HomeMy WebLinkAbout2004-020 - Seventh Amendment to Lease and Development AgreementBILL N0.2004-20
ORDINANCE N0.2004-20
AN ORDINANCE AUTHORIZING AND APPROVING THE SEVENTH
AMENDMENT TO LEASE AND DEVELOPMENT AGREEMENT AND
DOCUMENTS AND ACTIONS RELATED THERETO.
WHEREAS, the City and Missouri Gaming Company ("MGC") entered into that
certain Lease and Development Agreement dated June 7, I993 as amended by Ordinance
No. 93-37 dated July 6, 1993, Ordinance No. 93-41 dated July 20, 1993, Ordinance No.
93-41 dated July 20, 1993 approving Amendment No. 3, Ordinance No. 94-12 dated
February 7, 1994 approving Amendment No. 4, and Ordinance No. 95-37 dated June 20,
1995 approving Amendment No. 5 (collectively, the "Lease") and Ordinance No. 2001-
130 dated December 13, 2001 approving Amendment No. 6, (collectively, the "Lease")
and;
WHEREAS, the City and MGC desire to further amend the Lease.
BE IT ORDAINED BY THE BOARD OF ALDERMEN FOR THE CITY OF
RIVERSIDE, MISSOURI AS FOLLOWS:
SECTION 1. The execution and delivery of the Contract, in substantially the form
attached as Exhibit A with such changes, additions and deletions as maybe approved by the
officer executing such document, such execution being conclusive proof of such approval,
the performance of City obligations under the Contract and the executions and delivery of all
documents and the performance of all actions related thereto are approved; subject to the
approval of the Contract by the City Attorney. The Mayor, City Clerk, City Administrator
and the City Attorney are authorized to execute such documents and take such actions as are
necessary or desirable to effectuate the intent of this Ordinance.
SECTION 2. This Ordinance shall be in full force and effect from and after its
PASSED AND APPROVED THIS 24TH DAY OF FEBRUARY 2004.
Mayor
ty ler
c~o~~
SEVENTH AMENDMENT TO LEASE AND DEVELOPMENT AGREEMENT
~b05
THIS AMENDMENT is made and entered into as of ~ 7-'~ by
and between the City of Riverside, Missouri ("City") and Missouri Company ("MGC").
WHEREAS, the City and MGC entered into that certain Lease and Development
Agreement (the "Original Lease") dated June 7, 1993 relating to the development of the Argosy
Casino in the City;
WHEREAS, the City passed that certain Ordinance No. 93-37 dated July 6, 1993
amending the Original Lease ("First Amendment");
WHEREAS, the City, pursuant to Ordinance No. 93-41 dated July 20, 1993, MGC and
Donaldson, Lufkin and Jenrette, as Escrow Agent, entered into that certain Escrow Agreement
also referred to as Amendment No. 2, amending the Original Lease, as previously amended by
the First Amendment ("Second Amendment");
WHEREAS, the City, pursuant to Ordinance No. 93-41 dated July 20, 1993, Argosy
Gaming Company and MGC entered into that certain Amendment No. 3 amending the Original
Lease, as previously amended by the First and Second Amendments ("Third Amendment");
WHEREAS, the City, pursuant to Ordinance No. 94-12 dated February 7, 1994, and
MGC entered into that certain Amendment No. 4 to Lease and Development Agreement dated
February 7, 1994 amending the Original Lease, as previously amended by the First, Second and
Third Amendments ("Fourth Amendment");
WHEREAS, the City, pursuant to Ordinance No. 95-37 dated June 20, 1995, and MGC
entered into that certain Amendment No. 5 to Lease and Development Agreement dated June 20,
1995, amending the Original Lease, as previously amended by the First, Second, Third and
Fourth Amendments ("Fifth Amendment");
WHEREAS, the City, pursuant to Ordinance No. 2001-130 dated December 13, 2001,
and MGC entered into that certain Sixth Amendment to Lease and Development Agreement
dated December 27, 2001, amending the Original Lease, as previously amended by the First,
Second, Third, Fourth and Fifth Amendments ("Sixth Amendment");
WHEREAS, MGC has informed the City that additional parking is needed for the Argosy
Casino so that additional real property improvements can be built at the Argosy Casino;
WHEREAS, it is anticipated that these real property improvements will increase the
patronage of the Argosy Casino and its AGR and correspondingly, the rent due under the Lease;
and
WHEREAS, the City and MGC desire to further amend the Original Lease, as previously
amended by the First, Second, Third, Fourth, Fifth and Sixth Amendments (as now and hereafter
amended, the "Lease"). Terms used in this Amendment but not defined herein shall have the
meaning set forth in the Lease.
