Section 431.10  Lease of Race Track

a)         The Board shall not approve any application for racing dates made by an applicant which leases a race track enclosure unless the applicant's lease contains the following provision:

Lessor and lessee recognize that the Illinois Racing Board, pursuant to statutory authority, may allot a different number of racing days and also different dates and days than those requested by the various applicants to hold horse racing and harness racing meetings submitted to it each year. Accordingly, it is agreed by lessor and lessee with respect to any year for which lessor submits such an application and for which the said Illinois Racing Board awards dates to lessor, that, in the event the dates awarded to lessor are otherwise included within the term of this lease, this lease shall be void and of no effect for the period of such date award and the lessee shall not assert any claim or right hereunder to oppose lessor's right to take possession of the race track and to conduct thereon the meeting for which it has been awarded dates.

b)         No lease existing on October 25, 1974, under which the lessee has the unconditional and exclusive right of possession of a race track for a specified term or specified portion of a term and under which lessee is unconditionally obligated to pay substantial rent to lessor shall be required to be amended to conform with this rule.