FS-2700-5b (9/96)
                                                             OMB No 0596 - 0082
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    USDA Forest Service       Holder No.     Use Code     Authority
                               PVL 4186        161           545
                             -----------------------------------------
          SKI AREA            Auto. Type    Issue Date   Expir. Date
  TERM SPECIAL USE PERMIT         18                       8/15/39
                             -----------------------------------------
                               Location Sequence No.     Stat. Ref.
  Act of October 22, 1986        05 03 51 06 005 04
                             -----------------------------------------
                               Latitude     Longitude     LOS Case
      (Ref. FSM 2710)
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     SIERRA AT TAHOE, INC.      of    1111 Sierra-at-Tahoe Road
--------------------------------    -------------------------------
         (Holder Name)                  (Billing Address - 1)

                                of      Twin Bridges, CA 95735
--------------------------------    -------------------------------
     (Billing Address - 2)             (City, State & Zip Code)

(hereafter  called the  holder) is hereby  authorized  to use  National  Forest
System  lands,  on  the  ELDORADO   National   Forest,   for  the  purposes  of
constructing,  operating, and maintaining a winter sports resort including food
service, retail sales, and other ancillary facilities,  described herein, known
as the  SIERRA-AT-TAHOE  ski area and  subject to the  provisions  of this term
permit.

This permit covers approximately 1,680 acres described here and as shown on the
attached map dated Nov. 1996 labeled  Exhibit B. Portions of El Dorado National
Forest in T.11N, R.17E, M.D.B.&M.

The following  improvements,  whether on or off the site, are  authorized:  Ski
lifts, alpine and nordic ski trails,  restaurants,  signs,  parking facilities,
and  structures  needed in the operation and  maintenance  of the winter sports
resort (as listed in Exhibit A.)

Attached  Clauses.  This term permit is accepted  subject to the conditions set
forth herein on pages 2 through 12, and to A to B attached or referenced hereto
and made a part exhibits of this permit.

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      THIS PERMIT IS ACCEPTED SUBJECT TO ALL OF ITS TERMS AND CONDITIONS.

ACCEPTED:  SIERRA AT TAHOE, INC.

/s/ CHRIS RYMAN                           8/2/99
---------------------------------         ------------
HOLDER'S NAME AND SIGNATURE               DATE
Chris Ryman, President


/s/ JOHN A. RICE                          8/15/99
---------------------------------         ------------
John A. Rice, General Manager             DATE


APPROVED:

/s/ GARY A. BILYEU              Acting Forest Supervisor              8/19/99
-------------------------       ------------------------              -------
AUTHORIZED OFFICER'S NAME       TITLE                                 DATE
  AND SIGNATURE
<PAGE>

                              TERMS AND CONDITIONS

I. AUTHORITY AND USE AND TERM AUTHORIZED.

A. Authority.  This term  permit is issued  under the  authority  of the Act of
   October 22, 1986,  (Title 16, United States Code,  Section 497b),  and Title
   36, Code of Federal Regulations, Sections 251.50-251.64.
B. Authorized  Officer.  The authorized officer is the Forest  Supervisor.  The
   authorized  officer may designate a  representative  for  administration  of
   specific portions of this authorization.
C. Rules, Laws and Ordinances. The holder, in exercising the privileges granted
   by this term permit, shall comply with all present and future regulations of
   the Secretary of  Agriculture  and federal laws; and all present and future,
   state,  county,  and municipal laws,  ordinances,  or regulations  which are
   applicable  to the area or  operations  covered by this permit to the extent
   they are not in conflict with federal law, policy or regulation.  The Forest
   Service  assumes  no   responsibility   for  enforcing  laws,   regulations,
   ordinances and the like which are under the jurisdiction of other government
   bodies.
D. Term.
   1. This  authorization  is for a term of N/A years to provide for the holder
      to prepare a Master Development Plan. Subject to acceptance of the Master
      Development Plan by the authorized  officer,  this authorization shall be
      extended  for an  additional  N/A  years,  for a total of N/A  years,  to
      provide the holder  sufficient time to construct  facilities  approved in
      the Master  Development Plan within the schedule outlined in clause II.B.
      (Site Development Schedule),  so that the area may be used by the public.
      Further Provided;  This authorization  shall be extended by its terms for
      an  additional  of  30  years,  for a  total  of  40  years,  if it is in
      compliance with the site development  schedule in the Master  Development
      Plan and  being  in  operation  by the  10-year  anniversary  date of the
      issuance of this authorization.  Failure of the holder to comply with all
      or any  provisions  of this  clause  shall  cause  the  authorization  to
      terminate under its terms.
   2. Unless  sooner  terminated  or  revoked  by the  authorized  officer,  in
      accordance  with the provisions of the  authorization,  this permit shall
      terminate on Aug. 15, 2039, but a new special-use authorization to occupy
      and use the same National Forest land may be granted  provided the holder
      shall comply with the  then-existing  laws and regulations  governing the
      occupancy and use of National  Forest lands.  The holder shall notify the
      authorized  officer in writing not less than six (6) months prior to said
      date that such new authorization is desired.
E. Nonexclusive Use. This permit is not exclusive.  The Forest Service reserves
   the right to use or permit others to use any part of the permitted  area for
   any purpose, provided such use does not materially interfere with the rights
   and privileges hereby authorized.
F. Area Access.  Except for any  restrictions  as the holder and the authorized
   officer may agree to be necessary  protect the installation and operation of
   authorized structures and developments, the lands and waters covered by this
   permit  shall  remain  open  to the  public  for  all  lawful  purposes.  To
   facilitate  public use of this area,  all existing  roads or roads as may be
   constructed by the holder, shall remain open to the public, except for roads
   as may be  closed  by  joint  agreement  of the  holder  and the  authorized
   officer.
G. Master  Development  Plan. In consideration of the privileges  authorized by
   this permit,  the holder agrees to prepare and submit  changes in the Master
   Development  Plan  encompassing  the entire winter  sports resort  presently
   envisioned  for  development  in connection  with the National  Forest lands
   authorized by this permit,  and in a form  acceptable to the Forest Service.
   Additional  construction  beyond maintenance of existing  improvements shall
   not be  authorized  until  this  plan  has  been  amended.  Planning  should
   encompass  all the area  authorized  for use by this  permit.  The  accepted
   Master  Development  Plan shall become a part of this  permit.  For planning
   purposes,  a  capacity  for the ski  area in  people-at-one  time  shall  be
   established  in  the  Master  Development  Plan  and  appropriate   National
   Environmental Policy Act (NEPA) document.  The overall development shall not
   exceed that capacity without further  environmental  analysis  documentation
   through the appropriate NEPA process.
H. Periodic Revision.
   1. The  terms and  conditions  of this  authorization  shall be  subject  to
      revision  to  reflect  changing  times  and  conditions  so that land use
      allocation  decisions  made as a result of  revision  to Forest  Land and
      Resource Management Plan may be incorporated.
   2. At the sole discretion of the authorized  officer this term permit may be
      amended to remove  authorization  to use any National Forest System lands
      not specifically covered in the Master Development Plan and/or needed for
      use and occupancy under this authorization.
<PAGE>

II.IMPROVEMENTS.

