COAST CASINOS INC
AMENDMENT NO. 1 TO SOUTH LAS VEGAS LLC
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<FILENAME>exhibit10_24.htm
<DESCRIPTION>AMENDMENT NO. 1 TO SOUTH LAS VEGAS LLC
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<TITLE>Exhibit 10.24 - Amendment No. 1  to the LV Blvd Property Purchase Agreement</TITLE>
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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>FIRST AMENDMENT TO
PROPERTY PURCHASE AGREEMENT </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>and </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ESCROW INSTRUCTIONS </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS
FIRST AMENDMENT TO PROPERTY PURCHASE AGREEMENT AND ESCROW INSTRUCTIONS (hereinafter
referred to as this &#147;<B>Amendment</B>&#148;) is dated and made effective as of May
15, 2002 and is made and entered into by and between COAST HOTELS AND CASINOS, INC., a
Nevada corporation (&#147;<B>BUYER</B>&#148;), SOUTH LAS VEGAS, LLC, a Delaware
limited-liability company (&#147;<B>SELLER</B>&#148;) and GREENPARK GROUP, LLC, a
Delaware limited-liability company <B>(&#147;GREENPARK</B>&#148;).  </FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>W I T N E S S E
T H</B><U></U>:  </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS</B>,
BUYER, SELLER and GREENPARK are parties to a document entitled <I>&#147;Property Purchase
Agreement and Escrow Instructions</I>&#148; dated and made effective as of October 26,
2001 relative to real property located in the Northeast Quarter (NE 1/4) of Section 29,
Township 22 South, Range 61 East, M.D.B. &amp; M in Clark County, Nevada, which document
is herein referred to as the &#147;<B>Agreement</B>&#148;; and </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS</B>,
BUYER, SELLER and GREENPARK desire to amend the Agreement as provided </FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>herein, </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>NOW,
THEREFORE</B>, in consideration of the agreements set forth below and the forebearances
occasioned by the execution of this Amendment, the parties hereto agree as follows: </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          The date &#147;February 1, 2002&#148; in Paragraph 12 of the Agreement is hereby
          amended to read &#147;May 28, 2002&quot;. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          The date &#147;December 31, 2002&quot;, in two (2) locations in Paragraph 12 of
          the Agreement is hereby amended in each instance to read &#147;April 25,
          2003&quot;. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          The phrase &#147;1.5 megawatts&#148; in Paragraph 6 of Exhibit &#147;B&#148; to
          the Agreement is hereby corrected to read &#147;15 megawatts&#148;. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          BUYER, SELLER and GREENPARK hereby ratify, reaffirm and confirm the Agreement as
          amended hereby, and GREENPARK acknowledges and agrees to its continuing
          guarantee of the obligations of SELLER under the Agreement as amended hereby,
          which guarantee is forth in Paragraph 21 of the Agreement. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          A party&#146;s agreement to this Amendment shall not be deemed, construed or
          interpreted to be an express or implied agreement by that party to any future
          waiver of a requirement for the timely performance of a duty or obligation of
          any other party under the Agreement as amended hereby. To be effective, any such
          waiver must be in writing and signed by the waiving party. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          This Amendment may be executed in counterparts, and a set of counterparts
          containing the signatures of BUYER, SELLER and GREENPARK shall have the same
          effect as a single document executed by BUYER, SELLER and GREENPARK. A facsimile
          of the signature of a person or party shall have the same force and effect as an
          original signature of that person or party. </FONT></P>


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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          The preparation, delivery and/or partial execution of this Amendment shall have
          no force or effect whatsoever, and this Amendment shall become effective onl </FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>11 </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>y upon its having been executed by
all parties for whom signature space is provided below. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>EXECUTED</B>
to be effective as of the day and year first above written. </FONT></P>

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     <TH colspan=2 align=left><FONT FACE="Times New Roman, Times, Serif" SIZE="2">"SELLER"</FONT><BR><BR></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TH>
     <TH colspan=2 align=left><FONT FACE="Times New Roman, Times, Serif" SIZE="2">"BUYER"</FONT><BR><BR></TH></TR>
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     <TD colspan=2><FONT FACE="Times New Roman, Times, Serif" SIZE="2">SOUTH LAS VEGAS, LLC,<BR>a Delaware limited liability company</FONT><BR><BR></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD colspan=2><FONT FACE="Times New Roman, Times, Serif" SIZE="2">COAST HOTELS AND CASINOS, INC.,<BR>a Nevada corporation</FONT><BR><BR></TD></TR>
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     <TD WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">By</FONT></TD>
     <TD WIDTH="40%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">/s/  PETER J. KIESECKER</FONT><HR SIZE=1 NOSHADE></TD>
     <TD WIDTH="10%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">By</FONT></TD>
     <TD WIDTH="40%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">/s/  HARLAN D. BRAATEN</FONT><HR SIZE=1 NOSHADE></TD></TR>
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     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">PETER J. KIESECKER<BR>President</FONT><BR><BR></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">HARLAN D. BRAATEN<BR>President</FONT><BR><BR></TD></TR>
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     <TD WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">By</FONT></TD>
     <TD WIDTH="45%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">/s/  J. RANDY WHEELER</FONT><HR SIZE=1 NOSHADE></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD></TR>
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     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">J. RANDY WHEELER<BR>Senior Vice President</FONT><BR><BR></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD></TR>
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     <TH colspan=2 align=left><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT><BR><BR></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TH>
     <TH colspan=2><FONT FACE="Times New Roman, Times, Serif" SIZE="2">"GREENPARK"</FONT><BR><BR></TH></TR>
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     <TD colspan=2><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT><BR><BR></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD colspan=2><FONT FACE="Times New Roman, Times, Serif" SIZE="2">GREENPARK GROUP, LLC,<BR>a Delaware limited-liability company</FONT><BR><BR></TD></TR>
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     <TD WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH="40%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH="10%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">By</FONT></TD>
     <TD WIDTH="40%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">/s/  PETER J. KIESECKER</FONT><HR SIZE=1 NOSHADE></TD></TR>
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     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT><BR><BR></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">PETER J. KIESECKER<BR>C.E.O.</FONT><BR><BR></TD></TR>
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     <TD WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH="45%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">By</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">/s/  J. RANDY WHEELER</FONT><HR SIZE=1 NOSHADE></TD></TR>
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     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD><FONT FACE="Times New Roman, Times, Serif" SIZE="2">J. RANDY WHEELER<BR>C.O.O.</FONT><BR><BR></TD></TR>
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