-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Vo7eAc/OCBNQSW4J0gvALRfk+vrq3XTeYqtwdo7vkSfrZXlLnrXLdLfXLV694hRE
 EEWVOonke/DFHsq+Vj1Imw==

<SEC-DOCUMENT>0000950137-07-009732.txt : 20070705
<SEC-HEADER>0000950137-07-009732.hdr.sgml : 20070704
<ACCEPTANCE-DATETIME>20070705161410
ACCESSION NUMBER:		0000950137-07-009732
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		8
CONFORMED PERIOD OF REPORT:	20070628
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20070705
DATE AS OF CHANGE:		20070705

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LAKES ENTERTAINMENT INC
		CENTRAL INDEX KEY:			0001071255
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION [7990]
		IRS NUMBER:				411913991
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24993
		FILM NUMBER:		07964831

	BUSINESS ADDRESS:	
		STREET 1:		130 CHESHIERE LANE
		CITY:			MINNETONKA
		STATE:			MN
		ZIP:			55305
		BUSINESS PHONE:		6124499092

	MAIL ADDRESS:	
		STREET 1:		130 CHESHIRE LANE
		CITY:			MINNETONKA
		STATE:			MN
		ZIP:			55305

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LAKES GAMING INC
		DATE OF NAME CHANGE:	19980929
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>c16485e8vk.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
<HTML>
<HEAD>
<TITLE>e8vk</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>






<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Date of Report (Date of earliest event reported): June&nbsp;28, 2007</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B><FONT style="border-bottom: 1px solid #000000">Lakes Entertainment, Inc.</FONT></B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">Minnesota
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">0-24993
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">41-1913991</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction of incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(IRS Employer<BR>
Identification No.)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="center">130 Cheshire Lane, Minnetonka, Minnesota <BR></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">55305</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="center">(Address of principal executive offices) <BR></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Zip Code)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="center">Registrant&#146;s telephone number, including area code: <BR></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(952) 449-9092</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" valign="top" align="center">Not Applicable <BR></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" valign="top" align="center">(Former name or former address, if changed since last report) <BR></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR>

</TABLE>
</DIV>

<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>








<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD></TD><TD colspan="8"><A HREF="#000">Item&nbsp;1.01. Entry into a Material Definitive Agreement.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;9.01. Financial Statements and Exhibits.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="c16485exv10w1.htm">Purchase Agreement</A></TD></TR>
<TR><TD colspan="9"><A HREF="c16485exv10w2.htm">Notes Dominion Account Agreement</A></TD></TR>
<TR><TD colspan="9"><A HREF="c16485exv10w3.htm">Security Agreement Acknowledgement</A></TD></TR>
<TR><TD colspan="9"><A HREF="c16485exv10w4.htm">Intercreditor and Subordination Agreement</A></TD></TR>
<TR><TD colspan="9"><A HREF="c16485exv10w5.htm">Assignment and Assumption Agreement</A></TD></TR>
<TR><TD colspan="9"><A HREF="c16485exv99w1.htm">Press Release</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>






<!-- link2 "Item&nbsp;1.01. Entry into a Material Definitive Agreement." -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;1.01. Entry into a Material Definitive Agreement.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Shingle Springs Band of Miwok Indians and certain of its affiliates who acquired the rights
and obligations under an Assignment and Assumption Agreement dated effective as of April&nbsp;20, 2007
(&#147;<B>Shingle Springs Tribe</B>&#148;) closed on a $450&nbsp;million senior note financing pursuant to the terms and
conditions of a Purchase Agreement dated as of June&nbsp;22, 2007 (&#147;<B>Purchase Agreement</B>&#148;) among Morgan
Stanley &#038; Co. Incorporated, Wells Fargo Securities, LLC, Lakes KAR &#151; Shingle Springs, LLC
(&#147;<B>Manager</B>&#148;) and the Shingle Springs Tribe to fund the Foothill Oaks Casino project in Shingle
Springs, California. Manager has a development and management agreement with the Shingle Springs
Tribe to develop and manage the Foothill Oaks Casino. Immediately following the closing of this
financing, Manager was repaid approximately $17.2&nbsp;million by the Shingle Springs Tribe for land
Manager had previously purchased on behalf of the Shingle Springs Tribe, and for certain
construction advances and certain accrued interest.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In connection with this financing arrangement, Manager entered into an Intercreditor and
Subordination Agreement dated as of June&nbsp;28, 2007 with Bank of New York Trust Company, N.A.
(&#147;<B>BONY</B>&#148;), as trustee, and BONY, as collateral agent, by which payment of loans made by Manager to
the Shingle Springs Tribe and other amounts payable by the Shingle Springs Tribe under the
development and management agreement (including management fees payable to Manager with respect to
the Foothill Oaks Casino), as well as security interests securing such payments, have been
subordinated to the payment of and security interest securing such financing arrangement and
certain additional financing arrangements as may be made available to the Shingle Springs Tribe.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In addition, Manager entered into a Notes Dominion Account Agreement dated June&nbsp;28, 2007 with the
Shingle Springs Tribe, BONY and Wells Fargo Bank, N.A., which established one or more accounts into
which the Shingle Springs Tribe revenues will be deposited on a daily basis, and from which Manager
will have the sole right to withdraw funds to make such payments required or permitted by its
development and management agreement with the Shingle Springs Tribe as are also permitted by the
financing arrangement, so long as no event of default has occurred with respect to such financing
arrangement. Such accounts secure the $450&nbsp;million senior note financing and certain additional
financing arrangements as may be made available to the Shingle Springs Tribe and, on a subordinate
basis, the loan, management fee and other payment obligations of the Shingle Springs Tribe to
Manager.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant
to a Security Agreement Acknowledgement dated June&nbsp;28, 2007, Manager has agreed that the
security interest granted by the Shingle Springs Tribe to secure amounts payable by the Shingle
Springs Tribe to Manager will not attach to furniture, furnishings and equipment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Copies of the Company&#146;s material agreements relating to, and the press release announcing, the
Shingle Springs Tribe senior note financing are attached as exhibits to this Current Report.
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link2 "Item&nbsp;9.01. Financial Statements and Exhibits." -->
<DIV align="left"><A NAME="001"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9.01. Financial Statements and Exhibits.</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Not Applicable</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Not Applicable</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Not Applicable</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Exhibits</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">10.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Purchase Agreement dated as of June&nbsp;22, 2007 among Lakes KAR &#151; Shingle Springs, LLC,
Shingle Springs Band of Miwok Indians, Shingle Springs Tribal Gaming Authority, Morgan
Stanley &#038; Co. Incorporated and Wells Fargo Securities, LLC.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">10.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Notes Dominion Account Agreement dated June&nbsp;28, 2007 among Lakes KAR &#151; Shingle
Springs, LLC and the Bank of New York Trust Company, N.A.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">10.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Security Agreement Acknowledgement dated June&nbsp;28, 2007 between Lakes KAR &#151; Shingle
Springs, LLC and the Shingle Springs Tribal Gaming Authority.</TD>
</TR>
<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">10.4</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Intercreditor and Subordination Agreement dated June&nbsp;28, 2007 among Lakes KAR &#151;
Shingle Springs, LLC and the Bank of New York Trust Company, N.A.</TD>
</TR>
<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">10.5</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Assignment and Assumption Agreement dated April 20, 2007
among the Shingle Springs Board of Miwok Indians, Shingle Springs
Tribal Gaming Authority and Lakes KAR &#151; Shingle Springs, LLC</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">99.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Lakes Entertainment, Inc. Press Release dated June&nbsp;29, 2007</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><FONT style="font-variant: SMALL-CAPS">LAKES ENTERTAINMENT, INC.</FONT><BR>
(Registrant)<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date: July 5, 2007&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/Timothy J. Cope
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD colspan="2" align="left">Timothy J. Cope&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD colspan="2" align="left">President and Chief Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT INDEX</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" colspan="1" style="border-bottom: 1px solid #000000"><B>Exhibit No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.1</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Purchase Agreement dated as of June
22, 2007 among Lakes KAR &#151; Shingle Springs, LLC, Shingle Springs
Band of Miwok Indians, Shingle Springs Tribal Gaming authority,
Morgan Stanley &#38; Co. Incorporated and Wells Fargo Securities, LLC.</TD>
</TR>

<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.2</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Notes Dominion Account Agreement
dated June 28, 2007 among Lakes KAR &#151; Shingle Springs, LLC and the Bank of New York
Trust Company, N.A.</TD>
</TR>

<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.3</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Security Agreement Acknowledgement
dated June 28, 2007 between Lakes KAR &#151; Shingle Springs, LLC and
the Shingle Springs Tribal Gaming Authority.</TD>
</TR>

<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.4</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Intercreditor and Subordination
Agreement dated June 28, 2007 among Lakes KAR &#151; Shingle Springs,
LLC and the Bank of New York Trust Company, N.A.</TD>
</TR>

<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.5</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Assignment and Assumption Agreement
dated April 20, 2007 among the Shingle Springs Band of Miwok Indians,
Shingle Springs Tribal Gaming Authority and Lakes KAR &#151; Shingle
Springs, LLC.</TD>
</TR>

<TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Lakes Entertainment, Inc. Press Release dated June&nbsp;29, 2007</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>c16485exv10w1.htm
<DESCRIPTION>PURCHASE AGREEMENT
<TEXT>
<HTML>
<HEAD>
<TITLE>exv10w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;10.1</B>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>EXECUTION COPY</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>$450,000,000</B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">SHINGLE SPRINGS TRIBAL GAMING AUTHORITY

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">9<SUP style="font-size: 85%; vertical-align: text-top">3</sup>/<SUB style="font-size: 85%; vertical-align: text-bottom">8</sub>% SENIOR NOTES DUE 2015

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">PURCHASE AGREEMENT

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">June&nbsp;22, 2007
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 6pt">June&nbsp;22, 2007</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 0pt">Morgan Stanley &#038; Co. Incorporated<BR>
Wells Fargo Securities, LLC<BR>
c/o Morgan Stanley &#038; Co. Incorporated<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1585 Broadway<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New York, New York 10036

