and performance of their respective obligations
contained in the Term Sheet (the “Fortress Transactions”) for the benefit of
NGC, the New NGC Entities, and Fortress by completely removing those
restrictions.  NGC and the New NGC Entities have Rogers consent to
grant Fortress priority perfected security interests and liens (the “Permitted
Fortress Liens”) over the respective assets of NGC and the New NGC Entities, as
more particularly described in Recital E above and the Term Sheet, to secure
NGC’s obligations under the Fortress Credit Facility.  The assets
excluded from the ARSA by this Agreement are referred to as the “Excluded
Collateral.”

    

    3.           Release.  To
the extent Rogers’ has any security interest in the Excluded Collateral, Rogers
releases all her security interests in the Excluded Collateral and authorizes
NGC to file the UCC-3 financing statement(s) in the form attached to this
Agreement as Exhibit A with the appropriate filing office(s) in the applicable
state(s).

    

    4.           Confirmations.

    

    a.           Rogers
confirms to NGC and Fortress that, from and including the date of this
Agreement, Rogers has no security interest in the Excluded Collateral and that
the Excluded Collateral do not and will not constitute at any time Collateral
(as that term is defined in the ARSA) securing any obligations owed by NGC to
Rogers pursuant to or under the Loan Documents.

    

    b.           NGC
ratifies and confirms that the Loan Documents are and remain in full force and
effect in accordance with their respective terms, as amended by this
Agreement.  In addition, each of the NGC Guarantors acknowledges,
agrees, accepts, and consents to the terms and provisions of this Agreement and
of the Loan Documents as amended by this Agreement.  Except as
expressly provided in this Agreement, this Agreement does not constitute a
waiver or modification of any of the terms or provisions set forth in the Loan
Documents and shall not impair any right that Rogers may now or subsequently
have under or in connection with the Loan Documents.

    

    5.           Waiver.  For
the benefit of NGC and Fortress, Rogers irrevocably waives any and all known or
unknown Defaults or Events of Default (if any) and any and all of her other
rights and remedies under the Loan Documents arising on or before the date of
this Agreement caused by NGC’s and any New NGC Entity’s acts or omissions in
connection with the Fortress Transactions.

    

    6.           No
Impairment.  Except as expressly provided in this Agreement,
the amendments and waivers granted in this Agreement by Rogers do not impair
Rogers’ right to insist upon strict compliance with the Loan
Documents.  The Loan Documents, as waived and amended by this
Agreement, continue to bind and inure to the benefit of Rogers, NGC, the NGC
Guarantors, and their respective successors and permitted assigns.

    

    7.           Notices.  Any
and all notices or communications related in any way to this Agreement may be
given by certified mail with return receipt requested, by receipted courier, by
overnight delivery service, or by hand delivery and sent to the persons at the
addresses set forth for each party below, or they may be given by facsimile
transmission or by e-mail transmission if the intended recipient has
affirmatively stated that notice may be delivered by facsimile or e-mail and the
intended recipient has provided a valid facsimile number and/or e-mail
address.  Any notice delivered by facsimile or e-mail sent or for
which a return receipt is received at any time before 5:00 p.m. on a business
day shall be deemed to be delivered on that date.  Any facsimile or
e-mail notice not received by 5:00 p.m. on a business day shall be deemed to be
received on the first following business day.

    

    [This
space has been intentionally left blank.]

     

    
      
         

      

      
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                                                  Notices
      to NGC:

                                                	 
      	with
      a copy sent contemporaneously to:
	 
      	 
      	 
	
                                                  Robert
      B. Sturges, CEO

                                                	 
      	Ernest
      E. East, General Counsel
	
                                                  Nevada
      Gold & Casinos, Inc.

                                                	 
      	Nevada
      Gold & Casinos, Inc.
	
                                                  50
      Briar Hollow Lane, Suite 500W

                                                	 
      	50
      Briar Hollow Lane, Suite 500W
	
                                                  Houston,
      Texas 77027-9304

                                                	 
      	Houston,
      Texas 77027-9304
	
                                                  Facsimile
      number: (713) 621-6919

                                                	 
      	Facsimile
      number: (713) 621-6919
	
                                                  E-mail:
      RSturges@NevadaGold.com

                                                	 
      	E-mail:
      EEast@NevadaGold.com
	
                                                  Notice
      may be delivered by facsimile or

                                                	 
      	Notice
      may be delivered by facsimile or
	
                                                  e-mail
      with proof of receipt.

                                                	 
      	e-mail
      with proof of receipt.
	 
      	 
      	 	 
      
	
                                                  Notices
      to Rogers:

                                                	 
      	 	 
      
	 
      	 
      	 	 
      
	
                                                  Mrs.
      Louise H. Rogers

                                                	 
      	 	 
      
	
                                                  2512
      Alta Mira

                                                	 
      	 	 
      
	
                                                  Tyler,
      Texas 75701-7301

                                                	 
      	 	 
      
	 
      	 
      	 	 
      
	
                                                  with
      copies sent contemporaneously to:

                                                	 	 
      
	 
      	 
      	 	 
      
	
                                                  Sharon
      E. Conway

                                                	
                                                  and

                                                	
                                                  W.
      Michael Robertson

                                                
	
                                                  Attorney
      at Law

                                                	 
      	 	
                                                  8431
      Katy Freeway, Suite 200

                                                
	
                                                  2441
      High Timbers, Suite 410

                                                	 
      	 	
                                                  Houston,
      Texas 77024-1999

                                                
	
                                                  The
      Woodlands, Texas 77380-1052

                                                	 
      	 	
                                                  Facsimile
      number: (713) 624-4001

                                                
	
                                                  Facsimile
      number: (281) 754-4685

                                                	 
      	 	
                                                  Notice
      may be delivered by facsimile

                                                
	
                                                  E-mail
      address: SConway@SConwayLaw.com

                                                	 	
                                                  with
      proof of receipt.

