Exhibit 10.11
SECOND AMENDMENT TO GROUND
LEASE
This SECOND AMENDMENT TO GROUND
LEASE (this “ Second Amendment ” ) is
entered into as of the 7th day of January, 1997 by and between
TEXAS GAMBLING HALL & HOTEL, INC., a Nevada corporation (
“ Landlord ” ), and TEXAS STATION, INC.,
a Nevada corporation ( “ Tenant ”
).
Recitals
A.
Landlord and Station
Casinos, Inc. entered into that certain Ground Lease dated
June 1, 1995, as amended by that certain First Amendment to
Ground Lease dated June 30, 1995 by and between Landlord and
Station Casinos, Inc., and assigned by Station
Casinos, Inc. to Tenant by that certain Assignment, Assumption
and Consent Agreement (Ground Lease) dated as of July 6, 1995
(the “ Original Lease ” and, as amended
by this Second Amendment, the “ Lease ”
).
B.
Landlord and Tenant desire to amend
the Original Lease as provided herein.
Agreement
NOW, THEREFORE, in exchange for the
mutual promises and covenants contained herein, the sufficiency of
which is hereby acknowledged by each of the undersigned, the
undersigned parties agree as follows;
1.
The Original Lease is hereby amended
by insertion of the following as Article XIII(Z):
Z.
Landlord
Accomodations .
1.
Defined
.
Landlord and Tenant acknowledge
that Tenant’s improvements and operations on the Land have
been and will continue to be subject to various regulatory
requirements applicable to the gaming industry, and that as a
result of such requirements, Tenant or certain gaming regulatory
agencies may request that Landlord take, or refrain from taking,
certain actions in order to accomodate Tenant’s development
and operation of gaming facilities (collectively, “
Landlord Accommodations ” )
. The result of such Landlord
Accommodations may even limit or dictate to whom Landlord can or
cannot transfer the Property, enter into loans therewith or other
activities which restrict the normal operation of income-producing
property, thereby potentially impacting the value. The compliance
with any such request of Landlord Accommodation shall be in the
sole discretion of the Landlord. Any granting or performance by
Landlord of any Landlord Accommodation shall be conditioned upon
Tenant’s agreement to Subsections (2) and (3) of
this Section XIII(Z).
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