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Ladies and Gentlemen:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shingle Springs Tribal Gaming Authority, (the &#147;<B>Authority</B>&#148;), a wholly-owned unincorporated
instrumentality of the Shingle Springs Band of Miwok Indians, a federally recognized Indian tribe
(the &#147;<B>Tribe,</B>&#148; and together with the Authority, the &#147;<B>Tribal Parties</B>&#148;), proposes to issue and sell to
the several purchasers named in Schedule&nbsp;I hereto (the &#147;<B>Initial Purchasers</B>&#148;) $450,000,000 principal
amount of its 9<SUP style="font-size: 85%; vertical-align: text-top">3</sup>/<SUB style="font-size: 85%; vertical-align: text-bottom">8</sub>% Senior Notes due 2015 (the &#147;<B>Securities</B>&#148;) to be issued pursuant to the provisions
of an Indenture (the &#147;<B>Indenture</B>&#148;), to be dated the Closing Date (as defined below), among the
Authority, the Tribe and The Bank of New York Trust Company, N.A., as Trustee (the &#147;<B>Trustee</B>&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Securities will be offered without being registered under the Securities Act of 1933, as
amended (the &#147;<B>Securities Act</B>&#148;), to qualified institutional buyers in compliance with the exemption
from registration provided by Rule&nbsp;144A under the Securities Act and in offshore transactions in
reliance on Regulation&nbsp;S under the Securities Act (&#147;<B>Regulation&nbsp;S</B>&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the sale of the Securities, the Authority and Lakes KAR-Shingle Springs,
LLC, a Delaware limited liability company (the &#147;<B>Manager</B>&#148;) have prepared a preliminary offering
memorandum (the &#147;<B>Preliminary Memorandum</B>&#148;) and will prepare a final offering memorandum (the &#147;<B>Final
Memorandum</B>&#148;) including or incorporating by reference a description of the terms of the Securities,
the terms of the offering and a description of the Authority and the Tribe. For purposes of this
purchase agreement (the &#147;<B>Agreement</B>&#148;), &#147;<B>Additional Written Offering Communication</B>&#148; means any written
communication (as defined in Rule&nbsp;405 under the Securities Act) that constitutes an offer to sell
or a solicitation of an offer to buy the Securities other than the Preliminary Memorandum or the
Final Memorandum, and &#147;<B>Time of Sale Memorandum</B>&#148; means the Preliminary Memorandum together with the
Additional Written Offering Communications, if any, each identified in Schedule&nbsp;II hereto. As used
herein, the terms Preliminary Memorandum, Time of Sale Memorandum and Final Memorandum shall
include the documents, if any, incorporated by reference therein.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In order to establish a security interest in certain collateral described in the Final
Memorandum (the &#147;<B>Collateral</B>&#148;) to secure the Authority&#146;s obligations under the Securities, on or
before the Closing Date (as defined below) there will have been executed, (i)&nbsp;a Security Agreement
by and among the Authority and the Trustee (the &#147;<B>Security Agreement</B>&#148;) (ii)&nbsp;a Cash Collateral and
Disbursement Agreement among the Authority, the Disbursement Agent (as defined therein), the
Collateral Agent (as defined therein), the Trustee, the Manager and the ICC (as defined therein)
(the &#147;<B>Disbursement Agreement</B>&#148;), (iii)&nbsp;a certain Notes Dominion Account Agreement (the &#147;<B>Dominion
Account Agreement</B>&#148; and, together with the Security Agreement, and the Disbursement Agreement, the
&#147;<B>Collateral Documents</B>&#148;) among the Authority, the Collateral Agent, the Manager and a local
depositary bank. This Agreement, the Securities, the Indenture and the Collateral Documents are
hereinafter referred to collectively as the &#147;<B>Offering Documents</B>.&#148; The agreements set forth on
<U>Schedule&nbsp;III</U> hereto are hereinafter referred to collectively as the &#147;<B>Material Agreements</B>.&#148;
The Offering Documents and the Material Agreements are referred to, collectively, as the
&#147;<B>Transaction Documents</B>.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;<I>Representations and Warranties</I>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.01 Each of the Tribal Parties represents and warrants to, and agrees with, you that:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) (i)&nbsp;the Time of Sale Memorandum does not, and at the time of each sale of the
Securities in connection with the offering when the Final Memorandum is not yet available
to prospective purchasers and at the Closing Date (as defined in Section 4), the Time of
Sale Memorandum, as then amended or supplemented by the Authority, if applicable, will
not, contain any untrue statement of a material fact or omit to state a material fact
necessary to make the statements therein, in the light of the circumstances under which
they were made, not misleading, (ii)&nbsp;the Preliminary Memorandum, when taken together with
the pricing term sheet listed on Schedule&nbsp;II hereto, does not contain and the Final
Memorandum, in the form used by the Initial Purchasers to confirm sales and on the Closing
Date (as defined in Section&nbsp;4), will not contain any untrue statement of a material fact
or omit to state a material fact necessary to make the statements therein, in the light of
the circumstances under which they were made, not misleading, except that the
representations and warranties set forth in this paragraph do not apply to statements or
omissions in the Preliminary Memorandum, the Time of Sale Memorandum or the Final
Memorandum based upon information furnished to the Authority in writing by an Initial
Purchaser through you expressly for use therein.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except for the Additional Written Offering Communications, if any, identified in
Schedule&nbsp;II hereto, and electronic road shows, if any, furnished to you before first use,
the Authority has not prepared, used or referred to, and will not, without your prior
consent, prepare, use or refer to, any Additional Written Offering Communication.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Tribe is an Indian tribe within the meaning of the Indian Gaming Regulatory
Act of 1988, as amended (&#147;<B>IGRA</B>&#148;), with the authority to enter into and perform its
obligations under the Offering Documents.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Articles of Association of the Tribe (the &#147;<B>Articles</B>&#148;), duly and validly
adopted by the Tribe on June&nbsp;19, 1976, and amended thereafter from time to time, is the
only articles of association of the Tribe and is the valid principal governing document of
the Tribe.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The tribal council referred to in the Articles (the &#147;<B>Tribal Council</B>&#148;) is the
governing body of the Tribe, and all members of the Tribal Council are validly serving.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The Tribal-State Compact between the State of California and the Tribe, effective
May&nbsp;16, 2000, as amended, (the &#147;<B>Compact</B>&#148;), has been duly and validly authorized, executed
and delivered by each of the State of California and the Tribe, has been duly approved by
the Secretary of the Interior of the United States, as required by IGRA, such approval has
been duly published in the Federal Register in accordance with IGRA, and no further action
is required to make the Compact effective. The Compact complies with the requirements of
IGRA in all respects material to the ability of the Tribal Parties to perform their
respective obligations under the Offering Documents. As of the date hereof, each of the
Tribal Parties is in compliance with all material terms and conditions of the Compact.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) The Financial Source Licensing regulation (the &#147;<B>Tribal Licensing Regulation</B>&#148;)
adopted pursuant to Resolution GC 2007-01 of the Shingle Springs Tribal Gaming Commission
(the &#147;<B>Tribal Gaming Commission</B>&#148;) applies to the Securities. California Gambling Control
Commission Regulation&nbsp;CGCC-2 (the &#147;<B>State Bond Regulation</B>&#148;) applies to the Securities. The
Indenture complies with the requirements for an indenture described in Section (g)&nbsp;of the
State Bond Regulation.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) In accordance with the Tribal Licensing Regulation, (a)&nbsp;no person who purchases
less than 10% of the aggregate principal amount of the issued and outstanding Securities,
(b)&nbsp;no agency of the federal, state or local government, (c)&nbsp;no federally or
state-regulated bank or savings and
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">loan association and (d)&nbsp;no securities dealer acting in compliance with Section
3(h)(ii) of the Tribal Licensing Regulation is required to be licensed as a &#147;financial
source&#148; under the Compact. No person who is not an &#147;initial holder&#148; (as defined in the
Tribal Licensing Regulation, and which term does not include any securities dealer acting
in compliance with Section&nbsp;3(h)(ii) of the Tribal Licensing Regulation) is required to be
licensed as a financial source under the Compact prior to purchasing the Securities
provided, that neither any holder that is not licensed or exempted from licensing by the
Tribal Gaming Commission, nor any person acting on behalf of the holder, will have any
right to enforce any payment obligation relating to the Securities against any revenues,
property, or rights of the Authority or the Tribe, or any branch, department, agency,
instrumentality, division, subsidiary, enterprise, authority or wholly-owned corporation
or business of the Tribe until such time as the holder is licensed by the Tribal Gaming
Commission. Further, in accordance with the Tribal Licensing Regulation, the Tribal
Gaming Commission has determined that a registration by a Qualifying Institution (as
defined in the Tribal Licensing Regulation) with the California Gambling Control
Commission (<B>&#147;State Commission&#148;</B>) shall constitute a determination by the State Commission
that the Qualifying Institution is suitable for licensure under the Compact and the Tribal
Gaming Commission shall rely on such a determination as a determination of the suitability
of the applicant for licensure as a Financial Source under the Compact.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Tribal Council has duly and validly adopted the Tribal Gaming Ordinance of
the Tribe (the &#147;<B>Gaming Ordinance</B>&#148;). As required by IGRA, the Gaming Ordinance was duly
approved by the National Indian Gaming Commission (the &#147;<B>NIGC</B>&#148;) on July&nbsp;6, 1996. The
Gaming Ordinance (i)&nbsp;has not been further amended or repealed and is in full force and
effect as the law of the Tribe, (ii)&nbsp;authorizes class II and class III gaming within the
meaning of IGRA that is proposed to be conducted by the Authority, (iii)&nbsp;satisfies the
requirements under IGRA that the Tribe adopt a gaming ordinance prior to engaging in class
II or class III gaming and (iv)&nbsp;complies in all material respects with the requirements of
the Compact and IGRA.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) The Tribal Council has the requisite power and authority to adopt the ordinance
dated April&nbsp;20, 2007 entitled &#147;An Ordinance of the Shingle Springs Band of Miwok Indians
Establishing and Governing the Shingle Springs Tribal Gaming Authority&#148; (the &#147;<B>Authority
Ordinance</B>&#148;), which amended in its entirety the tribal ordinance dated May&nbsp;12, 2004
entitled &#147;Ordinance Establishing and Governing The Foothill Oaks Tribal Gaming Authority,&#148;
and said Authority Ordinance is the law of the Tribe.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">The Authority Ordinance (i)&nbsp;was duly and validly adopted by the Tribal Council, (ii)
is in full force and effect, (iii)&nbsp;has not been further amended or repealed in any manner
and (iv)&nbsp;is the governing law of the Tribe.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) The Authority (i)&nbsp;is a wholly-owned unincorporated governmental authority of the
Tribe and is not a separate entity from the Tribe for federal or state income tax purposes
and (ii)&nbsp;is governed by a board of directors (the &#147;<B>Management Board</B>&#148;) which has the
requisite power and authority to adopt resolution no. 2007-06 authorizing the Authority to
enter into this Agreement, the Collateral Documents and the Indenture and to issue the
Securities. The Management Board has duly adopted the resolution referenced in clause
(ii)&nbsp;above and is in full force and effect and has not been amended or repealed in any
manner. The Authority has not created and will not create any instrumentality,
subdivision or subunit and the Authority does not have any Subsidiary.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) Each of the Tribal Parties has all requisite power and authority necessary to
enter into, execute, deliver and perform their obligations, if any, under the Offering
Documents, and to consummate the transactions contemplated by the Time of Sale Memorandum.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) No initiative or referendum rights exist for the members of the Tribe permitting
any member or any number of members of the Tribe to call for or conduct, in any manner, a
review of any actions taken by the Authority or the Tribal Council, whether by way of an
initiative, referendum or otherwise, with respect to any authorization, execution,
delivery or performance of its obligations under the Offering Documents, by the Authority
or the Tribal Council or any actions contemplated to be taken by the Authority or the
Tribal Council in connection therewith, except as set forth in Articles XI and XII of the
Articles (the &#147;<B>Articles Referendum Right</B>&#148;). No vote or other action has ever occurred or
been taken in connection with the Articles Referendum Right, and no vote or petition for a
vote is pending or threatened with respect to any exercise of the Articles Referendum
Right in connection with any matter that would reasonably be expected to (A)&nbsp;individually
or in the aggregate, have a material adverse effect on the business, condition (financial
or otherwise), results of operations, properties, affairs or prospects of the Authority,
taken as a whole, or the ability of the Authority to timely perform its obligations under
the Offering Documents, (B)&nbsp;interfere with or adversely affect the issuance or
marketability of the Securities to be issued on the Closing Date, or (C)&nbsp;in any manner
draw into question the validity of the Offering Documents or the Compact, the transactions
described in the Time of Sale Memorandum or prohibit or prevent the Authority from using
the proceeds from the offering of the Securities in the manner described in the Time of
Sale Memorandum under the caption &#147;Use of
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->5<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Proceeds&#148; (any of the events set forth in clauses (A), (B)&nbsp;or (C), a &#147;<B>Tribal Parties
Material Adverse Effect</B>&#148;).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) This Agreement has been duly authorized, executed and delivered by each of the
Tribal Parties and is a valid and binding agreement of each of the Tribal Parties,
enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency or
similar laws affecting creditors&#146; rights generally and general principles of equity.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) As of the Closing Date, the Securities will be duly authorized and, when executed
and authenticated in accordance with the provisions of the Indenture and delivered to and
paid for by the Initial Purchasers in accordance with the terms of this Agreement, will be
valid and binding obligations of the Authority, enforceable in accordance with their
terms, subject to applicable bankruptcy, insolvency and similar laws affecting creditors&#146;
rights generally and general principles of equity, and will be entitled to the benefits of
the Indenture pursuant to which such Securities are to be issued.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) As of the Closing Date, the Indenture will be duly authorized, executed and
delivered by, and will be a valid and binding agreement of, each of the Tribal Parties,
enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency or
similar laws affecting creditors&#146; rights generally and general principles of equity.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) As of the Closing Date, each of the Collateral Documents will be duly authorized,
executed and delivered by, and will be a valid and binding agreement of, each of the
Tribal Parties that are parties thereto, enforceable in accordance with its terms, subject
to applicable bankruptcy, insolvency or similar laws affecting creditors&#146; rights generally
and general principles of equity.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) As of the Closing Date, each of the Material Agreements to which each of the
Tribal Parties is a party will be duly authorized, executed and delivered by, and will be
a valid and binding agreement of, each of the Tribal Parties that are parties thereto,
enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency or
similar laws affecting creditors&#146; rights generally and general principles of equity.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) Except as described in the Time of Sale Memorandum, there exist no conditions
that would constitute a default (or an event which with notice or the lapse of time, or
both, would constitute a default) by the Tribal Parties under any of the Offering
Documents or Material Agreements to which each of the Tribal Parties is a party.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->6<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) Upon the (A)&nbsp;execution and delivery to the Collateral Agent (as defined in the
Indenture) of each of the Collateral Documents and (B)&nbsp;filing of the UCC-1 financing
statements as contemplated by the Collateral Documents; the Collateral Agent will have a
valid, duly perfected, first priority security interest in all of the Collateral listed in
the Collateral Documents, subject to any liens permitted by the Collateral Documents, as
security for the payment of the obligations of the Authority under the Offering Documents.
The actions, recordings and filings described in the immediately preceding sentence are
the only actions, recordings and filings necessary to publish notice of and perfect the
rights of the Collateral Agent in all of the Collateral, other than deposit accounts
created after the Closing Date, except for such additional actions, recordings and filings
as the Authority, the Initial Purchasers and the Trustee may determine prior to the
Closing Date.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) Except as described in the Time of Sale Memorandum, neither of the Tribal Parties
is now and, after giving effect to the offering of the Securities, will be (i)&nbsp;in
violation of any of its organizational documents, (ii)&nbsp;in default in the performance of
any bond, debenture, note, indenture, mortgage, deed of trust or other agreement or
instrument to which it is a party or by which it is bound or to which any of its
properties is subject, or (iii)&nbsp;in violation of the Compact or any local, tribal, state or
federal law, statute, ordinance, rule, regulation, requirement, judgment or court decree
(including, without limitation, any requirement, regulation or decree under IGRA or the
Compact) applicable to each of the Tribal Parties or any of its assets or properties
(whether owned or leased), other than, in the case of clauses (ii)&nbsp;and (iii), any default
or violation that would not reasonably be expected to have a Tribal Parties Material
Adverse Effect. Except as disclosed in the Time of Sale Memorandum, to the best knowledge
of each of the Tribal Parties, there exists no condition that, with notice, the passage of
time or otherwise, would constitute a default under any such document or instrument which
default would have a Tribal Parties Material Adverse Effect. Each of the Tribal Parties
is and has been in compliance with all local, tribal, state and federal statutes, laws,
ordinances, rules and regulations applicable to its properties and its business, except
where the failure so to be in compliance would not have a Tribal Parties Material Adverse
Effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Except as described in the Time of Sale Memorandum, none of (i)&nbsp;the execution,
delivery or performance by the Tribal Parties of this Agreement or the Collateral
Documents or the Material Agreements, (ii)&nbsp;the issuance and sale of the Securities, and
(iii)&nbsp;the consummation by the Tribal Parties of the transactions contemplated hereby and
thereby or described in the Time of Sale Memorandum under the caption &#147;Use of
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->7<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Proceeds&#148; will (A)&nbsp;violate, conflict with or result in a breach of any of the terms
or provisions of, or constitute a default under (or an event that with notice or the lapse
of time, or both, would constitute a default), or require consent under (other than
consents which were previously obtained or will have been obtained on or before the
Closing Date), or result in the creation or imposition of any lien, charge or encumbrance
upon any property or assets of the Tribal Parties, or an acceleration of any indebtedness
of the Tribal Parties, except for liens, charges, and encumbrances contemplated thereby,
(B)&nbsp;violate or conflict with any organizational document of the Tribe, (C)&nbsp;assuming
compliance with all applicable state securities and &#147;blue sky&#148; laws and assuming
compliance by the Initial Purchasers of Section&nbsp;6.4.6 of the Compact, and the State Bond
Regulation, violate or conflict with any statute, rule or regulation applicable to each of
the Tribal Parties or any of its respective assets or properties (including, but without
limitation, any Gaming Law), (D)&nbsp;violate or conflict with any judgment, decree, order,
statute, law, ordinance, rule or regulation of any court or any public, governmental or
regulatory agency, body or authority having jurisdiction over each of the Tribal Parties
or any of its respective assets or properties or (E)&nbsp;violate or conflict with any
provision of any bond, debenture, note, indenture, mortgage, deed of trust or other
agreement or instrument to which each of the Tribal Parties is a party or by which each of
the Tribal Parties or its respective properties is or may be bound, other than, in the
case of clauses (A), (C), (D)&nbsp;or (E), any default, violation or conflict that would not
reasonably be expected to have a Tribal Parties Material Adverse Effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) Other than as described in the Time of Sale Memorandum, no consent, approval,
authorization or order of, or filing, registration, qualification, license or permit of or
with, (i)&nbsp;any court or governmental, regulatory or administrative agency or authority
having jurisdiction over the Tribal Parties or any of their respective properties or
assets (including, without limitation, the Secretary of the Interior or any Gaming
Authority), or (ii)&nbsp;any other person is required for the execution, delivery and
performance by each of the Tribal Parties of this Agreement and the consummation of the
transactions contemplated hereby, except (A)&nbsp;such as have been or will be obtained and
made on or prior to the Closing Date, (B)&nbsp;routine organizational filings and renewals of
licenses, (C)&nbsp;routine filings under the Securities Act and the Securities and Exchange Act
of 1934, as amended (the &#147;<B>Exchange Act</B>&#148;), (D)&nbsp;filings with the applicable Gaming Authority
or (E)&nbsp;where the failure to obtain any such consent, approval, authorization or order of,
or filing, registration, qualification, license or permit would not, individually or in
the aggregate, reasonably be expected to result in a Tribal Parties Material Adverse
Effect.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->8<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) There has not occurred any material adverse change, or any development reasonably
likely to result in a prospective material adverse change, in the condition, financial or
otherwise, or in the earnings, business or operations of the Tribal Parties, taken as a
whole, from that set forth in the Time of Sale Memorandum provided to prospective
purchasers of the Securities.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) Except as described in the Time of Sale Memorandum, there are no tribal, state or
federal legal, regulatory or governmental proceedings pending or threatened to which
either of the Tribal Parties is a party or to which any of the properties of the Tribal
Parties is subject other than proceedings accurately described in all material respects in
the Time of Sale Memorandum and proceedings that would not have a material adverse effect
on the Tribal Parties or on the power or ability of either of the Tribal Parties to
perform its obligations under the Offering Documents or to consummate the transactions
contemplated by the Time of Sale Memorandum and the Final Memorandum.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z) Each of the Tribal Parties (i)&nbsp;is in compliance with any and all applicable
foreign, federal, state and local laws and regulations relating to the protection of human
health and safety, the environment or hazardous or toxic substances or wastes, pollutants
or contaminants (&#147;<B>Environmental Laws</B>&#148;), (ii)&nbsp;have received all permits, licenses or other
approvals required of them under applicable Environmental Laws to conduct their respective
businesses and (iii)&nbsp;are in compliance with all terms and conditions of any such permit,
license or approval, except where such noncompliance with Environmental Laws, failure to
receive required permits, licenses or other approvals or failure to comply with the terms
and conditions of such permits, licenses or approvals would not, singly or in the
aggregate, have a material adverse effect on the Tribal Parties.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa) Except as described in the Time of Sale Memorandum, neither of the Tribal
Parties is subject to any alleged liability, or to the best knowledge of the Tribal
Parties, potential liability (including, without limitation, alleged or potential
liability or investigatory costs, cleanup costs, governmental response costs, natural
resource damages, property damages, personal injuries or penalties) arising out of, based
on or resulting from (i)&nbsp;the presence or release into the environment of any Hazardous
Material (as defined below) at any location, whether or not owned by the Tribal Parties,
as the case may be, or (ii)&nbsp;any violation or alleged violation of any Environmental Law,
which alleged or potential liability or violation or alleged violation would reasonably be
expected to have a Tribal Parties Material Adverse Effect. The term &#147;<B>Hazardous Material</B>&#148;
means (A)&nbsp;any &#147;hazardous substance&#148; as defined by the Comprehensive Environmental
Response, Compensation and Liability Act
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->9<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">of 1980, as amended, (B)&nbsp;any &#147;hazardous waste&#148; as defined by the Resource
Conservation and Recovery Act, as amended, (C)&nbsp;any petroleum or petroleum product, (D)&nbsp;any
polychlorinated biphenyl, and (E)&nbsp;any material, substance or waste classified or regulated
as toxic, hazardous, pollutant or contaminant or words of similar meaning under or within
the meaning of any other applicable law relating to protection of the environment.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bb) Each of the Tribal Parties possesses, and is operating in compliance with, all
certificates, approvals, orders, franchises, authorities, licenses (including, without
limitation, Gaming Licenses) or permits issued by the appropriate local, state, federal,
tribal or foreign regulatory agencies or bodies (including any Gaming Authority) as are
necessary to own and lease its properties and as are legally required for the operation of
the Authority&#146;s businesses as presently conducted or as described in the Time of Sale
Memorandum (collectively, all such legally required certificates, approvals, orders,
franchises, authorities, licenses and permits are referred to herein as &#147;<B>Licenses</B>&#148;), all
of which are valid and in full force and effect, except as would not reasonably be
expected to have a Tribal Parties Material Adverse Effect and except for such Licenses
which the Tribe would not customarily possess at the date hereof but which will be
obtained in the ordinary course of development of the casino. Neither of the Tribal
Parties has received any notice of proceedings relating to, limiting, suspending,
modifying, revoking or failing to renew any of such Licenses. The descriptions in the
Time of Sale Memorandum of local, state, federal, tribal or foreign statutes, laws,
ordinances, rules and regulations governing the Tribal Parties and their respective
business, including, without limitation, any proposed amendments or additions to any such
statutes, laws, ordinances, rules or regulations, are accurate in all material respects
and fairly present the information required to be shown therein. Neither of the Tribal
Parties has received any notice of the enactment, amendment or repeal of any such
statutes, laws, ordinances, rules or regulations required to be described in the Time of
Sale Memorandum, except for such enactments, amendments or repeals as are described in the
Time of Sale Memorandum.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(cc) On the Closing Date, the Authority will be insured by recognized and financially
sound institutions with policies covering its properties, operations, personnel and
businesses, in such amounts and with such deductibles and covering such losses and risks
as are consistent with industry practice to protect the Authority and its business as in
effect on the Closing Date (&#147;<B>Insurance</B>&#148;).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(dd) Except as described in the Time of Sale Memorandum, there are no costs or
liabilities associated with Environmental Laws
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->10<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">(including, without limitation, any capital or operating expenditures required for
clean-up, closure of properties or compliance with Environmental Laws or any permit,
license or approval, any related constraints on operating activities and any potential
liabilities to third parties) which would, singly or in the aggregate, have a Tribal
Parties Material Adverse Effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ee) Neither of the Tribal Parties is, and after giving effect to the offering and
sale of the Securities and the application of the proceeds thereof as described in the
Final Memorandum will be, required to register as an &#147;investment company&#148; as such term is
defined in the Investment Company Act of 1940, as amended.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ff) Neither the Authority nor any affiliate (as defined in Rule 501(b) of Regulation
D under the Securities Act, an &#147;<B>Affiliate</B>&#148;) of the Authority has directly, or through any
agent, (i)&nbsp;sold, offered for sale, solicited offers to buy or otherwise negotiated in
respect of, any security (as defined in the Securities Act) which is or will be integrated
with the sale of the Securities in a manner that would require the registration under the
Securities Act of the Securities or (ii)&nbsp;offered, solicited offers to buy or sold the
Securities by any form of general solicitation or general advertising (as those terms are
used in Regulation&nbsp;D under the Securities Act) or in any manner involving a public
offering within the meaning of Section&nbsp;4(2) of the Securities Act.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(gg) McGladrey &#038; Pullen LLP, who has certified or will certify the financial
statements and schedules of the Authority included as part of and Time of Sale Memorandum,
are independent auditors with regard to the Authority as required by the Securities Act
and the rules and regulations promulgated thereunder.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(hh) The historical financial statements of the Authority, together with related
schedules and notes thereto, included in the Preliminary Memorandum, the Time of Sale
Memorandum and the Final Memorandum present fairly the financial position of the
Authority, as of the dates indicated and the results of operations and cash flows of the
Authority, for the periods specified therein. Such historical financial statements
(including the related notes and schedules) have been prepared in accordance with
generally accepted accounting principles applied on a consistent basis throughout the
periods specified therein, and subject, in the case of interim statements, to normal
recurring adjustments. Except as set forth in the Time of Sale Memorandum, since the date
of the latest of such historical financial statements, there has been no material increase
in the Indebtedness (as defined in the Time of Sale Memorandum) of the Authority, and
there has been no material adverse change in the financial
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->11<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">position, results of operations or business of the Authority. The other financial
and statistical information and data of the Authority, included in the Preliminary
Memorandum, the Time of Sale Memorandum and the Final Memorandum, have been fairly stated
in all material respects in relation to the relevant financial statements, of the
Authority, from which such information has been derived.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) None of the Authority, its Affiliates or any person acting on its or their
behalf has engaged or will engage in any directed selling efforts (within the meaning of
Regulation&nbsp;S) with respect to the Securities and the Authority and its Affiliates and any
person acting on its or their behalf have complied and will comply with the offering
restrictions requirement of Regulation&nbsp;S, except no representation, warranty or agreement
is made by the Authority in this paragraph with respect to the Initial Purchasers.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(jj) The waivers of sovereign immunity (including the related agreements to submit
claims to binding arbitration) by the Tribal Parties contained in this Agreement are in
compliance with all applicable federal, state, local government, tribal and Governmental
Component laws, ordinances, rules, regulations and resolutions, and are irrevocable
waivers, valid and legally binding on the Tribal Parties, enforceable against each in
accordance with its terms and no further action is required to make them effective.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(kk) It is not necessary in connection with the offer, sale and delivery of the
Securities to the Initial Purchasers in the manner contemplated by this Agreement to
register the Securities under the Securities Act or to qualify the Indenture under the
Trust Indenture Act of 1939, as amended.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ll) The Securities satisfy the requirements set forth in Rule&nbsp;144A(d)(3) under the
Securities Act.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(mm) No law of the Tribe imposes any restrictions on the rate, yield or return
payable by or on behalf of the Tribe or the Authority on its indebtedness.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(nn) As of the Closing Date, each parcel of land on which the Foothill Oaks Casino is
proposed to be located, together with all improvements related thereto included within the
meaning of &#147;Class&nbsp;III gaming facility&#148; within the Compact (collectively, the &#147;<B>Casino
Site</B>&#148;), will constitute Indian land, within the meaning of IGRA, over which the Tribe has
jurisdiction and on which class II and class III gaming is permitted to be conducted by
the Authority under IGRA. As of the Closing Date, the Casino Site will be held by the
United States in trust for the benefit of the
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->12<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Tribe, subject to no mortgage, lien, easement, interest, estate or other encumbrance
that would reasonably be expected to result in a Tribal Parties Material Adverse Effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(oo) The Authority has the exclusive right to develop and operate, collect the
revenues of, and pledge the revenues and assets of the Foothill Oaks Casino, subject to
the ownership rights of the Tribe in and to the real property and the buildings and
fixtures located thereon and related thereto held in trust for the Tribe by the United
States and the rights of the Manager pursuant to the Development and Management Agreement.
Upon completion of the Highway 50 interchange project described in the Time of Sale
Memorandum, the Authority will have all necessary and desirable access and right to enter
onto the lands held in trust for the Tribe for the purpose of operating the Foothill Oaks
Casino and conducting the business of the Authority.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(pp) Except as set forth in the Time of Sale Memorandum and the Final Memorandum, the
contemplated operation and use and construction of the Foothill Oaks Casino and Resort in
the manner set forth in the Time of Sale Memorandum and the Final Memorandum will be, at
the time of operation and use and construction, as applicable, in compliance with all
applicable municipal, county, state, tribal and federal laws, regulations, ordinances,
standards, order and other regulations, except where the failure to comply therewith would
not, individually or in the aggregate, have a Tribal Parties Material Adverse Effect.
Except as set forth in the Time of Sale Memorandum and the Final Memorandum, under current
applicable Gaming Laws, the Foothill Oaks Casino may be used for the purposes contemplated
in the Time of Sale Memorandum, the Final Memorandum, the Indenture, the Securities and
the Security Documents.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(qq) The anticipated schedule of construction of the Foothill Oaks Casino is as set
forth in the Final Memorandum. The anticipated cost of construction of the Foothill Oaks
Casino (including interest, legal, architectural, engineering, planning, zoning and other
similar costs) does not exceed the amounts for such costs set forth under the caption &#147;Use
of Proceeds&#148; in the Time of Sale Memorandum and the Final Memorandum. In addition, each
of the other amounts set forth under the caption &#147;Use of Proceeds&#148; in the Time of Sale
Memorandum and the Final Memorandum are based upon reasonable assumptions as to all
matters material to the estimates set forth therein and are not expected to exceed the
amounts set forth for such items.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(rr) Except as disclosed in the Time of Sale Memorandum and the Final Memorandum, no
relationship, direct or indirect, exists between or among any of the Tribal Parties, on
the one hand, and the directors,
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->13<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">officers, employees, representatives, council members or Affiliates, of any of the
Tribal Parties, on the other hand, which would be required by the Securities Act to be
described in the Final Memorandum if the Final Memorandum were a prospectus included in a
registration statement on Form S-1 filed with the Securities and Exchange Commission.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ss) The statistical and market-related data included in the Time of Sale Memorandum
and the Final Memorandum are based on or derived from sources which the Authority believes
to be reliable and accurate in all material respects.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(tt) The Secured Transactions Code of the Tribe (the &#147;<B>UCC</B>&#148;) was duly and validly
adopted by the Tribal Council, and is a valid law of the Tribe. No applicable law,
ordinance, rule, regulation or resolution of the Tribe, or any agency, subdivision,
department, commission or enterprise (each, a &#147;<B>Governmental Component</B>&#148;) thereof conflicts
with or contravenes the UCC.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(uu) The Arbitration Code of the Tribe (the &#147;<B>Tribal Arbitration Code</B>&#148;) was duly and
validly adopted by the Tribal Council, and is the valid law of the Tribe. No applicable
law, ordinance, rule, regulation or resolution of the Tribe, any Governmental Component
thereof or any court of the Tribe conflicts with or contravenes the Tribal Arbitration
Code.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vv) None of the execution, delivery and performance of this Agreement, the issuance
and sale of the Securities, the application of the proceeds from the issuance of the
Securities and the consummation of the transactions contemplated thereby as set forth in
the Final Memorandum, will violate Regulation&nbsp;T (12 C.F.R. Part&nbsp;220), Regulation&nbsp;U (12
C.F.R. Part&nbsp;221) or Regulation&nbsp;X (12 C.F.R. Part&nbsp;224) promulgated by the Board of
Governors of the Federal Reserve System or analogous foreign law and regulations.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ww) Other than the engagement letter with respect to the offering of the Securities,
there are no contracts, agreements or understandings between the Tribal Parties and any
other party that would give rise to a valid claim against any of the Tribal Parties for a
brokerage commission, finder&#146;s fee or like payment in connection with this offering or the
issuance of the Securities.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xx) Other than those submitted for review by the Chairman of the National Indian
Gaming Commission in connection with the approval of the Development and Management
Agreement, as defined in the Indenture, none of the Offering Documents or the Material
Agreements to which any Tribal Party is a party, taken individually or as a whole,
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->14<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">constitutes a &#147;management contract&#148; or a &#147;management agreement&#148; within the meaning of
25 U.S.C. &#167; 2711, or deprives the Authority of the sole proprietary interest and
responsibility of the conduct of gaming. Other than those received or filed as of the
Closing Date, no consent, approval, authorization or order of, and notice to or filing
with, any governmental agency or body or any court, including specifically the Secretary
of the Interior of the United States or the Chairman of the National Indian Gaming
Commission, is required to be obtained in connection with the execution, delivery and
performance of the Transaction Documents or as a condition of their validity or
enforceability.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Tribal Parties acknowledge that the Initial Purchasers and, for purposes of the
opinions to be delivered to the Initial Purchasers pursuant to Section&nbsp;5 hereof, counsel
for the Initial Purchasers, counsel for the Tribal Parties and counsel for the Manager
will rely upon the accuracy and truth of the foregoing representations and hereby consent
to such reliance.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.02 The Manager represents and warrants to, and agrees with, the Initial Purchasers and the
Tribal Parties that:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Manager has no subsidiaries, has been duly organized, is validly existing as
a Delaware limited liability company in good standing under the laws of the jurisdiction
of its organization, has the limited liability company power and authority to own its
property and to conduct its business as described in the Time of Sale Memorandum and is
duly qualified to transact business and is in good standing in each jurisdiction in which
the conduct of its business or its ownership or leasing of property requires such
qualification, except to the extent that the failure to be so qualified or be in good
standing would not have a material adverse effect on the Manager, taken as a whole (the
&#147;<B>Manager Material Adverse Effect</B>&#148;).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) This Agreement has been duly authorized, executed and delivered by the Manager
and is a valid and binding agreement of the Manager, enforceable in accordance with its
terms, subject to applicable bankruptcy, insolvency or similar laws affecting creditors&#146;
rights generally and general principles of equity.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each of the Collateral Documents to which the Manager is a party has been duly
authorized, executed and delivered by, and is a valid and binding agreement of, the
Manager, enforceable in accordance with its terms, subject to applicable bankruptcy,
insolvency or similar laws affecting creditors&#146; rights generally and general principles of
equity.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->15<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Each of the Material Agreements to which the Manager is a party has been duly
authorized, executed and delivered by, and is a valid and binding agreement of, the
Manager, enforceable in accordance with its terms, subject to applicable bankruptcy,
insolvency or similar laws affecting creditors&#146; rights generally and general principles of
equity.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The Manager is not now and, after giving effect to the offering of the
Securities, will not be (i)&nbsp;in violation of any of its organizational documents, (ii)&nbsp;in
default in the performance of any bond, debenture, note, indenture, mortgage, deed of
trust or other agreement or instrument to which it is a party or by which it is bound or
to which any of its properties is subject, or (iii)&nbsp;in violation of any local, state or
federal law, statute, ordinance, rule, regulation, requirement, judgment or court decree
other than, in the case of clauses (ii)&nbsp;and (iii), any default or violation that would not
reasonably be expected to have a Manager Material Adverse Effect. Except as disclosed in
the Time of Sale Memorandum, to the best knowledge of the Manager, there exists no
condition that, with notice, the passage of time or otherwise, would constitute a default
under any such document or instrument referred to in clauses (i)&nbsp;and (ii)&nbsp;which default
would have a Manager Material Adverse Effect. The Manager is and has been in compliance
with all local, state and federal statutes, laws, ordinances, rules and regulations
applicable to its properties and its business, except where the failure so to be in
compliance would not have a Manager Material Adverse Effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) None of (i)&nbsp;the execution, delivery or performance by the Manager of this
Agreement or the Collateral Documents to which the Manager is a party or the Material
Agreements to which the Manager is a party, and (ii)&nbsp;the consummation by the Manager of
the transactions contemplated hereby and thereby will (A)&nbsp;violate, conflict with or result
in a breach of any of the terms or provisions of, or constitute a default under (or an
event that with notice or the lapse of time, or both, would constitute a default), or
require consent under (other than consents which were previously obtained or will have
been obtained on or before the Closing Date), or result in the creation or imposition of
any lien, charge or encumbrance upon any property or assets of the Manager, or an
acceleration of any indebtedness of the Manager, except for liens, charges, and
encumbrances contemplated thereby, (B)&nbsp;violate or conflict with any organizational
document of the Manager, (C)&nbsp;violate or conflict with any statute, rule or regulation
applicable to the Manager or any of its respective assets or properties (including, but
without limitation, any Gaming Law), (D)&nbsp;violate or conflict with any judgment, decree,
order, statute, law, ordinance, rule or regulation of any court or any public,
governmental or regulatory agency, body or authority having jurisdiction
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->16<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">over the Manager or any of its assets or properties or (E)&nbsp;violate or conflict with
any provision of any bond, debenture, note, indenture, mortgage, deed of trust or other
agreement or instrument to which the Manager is a party or by which the Manager or its
properties is or may be bound, other than, in the case of clauses (A), (C), (D)&nbsp;or (E),
any default, violation or conflict that would not reasonably be expected to have a Manager
Material Adverse Effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Other than as described in the Time of Sale Memorandum, no consent, approval,
authorization or order of, or filing, registration, qualification, license or permit of or
with, (i)&nbsp;any court or governmental, regulatory or administrative agency or authority
having jurisdiction over the Manager or any of its properties or assets (including,
without limitation, the Secretary of the Interior or any Gaming Authority), or (ii)&nbsp;any
other person is required for the execution, delivery and performance by the Manager of
this Agreement and the consummation of the transactions contemplated hereby and thereby,
except (A)&nbsp;such as have been or will be obtained and made on or prior to the Closing Date,
(B)&nbsp;routine organizational filings and renewals of licenses, (C)&nbsp;routine filings under the
Securities Act and the Exchange Act, (D)&nbsp;filings with the applicable Gaming Authority or
(E)&nbsp;where the failure to obtain any such consent, approval, authorization or order of, or
filing, registration, qualification, license or permit would not, individually or in the
aggregate, reasonably be expected to result in a Manager Material Adverse Effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) There has not occurred any material adverse change, or any development which is
reasonably likely to result in a prospective material adverse change, in the condition,
financial or otherwise, or in the earnings, business or operations of the Manager from
that set forth in the Time of Sale Memorandum provided to prospective purchasers of the
Securities.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Other than proceedings accurately described in all material respects in the Time
of Sale Memorandum, there are no legal or governmental proceedings pending or, to the
Manager&#146;s knowledge, threatened to which the Manager is a party or to which any of the
properties of the Manager is subject that would have a Manager Material Adverse Effect or
that would adversely affect the power or ability of the Manager to perform its obligations
under this Agreement, or to consummate the transactions contemplated by the Time of Sale
Memorandum.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) The Manager possesses, and is operating in compliance with, all certificates,
approvals, orders, franchises, authorities, licenses (including, without limitation,
Gaming Licenses (as defined in the
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->17<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Indenture)) or permits issued by the appropriate local, state, federal, tribal or
foreign regulatory agencies or bodies (including any Gaming Authority) as are necessary to
own and lease its properties as currently contemplated and as are legally required for (i)
the performance of its obligations under the Material Agreements to which it is a party
and (ii)&nbsp;for the operation of its business as presently conducted except those that would
not reasonably be expected to result in a Manager Material Adverse Effect (collectively,
all such legally required certificates, approvals, orders, franchises, authorities,
licenses and permits are referred to herein as &#147;<B>Manager Licenses</B>&#148;), all of which are valid
and in full force and effect. The Manager has not received any notice of proceedings
relating to, limiting, suspending, modifying, revoking or failing to renew any of such
Manager Licenses. The descriptions in the Time of Sale Memorandum of local, state,
federal, tribal or foreign statutes, laws, ordinances, rules and regulations governing the
Manager and its businesses, including, without limitation, any proposed amendments or
additions to any such statutes, laws, ordinances, rules or regulations, are accurate in
all material respects and fairly present the information required to be shown therein.
The Manager has not received any notice of the enactment, amendment or repeal of any such
statutes, laws, ordinances, rules or regulations required to be described in the Time of
Sale Memorandum, except for such enactments, amendments or repeals as are described in the
Time of Sale Memorandum.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) All material tax returns required to be filed by the Manager in all jurisdictions
have been so filed. All taxes, including withholding taxes, penalties and interest,
assessments, fees and other charges due or claimed to be due from such entities or that
are due and payable have been paid, other than those being contested in good faith and for
which adequate reserves have been provided or those currently payable without penalty or
interest. To the knowledge of the Manager, there are no material proposed additional tax
assessments against the Manager, or the assets or property of the Manager, except those
tax assessments for which adequate reserves have been established.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) There are no contracts, agreements or understandings between the Manager and any
other party that would give rise to a valid claim against the Manager for a brokerage
commission, finder&#146;s fee or like payment in connection with this offering or the issuance
of the Securities.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) There exist no conditions that would constitute a default (or an event which
with notice or the lapse of time, or both, would constitute a default) by the Manager
under any of the Offering Documents or Material Agreements to which the Manager is a
party.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->18<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) No other person other than the Manager and those disclosed in writing to the
NIGC has an interest in the Material Agreements to which the Manager is a party which is
required to be disclosed to the NIGC.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) There are no management contracts or collateral agreements within the meaning of
IGRA relating to the Foothill Oaks Casino to which the Manager is a party except for the
Material Agreements and the Transaction Documents to which the Manager is a party.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) The statistical and market-related data included in the Final Memorandum are
based on or derived from sources which the Manager believes to be reliable and accurate in
all material respects.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) None of the Manager or its Affiliates or any person acting on its or any of
their behalf (other than the Initial Purchasers and the Tribal Parties, as to whom the
Manager makes no representation or warranty) has engaged or will engage, in connection
with the offering of the Securities, in any form of general solicitation or general
advertising within the meaning of Rule&nbsp;502 under the Securities Act. With respect to
those Securities sold in reliance upon Regulation&nbsp;S, (i)&nbsp;none of the Manager or its
Affiliates or any person acting on its or their behalf (other than the Initial Purchasers
and the Tribal Parties, as to whom the Manager makes no representation or warranty) has
engaged or will engage in any directed selling efforts within the meaning of Regulation&nbsp;S
and (ii)&nbsp;each of the Manager and its Affiliates and any person acting on its or their
behalf (other than the Initial Purchasers and the Tribal Parties, as to whom the Manager
makes no representation or warranty) has complied and will comply with the offering
restrictions set forth in Regulation&nbsp;S.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) None of the information furnished by the Manager for use in either the Time of
Sale Memorandum as of its date or the Final Memorandum, as of its date or as of the
Closing Date contains or represents an untrue statement of a material fact or omit to
state a material fact necessary in order to make the statements therein, in the light of
the circumstances under which they were made, not misleading; provided that this
representation, warranty and agreement shall not apply to statements in or omissions from
the Time of Sale Memorandum, the Final Memorandum or any amendment or supplement thereto
made in reliance upon and in conformity with information furnished to the Authority or the
Manager in writing by the Initial Purchasers expressly for use in the Time of Sale
Memorandum, the Final Memorandum or amendment or supplement thereto, as the case may be.
Neither the Manager nor its
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->19<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Affiliates has distributed or will distribute, prior to the later of the Closing Date and
the completion of the Initial Purchasers&#146; distribution of the Securities, any offering
material in connection with the offering and sale of the Securities other than the Time of
Sale Memorandum and the Final Memorandum.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) The anticipated schedule of construction of the Foothill Oaks Casino is as set
forth in the Final Memorandum. The anticipated cost of construction of the Foothill Oaks
Casino (including interest, legal, architectural, engineering, planning, zoning and other
similar costs) does not exceed the amounts for such costs set forth under the caption &#147;Use
of Proceeds&#148; in the Time of Sale Memorandum and the Final Memorandum. In addition, each
of the other amounts set forth under the caption &#147;Use of Proceeds&#148; in the Time of Sale
Memorandum and the Final Memorandum are based upon reasonable assumptions as to all
matters material to the estimates set forth therein and are not expected to exceed the
amounts set forth for such items.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) Each certificate signed by any officer of the Manager and delivered to the
Initial Purchasers, or counsel for the Initial Purchasers, shall be deemed a
representation and warranty by the Manager to the Initial Purchasers as to the matters
covered thereby.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The representations and warranties of the Manager to the Tribal Parties under this
Section&nbsp;1.02 shall not survive the Closing Date. Other than claims made under Section&nbsp;9
hereof, the Tribal Parties will not make a claim against the Manager after the Closing
Date based solely on a breach of representations or warranties under this Section&nbsp;1.02.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Manager acknowledges that the Initial Purchasers and, for purposes of the
opinions to be delivered to the Initial Purchasers pursuant to Section&nbsp;5 hereof, counsel
for the Initial Purchasers, counsel for the Tribal Parties and counsel for the Manager
will rely upon the accuracy and truth of the foregoing representations and hereby consent
to such reliance.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;<I>Agreements to Sell and Purchase</I>. The Authority hereby agrees to sell to the several
Initial Purchasers, and each Initial Purchaser, upon the basis of the representations and
warranties herein contained, but subject to the conditions hereinafter stated, agrees, severally
and not jointly, to purchase from the Authority the respective principal amount of Securities set
forth in Schedule&nbsp;I hereto opposite its name at a purchase price of 97.9% of the principal amount
thereof (the &#147;<B>Purchase Price</B>&#148;) plus accrued interest, if any, to the Closing Date.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->20<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;<I>Terms of Offering</I>. You have advised the Authority that the Initial Purchasers will make an
offering of the Securities purchased by the Initial Purchasers hereunder as soon as practicable
after this Agreement is entered into as in your judgment is advisable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;<I>Payment and Delivery. </I>Payment for the Securities shall be made to the Authority in Federal
or other funds immediately available in New York City against delivery of such Securities for the
respective accounts of the several Initial Purchasers at 10:00&nbsp;a.m., New York City time, on June
28, 2007, or at such other time on the same or such other date, not later than June&nbsp;28, 2007, as
shall be designated in writing by you. The time and date of such payment are hereinafter referred
to as the &#147;<B>Closing Date</B>.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Securities shall be in definitive form or global form, as specified by you, and registered
in such names and in such denominations as you shall request in writing not later than one full
business day prior to the Closing Date. The Securities shall be delivered to you on the Closing
Date for the respective accounts of the several Initial Purchasers, with any transfer taxes payable
in connection with the transfer of the Securities to the Initial Purchasers duly paid, against
payment of the Purchase Price therefor plus accrued interest, if any, to the date of payment and
delivery.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;<I>Conditions to the Initial Purchasers&#146; Obligations. </I>The several obligations of the Initial
Purchasers to purchase and pay for the Securities on the Closing Date are subject to the following
conditions:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subsequent to the execution and delivery of this Agreement and prior to the
Closing Date:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) there shall not have occurred any downgrading, nor shall any notice
have been given of any intended or potential downgrading or of any review for a
possible change that does not indicate the direction of the possible change, in
the rating accorded any of the securities of the Authority by any &#147;nationally
recognized statistical rating organization,&#148; as such term is defined for
purposes of Rule&nbsp;436(g)(2) under the Securities Act; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) there shall not have occurred any change, or any development involving
a prospective change, in the condition, financial or otherwise, or in the
earnings, business or operations of the Tribal Parties from that set forth in
the Time of Sale Memorandum as of the date of this Agreement provided to the
prospective purchasers of the Securities that, in your judgment, is material and
adverse and that makes it, in your judgment,
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->21<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">impracticable to market the Securities on the terms and in the manner
contemplated in the Time of Sale Memorandum.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Initial Purchasers shall have received on the Closing Date a certificate,
dated the Closing Date and signed by an executive officer of each of the Tribal Parties,
to the effect set forth in Section&nbsp;5(a)(i) and to the effect that the representations and
warranties of the Authority and the Tribe contained in this Agreement are true and correct
as of the Closing Date and that the Authority and the Tribe have complied with all of the
agreements and satisfied all of the conditions on their part to be performed or satisfied
hereunder on or before the Closing Date.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The officer signing and delivering such certificate may rely upon the best of his or
her knowledge as to proceedings threatened.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Initial Purchasers shall have received on the Closing Date a certificate,
dated the Closing Date and signed by an executive officer of the Manager, to the effect
that the representations and warranties of the Manager contained in this Agreement are
true and correct as of the Closing Date and that the Manager has complied with all of the
agreements and satisfied all of the conditions on its part to be performed or satisfied
hereunder on or before the Closing Date.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The officer signing and delivering such certificate may rely upon the best of his or
her knowledge as to proceedings threatened
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Initial Purchasers shall have received on the Closing Date an opinion dated
the Closing Date, to the effect set forth in (i)&nbsp;Exhibit&nbsp;A of Faegre &#038; Benson LLP, counsel
for the Authority and the Tribe, (ii)&nbsp;Exhibit&nbsp;B of Karshmer &#038; Associates, counsel for the
Authority and the Tribe, (iii)&nbsp;Exhibit&nbsp;C of Gray, Plant, Mooty, Mooty &#038; Bennett, P.A.,
Minnesota counsel for the Manager, and (iv)&nbsp;Exhibit&nbsp;D of Hamilton Quigley &#038; Twait, PLC,
special counsel for the Manager. Such opinion shall be rendered to the Initial Purchasers
at the request of the Authority, Tribe and Manager, as applicable, and shall so state
therein.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The Initial Purchasers shall have received on the Closing Date an opinion of
Latham &#038; Watkins LLP, counsel for the Initial Purchasers.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The Initial Purchasers shall have received on each of the date hereof and the
Closing Date a letter, dated the date hereof or the Closing Date, as the case may be, in
form and substance satisfactory to the Initial Purchasers, from McGladrey &#038; Pullen LLP,
independent public accountants to the Authority, containing statements and information of
the
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->22<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">type ordinarily included in accountants&#146; &#147;comfort letters&#148; to underwriters with
respect to the financial statements and certain financial information contained in or
incorporated by reference into the Time of Sale Memorandum and the Final Memorandum;
<I>provided </I>that the letter delivered on the Closing Date shall use a &#147;cut-off date&#148; not
earlier than the date hereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) The Authority shall have received all governmental and regulatory approval
required to be obtained prior to the Closing Date pursuant to this Agreement, the
Collateral Documents and the Indenture.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) The Tribal Gaming Commission shall have provided a complete exclusion from the
licensing requirements of Section&nbsp;6.4.6 of the Compacts for (i)&nbsp;all federally-regulated or
state-regulated banks, savings and loans or other federally- or state-regulated lending
institutions, (ii)&nbsp;any agency or the federal, state or local government or (iii)&nbsp;any
investor, who, alone or in conjunction with others, holds less than 10% of any outstanding
indebtedness evidenced by the bonds issued by such Tribe.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The State Commission shall have issued a determination that Morgan Stanley &#038; Co.
Incorporated meets the criteria for registration of Qualified Bond Holders pursuant to the
provisions of CGCC-2. The Tribal Gaming Commission shall have licensed Morgan Stanley &#038;
Co. Incorporated as a financial source.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) The Tribe and the Authority shall have received all requisite approvals from the
NIGC in connection with the Offering Documents and the Material Agreements.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) With respect to any Collateral Document to be executed on the Closing Date, the
Authority and each of the other parties thereto shall have entered into each such
Collateral Document to which each is a party. With respect to any Material Agreements to
be executed at the Closing Time, the Authority and each of the other parties thereto shall
have entered into each such Material Agreements to which each is a party. With respect to
any Material Agreement entered into prior to the Closing Date, such Material Agreement
shall be in full force and effect, and as of the date hereof, there shall not be any
defaults or events of default, that with notice, the passage of time or otherwise could be
a default, under any provisions of such Material Agreements by any party thereto, other
than as would not, individually or in the aggregate, result in a Tribal Parties Material
Adverse Effect. The Initial Purchasers shall have received executed copies of each
Collateral Document and Material Agreement.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->23<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) The Initial Purchasers shall have performed a recent lien, tax lien, judgment and
litigation search in each of the jurisdictions or offices in which Uniform Commercial Code
financing statements or other filings or recordations should be made to evidence or
perfect (with the priority required under the Collateral Documents) security interests in
all assets and property of the Authority, and such search shall reveal no security
interest, mortgage, pledge, lien, encumbrance, claim or equity; other than liens permitted
by the Indenture and the Collateral Documents.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) All documents and agreements shall have been filed, and other actions shall have
been taken, as may be required to perfect the security interests of the Trustee and to
accord the Trustee the priorities over other creditors of the Authority as contemplated by
the Final Memorandum and Offering Documents. All consents to assignment of documents and
agreements required by the Offering Documents shall have been executed by the third
parties named therein.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) On the Closing Date, the Initial Purchaser shall have received proof of insurance
of the Authority that satisfies the insurance covenant in the Indenture.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;<I>Covenants of the Authority</I>. The Authority covenants with each Initial Purchaser as follows:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) To furnish to you in New York City, without charge, prior to 10:00&nbsp;a.m. New York
City time on the business day next succeeding the date of this Agreement and during the
period mentioned in Section 6(d) or (e), as many copies of the Time of Sale Memorandum,
the Final Memorandum, any documents incorporated by reference therein and any supplements
and amendments thereto as you may reasonably request.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Before amending or supplementing the Preliminary Memorandum, the Time of Sale
Memorandum or the Final Memorandum, to furnish to you a copy of each such proposed
amendment or supplement and not to use any such proposed amendment or supplement to which
you reasonably object.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) To furnish to you a copy of each proposed Additional Written Offering
Communication to be prepared by or on behalf of, used by, or referred to by the Authority
and not to use or refer to any proposed Additional Written Offering Communication to which
you reasonably object.<SUP style="font-size: 85%; vertical-align: text-top"> </SUP>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If the Time of Sale Memorandum is being used to solicit offers to buy the
Securities at a time when the Final Memorandum is not
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->24<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">yet available to prospective purchasers and any event shall occur or condition exist
as a result of which it is necessary to amend or supplement the Time of Sale Memorandum in
order to make the statements therein, in the light of the circumstances, not misleading,
or if, in the opinion of counsel for the Initial Purchasers, it is necessary to amend or
supplement the Time of Sale Memorandum to comply with applicable law, forthwith to prepare
and furnish, at its own expense, to the Initial Purchasers and to any dealer upon request,
either amendments or supplements to the Time of Sale Memorandum so that the statements in
the Time of Sale Memorandum as so amended or supplemented will not, in the light of the
circumstances when delivered to a prospective purchaser, be misleading or so that the Time
of Sale Memorandum, as amended or supplemented, will comply with applicable law.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) If, during such period after the date hereof and prior to the date on which all
of the Securities shall have been sold by the Initial Purchasers, any event shall occur or
condition exist as a result of which it is necessary to amend or supplement the Final
Memorandum in order to make the statements therein, in the light of the circumstances when
the Final Memorandum is delivered to a purchaser, not misleading, or if, in the opinion of
counsel for the Initial Purchasers, it is necessary to amend or supplement the Final
Memorandum to comply with applicable law, forthwith to prepare and furnish, at its own
expense, to the Initial Purchasers, either amendments or supplements to the Final
Memorandum so that the statements in the Final Memorandum as so amended or supplemented
will not, in the light of the circumstances when the Final Memorandum is delivered to a
purchaser, be misleading or so that the Final Memorandum, as amended or supplemented, will
comply with applicable law.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) To cooperate with the Initial Purchasers and counsel for the Initial Purchasers
to qualify the Securities for offer and sale under the securities or Blue Sky laws of such
jurisdictions as you shall reasonably request. The Authority shall not be required to
qualify as a foreign corporation or to take any action that would subject it to general
service of process in any such jurisdiction where it is not presently qualified or where
it would be subject to taxation as a foreign corporation.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Whether or not the transactions contemplated in this Agreement are consummated or
this Agreement is terminated, to pay or cause to be paid all expenses incident to the
performance of its obligations under this Agreement, including: (i)&nbsp;the fees,
disbursements and expenses of the Authority&#146;s counsel and the Authority&#146;s accountants in
connection with the issuance and sale of the Securities and all other fees or expenses in
connection with the preparation of the Preliminary Memorandum, the
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->25<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Time of Sale Memorandum, the Final Memorandum, any Additional Written Offering
Communication prepared by or on behalf of, used by, or referred to by the Authority and
any amendments and supplements to any of the foregoing, including all printing costs
associated therewith, and the delivering of copies thereof to the Initial Purchasers, in
the quantities herein above specified, (ii)&nbsp;50% of the fees, disbursements and expenses of
all counsel and consultants of the Initial Purchasers (including, but not limited to,
counsel for the Initial Purchasers, Indian law counsel to the Initial Purchasers, any
insurance consultant of the Initial Purchasers and the Independent Construction Consultant
(as defined in the Indenture), (iii)&nbsp;all costs and expenses related to the transfer and
delivery of the Securities to the Initial Purchasers, including any transfer or other
taxes payable thereon, (iv)&nbsp;the cost of printing or producing any Blue Sky or legal
investment memorandum in connection with the offer and sale of the Securities under state
securities laws and all expenses in connection with the qualification of the Securities
for offer and sale under state securities laws as provided in Section 6(f) hereof,
including filing fees and the reasonable fees and disbursements of counsel for the Initial
Purchasers in connection with such qualification and in connection with the Blue Sky or
legal investment memorandum, (v)&nbsp;any fees charged by rating agencies for the rating of the
Securities, (vi)&nbsp;the fees and expenses, if any, incurred in connection with the admission
of the Securities for trading in PORTAL or any appropriate market system, (vii)&nbsp;the costs
and charges of the Trustee and any transfer agent, registrar or depositary, (viii)&nbsp;the
cost of the preparation, issuance and delivery of the Securities, (ix)&nbsp;the costs and
expenses of the Authority relating to investor presentations on any &#147;road show&#148; undertaken
in connection with the marketing of the offering of the Securities, including, without
limitation, expenses associated with the preparation or dissemination of any electronic
road show, expenses associated with production of road show slides and graphics, fees and
expenses of any consultants engaged in connection with the road show presentations with
the prior approval of the Authority, travel and lodging expenses of the representatives
and officers of the Authority and any such consultants, and the cost of any aircraft
chartered in connection with the road show, (x)&nbsp;the document production charges and
expenses associated with printing this Agreement and (xi)&nbsp;all other cost and expenses
incident to the performance of the obligations of the Authority hereunder for which
provision is not otherwise made in this Section. It is understood, however, that except
as otherwise provided in this Section, Section&nbsp;9, and the last paragraph of Section&nbsp;12,
the Initial Purchasers will pay all of their costs and expenses, including fees and
disbursements of their counsel, transfer taxes payable on resale of any of the Securities
by them and any advertising expenses connected with any offers they may make.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->26<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Neither the Authority nor any Affiliate will sell, offer for sale or solicit
offers to buy or otherwise negotiate in respect of any security (as defined in the
Securities Act) which could be integrated with the sale of the Securities in a manner
which would require the registration under the Securities Act of the Securities.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Not to solicit any offer to buy or offer or sell the Securities by means of any
form of general solicitation or general advertising (as those terms are used in Regulation
D under the Securities Act) or in any manner involving a public offering within the
meaning of Section&nbsp;4(2) of the Securities Act.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) While any of the Securities remain &#147;restricted securities&#148; within the meaning of
the Securities Act, to make available, upon request, to any seller of such Securities the
information specified in Rule&nbsp;144A(d)(4) under the Securities Act, unless the Authority is
then subject to Section&nbsp;13 or 15(d) of the Exchange Act.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) If requested by you, to use its best efforts to permit the Securities to be
designated PORTAL securities in accordance with the rules and regulations adopted by the
National Association of Securities Dealers, Inc. relating to trading in the PORTAL Market.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) None of the Authority, its Affiliates or any person acting on its or their behalf
(other than the Initial Purchasers) will engage in any directed selling efforts (as that
term is defined in Regulation&nbsp;S) with respect to the Securities, and the Authority and its
Affiliates and each person acting on its or their behalf (other than the Initial
Purchasers) will comply with the offering restrictions requirement of Regulation&nbsp;S.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) During the period of two years after the Closing Date, the Authority will not,
and will not permit any of its affiliates (as defined in Rule&nbsp;144 under the Securities
Act) to resell any of the Securities which constitute &#147;restricted securities&#148; under Rule
144 that have been reacquired by any of them.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) Not to take any action prohibited by Regulation&nbsp;M under the Exchange Act in
connection with the distribution of the Securities contemplated hereby.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;<I>Covenants of the Tribe. </I>The Tribe covenants with each Initial Purchaser as follows:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) To advise the Initial Purchasers promptly and, if requested by the Initial
Purchasers, to confirm such advice in writing, of the happening
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->27<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">of any event that makes any statements of a material fact made in the Time of Sale
Memorandum untrue or that requires the making of any additions to or changes in the Time
of Sale Memorandum in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not to sell, offer for sale or solicit offers to buy or otherwise negotiate in
respect of any security (as defined in the Securities Act) that would be integrated with
the sale of the Securities in a manner that would require the registration under the
Securities Act of the sale to the Initial Purchasers or the Eligible Purchasers of the
Securities or to take any other action that would result in the sale of the Securities
pursuant hereto or the Exempt Resales not being exempt from registration under the
Securities Act.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) To take any other actions reasonably requested by the Authority or the Initial
Purchasers to enable the Authority to comply with its obligations set forth in Section&nbsp;4
hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;<I>Offering of Securities; Restrictions on Transfer</I>. (a)&nbsp;Each Initial Purchaser, severally
and not jointly, represents and warrants that such Initial Purchaser is a qualified institutional
buyer as defined in Rule&nbsp;144A under the Securities Act (a &#147;<B>QIB</B>&#148;). Each Initial Purchaser, severally
and not jointly, agrees with the Authority that (i)&nbsp;it will not solicit offers for, or offer or
sell, such Securities by any form of general solicitation or general advertising (as those terms
are used in Regulation&nbsp;D under the Securities Act) or in any manner involving a public offering
within the meaning of Section&nbsp;4(2) of the Securities Act and (ii)&nbsp;it will solicit offers for such
Securities only from, and will offer such Securities only to, persons that it reasonably believes
to be (A)&nbsp;in the case of offers inside the United States, QIBs and (B)&nbsp;in the case of offers
outside the United States, to persons other than U.S. persons (&#147;<B>foreign purchasers,</B>&#148; which term
shall include dealers or other professional fiduciaries in the United States acting on a
discretionary basis for foreign beneficial owners (other than an estate or trust)) in reliance upon
Regulation&nbsp;S under the Securities Act that, in each case, in purchasing such Securities are deemed
to have represented and agreed as provided in the Final Memorandum under the caption &#147;Transfer
Restrictions&#148;.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each Initial Purchaser, severally and not jointly, represents, warrants, and
agrees with respect to offers and sales outside the United States that:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) such Initial Purchaser understands that no action has been or will be
taken in any jurisdiction by the Authority that would permit a public offering
of the Securities, or possession or
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->28<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">distribution of the Preliminary Memorandum, the Time of Sale Memorandum,
the Final Memorandum or any other offering or publicity material relating to the
Securities, in any country or jurisdiction where action for that purpose is
required;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) such Initial Purchaser will comply with all applicable laws and
regulations in each jurisdiction in which it acquires, offers, sells or delivers
Securities or has in its possession or distributes the Preliminary Memorandum,
the Time of Sale Memorandum, the Final Memorandum or any such other material, in
all cases at its own expense;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the Securities have not been registered under the Securities Act and
may not be offered or sold within the United States or to, or for the account or
benefit of, U.S. persons except in accordance with Rule&nbsp;144A or Regulation&nbsp;S
under the Securities Act or pursuant to another exemption from the registration
requirements of the Securities Act;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) such Initial Purchaser has offered the Securities and will offer and
sell the Securities (A)&nbsp;as part of their distribution at any time and (B)
otherwise until 40&nbsp;days after the later of the commencement of the offering and
the Closing Date, only in accordance with Rule&nbsp;903 of Regulation&nbsp;S or as
otherwise permitted in Section&nbsp;8(a); accordingly, neither such Initial
Purchaser, its Affiliates nor any persons acting on its or their behalf have
engaged or will engage in any directed selling efforts (within the meaning of
Regulation&nbsp;S) with respect to the Securities, and any such Initial Purchaser,
its Affiliates and any such persons have complied and will comply with the
offering restrictions requirement of Regulation&nbsp;S;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) such Initial Purchaser, in relation to each Member State of the
European Economic Area which has implemented the Prospectus Directive (each, a
&#147;<B>Member State</B>&#148;), has represented and agreed that with effect from and including
the date on which the Prospectus Directive is implemented in that Member State
it has not made and will not make an offer of Securities to the public in that
Member State, except that it may, with effect from and including such date, make
an offer of Securities to the public in that Member State:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) at any time to legal entities which are authorized or
regulated to operate in the financial markets
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->29<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">or, if not so authorised or regulated, whose corporate purpose is
solely to invest in securities;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) at any time to any legal entity which has two or more of (1)
an average of at least 250 employees during the last financial year;
(2)&nbsp;a total balance sheet of more than <font face="times new roman,times">&#128;</font>43,000,000 and (3)&nbsp;an
annual net turnover of more than <font face="times new roman,times">&#128;</font>50,000,000, as shown in its last
annual or consolidated accounts; or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) at any time in any other circumstances which do not require
the publication by us of a prospectus pursuant to Article&nbsp;3 of the
Prospectus Directive.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">For the purposes of the above, the expression an &#147;offer of Securities to the public&#148; in
relation to any Securities in any Member State means the communication in any form and by
any means of sufficient information on the terms of the offer and the Securities to be
offered so as to enable an investor to decide to purchase or subscribe the Securities, as
the same may be varied in that Member State by any measure implementing the Prospectus
Directive in that Member State and the expression &#147;Prospectus Directive&#148; means Directive
2003/71/EC and includes any relevant implementing measure in that Member State;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) such Initial Purchaser has represented and agreed that it has only
communicated or caused to be communicated and will only communicate or cause to
be communicated an invitation or inducement to engage in investment activity
(within the meaning of Section&nbsp;21 of the Financial Services and Markets Act
2000) in connection with the issue or sale of the Securities in circumstances in
which Section&nbsp;21(1) of such Act does not apply to us and it has complied and
will comply with all applicable provisions of such Act with respect to anything
done by it in relation to any Securities in, from or otherwise involving the
United Kingdom;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) such Initial Purchaser understands that the Securities have not been
and will not be registered under the Securities and Exchange Law of Japan, and
represents that it has not offered or sold, and agrees not to offer or sell,
directly or indirectly, any Securities in Japan or for the account of any
resident thereof except pursuant to any exemption from the registration
requirements of the Securities and Exchange Law of Japan and otherwise in
compliance with applicable provisions of Japanese law; and
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->30<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) such Initial Purchaser agrees that, at or prior to confirmation of
sales of the Securities, it will have sent to each distributor, dealer or person
receiving a selling concession, fee or other remuneration that purchases
Securities from it during the restricted period a confirmation or notice to
substantially the following effect:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;The Securities covered hereby have not been registered under the
U.S. Securities Act of 1933 (the &#147;Securities Act&#148;) and may not be
offered and sold within the United States or to, or for the account or
benefit of, U.S. persons (i)&nbsp;as part of their distribution at any time
or (ii)&nbsp;otherwise until 40&nbsp;days after the later of the commencement of
the offering and the closing date, except in either case in accordance
with Regulation&nbsp;S (or Rule&nbsp;144A if available) under the Securities Act.
Terms used above have the meaning given to them by Regulation&nbsp;S.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Terms used in this Section&nbsp;8(b) have the meanings given to them by Regulation&nbsp;S.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.&nbsp;<I>Indemnity and Contribution</I>. (a)&nbsp;The Authority agrees to indemnify and hold harmless each
Initial Purchaser, each person, if any, who controls any Initial Purchaser within the meaning of
either Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act, and each affiliate of
any Initial Purchaser within the meaning of Rule&nbsp;405 under the Securities Act from and against any
and all losses, claims, damages and liabilities (including, without limitation, any legal or other
expenses reasonably incurred in connection with defending or investigating any such action or
claim) caused by any untrue statement or alleged untrue statement of a material fact contained in
the Preliminary Memorandum, the Time of Sale Memorandum, any Additional Written Offering
Communication prepared by or on behalf of, used by, or referred to by the Authority, or the Final
Memorandum or any amendment or supplement thereto, or caused by any omission or alleged omission to
state therein a material fact necessary to make the statements therein in the light of the
circumstances under which they were made not misleading, except insofar as such losses, claims,
damages or liabilities are caused by any such untrue statement or omission or alleged untrue
statement or omission based upon information relating to any Initial Purchaser furnished to the
Authority in writing by such Initial Purchaser through you expressly for use therein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The Manager agrees to indemnify and hold harmless each Initial Purchaser, each person, if
any, who controls any Initial Purchaser within the meaning of either Section&nbsp;15 of the Securities
Act or Section&nbsp;20 of the Exchange Act, and each affiliate of any Initial Purchaser within the
meaning of
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->31<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Rule&nbsp;405 under the Securities Act from and against any and all losses, claims, damages and
liabilities (including, without limitation, any legal or other expenses reasonably incurred in
connection with defending or investigating any such action or claim), but only with reference to
information furnished by the Manager to the Authority or the Initial Purchaser, as the case may be,
in writing by the Manager for use in the Preliminary Memorandum, the Time of Sale Memorandum, any
Additional Written Offering Communication prepared by or on behalf of, used by or referred to by
the Authority or the Initial Purchasers, or the Final Memorandum or any amendment or supplement
thereto.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;The Manager agrees to indemnify and hold harmless each Tribal Party, each person, if any,
who controls any Tribal Party within the meaning of either Section&nbsp;15 of the Securities Act or
Section&nbsp;20 of the Exchange Act, and each affiliate of any Tribal Party within the meaning of Rule
405 under the Securities Act from and against any and all losses, claims, damages and liabilities
related to third party actions or claims (including, without limitation, any legal or other
expenses reasonably incurred in connection with defending or investigating any such action or
claim), but only with reference to information furnished by the Manager to the Authority or the
