Ex-103



		

			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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