August 1 Uses in Assignment and Subleasing Clause

Assignment and Subleasing from Lease

THIS LEASE (Lease) is made and entered into as of this 1st day of December, 2005 (the Effective Date) by and between BLUE RIDGE REAL ESTATE COMPANY, (herein referred to as Landlord) and JFBB SKI AREAS, INC., a Missouri corporation, (herein referred to as Tenant),

Assignment and Subleasing. Without the prior consent of Landlord, Tenant shall have the right from time to time during the Lease Term, to mortgage this Lease and the leasehold estate hereby created. The execution and delivery of a mortgage shall not be deemed to constitute an assignment or transfer of this Lease nor shall the holder of any mortgage, as such, be deemed an assignee or transferee of the Lease so as to require such holder to assume the performance of any of the covenants or agreements on the part of Tenant to be performed hereunder, except to the extent provided in Section 22. Promptly after execution and delivery of a mortgage, Tenant shall send to Landlord a copy of all relevant documentation delivered in connection therewith. In the event of a sublease or mortgage by Tenant pursuant to this paragraph, Tenant shall remain liable and responsible under this Lease. Tenant shall notify Landlord of the identity of any mortgagee, but Tenants failure to so notify the Landlord shall not be deemed a default under this Lease, provided, however, that any benefits of Section 22 to the Leasehold Mortgagee shall not be deemed effective until the Tenant shall notify the Landlord of the identity of any mortgagee. Any mortgage of Tenants interest under this Lease without notification to Landlord shall not be effective as to Landlord and Landlord shall not be bound thereby until receipt of such notification. 17. Tenants Compliance with Covenants and Restrictions. Tenant covenants that, during the term of this Lease and any extension thereof, it shall comply with the covenants and restrictions of record affecting the Property. Landlord covenants that Landlord will not enter into any agreement imposing covenants and restrictions of record affecting the Property unless Landlord obtains Tenants prior written approval except those already described to Tenant in Landlords existing and proposed development plans shown to Tenant or those necessary for Landlords development projects. 18. Ingress and Egress. Landlord is the owner of the Jack Frost Mountain Road which provides access to the Property. Tenant shall pay its proportionate share of the expenses for snow removal, road maintenance and road repair of all access roads to the Property including Jack Frost Mountain Road and Road C. The proportionate share of said expenses shall be as determined by Landlord. Tenant shall also pay its proportionate share of a reserve for future road maintenance, repair and road improvements. A proposed Agreement for allocation of costs has been provided to Tenant. Tenant acknowledges receipt and approval of said Agreement. Tenant shall be responsible for the repair, replacement and maintenance of all parking areas on the Property, or off the Property utilized by Tenant. 19. Liquidated Damages. (a) Tenant shall have the right to terminate this lease at any time after April 1, 2009. Tenant shall exercise this right by delivering written notice to Landlord via United States Post Office first class mail and certified mail, return receipt requested. The date postmarked on the envelope addressed to Landlord shall constitute the termination date. In the event that Tenant exercises this right to terminate prior to May 1 of any year, then Tenant shall pay to Landlord all accrued rent through the termination date and liquidated damages equal to Two Hundred Thousand and 00/100 Dollars ($200,000.00). In the event that Tenant exercises this right to terminate between May 1 and August 1 of any year, then Tenant shall pay to Landlord all accrued rent through the termination date and liquidated damages equal to Three Hundred Thousand and 00/100 Dollars ($300,000.00). In the event that Tenant exercises this right to terminate after August 1 of any year, then Tenant shall pay to Landlord all accrued rent through the termination date and liquidated damages equal to Four Hundred Thousand and 00/100 Dollars ($400,000.00). All payments due by Tenant will be within (60) days of the termination date. Landlord and Tenant have agreed to the liquidated damages herein set forth in order to avoid extended litigation following a termination by Tenant, recognizing that Landlords actual damages in such event are not susceptible to precise calculation and acknowledgement that the liquidated damages herein set forth constitute fair and equitable compensation to Landlord in such event. (b) Landlord shall have the right to terminate this lease at any time. Landlord shall exercise this right by delivering written notice to Tenant via United States Post Office first class mail and certified mail, return receipt requested. The date postmarked on the envelope addressed to Tenant shall constitute the termination date. In the event Landlord exercises this right to terminate prior to December 1, 2010, then Landlord shall pay to Tenant liquidated damages in the amount of Seven Hundred Fifty Thousand and 00/100 Dollars ($750,000.00). In the event Landlord exercises this right to terminate after December

