0000921895-05-000282 Sample Contracts

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RECITALS
Redemption Agreement • March 3rd, 2005 • Empire Resorts Inc • Retail-eating & drinking places • New York
CATSKILL DEVELOPMENT, L.L.C. c/o Monticello Raceway Route 17B Monticello, New York 12701 January 12, 2004
Empire Resorts Inc • March 3rd, 2005 • Retail-eating & drinking places • New York
RECITALS:
Agreement of Lease • March 3rd, 2005 • Empire Resorts Inc • Retail-eating & drinking places • New York
CATSKILL DEVELOPMENT, L.L.C. c/o Monticello Raceway Route 17B Monticello, New York 12701 January 12, 2004
Shared Facilities Agreement • March 3rd, 2005 • Empire Resorts Inc • Retail-eating & drinking places • New York
AGREEMENT:
Agreement of Lease • March 3rd, 2005 • Empire Resorts Inc • Retail-eating & drinking places • New York
EMPIRE RESORTS, INC.
Empire Resorts Inc • March 3rd, 2005 • Retail-eating & drinking places

The undersigned, being all of the Members of BKB, LLC ("BKB"), pursuant to that certain Amended and Restated Securities Contribution Agreement dated as of December 12, 2003, by and between Empire Resorts, Inc., Alpha Monticello, Inc., Catskill Development, L.L.C, Americas Tower Partners, Monticello Realty L.L.C., Watertone Holdings, LP, New York Gaming, LLC, Fox-Hollow Lane, LLC, Shamrock Strategies, Inc., Clifford A. Ehrlich, BKB, Robert A. Berman, Philip B. Berman, Scott A. Kaniewski, Kaniewski Family Limited Partnership and KFP Trust (the "SECURITIES CONTRIBUTION AGREEMENT"), and the unanimous . written consent of the members of BKB, effective as of the Closing (as defined in the Securities Contribution Agreement), hereby (i) assign, transfer and convey all of their right, title and interest in their limited liability company membership interest in Monticello Raceway Development Company, LLC ("MRD") to Empire Resorts, Inc. in the percentages set forth on Schedule A hereto and (ii) c

CLOSING MEMORANDUM
Closing Memorandum • March 3rd, 2005 • Empire Resorts Inc • Retail-eating & drinking places • New York
EMPIRE RESORTS, INC.
Empire Resorts Inc • March 3rd, 2005 • Retail-eating & drinking places

The undersigned, pursuant to that certain Amended and Restated Securities Contribution Agreement dated as of December 12, 2003, by and between Empire Resorts, Inc., Alpha Monticello, Inc., Catskill Development, L.L.C, Americas Tower Partners ("ATP"), Monticello Realty L.L.C., Watertone Holdings, LP, New York Gaming, LLC, Fox-Hollow Lane, LLC, Shamrock Strategies, Inc., Clifford A. Ehrlich, BKB, LLC, Robert A. Berman, Philip B. Berman, Scott A. Kaniewski, Kaniewski Family Limited Partnership and KFP Trust (the "SECURITIES CONTRIBUTION AGREEMENT"), and the unanimous written consent of the general partners of ATP, effective as of the Closing (as defined in the Securities Contribution Agreement), hereby (i) assigns, transfers and conveys all of the. right, title and interest in ATP's membership interest in Monticello Raceway Development Company, LLC ("MRD") to Empire Resorts, Inc. and (ii) consents to the admission of Empire Resorts, Inc. as a member of MRDD in accordance with the terms of

EXISTING PREMISES:
Mortgage Modification and Spreader Agreement • March 3rd, 2005 • Empire Resorts Inc • Retail-eating & drinking places • New York
ASSIGNMENT OF LIMITED LIABILITY COMPANY MEMBERSHIP INTERESTS
Empire Resorts Inc • March 3rd, 2005 • Retail-eating & drinking places

The undersigned, pursuant to that certain Amended and Restated Securities Contribution Agreement dated as of December 12, 2003, by and between Empire Resorts, Inc., Alpha Monticello, Inc., Catskill Development, L.L.C ("CATSKILL"), Americas Tower Partners, Monticello Realty L.L.C., Watertone Holdings, LP, New York Gaming, LLC, Fox-Hollow Lane, LLC, Shamrock Strategies, Inc., Clifford A. Ehrlich, BKB, LLC, Robert A. Berman, Philip B. Berman, Scott A. Kaniewski, Kaniewski Family Limited Partnership and KFP Trust (the "SECURITIES CONTRIBUTION AGREEMENT"), effective as of the Closing (as defined in the Securities Contribution Agreement), hereby (i) assign, transfer and convey all of their right, title and interest in all of their membership interest in Monticello Casino Management, LLC and Mohawk Management, LLC to Empire Resorts, Inc. in the percentages set forth in Schedule A attached hereto, and (ii) consent to the admission of Empire Resorts, Inc. as a member of each of Monticello Casin

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