The agreement between The Leona Group and the CCA Board is three years in length and has been renewed at each time of expiration since the first agreement was signed in 1995.

Valuation is performed iteratively, starting at each of the final nodes (those that may be reached at the time of expiration), and then working backwards through the tree towards the first node (valuation date).

In 1969, the leaders of the Seneca Nation had the wisdom to see that the pending expiration of the leases -still more than 20 years in the future - could have a devastating effect on the economy of Salamanca and the region well before the actual time of expiration.

Baskets have some similarity to futures contracts on the S.&P. 500, but those contracts do not involve the delivery of shares and expire at a specified date, at which time they are settled in cash, based on the level of the S.&P. 500 at the time of expiration.