A. Permission. Nothing in this permit shall be construed to imply permission to
   build or  maintain  any  improvement  not  specifically  named in the Master
   Development  Plan and  approved  in the annual  operating  plan,  or further
   authorized in writing by the authorized officer.
B. Site  Development  Schedule.  As part of this  permit,  a  schedule  for the
   progressive development of the permitted area and installation of facilities
   shall be  prepared  jointly by the holder  and the  Forest  Service.  Such a
   schedule  shall be  prepared  by  update  of the  "Needs  Improvement  Plan"
   annually by May 1, and shall set forth an itemized  priority list of planned
   improvements and the due date for completion.  This schedule shall be made a
   part of this  permit.  The  holder may  accelerate  the  scheduled  date for
   installation  of any  improvement  authorized,  provided the other scheduled
   priorities are met; and provided  further,  that all priority  installations
   authorized are completed to the satisfaction of the Forest Service and ready
   for public use prior to the scheduled due date.
   1. All  required  plans  and  specifications  for  site  improvements,   and
      structures  included  in  the  development  schedule  shall  be  properly
      certified and submitted to the Forest  Service at least  forty-five  (45)
      days before the construction date stipulated in the development schedule.
   2. In the event  there is  agreement  with the Forest  Service to expand the
      facilities and services provided on the areas covered by this permit, the
      holder  shall  jointly  prepare  with the  Forest  Service a  development
      schedule  for the added  facilities  prior to any  construction  and meet
      requirements  of paragraph  II.D of this section.  Such schedule shall be
      made a part of this permit.
C. Plans. All plans for development,  layout,  construction,  reconstruction or
   alteration of  improvements on the site, as well as revisions of such plans,
   must  be  prepared  by a  licensed  engineer,  architect,  and/or  landscape
   architect  (in those  states in which such  licensing  is required) or other
   qualified individual  acceptable to the authorized officer.  Such plans must
   be accepted by the authorized officer before the commencement of any work. A
   holder may be required to furnish as-built plans,  maps, or surveys upon the
   completion of construction.
D. Amendment.  This  authorization  may be amended to cover  new,  changed,  or
   additional  use(s) or area not previously  considered in the approved Master
   Development  plan.  In approving or denying  changes or  modifications,  the
   authorized  officer  shall  consider  among other  things,  the  findings or
   recommendations  of other  involved  agencies  and  whether  their terms and
   conditions of the existing  authorization may be continued or revised,  or a
   new authorization issued.
E. Ski Lift  Plans  and  Specifications.  All plans for  uphill  equipment  and
   systems shall be properly certified as being in accordance with the American
   National Standard Safety Requirements for Aerial Passenger Tramways (B77.1).
   A complete set of drawings,  specifications, and records for each lift shall
   be  maintained by the holder and made  available to the Forest  Service upon
   request.  These  documents  shall be  retained by the holder for a period of
   three (3) years after the removal of the system from National Forest land.


III.  OPERATIONS AND MAINTENANCE.

A. Conditions of  Operations.  The holder shall maintain the  improvements  and
   premises to  standards of repair,  orderliness,  neatness,  sanitation,  and
   safety  acceptable  to the  authorized  officer.  Standards  are  subject to
   periodic  change  by the  authorized  officer.  This use shall  normally  be
   exercised  at least 365 days each year or  season.  Failure of the holder to
   exercise this minimum use may result in termination pursuant to VIII.B.
B. Ski Lift, Holder  Inspection.  The holder shall have all passenger  tramways
   inspected by a qualified engineer or tramway  specialist.  Inspections shall
   be  made  in  accordance   with  the  American   National   Standard  Safety
   Requirements  for  Aerial  Passenger  Tramways  (B77.1).  A  certificate  of
   inspection,  signed by an officer of the holder's company,  attesting to the
   adequacy and safety of the  installations and equipment for public use shall
   be received by the Forest  Service  prior to public  operation  stating as a
   minimum:
       "Pursuant to our special use permit, we have had an inspection to
     determine our compliance with the American National Standard B77.1. We
     have received the results of that inspection and have made corrections
      of all deficiencies noted. The facilities are ready for public use."
C. Operating  Plan. The holder or designated  representative  shall prepare and
   annually  revise  by  October  1  (winter  activities)  and  May  1  (summer
   activities) an Operating  Plan.  The plan shall be prepared in  consultation
   with the authorized  officer or designated  representative  and cover winter
   and summer  operations as appropriate.  The provisions of the Operating Plan
   and the annual  revisions  shall
<PAGE>

   become a part of this  permit  and  shall be  submitted  by the  holder  and
   approved by the authorized officer or their designated representatives. This
   plan shall consist of at least the following sections:

      1. Ski patrol and first aid.          7. Avalanche control.
      2. Communications.                    8. Search and rescue.
      3. Signs.                             9. Boundary management.
      4. General safety and sanitation.     10.Vegetation management.
      5. Erosion control.                   11.Designation of representatives.
      6. Accident reporting.                12.Trail routes for nordic skiing.


   The authorized  officer may require a joint annual  business  meeting agenda
   to:
      a. Update  Gross Fixed  Assets and  lift-line  proration  when the fee is
         calculated by the Graduated Rate Fee System.
      b. Determine need for performance  bond for  construction  projects,  and
         amount of bond.
      c. Provide annual use reports.