Initial Purchaser, as the case may be, in writing by the Manager for use in the Preliminary
Memorandum, the Time of Sale Memorandum, any Additional Written Offering Communication prepared by
or on behalf of, used by or referred to by the Authority or the Initial Purchasers, or the Final
Memorandum or any amendment or supplement thereto.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;Each Initial Purchaser agrees, severally and not jointly, to indemnify and hold harmless
the members of the Tribal Council, the Authority, the Manager, their respective directors and
officers and each person, if any, who controls the Authority or Manager within the meaning of
either Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act to the same extent as the
foregoing indemnity from the Authority or Manager to such Initial Purchaser, but only with
reference to information relating to such Initial Purchaser furnished to the Authority or Manager,
as the case may be, in writing by such Initial Purchaser through you expressly for use in the
Preliminary Memorandum, the Time of Sale Memorandum, any Additional Written Offering Communication
prepared by or on behalf of, used by or referred to by the Authority or Manager, or the Final
Memorandum or any amendment or supplement thereto.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;In case any proceeding (including any governmental investigation) shall be instituted
involving any person in respect of which indemnity may be sought pursuant to Section&nbsp;9(a), 9(b),
9(c) or 9(d), such person (the &#147;<B>indemnified party</B>&#148;) shall promptly notify the person against whom
such indemnity may be sought (the &#147;<B>indemnifying party</B>&#148;) in writing and the indemnifying party, upon
request of the indemnified party, shall retain counsel reasonably satisfactory to the indemnified
party to represent the indemnified party and any others the indemnifying party may designate in
such proceeding and shall
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->32<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">pay the fees and disbursements of such counsel related to such proceeding. In any such
proceeding, any indemnified party shall have the right to retain its own counsel, but the fees and
expenses of such counsel shall be at the expense of such indemnified party unless (i)&nbsp;the
indemnifying party and the indemnified party shall have mutually agreed to the retention of such
counsel or (ii)&nbsp;the named parties to any such proceeding (including any impleaded parties) include
both the indemnifying party and the indemnified party and representation of both parties by the
same counsel would be inappropriate due to actual or potential differing interests between them. It
is understood that the indemnifying party shall not, in respect of the legal expenses of any
indemnified party in connection with any proceeding or related proceedings in the same
jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to
any local counsel) for all such indemnified parties and that all such fees and expenses shall be
reimbursed as they are incurred. Such firm shall be designated in writing by Morgan Stanley &#038; Co.
Incorporated, in the case of parties indemnified pursuant to Section 9(a) and 9(b), by the Tribal
Party in the case of parties indemnified pursuant to Section&nbsp;9(c), and by the members of the Tribal
Council, the Authority or Manager, as the case may be, in the case of parties indemnified pursuant
to Section&nbsp;9(b). The indemnifying party shall not be liable for any settlement of any proceeding
effected without its written consent, but if settled with such consent or if there be a final
judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from
and against any loss or liability by reason of such settlement or judgment. Notwithstanding the
foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party
to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second
and third sentences of this paragraph, the indemnifying party agrees that it shall be liable for
any settlement of any proceeding effected without its written consent if (i)&nbsp;such settlement is
entered into more than 30&nbsp;days after receipt by such indemnifying party of the aforesaid request
and (ii)&nbsp;such indemnifying party shall not have reimbursed the indemnified party in accordance with
such request prior to the date of such settlement. No indemnifying party shall, without the prior
written consent of the indemnified party, effect any settlement of any pending or threatened
proceeding in respect of which any indemnified party is or could have been a party and indemnity
could have been sought hereunder by such indemnified party, unless such settlement includes an
unconditional release of such indemnified party from all liability on claims that are the subject
matter of such proceeding.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;To the extent the indemnification provided for in Section&nbsp;9(a), 9(b), 9(b) or 9(d) is
unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or
liabilities referred to therein, then each indemnifying party under such paragraph, in lieu of
indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by
such indemnified party as a result of such losses, claims,
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->33<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">damages or liabilities (i)&nbsp;in such proportion as is appropriate to reflect the relative
benefits received by the Tribal Parties, the Manager or the Initial Purchasers, as the case may be,
from the offering of the Securities or (ii)&nbsp;if the allocation provided by clause 9(f)(i) above is
not permitted by applicable law, in such proportion as is appropriate to reflect not only the
relative benefits referred to in clause 9(f)(i) above but also the relative fault of the Tribal
Parties, the Manager or the Initial Purchasers, as the case may be, in connection with the
statements or omissions that resulted in such losses, claims, damages or liabilities, as well as
any other relevant equitable considerations. The relative benefits received by the Tribal Parties,
the Manager or the Initial Purchasers, as the case may be, in connection with the offering of the
Securities shall be deemed to be in the same respective proportions as the net proceeds from the
offering of the Securities (before deducting expenses) received by the Tribal Parties or the
Manager, as the case may be, and the total discounts and commissions received by the Initial
Purchasers bear to the aggregate offering price of the Securities. The relative fault of the Tribal
Parties, the Manager or the Initial Purchasers, as the case may be, shall be determined by
reference to, among other things, whether the untrue or alleged untrue statement of a material fact
or the omission or alleged omission to state a material fact relates to information supplied by the
Tribal Parties, the Manager or the Initial Purchasers and the parties&#146; relative intent, knowledge,
access to information and opportunity to correct or prevent such statement or omission. The Initial
Purchasers&#146; respective obligations to contribute pursuant to this Section&nbsp;9 are several in
proportion to the respective principal amount of Securities they have purchased hereunder, and not
joint.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;The Authority, Manager and the Initial Purchasers agree that it would not be just or
equitable if contribution pursuant to this Section&nbsp;9 were determined by <I>pro rata </I>allocation (even
if the Initial Purchasers were treated as one entity for such purpose) or by any other method of
allocation that does not take account of the equitable considerations referred to in Section&nbsp;9(f).
The amount paid or payable by an indemnified party as a result of the losses, claims, damages and
liabilities referred to in Section 9(f) shall be deemed to include, subject to the limitations set
forth above, any legal or other expenses reasonably incurred by such indemnified party in
connection with investigating or defending any such action or claim. Notwithstanding the provisions
of this Section&nbsp;9, no Initial Purchaser shall be required to contribute any amount in excess of the
amount by which the total price at which the Securities resold by it in the initial placement of
such Securities were offered to investors exceeds the amount of any damages that such Initial
Purchaser has otherwise been required to pay by reason of such untrue or alleged untrue statement
or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the
meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person
who was not guilty of such fraudulent misrepresentation. The remedies provided for in this
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->34<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Section&nbsp;9 are not exclusive and shall not limit any rights or remedies which may otherwise be
available to any indemnified party at law or in equity.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;The indemnity and contribution provisions contained in this Section&nbsp;9 and the
representations, warranties and other statements of the Authority and the Manager contained in this
Agreement shall remain operative and in full force and effect regardless of (i)&nbsp;any termination of
this Agreement, (ii)&nbsp;any investigation made by or on behalf of any Initial Purchaser, any person
controlling any Initial Purchaser or any affiliate of any Initial Purchaser or by or on behalf of
the Authority or Manager, as the case may be, their respective officers or directors or any person
controlling the Authority or Manager, as the case may be, and (iii)&nbsp;acceptance of and payment for
any of the Securities.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.&nbsp;<I>Waiver of Sovereign Immunity, Arbitration and Non-Impairment.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.01 <U>Irrevocable Waiver of Sovereign Immunity</U>. Neither of the Tribal Parties
consents to any suit, arbitration, legal process, enforcement proceeding, or any dispute resolution
method, except as specifically provided in this Section&nbsp;10.01. Each of the Tribal Parties hereby
unconditionally and irrevocably waives its sovereign immunity and any and all defenses based
thereon with respect to any claim, demand, dispute, action or cause of action brought by any
Initial Purchaser arising under or in any way connected with or related or incidental to this
Agreement, as the same may be amended or modified from time to time, whether now existing or
hereafter arising and whether sounding in tort, contract or otherwise (collectively &#147;<B>Permitted
Claims</B>&#148;), as further provided in Sections&nbsp;10.01(a) &#150; (f)&nbsp;hereof. Such waiver shall also extend (a)
to permit the interpretation, enforcement and the seeking of legal or equitable relief and remedies
(whether through an award or granting of specific performance, injunction, mandamus, damages or
otherwise) by the parties hereto (and their successors and assigns permitted hereunder) through
arbitration proceedings as herein provided, and (b)&nbsp;to permit judicial actions to compel, enter
judgment upon, enforce, modify or vacate any award or interim injunctive relief related to the
arbitration proceedings in any of the Applicable Courts described in Section&nbsp;10.02 below; <I>provided
however </I>that such consent to arbitration does not amount to a general waiver of the sovereign
immunity of either of the Tribal Parties.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the foregoing waiver of sovereign immunity by each of the Tribal Parties:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;<I>Duration. </I>The waiver shall commence on the date hereof and apply to all Permitted Claims
that are commenced within three years after the occurrence of the facts that are the primary basis
of the action, or if later, three years from the date those facts reasonably should have been
discovered by the party bringing the action;
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->35<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;<I>Grantees. </I>The grantee(s) of the waiver are each party hereto, together with their
successors and assigns hereunder;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;<I>Scope. </I>The scope of the waiver applies to all Permitted Claims brought to (i)&nbsp;interpret
or enforce the provisions of this Agreement, including specifically and without limitation
(including any limitation set forth in the proviso at the end of this paragraph) any claims for
indemnification brought by the Initial Purchasers against the Tribal Parties under the terms of
this Agreement, (ii)&nbsp;enforce and execute any order, judgment, or ruling resulting from such an
action, or (iii)&nbsp;enforce any rights under the Indian Civil Rights Act, 25 U.S.C. &#167; 1301 <I>et seq.</I>,
<I>provided </I>that no claim shall be brought for punitive or consequential damages or for any claim
arising under federal or state securities laws;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;<I>Property and Funds. </I>The only assets or rights against which any award, judgment or other
order for relief arising from this waiver may be enforced are Gaming Assets as defined in
Resolution 2007-20 (the &#147;<B>Tribal Finance Resolution</B>&#148;), whether held in the name of the Authority,
the Tribe or any branch, department, agency, instrumentality, division, subsidiary, authority,
enterprise, corporation, business or other entity directly or indirectly owned or controlled in
whole or in part by either the Authority or the Tribe. Notwithstanding the foregoing, any revenues
or other property transferred by the Authority to any of the Tribal Parties in compliance with the
Securities Offering Documents shall, upon transfer, no longer constitute Gaming Assets;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;<I>Jurisdictions. </I>The courts with jurisdiction with respect to the Permitted Claims are the
Applicable Courts (as defined in Section&nbsp;10.02 below) (subject to the obligation of each of the
Tribal Parties to submit to arbitration as provided herein); and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;<I>Governing Law. </I>The law applicable to the waiver and the Permitted Claims shall be the
internal laws of the State of New York, except where application of the uniform commercial code of
the State of New York will not recognize a lien and the perfection of a lien on any Gaming Assets
as security for any performance of each of the Tribal Parties hereunder, and the UCC of the Tribe
will recognize the lien or the perfection of the lien, in which case the law the Tribe, as
applicable, that recognizes the lien and perfection shall apply.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.02 <U>Designation of Applicable Courts and Jurisdictions</U>. Each of the Tribal Parties
hereby irrevocably consents to the following courts, jurisdictions and venues for the judicial
actions described in Section&nbsp;10.01 above (the &#147;<B>Applicable Courts</B>&#148;): (a)&nbsp;the United States District
Court for the Southern District of New York, and all courts to which any appeal therefrom may be
available; (b)&nbsp;or if those courts lack jurisdiction over the action, any court of the State of New
York sitting in the City of New York, and all courts to which any
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->36<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">appeal therefrom may be available; (c)&nbsp;if none of the foregoing courts shall have or accept
jurisdiction, then the courts of the State of California, and all courts to which any appeal
therefrom may be available and (d)&nbsp;if none of the foregoing courts shall have or accept
jurisdiction, then any court of the Tribe (in the case of any Permitted Claim to which the Tribe or
the Authority is a party).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.03 <U>Additional Waivers as to Tribal Courts</U>. Each of the Tribal Parties hereby
unconditionally and irrevocably waives the jurisdiction of any tribal courts now or hereafter
existing or created with respect to any Permitted Claim, except as provided in clause (d)&nbsp;of
Section&nbsp;10.02 above. Each of the Tribal Parties unconditionally and irrevocably waives the
application of any rule or doctrine relating to exhaustion of tribal remedies or comity or
abstention that might otherwise require a Permitted Claim be heard in a tribal court.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.04 <U>Agreement not to Contest</U>. In connection with any Permitted Claim, each of the
Tribal Parties hereby unconditionally and irrevocably waives, to the fullest extent it may legally
and effectively do so, any objection which it may now or hereafter have to the laying of venue of
any suit, action or proceeding in any court of the United States District Court, Southern District
of New York, and any appellate court from which any appeals therefrom are available, any court of
the State of New York sitting in the City of New York, County of New York, and any appellate court
from which any appeals therefrom are available, or any court of the State of California and any
appellate court from which any appeals therefrom are available. Each of the Tribal Parties
consents to irrevocably waive, to the fullest extent permitted by law, the defense of an
inconvenient forum to the maintenance of such action or proceeding in any such court.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.05 <U>Arbitration</U>. Notwithstanding the irrevocable submission to the jurisdiction of
the courts described above by each of the parties hereto, each such party irrevocably and
unconditionally agrees that any party to any such instrument may (i)&nbsp;submit any controversy, claim,
suit or other action between or among the parties thereto arising out of or relating to this
Agreement, or the enforcement of rights hereunder, to binding arbitration or (ii)&nbsp;remove any such
action brought by any other party in any forum other than an arbitration contemplated hereby and
submit such action to be determined by binding arbitration. Any arbitration shall be conducted in
accordance with the Commercial Arbitration Rules of the American Arbitration Association (&#147;AAA&#148;).
Any controversy concerning whether an issue is arbitrable shall be determined by the arbitrators in
accordance with the AAA Commercial Arbitration Rules. Judgment upon the arbitration award may be
entered in any court having jurisdiction. The institution and maintenance of an action for
judicial relief or pursuit of a provisional or ancillary remedy will not constitute a waiver of the
right of any party hereto to submit the controversy or claim to arbitration if any
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->37<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">other party contests such action for judicial relief. Any arbitration undertaken pursuant this
Agreement will take place in the City of New York, County of New York<B>.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.&nbsp;<I>Termination</I>. The Initial Purchasers may terminate this Agreement by notice given by you to
the Authority, if after the execution and delivery of this Agreement and prior to the Closing Date
(i)&nbsp;trading generally shall have been suspended or materially limited on, or by, as the case may
be, any of the New York Stock Exchange, the American Stock Exchange, the NASDAQ Global Market, the
Chicago Board of Options Exchange, the Chicago Mercantile Exchange or the Chicago Board of Trade,
(ii)&nbsp;trading of any securities of the Authority shall have been suspended on any exchange or in any
over-the-counter market, (iii)&nbsp;a material disruption in securities settlement, payment or clearance
services in the United States shall have occurred, (iv)&nbsp;any moratorium on commercial banking
activities shall have been declared by Federal or New York State authorities or (v)&nbsp;there shall
have occurred any outbreak or escalation of hostilities, or any change in financial markets or any
calamity or crisis that, in your judgment, is material and adverse and which, singly or together
with any other event specified in this clause (v), makes it, in your judgment, impracticable or
inadvisable to proceed with the offer, sale or delivery of the Securities on the terms and in the
manner contemplated in the Time of Sale Memorandum or the Final Memorandum.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.&nbsp;<I>Effectiveness; Defaulting Initial Purchasers</I>. This Agreement shall become effective upon
the execution and delivery hereof by the parties hereto.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If, on the Closing Date, any one or more of the Initial Purchasers shall fail or refuse to
purchase Securities that it or they have agreed to purchase hereunder on such date, and the
aggregate principal amount of Securities which such defaulting Initial Purchaser or Initial
Purchasers agreed but failed or refused to purchase is not more than one-tenth of the aggregate
principal amount of Securities to be purchased on such date, the other Initial Purchasers shall be
obligated severally in the proportions that the principal amount of Securities set forth opposite
their respective names in Schedule&nbsp;I bears to the aggregate principal amount of Securities set
forth opposite the names of all such non-defaulting Initial Purchasers, or in such other
proportions as you may specify, to purchase the Securities which such defaulting Initial Purchaser
or Initial Purchasers agreed but failed or refused to purchase on such date; <I>provided </I>that in no
event shall the principal amount of Securities that any Initial Purchaser has agreed to purchase
pursuant to this Agreement be increased pursuant to this Section&nbsp;12 by an amount in excess of
one-ninth of such principal amount of Securities without the written consent of such Initial
Purchaser. If, on the Closing Date any Initial Purchaser or Initial Purchasers shall fail or
refuse to purchase Securities which it or they have agreed to purchase hereunder on such date and
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->38<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">the aggregate principal amount of Securities with respect to which such default occurs is more
than one-tenth of the aggregate principal amount of Firm Securities to be purchased on such date,
and arrangements satisfactory to you and the Authority for the purchase of such Securities are not
made within 36 hours after such default, this Agreement shall terminate without liability on the
part of any non-defaulting Initial Purchaser or of the Authority. In any such case either you or
the Authority shall have the right to postpone the Closing Date, but in no event for longer than
seven days, in order that the required changes, if any, in the Time of Sale Memorandum, the Final
Memorandum or in any other documents or arrangements may be effected. Any action taken under this
paragraph shall not relieve any defaulting Initial Purchaser from liability in respect of any
default of such Initial Purchaser under this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If this Agreement shall be terminated by the Initial Purchasers, or any of them, because of
any failure or refusal on the part of the Authority to comply with the terms or to fulfill any of
the conditions of this Agreement, or if for any reason the Authority shall be unable to perform its
obligations under this Agreement, the Authority will reimburse the Initial Purchasers or such
Initial Purchasers as have so terminated this Agreement with respect to themselves, severally, for
all out-of-pocket expenses (including the fees and disbursements of their counsel) reasonably
incurred by such Initial Purchasers in connection with this Agreement or the offering contemplated
hereunder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.&nbsp;<I>Entire Agreement</I>. (a)&nbsp;This Agreement, together with any contemporaneous written
agreements that relate to the offering of the Securities, represents the entire agreement between
the Authority, the Tribe and the Initial Purchasers with respect to the preparation of the
Preliminary Memorandum, the Time of Sale Memorandum, the Final Memorandum, the conduct of the
offering, and the purchase and sale of the Securities.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The Authority acknowledges that in connection with the offering of the Securities: (i)&nbsp;the
Initial Purchasers have acted at arms length, are not agents of, and owe no fiduciary duties to,
the Authority or any other person, (ii)&nbsp;the Initial Purchasers owe the Authority only those duties
and obligations set forth in this Agreement, and (iii)&nbsp;the Initial Purchasers may have interests
that differ from those of the Authority. The Authority waives to the full extent permitted by
applicable law any claims it may have against the Initial Purchasers arising from an alleged breach
of fiduciary duty in connection with the offering of the Securities.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.&nbsp;<I>Counterparts. </I>This Agreement may be signed in any number of counterparts, each of which
shall be an original, with the same effect as if the signatures thereto and hereto were upon the
same instrument.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->39<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.&nbsp;<I>Applicable Law. </I>This Agreement shall be governed by and construed in accordance with the
internal laws of the State of New York.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.&nbsp;<I>Headings. </I>The headings of the sections of this Agreement have been inserted for
convenience of reference only and shall not be deemed a part of this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.&nbsp;<I>Notices. </I>All communications hereunder shall be in writing and effective only upon receipt
and if to the Initial Purchasers shall be delivered, mailed or sent to you in care of Morgan
Stanley &#038; Co. Incorporated, 1585 Broadway, New York, New York 10036, Attention: High Yield
Syndicate Desk, with a copy to the Legal Department; and if to the Authority shall be delivered,
mailed or sent to P.O. Box 1660, El Dorado, California, 95623-1660, Attention: Chairperson.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->40<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Very truly yours,</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" nowrap>SHINGLE SPRINGS TRIBAL GAMING AUTHORITY</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/S/ Nicholas H. Fonseca
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Name: Nicholas H. Fonseca
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title: Chairman, Tribal Council</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/S/ Richard Lawson
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Name: Richard Lawson
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title: Chairman</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">SHINGLE SPRINGS BAND OF MIWOK INDIANS</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/S/ Nicholas H. Fonseca
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Name: Nicholas H. Fonseca
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title: Chairman</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->41<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">Acknowledged and agreed to as of the date hereof</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">LAKES KAR-SHINGLE SPRINGS, LLC</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/S/ Timothy Cope
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Name: Timothy Cope
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title: President and CFO</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->42<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">Accepted as of the date hereof</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">Morgan Stanley &#038; Co. Incorporated</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">Wells Fargo Securities, LLC</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Morgan Stanley &#038; Co. Incorporated</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/S/ Bryan W. Andrzejewski
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Name: Bryan W. Andrzejewski
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title: Executive Director</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->43<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>SCHEDULE I</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Principal Amount of</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Securities to be</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"> <B>Initial Purchaser</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Purchased</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Morgan Stanley &#038; Co. Incorporated</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">261,000,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Wells Fargo Securities, LLC</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">189,000,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Total:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">450,000,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">I-1
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>SCHEDULE II</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Time of Sale Memorandum</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Preliminary Memorandum issued June&nbsp;11, 2007</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>pricing term sheet dated June&nbsp;22, 2007</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>electronic roadshow posted on Netroadshow</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">II-1
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>SCHEDULE III</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Material Agreements</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Tribal-State Compact dated October&nbsp;8, 1999, between the Tribe and the State of California,
approved by the Secretary of the Interior on May&nbsp;5, 2000 and effective as of May&nbsp;16, 2000 by
publication in the Federal Register, as amended from time to time.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>First Amended and Restated Memorandum of Agreement Regarding Gaming Development and
Management Agreement dated October&nbsp;13, 2003, between the Tribe and the Manager, as amended.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Revised Agreement for Professional Services dated November&nbsp;22, 2006, between the Authority
and Cuningham Group Architecture, P.A.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Contract for Preconstruction and Construction Services dated May&nbsp;23, 2007, between the
Authority and Rudolph and Sletten, Inc.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Agreement for Engineering Services dated November&nbsp;1, 2006, between the Tribe and Mark Thomas
&#038; Company, Inc.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Master Construction Agreement dated April&nbsp;25, 2007, between the Tribe and C.C. Myers, Inc.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Escrow and Disbursement Agreement dated April&nbsp;24, 2007, among C.C. Myers, Inc., the
Authority, the California Department of Transportation, Wells Fargo Bank, National
Association, and the Collateral Agent.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Intercreditor and Subordination Agreement to be dated as of the date of the Indenture, among
the Trustee, the Collateral Agent, the Authority, the Manager and any lenders of Indebtedness
pursuant to the Indenture.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">9.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Lakes Dominion Account Agreement to be dated as of the date of the Indenture, among the
Manager, the Authority and the depository for the dominion account.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">10.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Security Agreement dated October&nbsp;13, 2003, between the Tribe and the Manager.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">11.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Security Agreement Acknowledgement to be dated as of the date of the Indenture, between the
Authority and the Manager.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">12.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Contract for Construction dated May&nbsp;23, 2007, between the Authority and Auburn Constructors,
Inc.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">13.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Amended Highway Development Encroachment Agreement dated July&nbsp;3, 2003, among the Tribe, the
United States, through the Bureau of Indian Affairs of the Department of the Interior and the
State of California, through the California Department of Transportation.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">III-1
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">14.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Memorandum of Understanding and Intergovernmental Agreement dated September&nbsp;28, 2006, between
the Tribe and El Dorado County.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">15.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Interim Promissory Note dated January&nbsp;23, 2007, executed by the Tribe in favor of the
Manager, as amended and in effect on the date of the Indenture.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">16.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Amended and Restated Land Acquisition Note dated January&nbsp;23, 2007, executed by the Tribe in
favor of the Manager, as amended.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">17.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Operating Note dated October&nbsp;13, 2003, executed by the Tribe in favor of the Manager, as in
effect on the date of the Indenture.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">18.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Assignment and Assumption Agreement dated April&nbsp;20, 2007, among the Tribe, the Authority and
the Manager.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">19.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Tribal Agreement dated April&nbsp;20, 2007, between the Tribe and the Manager.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">20.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Blocked Account Control Agreement to be dated as of the date of the Indenture, between the
Authority, the Collateral Agent and U.S. Bank, National Association.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">21.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Payment and Completion Guaranty dated May&nbsp;23, 2007, executed by Perini Corporation in favor
of the Authority.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">22.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Owner Representation Agreement dated May&nbsp;21, 2007, between the Authority and Cumming
Corporation.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">23.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Agreement for Engineering Services dated February&nbsp;1, 2007, between the Tribe and Applied
Engineering and Geology, Inc.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">24.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Agreement for Engineering Services dated November&nbsp;1, 2006, between the Tribe and HydroScience
Engineers, Inc.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">25.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Agreement for Engineering Services dated April&nbsp;12, 2007, between the Tribe and HydroScience
Engineers, Inc.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">26.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Agreement for Engineering Services dated May&nbsp;22, 2007, between the Tribe and HydroScience
Engineers, Inc.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">27.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Agreement for Engineering Services dated November&nbsp;1, 2006, between the Tribe and Gene E.
Thorne &#038; Associates, Inc.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">28.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Independent Construction Consultant&#146;s Engagement Letter dated June&nbsp;20, 2007, among Morgan
Stanley &#038; Co. Incorporated, the Trustee, the Disbursement Agent, the Authority and Rider Hunt
Levett &#038; Bailey LTD.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">29.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Proposal to Provide Materials Testing dated May&nbsp;29, 2007, between the Authority and
Consolidated Engineering Laboratories.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">III-2
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>EXHIBIT A</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>FORM OF OPINION OF FAEGRE &#038; BENSON LLP</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;The Tribe is a federally recognized Indian tribe organized and existing under its Articles
of Association defined in Exhibit&nbsp;D hereto.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;The Issuer validly exists as a wholly owned governmental authority of the Tribe under the
Authority Ordinance defined in Exhibit&nbsp;D hereto.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;The Issuer has duly taken all necessary action under the Authority Ordinance and other
Specified Tribal Laws to authorize the making and consummation of the offering of the Notes by the
Issuer and the execution, delivery and performance by the Issuer of the Transaction Documents to
which it is a party. For purposes hereof, the term &#147;<U>Specified Tribal Laws</U>&#148; means the
Articles of Association and any ordinances of the Tribe or resolutions of the Tribal Council
(defined below) or the Management Board (defined below) listed on Exhibit&nbsp;D hereto.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;The Tribe has duly taken all necessary action under its Articles of Association and other
Specified Tribal Laws to authorize the execution, delivery and performance by the Tribe of the
Transaction Documents to which it is a party.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;The Issuer is governed by its management board referred to in the Authority Ordinance (the
&#147;<U>Management Board</U>&#148;), and all members of the Management Board are validly serving. The
Management Board has the power to authorize officers of the Issuer to bind the Issuer and enter
into the Transaction Documents to which it is a party and are signed by the Chairman of the Tribe
referred to in the Articles of Association. The officer or officers of the Issuer who have
approved and executed the Transaction Documents to which the Issuer is a party possess authority to
execute the Transaction Documents to which the Issuer is a party on behalf of the Issuer and to
bind the Issuer thereto.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;The Tribal Council of the Tribe referred to in the Articles of Association (the &#147;<U>Tribal
Council</U>&#148;) is the governing body of the Tribe. The Tribal Council has the power to authorize
officers of the Tribe to bind the Tribe and enter into the Transaction Documents to which it is a
party and are signed by the Chairman of the Tribe referred to in the Articles of Association. The
officer or officers of the Tribe who have approved and executed the Transaction Documents to which
the Tribe is a party possess authority to execute the Transaction Documents to which the Tribe is a
party on behalf of the Tribe and to bind the Tribe thereto.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">A-1
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;Each of the Transaction Documents to which the Issuer is a party, except the Notes, has
been duly authorized, executed and delivered by the Issuer. Each Transaction Document (except the
Highway Escrow Agreement, which by its terms is governed by California law) to which the Issue is a
party constitutes a valid and binding agreement of, the Issuer, enforceable against the Issuer in
accordance with its terms.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;Each of the Lakes Documents has been duly authorized, executed and delivered by the Tribe
and the Issuer, as applicable. While the Lakes Documents are by their terms governed by the law of
a jurisdiction other than the State of New York or the State of Minnesota, and we therefore do not
opine that such documents are enforceable against the Tribe or the Issuer, we are of the opinion
that the Lakes Documents do not conflict in any material respect with applicable laws of the United
States or Specified Tribal Laws. No further consent, approval or authorization of the Lakes
Documents is required by the National Indian Gaming Commission, the Department of the Interior or
any other federal governmental or regulatory authority.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.&nbsp;Each of the Transaction Documents to which the Tribe is a party has been duly authorized,
executed and delivered by the Tribe. Each of the Transaction Documents (except the Highway Escrow
Agreement, which by its terms is governed by California law) to which the Tribe is a party
constitutes a valid and binding agreement of, the Tribe, enforceable against the Tribe in
accordance with its terms.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.&nbsp;The Compact between the Tribe and the State of California providing for the conduct of
class III gaming (as that term is defined in IGRA) by the Tribe made and entered into as of
September&nbsp;23, 1999 (the &#147;<U>Compact</U>&#148;) has been duly authorized, executed and delivered by the
Tribe. In compliance with the requirements of the Indian Gaming Regulatory Act of 1988, as amended
(&#147;<U>IGRA</U>&#148;), the Compact has been approved by the Secretary of the Interior of the United
States, and a notice of such approval has been published in the Federal Register, and assuming the
Compact has been validly authorized, executed and delivered under the laws of California, the
Compact is effective under IGRA.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.&nbsp;The Tribe&#146;s Shingle Springs Gaming Ordinance (the &#147;<U>Gaming Ordinance</U>&#148;) was validly
adopted by Resolution 96-4 of the Tribal Council, approved by the National Indian Gaming Commission
(the &#147;<U>NIGC</U>&#148;) in accordance with IGRA, and is in full force and effect as a law of the
Tribe, and permits class II gaming (as that term is defined in IGRA) and class III gaming to be
conducted by the Issuer and the Tribe.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.&nbsp;The site on which the casino portion of the Project is to be located constitutes &#147;Indian
lands&#148; situated on the Tribe&#146;s reservation within the meaning
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">A-2
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">of 25 U.S.C. &#167; 2703(4), and is eligible for the conduct of class II gaming and class III
gaming.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.&nbsp;There is no requirement under the Specified Tribal Laws or the Compact that any holder of
the Notes who is (a)&nbsp;a federally or state regulated bank, savings and loan, or other federally- or
state-regulated lending institution, (b)&nbsp;an agency of the federal, state or local government, (c)
an investor in the Notes who, alone or in conjunction with others, holds less than 10% of all other
outstanding indebtedness evidenced by the Notes or other debt securities of the Issuer, or (d)&nbsp;a
securities dealer acting in compliance with Section&nbsp;3(h)(ii) of the Financial Source Regulation
(defined below), solely in its capacity as a holder of Notes, apply for or receive any individual
license, any individual certificate, or any other individual authorization from any federal, state,
or tribal governmental authority, to acquire or retain the rights of a holder of Notes under the
Indenture. The Shingle Springs Tribal Gaming Commission (the &#147;<U>Tribal Gaming Commission</U>&#148;)
has validly adopted the &#147;Financial Source Licensing Regulation&#148; pursuant to Resolution GC 2007-1 of
the Tribal Gaming Commission on June&nbsp;11, 2007, providing for licensing procedures and exemptions
from licensing of certain qualified holders of the Notes, and the Tribal Gaming Commission has
taken all necessary actions to license Morgan Stanley &#038; Co. Incorporated and exempt from licensing
any holder of the Notes described in clauses (a), (b) (c), or (d)&nbsp;of the previous sentence.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.&nbsp;The Issuer has the requisite power and authority to own and operate the Business (as
defined in the Indenture), to conduct the Business as described in the Final Memorandum and to
enter into and perform its obligations under the Transaction Documents to which it is a party.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.&nbsp;The Security Agreement (as defined in Exhibit&nbsp;A) is effective to create a valid security
interest in the Issuer&#146;s right, title and interest in the Collateral (as defined in the Security
Agreement) in favor of the Collateral Agent.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.&nbsp;Upon the acceptance of the Uniform Commercial Code financing statements attached hereto as
Exhibit&nbsp;E by the Secretary of State of California and the Recorder of Deeds of the District of
Columbia, the security interest in favor of the Collateral Agent in the Collateral (as defined in
the Security Agreement) that consists of accounts (other than accounts described in Section
9-102(a)(6)(B) of the Uniform Commercial Code), general intangibles, goods, chattel paper,
negotiable documents, investment property and instruments will be perfected.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.&nbsp;The provisions of the Disbursement Agreement (as defined in Exhibit&nbsp;A) are effective to
perfect a security interest in the Issuer&#146;s rights in each of the Construction Disbursement
Account, the Interest Reserve Account and the Litigation Account (as defined in the Disbursement
Agreement) in favor of the Collateral Agent.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">A-3
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.&nbsp;The provisions of the Notes Dominion Account Agreement (as defined in Exhibit&nbsp;A) are
effective to perfect a security interest in the Issuer&#146;s rights in the Dominion Account (as defined
in the Notes Dominion Account Agreement) in favor of the Collateral Agent. The provisions of the
Control Agreement (as defined in Exhibit&nbsp;A) are effective to perfect a security interest in the
Issuer&#146;s rights in the Deposit Account (as defined in the Control Agreement) in favor of the
Collateral Agent.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.&nbsp;The Notes are in the form contemplated by the Indenture. The Notes have been duly
authorized by the Issuer for issuance and sale pursuant to the Purchase Agreement and the Indenture
and, when executed by the Issuer and authenticated by the Trustee in the manner provided in the
Indenture and delivered against payment of the purchase price therefor, will constitute valid and
binding obligations of the Issuer, enforceable against the Issuer in accordance with their terms.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.&nbsp;The Transaction Documents conform in all material respects to the descriptions thereof
contained in the Final Memorandum.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.&nbsp;The waivers by each of the Issuer and the Tribe of sovereign immunity from unconsented
suit, arbitration or other legal proceedings contained in any of the Transaction Documents to which
it is a party are in compliance in all material respects with applicable laws of the United States
and Specified Tribal Laws, are irrevocable and constitute valid, binding and enforceable
obligations of the Issuer or the Tribe, as applicable. The consents of each of the Issuer and the
Tribe to personal jurisdiction of the courts and arbitration forums contained in any of the
Transaction Documents to which it is a party are in compliance in all material respects with
applicable laws of the United States and Specified Tribal Laws and constitute valid, binding and
enforceable obligations of the Issuer or the Tribe, as applicable; provided that we express no
opinion as to whether a case would proceed in such courts or forums or would be required to proceed
in the Tribal Courts of the Tribe as described in the Final Memorandum under the heading &#147;Disputes
relating to the notes may be required to be heard in our Tribal court system&#148;. The Courts of the
State of New York would have personal and subject matter jurisdiction over any action against
either the Issuer or the Tribe to enforce the Transaction Documents to which it is a party.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.&nbsp;Based on Section&nbsp;5-1401 of the General Obligations Law of the State of New York
(&#147;<U>&#167;5-1401</U>&#148;), a New York Court or a federal court sitting in New York as the forum state and
applying New York conflict of law rules should give effect to the designation by the parties of the
laws of the State of New York as the governing law with respect to each of the Transaction
Documents (except the Notes Dominion Account Agreement, which by its terms is governed by
California law), except (i)&nbsp;as otherwise provided in Section&nbsp;1-105 (2)&nbsp;of the Uniform Commercial
Code as in effect in the State of New York, (ii)&nbsp;that no
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">A-4
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">opinion is rendered as to whether any such court would give effect to such designation if it
were to determine that the result obtained from applying the laws of the State of New York would be
contrary to a fundamental policy of a more interested jurisdiction and (iii)&nbsp;that the ability of
any such court to give effect to such designation as required by &#167;5-1401 may be limited by the full
faith and credit clause and the due process clause of the United States Constitution and the
doctrine of comity.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.&nbsp;The Tribe and the Issuer are hereinafter referred to collectively as the &#147;<U>Shingle
Springs Parties</U>,&#148; and individually as a &#147;<U>Shingle Springs Party</U>.&#148; No consent, approval,
authorization or other order of, or registration or filing with, any court or other governmental or
regulatory authority or agency of the United States or the Tribe, including the Secretary of the
Interior or the Chairman of the NIGC, or pursuant to the Compact is required for any Shingle
Springs Party&#146;s execution, delivery and performance of the Transaction Documents to which it is a
party, or the issuance and delivery of the Notes by the Issuer, or the enforceability of any of the
foregoing, except (i)&nbsp;such as have been obtained or made by the applicable Shingle Springs Party
and are in full force and effect, (ii)&nbsp;required filings of UCC financing statements in the offices
described in paragraph 16, and (iii)&nbsp;those consents, approvals, authorizations and orders of a type
customarily obtained subsequent to the commencement of construction, and except for state
securities or blue sky laws, and except that court filings and orders may be required in order to
enforce any of the Transaction Documents.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.&nbsp;The execution and delivery by each of the Shingle Springs Parties of the Transaction
Documents to which it is a party and the performance of its obligations thereunder will not result
in any violation of the provisions of the Articles of Association. The execution and delivery by
each of the Shingle Springs Parties of the Transaction Documents to which it is a party and the
performance of its obligations thereunder (i)&nbsp;will not result in any violation of the provisions
any Specified Tribal Laws (other than the Articles of Association); (ii)&nbsp;will not constitute a
breach of, or default under, or result in the creation or imposition of any lien, charge or
encumbrance upon any property or assets of the Issuer under, any Applicable Contract; (iii)&nbsp;will
not result in any violation of any Applicable Order that names either of the Shingle Springs
Parties and is specifically directed to either Shingle Springs Party or its property and (iv)&nbsp;will
not result in any violation of any law of the United States. We do not express any opinion,
however, as to whether the execution and delivery by each of the Shingle Springs Parties of the
Transaction Documents to which it is a party and the performance of its obligations thereunder will
constitute a breach of, or default under, or result in the creation or imposition of any lien,
charge or encumbrance upon any property or assets of the Issuer under, any Applicable Contract with
respect to any accounting or financial ratios, tests or terms or any aspect of the financial
condition or results of operations of the Shingle Springs Parties. For
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">A-5
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">purposes hereof, the term &#147;<U>Applicable Contracts</U>&#148; means those agreements or instruments
identified on Exhibit&nbsp;F hereto and the term &#147;<U>Applicable Orders</U>&#148; means those judgments,
orders or decrees identified on Annex A to each of the Issuer&#146;s Certificate and the Tribe&#146;s
Certificate.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25.&nbsp;The Issuer is not, and immediately after receipt of payment for the Notes and application
of the proceeds thereof as described in the Final Memorandum under the caption &#147;Use of Proceeds&#148;
will not be, required to register as an investment company under the Investment Company Act of
1940.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26.&nbsp;Assuming the accuracy of the representations, warranties and covenants of the Shingle
Springs Parties, the Manager and the Initial Purchasers contained in the Purchase Agreement, no
registration of the Notes under the Securities Act, and no qualification of an indenture under the
Trust Indenture Act with respect thereto, is required in connection with the purchase of the Notes
by the Initial Purchasers or the initial resale of the Notes by the Initial Purchasers in the
manner contemplated by the Purchase Agreement and the Final Memorandum; provided that no opinion is
expressed as to when or under what circumstances any Notes initially sold by the Initial Purchaser
may be reoffered or resold.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27.&nbsp;Pursuant to authority provided in the Articles of Association the Tribal Council has
enacted the Shingle Springs Tribal Court Ordinance establishing a Tribal Court and a three-judge
appellate panel (together, the &#147;Tribal Courts&#148;), which constitute the judicial branch of the Tribe.
The Tribal Courts have not adopted rules of civil or appellate procedure nor rules of judicial
conduct applicable to proceedings before the Tribal Courts.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.&nbsp;None of the Transaction Documents, taken individually or collectively, constitutes a
&#147;management contract&#148; requiring approval within the meaning of 25 U.S.C. &#167; 2711, as defined in 25
C.F.R. &#167; 502.15 or deprives the Tribe of the &#147;sole proprietary interest and responsibility&#148; for the
conduct of the gaming activity of the Gaming Business within the meaning of IGRA.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29.&nbsp;Pursuant to New York General Obligations Law Section&nbsp;5-501-6.b., no law regulating the
maximum rate of interest which may be charged, taken or received, including Section&nbsp;190.40 and
Section&nbsp;190.42 of the New York Penal Law, shall apply to any loan or forbearance in the amount of
two million five hundred thousand dollars or more.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.&nbsp;We have reviewed the statements in the Final Memorandum under the captions &#147;Certain
Relationships and Related Transactions,&#148; &#147;Description of Material Agreements,&#148; &#147;Descriptions of
Other Indebtedness,&#148; &#147;Description of the Notes,&#148; &#147;Government Regulation,&#148; and &#147;Certain United
States Federal Income and Estate Tax Considerations.&#148; Insofar as such statements relate to matters
of
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">A-6
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">law or purport to be summaries of legal matters, legal proceedings or certain provisions of
agreements, such statements fairly present and summarize, in all material respects, the matters
referred to therein.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have participated in conferences with officers and other representatives of the Tribal
Parties and the Manager, representatives of the independent public or certified public accountants
for the Tribal Parties and the Manager and with representatives of the Initial Purchaser at which
the contents of the Time of Sale Memorandum and the Final Memorandum and related matters were
discussed and, although in this letter we are not passing upon and do not assume any responsibility
for the accuracy, completeness or fairness of the statements contained in the Time of Sale
Memorandum or the Final Memorandum, on the basis of the foregoing, nothing has come to our
attention which would lead us to believe that the Time of Sale Memorandum, as of the time the
Purchase Agreement was executed, or that the Final Memorandum, as of its date or at the date
hereof, contained or contains an untrue statement of a material fact or omits to state a material
fact necessary in order to make the statements therein, in the light of the circumstances under
which they were made, not misleading (it being understood that we express no belief as to the
financial statements or other financial or accounting information included in the Time of Sale
Memorandum or the Final Memorandum or any amendments or supplements thereto).
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">A-7
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>EXHIBIT B</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>FORM OF OPINION OF KARSHMER &#038; ASSOCIATES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;Each of the California Law Transaction Documents to which the Tribe or the Issuer is a
party (i)&nbsp;has been duly authorized, executed and delivered by such party, (ii)&nbsp;does not conflict
with any law or administrative regulation of the State of California, and (iii)&nbsp;is the valid and
legally binding obligation of each such party, enforceable against such party in accordance with
its respective terms.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;Each of the California Law Material Agreements to which the Tribe or the Issuer is a party
(i)&nbsp;has been duly authorized, executed and delivered by such party, (ii)&nbsp;does not conflict with any
law or administrative regulation of the State of California, and (iii)&nbsp;is the valid and legally
binding obligation of such party, enforceable against such party in accordance with its respective
terms.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;To the extent governed by the California UCC, if applicable, the provisions of the Security
Agreement of even date herewith securing the Securities (the Security Agreement) are effective to
create a valid security interest in the Authoritys rights to the Collateral (as defined in the
Security Agreement) in favor of the Collateral Agent (as defined in the Security Agreement), for
the benefit of the Initial Purchasers and the Subsequent Purchasers, to secure the Secured
Obligations (as defined in the Security Agreement).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;The California financing statements are in proper form for filing with the California
Secretary of State.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;Under the California UCC, if applicable, the security interest of the Collateral Agent (as
defined in the Security Agreement) in all Collateral (as defined in the Security Agreement) as to
which a security interest may be perfected by filing a financing statement will be perfected upon
the later of the attachment of the security interest or the filing of a financing statement in the
office of the California Secretary of State, as the case may be.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">B-1
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>EXHIBIT C</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>FORM OF OPINION OF GRAY, PLANT, MOOTY, MOOTY &#038; BENNETT</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;The Manager is a limited liability company duly formed, validly existing, and in good
standing under the laws of the State of Delaware.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;The Manager has all requisite limited liability company power to own, lease and operate its
properties and to conduct its business as described in the Time of Sale Memorandum and the Final
Memorandum, to execute and deliver the Manager Transaction Documents, and to consummate the
transactions contemplated by the Manager Transaction Documents.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;The Manager has taken all necessary limited liability company action to authorize the
execution, delivery, and performance by the Manager of the Manager Transaction Documents and Lakes
Documents, and each of the Manager Transaction Documents and Lakes Documents has been duly
authorized, executed and delivered by the Manager.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;Each Manager Transaction Document constitutes the legal, valid, binding, and enforceable
obligation of the Manager.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;No authorization or approval or other action by, and no notice or filing with, any
governmental authority or other regulatory body is required in connection with the due execution,
delivery and performance by the Manager of the Manager Transaction Documents.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;The execution and delivery of the Manager Transaction Documents do not, and the performance
by the Manager of its obligations thereunder will not, (a)&nbsp;contravene the Manager Governing
Documents, (b)&nbsp;constitute a breach of, or default under, any applicable Manager Material Agreement
or result in the creation or imposition of any lien, charge or encumbrance upon any property or
assets of the Manager, or (c)&nbsp;result in any violation of any applicable state or federal law or
regulation applicable to the Manager.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, attorneys with this firm have participated in conferences with officers and other
representatives of the Tribal Parties and the Manager, representatives of McGladrey &#038; Pullen LLP,
the independent public or certified public accountants for the Authority, and with representatives
of the Initial Purchasers at which the contents of the Time of Sale Memorandum and the Final
Memorandum and other related matters were discussed. Although we are not
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">C-1
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">passing upon and have not independently checked or verified the accuracy, completeness or
fairness of the statements contained in the Time of Sale Memorandum or the Final Memorandum, we
advise you that the attorneys with this firm that participated in such conferences have no reason
to believe that anything that they have reviewed in the Time of Sale Memorandum, as of the date of
the Purchase Agreement or as of the date hereof, and the Final Memorandum, as of its date or as of
the date hereof (except as to the financial statements, including the notes thereto and related
schedules and other financial information and data included therein or omitted therefrom as to
which we are not called upon to and do not express any opinion), contained an untrue statement of a
material fact or omitted to state a material fact required to be stated therein or necessary to
make the statements therein, in the light of the circumstances under which they were made, not
misleading.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">C-2
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>EXHIBIT D</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>FORM OF OPINION OF HAMILTON QUIGLEY &#038; TWAIT, PLC</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;The statements in the Final Memorandum under the captions &#147;Risk Factors &#150; Risks
related to the Indian Gaming Industry,&#148; &#147;Description of Other Indebtedness,&#148; &#147;Certain Relationships
and Related Transactions&#148; and &#147;Description of Material Agreements,&#148; insofar as such statements
constitute summaries of documents, have been reviewed by us as special counsel with respect to
Indian/gaming laws and regulations and fairly present and summarize, in all material respects, the
matters referred to therein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;No authorization or approval or other action by, and no notice or filing with, any
governmental authority or other regulatory body is required with respect to Indian/gaming laws and
regulations in connection with the due execution, delivery and performance by the Manager of the
Manager Transaction Documents.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;The execution and delivery of the Manager Transaction Documents do not, and the
performance by the Manager of its obligations thereunder will not, (a)&nbsp;constitute a breach of, or
default under, any applicable Material Manager Agreements or result in the creation or imposition
of any lien, charge or encumbrance upon any property or assets of the Manager, or (b)&nbsp;result in any
violation of any Indian/gaming laws and regulations applicable to the Manager.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;The Development and Management Agreement, as amended, listed on <U>Schedule&nbsp;I</U>
constitutes a valid and binding agreement of the Manager, enforceable in accordance with its terms.
With respect to this opinion, we note that a management contract for tribal gaming, such as the
Development and Management Agreement, must be approved by the Chairman of the NIGC to be valid, and
that the Development and Management Agreement has been so approved; however, under published
regulations of the NIGC if the Chairman of the NIGC learns of any action or condition that violates
the standards contained in certain of the NIGC&#146;s regulations, the Chairman may require
modifications of, or may void, a management contract previously approved by the Chairman, after
providing the parties an opportunity for a hearing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;Appropriate federal, state and tribal regulatory agencies have determined that the Manager
is suitable under applicable federal and tribal law, including IGRA, the Compact and the Gaming
Ordinance, to have a financial interest in, or have management responsibility for, the Development
and Management Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, attorneys with this firm have participated in conferences with officers and other
representatives of the Tribal Parties and the Manager, representatives of McGladrey &#038; Pullen LLP,
the independent public or certified public accountants for the Authority, and with representatives
of the Initial
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">D-1
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Purchasers at which the contents of the Time of Sale Memorandum and the Final Memorandum and other
related matters were discussed. Although we are not passing upon and have not independently
checked or verified the accuracy, completeness or fairness of the statements contained in the Time
of Sale Memorandum or the Final Memorandum (other than as specified above), we advise you that the
attorneys with this firm that participated in such conferences have no reason to believe that
anything that they have reviewed in the Time of Sale Memorandum, as of the date of the Purchase
Agreement or as of the date hereof, and the Final Memorandum as of its date or as of the date
hereof (except as to the financial statements, including the notes thereto and related schedules
and other financial information and data included therein or omitted therefrom as to which we are
not called upon to and do not express any opinion), contained an untrue statement of a material
fact or omitted to state a material fact required to be stated therein or necessary to make the
statements therein, in the light of the circumstances under which they were made, not misleading.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">D-2
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>c16485exv10w2.htm
<DESCRIPTION>NOTES DOMINION ACCOUNT AGREEMENT
<TEXT>
<HTML>
<HEAD>
<TITLE>exv10w2</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;10.2</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>NOTES DOMINION ACCOUNT AGREEMENT</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS DOMINION ACCOUNT AGREEMENT (the &#147;<U>Agreement</U>&#148;), dated as of June&nbsp;28, 2007 (the
&#147;<U>Effective Date</U>&#148;), among the SHINGLE SPRINGS TRIBAL GAMING AUTHORITY (the
&#147;<U>Authority</U>&#148;), LAKES KAR-SHINGLE SPRINGS, LLC, a Delaware limited liability company
(&#147;<U>Manager</U>&#148;), THE BANK OF NEW YORK TRUST COMPANY, N.A., as collateral agent (in such
capacity, the &#147;<U>Collateral Agent</U>&#148;) for the First Lien Secured Parties (defined below) and
trustee for the Senior Notes (defined below) under the Indenture (defined below), and <U>
</U>WELLS FARGO BANK, N.A. (the &#147;<U>Bank</U>&#148;).
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B><I>W I T N E S S E T H:</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Authority is a wholly-owned unincorporated instrumentality of the Shingle Springs
Band of Miwok Indians (&#147;<U>Tribe</U>&#148;), a federally recognized Indian tribe;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Tribe has the inherent power to conduct and regulate gaming on its lands, subject
only to the restrictions imposed by the Indian Gaming Regulatory Act of 1988, Public Law 100-497,
25 U.S.C. &#167; 2701 <I>et</I>. <I>seq</I>. (as such may from time to time be amended, &#147;<U>IGRA</U>&#148;);
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, in accordance with IGRA, the Tribe has entered into the Tribal-State Compact for the
conduct of Class&nbsp;III Gaming within the State of California;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Tribe, acting through the Authority, proposes to develop, construct and operate,
a full service gaming and entertainment facility to be commonly known as the Foothill Oaks Casino
and certain related amenities located in El Dorado County, California;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Tribe and Manager entered into a First Amended and Restated Memorandum of
Agreement Regarding Gaming Development and Management Agreement dated as of October&nbsp;13, 2003 (as
amended by an Amendment dated June&nbsp;16, 2004, a Second Amendment dated January&nbsp;23, 2007, and a Third
Amendment dated as of May&nbsp;17, 2007, and as further amended from time to time, and as subject to the
Assignment and Assumption Agreement referred to below, the <B>&#147;</B><U>Development and Management
Agreement</U>&#148;);
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, pursuant to the Development and Management Agreement, (a)&nbsp;the Manager has made and
agreed to make certain loans in connection with the development, construction and equipping of the
Facility (defined below) and certain related amenities, and (b)&nbsp;the Manager has agreed to manage
the Facility and certain related amenities as more specifically set forth therein;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, pursuant to an Assignment and Assumption Agreement dated as of April&nbsp;20, 2007 (the
&#147;<U>Assignment and Assumption Agreement</U>&#148;), the Tribe assigned, and the Authority assumed, the
rights and obligations of the Tribe under the Development and Management Agreement, the Interim
Promissory Note, the Operating Note and other Transaction Documents (each as defined in the
Development and Management Agreement);
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->1<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, concurrently herewith, the Authority is issuing $450,000,000 aggregate principal
amount of its 9 3/8% Senior Notes due 2015 (together with all other notes issued under the
Indenture, and including all notes issued in exchange or replacement thereof, the &#147;<U>Senior
Notes</U>&#148;), pursuant to that certain Indenture dated as of June&nbsp;28, 2007 (as in effect on the date
hereof, the &#147;<U>Indenture</U>&#148;) between the Authority and the Trustee (defined below), to finance
costs to be incurred in connection with the acquisition, financing, design, development,
construction, equipping and opening of the Facility;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, concurrently herewith, the trustee under the Indenture (the &#147;<U>Trustee</U>&#148;), the
Collateral Agent and the Manager have entered into the Intercreditor and Subordination Agreement
(defined below) to (a)&nbsp;appoint the Collateral Agent as the agent for the Trustee for purposes of
entering into the security documents and to receive, maintain, administer, enforce and distribute
certain collateral shared by the Trustee and the Manager as provided in the Intercreditor and
Subordination Agreement, (b)&nbsp;set forth certain provisions relating to the respective rights in such
collateral, the exercise of remedies upon the occurrence of an event of default, the application of
proceeds of enforcement and certain other matters and (c)&nbsp;set forth certain provisions relating to
the subordination of the Manager Obligations (defined below) to the First Lien Secured Obligations
(defined below), and certain other matters with respect thereto; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Authority, the Manager and the Collateral Agent desire to enter into this
Agreement in order to (a)&nbsp;provide for the receipt, deposit and disbursement of Gross Revenues
(defined below), (b)&nbsp;grant the Collateral Agent, for the benefit of the First Lien Secured Parties,
a first priority security interest in such Gross Revenues and certain related collateral and
proceeds thereof, (c)&nbsp;grant the Manager a second priority security interest in such Gross Revenues
that constitute Enterprise Revenues (defined below) and certain related collateral and proceeds
thereof (subject to subordination as provided herein and subordination of the Manager Obligations
to the First Lien Secured Obligations pursuant to the Intercreditor and Subordination Agreement),
and (d)&nbsp;implement the terms of the Intercreditor and Subordination Agreement, each for the purposes
and in accordance with the terms set forth herein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW, THEREFORE, in consideration of the mutual agreements herein contained and other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
hereto do hereby agree as follows:
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ARTICLE 1<BR>
DEFINITIONS
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1.1 Unless the context otherwise requires, capitalized terms which are not defined
herein shall have the meaning ascribed to them in the Development and Management Agreement as in
effect on the date hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1.2 <U>Defined Terms</U>. The following terms when used herein shall have the
following meanings:
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Agreement</U>&#148; shall have the meaning set forth in the preamble.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Assignment and Assumption Agreement</U>&#148; shall have the meaning set forth in the
recitals.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Authority</U>&#148; shall have the meaning set forth in the preamble.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Bank</U>&#148; shall have the meaning set forth in the preamble.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Bank Fees</U>&#148; shall mean the Bank&#146;s customary fees and charges for the maintenance and
administration of the Dominion Account and for treasury management and other account services
provided with respect to the Dominion Account.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Business Day</U>&#148; shall mean a day other than (i)&nbsp;a Saturday or Sunday and (ii)&nbsp;any day
on which banks located in the State of California are required or authorized by law to remain
closed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Cash Collateral and Disbursement Agreement</U>&#148; shall mean the Cash Collateral and
Disbursement Agreement, dated as of June&nbsp;28, 2007, among the Authority, the Manager, the Trustee,
the Collateral Agent, The Bank of New York Trust Company, N.A., as disbursement agent, Rider Levett
Bucknall Ltd., and the other parties thereto.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Cash Equivalents</U>&#148; shall have the meaning assigned to such term in the Indenture.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Class&nbsp;II Gaming</U>&#148; shall mean Class&nbsp;II Gaming as defined in IGRA.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Class&nbsp;III Gaming</U>&#148; shall mean Class&nbsp;III Gaming as defined in IGRA.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Collateral</U>&#148; shall mean the Gross Revenues, the Dominion Account and the cash and/or
cash equivalents and other investment property deposited or credited thereto from time to time and
sweep investments from time to time made with funds on deposit therein, each whether now or
hereafter owned, existing, arising or acquired, including but not limited to the Enterprise
Collateral, and including any proceeds of the foregoing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Collateral Agent</U>&#148; shall have the meaning set forth in the preamble.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Collateral Agent Deposit Account</U>&#148; shall have the meaning set forth in <U>Section
3.4(a)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Collateral Agent Notice of Exclusive Control</U>&#148; shall have the meaning set forth in
<U>Section&nbsp;2.1(a)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Costs of Gaming Operations</U>&#148; shall mean all expenses for the operation of Class&nbsp;II
Gaming and Class&nbsp;III Gaming activities pursuant to Generally Accepted Accounting Principles.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Costs of Incidental Operations</U>&#148; shall mean all expenses pursuant to Generally
Accepted Accounting Principles incurred in operating the hotel, restaurants, food and beverage
service, office space, swimming pool, fitness center, childcare, kids arcade, golf course and other
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">commercial business areas comprising the Facility in which neither Class&nbsp;II Gaming nor Class&nbsp;III
Gaming is conducted.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Deposit Account Orders</U>&#148; shall mean with respect to the Dominion Account, any
instruction directing the disposition of any funds in the Dominion Account.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Development and Management Agreement</U>&#148; shall have the meaning set forth in the
recitals.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Discharge</U>&#148; shall have the meaning assigned to such term in the Intercreditor and
Subordination Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Dominion Account</U>&#148; shall mean, collectively, that certain Account No.&nbsp;4121561039 owned
and maintained by the Authority with the Bank formed by and subject to the terms of this Agreement
(including without limitation any sub-accounts within such account), together with any replacement
accounts with the Bank related to such account.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Effective Date</U>&#148; shall have the meaning set forth in the preamble.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Enterprise</U>&#148; shall mean the business of the Authority to be commonly known as the
Foothill Oaks Casino which will conduct Class&nbsp;II Gaming and Class&nbsp;III Gaming at the Facility, and
which shall include any other lawful commercial activity allowed in or near the Facility including,
but not limited to, operating and managing office space, kids arcade, child care facility, hotel
with swimming pool and golf course, restaurant, RV park, retail stores, entertainment facilities,
or the sale of fuel, food, beverages, alcohol, tobacco, gifts, and souvenirs. &#147;Enterprise&#148; shall
include, without limitation, the Facility.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Enterprise Collateral</U>&#148; shall mean the Enterprise Revenues, the Dominion Account and
the cash and/or cash equivalents and other investment property deposited or credited thereto with
respect to the Enterprise Revenues from time to time and sweep investments from time to time made
with funds on deposit therein with respect to the Enterprise Revenues, each whether now or
hereafter owned, existing, arising or acquired, and including any proceeds of the foregoing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Enterprise Revenues</U>&#148; shall mean the Gross Revenues of the Enterprise, including
without limitation credit card receivables and other accounts related to the Enterprise.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Facility</U>&#148; shall mean the permanent buildings, structures and improvements used by the
Enterprise for its gaming and incidental operations located on the Gaming Site.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Financing Statements</U>&#148; shall have the meaning set forth in <U>Section&nbsp;2.1(c)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>First Lien Secured Obligations</U>&#148; shall have the meaning assigned to such term in the
Intercreditor and Subordination Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>First Lien Secured Obligations Event of Default</U>&#148; shall have the meaning set forth in
<U>Section&nbsp;5.1(b)</U>.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>First Lien Secured Obligations Event of Default Period</U>&#148; shall mean the period
commencing as soon as practicable upon physical receipt by the Bank of a Collateral Agent Notice of
Exclusive Control, but in no event later than the second (2<SUP style="font-size: 85%; vertical-align: text-top">nd</SUP>) Business Day following
such receipt, and ending on the date that the Bank receives written instruction from the
Collateral Agent that the First Lien Secured Obligations Event of Default set forth in such the
Collateral Agent Notice of Exclusive Control has been cured or otherwise waived. The Collateral
Agent may only give a Collateral Agent Notice of Exclusive Control following the occurrence and
during the continuance of such a First Lien Secured Obligations Event of Default, and the
Collateral Agent will give the Bank such a written instruction of cure or waiver promptly following
any such cure or waiver unless (a)&nbsp;any First Lien Secured Obligation has been accelerated and (b)
such cure or waiver does not reinstate such First Lien Secured Obligations so that they are no
longer accelerated.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>First Lien Secured Parties</U>&#148; shall have the meaning assigned to such term in the
Intercreditor and Subordination Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Gaming Site</U>&#148; shall mean the Tribal Lands located in El Dorado County, California,
used as the site for operating and constructing the Facility and the Enterprise.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Gross Gaming Revenues</U>&#148; shall mean the Authority&#146;s total revenue from gaming
operations (excluding any insurance proceeds received other than business interruption insurance
proceeds and insurance proceeds received to reimburse the Authority for any claims included, or to
be included, as Costs of Gaming Operations).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Gross Incidental Revenues</U>&#148; shall mean the Authority&#146;s total receipts from operating
the hotel, restaurants, food and beverage service, office space, swimming pool, fitness center,
childcare, kids arcade, golf course and other commercial business areas comprising the Facility in
which the Authority conducts neither Class&nbsp;II Gaming nor Class&nbsp;III Gaming, including without
limitation any sales, hotel, use or other pass-through taxes collected on patrons which are to be
consistent with those collected from patrons of other similar businesses in El Dorado County (but
excluding any insurance proceeds received other than business interruption insurance proceeds and
insurance proceeds received to reimburse the Authority for any claims included, or to be included,
as Costs of Incidental Operations) .
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Gross Revenues</U>&#148; shall mean the total of Gross Gaming Revenues and Gross
Incidental Revenues of the Authority (including, without limitation, the Enterprise Revenues). It
is understood and agreed that all net proceeds of asset sales and insurance and condemnation events
(comprising Net Proceeds and Net Loss Proceeds, each as defined in the Indenture) shall be
deposited into an account pledged to the Collateral Agent for the benefit of the First Lien Secured
Parties.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>IGRA</U>&#148; shall have the meaning set forth in the recitals.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Indenture</U>&#148; shall have the meaning set forth in the recitals.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->5<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Intercreditor and Subordination Agreement</U>&#148; shall mean the Intercreditor and
Subordination Agreement among the Collateral Agent, the Trustee and the Manager dated as of June
28, 2007.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Linked Account</U>&#148; shall mean any controlled disbursement account or other deposit
account at any time linked to the Dominion Account by a zero balance account connection.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Manager</U>&#148; shall have the meaning set forth in the preamble.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Manager Event of Default</U>&#148; shall have the meaning set forth in <U>Section&nbsp;5.1(a)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Manager Notice of Exclusive Control</U>&#148; shall have the meaning set forth in <U>Section
3.3(a)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Manager Obligations</U>&#148; shall mean all loans, compensation, fees, expenses and other
amounts owing by the Authority or the Tribe to the Manager under or with respect to the Development
and Management Agreement or the Interim Promissory Note, the Operating Note or any other
Transaction Document or the Transition Loan (as each of such terms are defined in the Development
and Management Agreement), including without limitation the Manager&#146;s compensation pursuant to the
Development and Management Agreement, together with any other Lakes Secured Obligations (as defined
in the Intercreditor and Subordination Agreement) and any costs, expenses or other amounts
hereafter owing by the Tribe or the Authority to the Bank or the Manager pursuant to the terms of
this Agreement, each of the foregoing, whether now existing or hereafter incurred or arising.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Monthly Distribution Payment</U>&#148; shall mean the amount disbursable to the Authority on a
monthly basis from Net Total Revenues (as defined in the Development and Management Agreement)
pursuant to <U>Section&nbsp;6.5</U> of the Development and Management Agreement, excluding any payment
required to be made under Section&nbsp;6.5(a)(i) thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Operating Expenses</U>&#148; shall have the meaning assigned to such term in the Indenture.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Permitted Accounts</U>&#148; shall mean those security and deposit accounts of the Authority
permitted by the terms of the Indenture and the Cash Collateral and Disbursement Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Person</U>&#148; shall mean any individual, corporation, partnership, joint venture,
association, joint-stock company, trust, unincorporated organization, limited liability company,
tribe or government (including any agency, component or political subdivision thereof) or other
entity.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Returned Item&nbsp;Amounts</U>&#148; shall mean (i)&nbsp;any item deposited to the Dominion Account and
returned unpaid, whether for insufficient funds or any other reason, and without regard to the
timeliness of such return or the occurrence or timeliness of any drawee&#146;s notice of non-payment,
(ii)&nbsp;any item subject to a claim against the Bank for breach of transfer or presentment warranty
under the Uniform Commercial Code, (iii)&nbsp;any automated clearing house (&#147;ACH&#148;) entry credited to the
Dominion Account and returned unpaid or subject to an adjustment entry under applicable clearing
house rules, whether for insufficient funds or for any other reason, and without regard to
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->6<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">the
timeliness of such return or adjustment, (iv)&nbsp;any credit to the Dominion Account from a merchant
card transaction, against which a contractual demand for chargeback has been made, and (v)&nbsp;any
credit to the Dominion Account made in error.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Senior Notes</U>&#148; shall have the meaning set forth in the recitals.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Senior Security Agreement</U>&#148; shall mean the Security Agreement dated as of June&nbsp;28,
2007 between the Authority and the Collateral Agent.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Settlement Item&nbsp;Amounts</U>&#148; shall mean, in each case following the Bank&#146;s receipt of a
Collateral Agent Notice of Exclusive Control, (i)&nbsp;each check or other payment order drawn or
payable against any Linked Account, which the Bank cashes or exchanges for a cashier&#146;s check or
official check over its counters in the ordinary course of business before the Bank has had a
reasonable opportunity to act on such Collateral Agent Notice of Exclusive Control, and which is
thereafter presented for settlement against the Dominion Account (after having been presented
against the Linked Account), (ii)&nbsp;each check or other payment order drawn on or payable against the
Dominion Account that the Bank cashes or exchanges for a cashier&#146;s check or official check over its
counters in the ordinary course of business on the Business Day on which it received such
Collateral Agent Notice of Exclusive Control but after the Bank&#146;s cutoff time for posting on such
Business Day, (iii)&nbsp;each ACH credit entry by the Bank, as the originating depository financial
institution on behalf of the Authority as the originator, which is initiated in the ordinary course
of business before the Bank has had a reasonable opportunity to act on such Collateral Agent Notice
of Exclusive Control, and which is thereafter settled, and (iv)&nbsp;any other payment order drawn on or
payable against the Dominion Account, which the Bank pays or funds before the Bank has had a
reasonable opportunity to act on such Collateral Agent Notice of Exclusive Control and which is
first presented for settlement after the Bank has transferred funds from the Dominion Account to
the Collateral Agent.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Transaction Document Event of Default</U>&#148; shall mean any of (i)&nbsp;the insufficiency of any
distribution under <U>Section&nbsp;6.5</U> of the Development and Management Agreement to fund or any
other default in the payment of or other failure to pay (A)&nbsp;the Manager&#146;s compensation pursuant to
the Development and Management Agreement, (B)&nbsp;obligations payable under the Interim Promissory Note
or the Operating Note, or (C)&nbsp;any other Manager Obligation payable in accordance with the
provisions of the Transaction Document governing the same, in each case subject to any applicable
grace or cure period, (ii)&nbsp;any other default or Event of Default under or as defined in Development
and Management Agreement or the Interim Promissory Note, the Operating Note or any other
Transaction Document shall occur and continue beyond any applicable grace or cure period, (iii)&nbsp;any
Material Breach (as defined in the Development and Management Agreement) by the Authority or the
Tribe shall occur and continue for thirty (30)&nbsp;calendar days after written notice thereof has been
sent to the Authority by the Manager, or (iv)&nbsp;without limiting the generality of the foregoing
clause (iii), default by the Tribe under or any other material failure by the Tribe to perform in
accordance with the Tribal Agreement shall occur and continue beyond any applicable grace or cure
period.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->7<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Tribal Agreement</U>&#148; shall mean the Tribal Agreement dated as of April&nbsp;20, 2007, between
the Tribe and the Manager, as the same may from time to time be amended.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Tribal Lands</U>&#148; shall mean all lands presently and in the future held in trust by the
United States for the Tribe and all lands within the confines of the Shingle Springs Reservation
and such lands as may be hereafter added thereto.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Tribal UCC Code</U>&#148; shall mean the Tribe&#146;s Secured Transaction Ordinance.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Tribal-State Compact</U>&#148; shall have the meaning assigned to such term in the Development
and Management Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Tribe</U>&#148; shall have the meaning set forth in the recitals.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Trustee</U>&#148; shall have the meaning set forth in the recitals.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Uniform Commercial Code</U>&#148; shall mean the Uniform Commercial Code as enacted in the
State of New York, as the same may be amended from time to time.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ARTICLE 2<BR>
