RESOLUTION: EXTENDING THE SALES TAX ABATEMENT PERIOD FOR
THE EMPIRE RESORTS REAL ESTATE II, LLC (“COMPANY”) PROJECT
THROUGH AND INCLUDING FEBRUARY 28, 2021
RESOLUTION: AUTHORIZING (I) A SECOND AMENDED PAYMENT IN
LIEU OF TAX AGREEMENT RELATING TO THE CATSKILL
HOSPITALITY HOLDING LLC (“CHH”) AND CATSKILL
HOSPITALITY OPERATING LLC (“CHO” AND TOGETHER WITH
CHH, COLLECTIVELY, THE “COMPANY”) PROJECT; AND (II) THE
CHAIRMAN, CHIEF EXECUTIVE OFFICER OR EXECUTIVE
DIRECTOR TO EXECUTE AND DELIVER ANY AND ALL DOCUMENTS
NECESSARY TO EFFECUATE THE FOREGOING
RESOLUTION: APPOINTING NY BETHEL I, LLC (“COMPANY”) AS ITS AGENT FOR THE PURPOSE OF CONSTRUCTING THE PROJECT (HEREINAFTER DEFINED); MAKING CERTAIN FINDINGS AND DETERMINATIONS WITH RESPECT TO THE PROJECT; AND AUTHORIZING THE EXECUTION AND DELIVERY OF AN AGENT AND PROJECT AGREEMENT BETWEEN THE AGENCY AND THE COMPANY; AUTHORIZING THE AGENCY TO EXECUTE THE LEASE TO AGENCY (“LEASE”), LEASEBACK TO COMPANY (“LEASEBACK”), PAYMENT IN LIEU OF TAX AGREEMENT (“PILOT AGREEMENT”) AND RELATED DOCUMENTS WITH RESPECT TO THE CONSTRUCTION OF THE PROJECT