Assignment and Subleasing from Lease

THIS LEASE (Lease) is made and entered into as of this 1st day of December, 2005 (the Effective Date) by and between BIG BOULDER CORPORATION, (herein referred to as Landlord) and JFBB SKI AREAS, INC., a Missouri corporation, (herein referred to as Tenant),

Assignment and Subleasing. Without the prior consent of Landlord, Tenant shall have the right from time to time during the Lease Term, to mortgage this Lease and the leasehold estate hereby created. The execution and delivery of a mortgage shall not be deemed to constitute an assignment or transfer of this Lease nor shall the holder of any mortgage, as such, be deemed an assignee or transferee of the Lease so as to require such holder to assume the performance of any of the covenants or agreements on the part of Tenant to be performed hereunder, except to the extent provided in Section 22. Promptly after execution and delivery of a mortgage, Tenant shall send to Landlord a copy of all relevant documentation delivered in connection therewith. In the event of a sublease or mortgage by Tenant pursuant to this paragraph, Tenant shall remain liable and responsible under this Lease. Tenant shall notify Landlord of the identity of any mortgagee, but Tenants failure to so notify the Landlord shall not be deemed a default under this Lease, provided, however, that any benefits of Section 22 to the Leasehold Mortgagee shall not be deemed effective until the Tenant shall notify the Landlord of the identity of any mortgagee. Any mortgage of Tenants interest under this Lease without notification to Landlord shall not be effective as to Landlord and Landlord shall not be bound thereby until receipt of such notification. 17. Tenants Compliance with Covenants and Restrictions. Tenant covenants that, during the term of this Lease and any extension thereof, it shall comply with the covenants and restrictions of record affecting the Property. Landlord covenants that Landlord will not enter into any agreement imposing covenants and restrictions of record affecting the Property unless Landlord obtains Tenants prior written approval except those already described to Tenant in Landlords existing and proposed development plans shown to Tenant or those necessary for Landlords development projects. 18. Ingress and Egress. Landlord is the owner of Big Boulder Drive which provides access to the Property. Tenant shall pay its proportionate share of the expenses for snow removal, road maintenance and road repair of all access roads to the Property including Big Boulder Drive. The proportionate share of said expenses shall be as determined by Landlord. Tenant shall also pay its proportionate share of a reserve for future road maintenance, repair and road improvements. A proposed Agreement for allocation of costs has been provided to Tenant. Tenant acknowledges receipt and approval of said Agreement. Tenant shall be responsible for the repair, replacement and maintenance of all parking areas on the Property, or off the Property utilized by Tenant. 19. Liquidated Damages. (a) Tenant shall have the right to terminate this lease at any time after April 1, 2009. Tenant shall exercise this right by delivering written notice to Landlord via United States Post Office first class mail and certified mail, return receipt requested. The date postmarked on the envelope addressed to Landlord shall constitute the termination date. In the event that Tenant exercises this right to terminate prior to May 1 of any year, then Tenant shall pay to Landlord all accrued rent through the termination date and liquidated damages equal to Two Hundred Thousand and 00/100 Dollars ($200,000.00). In the event that Tenant exercises this right to terminate between May 1 and August 1 of any year, then Tenant shall pay to Landlord all accrued rent through the termination date and liquidated damages equal to Three Hundred Thousand and 00/100 Dollars ($300,000.00). In the event that Tenant exercises this right to terminate after August 1 of any year, then Tenant shall pay to Landlord all accrued rent through the termination date and liquidated damages equal to Four Hundred Thousand and 00/100 Dollars ($400,000.00). All payments due by Tenant will be within (60) days of the termination date. Landlord and Tenant have agreed to the liquidated damages herein set forth in order to avoid extended litigation following a termination by Tenant, recognizing that Landlords actual damages in such event are not susceptible to precise calculation and acknowledgement that the liquidated damages herein set forth constitute fair and equitable compensation to Landlord in such event. (b) Landlord shall have the right to terminate this lease at any time. Landlord shall exercise this right by delivering written notice to Tenant via United States Post Office first class mail and certified mail, return receipt requested. The date postmarked on the envelope addressed to Tenant shall constitute the termination date. In the event Landlord exercises this right to terminate prior to December 1, 2010, then Landlord shall pay to Tenant liquidated damages in the amount of Seven Hundred Fifty Thousand and 00/100 Dollars ($750,000.00). In the event Landlord exercises this right to terminate after December 1, 2010, then Landlord shall