D. Cutting of Trees. Trees or shrubbery on the permitted area may be removed or
   destroyed  only after the  authorized  officer has approved  and marked,  or
   otherwise designated,  that which may be removed or destroyed. Timber cut or
   destroyed shall be paid for by the holder at appraised value,  provided that
   the Forest Service reserves the right to dispose of the merchantable  timber
   to others than the holder at no stump-age cost to the holder.
E. Signs. Signs or advertising  devices erected on National Forest lands, shall
   have prior  approval by the Forest  Service as to  location,  design,  size,
   color,  and  message.  Erected  signs  shall be  maintained  or  renewed  as
   necessary to neat and  presentable  standards,  as  determined by the Forest
   Service.
F. Temporary  Suspension.  Immediate temporary suspension of the operation,  in
   whole or in part, may be required when the authorized officer, or designated
   representative,  determines  it to be necessary to protect the public health
   or  safety,  or the  environment.  The  order  for  suspension  may be given
   verbally or in writing.  In any such case,  the  superior of the  authorized
   officer,  or designated  representative,  shall, within ten (10) days of the
   request of the holder,  arrange for an  on-the-ground  review of the adverse
   conditions  with the holder.  Following  this review the superior shall take
   prompt action to affirm, modify or cancel the temporary suspension.


IV.  NONDISCRIMINATION.  During  the  performance  of this  permit,  the holder
     agrees:

A. In  connection  with the  performance  of work under this permit,  including
   construction,  maintenance,  and operation of the facility, the holder shall
   not discriminate against any employee or applicant for employment because of
   race, color, religion,  sex, national origin, age, or handicap.  (Ref. Title
   VII of the Civil Rights Act of 1964 as amended)
B. The holder and employees shall not  discriminate by segregation or otherwise
   against  any person on the basis of race,  color,  religion,  sex,  national
   origin,   age  or   handicap,   by   curtailing   or   refusing  to  furnish
   accommodations,  facilities,  services,  or use  privileges  offered  to the
   public generally. (Ref. Title VI of the Civil Rights Act of 1964 as amended,
   Section 504 of the  Rehabilitation  Act of 1973,  Title IX of the  Education
   Amendments, and the Age Discrimination Act of 1975).
C. The  holder   shall   include   and  require   compliance   with  the  above
   nondiscrimination  provisions  in any  subcontract  made with respect to the
   operations under this permit.
D. Signs setting forth this policy of  nondiscrimination to be furnished by the
   Forest Service will be conspicuously displayed at the public entrance to the
   premises,  and at other  exterior or interior  locations  as directed by the
   Forest Service.
E. The  Forest   Service   shall  have  the  right  to  enforce  the  foregoing
   nondiscrimination  provisions  by suit for  specific  performance  or by any
   other  available  remedy under the laws of the United States of the State in
   which the breach or violation occurs.


V. LIABILITIES

A. Third Party Rights.  This permit is subject to all valid existing rights and
   claims outstanding in third parties.  The United States is not liable to the
   holder for the exercise of any such right or claim.
<PAGE>

B. Indemnification  of the United  States.  The holder shall hold  harmless the
   United  States from any  liability  from damage to life or property  arising
   from the  holder's  occupancy  or use of  National  Forest  lands under this
   permit.
C. Damage to United States  Property.  The holder shall  exercise  diligence in
   protecting from damage the land and property of the United States covered by
   and used in  connection  with this  permit.  The holder shall pay the United
   States the full cost of any damage  resulting from  negligence or activities
   occurring  under  the terms of this  permit  or under any law or  regulation
   applicable to the national forests,  whether caused by the holder, or by any
   agents or employees of the holder.
D. Risks.  The holder  assumes all risk of loss to the  improvements  resulting
   from  natural  or  catastrophic  events,   including  but  not  limited  to,
   avalanches,  rising waters,  high winds,  failing limbs or trees,  and other
   hazardous  events.  If  the  improvements  authorized  by  this  permit  are
   destroyed or substantially  damaged by natural or catastrophic  events,  the
   authorized  officer  shall  conduct an  analysis  to  determine  whether the
   improvements  can be safely  occupied in the future and  whether  rebuilding
   should be allowed.  The analysis  shall be provided to the holder within six
   (6) months of the event.
E. Hazards. The holder has the responsibility of inspecting the area authorized
   for use under this permit for evidence of hazardous  conditions  which could
   affect the improvements or pose a risk of injury to individuals.
F. Insurance.  The  holder  shall  have in  force  public  liability  insurance
   covering:  (1)  property  damage  in the  amount of Fifty  thousand  dollars
   ($50,000.00),   and  (2)  damage  to  persons  in  the  minimum   amount  of
   Five-hundred  thousand  dollars  ($  500,000.00  ) in the  event of death or
   injury to one  individual,  and the minimum  amount of One  million  dollars
   ($1,000,000.00  ) in  the  event  of  death  or  injury  to  more  than  one
   individual.  These  minimum  amounts  and terms are subject to change at the
   sole discretion of the authorized officer at the five-year  anniversary date
   of this authorization.  The coverage shall extend to property damage, bodily
   injury,  or death  arising out of the holder's  activities  under the permit
   including,  but  not  limited  to,  occupancy  or use of the  land  and  the
   construction,  maintenance, and operation of the structures,  facilities, or
   equipment  authorized  by this permit.  Such  insurance  shall also name the
   United  States  as  an  additionally  insured.  The  holder  shall  send  an
   authenticated copy of its insurance policy to the Forest Service immediately
   upon  issuance  of the  policy.  The policy  shall  also  contain a specific
   provision  or rider to the effect that the policy  shall not be cancelled or
   its provisions  changed or deleted before thirty (30) days written notice to
   the  Forest  Supervisor,  100 Forni  Road,  Placerville,  CA  95667,  by the
   insurance company.
   Rider Clause (for insurance companies) "It is understood and agreed that the
   coverage provided under this policy shall not be cancelled or its provisions
   changed or deleted  before thirty (30) days of receipt of written  notice to
   the  Forest  Supervisor,  100 Forni  Road,  Placerville,  CA  95667,  by the
   insurance company."


VI.   FEES.

A. Fee  Calculation.  The annual fee due the United  States for the  activities
   authorized by this permit shall be calculated using the following formula:

      SAPF = (.015 x AGR in bracket 1) + (.025 x AGR in bracket 2) + (.0275
              x AGR in bracket 3) + (.04 x AGR in bracket 4)
             Where:
      AGR  = [(LT+ SS) x (proration %)] + GRAF

   AGR          is   adjusted gross revenue;
   LT           is   revenue from sales of alpine and nordic lift tickets and
                     passes;
   GRAF         is   gross year-round revenue from ancillary facilities;
   Proration %  is   the factor to apportion revenue attributable to use of
                     National Forest System lands;
   SAPF         is   the ski area permit fee for use of National Forest System
                     lands; and
   SS           is   revenue from alpine and nordic ski school operations.