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NOW THEREFORE, IN CONSIDERATION OF THE MUTUAL COVENANTS AND
PREMISES HEREIN CONTAINED, TIID PARTIES AGREE AS FOLLOWS AND THE
LEASE IS AMENDED TO INCLUDE THE FOLLOWING:
1. Additional Leased Premises For Additional Pazkine. The City leases (as a pazt of the
leased premises under the Lease) to MGC the property described on Exhibit A, subject to all
existing easements, restrictions, reservations, conditions, and other encumbrances of record and
to all existing roads and power lines, whether of record or not ("Additional Pazking Property") to
be used solely as a surface parking lot for the Argosy Casino ("Additional Pazking").
2. Miti ag tion. MGC is required to mitigate all wetlands and riparian lands (collectively
"Wetlands"), if any, which are displaced due to the construction of the Additional Parking or any
other activity on the Additional Parking Property. The lease of the Additional Pazking Property
to MGC is contingent and conditioned upon MGC, at its sole cost and expense, mitigating all of
such Wetlands in full compliance with all applicable federal and local laws, regulations,
guidelines and criteria.
3. Construction/Drainase.
a. MGC shall be responsible, at its sole cost and expense, for constructing the
Additional Pazking in compliance with all applicable federal and local laws, regulations,
guidelines and criteria.
b. The lease of the Additional Pazking Property to MGC is contingent and
conditioned upon MGC being responsible, at its sole cost and expense, for providing or causing
to be provided suitable drainage, retention and related facilities and improvements ("Required
Facilities") to satisfy all drainage, seepage and storm water issues relating to the Additional
Pazking Property; provided, however, MGC may use the retention pond ("Retention Pond")
described in the Warranty Deed dated October 10, 2001 between the City and Riverside
Associates, LLC, a Missouri limited liability company, (the "Deed") to the extent allowable
under the Deed and to the extent such capacity is actually available, with evidence of such
capacity and availability being evidenced by MGC to the City's satisfaction. If capacity is
available and MGC desires to use any of such capacity, MGC shall pay all costs necessary to
connect the Retention Pond to the Additional Pazking notwithstanding anything contained in the
Deed. Prior to any construction on the property described in the Deed, MGC shall provide the
owner of the property with all plans and specifications for construction and all calculations
demonstrating adequate capacity available in the Retention Pond, and shall obtain the written
approval of the plans and specifications by the owner.
4. Master Drainage Structure. The City may construct a drainage structure to serve those
properties generally located in the area south of Missouri State Highway 9, east of Missouri
Highway 69 and west of Line Creek (the "Master Drainage Structure"), though the City has no
obligation to construct the Master Drainage System. If the City determines, in its sole discretion,
to construct the Master Drainage System, MGC shall assume the following obligations:
1:\CLfENTSW 1492WOOO6UC0369828.DOC
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a. If it is determined that the Retention Pond will not be connected to the Master
Drainage Structure, MGC shall pay all costs to provide Required Facilities and to connect such
Required Facilities to the Master Drainage System if requested by the City; and
b. to subordinate the Lease to all reasonable easements required for the Master
Drainage Structure and to provide all reasonable entry and access to the Additional Parking
Property, without cost to the City as necessary to allow the City to construct the Master Drainage
Structure ;and
c. that it shall not undertake any activity or refrain from any activity which will
cause a delay or be a hindrance to the construction, development and maintenance of the Master
Drainage Structure.
