Exhibit 10.3

FIRST ADDENDUM TO AMENDED AND RESTATED MASTER CROSS-DEFAULT AGREEMENT

This First Addendum to the Amended and Restated Master Cross-Default Agreement
(this "Addendum") is entered into as of September 1, 2016 by and between EPT
Properties and the Debtors (including, without limitation, the entity or
entities referred to below that are being added to the definition of
"Borrowers").  All capitalized terms used herein shall have the meaning given in
the Amended and Restated Master Cross-Default Agreement dated January 6, 2016
(the "Cross-Default Agreement"), between EPT Properties and Debtors.

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By this Addendum, EPT Properties and Debtors hereby (i) incorporate the terms of
this Addendum into the Cross-Default Agreement, and (ii) add the following
Transaction Documents to the Cross-Default Agreement pursuant to Section 4 of
the Cross-Default Agreement.

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Documents added to definition of "Transaction Documents":

Lease Agreement dated November 15, 2005, by and between EPT Mad River, as
landlord, and Mad River, as tenant, as amended by that certain First Amendment
to Lease Agreement dated June 30, 2006 and as further amended by that certain
Second Amendment to Lease Agreement dated December 1, 2014 and as further
amended by that certain Third Amendment to Lease Agreement date June 8, 2016;

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Promissory Note dated even date herewith in the maximum principal amount of Ten
Million and no/Dollars ($10,000,000.00) made by Peak Resorts and Mount Snow, as
co-borrowers, to EPT Mount Snow;

 

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IN WITNESS WHEREOF, the Borrowers have caused this First Addendum to Amended and
Restated Master Cross-Default Agreement to be executed and delivered the day and
year first above written.

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___________________________

 

 

 

 

 

___________________________

 

 

 

PEAK RESORTS, INC.

 

 

By: /s/ Stephen J Mueller____________

Stephen J. Mueller, Vice President

 

JFBB SKI AREAS, INC.

 

 

By: /s/ Stephen J Mueller____________

Stephen J. Mueller, Vice President

 

MAD RIVER MOUNTAIN, INC.

 

 

By: /s/ Stephen J Mueller____________

Stephen J. Mueller, Vice President

 

MOUNT SNOW, LTD.

 

 

By: /s/ Stephen J Mueller____________

Stephen J. Mueller, Vice President

 

SYCAMORE LAKE, INC.

 

 

By: /s/ Stephen J Mueller____________

Stephen J. Mueller, Vice President

 

DELTRECS, INC.

 

 

By: /s/ Stephen J Mueller____________

Stephen J. Mueller, Vice President

 

BOSTON MILLS SKI RESORT, INC.

 

 

By: /s/ Stephen J Mueller____________

Stephen J. Mueller, Vice President

 

BRANDYWINE SKI RESORT, INC.

 

 

By: /s/ Stephen J Mueller____________

Stephen J. Mueller, Vice President

 

HUNTER MOUNTAIN ACQUISITION, INC.

 

 

By: /s/ Stephen J Mueller____________

Stephen J. Mueller, Vice President

 

HUNTER MOUNTAIN SKI BOWL INC.

 

 

By: /s/ Stephen J Mueller____________

Stephen J. Mueller, Vice President

 

HUNTER MOUNTAIN FESTIVALS, LTD.

 

 

By: /s/ Stephen J Mueller____________

Stephen J. Mueller, Vice President

 

HUNTER MOUNTAIN RENTALS LTD.

 

 

By: /s/ Stephen J Mueller____________

Stephen J. Mueller, Vice President

 

HUNTER RESORT VACATIONS, INC.

 

 

By: /s/ Stephen J Mueller____________

Stephen J. Mueller, Vice President

 

HUNTER MOUNTAIN BASE LODGE, INC.

 

 

By: /s/ Stephen J Mueller____________

Stephen J. Mueller, Vice President

 

FROSTY LAND, INC.

 

 

By: /s/ Stephen J Mueller____________

Stephen J. Mueller, Vice President

 

 

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IN WITNESS WHEREOF, EPT Properties have caused this First Addendum to Amended
and Restated Master Cross-Default Agreement to be executed and delivered the day
and year first above written.

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___________________________

 

 

 

 

 

 

___________________________

 

 

 

 

EPT SKI PROPERTIES, INC.

 

 

By: /s/ Gregory K. Silvers___________

Name: __Gregory K. Silvers _________

Title: ___President_________________

 

EPT MAD RIVER, INC.

 

 

By: /s/ Gregory K. Silvers___________

Name: __Gregory K. Silvers _________

Title: ___President_________________

EPT MOUNT SNOW, INC.

 

 

By: /s/ Gregory K. Silvers___________

Name: __Gregory K. Silvers _________

Title: ___President_________________

 

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IN WITNESS WHEREOF, the Guarantors have caused this First Addendum to Amended
and Restated Master Cross-Default Agreement to be executed and delivered the day
and year first above written.

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/s/ Stephen J Mueller____________

 

 

 

 

 

___________________________

 

 

 

HIDDEN VALLEY GOLF AND SKI, INC.

 

 

By: /s/ Stephen J Mueller____________

Stephen J. Mueller, Vice President

 

SNH DEVELOPMENT, INC.

 

 

By: /s/ Stephen J Mueller____________

Stephen J. Mueller, Vice President

 

SNOW CREEK, INC.

 

 

By: /s/ Stephen J Mueller____________

Stephen J. Mueller, Vice President

 

PAOLI PEAKS, INC.

 

 

By: /s/ Stephen J Mueller____________

Stephen J. Mueller, Vice President

 

L.B.O. HOLDING, INC.

 

 

By: /s/ Stephen J Mueller____________

Stephen J. Mueller, Vice President

 

CROTCHED MOUNTAIN PROPERTIES, LLC.

 

 

By: /s/ Stephen J Mueller____________

Stephen J. Mueller, Vice President of Peak Resorts, Inc. as Manager

 

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