   1. SAPF shall be  calculated  by summing  the  results  of  multiplying  the
      indicated  percentage rates by the amount of the holder's  adjusted gross
      revenue  (AGR),  which  falls  into  each of the  four  brackets.  Follow
<PAGE>

      direction  in  paragraph  2 to  determine  AGR.  The  permit fee shall be
      calculated  based on the holder's  fiscal year,  unless  mutually  agreed
      otherwise by the holder and the authorized officer.

      The four  revenue  brackets  shall be adjusted  annually by the  consumer
      price index issued in FSH 2709.11, chapter 30. The revenue brackets shall
      be indexed for the  previous  calendar  year.  The  holder's  AGR for any
      fiscal  year  shall  not be  split  into  more  than  one set of  indexed
      brackets.  Only the levels of AGR  defined in each  bracket  are  updated
      annually. The percentage rates do not change.

      The revenue  brackets  and  percentages  displayed in Exhibit 01 shall be
      used as shown in the preceding formula to calculate the permit fee.

     Adjusted Gross Revenue (AGR) Brackets and Associated Percentage Rates
               for Use in Determining Ski Area Permit Fee (SAPF)

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        Revenue Brackets (updated annually by CPI*) and Percentage Rates

  Holder FY      Bracket 1     Bracket 2    Bracket 3     Bracket 4
                  (1.5%)        (2.5%)       (2.75%)        (4%)
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   FY 1996      All revenue   $3,000,000   $15,000,000   All revenue
     CPI:          below          to            to          over
     N/A        $3,000,000   <$15,000,000  $50,000,000   $50,000,000

    FY1997      All revenue   $3,090,000   $15,450,000   All revenue
     CPI:          below          to            to          over
    1.030       $3,090,000   <$15,450,000  $51,500,000   $51,500,000

    FY1998      All revenue   $3,158,000   $15,790,000   All revenue
     CPI:          below          to            to          over
    1.022       $3,158,000   <$15,790,000  $52,633,000   $52,633,000

   FY 1999      All revenue   $3,212,000   $16,058,000   All revenue
     CPI:          below          to            to          over
    1.017       $3,212,000   <$16,058,000  $53,528,000   $53,528,000

   FY 2000      BRACKETS WILL BE UPDATED ANNUALLY BY CPI*
  and beyond

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*  The  authorized  officer  shall  notify  the holder of the  updated  revenue
   brackets based on the Consumer Price Index (CPI) which is revised and issued
   annually in FSH 2709.11, chapter 30.
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2. AGR shall be  calculated  by summing the revenue  from lift  tickets and ski
   school operations  prorated for use of National Forest System lands and from
   ancillary facility operations conducted on National Forest System lands.

   Revenue  inclusions  shall be income from sales of alpine and nordic tickets
   and ski area passes; alpine and nordic ski school operations;  gross revenue
   from ancillary  facilities;  the value of bartered  goods and  complimentary
   lift tickets  (such as lift tickets  provided free of charge to the holder's
   friends or relatives); and special event revenue.  Discriminatory pricing, a
   rate based solely on race,  color,  religion,  sex,  national  origin,  age,
   disability, or place of residence, is not allowed, but if it occurs, include
   the amount  that would have been  received  had the  discriminatory  pricing
   transaction been made at the market price, the price generally  available to
   an informed public, excluding special promotions.

   Revenue  exclusions  shall be  income  from  sales of  operating  equipment;
   refunds;  rent paid to the holder by subholders;  sponsor  contributions  to
   special events; any amount  attributable to employee  gratuities or employee
   lift tickets;  discounts;  ski area tickets or passes  provided for a public
   safety or public
<PAGE>

   service purpose (such as for National Ski Patrol or for volunteers to assist
   on the slope in the Special  Olympics);  and other goods Or services (except
   for bartered goods and complimentary lift tickets) for which the holder does
   not receive money.

   Include the following in AGR:
   a. Revenue  from sales of  year-round  alpine and nordic ski area passes and
      tickets and revenue from alpine and nordic ski school operations prorated
      according to the percentage of use between  National  Forest System lands
      and private land in the ski area;
   b. Gross   year-round   revenue  from  temporary  and  permanent   ancillary
      facilities located on National Forest System lands;
   c. The value of bartered  goods and  complimentary  lift tickets,  which are
      goods,  services,  or  privileges  that are not  available to the general
      public  (except for  employee  gratuities,  employee  lift  tickets,  and
      discounts,  and except for ski area  tickets  and passes  provided  for a
      public safety or public service purpose) and that are donated or provided
      without  charge in exchange for  something of value to  organizations  or
      individuals (for example, ski area product discounts,  service discounts,
      or lift  tickets  that  are  provided  free of  charge  in  exchange  for
      advertising).  Bartered goods and complimentary  lift tickets (except for
      employee gratuities, employee lift tickets, discounts, and except for ski
      area tickets and passes  provided for a public  safety or public  service
      purpose)  valued at market  price shall be included in the AGR formula as
      revenue under LT, SS, or GRAF, depending on the type of goods,  services,
      or privileges donated or bartered; and
   d. Special event revenue from events,  such as food  festivals,  foot races,
      and concerts.  Special event revenue shall be included in the AGR formula
      as  revenue  under  LT,  SS,  or GRAF,  as  applicable.  Prorate  revenue
      according to the percentage of use between  National  Forest System lands
      and private land as described in the following paragraphs 5 and 6.
3. LT is the revenue  from sales of alpine and nordic  lift  tickets and passes
   purchased  for the  purpose of using a ski area during any time of the year,
   including  revenue  that is  generated on private land (such as from tickets
   sold on private land).
4. SS is the revenue from lessons  provided to teach alpine or nordic skiing or
   other  winter  sports   activities,   such  as  racing,   snowboarding,   or
   snowshoeing,  including  revenue  that is generated on private land (such as
   from tickets sold on private land).
5. Proration % is the method used to prorate  revenue from the sale of ski area
   passes and lift  tickets  and  revenue  from ski school  operations  between
   National  Forest  System lands and private land in the ski area.  Separately
   prorate alpine and nordic revenue with an appropriate  proration factor. Add
   prorated  revenues  together;  then sum them with GRAF to arrive at AGR. Use
   one or both of the following methods, as appropriate:
   a. STFP  shall  be the  method  used to  prorate  alpine  revenue.  The STFP
      direction  contained  in FSM  2715.11c  effective  in 1992 shall be used.
      Include  in  the  calculation  only  uphill  devices  (lifts,  tows,  and
      tramways) that are  fundamental to the winter sports  operation  (usually
      those located on both Federal and private  land).  Do not include  people
      movers whose primary  purpose is to shuttle people between  parking areas
      or between parking areas and lodges and offices.
   b. Nordic trail length is the method used to prorate nordic revenue. Use the
      percentage of trail length on National Forest System lands to total trail
      length.
6. GRAF is the revenue from ancillary facilities, including all of the holder's
   or  subholder's  lodging,  food service,  rental shops,  parking,  and other
   ancillary operations located on National Forest System lands. Do not include
   revenue that is generated on private land. For facilities that are partially
   located on National Forest System lands, calculate the ratio of the facility
   square footage located on National Forest System lands to the total facility
   square footage.  Special event revenue allocatable to GRAF shall be prorated
   by the ratio of use on National Forest System lands to the total use.
7. In cases  when the  holder has no AGR for a given  fiscal  year,  the holder
   shall pay a permit fee of $2 per acre for National Forest System lands under
   permit or a percentage  of the  appraised  value of National  Forest  System
   lands under permit, at the discretion of the authorized officer.
B. Fee Payments.  Reports and deposits shall be tendered in accordance with the
   following  schedule.  They  shall  be sent or  delivered  to the  collection
   officer,  USDA,  Forest Service,  at the address furnished by the authorized
   officer.  Checks or money  orders  shall be made  payable to:  USDA,  Forest
   Service.

