EXHIBIT 10.23
THIRD AMENDMENT TO LEASE AND AGREEMENT
This Third Amendment to Lease and Agreement (this "Amendment") is made and
entered into as of December 4, 2002, by and between Pinnacle Entertainment,
Inc., a Delaware corporation, successor by merger with Hollywood Park, Inc.
("Landlord"), and Century Gaming Management, Inc. a California corporation
("Tenant").
A. Landlord and Tenant entered into that certain Lease and Agreement dated
as of September 10, 1999, as amended by (i) that certain First Amendment to
Lease and Agreement dated September 6, 2000, and (ii) that certain Second
Amendment to Lease and Agreement dated as of October 1, 2001 (together, the
"Lease"), whereby Tenant leases from Landlord that certain real property in
Inglewood, California upon which Tenant operates The Hollywood Park-Casino (the
"Premises").
B. Landlord and Tenant desire to amend the Lease as set forth below.
NOW, THEREFORE, for valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, Landlord and Tenant agree as follows:
1. Defined Terms. Capitalized terms used herein, but not defined herein,
shall have the meanings ascribed to such terms in the Lease.
2. Term. The Term of this Lease shall commence on the Commencement Date and
shall continue until the earlier of (i) December 31, 2003, or (ii) the
expiration or earlier termination of the CDC Lease, unless sooner terminated
pursuant to any provision hereof or otherwise amended pursuant to future
amendments hereof.
3. Division of Gambling Control. The terms of this Amendment shall be
subject to approval by the Division of Gambling Control.
4. Relationship to Lease. This Amendment supercedes any inconsistent
provisions contained in the Lease. Except as amended hereby, the Lease remains
in full force and effect.
5. Further Assurances. Each of the parties hereto shall execute and deliver
such other and further documents and do such other and further acts as may be
reasonably required to effectuate the intent of the parties and carry out the
terms of this Amendment.
6. Counterparts. This Amendment may be executed in counterparts, which,
when taken together shall be one and the same instrument.
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IN WITNESS WHEREOF, this Amendment has been executed as of the date first above
written.
LANDLORD TENANT
Pinnacle Entertainment, Inc., Century Gaming Management, Inc.,
a Delaware corporation a California corporation
By: /s/ Xxxxxx X. Xxx By: /s/ Xxx Xxx
Its:CEO Its: President