                                                
	
                                                  Notice
      may be delivered by facsimile or

                                                	 	 
      
	
                                                  e-mail
      with proof of receipt.

                                                	 	 
      

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    

     

    NGC
understands and agrees that any notice given or attempted to be given by it to
Rogers is not effective unless the notice was contemporaneously
provided to all other persons identified above or subsequently identified to NGC
by Rogers and shall be deemed to have been given to Rogers upon providing notice
to Ms. Conway and Mr. Robertson as set forth above.  Any of the above
contact information or designated representatives for the purpose of notice may
be changed by a party or an authorized representative of a party providing
written notice in the manner set forth above to the other party, and the new
contact information or representative will then become effective.  For
all purposes under this Agreement, any notice given by Ms. Conway or Mr.
Robertson (or other any other legal counsel or financial advisor designated by
Rogers) on behalf of Rogers shall constitute notice by Rogers.

    

    8.           Severability.  If
any provision of this Agreement is determined to be in violation of any law,
rule, or regulation, or to be otherwise unenforceable, that determination shall
not affect the validity of any other provisions of this Agreement, but all other
provisions shall remain in full force and effect.

    

    9.           Counterparts;
Execution.  This Agreement may be executed in any number of
counterparts and by a different party on separate counterparts, each of which,
when executed and delivered, will be deemed an original, and all of which, when
taken together, shall constitute one and the same agreement.  Delivery
of an executed counterpart of this Agreement via facsimile transmission or in
PDF format by electronic mail shall be binding and as effective as delivery of a
manually-executed counterpart, and may be used as admissible evidence that the
party transmitting the signed Agreement intends to be bound by the terms set
forth in it.

     

    
      
         

      

      
        Page
3 of 5

        
          

        

      

      
         

      

    

    
 

    10.         Entire
Agreement.  This Agreement supersedes and is in lieu of any and
all prior or contemporaneous agreements, communications, or understandings,
whether written or unwritten, verbal or tacit, or implied by prior dealings,
between the parties.

    

    11.         Third Party
Beneficiaries.   Fortress and its successors and assigns
are intended to be, and are, third party beneficiaries of Rogers’ obligations
under this Agreement and no amendment or waiver of any provision of this
Agreement shall be effective unless in writing and signed by
Fortress.

    

    12.         Governing
Law.  This Agreement shall be governed by and construed in
accordance with the laws of the State of Texas (without giving effect to
conflict of laws principles).

    

    The
parties acknowledge that they have had an adequate opportunity to review each
and every provision contained in this Agreement and to submit this Agreement to
legal counsel for review and comment.  Based on this acknowledgement,
the parties agree that the rule of construction that a contract be construed
against the drafter, if any, not be applied in the interpretation and
construction of this Agreement.

    

    

    

    [Signatures
are on the following page.]

     

     

    
      
         

      

      
        Page
4 of 5

        
          

        

      

      
         

      

    

     

    The
parties have executed and delivered this Agreement as of the date first written
above.

    

    Nevada
Gold & Casinos, Inc.

    

    

    

    
      
        
          	
                  By:

                	
                        
                    /s/
      Robert B. Sturges,

                  

                	 
	 
      	
                  Robert
      B. Sturges, Chief Executive
Officer

                

        

      

    

    

    

    Guarantors:

    

    
      
        
          
            
              
                
                  	
                          Gold
      Mountain Development, L.L.C.

                        	 	
                          CGC
      Holdings, L.L.C.

                        	 
	 
      	 
      	 	 
      	 
      	 
	 
      	 
      	 	 
      	 
      	 
	 
      	 
      	 	 
      	 
      	 
	
                          By:

                        	
                          /s/
      Robert B. Sturges

                        	 	
                          By:

                        	
                          /s/
      Robert B. Sturges

                        	 
	 
      	
                          Robert
      B. Sturges, Manager

                        	 	 
      	
                          Robert
      B. Sturges, Manager

                        	 
	 
      	 
      	 	 
      	 
      	 
	 
      	 
      	 	 
      	 
      	 
	
                          Colorado
      Grande Enterprises, Inc.

                        	 	
                          Nevada
      Gold BVR, L.L.C.

                        	 
	 
      	 
      	 	 
      	 
      	 
	 
      	 
      	 	 
      	 
      	 
	 
      	 
      	 	 
      	 
      	 
	
                          By:

                        	
                          /s/
      Robert B. Sturges

                        	 	
                          By:

                        	
                          /s/
      Robert B. Sturges

                        	 
	 
      	
                          Robert
      B. Sturges, President

                        	 	
                           

                        	      
                          Robert
      B. Sturges, Manager

                        	 

                

              

            

          

        

      

    

    

    

    Secured
Party:

    

    

    /s/
Louise H. Rogers

    Louise H.
Rogers, as her Separate Property

    2512 Alta
Mira

    Tyler,
Texas  75701-7301

    

    
      
         

      

      
        Page
5 of 5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00176-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00176-of-00352.parquet"}]]