   1. The holder shall  calculate and submit an advance payment which is due by
      the beginning of the holder's  payment cycle.  The advance  payment shall
      equal 20  percent of the  holder's  average  permit  fee for 3  operating
      years, when available. When past permit fee information is not available,
      the advance
<PAGE>

      payment  shall  equal 20 percent of the  permit  fee,  based on the prior
      holder's  average fee or  projected  AGR.  For ski areas not  expected to
      generate AGR for a given payment cycle, advance payment of the permit fee
      as  calculated  in item A,  paragraph 7 ($2 per acre for National  Forest
      System  lands under  permit or a  percentage  of the  appraised  value of
      National  Forest  System lands under  permit,  at the  discretion  of the
      authorized  officer) shall be made. The advance payment shall be credited
      (item B,  paragraph  3)  toward  the total  ski area  permit  fee for the
      payment cycle.
   2. The holder shall report  sales,  calculate  fees due based on a tentative
      percentage  rate, and make interim  payments each calendar MONTH,  except
      for periods in which no sales take place and the holder has  notified the
      authorized officer that the operation has entered a seasonal shutdown for
      a specific  period.  Reports and payments shall be made by the end of the
      month following the end of each reportable period. Interim payments shall
      be credited  (item B,  paragraph  3) toward the total ski area permit fee
      for the payment cycle.
   3. Within 90 days  after  the close of the ski  area's  payment  cycle,  the
      holder shall provide a financial statement,  including a completed permit
      fee  information  form,  Form  FS-2700-19a,  representing  the ski area's
      financial  condition  at the  close of its  business  year and an  annual
      operating  statement  reporting  the results of  operations,  including a
      final payment which includes year-end adjustments for the holder and each
      subholder  for the same  period.  Any balance that exists may be credited
      and applied  against the next payment due or refunded,  at the discretion
      of the permit holder.
   4. Within 30 days of receipt of a  statement  from the Forest  Service,  the
      holder  shall make any  additional  payment  required  to ensure that the
      correct ski area permit fee is paid for the past year's operation.
   5. Payments  shall  be  credited  on the  date  received  by the  designated
      collection  officer.  If the due  date  for  the  fee or fee  calculation
      financial statement falls on a non-workday,  the charges shall not accrue
      until the close of business on the next workday.
   6. All permit fee calculations and records of sales are subject to review or
      periodic  audit  as  determined  by the  authorized  officer.  Errors  in
      calculation or payment shall be corrected as needed for conformance  with
      those reviews or audits.  In  accordance  with the Interest and Penalties
      clause contained in this  authorization,  interest and penalties shall be
      assessed on additional fees due as a result of reviews or audits.
   7. Correction  of errors  includes any action  necessary  to  calculate  the
      holder's  sales or slope  transport  fee  percentage or to make any other
      determination  required  to  calculate  permit fees  accurately.  For fee
      calculation purposes, an error may include:
      a. Misreporting or misrepresentation of amounts;
      b. Arithmetic mistakes;
      c. Typographic mistakes; or
      d. Variation from generally accepted  accounting  principles (GAAP), when
         such variations are inconsistent with the terms of this permit.
      Correction  of errors shall be made  retroactively  to the date the error
      was made or to the previous audit period,  whichever is more recent,  and
      past fees shall be adjusted accordingly.
C. Interest and Penalties.
   1. Pursuant  to 31 USC  3717  and 7 CFR  Part 3,  Subpart  B, or  subsequent
      changes  thereto,  interest  shall be  charged on any fee not paid by the
      date the fee or fee calculation  financial  statements  specified in this
      permit was due.
   2. Interest  shall be assessed using the higher of (1) the most current rate
      prescribed  by the United  States  Department  of the Treasury  Financial
      Manual (TFM-6-8025.40),  or (2) the prompt payment rate prescribed by the
      United States Department of the Treasury under section 12 of the Contract
      Disputes  Act of 1978 (41 USC 611).  Interest  shall accrue from the date
      the fee or fee calculation  financial  statement is due. In the event the
      account becomes delinquent,  administrative costs to cover processing and
      handling of the delinquent debt may be assessed.
   3. A penalty of 6 percent  per year shall be  assessed on any fee overdue in
      excess  of 90 days,  and  shall  accrue  from  the due date of the  first
      billing or the date the fee calculation  financial statement was due. The
      penalty is in addition to interest  and any other  charges  specified  in
      item 2.
   4. Delinquent  fees and other charges shall be subject to all the rights and
      remedies   afforded  the  United  States  pursuant  to  federal  law  and
      implementing regulations. (31 U.S.C. 3711 et seq.).
D. Nonpayment.  Failure of the holder to make  timely  payments,  pay  interest
   charges  or any other  charges  when due,  constitutes  breach  and shall be
   grounds for termination of this  authorization.  This permit  terminates for
   nonpayment  of any monies  owed the United  States when more than 90 days in
   arrears.
E. Access to Records.  For the purpose of administering  this permit (including
   ascertaining that fees paid were correct and evaluating the propriety of the
   fee base), the holder agrees to make all of the accounting
<PAGE>