5. Indemnification.
a. MGC shall indemnify, hold harmless and defend the City and such other persons
to whom the City is legally responsible, from and against any and all claims, actions, suits, cross-
claims, counterclaims, third party actions, damages, liabilities and expenses in connection with
loss of life, personal injury, bodily injury or damage to property arising from or out of the
construction and operation of the Additional Parking Property and Required Facilities. Further,
in case the City or any other person to whom the City is legally responsible, shall be made a
party to any action or proceeding commenced by or against MGC, then MGC agrees to protect
and hold such parties harmless and to pay all costs, expenses and reasonable attorneys' fees
incurred or paid by such parties in connection with such action or proceeding. MGC shall pay to
such parties all costs, expenses and reasonable attorneys' fees that may be incurred or paid by the
City in enforcing these terms, conditions, covenants and agreements.
b. The above indemnification expressly includes any claims, actions, suits, cross
claims, counterclaims, damages, liabilities and expenses associated in any way with each and
every easement relating to the Additional Parking Property, including but not limited to the
pipeline and underground cable easements described in Exhibit B.
6. Insurance. MGC shall maintain, at all times, comprehensive general liability insurance
with a qualified insurance compacry, licensed to do business in the State of Missouri, properly
protecting and indemnifying the City from claims and damages relating in any manner to this
Amendment and the Additional Parking Property with single limit coverage of not less than Two
Million Dollars ($2,000,000) for injury to or death of persons and for property damage. Upon
request, MGC shall furnish the City with a certificate or certificates of insurance, in a form
acceptable to the City, covering such insurance so maintained by MGC and naming the City as
an additional insured. Provided the forgoing requirements aze satisfied, a separate policy for the
Additional Pazking Property is not required, but rather it is sufficient for these purposes for the
Additional Parking Property to be included in an insurance policy with other Argosy Casino
property located in the City.
7. Taxes and Assessments. MGC shall assume and pay all ad valorem taxes, if any, and all
special taxes and assessments, including the annual Levee District assessments and taxes, against
the Additional Pazking Property becoming due and payable after the date hereof.
J:~CLIENTSW 14g2~Oppp6000369828.DOC
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8. Miscellaneous.
a. Counterparts. This Amendment may be executed in several counterparts and by
each party on a separate counterpart, each of which when so executed and delivered shall be an
original, and all of which together shall constitute one instrument. In proving this Amendment, it
shall not be necessary to produce or account for more than one such counterpart signed by the
party against whom enforcement is sought.
b. Waiver. The failure or delay of either party in requiring strict performance by the
other of any covenant of this Amendment shall not constitute a waiver of such covenant or the
right to require strict performance thereof. Any one or more waiver, at any time or from time to
time, shall not constitute a waiver of or limit in any manner the right to require strict
performance of such covenant. No waiver by either party of any violation or breach shall waive
such party's rights regarding any future violation of such term.
c. Titles and Subtitles. Titles and subtitles are used in this Amendment for the
purpose of reference only and are not to be considered a part of the text of this Amendment in
the interpretation or construction of its terms.
d. Authorization. The individual executing this Amendment on behalf of MGC
represents and warrants that he has been authorized to do so by the Board of Directors of such
corporation. The individual executing this Amendment on behalf of the City represents and
warrants that she has been authorized to do so by the Board of Aldermen.
e. Severability. If any term or provision of this Amendment or the application
thereof to any person or circumstances shall, to any extent, be invalid or unenforceable, the
remainder of this Amendment, or the application of such term or provision to persons or
circumstances other than those to which it is held invalid or enforceable, shall not be affected
thereby, and each term and provision of this Amendment shall be valid and be enforced to the
fullest extent permitted by law.
f. Entire Agreement. This Amendment together with the Lease and all other
documents executed in connection herewith or therewith express the entire understanding of the
parties with respect to the transactions contemplated hereby.
g. Fu1T Force and Effect. Except as specifically amended hereby, the Lease and all
of its terms, covenants and conditions shall remain in full force and effect and MGC and the City
shall continue to be obligated to perform their respective covenants, duties and obligations under
the Lease in accordance with the terms thereof, as amended hereby.
[remainder of page intentionally left blank]
J:~CLIENTSW 1492W0006~IC0369828.DOC
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IN WITNESS WHEREOF, the parties have caused this Amendment to be executed on
as of the date first set forth above.
CITY:
-ATTEST:
THE CITY OF RIVERSIDE, MISSOURI
~¢
Betty Burch, 2yor
[seal]
v-
• wise Rusick, ity Clerk
STATE OF MISSOURI
ss.
