Letter of Credit Agreement between Exber, Inc. and Union Plaza Hotel & Casino
Exber, Inc. is providing a $1,000,000 line of credit to Union Plaza Hotel & Casino for its normal operating needs. Any credit extended under this agreement will be combined with the first mortgage note already held by Exber, Inc. The agreement is signed by the President of Exber, Inc. and is effective as of August 1, 1998.
EXHIBIT 10.01
El Cortez Hotel
600 E. Fremont
P.O. Box 680
Las Vegas, Nevada 89125
LETTER OF CREDIT
August 1, 1998
Exber, Inc. hereby makes available to the Union Plaza Hotel & Casino a line of credit in the amount of $1,000,000.00 (one million dollars) to be used for normal operating requirements as needed. Extensions of credit under this agreement will be combined with the first mortgage note held by Exber, Inc.
| /s/ JOHN D. GAUGHAN |
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| John D. Gaughan, President |
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