   books and supporting records to the business activities, as well as those of
   sublessees  operating  within the  authority of this permit,  available  for
   analysis by qualified representatives of the Forest Service or other Federal
   agencies  authorized  to review the  Forest  Service  activities.  Review of
   accounting books and supporting records shall be made at dates convenient to
   the holder and reviewers. Financial information so obtained shall be treated
   as  confidential  as  provided in  regulations  issued by the  Secretary  of
   Agriculture.  The  holder  shall  retain  the  above  records  and keep them
   available for review for 5 years after the end of the year involved,  unless
   disposition is otherwise approved by the authorized officer in writing.
F. Accounting  Records.  The holder shall follow Generally Accepted  Accounting
   Principles  or Other  Comprehensive  Bases of  Accounting  acceptable to the
   Forest Service in recording financial  transactions and in reporting results
   to the authorized  officer.  When requested by the authorized  officer,  the
   holder at own expense,  shall have the annual accounting  reports audited or
   prepared  by a  licensed  independent  accountant  acceptable  to the Forest
   Service.  The holder  shall  require  sublessees  to comply  with these same
   requirements. The minimum acceptable accounting system shall include:
   1. Systematic  internal controls and recording by kind of business the gross
      receipts  derived  from all  sources  of  business  conducted  under this
      permit.  Receipts  should be recorded  daily and, if possible,  deposited
      into a bank account without reduction by  disbursements.  Receipt entries
      shall be supported by source documents such as cash-register  tapes, sale
      invoices, rental records, and cash accounts from other sources.
   2. A permanent record of investments in facilities  (depreciation schedule),
      and current source documents for acquisition costs of capital items.
   3. Preparation  and  maintenance of such special records and accounts as may
      be specified by the authorized officer.


VII.  TRANSFER AND SALE.

A. Subleasing. The holder may sublease the use of land and improvements covered
   under this permit and the operation of concessions and facilities authorized
   upon prior written  notice to the  authorized  officer.  The Forest  Service
   reserves the right to disapprove subleasees. In any circumstance, only those
   facilities  and activities  authorized by this permit may be subleased.  The
   holder shall continue to be responsible  for compliance  with all conditions
   of this permit by persons to whom such  premises  may be sublet.  The holder
   may not sublease  direct  management  responsibility  without  prior written
   approval by the authorized officer.
B. Notification  of Sale.  The holder shall  immediately  notify the authorized
   officer when a sale and transfer of ownership of the permitted  improvements
   is planned.
C. Divestiture  of  Ownership.  Upon  change  in  ownership  of the  facilities
   authorized by this permit,  the rights granted under this  authorization may
   be  transferred  to the new owner upon  application  to and  approval by the
   authorized officer. The new owner must qualify and agree to comply with, and
   be bound by the terms  and  conditions  of the  authorization.  In  granting
   approval,  the  authorized  officer  may modify the terms,  conditions,  and
   special  stipulations  to reflect  any new  requirements  imposed by current
   Federal  and state land use plans,  laws,  regulations  or other  management
   decisions.


VIII. TERMINATION.

A. Termination for Higher Public Purpose. If, during the term of this permit or
   any extension  thereof,  the Secretary of Agriculture or any official of the
   Forest  Service acting by or under his or her authority  shall  determine by
   his or her  planning  for the uses of the  National  Forest  that the public
   interest  requires  termination of this permit,  this permit shall terminate
   upon one  hundred-eighty  (180) day's  written  notice to the holder of such
   determination, and the United States shall have the right thereupon, subject
   to Congressional  authorization and appropriation,  to purchase the holder's
   improvements,  to remove them,  or to require the holder to remove them,  at
   the option of the United States. The United States shall be obligated to pay
   an  equitable  consideration  for the  improvements  or for  removal  of the
   improvements and damages to the  improvements  resulting from their removal.
   The amount of the  consideration  shall be fixed by mutual agreement between
   the United States and the holder and shall be accepted by the holder in full
   satisfaction  of all claims  against the United  States  under this  clause:
   Provided,  that if mutual agreement is not reached, the Forest Service shall
   determine the amount, and if the holder is dissatisfied with the amount thus
   determined to be due him may appeal the determination in accordance with the
   Appeal  Regulations,  and the amount as  determined on appeal shall be final
   and  conclusive  on the  parties  hereto;  Provided  further,  that upon the
   payment to the holder of 75% of the amount fixed by the Forest Service,  the
   right of the
<PAGE>

   United States to remove or require the removal of the improvements shall not
   be stayed pending the final decision on appeal.
B. Termination,  Revocation and Suspension. The authorized officer may suspend,
   revoke,  or  terminate  this permit for (1)  noncompliance  with  applicable
   statutes, regulations, or terms and conditions of the authorization; (2) for
   failure of the holder to exercise  the rights and  privileges  granted;  (3)
   with the consent of the holder;  or (4) when,  by its terms,  a fixed agreed
   upon condition,  event, or time occurs. Prior to suspension,  revocation, or
   termination,  the authorized officer shall give the holder written notice of
   the  grounds  for  such  action  and  reasonable  time to  correct  cureable
   noncompliance.


IX. RENEWAL.

A. Renewal.  The authorized use may be renewed.  Renewal requires the following
   conditions:  (1) the land use allocation is compatible  with the Forest Land
   and Resource  Management  Plan;  (2) the site is being used for the purposes
   previously  authorized and; (3) the enterprise is being continually operated
   and  maintained in  accordance  with all the  provisions  of the permit.  In
   making a renewal,  the authorized officer may modify the terms,  conditions,
   and special stipulations.


X. RIGHTS AND RESPONSIBILITIES UPON TERMINATION OR NONRENEWAL.

A. Removal  of  Improvements.  Except  as  provided  in  Clause  VIII.  A, upon
   termination or revocation of this special use permit by the Forest  Service,
   the holder  shall  remove  within a reasonable  time as  established  by the
   authorized officer,  the structures and improvements,  and shall restore the
   site to a condition satisfactory to the authorized officer, unless otherwise
   waived in writing or in the authorization. If the holder falls to remove the
   structures or improvements  within a reasonable period, as determined by the
   authorized  officer,  they shall  become the  property of the United  States
   without  compensation to the holder, but that shall not relieve the holder's
   liability for the removal and site restoration costs.