COUNTY OF PLATTE )
On this the~ay of , 2005 . before me appeared Betty Burch, to me
personally known, who, being by me du sworn, did say that she is the Mayor of the City of
Riverside, a political subdivision, known to me to be the person and officer whose name is
subscribed to the foregoing instrument, acknowledged to me that she executed the same for the
purposes and consideration therein expressed, and as the free act and deed of said City, and in
the capacity therein stated, all by authority of its Board of Aldermen.
IN TESTIMONY WHEREOF, I-have hereunto set my hand and affixed my official seal
at my office in said County and State the day and ye.
~i.ra-
My commission expires:
EANDV GRAM
Notory Public ~ Notary Seal
State of Missouri
Platte County
My Commission Expires DeC. 2~ , 2005
S' l 1:\CLIENTS\61492W000r,UC0369828.DOC
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MGC:
STATE OF is56~r
SS.
COUNTY OF`-.S_o~,~-s-~`~") ,~
On this the (~~~day of 200, before me appeazed
Gam,, a to me person lly known, who, being by me duly sworn, did say
that he i the Cs, Nl , of Missouri Gaming Company, that the seal affixed to the foregoing
instrument is the corporate seal of said corporation, and that said instrument was signed and
sealed in behalf of said corporation by authority of its Boazd of Directors, and said
o~-~~,o,,r acknowledged said instrument to be the free act and deed of said corporation.
IN TESTIMONY WHEREOF, I have hereunto set my hand d affixed my official seal
at my office in said County and State the day and yeaz last above tten.
/ otary Publi
My commission expires: ~~~/p5
Approved as to Fonn ey
~p1fs r.......--
~sry Public - Noih1 ~
CommiBSion #~
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EXHIBIT A
DESCRIPTION OF ADDITIONAL LEASED PREMISES
ADDITIONAL PARKING PROPERTY
J:~CLIENTSW 1492W0006VC0369828.DOC
1333 N.E. Barry Road Tel: 816-468-5858
.Kansas City, Missouri 64155 '. - Fax: 816-468-6651
www.kveng.com E-mail: KC@kveng.com
March 7, 2005
NORTH WEST PARKING TRACT
B02D0321
DESCRIPTION:
A TRACT OF LAND LOCATED IN FRACTIONAL SECTION 9, TOWNSHIP 50 NORTH,
RANGE 33 WEST OF THE 5T" PRINCIPAL MERIDIAN, RIVERSIDE, PLATTE
COUNTY, MISSOURI, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:
COMMENCING AT THE NORTHWEST CORNER OF SAID FRACTIONAL SECTION 9;
THENCE S00°29'28"W ALONG THE WEST LINE OF SAID FRACTIONAL SECTION 9
A DISTANCE OF 1169.72 FEET TO THE POINT OF BEGINNING OF THE TRACT OF
LAND TO BE DESCRIBED; THENCE S89°30'32"E A DISTANCE OF 403.09 FEET TO
THE SOUTHWEST CORNER OF LOT 3, MED4HOME, A SUBDIVISION IN
RIVERSIDE, PLATTE COUNTY, MISSOURI, ACCORDING TO THE RECORDED PLAT
THEREOF; THENCE S28°00'09"W A DISTANCE OF 126.61 FEET; THENCE
S09°12'53"E A DISTANCE OF 192.23 FEET; THENCE S40°39'21"W A DISTANCE OF
99.20 FEET; THENCE S10°40'05"E A DISTANCE OF 60.42 FEET TO A POINT ON
THE NORTH RIGHT-OF-WAY LINE OF ARGOSY PARKWAY AS IT NOW EXISTS;
THENCE S79°19'53"W ALONG SAID NORTH RIGHT-OF-WAY LINE A DISTANCE OF
94.43 FEET; THENCE CONTINUING ALONG SAID NORTH RIGHT-OF-WAY LINE ON
A CURVE TO THE RIGHT, TANGENT TO THE LAST DESCRIBED COURSE, HAVING
A RADIUS OF 860.00 FEET AND AN ARC LENGTH OF 233.22 FEET TO A POINT ON
THE WEST LINE OF SAID FRACTIONAL SECTION 9; THENCE N00°29'28"E ALONG
SAID WEST LINE A DISTANCE OF 421.86 FEET TO THE POINT OF BEGINNING.
CONTAINS 163,311 SQUARE FEET OR 3.75 ACRES.
END OF DESCRIPTION.