GENERAL COVENANTS
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2.1 <U>Creation of Dominion Account; Control; Perfection</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;<U>Establishment of Account</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;There is hereby created with the Bank the Dominion Account, which shall be in the name of
the Authority and subject to the terms and conditions of this Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;The Bank shall deposit into the Dominion Account, as received, each and every amount and
item delivered to the Bank for deposit into the Dominion Account by or on behalf of the Authority.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;Subject to the following clause (iv)&nbsp;regarding a Collateral Agent Notice of Exclusive
Control, only the Manager shall have the right and authority to make withdrawals from or exercise
any other rights with respect to the Dominion Account (including the right to give Deposit Account
Orders with respect to the Dominion Account), and the Bank will comply with any instructions of the
Manager with respect to the disposition of funds from the Dominion Account without the further
consent of or by the Authority, the Collateral Agent or any other Person (subject to any such
Collateral Agent Notice of Exclusive Control). Notwithstanding the foregoing, if at any time the
Bank receives a notice originated by the Collateral Agent of a First Lien Secured Obligations Event
of Default (a &#147;<U>Collateral Agent Notice of Exclusive Control</U>&#148;), which the Collateral Agent
agrees it may only give following the occurrence and during the continuance of such a First Lien
Secured Obligations Event of Default, then during the continuation of the First Lien Secured
Obligations Event of Default Period commenced by such
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->8<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Collateral Agent Notice of Exclusive Control
the Collateral Agent shall have the sole right and authority to make withdrawals from or exercise
any other rights with respect to the Dominion Account (including the right to give Deposit Account
Orders with respect to the Dominion
Account), and the Bank will comply with any instructions of the Collateral Agent with respect to
disposition of the funds from the Dominion Account without the further consent of or by the
Authority, the Manager or any other Person. As used herein, the phrase &#147;instruction with respect
to the disposition of funds from the Dominion Account&#148; or other similar phrase shall include
Deposit Account Orders with respect to the Dominion Account.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;Prior to the delivery of a Collateral Agent Notice of Exclusive Control or at any time
when a First Lien Secured Obligations Event of Default Period is not otherwise continuing, the
Collateral Agent may not issue instructions directing the disposition of funds from the Dominion
Account. Following the delivery of a Collateral Agent Notice of Exclusive Control and during the
continuation of the First Lien Secured Obligations Event of Default Period commenced by such
Collateral Agent Notice of Exclusive Control, the Manager may not issue instructions directing the
disposition of funds from the Dominion Account. If notwithstanding the foregoing (i)&nbsp;the
Collateral Agent issues instructions directing the disposition of funds from the Dominion Account
prior to the delivery of a Collateral Agent Notice of Exclusive Control or at any time when a First
Lien Secured Obligations Event of Default Period is not otherwise continuing, the Bank will follow
only the instructions with respect to the disposition of funds from the Dominion Account issued by
the Manager whether or not the Collateral Agent&#146;s instructions conflict with any instructions
issued by the Manager, and (ii)&nbsp;the Manager issues instructions directing the disposition of funds
from the Dominion Account following the delivery of a Collateral Agent Notice of Exclusive Control
and during the continuation of the First Lien Secured Obligations Event of Default Period commenced
by such Collateral Agent Notice of Exclusive Control, the Bank will follow the instructions with
respect to the disposition of funds from the Dominion Account issued by the Collateral Agent
whether or not the Manager&#146;s instructions conflict with any instructions issued by the Collateral
Agent.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;The Authority, the Manager and the Collateral Agent each acknowledge and agree that (i)
without limiting the generality of Section&nbsp;6.4(a), the Bank may rely on any Manager Notice of
Exclusive Control, Collateral Agent Notice of Exclusive Control or other notice with respect to the
Dominion Account contemplated by this Agreement believed by the Bank to be genuine and to have been
signed or presented by the proper party, and the Bank shall have no obligation or duty to determine
(A)&nbsp;whether any event, the occurrence of which is a condition to the giving of such notice, has
occurred, or (B)&nbsp;whether the party giving such notice is otherwise authorized to do so, and (ii)
the Bank shall be fully protected in performing its duties hereunder in good faith as set forth in
this Agreement, including without limitation Sections&nbsp;6.1, 6.2, 6.3 and 6.4 of this Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;<U>Agency for Control and Perfection</U>. The Manager and the Collateral Agent agree,
pursuant to <U>Section&nbsp;5.5</U> of the Intercreditor and Subordination Agreement, that, solely for
purposes of perfecting the security interests granted pursuant to this Agreement, each shall act as
agent for both the other and itself.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->9<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;<U>Financing Statements/Legal Opinions</U>. The Bank hereby acknowledges the security
interest in the Collateral granted by this Agreement to the Collateral Agent by the Authority and
the security interest in the Enterprise Collateral granted by this Agreement to the
Manager by the Authority. The Authority authorizes, and in addition shall cause to be
delivered to the Collateral Agent and the Manager on the date of execution of this Agreement or
thereafter as the Collateral Agent or the Manager may request, (a)&nbsp;such financing statements and
similar documents necessary to perfect the security interests granted to the Collateral Agent and
the Manager pursuant to this Agreement (the &#147;<U>Financing Statements</U>&#148;), it being understood
that, without limiting the generality of the foregoing, the Authority hereby authorizes, and will
execute and file, such financing statements or continuation statements in respect thereof, or
amendments thereto, and such other instruments or notices, as the Manager or the Collateral Agent
may deem necessary or desirable, or as the Bank, the Manager or the Collateral Agent may reasonably
request, in order to perfect, preserve, and enhance the security interests granted hereby, in each
case without the additional signature or consent of the Authority where permitted by law, (b)&nbsp;a
legal opinion, in form and substance reasonably acceptable to Morgan Stanley &#038; Co. Incorporated, or
after the issuance of the Senior Notes, the Collateral Agent, opining as to the due authorization,
execution, delivery and enforceability of this Agreement and the Financing Statements by the
Authority and the validity and perfection of the security interest granted to the Collateral Agent
hereby, together with opinions as to the Authority&#146;s sovereign immunity waiver and noncontravention
with laws and agreements, and (c)&nbsp;a legal opinion, in form and substance reasonably acceptable to
the Manager, opining as to the due authorization, execution, delivery and enforceability of this
Agreement and the Financing Statements by the Authority and the validity and perfection of the
security interest granted to the Manager hereby, together with opinions as to the Authority&#146;s
sovereign immunity waiver and noncontravention with laws and agreements.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&#091;Intentionally omitted&#093;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;<U>Dominion Account</U>. The Bank hereby agrees and confirms that it has established the
Dominion Account as set forth and defined in this Agreement. Until this Agreement terminates in
accordance with the terms hereof, the Collateral Agent and the Manager each shall have &#147;control&#148;
(within the meaning of Section&nbsp;9-104 of the Uniform Commercial Code) of the Dominion Account,
subject to the terms of this Agreement. Each of the Authority and the Bank agrees that it has not
and will not execute and deliver, or otherwise become bound by, any agreement under which it agrees
with any Person other than the Manager or the Collateral Agent to comply with Deposit Account
Orders originated by such Person relating to the Dominion Account. If the Bank or the Authority
obtains knowledge that any Person has asserted a lien, encumbrance or adverse claim against the
Dominion Account, such party will promptly notify the Manager and the Collateral Agent thereof.
For so long as this Agreement remains in effect, the Bank waives its rights of chargeback, setoff
(including such right of setoff as set forth in Section&nbsp;9-340 of the Uniform Commercial Code)
and/or banker&#146;s lien against the Dominion Account (except for debits to the Dominion Account for
the payment of Returned Item&nbsp;Amounts, Settlement Item&nbsp;Amounts, or Bank Fees). In the event that
the Bank has or subsequently obtains by agreement, operation of law or otherwise a lien or security
interest in the Dominion Account, the Bank agrees that such lien or security interest shall be
subordinate to the lien and security
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->10<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">interest of the Manager or the Collateral Agent. Regardless
of any provision in any other agreement, for purposes of the Uniform Commercial Code, the State of
New York shall be
deemed to be the Bank&#146;s jurisdiction (within the meaning of Section&nbsp;9-304 of the Uniform
Commercial Code).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;<U>Debit Amounts</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;The Bank may pay any Returned Item&nbsp;Amounts, Settlement Item&nbsp;Amounts and Bank Fees by
debiting the Dominion Account on the Business Day that such Returned Item&nbsp;Amounts, Settlement Item
Amounts or Bank Fees are due and payable, without notice to any other party.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;If there are not sufficient funds in the Dominion Account to cover fully such Returned
Item&nbsp;Amounts, Settlement Item&nbsp;Amounts or Bank Fees on the Business Day they are debited from the
Dominion Account, the unpaid amounts thereof will be paid by the Authority sending the Bank a check
in the amount of such unpaid amounts, without setoff or counterclaim, within fifteen (15)&nbsp;calendar
days after the Bank&#146;s demand to the Authority for payment by the Authority of such amounts.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;The Manager agrees that, other than during a First Lien Secured Obligations Event of
Default Period, any Returned Item&nbsp;Amounts or Bank Fees not paid by the Authority in accordance with
the provisions of clause (ii)&nbsp;above will be paid by the Manager sending the Bank a check in the
amount of such unpaid amount, without setoff or counterclaim, within thirty (30)&nbsp;calendar days
after the Bank&#146;s demand to the Manager for payment by the Manager of such unpaid amount (provided
that (x)&nbsp;with respect to Returned Item&nbsp;Amounts, the Manager&#146;s liability shall be limited to the
extent the Manager received proceeds from the corresponding Returned Item&nbsp;Amounts and (y)&nbsp;with
respect to Banks Fees, the Manager&#146;s liability shall be limited to the amount of funds that have
been disbursed to the Manager from the Dominion Account under this Agreement). The Authority will
promptly indemnify the Manager with respect to any amounts so paid pursuant to this clause (iii),
and, if such indemnification is not promptly made, the amounts so paid shall be deemed to be Costs
of Gaming Operations under the Development and Management Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;The Collateral Agent agrees that, after delivery of a Collateral Agent Notice of
Exclusive Control and during the continuation of the First Lien Secured Obligations Event of
Default Period commenced by such Collateral Agent Notice of Exclusive Control, any amount not paid
by the Authority in accordance with the provisions of clause (ii)&nbsp;above will be paid by the
Collateral Agent sending the Bank a check in the amount of such unpaid amount, without setoff or
counterclaim, within thirty (30)&nbsp;calendar days after the Bank&#146;s demand to the Collateral Agent for
payment by the Collateral Agent of such unpaid amount (provided that (x)&nbsp;with respect to Returned
Item&nbsp;Amounts, the Collateral Agent&#146;s liability shall be limited to the extent the Collateral Agent
received proceeds from the corresponding Returned Item&nbsp;Amounts and (y)&nbsp;with respect to Settlement
Item&nbsp;Amounts or Banks Fees, the Collateral Agent&#146;s liability shall be limited to the amount of
funds that have been disbursed to the Collateral Agent from the Dominion Account under this
Agreement). The Authority will promptly indemnify the
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->11<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Collateral Agent with respect to any amounts
so paid pursuant to this clause (iii), and, if such
indemnification is not promptly made, the amounts so paid shall be deemed to be Costs of
Gaming Operations under the Development and Management Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2.2 <U>Deposit of Gross Revenues</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The Authority agrees that it will direct the Manager and any other applicable parties to
cause all Gross Revenues to be transferred to the Bank on each Business Day for deposit into the
Dominion Account. If any Gross Revenues are inadvertently deposited in any other account, the
Authority shall immediately transfer or cause to be transferred all such Gross Revenues or other
Collateral, consisting of cash and other collected funds directly by wire transfer of immediately
available funds to the Dominion Account, on each Business Day.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;In the event that the Authority receives any payment that should have been deposited into
the Dominion Account as provided pursuant to this Agreement, the Authority agrees that it will hold
such amounts in trust for the benefit of the Collateral Agent and the Manager as set forth herein,
and shall not commingle any such funds with any of its funds or other property and shall
immediately transfer such amounts to the Bank for deposit into the Dominion Account.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;The Authority agrees that the Bank&#146;s officers, agents and employees are irrevocably
authorized by it to endorse for payment to the Bank any instruments received by the Bank for
deposit into the Dominion Account. Notwithstanding the foregoing, if the security interest granted
pursuant to <U>Section&nbsp;3.1</U> to the Collateral Agent is released or terminated for any reason
(including, without limitation, in connection with the payment in full, or other Discharge, of the
First Lien Secured Obligations), only Enterprise Revenues shall be required thereafter to be
deposited in the Dominion Account pursuant to this <U>Section&nbsp;2.2</U>. To the extent Manager
controls the disposition of Gross Revenues, the Manager shall also cause all Gross Revenues to be
deposited into the Dominion Account.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;The Manager, the Collateral Agent and the Authority agree that all Gross Revenues that do
not also constitute Enterprise Revenues, as well as any Collateral that does not also constitute
Enterprise Collateral, will be deposited in a sub-account within the Dominion Account or otherwise
segregated or separately accounted for.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2.3 <U>Withdrawals from Dominion Account</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Subject to the Manager&#146;s rights under <U>Section&nbsp;5.2</U>, and further subject at all
times to a Collateral Agent Notice of Exclusive Control of the Collateral Agent, the Manager
acknowledges and agrees with the Authority and the Collateral Agent that during each calendar month
it may only make (i)&nbsp;such transfers from the Dominion Account relating to sweep investments made in
accordance with this Agreement with funds on deposit in the Dominion Account, and (ii)&nbsp;such
transfers from the Dominion Account to and for the benefit of each of the Authority and the Manager
in such amounts, for such purposes, and as and when both (A)&nbsp;required or permitted under the
Development and Management Agreement and (B)&nbsp;permitted
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->12<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">under the Indenture. Except during any
First Lien Secured Obligations Event of Default Period,
in connection with any such withdrawals and transfers and any other aspects of the Dominion
Account, the Bank shall acknowledge and comply with only the withdrawal requests and other
directions (including Deposit Account Orders with respect to the Dominion Account) received from
the Manager, except as provided in an arbitration award in an arbitration to which the Manager and
the Authority are parties, and, for avoidance of doubt, the Bank shall so comply without further
consent by the Authority or any other Person.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Notwithstanding anything contained in the foregoing clause (a), upon receipt by the Bank
of a Collateral Agent Notice of Exclusive Control, then during the First Lien Secured Obligations
Event of Default Period commenced by such Collateral Agent Notice of Exclusive Control, the Bank
shall acknowledge and comply with only the withdrawal requests and other directions (including
Deposit Account Orders with respect to the Dominion Account) received from the Collateral Agent;
<U>provided</U>, <U>however</U>, that following the receipt by the Bank of a Collateral Agent
Notice of Exclusive Control and during the continuation of the First Lien Secured Obligations Event
of Default Period commenced by such Collateral Agent Notice of Exclusive Control, the Collateral
Agent, on behalf of the Authority and the Manager, shall make withdrawals from the Dominion Account
for the payment of certain Operating Expenses as and to the extent set forth in the Intercreditor
Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2.4 <U>Interest</U>. Subject to <U>Section&nbsp;3.3</U> of this Agreement, funds in the
Dominion Account shall be invested in sweep investments qualifying as Cash Equivalents that are
reasonably acceptable to the Authority, the Manager and the Bank and otherwise in conformity with
the terms of the Indenture. No such investments shall be subject to or held in a margin account.
Any interest accruing with respect to amounts now or hereafter on deposit with respect to the
Dominion Account, and all interest or other income accruing from such sweep investments, shall be
deposited into the Dominion Account and become part of the proceeds of the Collateral and
distributed as part of such proceeds. Notwithstanding anything to the contrary contained in this
<U>Section&nbsp;2.4</U>, <U>Section&nbsp;3.3</U> or otherwise, the Bank shall not be responsible for
determining if any sweep investment qualifies as Cash Equivalents.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2.5 <U>Monthly Reporting</U>. On or before the fifth (5<SUP style="font-size: 85%; vertical-align: text-top">th</SUP>) Business Day
of each calendar month, the Bank shall provide to the Authority, the Manager and the Collateral
Agent an account statement with respect to the Dominion Account reflecting all deposits to,
withdrawals from and charges credited against the Dominion Account.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ARTICLE 3<BR>
PLEDGE AND GRANT OF SECURITY INTERESTS
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3.1 <U>Grant of the Security Interest to the Collateral Agent</U>. Subject to the
terms of the Intercreditor and Subordination Agreement, as security for the payment and performance
of all of the First Lien Secured Obligations, the Authority hereby pledges to the Collateral Agent
and grants a continuing first priority security interest to the Collateral Agent in all of the
Authority&#146;s right, title and interest in and to the Collateral.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->13<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3.2 <U>Grant of the Security Interest to the Manager</U>. Subject to the terms of
the Intercreditor and Subordination Agreement, as security for the payment and performance of all
of the Manager Obligations, the Authority hereby pledges to the Manager and grants a continuing
security interest to the Manager in all of the Authority&#146;s right, title and interest in and to the
Enterprise Collateral. Such security interest shall be subordinate to the security interest of the
Collateral Agent for the benefit of the First Lien Secured Parties as set forth in the
Intercreditor and Subordination Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3.3 <U>Control; Investment Instructions</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Subject to a Collateral Agent Notice of Exclusive Control as set forth in <U>Section
2.1</U> and <U>Section&nbsp;3.3(b)</U>, the Bank covenants and agrees that it will comply with all
instructions, requests or other directions originated by the Manager concerning the Dominion
Account at any time without further consent by the Authority, the Collateral Agent or any other
party. Except as otherwise provided in this Agreement, the Bank shall accept sweep investment
instructions with respect to the Collateral held in the Dominion Account at the direction of the
Authority or its authorized representatives and Manager until such time as Manager delivers a
written notice to Agent and the Authority in accordance with <U>Section&nbsp;5.2(a)</U> that Manager is
thereby exercising exclusive control over the Account (&#147;<U>Manager Notice of Exclusive
Control</U>&#148;); <U>provided</U> that amounts on deposit in the Dominion Account may only be
invested in sweep investments qualifying as Cash Equivalents; <U>provided</U>, <U>further</U>,
that the proceeds from the sale of any such investments are deposited in or credited to the
Dominion Account contemporaneously with such transaction; and <U>provided</U>, <U>further</U>,
such investment instructions shall not affect the type or nature of Collateral for attachment and
perfection purposes under the Uniform Commercial Code. After the Bank receives a Manager Notice of
Exclusive Control, it will immediately cease complying with any investment instructions concerning
the Dominion Account originated by the Authority or its representatives and shall comply with only
such investment instructions as are originated by the Manager.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Notwithstanding the foregoing <U>Section&nbsp;3.3(a)</U>, if the Bank receives a Collateral
Agent Notice of Exclusive Control, then during the continuation of the First Lien Secured
Obligations Event of Default Period commenced by such Collateral Agent Notice of Exclusive Control,
the Bank will immediately cease complying with any sweep investment instructions concerning the
Dominion Account originated by the Authority or the Manager or any of their representatives and
shall comply with only such sweep investment instructions as are originated by the Collateral
Agent; <U>provided</U> that amounts on deposit in the Dominion Account may only be invested in
sweep investments qualifying as Cash Equivalents; <U>provided</U>, <U>further</U>, that the
proceeds from the sale of any such investments are deposited in or credited to the Dominion Account
contemporaneously with such transaction; and <U>provided</U>, <U>further</U>, such investment
instructions shall not affect the type or nature of Collateral for attachment and perfection
purposes under the Uniform Commercial Code.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3.4 <U>Duration and Transfer of Funds in Dominion Account</U>.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->14<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;<U>Manager</U>. The pledge and security interest granted herein in the Enterprise
Collateral will continue with respect to the Manager, subject to the terms of the Intercreditor and
Subordination Agreement, until (i)&nbsp;indefeasible payment in cash in full of all of the Manager
Obligations, (ii)&nbsp;other Discharge of the Manager Obligations, or (iii)&nbsp;the cancellation or
termination by the Manager under a written cancellation instrument signed by the Manager or except
as otherwise provided in an arbitration award made in an arbitration to which the Manager and the
Authority are parties. If the pledge and security interest granted to the Manager herein are
terminated for any reason, including pursuant to this Section, the Manager shall have no further
interest in the Dominion Account or the funds on deposit therein, and shall deliver written notice
thereof to the Collateral Agent and the Bank. Thereafter, the Manager or the Collateral Agent (as
applicable) shall direct the Bank to follow the transfer instructions of the Authority and the
Authority shall transfer all of the funds held in the Dominion Account to a separate deposit
account (the &#147;<U>Collateral Agent Deposit Account</U>&#148;) that is (i)&nbsp;subject to an account control
agreement in favor of the Collateral Agent for the benefit of the First Lien Secured Parties in
form and substance satisfactory to the Collateral Agent, and (ii)&nbsp;in which the Collateral Agent
holds a first priority security interest to all of the Authority&#146;s right, title and interest in
such funds and such account for the benefit of the First Lien Secured Parties. Following such
transfer, this Agreement shall terminate and all future Gross Revenues shall be deposited in the
Collateral Agent Deposit Account and the terms of the account control agreement for such Collateral
Agent Deposit Account shall govern the treatment of such Gross Revenues. In conjunction with such
transfer and termination of this Agreement: (a)&nbsp;the Authority shall deliver to the Collateral Agent
a legal opinion in form and substance reasonably acceptable to the Collateral Agent opining as to
the due authorization, execution, and delivery of the account control agreement for the Collateral
Agent Deposit Account by the Authority, together with opinions as to the Authority&#146;s sovereign
immunity waiver, noncontravention with laws and agreements, and validity of the security interest
in favor of the Collateral Agent for the benefit of the First Lien Secured Parties, and (b)&nbsp;the
Authority and the Manager shall each take such actions as may be reasonably required by the
Collateral Agent to effect the provisions of this paragraph. The Manager also acknowledges and
agrees that it shall cause the termination of this Agreement as and when required pursuant to the
applicable terms and provisions of the Development and Management Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;<U>Collateral Agent</U>. The pledge and security interests granted herein in the
Collateral will continue with respect to the Collateral Agent, subject to the terms of the
Intercreditor and Subordination Agreement, until either (i)&nbsp;the security interests of Collateral
Agent under the Senior Security Agreement terminate, or (ii)&nbsp;the Discharge of all of the First Lien
Secured Obligations otherwise occurs. Upon termination of the pledge and security interests of the
Collateral Agent set forth herein, the Collateral Agent shall provide written notice of same to the
Bank and the Manager, and upon receipt by the Bank of such notice, the Collateral Agent shall cease
to be a party to this Agreement and shall have no further interest in the Dominion Account or the
funds on deposit therein, whereupon the Manager may (but shall not be required to), by written
notice to the Bank and the Authority, terminate this Agreement and direct that all of the funds and
other property held in the Dominion Account be deposited in such other dominion account or accounts
as the Manager shall specify in such notice.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->15<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3.5 <U>Transfers Free of Security Interest</U>. Without modifying the terms of
<U>Section&nbsp;2.1</U> and <U>Section&nbsp;2.3</U> hereof, except with respect to funds on deposit in the
Dominion Account transferred from the Dominion Account relating to sweep investments made in
accordance with this Agreement (which shall remain subject to the pledge and security interest of
the Manager), all funds transferred from the Dominion Account as provided herein (but only as
provided herein), including without limitation any funds transferred by or at the direction of the
Manager to the Enterprise Accounts (as defined in the Development and Management Agreement)
pursuant to <U>Sections&nbsp;3.8(b)</U> of the Development and Management Agreement, as well as all
Minimum Guaranteed Monthly Payments (as such term is defined in <U>Section&nbsp;6.3(a)</U> of the
Development and Management Agreement) and other funds distributed to the Authority, shall be free
of the pledge and security interest of the Manager hereunder immediately upon their transfer from
the Dominion Account.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ARTICLE 4<BR>
AUTHORITY COVENANTS
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4.1 <U>Covenants of the Authority</U>. During the term of this Agreement, the
Authority will observe and comply with the following requirements:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;<U>Further Assurances</U>. The Authority will promptly execute and deliver all
instruments and documents, and take such actions that may be necessary or that the Bank, the
Manager or the Authority may reasonably request, in order to give effect to the terms of this
Agreement and to perfect and protect the security interests granted hereby or, after a Manager
Event of Default or First Lien Secured Obligations Event of Default and in accordance with the
Intercreditor and Subordination Agreement, to enable each of the Bank, the Manager or the
Collateral Agent, as applicable, to exercise and enforce its rights and remedies hereunder with
respect to any Collateral in which it holds a security interest in accordance with this Agreement.
The Authority hereby authorizes the Manager or the Collateral Agent to file this Agreement (if the
Authority shall fail to provide an appropriate financing statement within ten (10)&nbsp;Business Days
after request) or one or more continuation statements in respect thereof, relating to all or any
part of the Collateral without the additional signature or consent of the Authority where permitted
by law. A photocopy or other reproduction of this Agreement or any financing statement covering
the Collateral or any part thereof shall be sufficient as a financing statement where permitted by
law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;<U>No Revocation</U>. The Authority shall not revoke any direction or authorization
required or authorized to be given to the Bank pursuant to Article&nbsp;2 or elsewhere herein;
<U>provided</U>, <U>however</U>, that the Authority may revoke any direction or authorization
required or authorized to be given to the Bank pursuant to Article&nbsp;2 or elsewhere herein if
authorized pursuant to an arbitration award to which the Manager and the Authority are parties;
<U>provided</U>, <U>further</U> that any such revocation pursuant to an arbitration award to
which the Manager and the Authority are parties shall only be with respect to any rights of the
Manager or the Authority and may not affect the rights of the Collateral Agent.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->16<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;<U>Financial Statements</U>. After the occurrence of a Transaction Document Event of
Default and termination of the Development and Management Agreement, the Authority will furnish the
following to the Manager upon request:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Within thirty (30)&nbsp;calendar days after the end of each month
and one hundred twenty (120)&nbsp;calendar days after the end of each fiscal year,
financial and operating statements of the Enterprise for such month (and
year-to-date) or fiscal year, as applicable, including a balance sheet and a
profit and loss statement, all in reasonable detail and conforming to generally
accepted accounting principles for casinos. The monthly statements shall be
prepared and certified by the Authority as being true and correct
representations of the information set forth therein and the annual financial
statements shall be prepared, audited and certified by independent certified
public accountants with casino auditing experience employed or retained by the
Authority. The Manager agrees that any such information, as well as any other
information it may receive from the Authority relating to the Enterprise, shall
be and remain subject to the provisions of <U>Section&nbsp;10.20</U> of the
Development and Management Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Within fifteen (15)&nbsp;calendar days after the filing thereof, a
copy of the Authority&#146;s regulatory filings under IGRA and the Tribal-State
Compact for each calendar year during the term hereof, with all schedules
attached.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>With each of the annual audited and monthly unaudited
financial statements delivered pursuant to this subsection a certificate of the
chief financial officer of the Authority or an appropriate officer of the
manager of the Enterprise substantially in the form set forth in <U>Exhibit
A</U> stating that, except as explained in reasonable detail in such
certificate, all Enterprise Revenues have been deposited into the Dominion
Account for the period covered by such financial statement. If such
certificate discloses an exception to such certification, such certificate
shall set forth what action the Authority has taken or proposes to take with
respect thereto.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;<U>Insurance</U>. At such time as the Manager shall no longer be the manager of the
Enterprise, the Authority shall cause to be maintained such insurance as required by the
Development and Management Agreement (except that the Manager shall not be a named insured or
additional insured but will be named as a certificate holder if permitted by the insurer without
granting an insurable interest). Upon request, the Authority shall provide to the Bank and the
Manager certificates of insurance or copies of insurance policies evidencing that such insurance is
in effect at all times.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;<U>Other Accounts</U>. So long as the Collateral Agent continues to hold a security
interest in the Collateral, the Authority shall not establish any demand, time, savings, passbook
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->17<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">or other deposit account other than those accounts comprising the Dominion Account and other
Permitted Accounts, unless otherwise consented to in writing by the Collateral Agent.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ARTICLE 5<BR>
EVENTS OF DEFAULT/REMEDIES
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;5.1 <U>Events of Default</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;<U>Manager Events of Default</U>. Each of the following occurrences shall constitute a
&#147;<U>Manager Event of Default</U>&#148;:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any material representation or warranty made by or on behalf of
the Authority herein or in any report, certificate or other document furnished
by or on behalf of the Authority pursuant to this Agreement shall prove to be
false or misleading in any material respect when made, and such false or
misleading statement shall cause a material loss or have a material adverse
effect on any Collateral or any Transaction Documents and such loss or adverse
effect is not cured by the Authority within sixty (60)&nbsp;calendar days after
providing notice thereof to the Authority.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Authority shall default in the due observance or
performance of any of its material obligations hereunder and such default shall
continue for thirty (30)&nbsp;calendar days after written notice thereof has been
sent to the Authority by the Manager or the Bank; <U>provided, however</U>,
that if the nature of such default (but specifically excluding defaults curable
by the payment of money) is such that it is not possible to cure such default
within such cure period, such cure period shall be extended for so long as the
Authority shall be using diligent efforts to effect a cure thereof.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A Transaction Document Event of Default shall occur.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;<U>First Lien Secured Obligations Event of Default</U>. A &#147;<U>First Lien Secured
Obligations Event of Default</U>&#148; shall mean any Event of Default under the Senior Security
Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;5.2 <U>Remedies on Default</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;<U>Remedies of the Manager</U>. Subject at all times to the Intercreditor and
Subordination Agreement, and provided that a First Lien Secured Obligations Event of Default Period
is not then continuing, whenever a Manager Event of Default shall have occurred and be continuing
(if such default is not cured within any applicable cure period), the Manager may thereafter give
the Bank and the Authority a Manager Notice of Exclusive Control, and the Bank (for and on behalf
and at the direction of the Manager) or the Manager, as applicable, shall be entitled to pay to the
Manager from Enterprise Collateral all amounts otherwise payable to the Authority with respect to
the Monthly Distribution Payment and to apply the same towards the repayment of the Manager
Obligations, and to endorse in the name of the Authority any checks,
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->18<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">drafts, notes or other instruments or documents received in payment of or on account of the
Enterprise Collateral; and any such proceeds so received and prepaid shall be applied to
installments of principal on the Manager Obligations in the inverse order of their maturity; and
provided further that the Manager may obtain any injunctive or other relief as is necessary for the
enforcement of this Agreement and the terms and provisions set forth herein; <U>provided</U>,
<U>however</U>, that any and all obligations of the Authority and remedies of the Manager shall be
Limited Recourse and shall be subject to the limitations set forth in the Resolution of Limited
Waiver; and provided further that, notwithstanding any term or provision contained herein, the
Manager shall take all steps necessary to continue to permit and cause the necessary withdrawals
and transfers to be made from the Dominion Account in accordance with <U>Section&nbsp;2.3</U> hereof so
long as such withdrawals and transfers are both otherwise required to be made by the Development
and Management Agreement and permitted to be made by the Indenture, with the exception that the
Manager shall be entitled to retain all amounts otherwise payable to the Authority with respect to
the Monthly Distribution Payment and apply the same towards the repayment of the Manager
Obligations; and in no event shall the Manager exercise any remedy against the Authority (excluding
third parties) with respect to the Enterprise Revenues other than such remedies as are necessary to
require their deposit into the Dominion Account or seeking an accounting and turnover of any
Enterprise Revenues held in trust by the Authority as required under <U>Section&nbsp;2.2</U> hereof
until such time that the Authority shall have ceased business operations at the Enterprise, at
which time the Manager may exercise all rights and remedies under applicable law or by agreement
and apply all proceeds of the Enterprise Collateral to the repayment of the Manager Obligations;
and, as to third parties, in no event shall the Manager seek to recover funds paid to third parties
through transfers from the Dominion Account in accordance with <U>Section&nbsp;2.3</U>. The Authority
agrees that, to the extent notice of sale shall be required by law with respect to the disposition
of any Collateral, at least ten (10)&nbsp;calendar days notice to the Authority of the time and place of
any public sale or the time after which a private sale is to be made shall constitute reasonable
notification. The Manager agrees that it shall withdraw and terminate any Manager Notice of
Exclusive Control at such time that all outstanding Manager Events of Default have been cured by
the Authority. Notwithstanding the foregoing, in the event that the Collateral Agent provides a
Collateral Agent Notice of Exclusive Control, then during the continuation of the First Lien
Secured Obligations Event of Default Period commenced by such Collateral Agent Notice of Exclusive
Control the provisions of <U>Section&nbsp;5.2(b)</U> shall control and this <U>Section&nbsp;5.2(a)</U>
shall not apply and any Manager Notice of Exclusive Control shall cease to be of effect.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;<U>Remedies of the Collateral Agent</U>. Notwithstanding <U>Section&nbsp;5.2(a)</U>,
whenever a First Lien Secured Obligations Event of Default shall have occurred and be continuing
and, if such default is not cured within any applicable cure period, the Collateral Agent may
thereafter give the Bank and the Authority (and provide the Manager with a copy of) a Collateral
Agent Notice of Exclusive Control, and the Bank (for and on behalf and at the direction of the
Collateral Agent) or the Collateral Agent, as applicable, shall, during the continuation of the
First Lien Secured Obligations Event of Default Period commenced by such Collateral Agent Notice of
Exclusive Control, be entitled to pay to the Collateral Agent from the Dominion Account all amounts
otherwise payable to the Authority, and to endorse in the name of the Authority any checks, drafts,
notes or other instruments or documents received in payment of or on account of
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->19<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">the Gross Revenues or other Collateral, and the Collateral Agent shall have all remedies of a
secured party under the Uniform Commercial Code and may provide any Deposit Account Order with
respect to the Dominion Account or instruct the Bank to pay to or deliver to, or to the order of,
Collateral Agent any or all amounts or assets on deposit in or credited to the Dominion Account;
and provided further that the Collateral Agent may obtain any injunctive or other relief as is
necessary for the enforcement of this Agreement and the terms and provisions set forth herein; and,
as to third parties, in no event shall the Collateral Agent seek to recover funds paid to third
parties through transfers from the Dominion Account in accordance with <U>Section&nbsp;2.3</U>. The
Authority agrees that, to the extent notice of sale shall be required by law with respect to the
disposition of any Collateral, at least ten (10)&nbsp;calendar days notice to the Authority of the time
and place of any public sale or the time after which a private sale is to be made shall constitute
reasonable notification.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Each of the parties hereto acknowledge and agree that all reasonable costs and expenses
incurred by the Bank, the Manager or the Collateral Agent after a Manager Event of Default or a
First Lien Secured Obligations Event of Default, as the case may be, in connection with the
exercise of any remedy hereunder, including reasonable attorneys&#146; fees, are the costs, expense and
responsibility of the Authority and shall be paid from the Dominion Account notwithstanding any
other terms, provisions or priorities set forth in this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;5.3 <U>Waivers; Remedies</U>. Any waiver given by the Manager or the Collateral
Agent hereunder shall be effective if it is in writing and only in the specific instance and for
the specific purpose given. Mere delay or failure to act shall not preclude the exercise or
enforcement of any rights and remedies available to the Manager or the Collateral Agent. All
rights and remedies of the Bank, the Manager or the Collateral Agent shall be cumulative and may be
exercised singularly in any order or concurrently, at the option of the Manager or the Collateral
Agent, as applicable, and the exercise or enforcement of any such right or remedy shall neither be
a condition to nor a bar to the exercise or enforcement of any other.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ARTICLE 6<BR>
THE BANK
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.1 <U>Bank&#146;s Rights and Duties</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The Bank&#146;s sole agency and duty with respect to the Manager and the Collateral Agent under
this Agreement is for the purposes of perfecting the Manager&#146;s and the Collateral Agent&#146;s pledge
and security interest in the Collateral and the Bank shall have no other duty or obligation,
fiduciary or otherwise to the Manager or the Collateral Agent except to the extent expressly set
forth herein. Notwithstanding anything to the contrary contained herein, the Bank shall not be
liable to any party hereto for any transfer from the Dominion Account which the Bank, in its
commercially reasonable judgment, believes was authorized by the appropriate Person under this
Agreement, whether or not such transfer violates any contractual or fiduciary obligations of such
Person.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->20<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The Bank undertakes to perform such duties as are specifically set forth in this
Agreement, and no implied covenants or obligations shall be read into this Agreement against the
Bank.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;In the absence of bad faith on its part, the Bank may conclusively rely, as to the truth
of the statements and the correctness of the opinions expressed therein, upon certificates or
opinions furnished to the Bank and conforming to the requirements of this Agreement; but in the
case of any such certificates or opinions which by any provision hereof are specifically required
to be furnished to the Bank, the Bank shall be under a duty to examine the same to determine
whether or not they conform to the requirements hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;In case that a Manager Event of Default or a First Lien Secured Obligations Event of
Default has occurred and is continuing and the Bank has been so notified in writing, the Bank shall
exercise such of the rights and powers vested in it by this Agreement, and use the same degree of
care and skill in their exercise, as a prudent Person would exercise or use under the circumstances
in the conduct of such Person&#146;s own affairs.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;No provision of this Agreement shall be construed to relieve the Bank from liability for
its own willful misconduct, gross negligence or breach of duty hereunder, except that:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>this subsection shall not be construed to limit the effect of
subsections (a)&nbsp;or (b)&nbsp;of this Section;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Bank shall not be liable for any error of judgment made in
good faith by an officer, employee or agent of the Bank, unless it shall be
proved that the Bank was grossly negligent in ascertaining the pertinent facts;
and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>no provision of this Agreement shall require the Bank to
expend or risk its own funds or otherwise incur any financial liability in the
performance of any of its duties hereunder, or in the exercise of any of its
rights or powers, if it shall have reasonable grounds for believing that
repayment of such funds or adequate indemnity against such risk or liability is
not reasonably assured to it.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;Except for the requirements under <U>Section&nbsp;3.3</U> hereof, the safekeeping of any funds
in its possession, the accounting for funds actually received by it hereunder and the investment of
the funds in accordance with instructions given in accordance with this Agreement, the Bank shall
have no duty to the Authority as to any Gross Revenues or other Collateral or as to the taking of
any necessary steps to preserve rights against any Persons or any other rights pertaining to any
Gross Revenues or other Collateral.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;Except as specifically provided in this Agreement, the Dominion Account and services of
the Bank relating thereto shall be subject to, and the Bank&#146;s operation of the Dominion Account and
the services of the Bank relating thereto (including without limitation any sweep product services)
shall be in accordance with, the terms and provisions of the Bank&#146;s
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->21<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">customary account opening and other account and service-related documentation (as in effect
from time to time, collectively, the &#147;<U>Account Documentation</U>&#148;). The Authority agrees, upon
the Bank&#146;s request, to promptly execute and deliver the Account Documentation to the Bank. In the
event of any inconsistency between this Agreement and any Account Documentation, the terms of this
Agreement shall control.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;IN NO EVENT WILL THE BANK BE LIABLE FOR ANY SPECIAL, CONSEQUENTIAL, INCIDENTAL, INDIRECT
OR PUNITIVE DAMAGES, WHETHER ANY CLAIM IS BASED ON CONTRACT OR TORT, WHETHER THE LIKELIHOOD OF SUCH
DAMAGES WAS KNOWN TO THE BANK AND REGARDLESS OF THE FORM OF THE CLAIM OR ACTION, INCLUDING, BUT NOT
LIMITED TO, ANY CLAIM OR ACTION ALLEGING GROSS NEGLIGENCE, WILLFUL MISCONDUCT, FAILURE TO EXERCISE
REASONABLE CARE OR FAILURE TO ACT IN GOOD FAITH.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.2 <U>Indemnification</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The Authority agrees to indemnify, to hold the Bank harmless and to defend the Bank
against any claims, causes of action, damages or expenses, including all reasonable fees and
expenses of counsel (such claims, causes of action, damages and expenses being herein referred to
collectively as &#147;<U>Losses and Liabilities</U>&#148;) arising out of any claim against the Bank by any
Person with respect to amounts due to such Person from sums paid to the Bank hereunder, other than
with respect to claims arising out of the breach of this Agreement, or the willful misconduct or
gross negligence, by the Bank, its officers, agents or employees, in the performance of its duties
under this Agreement, and, as among the Authority, the Manager and the Collateral Agent, any such
amounts shall be deemed to be Costs of Construction under the Development and Management Agreement
with respect to all such amounts occurring prior to the Commencement Date and thereafter shall be
deemed Costs of Gaming Operations under the Development and Management Agreement and subject to the
terms of Section&nbsp;3.9 thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;To the extent to Authority fails to so indemnify, hold harmless and defend the Bank
against any Losses and Liabilities in accordance with the provisions of <U>Section&nbsp;6.2(a)</U>
within fifteen (15)&nbsp;calendar days after the Bank&#146;s demand to the Authority therefor, then (a)&nbsp;the
Collateral Agent will indemnify the Bank against any such Losses and Liabilities the Bank may
suffer or incur as a result of or in connection with the Bank having followed, in accordance with
the provisions of this Agreement, any instruction or request of the Collateral Agent (provided that
such indemnification obligation shall be limited to the amount of funds that have been disbursed to
the Collateral Agent under this Agreement), and (b)&nbsp;the Manager will indemnify the Bank against any
such Losses and Liabilities the Bank may suffer or incur as a result of or in connection with the
Bank having followed, in accordance with the provisions of this Agreement, any instruction or
request of the Manager (provided that such indemnification obligation shall be limited to the
amount of funds that have been disbursed to the Manager under this Agreement). The Authority will
promptly indemnify the Collateral Agent or the Manager, as the case may be, with respect to any
Losses and Liabilities so paid pursuant to this <U>Section&nbsp;6.2(b)</U>, and, if such
indemnification is not promptly made, the Losses and Liabilities so paid shall be deemed to be
Costs of Gaming Operations under the Development and Management Agreement.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->22<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.3 <U>Fees and Expenses</U>. The Authority agrees to pay the Bank Fees as provided
in <U>Section&nbsp;2.1(f)</U>. The Authority further agrees, after a Manager Event of Default or First
Lien Secured Obligations Event of Default, to pay and reimburse the Bank on demand for all
out-of-pocket expenses (including in each case all filing and recording fees and taxes and all
reasonable fees and expenses of counsel) incurred or expended by the Bank in connection with the
creation, perfection, satisfaction, foreclosure or enforcement of the security interests granted
hereby and the preparation, administration and enforcement of this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.4 <U>Certain Rights of Bank</U>. Except as otherwise provided in <U>Section
6.1</U>:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The Bank may rely and shall be protected in acting or remaining from acting upon any
certificate, statement, instrument, opinion, report, notice, request, direction, consent, order or
other paper or documents believed by it to be genuine and to have been signed or presented by the
proper party or parties.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Whenever in the administration of this Agreement the Bank shall deem it desirable that a
matter be proved or established prior to taking, suffering, or omitting any action hereunder, the
Bank (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on
its part, rely upon a certificate of an officer of the Manager and a certificate of an authorized
employee the Collateral Agent; <U>provided</U>, <U>however</U>, during a First Lien Secured
Obligations Event of Default Period, the Bank may only rely on a certificate of the Collateral
Agent.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;The Bank shall not be bound to make any investigation into the facts or matters stated in
any certificate, statement, instrument, opinion, report, notice, request, direction, consent, order
or other paper or document, but the Bank, in its discretion, may make such further inquiry or
investigation into such facts or matters as it may see fit.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.5 <U>Bank Required, Eligibility</U>. There shall at all times be a Bank hereunder
which shall be a corporation organized and doing business under the laws of the United States of
America or of any State, having a combined capital, undivided profits and surplus of at least
$500,000,000.00. If at any time the Bank shall cease to be eligible in accordance with the
provisions of this Section, it shall resign immediately in the manner and with the effect
hereinafter specified in this Article.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.6 <U>Resignation and Removal, Appointment of Successor</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;No resignation or removal of the Bank and no appointment of a successor Bank pursuant to
this Article shall become effective until the acceptance of appointment by the successor Bank under
<U>Section&nbsp;6.7</U> and execution by such successor Bank of an agreement assuming the obligations
of such resigning Bank hereunder or of a Dominion Account Agreement substantially in the form of
this Agreement. Following the resignation of the Bank, the Manager (pursuant to <U>Section
6.6(d)(i)</U>) or the Collateral Agent (pursuant to <U>Section&nbsp;6.6(d)(ii)</U>) will act promptly
and in good faith to appoint a successor Bank.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->23<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The Bank may resign (i)&nbsp;if any party should fail at any time to make any payment when due
to the Bank under the terms of this Agreement (following the expiration of any cure or grace period
provided in this Agreement with respect to such payment obligation and, with respect to any payment
obligation of the Authority, any period allowed for indemnification by another party of such
obligation), the Bank may resign by giving fifteen (15)&nbsp;calendar days prior written notice to the
Authority, the Manager and the Collateral Agent if such payment failure is not cured by the end of
such fifteen-day notice period, and (ii)&nbsp;otherwise, by giving thirty (30)&nbsp;calendar days prior
written notice thereof to the Authority, the Manager and the Collateral Agent. If an instrument of
acceptance by a successor Bank shall not have been delivered to the Bank within thirty (30)
calendar days after the giving of such notice of resignation, the resigning Bank may close the
Dominion Account and commence an interpleader or other appropriate action seeking a court order for
disposition of the proceeds of the Dominion Account or petition any court of competent jurisdiction
for the appointment of a successor Bank.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Subject to subsection (a)&nbsp;above, (i)&nbsp;other than during a First Lien Secured Obligations
Event of Default Period, the Bank may be removed at any time by an instrument in writing executed
by the Manager and the Collateral Agent, and (ii)&nbsp;during a First Lien Secured Obligations Event of
Default Period, the Bank may only be removed by an instrument in writing executed solely by the
Collateral Agent (in which case the Collateral Agent shall promptly provide the Manager written
notice of such removal in accordance with the provisions of <U>Section&nbsp;6.6(e)</U>. In either case
any successor Bank must satisfy the eligibility requirements set forth in <U>Section&nbsp;6.5)</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;If the Bank shall resign or be removed for any cause,
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;other than during a First Lien Secured Obligations Event of Default Period, the Manager
shall promptly appoint a successor Bank and promptly provide the Collateral Agent written notice
of such appointment in accordance with the provisions of <U>Section&nbsp;6.6(e)</U>; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;during a First Lien Secured Obligations Event of Default Period, the Collateral Agent
shall promptly appoint a successor Bank and promptly provide the Manager written notice of such
appointment in accordance with the provisions of <U>Section&nbsp;6.6(e)</U>;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>provided</U>, <U>however</U>, that any successor Bank must satisfy the eligibility
requirements set forth in <U>Section&nbsp;6.5</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;Any party required to give written notice of the removal of the Bank and the appointment
of a successor Bank in accordance with the provisions of the foregoing <U>Sections&nbsp;6.6(c)</U> and
<U>(d)</U> shall give such notice promptly, and in any event within five (5)&nbsp;Business Days of such
event, by certified mail, return receipt requested, postage prepaid. Such notice shall include the
name of the successor Bank and the address of its principal corporate trust office. The recipient
of the notice, within five (5)&nbsp;Business Days of its receipt of such notice, shall have the right to
reject the choice of the successor Bank by providing return written notice if (i)&nbsp;the
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->24<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">successor Bank fails to comply with <U>Section&nbsp;6.5</U> hereof, (ii)&nbsp;the successor Bank is adjudged
a bankrupt or an insolvent or an order for relief is entered with respect to the successor Bank
under any bankruptcy law, (iii)&nbsp;a custodian or public officer takes charge of the successor Bank or
its property, or (iv)&nbsp;the successor Bank becomes incapable of acting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.7 <U>Acceptance of Appointment by Successor</U>. Every successor Bank appointed
hereunder shall execute, acknowledge, and deliver to the Authority, the Manager and the Collateral
Agent, and to the retiring Bank an instrument accepting such appointment, and thereupon the
resignation or removal of the retiring Bank shall become effective and such Bank, without any
further act, deed, or conveyance, shall become vested with all the rights, powers, trusts, and
duties of the retiring Bank, but, on request of the Authority, the Manager, the Collateral Agent or
the successor Bank, such retiring Bank shall, upon payment of its charges, execute and deliver an
instrument transferring to such successor Bank all the rights, powers and trusts of the retiring
Bank, and shall duly assign, transfer and deliver to such successor Bank all property and money
held by such retiring Bank hereunder. Upon request of any such successor Bank, the Authority shall
execute any and all instruments for more fully and certain vesting in and confirming to such
successor Bank for all such rights, powers and trusts.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.8 <U>Merger, Conversion, Consolidation or Succession to Business</U>. Any
corporation into which the Bank may be merged or converted or with which it may be consolidated, or
any corporation resulting from any merger, conversion, or consolidation to which the Bank shall be
a party, or any corporation succeeding to all or substantially all of the corporate trust business
of the Bank, shall be the successor of the Bank hereunder, without the execution or filing of any
paper or any further act on the part of any of the parties hereto.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6.9 <U>No Set-Off</U>. The Bank shall not set off from the Collateral any
obligations or other amounts which may be payable to the Bank by the Authority, the Manager, the
Collateral Agent or by any other Person, other than amounts due pursuant to <U>Sections&nbsp;2.1(f)</U>
and <U>6.3</U>.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">ARTICLE 7<BR>
MISCELLANEOUS
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;7.1. <U>Notices</U>. Except as otherwise provided herein, any notice or demand
which, by provision of this Agreement, is required or permitted to be given or served any party to
the others shall be deemed to have been sufficiently given and served for all purposes: (a) (if
mailed) three (3)&nbsp;calendar days after being deposited, postage prepaid, in the United States Mail,
registered or certified mail; or (b) (if delivered by express courier) one Business Day after being
delivered to such courier; or (c) (if delivered in person) the same day as delivery, or until
another address or addresses are given in writing by a party as follows:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="60%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">To Authority:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Shingle Springs Tribal Gaming Authority</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">P. O. Box 1660</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">El Dorado, CA 95623-1660</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->25<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="60%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Attention: Chairman</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">To Bank:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Wells Fargo Bank, N.A.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Gaming Division</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">5340 Kietzke Lane, Suite&nbsp;200</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Reno, NV 89511-2065</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Attention: Erna Stuckey</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">To Manager:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Lakes KAR-Shingle Springs, LLC</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">c/o Lakes Entertainment, Inc.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">130 Cheshire Lane</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Minnetonka, MN 55305</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Attn: Timothy J. Cope</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">With a copy to:</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Gray, Plant, Mooty, Mooty &#038; Bennett</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">500 IDS Center</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">80 South Eighth Street</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Minneapolis, MN 55402-3796</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Attn: Daniel R. Tenenbaum</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">To Collateral Agent:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The Bank of New York Trust Company, N.A.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">2 North LaSalle Street</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Suite&nbsp;1020</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chicago, IL 60602</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Attention: Corporate Trust</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any notice given under this Agreement by any party shall be given to all parties.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;7.2 <U>Severability</U>. If any provision of this Agreement is prohibited by, or is
unlawful or unenforceable under, any applicable law of any jurisdiction, such provision shall, as
to such jurisdiction, be ineffective to the extent of such prohibition without invalidating the
remaining provisions hereof, <U>provided</U>, <U>however</U> that where the provisions of any
such applicable law may be waived, they hereby are waived by the parties hereto to the fullest
extent permitted by law to the end that this Agreement shall be deemed to be a valid and binding
agreement in accordance with its terms.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;7.3 <U>Survival</U>. The warranties, representations, covenants and agreements set
forth herein shall survive the execution and delivery of this Agreement and shall continue in full
force and effect until all the Manager Obligations and First Lien Secured Obligations shall have
been paid and performed in full. The terms and provisions of the Indenture referred to herein are
incorporated herein by reference and shall have the original meaning thereof notwithstanding any
termination, expiration or amendment of the Indenture.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->26<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;7.4 <U>Captions</U>. Captions herein are for convenience only and shall not be
deemed part of this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;7.5 <U>Binding Effect</U>. Subject to any limitations on assignment set forth in the
Development and Management Agreement, this Agreement shall be binding upon and inure to the benefit
of the parties hereto, their respective successors and assigns.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;7.6 <U>Amendments</U>. This Agreement may not be amended, modified, waived, canceled
or terminated, except in writing executed by all of the parties hereto. The Collateral Agent may
execute such a writing only with the consent of the Required Secured Parties (as defined in the
Intercreditor and Subordination Agreement).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;7.7 <U>Rights, Powers, Waivers, etc</U>. Each and every right, remedy and power
granted to the Bank, the Manager or the Collateral Agent hereunder or to the Manager with respect
to the Manager Obligations or the Collateral Agent under the Intercreditor and Subordination
Agreement shall be cumulative and may be exercised by the Bank, the Manager or the Collateral
Agent, as applicable, from time to time concurrently or independently as often and in such order as
the Bank, the Manager or the Collateral Agent may deem expedient; <U>provided</U>,
<U>however</U>, that any and all remedies of the Bank and the Manager shall be Limited Recourse
(as defined in the Development and Management Agreement). No failure on the part of the Bank, the
Manager or the Collateral Agent to exercise and no delay in exercising, any power or right
hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any power
or right preclude any other or further exercise thereof of any other power or right.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;7.8 <U>Counterparts</U>. This Agreement may be executed in any number of
counterparts, each of which shall be considered an original but together shall constitute one and
the same instrument.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;7.9 <U>Sovereign Immunity Waiver; Arbitration; Submission to Jurisdiction;</U>
<U>Limitation on Damages</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <U>Manager</U>. This Agreement constitutes a Transaction Document. Unless and until the
Discharge of the First Lien Secured Obligations occurs, and thereafter until a dominion account
agreement to which the Authority and the Manager are parties becomes effective and no further
Collateral is deposited in the Dominion Account established hereby, this Agreement constitutes the
Dominion Account Agreement as defined and referred to in the Development and Management Agreement.
As such and without limiting the scope of such Development and Management Agreement, the provisions
of <U>Sections&nbsp;2.11</U>, <U>10.10</U> and <U>Article&nbsp;11</U> of the Development and Management
Agreement apply to this Agreement and are hereby incorporated by reference, including, without
limitation, the limited sovereign immunity waiver, limitations on recourse and arbitration and
jurisdiction provisions contained therein and the Resolution of Limited Waiver referred to therein.
Such provisions are for the benefit of the Manager and not for the benefit of the Trustee, the
holders of the Senior Notes or the Collateral Agent.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->27<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <U>Indenture</U>. This Agreement constitutes the Notes Dominion Account Agreement as
defined and referred to in the Indenture, and the provisions of such Indenture are hereby
incorporated by reference, including, without limitation, the limited sovereign immunity waiver,
limitations on recourse and arbitration provisions contained therein. Such provisions are for the
benefit of the Trustee and the holders of the Senior Notes and not for the benefit of the Manager.
In addition, the Authority expressly agrees that all limited sovereign immunity waivers,
limitations on recourse and arbitration provisions set forth in the Indenture for the benefit of
the Trustee or any of the First Lien Secured Parties are hereby incorporated by reference and shall
be deemed to apply equally to the Collateral Agent and the Bank to the full extent set forth in the
Indenture.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;7.10 <U>Agreements Control</U>. With respect to the Dominion Account, in the event
of inconsistency (a)&nbsp;between the Development and Management Agreement and this Agreement, this
Agreement shall control or (b)&nbsp;between the Intercreditor and Subordination Agreement and this
Agreement, the Intercreditor and Subordination Agreement shall control; <U>provided</U>,
<U>however</U>, the duties and obligations of the Bank shall be governed solely by this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;7.11 <U>Governing Law</U>. This Agreement shall be governed by, and construed and
enforced in accordance with, the internal law of the State of New York (including the Uniform
Commercial Code, which Uniform Commercial Code shall apply without regard to any provision therein
that would otherwise provide that such Uniform Commercial Code is inapplicable to the Tribe or any
Tribal Party, whether based upon the fact that the Tribe or any Tribal Party is deemed to be a
governmental body or otherwise); except that (i)&nbsp;to the extent that New York law does not recognize
or provide for the creation, attachment, perfection, priority or enforcement of any security
interest granted hereby in any Collateral that is recognized or provided for under the Tribal UCC
Code, then the Tribal UCC Code shall apply thereto so as to give effect to such creation,
attachment, perfection, priority or enforcement, and (ii)&nbsp;to the extent that such Tribal UCC Code
shall under any circumstances otherwise be more favorable to a secured party hereunder than to the
Authority, then under such circumstances and to such extent the Tribal UCC Code shall apply. As
used in this provision, &#147;Tribal Party&#148; shall have the meaning ascribed to such term in the Tribal
UCC Code.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;7.12 <U>Compliance with Intercreditor and Subordination Agreement</U>. The
Collateral Agent and the Manager hereby acknowledge and agree as between themselves that,
notwithstanding anything herein to the contrary, the exercise of any right or remedy by the Manager
hereunder (including, without limitation, its right to give any instructions to the Bank and to
withdraw funds from the Dominion Account) is subject to the provisions of the Intercreditor and
Subordination Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;7.13 <U>Successors and Assigns</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;None of the Authority, the Collateral Agent or the Manager may assign or transfer its
rights or obligations under this Agreement to any other Person without the prior written consent of
the Bank, which consent will not be unreasonably withheld (<U>provided</U>, <U>however</U>, that
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->28<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">no such consent of the Bank will be required if (i)&nbsp;such party provides prompt written notice of
such assignment or transfer to the Bank, (ii)&nbsp;the assignee or transferee is not entitled to any
rights or benefits under this Agreement until it provides evidence in writing reasonably acceptable
to the Bank that such assignee or transferee agrees to be bound by the terms and provisions of this
Agreement, and (iii)&nbsp;such assignment or transfer does not violate applicable laws).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The Bank may not assign or transfer its rights or obligations under this Agreement to any
other Person without the prior written consent of the Manager and the Collateral Agent, which
consent will not be unreasonably withheld (<U>provided</U>, <U>however</U>, that no such consent
of the Manager and the Collateral Agent will be required if such assignment or transfer takes place
as a part of a merger, acquisition or corporate reorganization affecting the Bank).
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&#091;The remainder of this page has been intentionally left blank.&#093;
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->29<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the parties hereto have executed this Agreement, in counterparts, as of
the Effective Date.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="42%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="18%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">&#147;AUTHORITY&#148;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" nowrap>SHINGLE SPRINGS TRIBAL GAMING AUTHORITY</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/S/ Nicholas H. Fonseca</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Name: Nicholas H. Fonseca</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Its: Tribal Chairman</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">And:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/S/ Richard Lawson</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Name: Richard Lawson</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Its: Authority Chairman</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->30<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="42%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="18%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">&#147;BANK&#148;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">WELLS FARGO BANK, N.A.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:</TD>
    <TD colspan="2" align="left" valign="top">/s/ Erna Stuckey</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD  colspan="2" align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap valign="top" align="left">Name:</TD>
    <TD colspan="2" valign="top" align="left">Erna Stuckey</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top" align="left">Its:</TD>
    <TD colspan="2" align="left" valign="top">Vice President</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->31<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="42%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="18%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">&#147;MANAGER&#148;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">LAKES KAR-SHINGLE SPRINGS, LLC</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/S/ Damon E. Schramm</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Name: Damon E. Schramm</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Its: General Counsel</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->32<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="42%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="18%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">&#147;COLLATERAL AGENT&#148;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" nowrap>THE BANK OF NEW YORK TRUST COMPANY, N.A.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:</TD>
    <TD colspan="2" align="left" valign="top">/s/ Kristine E. Brustman</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD colspan="2" align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap valign="top" align="left">Name:</TD>
    <TD colspan="2" align="left" valign="top">Kristine E. Brustman</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top" align="left">Its:</TD>
    <TD colspan="2" align="left" valign="top">Vice President</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->33<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="right" style="font-size: 10pt; margin-top: 12pt">EXHIBIT &#147;A&#148;
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">COMPLIANCE CERTIFICATE
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Dated <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>, 200_
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I, the Chief Financial Officer of the Shingle Springs Tribal Gaming Authority (the
&#147;<U>Authority</U>&#148;), do hereby provide this Compliance Certificate in connection with that certain
Notes Dominion Account Agreement dated June &#091;&#95;&#95;&#95;&#093;, 2007 (the &#147;<U>Dominion Agreement</U>&#148;), by and
between the Authority, the Manager, the Collateral Agent and the Bank (the &#147;<U>Bank</U>&#148;);
capitalized terms used but not otherwise defined herein shall have the meaning set forth in the
Dominion Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I certify that as of the date hereof:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All Enterprise Revenues arising from the operations of the Enterprise from
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>, 200 &#95;&#95;&#95; to <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>, 200 &#95;&#95;&#95; have been deposited into the Dominion
Account with the Bank.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="42%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="18%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">SHINGLE SPRINGS TRIBAL GAMING AUTHORITY</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR style="font-size: 10pt"><TD align="left" valign="top">&nbsp;</TD></TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Its:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->i<!-- /Folio -->
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>c16485exv10w3.htm
<DESCRIPTION>SECURITY AGREEMENT ACKNOWLEDGEMENT
<TEXT>
<HTML>
<HEAD>
<TITLE>exv10w3</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;10.3</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SECURITY AGREEMENT ACKNOWLEDGMENT</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Security Agreement Acknowledgment (this &#147;Acknowledgment&#148;) is dated as of June&nbsp;28, 2007,
by the <B>Shingle Springs Tribal Gaming Authority </B>(&#147;<B>Debtor</B>&#148;), an instrumentality of the Shingle
Springs Band of Miwok Indians, a federally recognized Indian Tribe (the &#147;<B>Tribe</B>&#148;), and Lakes
KAR-Shingle Springs, LLC (&#147;<B>Secured Party</B>&#148;).
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>RECITALS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS</B>, the Tribe executed and delivered that certain Security Agreement in favor of Secured
Party dated October&nbsp;13, 2003 (the &#147;<B>Security Agreement</B>&#148;), pursuant to which the Tribe granted
Secured Party a security interest in the Collateral referred to therein, comprising furnishings and
equipment;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS</B>, the Tribe has provided for the orderly management of the Tribe&#146;s gaming operations by
establishing the Debtor as an unincorporated instrumentality of the Tribe&#146;s tribal government to
conduct the Tribe&#146;s gaming operations, to own the assets of such gaming operations and to have
segregated assets and liabilities from the rest of the Tribe&#146;s tribal government assets and
liabilities;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS</B>, in connection therewith and pursuant to an Assignment and Assumption Agreement dated
as of April&nbsp;20, 2007, by and among the Tribe, Debtor and Secured Party (the &#147;<B>Assignment and
Assumption Agreement</B>&#148;), Debtor assumed obligations of the Tribe under (i)&nbsp;that certain First
Amended and Restated Agreement Regarding Gaming Development and Management Agreement dated October
13, 2003 (as amended by an Amendment dated June&nbsp;16, 2004 and a Second Amendment dated January&nbsp;23,
2007, the &#147;<B>2003 Memorandum Agreement</B>&#148;), (ii)&nbsp;the Interim Promissory Note of the Tribe dated January
23, 2007 payable to the order of Secured Party in a principal amount of up to $60,000,000 (the
&#147;<B>Interim Promissory Note</B>&#148;), (iii)&nbsp;the Operating Note of the Tribe dated October&nbsp;13, 2003 payable to
the order of Secured Party (the &#147;<B>Operating Note</B>&#148;), and (iv)&nbsp;other Transaction Documents (as defined
in the 2003 Memorandum Agreement);
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS</B>, in connection with and pursuant to the Assignment and Assumption Agreement, Debtor
assumed all obligations of the Tribe under and has become bound as a new debtor by the Security
Agreement;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS</B>, Section&nbsp;10 of the Assignment and Assumption Agreement provides that the parties
thereto will execute and deliver such additional documents and take such additional actions as may
be reasonably requested by a party for the purpose of implementing or effectuating the provisions
of the Assignment and Assumption Agreement, and Secured Party has requested that this
Acknowledgment be so executed and delivered;
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS</B>, the Debtor anticipates entering into an equipment financing in an aggregate principal
amount of up to $85,000,000 (the &#147;<B>FF&#038;E Financing</B>&#148;), the proceeds of which will be used solely to
finance the acquisition by the Debtor of, or the entry into a capital lease by the Debtor with
respect to, furniture, furnishings and equipment to be used in the ordinary course of the business
of the Debtor (&#147;<B>FF&#038;E</B>&#148;);
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS</B>, the collateral for the FF&#038;E Financing will consist of FF&#038;E to be purchased
pursuant to and with the proceeds of such FF&#038;E Financing (such collateral being referred to herein
as the &#147;<B>FF&#038;E Collateral</B>&#148;);
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS</B>, the Debtor has requested that Secured Party not claim a security interest in the FF&#038;E
Collateral until such time as such FF&#038;E Financing shall have been paid in full or otherwise
discharged or defeased or until such time as the FF&#038;E Collateral shall no longer secure the FF&#038;E
Financing; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, Debtor and Secured Party have executed and delivered a Third Amendment dated as of
May&nbsp;17, 2007 (the &#147;<B>Third Amendment</B>&#148;) to the 2003 Memorandum Agreement (the 2003 Memorandum
Agreement, as amended by such Third Amendment and as the same may from time to time hereafter be
further amended, being herein referred to as the &#147;<B>Amended Memorandum Agreement</B>&#148;);
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>NOW, THEREFORE</B>, in consideration of the above recitals and the mutual covenants hereinafter
set forth, the parties hereto agree as follows:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;<U>Acknowledgments</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Capitalized terms used herein and not otherwise defined herein, as well as capitalized
terms used in the Security Agreement and not otherwise defined therein, shall have the meanings
ascribed to such terms in the Amended Memorandum Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Debtor confirms each acknowledgment and agreement set forth in Section&nbsp;5 of the Assignment
and Assumption Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Without limiting the generality of the foregoing, Debtor hereby confirms (i)&nbsp;that the
Security Agreement is binding upon Debtor as the Debtor thereunder, as if Debtor had originally
been a party thereto, and (ii)&nbsp;that the Secured Obligations (as defined in the Security Agreement)
include the obligations of the Debtor under the Amended Memorandum Agreement, other obligations
assumed by the Debtor pursuant to the Assignment and Assumption Agreement (including, without
limitation, obligations under the Interim Promissory Note and the Operating Note, Debtor&#146;s
assumption of which Debtor also hereby confirms), and such obligations as remain obligations of the
Tribe in accordance with the provisions of the Assignment and Assumption Agreement. Debtor
confirms that the Security Agreement constitutes a Transaction Document (as defined in the Amended
Memorandum Agreement).
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;Debtor further makes and confirms, as of the date hereof, all representations and
warranties of the Debtor set forth in the Security Agreement (except, with respect to the
representation and warranty set forth in Section 4(f) of the Security Agreement, the appropriate
address of Debtor is the address referred to in Section&nbsp;3 below).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;Debtor acknowledges that, with respect to the Interim Promissory Note, such Interim
Promissory Note evidences the aggregate unpaid principal amount of advances under the Transition
Loan (as defined in the Amended Memorandum Agreement) not to exceed $60,000,000, together with
interest thereon as provided therein, including without limitation any such accrued interest as may
hereafter be capitalized (whether or not, if the capitalization of such interest is deemed to be a
principal advance, the aggregate amount of principal advances exceeds $60,000,000).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;<U>Certain References</U>. Debtor acknowledges and confirms that, as used in the Security
Agreement (a) &#147;Enterprise,&#148; and all defined terms incorporated in the definition of such term,
shall have the meanings ascribed to such terms in the Amended Memorandum Agreement, (b) &#147;Gaming
Site&#148; shall refer to the Tribal Lands (as defined in the Amended Memorandum Agreement) located in
El Dorado County, California, used as the site for operating and constructing the Facility (as
defined in the Security Agreement) and the Enterprise, and (c) &#147;Amended Memorandum Agreement&#148; shall
refer to the Amended Memorandum Agreement. The reference in Section 5(a) of the Security Agreement
to &#147;Gaming Enterprise Site&#148; shall be deemed to refer to &#147;Gaming Site.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;<U>Notice Addresses</U>. Notice addresses for Debtor and Secured Party shall be the same
as those provided in the Amended Memorandum Agreement for such parties.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;<U>FF&#038;E Collateral</U>. Secured Party hereby agrees that, notwithstanding anything in the
Security Agreement to the contrary, no security interest granted by the Debtor to Secured Party
pursuant to the Security Agreement shall attach to the FF&#038;E Collateral unless and until (i)&nbsp;the
FF&#038;E Financing (and any renewal, refunding, replacement or refinancing thereof) shall be paid in
full or otherwise discharged or defeased, or (ii)&nbsp;with respect to any item of FF&#038;E Collateral, such
item otherwise shall be released and no longer constitute FF&#038;E Collateral.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;<U>Governing Law</U>. This Acknowledgment and the Security Agreement shall be governed
by, and construed and enforced in accordance with, the internal laws of the State of California
(including the UCC, which UCC shall apply without regard to any provision therein that would
otherwise provide that such UCC is inapplicable to the Tribe or any Tribal Party, whether based
upon the fact that the Tribe or any Tribal Party is deemed to be a governmental body or otherwise);
except that (i)&nbsp;to the extent that California law does not recognize or provide for the creation,
attachment, perfection, priority or enforcement of the security interest granted by the Security
Agreement in any Collateral (as defined in the Security Agreement) that is recognized or provided
for under the Tribal UCC, then the Tribal UCC shall apply thereto so as to give effect to such
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">creation, attachment, perfection, priority or enforcement, and (ii)&nbsp;to the extent that such Tribal
UCC shall under any circumstances otherwise be more favorable to Secured Party than to Debtor, then
under such circumstances and to such extent the Tribal UCC shall apply. As used in this provision,
&#147;<B>Tribal Party</B>&#148; has the meaning ascribed to such term in the Tribal UCC, &#147;<B>Tribal UCC</B>&#148; means the
Tribe&#146;s Secured Transactions Ordinance, and &#147;<B>UCC</B>&#148; has the meaning ascribed to such term in the
Security Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;<U>Counterparts</U>. This Acknowledgment may be executed in any number of counterparts
and by facsimile, each of which when so executed and delivered shall be deemed an original, but all
of which shall together constitute one and the same agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;<U>Dispute Resolution; Limited Waiver of Sovereign Immunity</U>. Any dispute in
connection with this Acknowledgment shall be subject to the dispute resolution procedures and
limited waiver of sovereign immunity contained in the Amended Memorandum Agreement and the
Resolution of Limited Waiver (as defined in the Amended Memorandum Agreement), the terms of which
are incorporated by reference herein.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the parties hereto have caused this Acknowledgment to be duly executed and
delivered under seal by their respective duly authorized officers as of the date first above
written.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="42%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="18%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">DEBTOR:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" nowrap>SHINGLE SPRINGS TRIBAL GAMING AUTHORITY</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/S/ Nicholas H. Fonseca</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Name: Nicholas H. Fonseca</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Title: Chairman, Tribal Counsel</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">And:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/S/ Richard Lawson</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Name: Richard Lawson</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Title: Chairman</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">SECURED PARTY:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">LAKES KAR-SHINGLE SPRINGS, LLC</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/S/ Damon E. Schramm</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 0px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Name: Damon E. Schramm</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Title: General Counsel</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->5<!-- /Folio -->
</DIV>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>c16485exv10w4.htm
<DESCRIPTION>INTERCREDITOR AND SUBORDINATION AGREEMENT
<TEXT>
<HTML>
<HEAD>
<TITLE>exv10w4</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;10.4</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>INTERCREDITOR AND SUBORDINATION AGREEMENT</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">dated as of June&nbsp;28, 2007