Xl. MISCELLANEOUS PROVISIONS.

A. Members of  Congress.  No Member of or  Delegate  to  Congress,  or Resident
   Commissioner  shall be admitted to any share or part of this agreement or to
   any benefit that may arise herefrom unless it is made with a corporation for
   its general benefit.
B. Inspection,  Forest  Service.  The Forest Service shall monitor the holder's
   operations  and reserves the right to inspect the permitted  facilities  and
   improvements  at any time for  compliance  with  the  terms of this  permit.
   Inspections   by  the  Forest   Service  do  not   relieve   the  holder  of
   responsibilities under other terms of this permit.
C. Regulating  Services and Rates.  The Forest Service shall have the authority
   to check and regulate the adequacy and type of services  provided the public
   and to require that such services  conform to  satisfactory  standards.  The
   holder  may be  required  to  furnish a  schedule  of  prices  for sales and
   services authorized by the permit. Such prices and services may be regulated
   by the Forest  Service:  Provided,  that the holder shall not be required to
   charge prices  significantly  different  than those charged by comparable or
   competing enterprises.
D. Advertising.  The holder, in advertisements,  signs,  circulars,  brochures,
   letterheads,  and like materials,  as well as orally, shall not misrepresent
   in any way either the accommodations  provided, the status of the permit, or
   the area covered by it or the vicinity.  The fact that the permitted area is
   located on the National Forest shall be made readily  apparent in all of the
   holder's brochures and print advertising regarding use and management of the
   area and facilities under permit.
E. Bonding.  The authorized officer may require the holder to furnish a bond or
   other security to secure all or any of the obligations  imposed by the terms
   of the authorization or any applicable law, regulation, or order.
F. Water Rights.  This  authorization  confers no rights to the use of water by
   the  holder.  Such rights  must be  acquired  under  State law.
G. Current  Addresses.  The  holder  and the  Forest  Service  shall  keep each
   informed of current mailing addresses  including those necessary for billing
   and payment of fees.
H. Identification  of  Holder.   Identification  of  the  holder  shall  remain
   sufficient  so that the Forest  Service  shall know the true identity of the
   entity.
<PAGE>

   Corporation Status Notification:
   1. The holder shall notify the  authorized  officer within fifteen (15) days
      of the following changes:
      a. Names of officers appointed or terminated.
      b. Names of stockholders who acquire stock shares causing their ownership
         to exceed 50 percent of shares issued or otherwise acquired, resulting
         in gaining controlling interest in the corporation.
   2. The holder shall furnish the authorized officer:
      a. A copy of the articles of incorporation and bylaws.
      b. An  authenticated  copy of a  resolution  of the  board  of  directors
         specifically  authorizing  a  certain  individual  or  individuals  to
         represent the holder in dealing with the Forest Service.
      c. A list  of  officers  and  directors  of  the  corporation  and  their
         addresses.
      d. Upon request,  a certified  list of  stockholders  and amount of stock
         owned by each.
      e. The  authorized  officer may require the holder to furnish  additional
         information as set forth in 36 CFR 251.54(e)(1)(iv).

   Partnership  Status  Notification:  The holder shall  notify the  authorized
   officer  within  fifteen (15) days of the  following  changes.  Names of the
   individuals involved shall be included with the notification.
   1. Partnership  makeup  changes due to death,  withdrawal,  or addition of a
      partner.
   2. Party  or  parties  assigned  financed  interest  in the  partnership  by
      existing partner(s).
   3. Termination, reformation, or revision of the partnership agreement.
   4. The acquisition of partnership  interest,  either through  purchase of an
      interest from an existing partner or partners, or contribution of assets,
      that exceeds 50 percent of the partnership permanent investment.

I. Archaeological  Paleontological  Discoveries.  The holder shall  immediately
   notify the authorized officer of any and all antiquities or other objects of
   historic or  scientific  interest.  These  include,  but are not limited to,
   historic or  prehistoric  ruins,  fossils,  or artifacts  discovered  as the
   result of  operations  under this permit,  and shall leave such  discoveries
   intact until authorized to proceed by the authorized officer. Protective and
   mitigative  measures  specified  by  the  authorized  officer  shall  be the
   responsibility of the permit holder.
J. Protection of Habitat of  Endangered,  Threatened,  and  Sensitive  Species.
   Location of areas  needing  special  measures  for  protection  of plants or
   animals listed as threatened or endangered under the Endangered  Species Act
   (ESA) of 1973, as amended,  or listed as sensitive by the Regional  Forester
   under authority of FSM 2570, derived from ESA Section 7 consultation, may be
   shown on a separate map, hereby made a part of this permit, or identified on
   the ground.  Protective and mitigative  measures specified by the authorized
   officer  shall be the  responsibility  of the permit  holder.  If protection
   measures prove  inadequate,  if other such areas are  discovered,  or if new
   species are listed as Federally  threatened or endangered or as sensitive by
   the  Regional  Forester,  the  authorized  officer  may  specify  additional
   protection  regardless  of when such facts become  known.  Discovery of such
   areas by either party shall be promptly reported to the other party.
K. Superior Clauses.  In the event of any conflict between any of the preceding
   printed clauses or any prevision  thereof,  and any of the following clauses
   or any provision thereof, the preceding clauses shall control.
L  Ski Area Permit Fees. The Forest  Service shall adjust and calculate  permit
   fees  authorized  by this  permit to  reflect  any  revisions  to permit fee
   provisions  in 16 U.S.C.  497c or to comply  with any new  permit fee system
   based on fair market value that may be adopted by statute or otherwise after
   issuance of this permit.
M. Liquor Sales Permitted.  The sale of liquors or other intoxicating beverages
   is allowed in this permit.  However,  if  conditions  develop as a result of
   this  privilege  which,  in the judgment of the Forest officer in charge are
   undesirable,  the sale of such intoxicating beverages shall be discontinued.
   In the event that this action becomes necessary, the holder will be informed
   in writing by the Forest Service.
N. Superseded Permit. This permit replaces a special use permit issued to:

      Sierra-at-Tahoe, Inc.                December 3, 1996
   ----------------------------------------------------------------------------
          (Holder Name)                        (Date)

O. The  Forest  Service   representative   for  this  special  use  permit  is:
   Placerville District Ranger.

P. Disputes. Appeal of any provisions of this authorization or any requirements
   thereof shall be subject to the appeal regulations at 36 CFR 251, Subpart C,
   or revisions  thereto.  The procedures for these appeals are set forth in 36
   CFR 251 published in the Federal Register at 54 FR 3362, January 23, 1989.