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2319 N. Jackson, PO Box 1304 Junction City, Kansas 66441 Tel: 785-162-5040 JC@kveng.com
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MARSH
PRODUCER
MARSH USA INC.
500 W EST MONROE STREET
CHICAGO, IL 60661
Attn: CERT TEAM ('f) (312) 327.6994 / (F) (877) 855-7274
INSURED
ARGOSY GAMING COMPANY
ATfN: BARBARA CRAMMOND
219 PIASA STREET
ALTON, IL 62002
CERTIFlCATi NUMttR
THIS CtRTIFlCATt la IatUED Aa A MATTER Op INPORNATION ONLY AND CONFERS
NO RIOHTa UPON THi CERTIfICATE HOLDER OTHER THAN THOai PROVIDED IN THi
POLICY. TWa CLRTFICAT[ OOEt NOT AMEND, E%TEND OR ALTER THE COVERAOi
APPORDED iY THt POLICItE DESCRIEED NERi1N. _ - __
COMPANY
A ZURICH AMERICAN INSURANCE COMPANY
COMPANY
B
COMPANY
C
COMPANY
D
lERA~ES P .~ .: ~~'.
THIS IS TO CERTIFY THAT POLICIES OF INSURANCE DESCRIBED HEREIN HAVE BEEN ISSUED TO THE aJSURED NAMED HEREIN FOR THE POLICY PERIOD INDICATED.
NOTW I7HSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WRH RESPECT TO WHICH 7HE CERTIFICATE MAV BE ISSUED OR MAV
PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN LS SUBJECT TO ALL THE TERMS, CONDRIONS AND EXCLUSIONS OF SUCH POLICIES. AGGREGATE
LIMITS SHOWN MAV HAVE BEEN REDUCED BY PAID CWMS.
- FECTIVi POLICY E%PIRATION LIMITS
CO TYPE OF INSURANCE POLICY NUMBER
LTR
A GENERAL LIABILITY CPO 9093147-13
X COMMERCIAL GENERAL LIABILITY
CLAIMS MADE ~ OCCUR
OWNER'S g CONTRACTOR'S PROT
ANY AUTO
ALL OWNED AUTOS
SCHEDULED AUTOS
HIRED AUTOS
NON-0WNED AUTOS
GARAGE LIABILITY
ANY AUTO
UMBRELLA FORM
EMPLOYERS' LIABILITY
THE PROPRIETORI INCL
pARTNERSIEXECUTNE
POLICY if pATt (MYRTDIYY)
DATE (MYIDDIYYI
NED EXP ~ DOB gDig1 $
COMBINED SINGLE LIMB $
BODILY INJURY $
(PN•pgnonl
BODILY INJURY $
(pgF geddsnq
PROPERTY DAMAGE $
EACH
1
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Urrlcena ..n=. -- 08/20/04 UOIZV/Ua •••• - -''--
A PROPERTY CPO 9093147-13 $100,000 DED ALL OTHER PROP.
BLANKET BUILDING $100,000 DED FLOOD
AND PERSONAL PROPERTY 596 FOR EO
DESCRIPTION OF OPEMTIONSILOCATIONSNEHICLialaPECIAL ITEMS
THE EXTENT REQUIRED BY W RffTEN COONTRACT W ITH THE NAMED SUREDNERSIDE IS INCLUDED AS AODfTIONAL INSURED, BUT ONLY T
,., ,~~ ~~
~A'3E .. ,~ , max....
. gHOUID ANY OF 1HE pOlICEB pEBCRg1ED HEREN BE CANCELLED BEFORE THE EXPNATION DATE THEREOF,
DAYS WRffTEN NOTICE TO 7HE
THE NSURER AFFORDNG COVERADE WILL ENDEAVOR TO NAIL _SIL
CITY OF RIVERSIDE CERTIFICATE HOLDER NAMED HEREM, BUT FALURE TO MAL BOON NOTICE 8W11L MPOBE NO OBLIOATNJN OR
c/o ARGOSY GAMING COMPANY INBM.NY OF ANY NMD UPON THE NSURER AFFORDING COVERAGE. rt8 AGENTS oR REPRESENTA7NE8, OR 7HE
219 PIASA STREET
ALTON, IL 62002 IssuER of THIg eERiFIOATE.
MARSH UEA INC. ~~~~y
tY: Chdaty N. Mlller ~L ..
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