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">among

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>THE BANK OF NEW YORK TRUST COMPANY, N.A.,</B><BR>
as Trustee under the Indenture

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>LAKES KAR-SHINGLE SPRINGS, LLC,</B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">and

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>THE BANK OF NEW YORK TRUST COMPANY, N.A.,</B><BR>
as Collateral Agent

</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">TABLE OF CONTENTS
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Page</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">1. Definitions and General Provisions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">1.1 Definitions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">1.2 Interpretation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">2. Deferral and Subordination of Lakes Obligations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">2.1 Deferral and Accrual of Lakes Obligations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">2.2 &#091;Intentionally Omitted&#093;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">2.3 Subordination to First Lien Secured Obligations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">2.4 Default on First Lien Secured Obligations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">2.5 Deferral Not a Default</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">2.6 Continuing Subordination</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">2.7 Subordination of the Lakes Obligations upon Insolvency or Liquidation Proceeding</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">2.8 &#091;Intentionally Omitted&#093;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">2.9 Judgment Liens</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">2.10 When Proceeds Must be Paid Over</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">2.11 Subrogation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">3. Collateral Agent</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">3.1 Appointment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">3.2 Nature of Duties</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">3.3 Lack of Reliance on the Collateral Agent</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">3.4 Certain Rights of the Collateral Agent; <I>Pari Passu </I>in Priority of Liens; Separate Collateral</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">3.5 Reliance</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">3.6 Indemnification</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">3.7 Collateral Agent in its Individual Capacity</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">3.8 Holders</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">3.9 Resignation and Removal of the Collateral Agent</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">4. Collateral, Priority, Subordination and Release of Liens</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">4.1 Liens and Security Interests</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">4.2 Separate Collateral</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">4.3 Confirmation of Liens</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">4.4 Releases</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">5. Rights and Limitation of Actions With Respect to Collateral</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">5.1 Rights and Limitations Applicable to Second Lien Secured Parties</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">5.2 Rights and Limitations Applicable to the First Lien Secured Parties</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">5.3 Notification of Events of Default</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>


<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Page</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">5.4 Certain Waivers by Second Lien Secured Parties</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">5.5 Agent for Perfection</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">5.6 When Proceeds Must be Paid Over</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">6. Rights and Limitations with Respect to Amendments, Waivers and Other Actions Under Facility Agreements</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">6.1 Rights and Limitations Applicable to Second Lien Secured Parties</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">6.2 Rights and Limitations Applicable to the First Lien Secured Parties</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">6.3 Limitation of Liability</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">7. Insolvency or Liquidation Proceedings</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">7.1 Right to File Involuntary Bankruptcy</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">7.2 Certain Agreements and Consents by Second Lien Secured Parties</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">8. Application of Proceeds of Shared Collateral</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">31</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">8.1 Application of Proceeds Generally</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">31</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">8.2 Certain Terms</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">34</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">8.3 Sharing of Non-Pro Rata Payments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">34</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">8.4 Overpayments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">35</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">8.5 Payment to Class&nbsp;Representatives</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">35</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">9. Representations and Warranties</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">35</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">9.1 Organization</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">35</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">9.2 Authorization</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">35</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">9.3 Binding Agreement</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">35</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">9.4 No Consent Required</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">35</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">9.5 No Conflict</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">36</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">9.6 Jury Trial Waiver</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">36</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">10. Miscellaneous Provisions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">36</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">10.1 Notices; Addresses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">36</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">10.2 Further Assurances</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">38</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">10.3 Waiver</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">38</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">10.4 Entire Agreement</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">38</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">10.5 Governing Law</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">38</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">10.6 Severability</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">38</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">10.7 Headings</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">38</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">10.8 Limitations on Liability</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">38</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">10.9 Consent of Jurisdiction, Waiver of Immunity</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">39</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">10.10 Successors and Assigns</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">39</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">10.11 Counterparts</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">39</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">10.12 No Third Party Beneficiaries</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">39</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">10.13 Co-Collateral Agents; Separate Collateral Agents</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">40</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->ii<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Page</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">10.14 Amendments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">41</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">10.15 Additional Secured Parties</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">41</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">10.16 Legends</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">42</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">10.17 Trust Indenture Act</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">42</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">10.18 Reinstatement</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">42</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">10.19 Attorneys&#146; Fees</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">43</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->iii<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Intercreditor and Subordination Agreement (this &#147;<B><I>Agreement</I></B>&#148;) is dated as of June
28, 2007 and is by and among The Bank of New York Trust Company, N.A., as 2015 Notes Indenture
Trustee (the &#147;<B><I>2015 Notes Indenture Trustee</I></B>&#148;), Lakes KAR-Shingle Springs, LLC, a Delaware limited
liability company (&#147;<B><I>Lakes</I></B>&#148;), and The Bank of New York Trust Company, N.A., as Collateral Agent.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>RECITALS:</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>A. Project</B>. The Shingle Springs Tribal Gaming Authority (the &#147;<B><I>Borrower</I></B>&#148;), a wholly-owned
unincorporated instrumentality of the Shingle Springs Band of Miwok Indians, a federally recognized
Indian tribe (the &#147;<B><I>Tribe</I></B>&#148;), is constructing and plans to develop and operate The Foothill Oaks
Casino, a casino complex with related ancillary facilities (the &#147;<B><I>Project</I></B>&#148;), located in El Dorado
County, California.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>B. Development and Management Agreement</B>. Lakes and the Tribe entered into that certain First
Amended and Restated Memorandum of Agreement Regarding Gaming Development and Management Agreement,
dated as of October&nbsp;13, 2003 (as amended by an Amendment dated June&nbsp;16, 2004, a Second Amendment
dated January&nbsp;23, 2007, and a Third Amendment dated as of May&nbsp;17, 2007, and as further amended from
time to time, and as subject to the Assignment and Assumption Agreement referred to below, the
&#147;<B><I>Development and Management Agreement</I></B>&#148;), pursuant to and in connection with which Lakes is entitled
to receive a management fee in consideration of its services relating to the management and
operation of the Project and certain indemnification and other payments (the &#147;<B><I>Development and
Management Agreement Obligations</I></B>&#148;) and pursuant to which Lakes advanced (or has committed to
advance) borrowings under the Lakes Notes for the purposes described in the Development and
Management Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>D. Assignment and Assumption Agreement</B>. Pursuant to an Assignment and Assumption Agreement,
dated as of April&nbsp;20, 2007 (the &#147;<B><I>Assignment and Assumption Agreement</I></B>&#148;), the Tribe assigned, and the
Borrower assumed, the rights and obligations of the Tribe under the Development and Management
Agreement, the Lakes Notes and other Transaction Documents.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>E. Lakes Agreement to Subordinate. </B>Lakes has agreed to subordinate its rights with respect to
the Lakes Notes and its right to receive management compensation pursuant to the Development and
Management Agreement to the 2015 Notes Indenture Trustee, Collateral Agent and any other
third-party lender or equipment lessors.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>F. 2015 Notes Indenture</B>. Concurrently herewith, the Borrower and the 2015 Notes Indenture
Trustee have entered into an Indenture (as in effect on the date hereof, the &#147;<B><I>2015 Notes
Indenture</I></B>&#148;), pursuant to which the Borrower will issue the 2015 Notes, as more particularly
described therein.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>G. Collateral</B>. In addition to certain other collateral and security interests, the 2015 Notes
Indenture Trustee and Lakes intend that (i)&nbsp;the 2015 Notes be secured by a first priority Lien on
the 2015 Notes Separate Collateral, the First Lien Shared Collateral and the Shared Collateral,
(ii)&nbsp;the First Lien Secured Obligations be secured by a first priority Lien on
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">the First Lien Shared Collateral and the Shared Collateral and (iii)&nbsp;the Lakes Secured
Obligations be secured by a second priority Lien on the Shared Collateral, all as more particularly
described in <U>Section&nbsp;3</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>H. Disbursement Agreement</B>. The Borrower, the 2015 Notes Indenture Trustee, Rider Levett
Bucknall Ltd., as the independent construction consultant, Lakes and the Disbursement Agent have
entered into the Cash Collateral and Disbursement Agreement as of even date herewith (as amended,
amended and restated, supplemented or otherwise modified from time to time, the &#147;<B><I>Disbursement
Agreement</I></B>&#148;), in order to set forth, among other things, (i)&nbsp;the mechanics for and allocation of the
Borrower&#146;s request for advances under the 2015 Notes and (ii)&nbsp;the conditions precedent to the
Closing Date, to the initial advance and to subsequent advances.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>I. Intercreditor and Subordination Agreement</B>. The parties hereto desire to enter into this
Agreement in order to (i)&nbsp;appoint the Collateral Agent as the agent for the First Lien Secured
Parties to receive, maintain, administer, enforce and distribute the Shared Collateral and the
First Lien Shared Collateral as provided herein and therein, (ii)&nbsp;set forth certain provisions
relating to the Secured Parties&#146; respective rights in the Collateral, the exercise of remedies upon
the occurrence of an event of default, the application of proceeds of enforcement and certain other
matters and (iii)&nbsp;set forth certain provisions relating to the subordination of the Lakes
Obligations and certain other matters with respect thereto.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>NOW, THEREFORE</B>, with reference to the foregoing recitals and in reliance thereon, and for
other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,
the parties hereto agree as follows:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>1.&nbsp;Definitions and General Provisions.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>1.1 Definitions</B>. The following terms have the meanings set forth below:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>2015 Noteholders</B>&#148; means the holders, from time to time, of the 2015 Notes.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>2015 Notes</B>&#148; means all notes issued by the Borrower pursuant to the 2015 Notes Indenture,
whether on or after the Closing Date.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>2015 Notes Indenture</B>&#148; has the meaning given in the recitals hereto.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>2015 Notes Indenture Trustee</B>&#148; has the meaning given in the preamble hereto.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>2015 Notes Secured Obligations</B>&#148; means all Obligations of the Borrower to, or for the benefit
of, the 2015 Notes Indenture Trustee or the 2015 Noteholders under the 2015 Notes Indenture, the
2015 Notes, the First Lien Security Documents and any other agreement, document or instrument
entered into or delivered by the Borrower on, prior to, or after the date of the 2015 Notes
Indenture with or to or for the benefit of the Collateral Agent, the 2015 Notes Indenture Trustee
or the 2015 Noteholders in connection with the financing of the Project.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>2015 Notes Separate Collateral</B>&#148; means the Construction Disbursement Account, the Litigation
Account, the Authority&#146;s Payment Account, the Interest Reserve Account
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">and the Interchange Escrow
Account, each as defined in the Disbursement Agreement, the Borrower&#146;s interests in the Interchange
Escrow Agreement (as defined in the Disbursement Agreement) and any other property or assets of the
Borrower (including, but not limited to net proceeds received from asset sales and insurance and
condemnation events) which has been pledged to secure the 2015 Notes Secured Obligations but not
the Lakes Secured Obligations or Obligations under any Permitted Additional Senior Secured Debt
Agreement, Permitted Additional Junior Secured Debt Agreement or the Second Lien Secured
Obligations; <U><I>provided</I></U> that, in no event shall such collateral include FF&#038;E Collateral so
long as any FF&#038;E Financing secured by such FF&#038;E Collateral is outstanding<B>.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Agreement</B>&#148; has the meaning given in the preamble hereto.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Asset Sale</B>&#148; has the meaning assigned to that term in the 2015 Notes Indenture.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Assignment and Assumption Agreement</B>&#148; has the meaning given in the recitals hereto.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Bankruptcy Law</B>&#148; means Title 11 of the United States Code entitled &#147;Bankruptcy,&#148; as now and
hereafter in effect, or any successor statute, and any other state or federal insolvency,
reorganization, moratorium or similar law for the relief of debtors now or hereafter in effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Borrower</B>&#148; has the meaning given in the recitals hereto.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Business Day&#148; </B>has the meaning assigned to that term in the 2015 Notes Indenture.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Class</B>&#148; shall mean each class of Secured Parties, <U>i.e.</U>, (a)&nbsp;the 2015 Noteholders as
holders of the 2015 Notes Secured Obligations shall constitute a &#147;Class&#148; and (b)&nbsp;Lakes, as lender
under the Lakes Secured Obligations, shall constitute a &#147;Class&#148;.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Collateral</B>&#148; means the following unique and separate categories of property encumbered to
secure the Obligations to any of the Secured Parties: (a)&nbsp;the Shared Collateral, (b)&nbsp;the 2015 Notes
Separate Collateral and (c)&nbsp;the First Lien Shared Collateral.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Closing Date&#148; </B>means June&nbsp;28, 2007.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Collateral Agent</B>&#148; means The Bank of New York Trust Company, N.A. in its capacity as
collateral agent for the benefit of the First Lien Secured Parties, and any other First Lien
Secured Party that from time to time becomes a party hereto in accordance with <U>Section
10.15</U>, as appointed in the first sentence of <U>Section&nbsp;3.1</U> (together with its successors
and assigns and any replacement collateral agent appointed pursuant to the terms hereof).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Development and Management Agreement</B>&#148; has the meaning given in the recitals hereto.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Development and Management Agreement Obligations</B>&#148; has the meaning given in the recitals
hereto.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>DIP Financing</B>&#148; has the meaning given in <U>Section&nbsp;7.2.7</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Disbursement Agent</B>&#148; has the meaning assigned to that term in the Disbursement Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Disbursement Agreement</B>&#148; has the meaning given in the recitals hereto.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Discharge</B>&#148; means (a)&nbsp;in respect of the 2015 Notes, the satisfaction and discharge (pursuant
to <U>Article&nbsp;12</U> of the 2015 Notes Indenture), defeasance (pursuant to Article&nbsp;8 of the 2015
Notes Indenture) or other satisfaction in cash in full of the 2015 Notes Secured Obligations, (b)
in respect of the Lakes Secured Obligations, payment in full in cash of the principal of and
interest and premium (if any) on all Lakes Secured Obligations and the termination of all
commitments to extend credit under the Second Lien Documents related to the Lakes Secured
Obligations, (c)&nbsp;in respect of any other Class of Secured Obligations, the termination of all
commitments to extend credit under such Class of Secured Obligations, the discharge, defeasance or
payment in full in cash of the principal of and interest and premium (if any) on all such Secured
Obligations, the termination, cancellation, expiration or cash collateralization of all letters of
credit, if any, issued under any Facility Agreements and the discharge, defeasance or payment in
full in cash of all other Secured Obligations of such Class that are unpaid at the time the
principal and interest are paid in full in cash, discharged or defeased.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Event of Default</B>&#148; means, as the context requires, the occurrence and continuance of an &#147;Event
of Default&#148; (or comparable term) by or with respect to the Borrower under the applicable Facility
Agreement that has not been waived by the applicable Project Credit Party (it being understood that
the provisions of <U>Section&nbsp;1.2</U> shall not apply to any such waiver).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Facility Agreements</B>&#148; means, collectively, the 2015 Notes Indenture, each Lakes Note, the
Development and Management Agreement and each other Lakes Transaction Document, each Permitted
Additional Senior Secured Debt Agreement and each Permitted Additional Junior Secured Debt
Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;FF&#038;E&#148; </B>means furniture, furnishings or equipment used in the ordinary course of the business
of the Borrower.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;FF&#038;E Collateral&#148; </B>means collateral consisting of FF&#038;E purchased pursuant to, with the proceeds
of and securing any FF&#038;E Financing permitted pursuant to the terms of the 2015 Notes Indenture.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;FF&#038;E Financing&#148; </B>means Indebtedness the proceeds of which are used solely to finance the
acquisition by the Borrower of, or the entry into a capital lease by the Borrower with respect to,
FF&#038;E (<U><I>provided</I></U> that neither such acquisition nor any such capital lease shall be required
to be completed or entered into at the time of incurrence of such Indebtedness), in each case as
amended, restated, modified, renewed, refunded, replaced (whether upon or after
termination or otherwise) or refinanced in whole or in part from time to time.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>First Lien Documents</B>&#148; means, collectively, the 2015 Notes Indenture, the 2015

<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Notes, each
Permitted Additional Senior Secured Debt Agreement, the First Lien Security Documents, and all
other agreements governing, securing or setting forth the terms of any First Lien Secured
Obligations.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>First Lien Secured Obligations</B>&#148; means, collectively, (a)&nbsp;the 2015 Notes Secured Obligations
and (b)&nbsp;Obligations of the Borrower under any Permitted Additional Senior Secured Debt Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>First Lien Secured Parties</B>&#148; means, collectively, the holders of First Lien Secured
Obligations, the 2015 Notes Indenture Trustee, the Collateral Agent and the holders or
representatives for the holders of any Indebtedness under any Permitted Additional Senior Secured
Debt Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>First Lien Security Documents</B>&#148; means, collectively, the Security Agreement, the Notes
Dominion Account Agreement and any guaranties, deeds of trust, security agreements or collateral
account agreements or any other document creating or perfecting a lien, security interest or other
preferential arrangement, and any related documents executed, filed, recorded or delivered from
time to time by the Borrower in favor of the Collateral Agent to secure the First Lien Secured
Obligations.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>First Lien Shared Collateral</B>&#148; means all properties and assets of the Borrower now owned or
hereafter acquired with respect to which the First Lien Secured Parties are granted as security for
any First Lien Secured Obligations but not the Second Lien Secured Obligations or Obligations under
any Permitted Additional Junior Secured Debt Agreement; <U><I>provided</I></U> that, in no event shall
such collateral include FF&#038;E Collateral so long as any FF&#038;E Financing secured by such FF&#038;E
Collateral is outstanding.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Indebtedness&#148; </B>means, with respect to any specified Person, any indebtedness of such Person
(excluding accrued expenses and trade payables), whether or not contingent:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in respect of borrowed money;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) evidenced by bonds, notes, debentures or similar instruments or letters of credit
(or reimbursement agreements in respect thereof);
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) in respect of banker&#146;s acceptances;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) representing Capital Lease Obligations (as defined in the 2015 Notes Indenture) or
Attributable Debt (as defined in the 2015 Notes Indenture) in respect of sale and leaseback
transactions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Insolvency or Liquidation Proceeding</B>&#148; means (a)&nbsp;any case commenced by or against the Borrower
under any Bankruptcy Law, any other proceeding for the reorganization, recapitalization or
adjustment or marshalling of the assets or liabilities of the Borrower, any receivership or
assignment for the benefit of creditors relating to the Borrower or any similar
case or proceeding relative to the Borrower or its creditors, as such, in each case whether or
not voluntary; (b)&nbsp;any liquidation, dissolution, marshalling of assets or liabilities or other
winding up of or relating to the Borrower, in each case whether or not
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->5<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">voluntary and whether or not
involving bankruptcy or insolvency; or (c)&nbsp;any other proceeding of any type or nature in which
substantially all claims of creditors of the Borrower are determined and any payment or
distribution is or may be made on account of such claims.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Joinder Agreement</B>&#148; has the meaning given in <U>Section&nbsp;10.15</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Lakes&#148; </B>has the meaning given in the preamble hereto.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Lakes Dominion Account&#148; </B>shall mean, collectively, the accounts established pursuant to the
Lakes Dominion Account Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Lakes Dominion Account Agreement&#148; </B>shall mean the Dominion Account Agreement, dated as of June
28, 2007 (as amended, restated, amended and restated, or modified from time to time), between the
Borrower, Lakes, and Wells Fargo Bank, N.A.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Lakes Notes</B>&#148; shall mean the Interim Promissory Note and the Operating Note, each as defined
in the Development and Management Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Lakes Obligations</B>&#148; means the Lakes Secured Obligations and any present or future Obligations
of the Borrower to or for the benefit of Lakes or any of its affiliates incurred by the Borrower
permitted by the 2015 Notes Indenture, as each may be refinanced, assumed, transferred or replaced
in accordance with the 2015 Notes Indenture.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Lakes Secured Obligations</B>&#148; means all Obligations of the Borrower to or for the benefit of
Lakes or any of its affiliates under the Lakes Notes and the Second Lien Security Documents related
thereto, together with the Development and Management Agreement Obligations and all other
obligations and liabilities of the Borrower or the Tribe to or for the benefit of Lakes or any of
its affiliates under the Development and Management Agreement or<U> </U>any other Lakes
Transaction Documents, as each may be refinanced, assumed, transferred or replaced in accordance
with the 2015 Notes Indenture.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Lakes Transaction Documents</B>&#148; means the Development and Management Agreement, the Lakes Notes
and the other Transaction Documents, each as from time to time amended as permitted by the 2015
Notes Indenture.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Lien</B>&#148; means, with respect to any asset, any mortgage, lien, pledge, charge, security interest
or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise
perfected under applicable law.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Net Loss Proceeds</B>&#148; has the meaning given to that term in the 2015 Notes Indenture.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Net Proceeds</B>&#148; has the meaning given to that term in the 2015 Notes Indenture.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Notes Dominion Account&#148; </B>shall mean, collectively, the accounts established
pursuant to the Notes Dominion Account Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Notes Dominion Account Agreement&#148; </B>shall mean the Notes Dominion

<P align="center" style="font-size: 10pt"><!-- Folio -->6<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Account Agreement, dated as
of June&nbsp;28, 2007 (as amended, restated, amended and restated, or modified from time to time),
between the Borrower, Lakes, Collateral Agent, and Wells Fargo Bank, N.A.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Obligations&#148; </B>means any principal (including reimbursement obligations with respect to letters
of credit whether or not drawn), interest (including, to the extent legally permitted, all interest
accrued thereon after the commencement of any Insolvency or Liquidation Proceeding at the rate,
including without limitation any applicable post-default rate, specified in the First Lien
Documents or the Second Lien Documents (as the case may be), even if such interest is not
enforceable, allowable or allowed as a claim in such proceeding), premium (if any), fees,
indemnifications, reimbursements, expenses and other liabilities payable under the documentation
governing the 2015 Notes, the Lakes Notes, any other Indebtedness or the Development and Management
Agreement Obligations.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Permitted Additional Junior Secured Debt Agreement</B>&#148; shall mean one or more agreements
evidencing secured Indebtedness with, or guaranteed by, the Borrower, <U><I>provided</I></U> that (a)
such agreement is permitted to be entered into and secured with a second Lien on the Shared
Collateral pursuant to the First Lien Documents and the Second Lien Documents, (b)&nbsp;the provider of
such Indebtedness becomes a party to this Agreement and agrees to be bound by and comply with all
of the terms and provisions hereof and (c)&nbsp;if such agreements are entered into on or before the
Discharge of the Lakes Secured Obligations, the holders of the Lakes Secured Obligations consent in
writing prior to the incurrence by the Borrower of such Indebtedness.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Permitted Additional Senior Secured Debt Agreement</B>&#148; shall mean one or more agreements
evidencing Indebtedness with, or guaranteed by, the Borrower that is permitted by <U>Section
4.08</U> of the 2015 Notes Indenture and secured by Liens described in clause (2)&nbsp;of the definition
of &#147;Permitted Liens&#148; under the 2015 Notes Indenture; <I>provided </I>that the provider of any such
Indebtedness becomes a party to this Agreement and agrees to be bound by and comply with all of the
terms and provisions hereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Person&#148; </B>shall mean any individual, corporation, partnership, joint venture, association,
joint-stock company, trust, unincorporated organization, limited liability company, tribe or
government (including any agency, component or political subdivision thereof) or other entity.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Primary Obligations</B>&#148; has the meaning given in <U>Section&nbsp;8.2</U>.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->7<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Pro Rata Payments</B>&#148; means:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) with respect to any amount paid to a First Lien Secured Party on a given date other
than pursuant to <U>Sections&nbsp;4.09</U> and <U>4.10</U> of the 2015 Notes Indenture, that
the ratio of such payment to the total payments made to all First Lien Secured Parties on
such date is the same as the ratio of (i)&nbsp;the total principal amount of First Lien Secured
Obligations outstanding with respect to such First Lien Secured Party to (ii)&nbsp;the total
principal amount of First Lien Secured Obligations outstanding with respect to all First
Lien Secured Parties; <U><I>provided</I></U>, <U><I>however</I></U>, that reimbursement obligations for
outstanding Letters of Credit that are secured by a Lien on the Shared Collateral ranking
pari passu with the Liens securing the First Lien Secured Obligations shall be considered
outstanding First Lien Secured Obligations; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) with respect to any amount paid to a First Lien Secured Party on a given date in
connection with <U>Sections&nbsp;4.09</U> or <U>4.10</U> of the 2015 Notes Indenture, that such
payment has been allocated or offered among the First Lien Secured obligations in accordance
with such section of the 2015 Notes Indenture.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Pro Rata Share</B>&#148; has the meaning given in <U>Section&nbsp;8.2</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Project</B>&#148; has the meaning given in the recitals hereto.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Project Credit Parties</B>&#148; means the 2015 Notes Indenture Trustee, Lakes and any other Persons
that from time to time become parties hereto in accordance with <U>Section&nbsp;10.15</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Required First Lien Secured Parties</B>&#148; means, at any time, the holders or representatives of
holders of more than Fifty percent (50%) of the sum of:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the aggregate outstanding principal amount of First Lien Secured Obligations
(including outstanding letters of credit issued by the holders of the First Lien Secured
Obligations whether or not then available or drawn); and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) other than in connection with the exercise of remedies, the aggregate unfunded
commitments to extend credit which, when funded, would constitute First Lien Secured
Obligations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Required Secured Parties</B>&#148; shall mean:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) for purposes of causing the Collateral Agent to commence enforcement proceedings
against the Shared Collateral or the First Lien Shared Collateral pursuant to the First Lien
Documents, at any time that an Event of Default has occurred and is continuing under any
First Lien Documents, then the Required First Lien Secured Parties shall constitute the
&#147;Required Secured Parties&#148; for purposes of causing the Collateral Agent to commence
enforcement proceedings pursuant to the First Lien Documents;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) for purposes of commencing enforcement proceedings against the 2015 Notes Separate
Collateral, the 2015 Notes Indenture Trustee shall constitute the &#147;Required Secured
Parties&#148;;
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->8<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) for purposes of directing the manner and method of enforcement proceedings, once
commenced in accordance with clause (a)&nbsp;and (b)&nbsp;above, the Collateral Agent shall make all
decisions that it deems appropriate to diligently prosecute and complete such proceedings
unless instructed to do otherwise by the Required First Lien Secured Parties.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) for purposes of amending, modifying, varying or waiving any provisions of the First
Lien Security Documents with respect to Shared Collateral (other than the Note Dominion
Account Agreement) or the First Lien Shared Collateral (including any event of default
thereunder), the Required First Lien Secured Parties shall constitute the &#147;Required Secured
Parties&#148; entitled to amend, modify, vary or waive any provision of such First Lien Security
Documents (without the consent of any other Project Credit Party), and any such amendment,
modification, variance or waiver shall be effective with respect to, and shall automatically
apply to the corresponding provisions of, any Security Document entered into with respect to
any Permitted Additional Senior Secured Debt Agreement; <U><I>provided</I></U>, <U><I>however</I></U>,
that any Event of Default occurring by reason of a Event of Default under the 2015 Notes
Indenture or a Permitted Additional Senior Secured Debt Agreement may only be waived by the
2015 Notes Indenture Trustee or the representative under such Permitted Additional Senior
Secured Debt Agreement, as the case may be, in each case, acting in such capacity;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) For purposes of adjusting settlement of all insurance claims and condemnation
awards in the event of any covered loss, theft or destruction or condemnation of any Shared
Collateral or any First Lien Shared Collateral, and all claims under insurance constituting
Shared Collateral or First Lien Shared Collateral, the Required First Lien Secured Parties
shall constitute the &#147;Required Secured Parties&#148;; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Notwithstanding clauses (a)&nbsp;through (e)&nbsp;above, if at the time of an action by the
Required Secured Parties all First Lien Secured Obligations have been Discharged, then the
Required Secured Creditors at such time shall be the representatives of each Class of any
Second Lien Secured Obligations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Second Lien Documents</B>&#148; means, (a)&nbsp;with respect to Lakes, the Lakes Transaction Documents and
the Second Lien Security Documents related thereto and (b)&nbsp;with respect to the other Second Lien
Secured Parties, any Permitted Additional Junior Secured Debt Agreements, the Second Lien Security
Documents related thereto, and all other agreements governing or securing the Second Lien Secured
Obligations entered into or delivered by the Borrower on, prior to, or after the Closing Date in
connection with any of the foregoing.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Second Lien Secured Obligations</B>&#148; means all Obligations of the Borrower under the Second Lien
Security Documents (including, for the avoidance of doubt, the Development and Management Agreement
Obligations and the other Lakes Secured Obligations).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Second Lien Secured Parties</B>&#148; means, collectively, the holders of the Second Lien Secured
Obligations, and any representative for the holders of Indebtedness under any Permitted Additional
Junior Secured Debt Agreement (including any assignee of, or other