Note: Additional  provisions may be added by the authorized  officer to reflect
local conditions.
<PAGE>

   According to the Paperwork Reduction Act of 1995, no persons are required to
   respond  to a  collection  of  information  unless it  displays  a valid OMB
   control number. The valid OMB control number for this information collection
   is 0596-0082.

   This information is needed by the Forest Service to evaluate requests to use
   National  Forest  System  lands and manage  those  lands to protect  natural
   resources,  administer  the use, and ensure public  health and safety.  This
   information  is required to obtain or retain a benefit.  The  authority  for
   that requirement is provided by the Organic Act of 1897 and the Federal Land
   Policy  and  Management  Act of  1976,  which  authorize  the  Secretary  of
   Agriculture to promulgate rules and regulations for authorizing and managing
   National  Forest System lands.  These  statutes,  along with the Term Permit
   Act, National Forest Ski Area Permit Act,  Granger-Thye Act, Mineral Leasing
   Act,  Alaska Term Permit Act,  Act of  September  3, 1954,  Wilderness  Act,
   National   Forest   Roads  and  Trails  Act,   Act  of  November  16,  1973,
   Archeological  Resources  Protection Act, and Alaska National Interest Lands
   Conservation   Act,   authorize  the  Secretary  of   Agriculture  to  issue
   authorizations  for the use and  occupancy of National  Forest System lands.
   The Secretary of  Agriculture's  regulations at 36 CFR Part 251,  Subpart B,
   establish procedures for issuing those authorizations.

   The Privacy Act of 1974 (5 U.S.C.  552a) and the Freedom of Information  Act
   (5 U.S.C.  552) govern the  confidentiality  to be provided for  information
   received by the Forest Service.

   Public  reporting  burden for this collection of information is estimated to
   average  12  hours  per   response,   including   the  time  for   reviewing
   instructions, searching existing data sources, gathering and maintaining the
   data needed,  and completing  and reviewing the  collection of  information.
   Send  comments  regarding  this burden  estimate or any other aspect of this
   collection of information,  including  suggestions for reducing this burden,
   to  Department  of  Agriculture,  Clearance  Officer,  OIRM,  AG  Box  7630,
   Washington D.C. 20250; and to the Office of Management and Budget, Paperwork
   Reduction Project (OMB #0596-0082), Washington, D.C. 20503.
<PAGE>

                                   EXHIBIT A
                                  January 1999

      Activities, Improvements and Services Included in Special Use Permit

      Authorized activities on National Forest land:

        1.  Safety Patrol
        2.  Summer and winter slope grooming; erosion control
        3.  Ski instruction
        4.  Avalanche protection
        5.  Snowmaking
        6.  Food, retail, liquor, and rental service
        7.  Ski Races
        8.  Public skiing
        9.  Emergency first aid treatment
        10. Snowboarding
        11. Tubing
        12. Annually authorized concessions
        13. Special events, annually authorized
        14. Terrain parks
        15. Approved sliding devices

      Authorized uphill conveyance systems on National Forest land:

        1.  Rock Garden double chair lift
        2.  Nob Hill double chair lift
        3.  Tahoe King double chair lift
        4.  El Dorado double chair lift
        5.  Short Stuff double chair lift
        6.  Puma triple chair lift
        7,  Grandview detachable quad chair lift and chair storage
        8.  West Bowl detachable quad chair lift and chair storage
        9.  Easy Rider detachable quad chair lift and chair storage
        10. Magic Carpet conveyance
        11. Tubing tow
        12. Wild Mountain tow

      Authorized buildings and improvements (existing) on National Forest land:

        1.  Lodge #1 (Base Lodge)
        2.  Lodge #2 (Grandview Lodge)
        3.  Equipment and maintenance shop (Upper) with diesel pump
        4.  Equipment and maintenance shop (Lower) with diesel/gasoline pumps,
            storage
        5.  Access road (2.5 miles)
        6.  Parking lots (6 bays)
        7.  Interior service roads
        8.  Administrative/Children's Ski School Building
        9.  Pump House and associated snowmaking facilities
        10. Utilities- gas, electric, water, sewage, telephone, television,
            two-way radio
        11. Generator House (Lower & Upper)
        12. Ski/snowboard check
        13. Club vertical facilities
<PAGE>

                               EXHIBIT A. (cont.)

        14. Ski School warming hut and practice chairs
        15. Ski School Building
        16. West Bowl Base food and services
        17. Water tank and building
        18. Kiosks (Grandview, Host information)
        19. Borrow area
        20. Various mountain and base area signs
        21. Retaining walls
        22. Beverage carts
        23. Ski Patrol Buildings
        24. Wild Mountain Sprung Structures and training areas
        25. Tubing storage & services trailer

      Development, maintenance, and mechanical grooming of the following ski
      runs:

      1.  Aspen                 18. Escape              35. Sugar N' Spice
      2.  Aspen West            19. Hemlock             36. Sunshine Alley
      3.  Avalanche Bowl        20. Horsetail           37. Upper Main
      4.  Bashful               21. Jackrabbit          38. Upper Sleighride
      5.  Bear                  22. Lobo                39. Upper Snowshoe
      6.  Beaver                23. Lower Main          40. Wagon Train
      7.  Broadway              24. Lower Sleighride
      8.  Castle                25. Lower Snowshoe
      9.  Chute                 26. Marten
      10. Clipper               27. Marmot
      11. Corkscrew             28. Powderhorn
      12. Coyote                29. Preacher's Passion
      13. Dogwood               30. Pyramid
      14. Dynamite              31. Royal Trail
      15. East About            32. Shortswing
      16. Echo                  33. Smokey
      17. Ego                   34. Spur
<PAGE>
                                   EXHIBIT B

                                SIERRA-AT-TAHOE
                             WINTER SPORTS RESORT
                              SPECIAL USE PERMIT

Graphic of MAP NOVMEBER 1996 - Portions of Eldorado  National  Forest in T.11N,
R.17E, M.D.B. & M. omitted.