$1,000,000.00 Minnetonka, Minnesota September 25, 2002
FOR VALUE RECEIVED, the undersigned, THE CHATEAUX LLC, a Nevada limited liability company
(hereinafter "Borrower") whose address is 3745 Las Vegas Blvd. South, Las Vegas, NV 89109, promises to
pay to the order of GRAND CASINOS NEVADA I, INC., a Minnesota corporation ("Holder") whose address
is 130 Cheshire Lane, Minnetonka, MN 55305, the principal sum of One Million and 00/100 Dollars
($1,000,000.00), or such lesser sums as may have been advanced to Borrower hereunder, in lawful money of
the United States of America, together with interest on the unpaid principal balance, at the rates of interest
hereinafter specified to be repaid as set forth in the Loan Agreement ("Loan Agreement") of even date herewith
between the Borrower and the Holder.
The interest due hereunder on the outstanding principal amount shall be computed at a fixed rate of ten percent
(10.0%) per annum. Interest shall be calculated on the balances outstanding at the end of each day and on the
basis of a three hundred sixty (360) day year, but shall accrue and be payable on the actual number of days in the
All payments shall be applied first to late fees due hereunder, if any, then to interest and then to principal, except
that if any advance made by Holder for expenses which are the responsibility of the Borrower is not promptly
repaid to Holder, any monies received, at the option of Holder, may first be applied to repay such advances, plus
interest thereon, at the rates provided herein.
All payments shall be made at the office of the Holder set forth above, or at such other place as the Holder
hereof may from time to time designate in writing.
It is hereby expressly agreed that if any default shall occur in the payment of any installment of principal, interest
or other sums when due hereunder or any other sum when due hereunder or in the payment of any other
indebtedness owed by Borrower to Holder; and such default continues f