Exhibit 10.3
SECOND AMENDMENT
TO
HEAD LEASE AGREEMENT
BETWEEN
THE SENECA NATION OF
INDIANS
AND
SENECA ERIE GAMING
CORPORATION
THIS SECOND AMENDMENT TO HEAD
LEASE AGREEMENT (this
“Amendment”) is made by and between THE SENECA
NATION OF INDIANS (the “Landlord”) and SENECA
ERIE GAMING CORPORATION (“Tenant”) as of the 1st
day of October, 2008 (the “Effective Date”).
WHEREAS, Landlord and Tenant are parties to that certain
Head Lease Agreement dated February 28, 2007, and effective
April 1, 2006 (the “Head Lease Agreement”), and
amended as of October 1, 2007, pursuant to which Tenant leases
from Landlord land on Landlord’s Buffalo Creek Territory for
use as the site for the Seneca Buffalo Creek Casino; 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 2.01(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 Fifteen
Million Nine Hundred Thirteen Thousand Five Hundred
Dollar