<P align="center" style="font-size: 10pt"><!-- Folio -->9<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">successor to, Lakes under the Lakes Secured Obligations).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Second Lien Security Documents</B>&#148; means, collectively, the Lakes Dominion Account Agreement,
the Notes Dominion Account Agreement, the Lakes Security Agreement (as defined in the 2015 Notes
Indenture), any guaranties, deeds of trust, security agreements, pledge agreements, collateral
agency agreements, or collateral account agreements or any other document creating or perfecting a
Lien, security interest or other preferential arrangement, and any related documents executed,
filed, recorded or delivered from time to time by the Borrower in respect of any Second Lien
Secured Obligations.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Secondary Obligations</B>&#148; has the meaning given in <U>Section&nbsp;8.2</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Secured Obligations</B>&#148; means, without duplication, any or all of the First Lien Secured
Obligations and/or the Second Lien Secured Obligations, as the context requires.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Secured Parties</B>&#148; means, collectively, the First Lien Secured Parties and the Second Lien
Secured Parties.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Securities Intermediary</B>&#148; means any entity acting in its capacity as securities intermediary
under any deposit or securities account agreements.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Security Documents</B>&#148; means, collectively, the First Lien Security Documents and the Second
Lien Security Documents.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Shared Collateral</B>&#148; means all real and personal property encumbered to secure more than one
Class of Secured Obligations including, but not limited to, the Notes Dominion Account;
<U><I>provided</I></U> that &#147;Shared Collateral&#148; shall exclude (a)&nbsp;the 2015 Notes Separate Collateral, (b)
the First Lien Shared Collateral, (c)&nbsp;after the release of all or any portion of the Shared
Collateral in accordance with the 2015 Notes Indenture and the terms of this Agreement, such
released Collateral (which, under such circumstances, may continue to secure the Second Lien
Secured Obligations) or (d)&nbsp;the FF&#038;E Collateral so long as any FF&#038;E Financing secured by such FF&#038;E
Collateral is outstanding.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&#147;Transaction Documents&#148; </B>has the meaning given in the Development and Management Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Tribe</B>&#148; has the meaning given in the recitals hereto.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>1.2 Interpretation</B>. To the extent that reference is made in this Agreement to any term defined
in, or to any other provision of, any other agreement, such term or provision shall continue to
have the original meaning thereof notwithstanding any termination, expiration or amendment of such
other agreement; <U><I>provided</I></U>, <U><I>however</I></U>, that to the extent that any agreement to which
all of the Project Credit Parties are parties is amended in accordance with the terms thereof and
hereof, then any references herein to the terms and provisions of such agreement shall be to such
terms or provisions as so amended; and; <U><I>provided</I></U>, <U><I>further</I></U>, that to the extent the
2015 Notes Indenture allows for the amendment of any &#147;Collateral Document&#148; (as defined in the 2015
Notes Indenture) without the consent of the 2015 Notes Indenture Trustee, any references
herein to the terms and provisions of such document shall be to such terms or provisions as so
amended.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->10<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>2.&nbsp;Deferral and Subordination of Lakes Obligations</B>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>2.1 Deferral and Accrual of Lakes Obligations</B>. Each of Lakes and each successor, assign and
transferee of any portion of Lakes Obligations agrees that any Lakes Obligations (a)&nbsp;not permitted
to be paid pursuant to the 2015 Notes Indenture or (b)&nbsp;the payment of which will result in or cause
an Event of Default under the 2015 Notes Indenture shall be deferred and shall accrue and may be
paid only at such time as such amounts would otherwise be permitted to be paid pursuant to the
provisions of the 2015 Notes Indenture (and the payment of which shall not result or cause an Event
of Default under the 2015 Notes Indenture), and none of Lakes nor any successor, assign or
transferee of any portion of Lakes Obligations will ask, demand, sue for, take or receive from the
Borrower, by set-off or in any other manner, direct or indirect payment (whether in cash or
property), any such amounts or any transfer or property in payment of or as additional security
therefor (<U><I>provided</I></U> that Lakes and any successor, assign or transferee of any portion of
Lakes Obligations may ask for or demand payments permitted to be paid pursuant to this <U>Section
2.1</U>, and <U><I>provided</I></U> <U><I>further</I></U> that Lakes and each successor, assign or transferee
of any portion of the Lakes Obligations may make any demand, give any notice or take any other
action permitted by and in accordance with the terms of the Development and Management Agreement or
any other Lakes Transaction Document so long as such action is not prohibited by this Agreement and
the 2015 Notes Indenture). Without limiting the generality of the foregoing, nothing in this
Agreement shall limit, restrict or otherwise impair any right of Lakes or any successor, assign or
transferee to terminate the Development and Management Agreement or any other Lakes Transaction
Document in accordance with the terms thereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>2.2 &#091;Intentionally Omitted&#093;</B>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>2.3 Subordination to First Lien Secured Obligations</B>. Notwithstanding any provision of the
Development and Management Agreement, Lakes Notes or any agreement and instruments referred to
therein, all Lakes Obligations shall be subordinate and junior in right of payment, to the extent
and in the manner set forth in this <U>Section&nbsp;2</U>, to the Discharge of all First Lien Secured
Obligations. For avoidance of doubt, each of the First Lien Secured Parties agrees that, subject
to the provisions of <U>Section&nbsp;2.4</U>, at any time prior to the Discharge of the First Lien
Secured Obligations, the Borrower may make, and Lakes and each successor, assign or transferee of
any portion of the Lakes Obligations may receive and retain, payments with respect to the Lakes
Obligations, so long as such payments are permitted to be paid pursuant to, and will not result in
or cause an Event of Default under, the 2015 Notes Indenture.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>2.4 Default on First Lien Secured Obligations</B>. In the event that any Event of Default shall occur
and be continuing with respect to the 2015 Notes Indenture, or if any payment of Lakes Obligations
would create an Event of Default under the 2015 Notes Indenture, unless and until the prior
Discharge of all First Lien Secured Obligations, the right of Lakes to receive any payments or
other distributions with respect to Lakes Obligations shall be deferred during such time as such
payment or other distribution would create an Event of Default or during the continuance of any
Event of Default.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>2.5 Deferral Not a Default. </B>Lakes agrees that any deferral pursuant to this
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->11<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Section&nbsp;2</U> of
payment of any Lakes Notes shall not constitute a default under the Development and Management
Agreement, the Lakes Notes, or any agreement and instruments referred to therein so long as the
2015 Notes have not been accelerated. For avoidance of doubt, the foregoing sentence shall not
limit, restrict or otherwise impair any right of Lakes or any of its successors, assigns or
transferees to terminate or exercise any other right or remedy under the Development and Management
Agreement or any other Transaction Documents in accordance with the terms thereof, other than as a
result of such non-payment under the Lakes Notes.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>2.6 Continuing Subordination. </B>The subordination effected by this <U>Section&nbsp;2</U> is a
continuing subordination and may not be modified or terminated by Lakes, any of its successors,
assigns and transferees until the prior Discharge of all First Lien Secured Obligations.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>2.7 Subordination of the Lakes Obligations upon Insolvency or Liquidation Proceeding</B>. Without
limiting the application of <U>Sections&nbsp;7</U> or <U>8</U>, in the event of any distribution,
division or application, partial or complete, voluntary or involuntary, by operation of law or
otherwise, of all or any part of the assets of the Borrower or the proceeds thereof to creditors of
the Borrower or upon any Indebtedness of the Borrower, by reason of the liquidation, dissolution or
other winding up, partial or complete, of the Borrower, or any Insolvency or Liquidation
Proceeding, then and in any such event:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>2.7.1 </B>The holders of First Lien Secured Obligations shall be entitled to receive payment in
full in cash of all such First Lien Secured Obligations before Lakes, its successors, assigns and
transferees shall be entitled to receive any payment or other distributions on, or with respect to,
the Lakes Obligations;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>2.7.2 </B>Any payment or distribution of any kind or character, whether in cash, securities or
other property, which but for these provisions would be payable or deliverable upon or with respect
to the Lakes Obligations shall instead be paid or delivered directly to the Collateral Agent for
application on the First Lien Secured Obligations, whether then due or not due, until such First
Lien Secured Obligations shall have first been Discharged;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>2.7.3 </B>Each of Lakes, its successors, assigns and transferees hereby
irrevocably authorizes and empowers the Collateral Agent, and appoints the Collateral Agent as
attorney-in-fact, to demand, sue for, collect and receive every such payment or distribution and
give acquittance therefor, and to file and vote claims (in bankruptcy proceedings or otherwise) and
take such other actions, in the Collateral Agent&#146;s own name or otherwise, as the Collateral Agent
may deem necessary or advisable for the enforcement of these provisions. Lakes, its successors,
assigns and transferees shall duly and promptly take such action as may be reasonably requested by
the Collateral Agent to assist in the collection of the Lakes Obligations for the account of any
holder of the First Lien Secured Obligations, and to file appropriate proofs of claim with respect
to the Lakes Obligations and to vote the same, and to execute and deliver to the Collateral Agent
on demand such powers of attorney, proofs of claim, assignments of claim or other instruments as
may be reasonably requested by the Collateral Agent to enable the Collateral Agent or any other
holder of First Lien Secured Obligations to enforce any and all claims upon or with respect
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->12<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">to the
Lakes Obligations and to collect and receive any and all payments or distributions which may be
payable or deliverable at any time upon or with respect to the Lakes Obligations. In addition,
none of Lakes, any of its successors, assigns or transferees shall take any action (whether oral,
written or otherwise) in contravention of any action of the Collateral Agent duly taken and
permitted hereunder. Such appointment as attorney-in-fact pursuant to this <U>Section&nbsp;2.7.3</U>
is irrevocable and coupled with an interest until payment in full in cash and complete performance
of all the First Lien Secured Obligations. The Collateral Agent may appoint a substitute
attorney-in-fact. Each of Lakes, its successors, assigns and transferees ratifies all actions
reasonably taken by the attorney-in-fact but, nevertheless, if the Collateral Agent requests, each
of them will specifically ratify any action taken by the attorney-in-fact by executing and
delivering to the attorney-in-fact or to any entity designated by the attorney-in-fact all
documents necessary to effect such ratification; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>2.7.4 </B>Following any Insolvency or Liquidation Proceedings or Event of Default under the 2015
Notes Indenture that is continuing, each of Lakes, its successors, assigns and transferees will
forthwith deliver any direct or indirect payment thereafter made to it upon or with respect to the
Lakes Obligations prior to the Discharge of all First Lien Secured Obligations to the Collateral
Agent in precisely the form received (except for the endorsement or assignment by Lakes and its
successors, assigns and transferees where necessary) for application on the First Lien Secured
Obligations, whether then due or not due. Until so delivered, the payment or distribution shall be
held in trust by Lakes, its successors, assigns and transferees as property of the holders of the
First Lien Secured Obligations. In the event of the failure by Lakes, its successors, assigns and
transferees to make any such endorsement or assignment, the Collateral Agent, or any of its
officers or employees, are hereby irrevocably authorized to make the same.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>2.8 &#091;Intentionally Omitted&#093;</B>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>2.9 Judgment Liens</B>. In the event any of Lakes, its successors, assigns and transferees becomes a
judgment Lien creditor in respect of any assets of the Borrower as a result of its enforcement of
its rights as a creditor with respect to the Lakes Obligations such judgment Lien shall be subject
to the terms of this Agreement for all purposes (including in relation to the First Lien
Secured Obligations) as the other Liens securing the Second Lien Secured Obligations are subject to
this Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>2.10 When Proceeds Must be Paid Over</B>. Any payment received by Lakes, its successors, assigns and
transferees (including, without limitation, payments and prepayments made for application against
the Lakes Secured Obligations) prior to the Discharge of all First Lien Secured Obligations when
such payment is not expressly permitted by the terms of this Agreement or the 2015 Notes Indenture
shall be held in trust for the benefit of the holders of First Lien Secured Obligations and shall
be turned over to the Collateral Agent promptly upon the request of the Collateral Agent.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>2.11 Subrogation</B>. With respect to the value of any payments or distributions in cash, property or
other assets that Lakes or any of its successors, assigns and transferees pays over to the
Collateral Agent or any of the First Lien Secured Parties under the terms of this Agreement, Lakes
shall be subrogated to the rights of the Collateral Agent or such First Lien Secured Parties;
<U><I>provided</I></U>, <U><I>however</I></U>, that, Lakes and its successors, assigns and transferees hereby
agree not to assert or enforce all such rights of subrogation it may acquire as a result of

<P align="center" style="font-size: 10pt"><!-- Folio -->13<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">any
payment hereunder until the Discharge of all First Lien Secured Obligations has occurred. To the
extent permitted by applicable law, the value of any payments or distributions in cash, property or
other assets received by Lakes or its successors, assigns and transferees that are paid over to the
Collateral Agent or any First Lien Secured Party pursuant to this Agreement shall not reduce any of
the Lakes Obligations.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3.&nbsp;Collateral Agent.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3.1 Appointment</B>. The 2015 Notes Indenture Trustee hereby designates The Bank of New York
Trust Company, N.A., as the Collateral Agent to act as specified herein and in each of the
First Lien Security Documents. Each First Lien Secured Party hereby irrevocably authorizes, and
each holder of any instrument evidencing any First Lien Obligations by the acceptance of such
instrument evidencing any First Lien Obligations shall be deemed irrevocably to authorize, the
Collateral Agent to take such action on its behalf under the provisions of this Agreement, the
First Lien Security Documents and any other instruments and agreements referred to herein or
therein and to exercise such powers and to perform such duties hereunder and thereunder as are
specifically delegated to or required of the Collateral Agent by the terms hereof and thereof and
such other powers as are reasonably incidental thereto. The Collateral Agent may perform any of
its duties hereunder or thereunder by or through its authorized agents or employees.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3.2 Nature of Duties</B>. The Collateral Agent shall have no duties or responsibilities except those
expressly set forth herein and in the First Lien Security Documents. Neither the Collateral Agent
nor any of its officers, directors, employees or agents shall be liable for any action taken or
omitted by it as such hereunder or under the First Lien Security Documents or in connection
herewith or therewith to the maximum extent permitted by law. The duties of the Collateral Agent
shall be mechanical and administrative in nature. The Collateral Agent shall not have, by reason
of this Agreement, the First Lien Security Documents, any Facility Agreement or any other document
or instrument or otherwise, a fiduciary relationship in respect of any First Lien Secured Party;
and nothing in this Agreement, the First Lien Security Documents, any Facility Agreement or any
other document or instrument, expressed or implied, is intended to or shall be so construed as to
impose upon the Collateral Agent any obligations in respect of the First Lien Security Documents
except as expressly set forth herein or therein.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3.3 Lack of Reliance on the Collateral Agent</B>. Independently and without reliance upon the
Collateral Agent, each First Lien Secured Party, to the extent it deems appropriate, has made and
shall continue to make (a)&nbsp;its own independent investigation of the financial condition and affairs
of the Borrower and their affiliates in connection with the making and the continuance of the
Obligations and the taking or not taking of any action in connection therewith, and (b)&nbsp;its own
appraisal of the creditworthiness of the Borrower and their affiliates, and the Collateral Agent
shall have no duty or responsibility, either initially or on a continuing basis, to provide any
First Lien Secured Party with any credit or other information with respect thereto, whether coming
into its possession before the extension of any Obligations, or at any time or times thereafter.
The Collateral Agent shall not be responsible to any First Lien Secured Party for any recitals,
statements, information, representations or warranties herein or in any document, certificate or
other writing delivered in connection herewith or for the execution, effectiveness, genuineness,
validity, enforceability, perfection, collectibility, priority or

<P align="center" style="font-size: 10pt"><!-- Folio -->14<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">sufficiency of the First Lien
Security Documents, the First Lien Shared Collateral or the Shared Collateral or the financial
condition of the Borrower or any of their affiliates or be required to make any inquiry concerning
either the performance or observance of any of the terms, provisions or conditions of the First
Lien Security Documents, or the financial condition of the Borrower or their affiliates, or the
existence or possible existence of any Event of Default.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3.4 Certain Rights of the Collateral Agent; </B><B><I>Pari Passu </I></B><B>in Priority of Liens; Separate
Collateral.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3.4.1 </B>Prior to the discharge of the First Lien Secured Obligations, no Secured Party shall
have the right to take any action with respect to (or against) any Shared Collateral or First Lien
Shared Collateral, but instead may only cause the Collateral Agent to take any action with respect
to (or against) any Shared Collateral or First Lien Shared Collateral in accordance with the terms
and subject to the limitations set forth herein. Notwithstanding the preceding sentence or any
other provision of this Agreement to the contrary, the 2015 Notes Indenture Trustee (acting in
accordance with the 2015 Notes Indenture) shall have the right at any time to exercise any rights
or remedies with respect to the 2015 Notes Separate Collateral. If the Collateral Agent shall
request instructions from the Required Secured Parties with respect to any act or action (including
failure to act) in connection with this Agreement or the First Lien Security Documents, the
Collateral Agent shall be entitled to refrain from such act or taking such action unless and until
it shall have received instructions from the Required Secured Parties and to the extent requested,
appropriate indemnification in respect of actions to be taken, and the
Collateral Agent shall not incur liability to any Secured Party or any other Person by reason
of so refraining. Without limiting the foregoing, no Secured Party shall have any right of action
whatsoever against the Collateral Agent as a result of the Collateral Agent acting or refraining
from acting (i)&nbsp;hereunder in accordance with the instructions of the Required Secured Parties or
(ii)&nbsp;under any First Lien Security Document as provided for therein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3.4.2 </B>Notwithstanding anything to the contrary contained in this Agreement, the Collateral
Agent is authorized, but not obligated, (a)&nbsp;to take any action reasonably required to perfect or
continue the perfection of the Liens on the First Lien Shared Collateral and the Shared Collateral
for the benefit of the First Lien Secured Parties, including entering into any Security Document
with respect to First Lien Shared Collateral or any other document in connection with a Security
Document, as secured party or beneficiary, as applicable, on behalf of the applicable First Lien
Secured Parties (and each Project Credit Party, on behalf of the First Lien Secured Parties it
represents, agrees to be bound by such documents to the extent the Collateral Agent has entered
into such documents on behalf of such parties), and (b)&nbsp;when instructions from the Required Secured
Parties have been requested by the Collateral Agent but have not yet been received, to take any
action which the Collateral Agent, in good faith, believes to be reasonably required to promote and
protect the interests of the First Lien Secured Parties in the First Lien Shared Collateral and the
Shared Collateral; <U>provided</U> that once instructions have been received, the actions of the
Collateral Agent shall be governed thereby and the Collateral Agent shall not take any further
action which would be contrary thereto. In addition, once the Collateral Agent has been instructed
by the Required Secured Parties to commence enforcement proceedings under the First Lien Security
Documents, the Collateral Agent shall in good faith and in the manner reasonably believed by the
Collateral Agent to be in the interest of the First Lien Secured Parties, promptly commence and
diligently pursue to
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->15<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">completion the exercise of all rights and remedies available to the Collateral
Agent under the First Lien Security Documents, subject to the Collateral Agent&#146;s right to request
instructions and/or indemnities from the Required Secured Parties as provided in <U>Sections
3.4.1</U> and <U>3.4.3</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3.4.3 </B>Notwithstanding anything to the contrary contained in this Agreement, the Collateral
Agent shall not be required to take any action that exposes or, in the good faith judgment of the
Collateral Agent may expose, the Collateral Agent or its officers, directors, agents or employees
to personal liability unless the Collateral Agent shall be adequately indemnified as provided
herein or that is, or in the good faith judgment of the Collateral Agent may be, contrary to the
First Lien Security Documents or applicable law. In addition, none of the provisions of this
Agreement shall be construed to require the Collateral Agent to expend or risk its own funds or
otherwise to incur any personal financial liability in the performance of any of its duties
hereunder or under the First Lien Security Documents, or in the exercise of any of its rights or
powers if it shall have reasonable grounds for believing that repayment of such funds or inadequate
indemnity against such risk or liability is not reasonably assured to it.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3.4.4 </B>If the Collateral Agent delivers a Collateral Agent Notice of Exclusive Control (as
defined in the Notes Dominion Account Agreement) and no Event of Default described in clause (12)
of the definition of Event of Default in the 2015 Notes Indenture exists, during the continuation
of the First Lien Secured Obligations Event of Default Period (as defined in the Notes Dominion
Account Agreement) commenced by such Collateral Agent
Notice of Exclusive Control and only until the holders of at least twenty-five percent (25%)
of the outstanding principal amount of the First Lien Secured Obligations direct the Collateral
Agent to cease the disbursement of funds in the Notes Dominion Account to pay &#147;Operating Expenses&#148;
(as defined in the 2015 Notes Indenture), the Collateral Agent will not prohibit funds in the Notes
Dominion Account from being disbursed to the Authority for the payment of Operating Expenses
(except for payments to Lakes or any other Second Lien Secured Parties), if the Borrower delivers
to the Collateral Agent a certificate executed by at least two (2)&nbsp;officers of the Borrower that
states that such funds will be used only to pay Operating Expenses in compliance herewith and
identifies the payees of such funds and the basis for such payments.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3.4.5 </B>Notwithstanding any provision contained herein to the contrary, the Collateral Agent,
including its officers, directors, employees and agents, shall:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;not have any liability or obligation with respect to any failure or delay in the
performance of its obligations under this Agreement arising out of or caused, directly or
indirectly, by circumstances beyond its reasonable control, including, without limitation, acts of
God; earthquakes; fires; floods; wars; civil or military disturbances; sabotage; epidemics; riots;
interruptions, loss or malfunctions of utilities, computer (hardware or software) or communications
services; accidents; labor disputes; acts of civil or military authority or government actions; it
being understood that the Collateral Agent shall use reasonable efforts which are consistent with
accepted practices in the banking industry to resume performance as soon as practicable under the
circumstances;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;have the right, but not the obligation, to consult with counsel of choice and shall not be
liable for action taken or omitted to be taken by Collateral Agent either in
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->16<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">accordance with the
advice of such counsel or in accordance with any opinion of counsel to the Authority addressed and
delivered to the Collateral Agent;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;have the right to perform any of its duties hereunder through agents, attorneys,
custodians or nominees, and shall not be responsible for the misconduct or negligence of such
agents, attorneys, custodians and nominees appointed by it with due care; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;IN NO EVENT SHALL THE COLLATERAL AGENT BE LIABLE, DIRECTLY OR INDIRECTLY, FOR ANY (i)
DAMAGES OR EXPENSES ARISING OUT OF THE SERVICES PROVIDED HEREUNDER, OTHER THAN DAMAGES WHICH RESULT
FROM THE COLLATERAL AGENT&#146;S FAILURE TO ACT IN ACCORDANCE WITH THE STANDARDS SET FORTH IN THIS
AGREEMENT, OR (ii)&nbsp;SPECIAL, PUNITIVE OR CONSEQUENTIAL DAMAGES, EVEN IF THE COLLATERAL AGENT HAS
BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3.4.6 </B>Any banking association or corporation into which the Collateral Agent may be merged,
converted or with which the Collateral Agent may be consolidated, or any corporation resulting from
any merger, conversion or consolidation to which the Collateral Agent shall be a party, or any
banking association or corporation to which all or substantially all of the corporate trust
business of the Collateral Agent shall be transferred, shall succeed to all the Collateral Agent&#146;s
rights, obligations and immunities hereunder without the execution or filing of any paper or any
further act on the part of any of the parties hereto, anything herein to the
contrary notwithstanding.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3.5 Reliance</B>. The Collateral Agent shall be entitled to rely, and shall be fully protected in
relying, upon any note, writing, resolution, notice, statement, certificate, telex, teletype or
facsimile message, cablegram, order or other document or telephone message signed, sent or made by
a Person believed by it to be authorized to sign, send or make the same, and, with respect to all
legal matters pertaining to this Agreement or the First Lien Security Documents and its duties
hereunder and thereunder, upon the advice of counsel selected by it.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3.6 Indemnification</B>. To the extent the Collateral Agent is not reimbursed and indemnified by the
Borrower under the respective First Lien Security Documents to which they are a party, the
Collateral Agent shall be entitled to reimbursement from the proceeds of the First Lien Shared
Collateral and the Shared Collateral, but shall have no claim against any First Lien Secured Party
for reimbursement or indemnification.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3.7 Collateral Agent in its Individual Capacity</B>. The Collateral Agent may accept deposits from,
lend money to, and generally engage in any kind of banking, trust or other business with the
Borrower or any of their affiliates as if it were not performing the duties specified herein or in
the First Lien Security Documents.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3.8 Holders</B>. The Collateral Agent may deem and treat the registered owner of any 2015 Note as the
owner thereof for all purposes hereof unless and until a written notice of the assignment, transfer
or endorsement thereof, as the case may be, shall have been filed with the Collateral Agent. Any
request, authority or consent of any person or entity who, at the time of making such request or
giving such authority or consent, is the registered owner of any 2015

<P align="center" style="font-size: 10pt"><!-- Folio -->17<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Note shall be final and
conclusive and binding on any subsequent holder, transferee, assignee or endorsee, as the case may
be, of such 2015 Note.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3.9 Resignation and Removal of the Collateral Agent.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3.9.1 </B>The Collateral Agent may resign from the performance of all of its functions and duties
under the First Lien Security Documents at any time by giving thirty (30)&nbsp;days&#146; prior written
notice to the Borrower and each First Lien Secured Parties and may be removed at any time, with or
without cause, by the Required First Lien Secured Parties.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3.9.2 </B>Upon receiving notice of any such resignation or removal, a successor Collateral Agent
shall be appointed by the Required First Lien Secured Parties; <U>provided,</U> <U>however</U>,
that such successor Collateral Agent shall be (a)&nbsp;a bank or trust company having a combined capital
and surplus of at least $500,000,000 subject to supervision or examination by a federal or state
banking authority, (b)&nbsp;authorized under the laws of the jurisdiction of its incorporation or
organization to assume the functions of the Collateral Agent
and (c)&nbsp;not disqualified to act in such capacity pursuant to applicable gaming laws and
regulations. If the appointment of such successor shall not have become effective (as provided in
<U>Section&nbsp;3.9.3</U>) within such thirty (30)&nbsp;day period after the Collateral Agent shall have
given such notice, then the Required First Lien Secured Parties may petition a court of competent
jurisdiction for the appointment of a successor Collateral Agent. Such court shall, after such
notice as it may deem proper, appoint a successor Collateral Agent meeting the qualifications
specified in this <U>Section&nbsp;3.9.2</U>. The First Lien Secured Parties hereby consent to such
petition and appointment so long as such criteria are met.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3.9.3 </B>The resignation of a Collateral Agent shall become effective on the date specified in
the notice provided in accordance with <U>Section&nbsp;3.9.1</U>. The removal of a Collateral Agent
shall become effective only upon the execution and delivery of such documents or instruments as are
necessary to transfer the rights and obligations of the Collateral Agent under the First Lien
Security Documents and the recording or filing of such documents, instruments or financing
statements as may be necessary to maintain the priority and perfection of any security interest
granted by any First Lien Security Document. Copies of each such document or instrument shall be
delivered to each Project Credit Party. The appointment of a successor Collateral Agent pursuant
to <U>Section&nbsp;3.9.2</U> shall become effective upon the acceptance of such appointment (and
execution by such successor of the documents, instruments or financing statements referred to
above) and such successor Collateral Agent shall succeed to and become vested with all the rights,
powers, privileges and duties of the retiring Collateral Agent and shall be deemed to be the
&#147;Collateral Agent&#148; hereunder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3.9.4 </B>After any resignation or removal hereunder of the Collateral Agent, the indemnification
provisions of this Agreement shall continue to inure to its benefit as to any actions taken or
omitted to be taken by it in connection with its agency hereunder while it was Collateral Agent.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>4.&nbsp;Collateral, Priority, Subordination and Release of Liens.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>4.1 Liens and Security Interests</B>. The Project Credit Parties agree that the
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->18<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Secured Parties shall
have the benefit of the following Liens on and security interests in the Collateral:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>4.1.1 Collateral for 2015 Notes Secured Obligations</B>. The 2015 Notes Secured Obligations shall be
secured by a first priority Lien on and security interest in the 2015 Notes Separate Collateral,
the First Lien Shared Collateral and the Shared Collateral, which first priority Lien and security
interest in the First Lien Shared Collateral and the Shared Collateral shall be <I>pari passu </I>in
priority with the Lien and security interest in the First Lien Shared Collateral and the Shared
Collateral securing the Obligations under any Permitted Additional Senior Secured Debt Agreement,
subject to the sharing of proceeds provisions hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>4.1.2 Collateral for Other Permitted Additional Senior Secured Debt</B>. The Permitted Additional
Senior Secured Debt Agreements shall be secured by
a first priority Lien on and security interest in the First Lien Shared Collateral and the
Shared Collateral, which first priority Lien and security interest in the First Lien Shared
Collateral and the Shared Collateral shall be <I>pari passu </I>in priority with the Lien and security
interest in the First Lien Shared Collateral and the Shared Collateral securing the 2015 Notes
Secured Obligations, subject to the sharing of proceeds provisions hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>4.1.3 Collateral for Lakes Secured Obligations</B>. The Lakes Secured Obligations shall be secured by a
first priority Lien on and security interest in the Lakes Dominion Account and by a second priority
Lien on and second priority security interest in the Shared Collateral, which second priority Lien
and second priority security interest in the Shared Collateral shall be <I>pari passu </I>in priority with
the Lien and security interest in the Shared Collateral securing the Obligations under any
Permitted Additional Junior Secured Debt Agreement, subject to the sharing of proceeds provisions
hereof, and subject and subordinate to the Lien and security interest in the Shared Collateral
securing the First Lien Secured Obligations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>4.1.4 Collateral for Permitted Additional Junior Secured Debt</B>. Any Permitted Additional Junior
Secured Debt Agreements shall be secured by a second priority Lien on and security interest in the
Shared Collateral, which second priority Lien and security interest in the Shared Collateral shall
be <I>pari passu </I>in priority with the Lien and security interest in the Shared Collateral securing the
Lakes Secured Obligations, subject to the sharing of proceeds provisions hereof and subject and
subordinate to the Lien and security interest in the Shared Collateral securing the First Lien
Secured Obligations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>4.2 Separate Collateral</B>. The 2015 Notes Separate Collateral secures only the 2015 Notes Secured
Obligations, and no other Secured Party shall have any Liens thereon or any security interest
therein. The First Lien Shared Collateral secures only the First Lien Secured Obligations, and no
other Secured Party shall have any Liens thereon or any security interest therein. The Lakes
Dominion Account secures only the Lakes Secured Obligations, and no other Secured Party shall have
any Liens thereon or any security interest therein. Until the Discharge of the 2015 Notes and any
other First Lien Secured Obligation shall have occurred, Lakes shall ensure that no deposits shall
be made into the Lakes Dominion Account and no assets shall be held in the Lakes Dominion Account,
and if any assets shall be deposited in or
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->19<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">credited to the Lakes Dominion Account at any time prior
to such Discharge, then Lakes shall immediately cause such assets to be deposited in the Notes
Dominion Account.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>4.3 Confirmation of Liens</B>. The Secured Parties each hereby confirm and agree that the Liens and
security interests held by or for the benefit of a Secured Party in the Collateral, as provided for
in the preceding provisions of this <U>Section&nbsp;4</U>, shall secure all Obligations of the Borrower
now or hereafter owing to such Secured Party in connection with the applicable Facility Agreement
throughout the term of this Agreement, with the priority specified in <U>Section&nbsp;4.1</U>, and
further in each case notwithstanding (a)&nbsp;the availability of any other collateral to any Secured
Party, (b)&nbsp;the execution, delivery, recording, filing or perfection of any of the Security
Documents, or the order of such execution, delivery, recording, filing or perfection or the
priorities which would otherwise result therefrom, (c)&nbsp;the fact that any Lien or security interest
created by any of the Security Documents, or any claim with respect thereto, is or may be
subordinated, avoided or disallowed in whole or in part under any Bankruptcy Law, (d)&nbsp;the taking of
possession of any Shared Collateral or any First Lien Shared Collateral by any Project Credit Party
(and such possession to be deemed to be on behalf of all Project Credit Parties for purposes of
perfecting the security interest or Lien of each therein) or (e)&nbsp;any other matter whatsoever. All
provisions of this Agreement, including but not limited to, all matters relating to the creation,
validity, perfection, priority, subordination and release of the Liens and security interests
intended to be created by any Security Document and all provisions regarding the allocation and
priority of payments with respect to any Class of Secured Obligations shall survive any Insolvency
or Liquidation Proceeding and be fully enforceable by and against each Project Credit Party during
any such proceeding. In the event of an Insolvency or Liquidation Proceeding, each Secured Party
further confirms and agrees that the Obligations due and outstanding under and with respect to each
Class of Secured Obligations shall include all principal, additional advances permitted thereunder,
interest, default interest, London Interbank Offered Rate (LIBOR)&nbsp;breakage and swap breakage, post
petition interest and all other amounts due thereunder, for periods before and for periods after
the commencement of any such proceedings, even if the claim for such amounts is disallowed pursuant
to applicable law, and all proceeds from the sale or other disposition of the Collateral shall be
paid to the Secured Parties in the order and priority provided for in this <U>Section&nbsp;4</U>
notwithstanding the disallowance of any such claim or the invalidity or subordination of any Lien
on or security interest in the Collateral under applicable law and further notwithstanding any
release of any such Lien or security interest pursuant to <U>Section&nbsp;4.4</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>4.4 Releases</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>4.4.1 </B>Lakes hereby represents and warrants that it has released all Liens on collateral
securing Lakes Secured Obligations not constituting the Shared Collateral prior to the date hereof
(other than the Lakes Dominion Account); Lakes further represents and agrees that it shall not
allow any collateral not constituting the Shared Collateral (other than the Lakes Dominion
Account) to secure the Lakes Secured Obligations prior to the Discharge of the First Lien Secured
Obligations. For the avoidance of doubt, this means that Lakes shall not have a security interest
or Lien on the FF&#038;E Collateral so long as any FF&#038;E Financing secured by such FF&#038;E Collateral is
outstanding (except with respect to any items of FF&#038;E Collateral which are released and no longer
constitute FF&#038;E Collateral). Further, any Permitted Additional Junior Secured Debt Agreement shall
not be secured by any FF&#038;E Collateral so long as any FF&#038;E
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->20<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Financing secured by such FF&#038;E Collateral
is outstanding (except with respect to any items of
FF&#038;E Collateral which are released and no longer constitute FF&#038;E Collateral).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>4.4.2 </B>If in connection with the exercise of the First Lien Required Secured Party&#146;s remedies
in respect of any Shared Collateral as provided for in <U>Section&nbsp;5.2</U>, the Collateral Agent,
on behalf of the First Lien Secured Parties, releases its Liens on any part of the Shared
Collateral, then the Liens of the Second Lien Secured Parties on the Shared Collateral sold or
disposed of in connection with such exercise, shall be automatically, unconditionally and
simultaneously released. The Second Lien Secured Parties promptly shall execute and deliver to the
Collateral Agent such termination statements, releases and other documents as the Collateral Agent
may request to effectively confirm such release.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>4.4.3 </B>If in connection with any sale, lease, exchange, transfer or other disposition of any
Shared Collateral permitted under <U>Section&nbsp;4.09</U> of the 2015 Notes Indenture, the Collateral
Agent, on behalf of the Required First Lien Secured Parties, releases its Liens on any part of the
Shared Collateral, then the Liens of the Second Lien Secured Parties on such Shared Collateral
shall be automatically, unconditionally and simultaneously released. The Second Lien Secured
Parties promptly shall execute and deliver to the Collateral Agent such termination statements,
releases and other documents as the Collateral Agent may request to effectively confirm such
release.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>4.4.4 </B>If in connection with the distribution by the Borrower of Net Loss Proceeds (as defined
in the 2015 Notes Indenture) from any Event of Loss of any Shared Collateral as required under
<U>Section&nbsp;4.10</U> of the 2015 Notes Indenture, the Collateral Agent, on behalf of the Required
First Lien Secured Parties, releases its Liens on any part of the Shared Collateral, then the Liens
of the Second Lien Secured Parties on such Shared Collateral shall be automatically,
unconditionally and simultaneously released. The Second Lien Secured Parties promptly shall
execute and deliver to the Collateral Agent such termination statements, releases and other
documents as the Collateral Agent may request to effectively confirm such release.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>4.4.5 </B>Until the Discharge of First Lien Secured Obligations shall occur, each of the Second
Lien Secured Parties hereby irrevocably constitutes and appoints the Collateral Agent as its true
and lawful attorney-in-fact with full irrevocable power and authority in the place and stead of
each of the Second Lien Secured Parties for the purpose of carrying out the terms of this
<U>Section&nbsp;4.4</U>, to take any and all appropriate action and to execute any and all documents
and instruments which may be necessary to accomplish the purposes of this Section&nbsp;4.4, including
any endorsements or other instruments of transfer or release.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>4.4.6 </B>Notwithstanding the release of any Lien in accordance with this <U>Section&nbsp;4</U>, the
proceeds of any Collateral released in accordance with this <U>Section&nbsp;4</U> by any Secured Party
or any successor, assign or transferee shall be distributed in accordance with the terms of this
Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>5.&nbsp;Rights and Limitation of Actions With Respect to Collateral.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>5.1 Rights and Limitations Applicable to Second Lien Secured Parties.</B>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->21<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>5.1.1 </B>Subject to <U>Section&nbsp;5.1.2</U>, at any time prior to the Discharge of all
First Lien Secured Obligations, the Second Lien Secured Parties shall not, and shall not
authorize or direct any other Person acting for them to, exercise any right or remedy with respect
to any Collateral (including any right of set-off) or take any action to enforce, collect or
realize upon any Collateral, including, without limitation, any right, remedy or action to:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>take possession of or control over any Collateral;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>exercise any collection rights in respect of any Collateral;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>exercise any right of set-off against any
property subject to any Lien securing any First Lien Secured
Obligations;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>foreclose upon any Collateral or take or accept
any transfer of title in lieu of foreclosure upon any Collateral;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>enforce any claim to the proceeds of insurance
upon any Collateral;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(f)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>deliver any notice, claim or demand relating to
the Collateral to any Person (including any securities intermediary,
depositary bank or landlord) in the possession or control of any
Collateral or acting as bailee, custodian or agent for any of the First
Lien Secured Obligations in respect of any Collateral;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(g)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>otherwise enforce any remedy available upon
default for the enforcement of any Lien upon any Collateral;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(h)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>deliver any notice or commence any proceeding
for any of the foregoing purposes;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>seek relief in any Insolvency or Liquidation
Proceeding permitting it to do any of the foregoing; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(j)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>retain any proceeds of accounts and other
obligations receivable paid to it directly by any account debtor.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>5.1.2 </B>Notwithstanding the foregoing, nothing in this <U>Section&nbsp;5.1</U> shall prohibit, limit
or restrict Lakes or any successor, assign or transferee of any portion of the Lakes Obligations
from applying funds comprising Collateral as contemplated by the Lakes Transaction Documents, so
long as such application is permitted by the 2015 Notes Indenture and this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>5.1.3 </B>Notwithstanding <U>Section&nbsp;5.1.1</U>, any right or remedy set forth in clauses (a)
through (j)&nbsp;thereof may be exercised and any such action may be taken, authorized or instructed by
the Second Lien Secured Parties as necessary to redeem any Collateral in a creditor&#146;s redemption
permitted by law or to deliver (subject to the prior Discharge of the First Lien Secured
Obligations) any notice or demand necessary to enforce any right to claim, take or
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->22<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">receive proceeds
of Collateral remaining after the Discharge of the First Lien Secured
Obligations in the event of foreclosure or other enforcement of any Lien securing the First
Lien Secured Obligations, so long as the enforcement of any such Lien securing the First Lien
Secured Obligations is not adversely affected or delayed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>5.1.4 </B>Notwithstanding <U>Section&nbsp;5.1.1</U>, any right or remedy set forth in clauses (a)
through (j)&nbsp;thereof may be exercised and any such action may be taken, authorized or instructed by
the Second Lien Secured Parties:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>as necessary to perfect a Lien upon any Shared
Collateral by any method of perfection except through possession or
control (other than as contemplated by the Notes Dominion Account
Agreement); or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>as necessary to create, prove, preserve or
protect (but not enforce) the Liens upon any Shared Collateral securing
the Second Lien Secured Obligations.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>5.1.5 </B>Nothing in this Agreement or any other Facility Agreement shall affect the relative
rights of the Second Lien Secured Parties, collectively, vis a vis creditors of the Borrower (other
than the First Lien Secured Parties).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>5.2 Rights and Limitations Applicable to the First Lien Secured Parties.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>5.2.1 </B>At all times until Discharge of all First Lien Secured Obligations, the Collateral Agent
at the direction of the Required Secured Parties shall have, on behalf of the First Lien Secured
Parties, the exclusive right to manage, perform and enforce the terms of the First Lien Security
Documents with respect to all Shared Collateral and to exercise and enforce all privileges and
rights thereunder according to its discretion and exercise of its business judgment, including,
without limitation, the exclusive right to take the actions enumerated in clauses (a)&nbsp;through (j)
of <U>Section&nbsp;5.1.1</U>. In connection therewith, <U>provided</U> that each of the First Lien
Secured Parties acts in good faith and otherwise in accordance with applicable law, each Second
Lien Secured Party waives any and all rights to affect the method or challenge the appropriateness
of any action by the First Lien Secured Parties and hereby consents to each of the First Lien
Secured Parties exercising or not exercising such rights and remedies as if no Lien securing any
Second Lien Secured Obligations existed, except only that the Second Lien Secured Parties reserve
all rights granted by law (a)&nbsp;to request or receive notice of any sale of Shared Collateral in
foreclosure of any Lien securing the First Lien Secured Obligations and (b)&nbsp;to redeem any Shared
Collateral or enforce any right to claim, take or receive proceeds of Shared Collateral remaining
after the Discharge of the First Lien Secured Obligations as provided in <U>Section&nbsp;5.1.3</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>5.3 Notification of Events of Default</B>. Each Project Credit Party hereby agrees, for the benefit
of each other Project Credit Party, to use its best efforts to provide written notice to each other
Project Credit Party within ten (10)&nbsp;Business Days after obtaining actual knowledge of the
occurrence or assertion of an Event of Default under their respective Facility Agreements. No
Project Credit Party shall
have any liability to the other for failing to provide any such notice.

