Exhibit 10.58
The Xxxxxxx Town H.B.P.A., Inc.
X.X. Xxx 000
Xxxxxxx Xxxx, XX 00000
March 19, 0000
Xxxx Xxxxxxxx Lottery Commission
Mr. Xxxxxxx Xxxxx
000 XxxXxxxxx Xxxxxx, X.X.
X.X. Xxx 0000
Xxxxxxxxxx, XX 00000
Dear Xx. Xxxxx:
This letter constitutes a Letter Agreement by and between PNGI Xxxxxxx
Town Gaming Limited Liability Company, a West Virginia Limited Liability
Company, and The Xxxxxxx Town H.B.P.A., Inc., a West Virginia Corporation, that
the net terminal income from Video Lottery Terminals operated by PNGI Xxxxxxx
Town Gaming Limited Liability Company at Xxxxxxx Town Racetrack shall be
distributed in accordance with the provisions of Section 29-22A-10(c) of the
Race Track Video Lottery Act, as such statutory provision shall be in effect on
the date of execution of this Letter Agreement, or as hereinafter amended from
time to time by the West Virginia Legislature, either at any regular or special
session.
This Letter Agreement is binding upon the signatories thereof for a
period from the date of its execution through June 30, 1997, and for a period of
one (1) year from July 1, 1997 through June 30, 1998, inclusive, and shall
become binding and effective upon the date of final execution by all of the
parties thereto, and shall not be amended, revised, extended, or superceded,
either by the actions of the parties, inaction, or default or inability to
negotiate the statutorily mandated annual renewal of the Letter Agreement by the
signatories hereto, without the execution in writing of an Agreement by all of
the signatories hereto.
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The undersigned, Xxx Xxxxxxx, is President/General Manager of PNGI
Xxxxxxx Town Gaming Limited Liability Company, a West Virginia Limited Liability
Company, and has the authority to bind the Limited Liability Company.
The undersigned, Xxxxxxx X. Xxxxxxxxxx, XX, is President of The Xxxxxxx
Town H.B.P.A., Inc., a West Virginia Corporation, and has the authority to bind
the members of that Corporation.
Witness the following signatures and seals as of the 20th day of
March, 1997.
PNGI XXXXXXX TOWN GAMING
LIMITED LIABILITY COMPANY,
A West Virginia Limited Liability Company
By: /s/ Xxx Xxxxxxx
---------------------------------
Xxx Xxxxxxx, its President and
General Manager
XXXXXXX TOWN H.B.P.A., INC.,
a West Virginia Corporation
By: /s/ Xxxxxxx X. Xxxxxxxxxx,XX
---------------------------------
it's President
00
XXXXX XX XXXX XXXXXXXX
XXXXXX XX XXXXXXXXX, to-wit:
I, Xxxxxxxxx X. Burner , a notary public for the County/City and State
aforesaid, certify that XXX XXXXXXX, whose name is signed to the foregoing as
President and General Manager of PNGI XXXXXXX TOWN GAMING LIMITED LIABILITY
COMPANY, a West Virginia Limited Liability Company, dated the 20th day of March
, 1997 acknowledged the same on behalf of the Limited Liability Company as its
General Manager and President before me in the County/City aforesaid.
Given under my hand and official seal this 20th day of March, 1997.
/s/ Xxxxxxxxx X. Burner
----------------------------
Notary Public
My commission expires on November 27, 0000
XXXXX XX XXXX XXXXXXXX
XXXXXX XX XXXXXXXXX, to-wit:
I, Xxxxxxxx X. Xxxxx, a notary public for the County/City and State
aforesaid, certify that XXXXXXX X. XXXXXXXXXX, XX, whose name is signed to the
foregoing as President of THE XXXXXXX TOWN H.B.P.A., INC., a West Virginia
Corporation, dated the 20th Day of March , 1997 acknowledged the same on behalf
of the Corporation as its President before me in the County/City aforesaid.
Given under my hand and official seal this 20th day of March, 1997.
/s/ Xxxxxxxx X. Xxxxx
----------------------------
Notary Public
My commission expires on September 18, 2006
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