twenty-five percent Uses in Definition Clause

Definition 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),

Definition. For purposes of this Section, the term Hazardous Materials shall mean any toxic or hazardous waste or substances (including asbestos and petroleum products) which are regulated by applicable local, state or federal environmental laws or regulations. 26. Condition of Property at Termination. (a) At the expiration or earlier termination of the Lease Term Tenant shall surrender the Leased Premises, together with alterations, additions and improvements then a part thereof, in good order and condition, except for the ordinary wear and tear. All furniture and trade fixtures installed in the Improvements at the expense of Tenant, shall remain the property of Landlord., At the expiration of the Lease Term, the Tenant, at the option of the Landlord, shall be responsible for demolition and removal of any improvements that the Tenant has made during the Lease Term. (b) Landlord shall retain a first lien security interest in the furniture, fixtures, equipment, ski lifts, skis and all other leased items set forth in the attached exhibits and in all replacements of the aforesaid personalty and realty. UCC-1s shall be filed securing Landlords interest which shall be a first lien on the said personalty and realty. 27. Holding Over. In the absence of any written agreement to the contrary, if Tenant should remain in occupancy of the Leased Premises after the expiration of the Lease Term, it shall so remain as a tenant from month-to-month and all provisions of this Lease applicable to such tenancy shall remain in full force and effect, except that Annual Rent payable during such holdover tenancy shall be one hundred twenty-five percent (125%) of the Annual Rent payable at the end of the Lease Term. 28. Signage. Tenant shall have the right to place the maximum amount of exterior or interior signage on the Property as may be permitted by applicable governmental laws or ordinances. Signage by Tenant will not interfere with Landlord developments. 29. Capital Expenditure Requirement. (a) Tenant shall build, install, place or erect improvements to the Property which total a minimum of One Million Five Hundred Thousand Dollars ($1,500,000.00) during the first three (3) years of the Lease Term, provided that Tenant has made a total of Five Million Dollars ($5,000,000.00) of Improvements during the first three (3) years under this lease and under a lease that Tenant has entered into as of the date hereof between Tenant and Big Boulder Corporation. (b) Improvements for the purposes of 29(a) shall consist of chair lifts, snow-making equipment, groomers, computer wiring, building renovations, new buildings and ski facility maintenance equipment. (c) Security for the improvements to be installed under the terms of this paragraph shall be set forth in the attached Escrow Agreement which is incorporated herein. 30. Excepted from Property. (a) Landlord shall, during the term of this Lease or any extension thereof, retain the use of two (2) offices and a real estate sales booth, containing of approximately Two Thousand Two Hundred Twenty-Five (2,225) square feet in the Building. Landlord shall pay no rent or other expenses for these offices and booth. Landlord shall provide their own telephone service to these offices. (b) Landlords use of the excepted areas shall be three hundred sixty-five (365) days per year and twenty-four (24) hours a day. (c) Landlord shall have full use of any restrooms on the Property for use by its employees. (d) Landlord shall have full use of the parking lot(s) on the Property for its golf course including a temporary clubhouse for the golf course, its tennis courts and pool all from April 1 to November 30 of each year at no cost to Landlord. Landlord will provide Tenant with a certificate of insurance for liability insurance in connection with this use.

Definition 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"),

Definition. For purposes of this Section, the term "Hazardous Materials" shall mean any toxic or hazardous waste or substances (including asbestos and petroleum products) which are regulated by applicable local, state or federal environmental laws or regulations. 26. Condition of Property at Termination. (a) At the expiration or earlier termination of the Lease Term Tenant shall surrender the Leased Premises, together with alterations, additions and improvements then a part thereof, in good order and condition, except for the ordinary wear and tear. All furniture and trade fixtures installed in the Improvements at the expense of Tenant, shall remain the property of Landlord. , At the expiration of the Lease Term, the Tenant, at the option of the Landlord, shall be responsible for demolition and removal of any improvements that the Tenant has made during the Lease Term. (b) Landlord shall retain a first lien security interest in the furniture, fixtures, equipment, ski lifts, skis and all other leased items set forth in the attached exhibits and in all replacements of the aforesaid personalty and realty. UCC-1's shall be filed securing Landlord's interest which shall be a first lien on the said personalty and realty. 27. Holding Over. In the absence of any written agreement to the contrary, if Tenant should remain in occupancy of the Leased Premises after the expiration of the Lease Term, it shall so remain as a tenant from month-to-month and all provisions of this Lease applicable to such tenancy shall remain in full force and effect, except that Annual Rent payable during such holdover tenancy shall be one hundred twenty-five percent (125%) of the Annual Rent payable at the end of the Lease Term. 28. Signage. Tenant shall have the right to place the maximum amount of exterior or interior signage on the Property as may be permitted by applicable governmental laws or ordinances. Signage by Tenant will not interfere with Landlord developments. 29. Capital Expenditure Requirement. (a) Tenant shall build, install, place or erect improvements to the Property which total a minimum of One Million Five Hundred Thousand Dollars ($1,500,000.00) during the first three (3) years of the Lease Term, provided that Tenant has made a total of Five Million Dollars ($5,000,000.00) of Improvements during the first three (3) years under this lease and under a lease that Tenant has entered into as of the date hereof between Tenant and Big Boulder Corporation. (b) Improvements for the purposes of 29(a) shall consist of chair lifts, snow-making equipment, groomers, computer wiring, building renovations, new buildings and ski facility maintenance equipment. (c) Security for the improvements to be installed under the terms of this paragraph shall be set forth in the attached Escrow Agreement which is incorporated herein. 30. Excepted from Property. (a) Landlord shall, during the term of this Lease or any extension thereof, retain the use of two (2) offices and a real estate sales booth, containing of approximately Two Thousand Two Hundred Twenty-Five (2,225) square feet in the Building. Landlord shall pay no rent or other expenses for these offices and booth. Landlord shall provide their own telephone service to these offices. (b) Landlords use of the excepted areas shall be three hundred sixty-five (365) days per year and twenty-four (24) hours a day. (c) Landlord shall have full use of any restrooms on the Property for use by its employees. (d) Landlord shall have full use of the parking lot(s) on the Property for its golf course including a temporary clubhouse for the golf course, its tennis courts and pool all from April 1 to November 30 of each year at no cost to Landlord. Landlord will provide Tenant with a certificate of insurance for liability insurance in connection with this use.