<P align="center" style="font-size: 10pt"><!-- Folio -->23<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>5.4 Certain Waivers by Second Lien Secured Parties</B>. To the fullest extent permitted by law, the
Second Lien Secured Parties waive and agree not to assert or enforce, at any time prior to the
Discharge of all First Lien Secured Obligations:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any right of subrogation to the rights or interests of the
First Lien Secured Parties or any claim or defense based upon impairment of any
such right of subrogation (it being understood and agreed that the Second Lien
Secured Parties shall have such subrogation rights as substantially provided in
<U>Section&nbsp;2.11</U>);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any right of marshalling accorded to a junior lienholder, as
against a priority lienholder, under equitable principles; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any statutory right of appraisal or valuation accorded to a
junior lienholder in a proceeding to foreclose a senior Lien;</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">in each case, that otherwise may be enforceable in respect of any Lien securing any of the Second
Lien Secured Obligations as against the First Lien Secured Parties.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>5.5 Agent for Perfection</B>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>5.5.1 </B>Each of the Project Credit Parties agrees to hold all Collateral that is part of the
Shared Collateral and in its respective possession, custody, or control (or in the possession,
custody, or control of agents or bailees for either, as applicable) as agent for itself and the
other Project Credit Parties solely for the purpose of perfecting the security interest granted to
each in such Collateral subject to the terms and conditions of this Section&nbsp;5.5.1. None of the
Project Credit Parties shall have any obligation whatsoever to the other Project Credit Parties to
assure that the Collateral is genuine or owned by the Borrower, or to preserve rights or benefits
of any Person. The duties or responsibilities of each Project Credit Party under this Section
5.5.1 are and shall be limited solely to holding or maintaining control of the Collateral as agent
for itself and the others for purposes of perfecting the Lien held by the Project Credit Parties.
Persons acting pursuant to this Section&nbsp;5.5.1 are not and shall not be deemed to be fiduciaries of
any kind for any other Person.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>5.5.2 </B>Each of the Project Credit Parties acknowledges that, prior to the Tribe&#146;s creation of
the Borrower and conveyance of certain of the Shared Collateral to the Borrower, Lakes filed a
financing statement naming the Tribe as debtor and describing certain of the Shared Collateral,
which financing statement was filed as #236160561 on December&nbsp;20, 2002, with the California
Secretary of State (such financing statement being referred to as the &#147;2002 Financing Statement&#148;)
to perfect its security interest in such Shared Collateral. Each of the Project Credit Parties
agree that (a)&nbsp;the 2002 Financing Agreement shall be amended to name the Borrower as an additional
debtor and be continued reasonably in advance of the date on
which it would otherwise lapse, and (b)&nbsp;solely for purposes of perfecting the security
interest granted to each Project Credit Party in the Shared Collateral described in the 2002
Financing Statement, Lakes shall be deemed to act as agent for itself and the other Project Credit
Parties
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->24<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">and to have filed the 2002 Financing Statement in such capacity, subject to the terms and
conditions of this <U>Section&nbsp;5.5.2</U>. Lakes shall have no obligation whatsoever to the other
Project Credit Parties to assure that such Shared Collateral is genuine or owned by the Borrower,
or to preserve the rights or benefits of any Person. The duties or responsibilities of Lakes under
this <U>Section&nbsp;5.5.2</U> are and shall be limited solely to acting as agent for itself and the
other Project Credit Parties for purposes of perfecting the Lien of each Project Credit Party in
such of the Shared Collateral as such Project Credit Party has a Lien. Lakes acting pursuant to
this <U>Section&nbsp;5.2.2</U> is not and shall not be deemed to be a fiduciary of any kind for any
other Person.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>5.6 When Proceeds Must be Paid Over. </B>Any payment received by any Second Lien Secured Party
(including, without limitation, payments and prepayments made for application against the Second
Lien Secured Obligations and all other payments and deposits made pursuant to any provision of any
Permitted Additional Junior Secured Debt Agreement or any Second Lien Security Document) prior to
the Discharge of all First Lien Secured Obligations when such payment is not expressly permitted by
the terms of this Agreement shall be held in trust for the benefit of the First Lien Secured
Parties and shall be turned over to the Collateral Agent promptly upon the request of the
Collateral Agent or any other First Lien Secured Party.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>6.&nbsp;Rights and Limitations with Respect to Amendments, Waivers and Other Actions Under Facility
Agreements.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>6.1 Rights and Limitations Applicable to Second Lien Secured Parties</B>. Prior to the Discharge of
the First Lien Secured Obligations, the Second Lien Secured Parties will not enter into, authorize
or direct, any amendment of or supplement to any Second Lien Security Document relating to any
Collateral that would make such document inconsistent in any material respect with the comparable
provisions of the First Lien Security Document upon such Collateral. For purposes of the
foregoing, any provision granting rights or powers to any Second Lien Secured Party that are not
granted to the First Lien Secured Parties (other than pursuant to the Lakes Dominion Account
Agreement) will constitute a material inconsistency. For avoidance of doubt, each Project Credit
Party acknowledges and agrees that such Second Lien Security Documents as are in effect on the date
hereof, in the form in which they are so in effect on the date hereof, are not (and will not
hereafter be deemed to be) inconsistent with the First Lien Security Documents.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>6.2 Rights and Limitations Applicable to the First Lien Secured Parties.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>6.2.1 </B>The First Lien Secured Parties may at any time and from time to time, without the
consent of or notice to any Second Lien Secured Party, without incurring any responsibility or
liability to any Second Lien Secured Party and without in any manner prejudicing, affecting or
impairing the ranking or priority of the Liens and the security interests in the Collateral created
by the First Lien Security Documents or the rights and obligations of the
Project Credit Parties hereunder, take (or instruct the Collateral Agent to take) any of the
following, subject to the provisions of <U>Section&nbsp;5.2</U>:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>make loans and advances to the Borrower or issue, guaranty or
obtain letters of credit for account of the Borrower or otherwise extend credit
to the Borrower in any amount and on any terms, whether pursuant to a</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->25<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>commitment or as a discretionary advance and whether or not any default or
Event of Default or failure of condition is then continuing;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>change the manner, place or terms of payment or extend the time
of payment of, or renew or alter, compromise, accelerate, extend or, subject to
<U>Section&nbsp;10.14</U>, refinance any First Lien Secured Obligations or any
agreement, guaranty, Lien or obligation of the Borrower or any other Person in
any manner related thereto, or otherwise amend, supplement or change in any
manner any First Lien Secured Obligations or Liens securing First Lien Secured
Obligations or any such agreement, guaranty, Lien or obligation;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>increase or reduce the amount of any First Lien Secured
Obligation or the interest, premium, fees or other amounts payable in respect
thereof;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>release or discharge any First Lien Secured Obligation or any
guaranty thereof or any agreement or obligation of the Borrower or any other
Person with respect thereto;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>take or fail to take any first priority Lien or any other
collateral security for any First Lien Secured Obligation or take or fail to
take any action which may be necessary or appropriate to ensure that any Lien
securing a First Lien Secured Obligation or any other Lien upon any property is
duly enforceable or perfected or entitled to priority as against any other Lien
or to ensure that any proceeds of any property subject to any Lien are applied
to the payment of any First Lien Secured Obligation or any other obligation
secured thereby;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(f)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>release, discharge or permit the lapse of any or all Liens
securing a First Lien Secured Obligation or any other Liens upon any property
at any time;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(g)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>exercise or enforce, in any manner, order or sequence, or fail
to exercise or enforce, any right or remedy against the Borrower or any
collateral security or any other Person or property in respect of any First
Lien Secured Obligation or any Lien securing any First Lien Secured Obligation
or any right or power under the First Lien Security Documents and hereunder and
apply any payment or proceeds of collateral in any order of application; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(h)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>sell, exchange, release, foreclose upon or otherwise deal with
any property that may at any time be subject to any Lien securing any First
Lien Secured Obligation.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>6.2.2 </B>No (a)&nbsp;exercise, delay in exercising or failure to exercise any right arising under the
First Lien Security Documents or this Agreement, (b)&nbsp;act or omission of any First Lien Secured
Party in respect of the Borrower or any other Person or any collateral security for any First Lien
Secured Obligation or any right arising under the First Lien Security
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->26<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Documents and hereunder, (c)
change, impairment, or suspension of any right or remedy of any First Lien Secured Party, or (d)
other act, failure to act, circumstance, occurrence or event, including, without limitation, the
acts listed in <U>Section&nbsp;6.2.1</U>, which, but for this provision, would or could act as a
release or exoneration of the agreements or obligations of any Second Lien Secured Party hereunder
shall in any way affect, decrease, diminish or impair any of such agreements or obligations,
including, without limitation, the Lien subordination provisions and the standstill obligations set
forth in <U>Sections&nbsp;4.1</U> and <U>5.1</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>6.2.3 Waivers and Deferrals of Payments</B>. Any Project Credit Party may, without the consent of the
other Project Credit Parties, defer any payments due under its Class of Secured Obligations or
waive any provisions thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>6.3 Limitation of Liability</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>6.3.1 </B>Except as expressly set forth herein (and, with respect to any rights or obligations
among Secured Parties within the same Class, in their respective Facility Agreements), no Secured
Party will have any duty, express or implied, fiduciary or otherwise, to any other Secured Party.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>6.3.2 </B>To the maximum extent permitted by law, each Second Lien Secured Party waives any claim
it may have against any First Lien Secured Party with respect to or arising out of any action or
failure to act or any error of judgment or negligence (but not gross negligence, willful misconduct
or any breach of this Agreement) on the part of any First Lien Secured Party or their respective
directors, officers, employees or agents with respect to any exercise of rights or remedies in
respect of the Secured Obligations or under any Security Documents or any transaction relating to
the Collateral. Neither any First Lien Secured Party nor any of their respective directors,
officers, employees or agents will be liable for failure to demand, collect or realize upon any of
the Collateral or for any delay in doing so, except to the extent arising out of breach of this
Agreement by or out of the gross negligence or willful misconduct of such Secured Party or any of
their respective directors, officers, employees or agents, or will be under any obligation to sell
or otherwise dispose of any Collateral upon the request of the Borrower or upon the request of any
Second Lien Secured Party or any other Person or to take any other action whatsoever with regard to
the Collateral or any part thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>6.3.3 </B>Each Second Lien Secured Party (subject to its respective Facility Agreement) shall be
responsible for keeping itself informed of the financial condition of the Borrower and its
affiliates and all other circumstances bearing upon the risk of nonpayment of
any Secured Obligations. Except as set forth in <U>Section&nbsp;5.3</U>, no First Lien Secured
Party shall have any duty to advise any other Project Credit Party of information regarding such
condition or circumstances or as to any other matter. Subject, with respect to any rights and
obligations among Secured Parties of the same Class, to the provisions of their respective Facility
Agreements, if any Secured Party, in its sole discretion, undertakes at any time or from time to
time to provide any such information to any other Secured Party, it shall be under no obligation to
provide any similar information on any subsequent occasion, to provide any additional information,
or undertake any investigation, or to disclose any information which, pursuant to accepted or
reasonable commercial finance practice, it wishes to maintain confidential.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->27<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>7.&nbsp;Insolvency or Liquidation Proceedings</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>7.1 Right to File Involuntary Bankruptcy</B>. Notwithstanding any other provision of this Agreement
to the contrary, any Project Credit Party shall be entitled, at any time and at its sole
discretion, to initiate or join as a petitioning creditor in an involuntary Insolvency or
Liquidation Proceeding against the Borrower; <U><I>provided</I></U>, <U><I>however</I></U>, that, until the
prior Discharge of all First Lien Secured Obligations, none of the Second Lien Secured Party shall,
without the prior written consent of the Collateral Agent, acting at the direction of the Required
First Lien Secured Parties, initiate or join as a petitioning creditor in an involuntary Insolvency
or Liquidation Proceeding against the Borrower.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>7.2 Certain Agreements and Consents by Second Lien Secured Parties.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>7.2.1 </B>At no time prior to the Discharge of all First Lien Secured Obligations shall any Second
Lien Secured Party:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>request judicial relief in an Insolvency or Liquidation
Proceeding or in any other court, that would hinder, delay, limit or prohibit
the exercise or enforcement of any right or remedy otherwise available to the
holders of First Lien Secured Obligations that would limit, invalidate, avoid
or set aside any Lien securing the First Lien Secured Obligations or
subordinate the Lien securing the First Lien Secured Obligations to the Liens
securing the Second Lien Secured Obligations or grant the Liens securing the
Second Lien Secured Obligations equal ranking to the Liens securing the First
Lien Secured Obligations;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>oppose or otherwise contest any motion for relief from the
automatic stay or from any injunction against foreclosure or enforcement of
Liens securing the First Lien Secured Obligations made by any holder of First
Lien Secured Obligations in any Insolvency or Liquidation Proceeding;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>oppose or otherwise contest any exercise by any holder of First
Lien Secured Obligations of the right to credit bid First Lien Secured
Obligations at any sale in foreclosure of Lien securing the First Lien Secured
Obligations; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>oppose or otherwise contest any other request for judicial
relief made in any court by any holder of First Lien Secured Obligations
relating to the enforcement of any Lien securing the First Lien Secured
Obligations.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->28<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>7.2.2 </B>If, in any Insolvency or Liquidation Proceeding prior to the Discharge of all First Lien
Secured Obligations, the First Lien Secured Parties:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>consent to any order for use of cash collateral for
payment of (i)&nbsp;expenses reasonably necessary or appropriate for the
conduct of the Project or for the preservation of the Collateral, (ii)
debt secured by Liens upon the Shared Collateral that are senior to the
Liens securing the Second Lien Secured Obligations or (iii)
administrative expenses arising in connection with the Insolvency or
Liquidation Proceeding;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>consent to any order granting any priming Lien,
replacement Lien, cash payment or other relief on account of First Lien
Secured Obligations as adequate protection (or its equivalent) for the
interests of the First Lien Secured Parties in property subject to the
Liens securing the First Lien Secured Obligations in connection with any
order for use of cash collateral; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>consent to any order relating to any sale of assets
of the Borrower and providing, to the extent the sale is to be free and
clear of Liens, that all such Liens shall attach to the proceeds of the
sale (except that the First Lien Secured Parties need not admit, consent
to or support any valuation of the Collateral alleged in support of the
allowance of any secured claim based upon the Liens securing the Second
Lien Secured Obligations),</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;then, the Second Lien Secured Parties will not oppose or otherwise contest the entry of such
order, except that any such order relating to a sale of assets may be opposed or otherwise
contested by them based on any ground that may be asserted by a holder of unsecured claims (but not
on any grounds arising from or relating to any Lien securing the Second Lien Secured Obligations or
any secured claim or secured creditor rights based on any Lien securing the Second Lien Secured
Obligations, <U><I>provided</I></U> that such sale is conducted in good faith and otherwise in accordance
with applicable law).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>7.2.3 </B>If, in any Liquidation or Insolvency Proceeding, debt obligations of the reorganized
debtor secured by Liens upon any property of the reorganized debtor are distributed pursuant to a
plan of reorganization or similar dispositive restructuring plan, on more than one Class of Secured
Obligations, then, to the extent the debt obligations distributed on such account are secured by
Liens upon the same property, the provisions of this Agreement will survive the distribution of
such debt obligations pursuant to such plan and will apply with like effect to the Liens securing
such debt obligations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>7.2.4 </B>The Second Lien Secured Parties will not assert or enforce, at any
time prior to the Discharge of the First Lien Secured Obligations, any claim under &#167;506(c) of
the United States Bankruptcy Code with respect to the Liens securing the First Lien Secured
Obligations for costs or expenses of preserving or disposing of any Shared Collateral.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->29<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>7.2.5 </B>If, for purposes of valuation of the secured claims of the First Lien Secured Parties in
any Insolvency or Liquidation Proceeding, the First Lien Secured Parties determine, and the
Collateral Agent or any other First Lien Secured Party notifies any Project Credit Party on behalf
of any Class of Second Lien Secured Obligations, that the Collateral should be valued as of any
particular time in the period from the date of commencement of such Insolvency or Liquidation
Proceeding to the date of confirmation of any plan of reorganization or other dispositive
restructuring plan therein, then the Second Lien Secured Parties shall not oppose or otherwise
contest that the date as of which such secured claims should be valued is the date chosen by the
First Lien Secured Parties. The Second Lien Secured Parties shall not have the right to assert the
lack of adequate protection of their Liens or the collateral securing the Second Lien Secured
Obligations as a basis for opposing a motion or other relief sought in any Insolvency or
Liquidation Proceeding and approved by the First Lien Secured Parties.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>7.2.6 </B>If, in connection with the approval by creditors of any plan of reorganization or other
dispositive restructuring plan in any Insolvency or Liquidation Proceeding, either:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>secured claims based upon the Second Lien
Secured Obligations are classified in the same class of secured claims
as secured claims based upon the First Lien Secured Obligations; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>secured claims based upon the Second Lien
Secured Obligations are classified in a separate class from secured
claims based upon the First Lien Secured Obligations and are treated
under such plan as an impaired secured class, and such plan could not
lawfully be confirmed or approved by the court in such Insolvency or
Liquidation Proceeding unless the class of secured claims based upon
the Second Lien Secured Obligations votes, as a class or as classes, to
accept such plan;</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;then the holders of secured claims based upon the Second Lien Secured Obligations shall not
vote such secured claims to accept such plan if: (i)&nbsp;the Collateral Agent or any other First Lien
Secured Party notifies the holders of such secured claims (in such manner and to such Person at
such addresses as each Project Credit Party on behalf of any Class of Second Lien Secured
Obligations may direct), at least five (5)&nbsp;Business Days before ballots are due in the voting on
such plan, that fewer than the holders of two-thirds in amount of secured claims based upon the
2015 Notes Secured Obligations or fewer than the holders of two-thirds in amount of secured claims
based upon Obligations under any Permitted Additional Senior Secured Debt Agreement will vote, in
each case as a separate class (or as if they were a separate class), to accept such plan, (ii)&nbsp;such
notice is not withdrawn by the Collateral Agent or any other First Lien Secured Party by written
notice to such Project Credit Party (or, if required by law, to the holders of such secured claims)
and (iii)&nbsp;such plan is not accepted by the holders of secured claims based upon the First Lien
Secured Obligations voting as a separate class (or as if they
were a separate class).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Project Credit Party on behalf of each Class of Second Lien Secured Obligations shall
provide the Collateral Agent with such information as may be available to such

<P align="center" style="font-size: 10pt"><!-- Folio -->30<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Project Credit Party
as to the names and notice addresses of the holders of secured claims based upon such Class of
Second Lien Secured Obligations. The notice described in clause (i)&nbsp;of the preceding paragraph
shall be conclusively deemed sufficiently given if mailed by ordinary mail, postage prepaid, to
such names and addresses. No ballot voting a secured claim based upon any of the Second Lien
Secured Obligations shall be delivered in respect of any such plan by any holder of secured claims
based upon any of the Second Lien Secured Obligations prior to the last date on which the notice
described in clause (i)&nbsp;may be given. Any ballot cast in violation of this <U>Section&nbsp;7.2.6</U>
will be invalid.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>7.2.7 </B>Until the Discharge of the First Lien Secured Obligations has occurred, if the Borrower
shall be subject to any Insolvency or Liquidation Proceeding and the Collateral Agent shall, acting
in accordance with the First Lien Documents, agree to permit the use of &#147;Cash Collateral&#148; (as such
term is defined in Section 363(a) of the Bankruptcy Code), on which a Lien has been granted to the
Collateral Agent pursuant to the First Lien Documents or to permit the Borrower to obtain
financing, whether from any of the First Lien Secured Parties or any other Person under Section&nbsp;364
of the Bankruptcy Code or any similar Bankruptcy Law (&#147;<B><I>DIP Financing</I></B>&#148;), then each Second Lien
Secured Party agrees that it will raise no objection to such Cash Collateral use or DIP Financing
so long as such Cash Collateral use or DIP Financing meet the following requirements: (a)&nbsp;it is on
commercially reasonable terms, (b)&nbsp;each Second Lien Secured Party retains the right to object to
any ancillary agreements or arrangements regarding the Cash Collateral use or the DIP Financing
that are materially prejudicial to their interests in the Shared Collateral, and (c)&nbsp;the terms of
the DIP Financing (i)&nbsp;do not compel the Borrower to seek confirmation of a specific plan of
reorganization for which all or substantially all of the material terms are set forth in the DIP
Financing documentation or a related document and (ii)&nbsp;do not expressly require the liquidation of
the Shared Collateral prior to a default under the DIP Financing documentation or Cash Collateral
order. To the extent the Liens securing the First Lien Secured Obligations are subordinated to or
pari passu with such DIP Financing which meets the requirements of clauses (a)&nbsp;through (c)&nbsp;above,
each Second Lien Secured Party will subordinate any Liens in the Shared Collateral to the Liens
securing such DIP Financing (and all Obligations relating thereto). Each Second Lien Secured Party
agrees that, so long as it is actually receiving adequate protection on a current basis (and cash
payments included therein are not being deferred), it shall not directly or indirectly propose or
support any DIP Financing which the Collateral Agent on behalf of the First Lien Secured Parties
has not approved. For purposes of this <U>Section&nbsp;7.2.7</U> only, any adequate protection that is
either not requested or affirmatively waived by the Second Lien Secured Parties shall be deemed to
be received by the Second Lien Secured Parties. If the bankruptcy court hearing any motion of the
Second Lien Secured Parties for allowance of adequate protection does not approve same, such
disapproval shall constitute a failure to receive same under this <U>Section&nbsp;7.2.7</U>, unless
cured by the Collateral Agent on behalf of the First Lien Secured Parties, who shall have the right
but not the obligation to do so.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>8.&nbsp;Application of Proceeds of Shared Collateral.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>8.1 Application of Proceeds Generally</B>. Other than (a)&nbsp;the Net Proceeds from any Asset Sale and
(b)&nbsp;the Net Loss Proceeds from any Event of Loss, in each case involving any or all of the Shared
Collateral or the First Lien Shared Collateral, both of which shall be applied in accordance with
the 2015 Notes Indenture or, in the case of any such Net Loss

<P align="center" style="font-size: 10pt"><!-- Folio -->31<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Proceeds prior to the termination of
the Disbursement Agreement, in accordance with the Disbursement Agreement, all monies collected by
the Collateral Agent or any other Secured Party upon any sale or other disposition of any Shared
Collateral or any First Lien Shared Collateral pursuant to the enforcement of any of the First Lien
Security Documents with respect to Shared Collateral or First Lien Shared Collateral or the
exercise of any of the remedial provisions thereof, together with all other monies received by the
Collateral Agent or any other Secured Party hereunder or under any Security Document with respect
to Shared Collateral or First Lien Shared Collateral (x)&nbsp;as a result of any such enforcement or the
exercise of any such remedial provisions or (y)&nbsp;as a result of any distribution of any Shared
Collateral or any First Lien Shared Collateral upon the bankruptcy, arrangement, receivership,
assignment for the benefit of creditors or any other action or proceeding involving the
readjustment of the obligations and Indebtedness of the Borrower, or the application of any Shared
Collateral or any First Lien Shared Collateral to the payment thereof, any distribution of the
Shared Collateral or the First Lien Shared Collateral upon the liquidation or dissolution of the
Borrower or the winding up of the assets or business of the Borrower, or any distribution made
under such circumstances on or in connection with any Facility Agreement or otherwise payable under
such circumstances under any Security Document with respect to Shared Collateral or the First Lien
Shared Collateral, shall be applied as follows:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With respect to Shared Collateral:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>first, to the payment of all amounts owing to the Collateral
Agent in the event of any proceeding for the collection or enforcement of any
Indebtedness or payment obligations of the Borrower, after an Event of Default
under the 2015 Notes Indenture shall have occurred and be continuing, the
reasonable expenses of re-taking, holding, preparing for sale or lease, selling
or otherwise disposing of or realizing on the Shared Collateral, or of any
exercise by the Collateral Agent of its rights hereunder or under the First
Lien Security Documents with respect to Shared Collateral, together with
reasonable attorneys&#146; fees and court costs;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>second, to the extent proceeds remain after the application
pursuant to the preceding clause (i), an amount equal to the outstanding
Primary Obligations shall be paid to the First Lien Secured Parties as provided
in <U>Section&nbsp;8.2</U>, with each Class of First Lien Secured Parties
collectively receiving an amount equal to their respective aggregate
outstanding Primary Obligations or, if the proceeds are insufficient to pay in
full in cash all such Primary Obligations, their respective Pro Rata Share of
the amount remaining to be distributed;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>third, to the extent proceeds remain after the application
pursuant to the preceding clauses (i)&nbsp;and (ii), an amount equal to the
outstanding
Secondary Obligations shall be paid to the First Lien Secured Parties as
provided in <U>Section&nbsp;8.2</U>, with each Class of First Lien Secured
Parties collectively receiving an amount equal to their respective aggregate
outstanding Secondary Obligations or, if the proceeds are insufficient to
pay in full in cash all such Secondary Obligations, their respective Pro</TD>
</TR>


</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->32<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Rata Share of the amount remaining to be distributed;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iv)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>fourth, to the extent proceeds remain after the application
pursuant to the preceding clauses (i)&nbsp;through (iii), inclusive, an amount equal
to the outstanding Primary Obligations shall be paid to the Second Lien Secured
Parties as provided in <U>Section&nbsp;8.2</U>, with each Class of Second Lien
Secured Parties collectively receiving an amount equal to their respective
aggregate outstanding Primary Obligations or, if the proceeds are insufficient
to pay in full all such Primary Obligations, their respective Pro Rata Share of
the amount remaining to be distributed;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(v)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>fifth, to the extent proceeds remain after the application
pursuant to the preceding clauses (i)&nbsp;through (iv), inclusive, an amount equal
to the outstanding Secondary Obligations shall be paid to the Second Lien
Secured Parties as provided in <U>Section&nbsp;8.2</U>, with each Class of Second
Lien Secured Parties collectively receiving an amount equal to their respective
aggregate outstanding Secondary Obligations or, if the proceeds are
insufficient to pay in full in cash all such Secondary Obligations, their
respective Pro Rata Share of the amount remaining to be distributed;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(vi)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>sixth, to the extent proceeds remain after the application
pursuant to the preceding clauses (i)&nbsp;through (v), inclusive, and following
the termination of this Agreement pursuant to the terms hereof, to the
Borrower under its respective Security Documents, or to whomever may be
lawfully entitled to receive such surplus;</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With respect to First Lien Shared Collateral:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>first, to the payment of all amounts owing to the Collateral
Agent in the event of any proceeding for the collection or enforcement of any
Indebtedness or payment obligations of the Borrower, after an Event of Default
shall have occurred and be continuing, the reasonable expenses of re-taking,
holding, preparing for sale or lease, selling or otherwise disposing of or
realizing on the First Lien Shared Collateral, or of any exercise by the
Collateral Agent of its rights hereunder or under the First Lien Security
Documents with respect to First Lien Shared Collateral, together with
reasonable attorneys&#146; fees and court costs;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>second, to the extent proceeds remain after the application
pursuant to the preceding clause (i), an amount equal to the outstanding
Primary Obligations shall be paid to the First Lien Secured Parties as provided
in <U>Section&nbsp;8.2</U>, with each Class of First Lien Secured Parties
collectively
receiving an amount equal to their respective aggregate outstanding Primary
Obligations or, if the proceeds are insufficient to pay in full in cash all
such Primary Obligations, their respective Pro Rata Share of the amount
remaining to be distributed;</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->33<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>third, to the extent proceeds remain after the application
pursuant to the preceding clauses (i)&nbsp;and (ii), an amount equal to the
outstanding Secondary Obligations shall be paid to the First Lien Secured
Parties as provided in <U>Section&nbsp;8.2</U>, with each Class of First Lien
Secured Parties collectively receiving an amount equal to their respective
aggregate outstanding Secondary Obligations or, if the proceeds are
insufficient to pay in full in cash all such Secondary Obligations, their
respective Pro Rata Share of the amount remaining to be distributed;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iv)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>fourth, to the extent proceeds remain after the application
pursuant to the preceding clauses (i)&nbsp;through (iii), inclusive, and following
the termination of this Agreement pursuant to the terms hereof, to the Borrower
under its respective Security Documents, or to whomever may be lawfully
entitled to receive such surplus.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>8.2 Certain Terms. </B>For purposes of this Agreement (a) &#147;<B><I>Pro Rata Share</I></B>&#148; means, when calculating
each Class of Secured Parties&#146; respective portions of any distribution or amount, the amount
(expressed as a percentage) equal to a fraction the numerator of which is the then aggregate unpaid
amount of the Primary Obligations or Secondary Obligations, as the case may be, owed to such Class
of Secured Parties and the denominator of which is the then outstanding amount of all Primary
Obligations or Secondary Obligations, as the case may be, (b) &#147;<B><I>Primary Obligations</I></B>&#148; means all
Obligations under such Class of Secured Obligations, in each case excluding indemnities, fees
(including, without limitation, attorneys&#146; fees) and similar obligations and liabilities (except,
with respect to Lakes or any successor, assign or transferee of any portion of the Lakes
Obligations, &#147;Primary Obligations&#148; shall include, without limitation, the management fee and other
Development and Management Agreement Obligations) and (c) &#147;<B><I>Secondary Obligations</I></B>&#148; means all other
obligations owed to such Class of Secured Parties other than Primary Obligations; <U><I>provided</I></U>,
<U><I>however</I></U>, that the principal amount will be calculated without duplication of the underlying
obligation for any guarantees.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>8.3 Sharing of Non-Pro Rata Payments. </B>Each First Lien Secured Party agrees that in the event any
First Lien Secured Party shall obtain payment that is not a Pro Rata Payment of any amounts due to
it on or in respect of any First Lien Secured Obligations and such payment arises from the items or
circumstances listed in items (a), (b)&nbsp;or (c)&nbsp;below, then such First Lien Secured Party shall
promptly remit to the Collateral Agent for distribution to other First Lien Secured Parties the
portion of such payment necessary to ensure that each First Lien Secured Party shall have received
a Pro Rata Payment; <U><I>provided</I></U> that, if at such time redistribution of such payment in such
manner is inadvisable in the reasonable judgment of the Collateral Agent, then at the
request of such First Lien Secured Party, the Project Credit Parties representing such First
Lien Secured Parties shall promptly consult with each other to determine whether there is a
preferable manner to make equitable adjustments (including the purchase by such First Lien Secured
Parties) to permit all First Lien Secured Parties to share such payment (net of expenses incurred
by the recipient First Lien Secured Party in obtaining or preserving such payment) pro rata (in
accordance with the definition of Pro Rata Payment). If any such redistributed or shared payment
is rescinded or must otherwise be restored by the First Lien Secured Party who originally obtained
such payment, then each First Lien Secured Party which shares the benefit of such payment shall
return to such First Lien Secured Party its portion of the
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->34<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">payment so rescinded or required to be
restored. The payments that are subject to the foregoing provisions are those that: (a)&nbsp;arise from
any exercise of a right of setoff, banker&#146;s Lien or counterclaim, or from any security or from any
realization (whether through attachment, foreclosure or otherwise) of assets of the Borrower, (b)
are made after an Event of Default has occurred and is continuing, or (c)&nbsp;are made in connection
with the events or circumstances described in <U>Section&nbsp;3.09</U> of the 2015 Notes Indenture, but
in the case of this clause (c), only to the extent that a prepayment of principal outstanding under
any Class of First Lien Secured Obligations is required in connection with the same events or
circumstances.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>8.4 Overpayments. </B>When payments to Secured Parties are based upon their respective Pro Rata
Shares, the amounts received by such Secured Parties hereunder shall be applied (for purposes of
making determinations under this <U>Section&nbsp;8</U> only) (a)&nbsp;first, to their Primary Obligations
and (b)&nbsp;second, to their Secondary Obligations. If any payment to any Secured Party of its Pro
Rata Share of any distribution would result in overpayment to such Secured Party, then (x)&nbsp;such
Secured Party shall promptly notify the other Secured Parties within the same Class as such Secured
Party of such overpayment and (y)&nbsp;the amount of such overpayment shall instead be distributed in
respect of the unpaid Primary Obligations or Secondary Obligations, as the case may be, of the
other Secured Parties of such Class. Each Secured Party of such Class whose Primary Obligations or
Secondary Obligations, as the case may be, have not been paid in full shall receive an amount equal
to such overpayment amount multiplied by a fraction the numerator of which is the unpaid Primary
Obligations or Secondary Obligations, as the case may be, of such Secured Party and the denominator
of which is the unpaid Primary Obligations or Secondary Obligations, as the case may be, of all
Secured Parties entitled to such distributions.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>8.5 Payment to Class&nbsp;Representatives. </B>All payments required to be made under this <U>Section
8</U> shall be made, with respect to each Class of Secured Parties, to the Project Credit Party
acting on behalf of such Class. Each such Project Credit Party shall apply such funds in
accordance with its respective Facility Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>9.&nbsp;Representations and Warranties. </B>Each party hereto represents and warrants to each other party
as follows:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>9.1 Organization. </B>It is duly organized and is validly existing under the laws of the jurisdiction
under which it was organized with full power to execute, deliver, and perform this Agreement and
consummate the transactions contemplated hereby.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>9.2 Authorization. </B>All actions necessary to authorize the execution, delivery and performance of
this Agreement on behalf of such party have been duly taken, and all such actions continue in full
force and effect as of the date hereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>9.3 Binding Agreement. </B>It has duly executed and delivered this Agreement and this Agreement
constitutes the legal, valid, and binding agreement of such party enforceable in accordance with
its terms and subject to (a)&nbsp;Bankruptcy Laws, and (b)&nbsp;principles of equity, which may apply
regardless of whether a proceeding is brought in law or in equity.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>9.4 No Consent Required. </B>To the best of its knowledge, no consent of any
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->35<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">other party and no
consent, license, approval, or authorization of, or exemption by, or registration or declaration or
filing with, any governmental authority, bureau or agency is required in connection with the
execution, delivery, or performance by such party of this Agreement or consummation by such party
of the transactions contemplated by this Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>9.5 No Conflict. </B>None of the execution, delivery, and performance of this Agreement nor the
consummation of the transactions contemplated by this Agreement will (a)&nbsp;violate or conflict with
any provision of the organizational or governing documents, if any, of such party; (b)&nbsp;to the best
of its knowledge, violate, conflict with, or result in the breach or termination of, or otherwise
give any other contracting party the right to terminate, or constitute (or with notice or lapse of
time, or both, would constitute) a default under the terms of any contract, mortgage, lease, bond,
indenture, agreement, or other instrument to which such party is a party or to which any of its
properties are subject; (c)&nbsp;to the best of its knowledge, result in the creation of any Lien,
charge, encumbrance, mortgage, lease, claim, security interest, or other right or interest upon the
properties or assets of such party pursuant to the terms of any such contract, mortgage, lease,
bond, indenture, agreement, franchise, or other instrument; (d)&nbsp;violate any judgment, order,
injunction, decree, or award of any court, arbitrator, administrative agency, or governmental or
regulatory body of which it has knowledge against, or binding upon such party or upon any of the
securities, properties, assets, or business of such party; or (e)&nbsp;to the best of its knowledge,
constitute a violation by such party of any statute, law, or regulation that is applicable to such
party.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>9.6 Jury Trial Waiver. </B>Each party hereto agrees not to elect a trial by jury of any issue triable
of right by jury, and waives any right to trial by jury fully to the extent that any such right
shall now or
hereafter exist with regard to this Agreement, or any claim, counterclaim or other action
arising in connection herewith. This waiver of right to trial by jury is given knowingly and
voluntarily by each party, and is intended to encompass individually each instance and each issue
as to which the right to a trial by jury would otherwise accrue.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>10.&nbsp;Miscellaneous Provisions.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>10.1 Notices; Addresses. </B>Any communications between the Project Credit Parties hereto or notices
herein to be given may be given to the following addressees:
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">If to the 2015 Notes Indenture Trustee:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The Bank of New York Trust Company, N.A.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">2 North LaSalle Street</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Suite&nbsp;1020</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chicago, IL 60602</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Attention: Corporate Trust</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">If to Lakes:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Lakes KAR-Shingle Springs, LLC</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Lakes Entertainment, Inc.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->36<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">130 Cheshire Lane</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Minnetonka, Minnesota 55305</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Attention: Timothy J. Cope, President</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">with a copy to:</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Lakes Entertainment, Inc.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">130 Cheshire Lane</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Minnetonka, Minnesota 55305</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Facsimile: (952)&nbsp;449-9353</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Attention: Damon Schramm, General Counsel</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">with a copy to:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Hamilton Quigley &#038; Twait, PLC</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">First National Bank Building, Suite&nbsp;W1450</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">332 Minnesota Street</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Saint Paul, Minnesota 55101</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Attention: Kevin Quigley</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">with a copy to:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Gray, Plant, Mooty, Mooty &#038; Bennett, P.A.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">500 IDS Center</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">80 South Eighth Street</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Minneapolis, Minnesota 55402-3796</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Attention: Daniel R. Tenenbaum</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">If to the Collateral Agent:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The Bank of New York Trust Company, N.A.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">2 North LaSalle Street</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Suite&nbsp;1020</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chicago, IL 60602</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Attention: Corporate Trust</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All notices or other communications required or permitted to be given hereunder shall be in
writing and shall be considered as properly given (a)&nbsp;if delivered in person, (b)&nbsp;if sent by
reputable overnight delivery service, (c)&nbsp;in the event overnight delivery services are not readily
available, if mailed by first class mail, postage prepaid, registered or certified with return
receipt requested or (d)&nbsp;if sent by prepaid telex, or by telecopy with correct answer back
received. Notice so given shall be effective upon receipt by the addressee, except that any
communication or notice so transmitted by telecopy or other direct written electronic means shall
be deemed to have been validly and effectively given on the day (if a Business Day and, if not, on
the next following Business Day) on which it is validly transmitted if transmitted before 4:00
p.m., recipient&#146;s time, and if transmitted after that time, on the next following Business Day;
<U><I>provided</I></U>, <U><I>however</I></U>, that if any notice is tendered to an addressee and the delivery
thereof is refused by such addressee, such notice shall be effective upon such tender. Any party
shall have the right to change its address for notice hereunder to any other location by giving of
no less
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->37<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">than twenty (20)&nbsp;days&#146; notice to the other parties in the manner set forth hereinabove.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>10.2 Further Assurances. </B>Each party hereto (a)&nbsp;shall deliver to each other party, to the
Disbursement Agent and to any Securities Intermediary such instruments, agreements, certificates
and documents as any such Person may reasonably request to confirm the validity and priority of the
Liens on and security interests in the Collateral granted pursuant to the Security Documents as
affected hereby, (b)&nbsp;shall fully cooperate with each other, with the Disbursement Agent and with
any Securities Intermediary, and (c)&nbsp;shall perform all additional acts reasonably requested by any
such Person to effect the purposes of this Agreement. Without limiting the generality of the
foregoing, Lakes shall fully cooperate with the Borrower and any other Person in connection with
the incurrence by the Borrower of Indebtedness under any proposed Permitted Additional Junior
Secured Debt Agreement, <U><I>provided</I></U> that Lakes and any other holders of the Lakes Secured
Obligations, in their sole discretion, have given their prior written consent to the incurrence of
such Indebtedness.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>10.3 Waiver. </B>Any waiver, permit, consent or approval of any kind or character on the part of any
of the parties hereto, the Disbursement Agent or any Securities Intermediary of any Event of
Default or other breach or default under this Agreement, any Security Document or any other
Facility Agreement, or any waiver on the part of any of the parties hereto, the Disbursement
Agent or any Securities Intermediary, of any provision or condition of this Agreement or any other
operative document, must be in writing and shall be effective only to the extent in such writing
specifically set forth.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>10.4 Entire Agreement. </B>As among the parties hereto, this Agreement and any agreement, document or
instrument attached hereto or referred to herein integrate all the terms and conditions mentioned
herein or incidental hereto and supersede all oral negotiations and prior writings in respect to
the subject matter hereof, all of which negotiations and writings are deemed void and of no force
and effect. As among the parties hereto, in the event of any conflict between the terms of this
Agreement and the terms of the Disbursement Agreement, the terms of this Agreement shall control.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>10.5 Governing Law. </B>This Agreement shall be governed by the laws of State of New York of the
United States of America and shall for all purposes be governed by and construed in accordance with
the laws of such state without regard to the conflict of law rules thereof other than Sections
5-1401 and 5-1402 of the New York General Obligations Law.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>10.6 Severability. </B>In case any one or more of the provisions contained in this Agreement should be
invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the
remaining provisions shall not in any way be affected or impaired thereby, and the parties hereto
shall enter into good faith negotiations to replace the invalid, illegal or unenforceable
provision.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>10.7 Headings. </B>Section headings have been inserted in this Agreement as a matter of convenience
for reference only and it is agreed that such headings are not a part of this Agreement and shall
not be used in the interpretation of any provision of this Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>10.8 Limitations on Liability. </B>In addition to requirements under <U>Section&nbsp;6.4</U>,

<P align="center" style="font-size: 10pt"><!-- Folio -->38<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">no claim
shall be made by any party hereto or any of its affiliates against any other party hereto, the
Disbursement Agent, any Securities Intermediary or any of their respective affiliates, directors,
employees, attorneys or agents for any special, indirect, consequential or punitive damages
(whether or not the claim therefor is based on contract, tort or duty imposed by law), in
connection with, arising out of or in any way related to the transactions contemplated by this
Agreement or any act or omission or event occurring in connection therewith; and each party hereto
hereby waives, releases and agrees not to sue upon any such claim for any such special, indirect,
consequential or punitive damages, whether or not accrued and whether or not known or suspected to
exist in its favor.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>10.9 Consent of Jurisdiction, Waiver of Immunity. </B>Any legal action or proceeding arising out of
this Agreement may be brought in or removed to the courts of the State of New York, in and for the
County of New York, or of the United States of America for the Southern District of New York. By
execution and delivery of this Agreement, each Project Credit Party, accepts, for its and in
respect of its property, generally and unconditionally, the jurisdiction of the aforesaid courts
for legal proceedings arising out of or in connection with this Agreement. Nothing herein shall
affect the right to serve process in any other manner including judicial or non-judicial
foreclosure of real property interests which are part of the Collateral. Each party hereto hereby
waives any right to stay or dismiss any action or proceeding under or in connection with any or all
of the Project, this Agreement or any other operative document brought before the foregoing courts
on the basis of forum non-conveniens.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>10.10 Successors and Assigns. </B>The provisions of this Agreement shall be binding upon and inure to
the benefit of the parties hereto and their respective successors and assigns; <U><I>provided</I></U>,
<U><I>however</I></U>, this Agreement shall terminate upon the Discharge of all but one of the Classes of
Secured Obligations (and each Secured Party whose Secured Obligations have been Discharged shall
cease to be a party hereto with respect to such Secured Obligations upon such Discharge). Upon the
Discharge of all but one of the Classes of Secured Obligations, the Collateral Agent or the Project
Credit Party whose Secured Obligations are last to be Discharged, as applicable, agrees to deliver
any and all Shared Collateral of which it has possession (subject to the terms of the applicable
Security Documents), either directly or through an agent, custodian or other representative as
requested by the Project Credit Party whose Secured Obligations have not been discharged, and to
notify each Securities Intermediary, each counterparty to a consent and such other Persons as such
Project Credit Party may reasonably request that such obligations have been terminated and
discharged in full.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>10.11 Counterparts. </B>This Agreement may be executed in one or more duplicate counterparts and when
signed by all of the parties hereto listed below shall constitute a single binding agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>10.12 No Third Party Beneficiaries. </B>Except for the 2015 Noteholders, any other First Lien Secured
Parties, any Second Lien Secured Parties, the Disbursement Agent and each Securities Intermediary,
the parties hereto do not intend the benefits of this Agreement to inure to the benefit of nor
shall it be enforceable by any third party (including, without limitation, the Borrower or any of
its affiliates) nor shall this Agreement be construed to make or render any party hereto liable to
any third party (including, without limitation, the Borrower or any of its
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->39<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">affiliates) for the
performance or failure to perform any obligations hereunder.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>10.13 Co-Collateral Agents; Separate Collateral Agents. </B>(a)&nbsp;If at any time or times it shall be
necessary or prudent in order to conform to
any law of any jurisdiction in which any of the Shared Collateral or the First Lien Shared
Collateral shall be located, or the Collateral Agent shall be advised by counsel, satisfactory to
it and to the 2015 Notes Indenture Trustee, that it is necessary or prudent in the interest of the
Collateral Agent or the First Lien Secured Parties to conform to such law, the Collateral Agent
shall execute and deliver all instruments and agreements necessary or proper to constitute another
bank or trust company, or one or more individuals approved by the Collateral Agent and the 2015
Notes Indenture Trustee, either to act as co-collateral agent or co-collateral agents jointly with
the Collateral Agent originally named herein or any successor or successors, or to act as a
separate or sub-collateral agent or agents of the Collateral Agent and the First Lien Secured
Parties in respect of the Shared Collateral and/or First Lien Shared Collateral. Any co-collateral
agent or separate or sub-collateral agent appointed to act with respect to the Project shall meet
the requirements for a successor Collateral Agent set forth in <U>Section&nbsp;3.9</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Every separate or sub-collateral agent (and all references herein to a &#147;separate
collateral agent&#148; shall be deemed to refer also to a &#147;sub-collateral agent&#148; or a &#147;collateral
sub-agent&#148;) and every co-collateral agent, other than any collateral agent which may be appointed
as successor to any Collateral Agent, shall, to the extent permitted by applicable law, be
appointed and act and be such, subject to the following provisions and conditions, namely:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) all rights, remedies, powers, duties and obligations conferred upon, reserved to or
imposed upon the Collateral Agent in respect of the custody, control and management of
monies, papers or securities shall be exercised solely by the Collateral Agent hereunder;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) all rights, remedies, powers, duties and obligation conferred upon, reserved or
imposed upon the Collateral Agent hereunder shall be conferred, reserved or imposed and
exercised or performed by the Collateral Agent and such separate collateral agent or
separate collateral agents or co-collateral agent or co-collateral agents, jointly or
severally, as shall be provided in the instrument appointing such separate collateral agent
or separate collateral agents or co-collateral agent or co-collateral agents, except to the
extent that, under any law of any jurisdiction in which any particular act or acts are to be
performed, the Collateral Agent shall be incompetent or unqualified to perform such act or
acts, in which event such rights, remedies, powers, duties and obligations shall be
exercised and performed by such separate collateral agent or separate collateral agents or
co-collateral agent or co-collateral agents;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) no power given hereby to, or which it is provided hereby may be exercised by, any
such separate collateral agent or separate collateral agents or co-collateral agent or
co-collateral agents shall be exercised hereunder by such separate collateral agent or
separate collateral agents or co-collateral agent or co-collateral agents except (subject to
applicable law) jointly with, or with the consent or at the direction in writing of, the
Collateral Agent;
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->40<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) all provisions of this Agreement relating to the Collateral Agent or to releases
of Collateral shall apply to any such separate collateral agent or separate collateral
agents or co-collateral agent or co-collateral agents;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) no collateral agent constituted under this <U>Section&nbsp;10.13</U> shall be
personally liable by reason of any act or omission of any other separate or co-collateral
agent or the Collateral Agent hereunder; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) subject to clause (c)&nbsp;below, the Collateral Agent at any time by an instrument in
writing, executed by it, may (x)&nbsp;accept the resignation of any such separate collateral
agent or co-collateral agent, (y)&nbsp;remove any such separate collateral agent or co-collateral
agent, and in that case, by an instrument in writing executed by the Collateral Agent, and
(z)&nbsp;appoint a successor to such separate collateral agent or co-collateral agent.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Notwithstanding any other provision of this <U>Section&nbsp;10.13</U>, the Collateral Agent
shall not appoint any separate collateral agent or co-collateral agent at the objection of any
Project Credit Party.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>10.14 Amendments.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>10.14.1 </B>Upon any refinancing of any Class of Secured Obligations, or the incurring of other
Indebtedness of the Borrower (subject to the rights of the existing Project Credit Parties under
this Agreement or their respective financing agreements with respect to any such refinancing or
other Indebtedness), the applicable lender shall be bound by the terms of this Agreement (and, with
respect to any refinancing of the 2015 Notes, the financing agreements relating thereto shall
incorporate the provisions of the 2015 Notes Indenture referenced in <U>Sections&nbsp;2.1</U> and
<U>2.3</U> with respect to permitted payments of the Lakes Obligations) and such lender, or an
agent or trustee on its behalf, and the parties hereto shall execute and deliver an amendment to
this Agreement to make such Person a party hereunder. Any such new party shall also execute any
other joinder agreements, amendments or counterparts to any existing credit or security documents
to which each of the existing party is a party, as required by such documents or as reasonably
requested by the Collateral Agent.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>10.14.2 </B>Except as otherwise set forth in this <U>Section&nbsp;10.14.2</U>, no amendment,
modification or waiver of any of the provisions of this Agreement shall be deemed to be made unless
the same shall be in a writing signed by each party hereto and, if such amendment, modification or
waiver affects the rights or obligations of the Collateral Agent, a writing signed by the
Collateral Agent.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>10.15 Additional Secured Parties. </B>Upon the entering into of any Permitted Additional Senior Secured
Debt Agreement or Permitted Additional Junior Secured Debt Agreement (subject to the rights of the
existing Secured Parties under this Agreement or their respective Facility Agreements with respect
to any such refinancing, replacement or restructuring of a Class of Secured Obligations or the
entering into of such Permitted Additional Senior Secured Debt Agreement or Permitted Additional
Junior Secured Debt Agreement, including

<P align="center" style="font-size: 10pt"><!-- Folio -->41<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">without limitation the prior consent of
Lakes and other holders of the Lakes Secured Obligations with respect to any Permitted
Additional Junior Secured Debt Agreement), a representative of the applicable lender shall execute
a joinder to this Agreement in substantially the form attached as <U>Exhibit&nbsp;A</U> hereto (each, a
&#147;<B><I>Joinder Agreement</I></B>&#148;). Upon the execution and delivery of such a Joinder Agreement by the
representative on behalf of such new lenders (and the execution by such representative of any other
joinder agreements, amendments or counterparts to any existing credit or security documents to
which each of the existing parties is a party, as required by such documents or as reasonably
requested by the Collateral Agent), (a)&nbsp;such new lenders shall become, as the case may be, a &#147;First
Lien Secured Party&#148; or a &#147;Second Lien Secured Party&#148; hereunder and (b)&nbsp;such representative shall
become a &#147;Project Credit Party&#148; hereunder, with the same force and effect as if it were originally
a party to this Agreement in such capacity. The execution and delivery of such a Joinder Agreement
shall not require the consent of any other party hereunder (other than as expressly provided
herein) so long as such addition does not otherwise give rise to an express violation of the terms
of this Agreement or any Facility Agreement, and the rights and obligations of each party hereunder
shall remain in full force and effect notwithstanding the addition of any new Project Credit Party
as a party to this Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>10.16 Legends</B>. Each Project Credit Party (to the extent that approval is not required by the
Chairman of the National Indian Gaming Commission) agrees that each Security Document pursuant to
which a security interest is granted shall include the following language:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">&#147;Notwithstanding anything herein to the contrary, the lien and security
interest granted to the First Lien Secured Party, the Second Lien Secured
Party, as applicable pursuant to this Agreement and the exercise of any
right or remedy by the First Lien Secured Party, the Second Lien Secured
Party, as applicable hereunder are subject to the provisions of the
Intercreditor and Subordination Agreement, dated as of June&nbsp;28, 2007 (as
amended, restated, supplemented or otherwise modified from time to time,
the <B>&#147;</B><B><I>Intercreditor and Subordination Agreement</I></B><B>&#148;</B>), among The Bank of New
York Trust Company, N.A., as Collateral Agent, The Bank of New York Trust
Company, N.A., as the 2015 Notes Indenture Trustee and Lakes KAR-Shingle
Springs, LLC and certain other persons which may be or become parties
thereto or become bound thereto from time to time. In the event of any
conflict between the terms of the Intercreditor and Subordination
Agreement and this Agreement, the terms of the Intercreditor and
Subordination Agreement shall govern and control (all capitalized terms
having the meanings ascribed thereto in the Intercreditor and
Subordination Agreement).&#148;
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For the avoidance of doubt, none of the Lakes Transaction Documents shall be required to
bear such legend, unless such documents are assigned to a third party.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>10.17 Trust Indenture Act. </B>The parties do not intend that the provisions of this Agreement violate
the requirements of the Trust Indenture Act of 1939, as amended.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>10.18 Reinstatement. </B>If the payment of any amount applied to any First Lien Secured Obligations is
later avoided, or rescinded (including by settlement of any claim for
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->42<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">avoidance or rescission) or
otherwise set aside, then:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to the fullest extent lawful, all claims for the payment of
such amount as First Lien Secured Obligations and, to the extent securing such
claims, all such Liens under the First Lien Security Documents will be
reinstated and entitled to the benefits hereof, and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>if a Discharge of First Lien Secured Obligations became
effective prior to such reinstatement, all obligations of the Second Lien
Secured Parties that were terminated as a result of such Discharge of First
Lien Secured Obligations shall be concurrently reinstated to the extent such
claims and Liens under the First Lien Security Documents are reinstated,
beginning on such date but prospectively only (and not retroactively), as
though no First Lien Secured Obligations or Liens under the First Lien Security
Documents had been outstanding at any time prior to such date and will remain
effective until the claims for such amount are paid in full in cash.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>10.19 Attorneys&#146; Fees</B>. Unless paid by the Borrower, the prevailing party in any dispute or
controversy hereunder shall be entitled to an award of its reasonable attorneys&#146; fees.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&#091;SIGNATURE PAGE FOLLOWS&#093;
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->43<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>IN WITNESS WHEREOF, </B>the parties hereto have caused this Agreement to be executed by
their respective officers or agents thereunto duly authorized as of the day and year first above
written.
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="42%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="16%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="5" valign="top" align="left"><U>2015 Notes Indenture Trustee</U>:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="5" valign="top" align="left"><B>THE BANK OF NEW YORK TRUST COMPANY, N.A.</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left" valign="top">/s/ Kristine E. Brustman</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name:</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">Kristine E. Brustman</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title:</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left" valign="top">Vice President</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left"><U>Lakes</U>:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left"><B>LAKES KAR-SHINGLE SPRINGS, LLC,</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">a Delaware limited liability company</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/S/ Timothy J. Cope</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name: Timothy J. Cope</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title: President and CFO</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="42%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="16%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="5" valign="top" align="left"><U>Collateral Agent</U>:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="5" valign="top" align="left"><B>THE BANK OF NEW YORK TRUST COMPANY, N.A.</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left" valign="top">/s/ Kristine E. Brustman</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name:</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">Kristine E. Brustman</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title:</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">Vice President</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Acknowledged by:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Borrower</U>:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>SHINGLE SPRINGS TRIBAL GAMING AUTHORITY,</B><BR>
a wholly-owned unincorporated instrumentality of the Shingle<BR>
Springs Band of Miwok Indians, a federally recognized Indian tribe

