Exhibit 10.1
FIRST AMENDMENT TO
AMENDED AND RESTATED HEAD LEASE
AGREEMENT BETWEEN
THE SENECA NATION OF
INDIANS
AND
SENECA NIAGARA FALLS GAMING
CORPORATION
THIS FIRST AMENDMENT TO AMENDED
AND RESTATED HEAD LEASE AGREEMENT (this “Amendment”) is made by and
between THE SENECA NATION OF INDIANS (the
“Landlord”) and SENECA NIAGARA FALLS GAMING
CORPORATION (“Tenant”) as of the 1st day of
October, 2008 (the “Effective Date”).
WHEREAS, Landlord and Tenant are parties to that certain
Amended and Restated Head Lease Agreement, effective as of
October 1, 2007 (the “Head Lease Agreement”),
pursuant to which Tenant leases from Landlord land and certain
improvements on Landlord’s Niagara Falls Territory for use as
the site for the Seneca Niagara Casino and Hotel; and
WHEREAS, the parties desire to amend the Head Lease
Agreement to modify the Annual Rent described therein, in
accordance with the terms and conditions hereof.
NOW, THEREFORE,
in consideration of the mutual
covenants and agreements set forth herein and for such other good
and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto, intending to be
legally bound, agree as follows:
1.
The foregoing recitals are restated
and incorporated herein by reference and made a part hereof as
though fully set forth herein.
2.
Section 1.03(a) of the
Head Lease Agreement is hereby deleted in its entirety and replaced
with the following:
(a)
Rent . Commencing as of
October 1, 2008, Tenant shall pay directly to the Landlord, or
Landlord’s representative if Tenant is so notified, annual
rent (“ Annual Rent ”) in the amount of
Thirty-Six Million Eighty-Six Thousand Five