Assignment and Subleasing from Lease

THIS LEASE ("Lease") is made and entered into as of this 1st day of December, 2005 (the "Effective Date") by and between BIG BOULDER CORPORATION, (herein referred to as "Landlord") and JFBB SKI AREAS, INC., a Missouri corporation, (herein referred to as "Tenant"),

Assignment and Subleasing. Without the prior consent of Landlord, Tenant shall have the right from time to time during the Lease Term, to mortgage this Lease and the leasehold estate hereby created. The execution and delivery of a mortgage shall not be deemed to constitute an assignment or transfer of this Lease nor shall the holder of any mortgage, as such, be deemed an assignee or transferee of the Lease so as to require such holder to assume the performance of any of the covenants or agreements on the part of Tenant to be performed hereunder, except to the extent provided in Section 22. Promptly after execution and delivery of a mortgage, Tenant shall send to Landlord a copy of all relevant documentation delivered in connection therewith. In the event of a sublease or mortgage by Tenant pursuant to this paragraph, Tenant shall remain liable and responsible und er this Lease. Tenant shall notify Landlord of the identity of any mortgagee, but Tenant's failure to so notify the Landlord shall not be deemed a default under this Lease, provided, however, that any benefits of Section 22 to the Leasehold Mortgagee shall not be deemed effective until the Tenant shall notify the Landlord of the identity of any mortgagee. Any mortgage of Tenants interest under this Lease without notification to Landlord shall not be effective as to Landlord and Landlord shall not be bound thereby until receipt of such notification. 17. Tenants Compliance with Covenants and Restrictions. Tenant covenants that, during the term of this Lease and any extension thereof, it shall comply with the covenants and restrictions of record affecting the Property. Landlord covenants that Landlord will not enter into any agreement imposing covenants and restrictions of record affecting the Property unless Landlord obtains Tenant's prior written approval except those already described to Tenant in Landlord's existing and proposed development plans shown to Tenant or those necessary for Landlord's development projects. 18. Ingress and Egress. Landlord is the owner of Big Boulder Drive which provides access to the Property. Tenant shall pay its proportionate share of the expenses for snow removal, road maintenance and road repair of all access roads to the Property including Big Boulder Drive. The proportionate share of said expenses shall be as determined by Landlord. Tenant shall also pay its proportionate share of a reserve for future road maintenance, repair and road improvements. A proposed Agreement for allocation of costs has been provided to Tenant. Tenant acknowledges receipt and approval of said Agreement. Tenant shall be responsible for the repair, replacement and maintenance of all parking areas on the Property, or off the Property utilized by Tenant. 19. Liquidated Damages. (a) Tenant shall have the right to terminate this lease at any time after April 1, 2009. Tenant shall exercise this right by delivering written notice to Landlord via United States Post Office first class mail and certified mail, return receipt requested. The date postmarked on the envelope addressed to Landlord shall constitute the termination date. In the event that Tenant exercises this right to terminate prior to May 1 of any year, then Tenant shall pay to Landlord all accrued rent through the termination date and liquidated damages equal to Two Hundred Thousand and 00/100 Dollars ($200,000.00). In the event that Tenant exercises this right to terminate between May 1 and August 1 of any year, then Tenant shall pay to Landlord all accrued rent through the termination date and liquidated damages equal to Three Hundred Thousand and 00/100 Dollars ($300,000.00). In the event that Tenant exercises this right to terminate after August 1 of any year, then Tenant shall pay to Landlord all accrued rent through the termination date and liquidated damages equal to Four Hundred Thousand and 00/100 Dollars ($400,000.00). All payments due by Tenant will be within (60) days of the termination date. Landlord and Tenant have agreed to the liquidated damages herein set forth in order to avoid extended litigation following a termination by Tenant, recognizing that Landlords actual damages in such event are not susceptible to precise calculation and acknowledgement that the liquidated damages herein set forth constitute fair and equitable compensation to Landlord in such event. (b) Landlord shall have the right to terminate this lease at any time. Landlord shall exercise this right by delivering written notice to Tenant via United States Post Office first class mail and certified mail, return receipt requested. The date postmarked on the envelope addressed to Tenant shall constitute the termination date. In the event Landlord exercises this right to terminate prior to December 1, 2010, then Landlord shall pay to Tenant liquidated damages in the amount of Seven Hundred Fifty Thousand and 00/100 Dollars ($750,000.00). In the event Landlord exercises this right to terminate after December 1, 2010, then Landlord s