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="36%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/S/ Nicholas H. Fonseca</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name: Nicholas H. Fonseca</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title: Tribal Chairman</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/S/ Richard Lawson</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name: Richard Lawson</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title: Authority Chairman</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT A</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>Form of Joinder Agreement</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This JOINDER AGREEMENT, dated as of <B>&#091;&#95;&#95;&#95;&#093;</B>, 200<B>&#091;_&#093; </B>(this &#147;<B><I>Joinder Agreement</I></B>&#148;), is made
by <B>&#091;&#95;&#95;&#95;&#093;</B>, a <B>&#091;&#95;&#95;&#95;&#093; &#091;</B>identify the agent under the Permitted Additional Senior Debt
Agreement or Permitted Additional Junior Debt Agreement<B>&#093; </B>(the &#147;<B><I>New Agent</I></B>&#148;), in favor of the 2015
Notes Indenture Trustee, Lakes, any additional party thereto, from time to time, and the Collateral
Agent. Capitalized terms used but not defined herein shall have the meaning ascribed to them in
that certain Intercreditor and Subordination Agreement, dated as of &#95;&#95;&#95;, 2007 (as amended,
amended and restated, supplemented and otherwise modified from time to time, the &#147;<B><I>Intercreditor and
Subordination Agreement</I></B>&#148;), by and among the 2015 Notes Indenture Trustee, Lakes and the Collateral
Agent.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>RECITALS:</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>WHEREAS</I></B>, pursuant to the <B>&#091;</B>identify the Permitted Additional Senior Debt Agreement or Permitted
Additional Junior Debt Agreement<B>&#093; </B>(the &#147;<B><I>Additional Debt Agreement</I></B>&#148;) among <B>&#091;&#95;&#95;&#95;&#093;</B>, the New
Agent and the lenders party thereto (the &#147;<B><I>New Lenders</I></B>&#148;), the New Lenders have agreed to provide the
Borrower (the &#147;<B><I>Borrower</I></B>&#148;) credit facility in a principal amount of up to $<B>&#091;</B>&#95;&#95;&#95;<B>&#093; </B>pursuant to
the terms of the <B>&#091;</B>Permitted Additional Senior Debt Agreement/Permitted Additional Junior Debt
Agreement<B>&#093;</B>; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>WHEREAS</I></B>, as a condition to permitting the Borrowers to enter into the Additional Debt
Agreement, the New Agent on behalf of the New Lenders is required to enter into this Joinder
Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>NOW, THEREFORE</I></B>, in consideration of the premises, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the New Agent on
behalf of the New Lenders hereby agrees as follows:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>1. Intercreditor and Subordination Agreement</B>. The New Agent on its behalf and on behalf of
the New Lenders agrees that (a)&nbsp;the New Agent shall be bound by all of the terms and conditions of
the Intercreditor Agreement as a &#147;Project Credit Party&#148; thereunder, and (b)&nbsp;the New Lenders shall
be bound by all of the terms and conditions of the Intercreditor Agreement as &#147;<B>&#091;First&#093;&#091;Second&#093; </B>Lien
Secured Parties&#148; thereunder.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>2. Additional Debt Agreement</B>. The New Agent on behalf of the New Lenders hereby agrees that
the Additional Debt Agreement constitutes a &#147;<B>&#091;</B>Permitted Additional Senior Debt Agreement/Permitted
Additional Junior Debt Agreement<B>&#093;</B>&#148; under the Intercreditor Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3. Authority</B>. The New Agent represents that it has been authorized by the New Lenders to
enter into this Joinder Agreement with respect to the matters set forth herein on their behalf.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>4. Appointment</B>. The New Agent hereby designates <B>&#091;&#95;&#95;&#95;&#093; </B>as its
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">collateral agent to act as specified in the Intercreditor and Subordination Agreement and in
the Shared Security Documents.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>5. Governing Law</B>. This Agreement shall be governed by the laws of State of New York of the
United States of America and shall for all purposes be governed by and construed in accordance with
the laws of such state without regard to the conflict of law rules thereof other than Sections
5-1401 and 5-1402 of the New York General Obligations Law.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&#091;SIGNATURE PAGE FOLLOWS&#093;
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the undersigned have caused this Joinder Agreement to be duly
executed and delivered as of the date first above written.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>&#091;</B>NEW AGENT<B>&#093;</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>6
<FILENAME>c16485exv10w5.htm
<DESCRIPTION>ASSIGNMENT AND ASSUMPTION AGREEMENT
<TEXT>
<HTML>
<HEAD>
<TITLE>exv10w5</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="right" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF"><B>Exhibit 10.5</B>
</DIV>




<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<B>ASSIGNMENT AND ASSUMPTION AGREEMENT</B></DIV>


<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">This Assignment and
Assumption Agreement (&#147; <B>Assignment Agreement</B>&#148;) is made as of the 20th
day of April, 2007, by and among the Shingle Springs Band of Miwok Indians (the
&#147; <B>Tribe</B>&#148;), the Shingle Springs Tribal Gaming Authority, an unincorporated
instrumentality of the Tribe (the &#147; <B>Authority</B>&#148;), and Lakes KAR-Shingle
Springs, LLC, a Delaware limited liability company (&#147;LKAR&#148;).
</DIV>


<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
W I T N E S S E T H:
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
WHEREAS, the Tribe and LKAR entered into a First Amended and Restated Memorandum
of Agreement Regarding Gaming Development and Management Agreement dated October
13, 2003 (as amended by an Amendment dated June 16, 2004 and a Second Amendment
dated January 23, 2007, the &#147;<B>2003 Memorandum Agreement</B>&#148;);
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">WHEREAS, the
Tribe has provided for the orderly management of the Tribe&#146;s gaming operations by
establishing the Authority as an unincorporated instrumentality of the Tribe&#146;s tribal
government to conduct the Tribe&#146;s gaming operations, to own the assets of such gaming
operations and to have segregated assets and liabilities from the rest of the Tribe&#146;s tribal
government, assets and liabilities, and the Authority has now been activated (the &#147;<B>Authority
Activation</B>&#148;);
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">WHEREAS, in
connection with such Authority Activation and as part of the transfer by the Tribe to the Authority
of assets and liabilities as contemplated by such Authority Activation, the Tribe wishes to assign its
rights under the 2003 Memorandum Agreement and related documents to the Authority, and the
Authority wishes to accept such assignment and to assume the Tribe&#146;s obligations
thereunder;
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">WHEREAS, it is the
intent of the parties that the Authority Activation not affect or impair the rights and remedies of
LKAR thereunder, other than as provided herein;
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">WHEREAS, in
connection with the Authority Activation and as part of the transfer by the Tribe to the Authority of
rights and obligations under this Assignment Agreement, the Tribe has requested that LKAR
consent to the assignment and assumption set forth in this Assignment Agreement;
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">WHEREAS, LKAR
wishes to acknowledge the Authority Activation and to consent to the assignment and assumption
set for in this Assignment Agreement; and
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">WHEREAS,
contemporaneously herewith, and giving effect to this Assignment Agreement, the Authority and
LKAR are amending the 2003 Memorandum Agreement pursuant to a Third Amendment as of
even date herewith;
</DIV>




<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">Assignment &#38; Assumption Agreement<BR>
October 13, 2003 Amended Memorandum Agreement<BR>
04/20/07 execution version
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">NOW,
THEREFORE, for valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows:
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Recitals True.</U>&nbsp;&nbsp;The above
recitals are true.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Defined Terms.</U>&nbsp;&nbsp;For
purposes of this Assignment Agreement, the following terms shall have the following meanings:
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>


<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">&#147;<B>Agreements</B>&#148; means, collectively, the 2003 Memorandum
Agreement and all other Transaction Documents (as defined in the 2003 Memorandum
Agreement), as such may be further amended, restated, substituted or modified, but specifically
excluding the Tribal Agreement.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">&#147;<B>Tribal
Agreement</B>&#148; means the Tribal Agreement to be dated as of April 20, 2007, between the
Tribe and LKAR, as the same may be amended, restated, substituted or modified.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">&#147;<B>Uniform
Commercial Code</B>&#148; means the Uniform Commercial Code as in effect from time to time
in the relevant jurisdiction, including without limitation as the same may in part be adopted by the
Tribe as its secured transactions law.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Assignment of the Tribe&#146;s Rights and
Obligations Under the Agreements.</U>&nbsp;&nbsp;The Tribe grants, bargains, sells, conveys,
assigns and transfers to the Authority, without recourse, all of the Tribe&#146;s obligations and
liabilities under, and all right, title and interest, legal and equitable, in, to and under, the
Agreements (collectively, the &#147;Tribe Obligations&#148;).
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Assumption of
Obligations.</U>&nbsp;&nbsp;The Authority hereby accepts the assignment of all Tribe
Obligations and hereby assumes and agrees to perform and discharge all of the obligations and
liabilities of the Tribe arising under or relating to the Tribe Obligations in accordance with the
terms thereof, as if the Authority had originally been a party thereto.  The liabilities so assumed by
the Authority include any obligations or liabilities of the Tribe which have accrued under the Tribe
Obligations as of the date hereof, as well as those subsequently accruing.  All references to the
Tribe in or with respect to the Tribe Obligations shall be deemed to refer to the Authority.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Liens and Security
Interests.</U>&nbsp;&nbsp;The Tribe and the Authority hereby acknowledge and agree that all
security interests, collateral assignments and other liens or encumbrances (&#147;<B>Liens</B>&#148;)
granted by the Tribe in favor of LKAR (i) remain in full force and effect on the date hereof; (ii)
continue to secure all of the obligations referenced in the Agreements by which such Liens were
granted or are governed, whether such remain obligations of the Tribe or have been assumed by the
Authority;  and (iii) are binding upon the Authority as the transferee, in connection with the
Authority Activation or otherwise, of the assets subject thereto.  The Authority further
acknowledges and agrees that, in accordance with the provisions of this Assignment Agreement,
the Authority has become bound by the Agreements by which the Tribe granted such Liens; that
such Agreements accordingly are effective with respect to assets hereafter acquired by the
Authority as a &#147;new debtor&#148; (as such term is defined in the Uniform Commercial
Code); and that thereby the Authority has granted LKAR a Lien on such assets.
</DIV>





<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
Assignment &#38; Assumption Agreement<BR>
October 13, 2003 Amended Memorandum Agreement<BR>
04/20/07 execution version
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Consent of LKAR.</U>&nbsp;&nbsp;Provided that the Tribe and LKAR shall have executed and delivered
the Tribal Agreement, LKAR consents to the assignments and assumptions made under this
Assignment Agreement, recognizes the Authority as a substituted party under and with respect to
the Tribe Obligations, and agrees that the Authority shall be a party to such Tribe Obligations to the
same extent as if the Authority had originally been a party thereto.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Release of the
Tribe.</U>&nbsp;&nbsp;Provided that the Tribe and LKAR shall have executed and delivered the
Tribal Agreement, LKAR releases and forever discharges the Tribe of any and all liabilities or
obligations under the Tribe Obligations except as specifically set forth in this Section 7 below, and,
except as so provided, agrees to look solely to the Authority for performance of all obligations of
the Tribe under the Tribe Obligations.  The Tribe hereby acknowledges and agrees that,
notwithstanding the assumption by the Authority of the Tribe Obligations, the Tribe shall have
certain continuing obligations under the Agreements as provided and incorporated by reference in
the Tribal Agreement (such continuing obligations being referred to herein as the &#147;<B>Continuing Tribal Obligations</B>&#148;).
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Covenants and Representations of LKAR</U>
</DIV>

<DIV align="center" style="margin-top: 6pt">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="4%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="92%">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"> a.</TD>
    <TD align="left" valign="top">This Assignment Agreement constitutes the
legal, valid and binding obligation of LKAR and is fully enforceable in
accordance with its terms.
</TD>
</TR>

<TR style="font-size: 6pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>



<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"> b.</TD>
    <TD align="left" valign="top">Neither the execution or delivery of this
Assignment Agreement nor fulfillment of or compliance with the terms and
provisions hereof, will conflict with, or result in a breach of the terms,
conditions or provisions of, constitute a default under or, except as provided
in the Agreements, result in the creation of any lien, charge or encumbrance
upon any property or assets of LKAR under any agreement or instrument to which
it is now a party or by which it is bound.
</TD>
</TR>

<TR style="font-size: 6pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>


<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"> c.</TD>
    <TD align="left" valign="top">The fulfillment of and compliance with the
terms and provisions of the LKAR Obligations will not conflict with, result in a
breach of the terms, conditions or provisions of, constitute a default under, or
result in the creation of any lien, charge or encumbrance upon any property or
assets of LKAR under any agreement or instrument to which it is now a party or
by which it is bound.
</TD>
</TR>

<TR style="font-size: 6pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>


</TABLE>
</DIV>


<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Covenants and Representations of the Tribe
and the Authority</U>
</DIV>

<DIV align="center" style="margin-top: 6pt">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="4%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="92%">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">a.</TD>
    <TD align="left" valign="top">This Assignment Agreement constitutes the legal, valid and binding obligation of the Tribe and the Authority, and is fully enforceable in accordance with its terms.
</TD>
</TR>

<TR style="font-size: 6pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>



<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"> b.</TD>
    <TD align="left" valign="top">All Tribe Obligations constitute the legal, valid and binding obligations of the Authority, and are fully enforceable in accordance with their terms, and all Continuing Tribal Obligations shall also constitute the legal, valid and binding obligations of the Tribe, fully enforceable in accordance with their terms.
</TD>
</TR>

<TR style="font-size: 6pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</DIV>



<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
Assignment &#38; Assumption Agreement<BR>
October 13, 2003 Amended Memorandum Agreement<BR>
04/20/07 execution version
</DIV>


<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="margin-top: 6pt">
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="4%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="92%">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"> c.</TD>
    <TD align="left" valign="top">Neither the execution or delivery of this
Assignment Agreement nor fulfillment of or compliance with the terms and
provisions hereof, will conflict with, or result in a breach of the terms,
conditions or provisions of, constitute a default under or (except as
contemplated by the Agreements, as assumed by the Authority in accordance with
the provisions of this Assignment Agreement) result in the creation of any lien,
charge or encumbrance upon any property or assets of the Tribe or the Authority
under any agreement or instrument to which it is now a party or may in the
future be bound.
</TD>
</TR>

<TR style="font-size: 6pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>



<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">d.</TD>
    <TD align="left" valign="top">The fulfillment of and compliance with the
terms and provisions of the Tribe Obligations will not conflict with, result in
a breach of the terms, conditions or provisions of, constitute a default under,
or (except as contemplated by the Agreements, as assumed by the Authority in
accordance with the provisions of this Assignment Agreement) result in the
creation of any lien, charge or encumbrance upon any property or assets of the
Tribe or the Authority under any agreement or instrument to which either is now
a party or by which either is bound.
</TD>
</TR>

<TR style="font-size: 6pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>


<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">e.</TD>
<TD align="left" valign="top">Pursuant to the Agreements as assumed by the
Authority in accordance with the provisions of this Assignment Agreement, LKAR,
subject to the filing of any financing statement required by the Uniform
Commercial Code to be filed against the Authority to perfect any such security
interest, has a perfected security interest (i) in all personal property subject
to a security interest under such Agreements that, as a consequence of the
Authority Activation, is now owned by the Authority, to the extent a security
interest therein may be perfected by the filing of a financing statement under
the Uniform Commercial Code, and (ii) in all such personal property hereafter
acquired by the Authority, to the extent a security interest therein may be
perfected by the filing of a financing statement under the Uniform Commercial Code.
</TD>
</TR>
</TABLE>
</DIV>


<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Further
Assurances.</U>&nbsp;&nbsp;From time to time hereafter, LKAR, the Tribe and/or the Authority
will execute and deliver, or will cause to be executed and delivered, such additional instruments,
certificates or documents, and will take all such actions, as may reasonably be requested by the
other party or parties, for the purpose of implementing or effectuating the provisions of this
Assignment Agreement.  Without limiting the generality of the foregoing, LKAR is hereby
authorized to file one or more financing statements, and continuations thereof and amendments
thereto, relative to the personal property in which a security interest has been granted pursuant to
the Agreements, as assumed by the Authority in accordance with the provisions of this Assignment
Agreement.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing Law;
Severability.</U>&nbsp;&nbsp;This Assignment Agreement shall be construed in accordance with
the applicable laws of the State of California, without regard to its conflict of laws provisions, and
applicable Tribe and federal laws.  Wherever possible each provision of this Assignment
Agreement shall be interpreted in such manner as to be effective and valid under applicable law,
but if any provisions of this Assignment Agreement shall be prohibited by, unenforceable or invalid
under applicable law, such provision shall be ineffective to the extent of such prohibition,
unenforceability or invalidity, without invalidating the remainder of such provision or the
remaining provisions of this Assignment Agreement.
</DIV>





<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
Assignment &#38; Assumption Agreement<BR>
October 13, 2003 Amended Memorandum Agreement<BR>
04/20/07 execution version
</DIV>


<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Amendments, Assignments,
Etc.</U>&nbsp;&nbsp;Any provision of this Assignment Agreement may be amended if, but only
if, such amendment is in writing and is signed by each of the parties hereto.  No modification shall
be implied from course of conduct.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Gender and Number;
Counterparts.</U>&nbsp;&nbsp;Whenever the context so requires the masculine gender shall
include the feminine and/or neuter and the singular number shall include the plural, and conversely
in each case.  This Assignment Agreement may be executed in separate counterparts and said
counterparts shall be deemed to constitute one binding document.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notices.</U>&nbsp;&nbsp;LKAR agrees
that any notice or demand upon it shall be deemed to be sufficiently given or served if it is in
writing and is personally served or in lieu of personal service is mailed by first class certified mail,
postage prepaid, or be overnight mail or courier service, addressed to LKAR at the address of
LKAR and with copies as set forth in Section 10.3 of the 2003 Memorandum Agreement.  Notice
to the Tribe and the Authority shall be given as provided in Section 10.3 of the 2003 Memorandum
Agreement.  Any notice or demand so mailed shall be deemed received on the date of actual
receipt, on the third business day following mailing as herein set forth or one day following
delivery to a courier service, whichever first occurs.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Arbitration; Limited Waiver of Sovereign
Immunity.</U>&nbsp;&nbsp;Any disputes under this Assignment Agreement shall be subject to
the dispute resolution procedures contained in Section 11.3 of the 2003 Memorandum Agreement
and the limited waivers of sovereign immunity contained in each of Authority Resolution 2007-o1
and Tribal Resolution 2007-18 concerning approval of this Assignment Agreement
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Ratification of
Obligations.</U>&nbsp;&nbsp;LKAR, the Tribe, and the Authority each ratify and confirm their
respective obligations under the Agreements.
</DIV>


<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
[Signature page follows]
</DIV>




<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
Assignment &#38; Assumption Agreement<BR>
October 13, 2003 Amended Memorandum Agreement<BR>
04/20/07 execution version
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->5<!-- /Folio -->
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">IN WITNESS
WHEREOF, the parties hereto have caused this Assignment and
Assumption Agreement to be
executed as of the day first above written.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE cellspacing="0" border="0" cellpadding="0" width="100%" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="50%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="23%">&nbsp;</TD>
    <TD width="23%">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&nbsp;</TD>
    <TD colspan="3" align="left"> SHINGLE SPRINGS BAND OF MIWOK INDIANS </TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>


<TR valign="top">
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">By:</TD>
    <TD nowrap align="left">/S/ Richard  H. Fonseca </TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">Its Chairman </TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>


<TR valign="top">
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>


<TR valign="top">
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">By:</TD>
    <TD nowrap align="left">/S/ Jessica Godsey </TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left"> Its Secretary </TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&nbsp;</TD>
    <TD colspan="3" align="left">SHINGLE SPRINGS TRIBAL GAMING AUTHORITY </TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>


<TR valign="top">
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">By:</TD>
    <TD nowrap align="left">/S/ Richard Lawson </TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">Its Management Board Chairman </TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>


<TR valign="top">
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>


<TR valign="top">
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">By:</TD>
    <TD nowrap align="left">/S/ Beth Ann Bodi </TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">Its Secretary </TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>


<TR valign="top">
    <TD nowrap align="left">&nbsp;</TD>
    <TD colspan="3" align="left"> LAKES KAR-SHINGLE SPRINGS, LLC </TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>


<TR valign="top">
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">By:</TD>
    <TD nowrap align="left">/S/ Timothy J. Cope </TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left"> Timothy J. Cope </TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left"> Its President</TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>

</TABLE>





<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
Assignment &#38; Assumption Agreement<BR>
October 13, 2003 Amended Memorandum Agreement<BR>
04/20/07 execution version
</DIV>


<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->6<!-- /Folio -->
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>7
<FILENAME>c16485exv99w1.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Exhibit&nbsp;99.1
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="70%"></TD>
    <TD width="5%"></TD>
    <TD width="25%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top"><IMG src="c16485lakes.gif" alt="(LAKES ENTERTAINMENT, INC.)">
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>NEWS RELEASE<BR>
Lakes Entertainment, Inc.<BR>
130 Cheshire Lane<BR>
Minnetonka, MN 55305<BR>
952-449-9092<BR>
952-449-9353 (fax)<BR>
www.lakesentertainment.com<BR>
(Nasdaq: LACO)</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>FOR FURTHER INFORMATION CONTACT:</B><BR>
Timothy J. Cope 952-449-7030<BR>
<DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
<B>FOR IMMEDIATE RELEASE:</B><BR>
Friday, June&nbsp;29, 2007 <BR>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 18pt"><B>LAKES ENTERTAINMENT, INC. ANNOUNCES CLOSING OF<BR>
FINANCING FOR THE SHINGLE SPRINGS BAND OF<BR>
MIWOK INDIANS CASINO AND PAYMENT TO LAKES</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>MINNEAPOLIS, June&nbsp;29, 2007 &#151; Lakes Entertainment, Inc. (Nasdaq: LACO) </B>announced today that on
June&nbsp;28, 2007 an affiliate of the Shingle Springs Band of Miwok Indians (&#147;Shingle Springs Tribe&#148;)
closed on a $450&nbsp;million senior note financing to fund the Foothill Oaks Casino project in Shingle
Springs, California. Immediately following the closing of this financing, Lakes was repaid
approximately $17.2&nbsp;million by the Shingle Springs Tribe for land Lakes had previously purchased on
behalf of the Shingle Springs Tribe, and for certain construction advances and certain accrued
interest.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Lakes, through a wholly-owned subsidiary, has management and development agreements with an
affiliate of the Shingle Springs Tribe to develop and manage the Foothill Oaks Casino. The
Foothill Oaks Casino will be an approximately 278,000 square foot full-service facility and is
expected to include a 88,000 square foot gaming floor featuring 2,000 gaming devices, 100 table
games and a high stakes gaming room; five high-quality restaurants; two casino bars; a childcare
facility and arcade; retail space; enclosed parking and other casino amenities. A hotel and
additional gaming space is planned for a second phase of the project. The Foothill Oaks Casino is
located approximately 35 miles from Sacramento and will be the only casino facility in the U.S.
Highway 50 corridor east of Sacramento, which is the major access route for traffic from the San
Francisco Bay area to the South Lake Tahoe area.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;We congratulate the Shingle Springs Tribe as this financing has now closed and construction has
started. We look forward to continuing our partnership with the Tribe as we build, open and
operate this exciting casino project&#148; said Tim Cope, President and CFO.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>About Lakes Entertainment</B><BR>
Lakes Entertainment, Inc. currently has development and management agreements with five separate
Tribes for casino operations in Michigan, California, and Oklahoma, for a total of eight separate
casino sites. In addition, Lakes has announced plans to develop a company owned casino resort
project in Vicksburg, Mississippi. The Company also owns approximately 61% of WPT Enterprises, Inc.
(NASDAQ: WPTE), a separate publicly held media and entertainment company principally engaged in the
development, production and marketing of gaming themed televised programming including the World
Poker Tour<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> television series, the development and operation of an online gaming
website, the licensing and sale of branded consumer products and the sale of corporate
sponsorships.
</DIV>

<P>
<DIV style="width: 100%; border: 1px solid black; padding: 11px;">



<DIV align="left" style="font-size: 8pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Private Securities Litigation Reform Act of 1995 provides a &#147;safe harbor&#148; for
forward-looking statements. Certain information included in this press release (as well as
information included in oral statements or other written statements made or to be made by Lakes
Entertainment, Inc.) contains statements that are forward-looking, such as statements relating to
plans for future expansion and other business development activities as well as other capital
spending, financing sources and the effects of regulation (including gaming and tax regulation) and
competition. Such forward-looking information involves important risks and uncertainties that could
significantly affect anticipated results in the future and, accordingly, such results may differ
from those expressed in any forward-looking statements made by or on behalf of the Company. These
risks and uncertainties include, but are not limited to, need for current financing to meet Lakes&#146;
operational and development needs; those relating to the inability to complete or possible delays
in completion of Lakes&#146; casino projects, including various regulatory approvals and numerous other
conditions which must be satisfied before completion of these projects; possible termination or
adverse modification of management or development contracts; Lakes operates in a highly competitive
industry; possible changes in regulations; reliance on continued positive relationships with Indian
tribes and repayment of amounts owed to Lakes by Indian tribes; continued contracts with the Pawnee
Nation as a result of the change in its business council membership; possible need for future
financing to meet Lakes&#146; expansion goals; risks of entry into new businesses; reliance on Lakes&#146;
management; and the fact that the WPTE shares held by Lakes are currently not liquid assets, and
there is no assurance that Lakes will be able to realize value from these holdings equal to the
current or future market value of WPTE common stock. There are also risks and uncertainties
relating to WPTE that may have a material effect on the Company&#146;s consolidated results of
operations or the market value of the WPTE shares held by the Company, including WPTE&#146;s significant
dependence on the Travel Channel as a current source of revenue and GSN as a future source of
revenue, and the risk that GSN will not exercise its options to air seasons of the WPT series
beyond Season VI; difficulty of predicting the growth of WPTE&#146;s online gaming business, which is
a relatively new industry with an increasing number of market entrants; reliance on the efforts of
CryptoLogic to develop and maintain the online gaming website in compliance with WPTE&#146;s business
model and applicable gaming laws; the potential that WPTE&#146;s television programming will fail to
maintain a sufficient audience; the risk that WPTE may not be able to protect its entertainment
concepts, current and future brands and other intellectual property rights; the risk that
competitors with greater financial resources or marketplace presence might develop television
programming that would directly compete with WPTE&#146;s television programming; risks associated with
future expansion into new or complementary businesses; the termination or impairment of WPTE&#146;s
relationships with key licensing and strategic partners; and WPTE&#146;s dependence on its senior
management team. For more information, review the Company&#146;s filings with the Securities and
Exchange Commission.
</DIV>
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>8
<FILENAME>c16485lakes.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 c16485lakes.gif
M1TE&.#EA*P&"`/<``/[^_CP\/)&1D4]/3_?W]Y^?G]O;VQ@8&!H:&EM;6UY>
M7E555?W]_;^_OQ04%%965E%1471T=!(2$K>WM_#P\'!P<#\_/[Z^OM;6UFQL
M;/S\_%)24E!04#T]/145%65E9:FIJ</#PUU=76%A8:NKJ_KZ^D5%1=34U)65
ME1,3$SL[.^CHZ&1D9):6EOO[^TI*2K*RLI.3D[FYN>/CXZ:FIJ&AH8^/CYF9
MF4)"0O3T]*ZNKHV-C7M[>S$Q,75U=<[.SEQ<7#X^/GQ\?("`@"@H*.KJZJ6E
MI5-34X:&AOCX^-S<W.?GY_+R\N'AX4U-36]O;WY^?L7%Q>SL[%145(Z.CDM+
M2_7U]1P<'.+BXO'Q\?GY^>3DY*^OK[&QL82$A)Z>GO;V]JRLK&9F9LK*RM_?
MW]W=W186%L3$Q)*2DG-S<]+2TN7EY;.SL_/S\]'1T4A(2.WM[86%A1<7%\_/
MSZBHJ"PL++:VMN;FYE=75ZJJJG]_?]#0T"(B(FEI:5E963`P,,S,S$%!04E)
M26MK:QL;&V)B8GAX>.GIZ5A86$!`0.OKZW=W=R8F)KN[N^#@X%I:6LG)R79V
M=LC(R'U]?2HJ*HN+B[6UM2LK*VYN;BDI*9R<G(>'AX*"@F!@8&AH:$Q,3-G9
MV2,C(T-#0X.#@VIJ:M[>WK2TM)24E,?'QV-C8QD9&=?7UZ.CH^[N[M75U:2D
MI"$A(1T='<;&QL'!P6=G9RXN+K"PL#0T-(&!@5]?7XB(B-/3TT9&1A`0$&UM
M;9"0D-K:VB0D))V=G2\O+XF)B<W-S9B8F#8V-N_O[YN;F[V]O=C8V')R<G%Q
M<7IZ>I>7EZ*BHB<G)SHZ.C<W-TY.3HJ*BJ"@H!\?'[BXN$='1R`@('EY>9J:
MFJ>GISDY.1X>'C,S,[JZNKR\O*VMK41$1"4E)8R,C#(R,C@X.#4U-<#`P,+"
MPBTM+<O+RQ$1$?___P``````````````````````````````````````````
M`````````````````````"'Y!```````+``````K`8(```C_`-\)'$BPH,&#
M"!,J7,BPH<.'$"-*G$BQHL6+&#-JW,BQH\>/($.*'$FRI,F3*%.J7,FRI<N7
M,&/*G$FSILV;.'/JW.E1`[0"0(,";0!`YR&A2(%:8B`2@(RD0;-<9"`.JM`)
M%5E9W<IUZQB0`(J8\H(H4"8^?&J]Z&,,`X.B&`D<<$>W+ET%<'%VL<N7+B4#
M30?TK0OL8JMH@^W&J8@@L>/'CGEX9"!)3P?(Y3)P21)W[F`%.Z%`=J=CI.#$
M@"L"\`0Y4!'&HV-#EKP1P!(QLNMZ&P,@KT2YB4'GU%!GM!#3CE-/!+!GM"V+
MC7-+MTL;(P`&)#Q/=P=%BV^(P#_K_R03^P%RU!49X(`,00OT[=NK7P30+`7\
MNDYF4`S?5SA.-K&%HH%(IPVFG$2L0.8`!A=%=Y]L\E4$AA\/VJ6"`=\UQ!]?
M_MU$3&P2`$)@<A2M80%DN608D8,5SH81`VFT:!<.;:BHT(9V=5@3`R/(AL2(
MZ$D$P"20$2(%1BS*F%B$0H:AI%TI1H1C73K2U,0?L@T`I($32:$*9$/8"%&2
M3_+%)$0`N.)!F77!(.9!4]Z54R/VQ?;-FQ<5V->!#XD`V30N9$0FFW2=^1`#
MJ1!*%RRO/12G.U7.9(-T982D)U]\-C2&!(\Y((Q&@[HC@0.DEFKJJ:BB"H5%
M;&@WF`0FX/]"QRR`0-(%,2]P^E@+>!+T:*0RT9*8-H.18"F)#P'`Q"?LP0%J
M8CA<T,"TU%9K[;76*F&1L(Y)\P43O87;6PXU]/"8"<XZ]&M.H@Q6QQ2#07!L
MD`_5,-H9O3H4Z@(Q,7&-8XBDFU`.B3@F`5;JNIHC3B6LV=<0/@P&"U,?76I7
MI@K=<0QD%>2K;V+\PI2,8Y10T&L9Y@[6"RX>KWL3%XGE\4IBI8!D<5T8)^1#
M+YUNP=&^,5&8F#@>%^#8$2TK3"5.OB1V`B"$#-:%QQ'=3%?.!XT1]6-(4-T0
MT"\!4$MBF0SH4!%R)-8#Q0RY;),@@SF010[M]L6)S<@R!$`5D&7_PD1'8+L$
M@,-]B>$U+XD%P_9";M/$P)=]@=,;"X/5@C>]"@$PRV@H>/TUR#`AX]@77@N1
M&`*.*BVG308DQD)OOR36A.<-6>T.U@,!`$8HD+U!.T.!LP3`"8ZAXG7L@R&0
M='`WM9!8`^\`H$QB8?R^D.VX"P3`,Y"9P8;U"@7/$B".0>(U%B&DKW[Z42PO
MGDU'R"Y0$[KRQ0GX"6'/$`:0.S8(9QX1WTK(EQ@:X&\BC9.)!F`QF"L$ZATE
MP%)?$''`@^A/(2ZH`&3DL(<*'D2`*0&`&AR#"0^"1W60J@D`FI"8;,!E2(.A
M1*4Z<D&$`*`+A$O,#DQH$!"F9`F."8;9_TZ2P)AL;C!I>.$X$@,#C]3P(``P
M`61483*0^#`E=1I,.'BH(10"RR63&HPU"+**Q.C!B7D["`I&HPDN%N2*)P&`
M!`?S!T6X\49>5*$4^V(&9/BJ?W8Q#PW32!``P(&!C^F`!NXX$#B>I$>.84$K
M&`FG/-)$$3FLRQ]\`P`5Q-"-3\P=``P!F138@9("<61)`-"-QTB`%&!`I:\L
M*1,`2"(Q?N!DQ/HB`0QP,93:`T7]$H,'DJBR)!JX!&1PX`A9"J2(+T&#&0V"
MBL3H8I"8&P@#W@"9*T3!F*"+B1=&DP)BQ%(DT'1)!JA7$`"T(HMVF<(O"1D]
M.HQ&#XNS8CAALO^%:<2F%L9X"TC2R1(X!&$PL9B#00!`A,%<(I]Y(B0`UG"9
MQQ!B!LY\AP!S0(,6>/2C(&T!--P(`"?)Q@(@2,(="3K`*PS&!%98:/QXJ9^-
MA!(`HQB-%TPBP!G,,3%$(&D2GI";%(S@`KWA"$M5PHW$T")#`'!&8DYI4T)N
M(1:0881[2M+3E#F&""#10-URTXDU*)66,='@8-"@(D@D!FE5Q1P`G#":/)RD
MJY`!*TB28+O$."`-.?#@4E/"S<$@=:$,^%=?0E&"N'))>Y88YF`VD-%&[G,@
M,_`J4$,"`"M$`(6..<8-&GN1P9XDL8EIU$'X-AA'.'9/`\G!V!X3"QG_H`2O
MC]%K2*SP#)=*QP.D4.U^T/J2,20F%F+"1&(F8,(:-F`T"Q@B5R\KD,SFE23#
M.\=V&+$,\)G6)#Q(C!/$U-3!=$TC-=0")2#C@:G=E;KOL&YN35*"28`V,1[X
MWG"9)Q-X#>848CI#)NF2B>:FL3F0D49E4PE?^7[UM&08Q'0\H(O??;<DY7":
MF"APHL'X+"-/!(#0N/;>P82,(`[>+$H8<($C2/8Q'NC<;X@KO"+`LRYRRYP"
M$B,##X9X&8AT3"B.-%T3&T0*OGB`DI?,Y`=X8L':`T`2ON"-%R?F"H<](7]A
M8M*^'.--`#!'8N+@8XER8C2/$.A(!)C4S$&Y_Y`N8(4R8R.'.WCMPB-)U&"*
MF3E3)$:>(*8G'`H&&?.!T\@\:6<2<#'@/4,4CUL67"82<]Z$```8B;E$S3`"
MS)*.Y@$Y.'1?3ISH0KJ!6:.Q@Y;?]Q)%W)@N$I`%0]2;F.=PFI[O<$$"2HD&
M4?.%U*4F2!MBL#7'4(,"J8NT\%#!L[Y<@;0+:49B6';K;&I/39#I01O6#-]@
M:T\&?("Q)9+-ZI8`8&0O=4B"!I/+:C]VH=*&S!-D><R=V))WCF&&^_H#$P`4
M(C$1R)<;$L.("@)3>SD(=Z>4@,IZVWL"6%7;HRNI[)4P(6W_=4@.&BT!-[@;
MMC:TQFC0,7%!==O;VO\4@,%FV#8:JP3!?(2>0]"1F$T<\.#:1/5CN$!)A_-$
M"HA)S#,25O$0TB`QPVC"0TB!RYOC.G<P\*UCP"'<GYT<Y=JKA&,B0/1RKP0`
MIAM,`J@FB\34P>G6;F>,('._C_B<)P-/S`/RA>>/$`!N@X$"U59@97=\N"(X
MSUT3&FT70H3@CF_O2)L7.A$-$'X`='=Y'$^@\+Z`@&H`(-9@&A'1M+?37I"9
M>P"OOLI)<.#TJ#_](&@'`$:(-_)%CZ,1'--!B'"`F/@+?.ZLX$]7UL"-B>\(
M71VZG(8.Q@E=Y[>YAX!?`D1D[7TA@G0EHOO<7:#O=1E&3*V.Z)8,OR^$H!W_
M`RK/%VK`WNLA]&]?3.`Y`"7F[Q.I/D%8^QB]<W_4@H.`8_`5D22\FBZ4U46Q
M9Q(`4!R#\0N>XP)FD!CA8!'R-Q!8\`VEQ'`;$7RUP1H`YSFWE!BK)X#H%T=K
MX!B-X#E15'/@\X#:DU.0P0'3]Q[=]W4J9W:+IS>XX!@QD'P<8FX[X!B'0#M]
MD!BW<()/AQ!+0&B/H0,F9($:`0`3\!AT0#6.('5\(0&@@(,+(SR=<&44@3R\
M5'40@8+:,S.080)W\"PON!*E\!C1L`0.D012)8-6N#3"<PN)4044<7V)P7D4
M`88"H0$Z%QDE-R:DMTJNYQBB4`1XP@!GYC_[QA<B_W!'@3@0!$!XE1812Y`.
MB5$-UL.'`K$*V$<7"+`")C<8@)81,^@0`!`'">8&:E9(#&`%NV8P^N6!?9$)
M"7"+N)B+NKB+O(B+;*`W9^`8"K4<>)`8%+2'0VAID3`:'%!!H<((O1B-TI@`
M-Q@1RK*`CR$'A>!+X@(`CK`(FN<8GQ!J<:@H=F$#>D-*<8-L%*&"??$'6(",
MGK<0K6!\CI$"IG!`H4(H([`<$1`;*7`+#U`(J;``MX"-D&$)5/,HYN@.Z+@0
MG:0V%@$"B7$P\OAN$:&*D%$'?^."#5D7_3@113`,#?D`6U6.'_F0"J$%&-<7
M4V`1N^`8/Q)_R:@0BK`>D/_Q*1[YD>X0DA/Q"@A9)@@0CZO&D^?($'$W&#M5
M$3F`0H](D_/($&S0;([A`62PDQ_IDT*R"8J"#9[#D.:HDC:4!XXA<Q0!`!^0
M:9&($)Q82+DP&F)PDA*QCVRBE=98`J+Q)"E@!+0#EHHBEE"TC`TDEQ.A"8F1
M`JL`E1@I$4K0DHDA!P9$$719)G8I$2[@!80G'7Q0`*=(BT9)%X!I$"5`DH,1
M!!@1`HXA`(H)<F>ICH\1"-"V(I_9DQBA`3<0#!7"#J;0@BC9D*%9$&F8&!F`
M$4O0=T]9-37)$#F`FY"Q`Y(YFY5)$2=P>]LA`5.`B!7AEX3RFP2A`S9H'=KE
M+FO_:1!M:1`P\(GN<`#P]Q"3^23161%-$`G_-QAF$`%7>1$N@`("L)_\V9_^
M^9\`&J#]*2(*40P!B@;9TQ``H`,!&@.QJ:!Z``$2.J$3:E93X0,<0*$:"@$<
MX)P2T0("&J(B"J"J5ALK]`5B<`ROY@"WD`K08&<>]&9XTIG:8XHJ0J-N9FG6
M@:.YLQRKY!'AL@(A4`,V4`W$8`.LL`XPBG5,VJ1.^J10&J52.J546J56>J58
MFJ5:NJ5<VJ5>^J5@&J9B.J9D6J9F>J9HFJ9JNJ9LVJ9N^J9P&J=R.J=T6J=V
M>J=XFJ=ZNJ=\VJ=^2A,\RJ-J&BY^FE1OAB:K@`**NJB,_^I'5.I&2G`*'M>G
M`,`%*``&.3$!`;"IG-JI2K>$NW`&SK<2<X`*'7$!`6`L8EH&9R`5&)$!`<".
M-Z&I5?`$MGJK3U`!A\`1S-`!HK@28F"''(&JJAJF:-`!)Y`1L"JK-J&I7$<2
M%1``OZH2'_`"0$JF`A``R?JJL9JI`>`#0E(4W6AI`!"M*P!FX^IFAGJC[\`"
MUAJHXBJHT2.OA$JHY#JOW2@N>J.O"AJOF?,.V7H"\LH0RPI%\RI*Y&JO&:&I
MX(HFR:":-:``4[`-;(@06+`#&Q``H]`%"E$"(,`"$"`&Q6I#.V`).3`$1U"&
M!K$$.^`$@;`#W6`CS+$(B+`!F/^@#&\""COP`PE1##M0#&10`2%;/0JA`S?0
M"K;0"4>@"XK``#0@`G@0!]MG:640!XAP!(;`<@AA!#O0!EV0"T>P"%6($%+P
M#+D0`#Q@#9AJ$06[LCMP!BL@!`L@`C?P0`M%`GT``2/`!>/9$`PK$1L0"$@0
M`$'0`0$``6N@(C^@`ISJ#`E!`9.PJ180`!U@`V\2`-L0`0&@`D19$!C0J9Y@
M0V.``QWP`E6PJ9&)$,2:$""@L6\0`),;`*23$!$P`)5`N)O*`]P`NYM*"H%8
M#$Z@`AU@N!OP`V+R`0%0#4%0N`&P`:Z`$&3P"9PJ`LPZ$6WKN0%0"0O`NP&P
M"1#%`%[_(+F;^@5]NQ!_&Q$;$`06L`DA(`,9^X0'<0AY\`BR^TT(00=!4`5A
M(`F:4`4XL*L)$0#4T`&8(`".6A!PD`='0`YYD&7M-`(!H`G`8`#=8`$)H`@)
ML;H(T;JB<`26(`M>T`$#P)L"$0$X8`*1$`(Z8`(X8`&&$`4@,`!!4%,'H0$0
M7`&S,`L^$`"&4'+(:P+;$`7*0+\QH")9``.PB@8R`$`5<;T$\;E5\`(@@`I?
MT`$60,/:\P/-2P>0(`P6``'W>1&:.@!#4,9F/`0.;!`9:PAP$0(!X`5B8JZ6
M5@@68+^5&@"GH!";&B8+X:X*D04=``1LTP<=,(P'H<$'T;J)_S"V8$`+`0#`
M!Z&Y(R"N0A``#S`@`'`*`6!K![$,`8`)V_8./&(!KGH0R)L&:^O&%5!R`:NL
MW6H0GQL`(2`0#("\LUQ(T:J'[U#)8;"PG?K+PB`F&6O(;1``BQ#'TIH04A``
M'3,04A`$"R`F`2`(!(`GU:H0%(`"DO!".\RSJINJK!L`D?!"NA``RT"[`?`*
MVD,%`5#$T6,'`5`#"2$$*I!E`%```4`#"8&\7DG+V?`!8M+*W%J]`O&Y@B!0
M`(`"`=!$!+$"`6`"T!8%*E"-8AP`"6`$&)W11N`&POS*$!0``9<0<HP07!``
MJID[>!`$Y'@0`3`(#7'-F?,6`%`*=/]@`@'@S8<,SAL<`):K/3$0``R"$!&@
M`K?\#NQ<H@#0`/%L0PF@`C0,`.H0`#-IRMKZ0@/``@HAT!?AQ`/QN:1`$"2P
MT(6TN$_5HQYTOA"1L7GA`B"M$"-]$"WPT*G'`8GPR`%<`2]MK98F!96@`#;-
MJ3AM$(AL$*UK#`3QTT$=R84\$.QL6P*AU/(,1:_K!*GW`@'@N`B!O`=RU5FM
MK:Y,T._PN8O0G6)-$,J@`D,`$FC]$!E+$&S]K`CQU@;!SF_09$HVK0;!S'FM
M$&#0!["+")&0#*EPTQFLTXD<`#=PV$!-NQ:@!HP=`([]#I"=$.00`$=@VU-M
M$,BK+0/!V0G_H=5LZ]%/'`#',1`Z4-H#H:F+\1&K[1"M/1"O[=;)C!#&$`!L
M!1&ZS1`P#46H.@(5^PZ:&]@%,=@%T;K)/1"(S=S.+1"-/1#3#466K;(.L=T$
MX=T(`=Y-+-Y=3=ZDS=#:H]1I0!`:0``/2A'MW1#O+1#Q+=+SG=-M1\L3``,E
M/A#YO1#[O5!QW0X$X0O$_<TC6^#(K=R);1`1T-S/'=T/?A`07'O1@P5<(.`$
M0>'=C=7?[=D#?1"?6]X"<=X>'CVNT+QY$046@`*^#-N%U-&NW=8V)-L%D00X
ML`$N(*X&$`"/(,UXS1`L(`B6M@,J8,A,8--0/A`$3A`&+N0*?N0._[[4"*$)
MLOM".Q``X[#/`<#=`F'A!Y&MNR`F"IL07%W0'&[>Z"T05H`#,RRN>J`"I6'6
MGJ.ICT`#KO[J-&`$8:S&`9#F9MY.BP#=_]U.4!``4(`%#*`&F!``)8H0-:X0
M?8`#8[">V@,"*H`$5J`!)P"K`2`+=CO@QDW808[@RRW41L[@T)WHD7T04L`+
M3@`#.6`%ML`+&S"J5$WI[V#I!G$#`4`'34#"7#``AD(0G1[:G[[EH1X]]#X)
MCE`"#8`#4]"Y[S`&`S!V$:&IO\RI*A#=M$X0)0#2,DOOB;"4!^$*VPL!@R`(
M`<`",SX0*G#G"Z$'`1`(2;10CA`(`2`&3__P!F\`JX\@"RHRZ`-1Z-P^Y`51
MY`MNU.'^V(H.13=@Q850"!V``Y>7$"PPZ15.Y0BAJ4'0!Z5<$#00`,.9.?V>
MY:3-L84$!Q!PN)XPN:_@&V<PS=88`B+0]F[O]D!@OPOU!")@\4!0"3*[!4!@
M`N9@::O0"9N:",P0R@C!`$!@<PPQ!PG`"_:W4!.0#93;"60`#`-@`8=W$)``
M!!1?$-@@`GGP0D8`!%I;$)70"6/[#M`0]P,Q!D``]C:D"2_`N"_@)@H!!4#0
MN0#@"XU_$&T@!B;0#!W93J:P`5MO:7$`!,&?.TH@`KTV$(T`!&:9.XJ@]`&`
M`S?0BN_P`T#P9+6D(23S$3T4L`;N#I%H8FD:L`12D:X&6_YH\CL:<`=%(-/6
MB(J69@?,0/_MY#6]P01K`!`:W@TD2!!`080)%2YDV-#A0X@1)4ZD6-'B18P4
MDR!ID='C1Y`A18XD6=)D20`3_*PXV=+E2Y@Q9<Y\N*O,09HY=>[DV=/G3Z!!
KA0XE6M3H4:1)E2YEVM3I4ZA1I4ZE6M7J5:Q9M6[EVM7K5[!AQ8X5&A``.S\_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