Assignment and Subleasing from Lease

THIS LEASE ("Lease") is made and entered into as of this 1st day of December, 2005 (the "Effective Date") by and between BLUE RIDGE REAL ESTATE COMPANY, (herein referred to as "Landlord") and JFBB SKI AREAS, INC., a Missouri corporation, (herein referred to as "Tenant"),

Assignment and Subleasing. Without the prior consent of Landlord, Tenant shall have the right from time to time during the Lease Term, to mortgage this Lease and the leasehold estate hereby created. The execution and delivery of a mortgage shall not be deemed to constitute an assignment or transfer of this Lease nor shall the holder of any mortgage, as such, be deemed an assignee or transferee of the Lease so as to require such holder to assume the performance of any of the covenants or agreements on the part of Tenant to be performed hereunder, except to the extent provided in Section 22. Promptly after execution and delivery of a mortgage, Tenant shall send to Landlord a copy of all relevant documentation delivered in connection therewith. In the event of a sublease or mortgage by Tenant pursuant to this paragraph, Tenant shall remain liable and responsible und er this Lease. Tenant shall notify Landlord of the identity of any mortgagee, but Tenant's failure to so notify the Landlord shall not be deemed a default under this Lease, provided, however, that any benefits of Section 22 to the Leasehold Mortgagee shall not be deemed effective until the Tenant shall notify the Landlord of the identity of any mortgagee. Any mortgage of Tenants interest under this Lease without notification to Landlord shall not be effective as to Landlord and Landlord shall not be bound thereby until receipt of such notification. 17. Tenants Compliance with Covenants and Restrictions. Tenant covenants that, during the term of this Lease and any extension thereof, it shall comply with the covenants and restrictions of record affecting the Property. Landlord covenants that Landlord will not enter into any agreement imposing covenants and restrictions of record affecting the Property unless Landlord obtains Tenant's prior written approval except those already described to Tenant in Landlord's existing and proposed development plans shown to Tenant or those necessary for Landlord's development projects. 18. Ingress and Egress. Landlord is the owner of the Jack Frost Mountain Road which provides access to the Property. Tenant shall pay its proportionate share of the expenses for snow removal, road maintenance and road repair of all access roads to the Property including Jack Frost Mountain Road and Road "C". The proportionate share of said expenses shall be as determined by Landlord. Tenant shall also pay its proportionate share of a reserve for future road maintenance, repair and road improvements. A proposed Agreement for allocation of costs has been provided to Tenant. Tenant acknowledges receipt and approval of said Agreement. Tenant shall be responsible for the repair, replacement and maintenance of all parking areas on the Property, or off the Property utilized by Tenant. 19. Liquidated Damages. (a) Tenant shall have the right to terminate this lease at any time after April 1, 2009. Tenant shall exercise this right by delivering written notice to Landlord via United States Post Office first class mail and certified mail, return receipt requested. The date postmarked on the envelope addressed to Landlord shall constitute the termination date. In the event that Tenant exercises this right to terminate prior to May 1 of any year, then Tenant shall pay to Landlord all accrued rent through the termination date and liquidated damages equal to Two Hundred Thousand and 00/100 Dollars ($200,000.00). In the event that Tenant exercises this right to terminate between May 1 and August 1 of any year, then Tenant shall pay to Landlord all accrued rent through the termination date and liquidated damages equal to Three Hundred Thousand and 00/100 Dollars ($300,000.00). In the event that Tenant exercises this right to terminate after August 1 of any year, then Tenant shall pay to Landlord all accrued rent through the termination date and liquidated damages equal to Four Hundred Thousand and 00/100 Dollars ($400,000.00). All payments due by Tenant will be within (60) days of the termination date. Landlord and Tenant have agreed to the liquidated damages herein set forth in order to avoid extended litigation following a termination by Tenant, recognizing that Landlords actual damages in such event are not susceptible to precise calculation and acknowledgement that the liquidated damages herein set forth constitute fair and equitable compensation to Landlord in such event. (b) Landlord shall have the right to terminate this lease at any time. Landlord shall exercise this right by delivering written notice to Tenant via United States Post Office first class mail and certified mail, return receipt requested. The date postmarked on the envelope addressed to Tenant shall constitute the termination date. In the event Landlord exercises this right to terminate prior to December 1, 2010, then Landlord shall pay to Tenant liquidated damages in the amount of Seven Hundred FiftyThousand and 00/100 Dollars ($750,000.00). In the event Landlord exercises this right to terminate after Dec