Document:

exv10w17

Exhibit 10.17

PROMISSORY NOTE

(WITH BALLOON and SET OFF PROVISIONS)

			
	 	 	 
	$4,500,000.00
	 	November 22, 2010

     The undersigned, WC ACQUITISION CORP., a New Hampshire corporation (hereinafter referred to as
“Maker”), for value received, promises to pay to the order of WILDCAT MOUNTAIN SKI AREA, INC., a
New Hampshire corporation, MEADOW GREEN — WILDCAT SKILIFT CORP., a New Hampshire corporation, and
MEADOW GREEN — WILDCAT CORP., a New Hampshire corporation (hereinafter collectively referred to
as “Payee”) at c/o Pasquale Franchi, Franchi Management, 182 West Central Street, Natick, MA 01760
or such other place as may be designated in writing by the holder hereof, in lawful money of the
United States of America in immediately available funds, the principal sum of Four Million Five
Hundred Thousand and 00/100 Dollars ($4,500,000.00), together with interest thereon from the date
hereof, at the rate or rates hereinafter specified, as follows:

     1. Interest. This Note shall bear interest on the unpaid principal balance from and
after the date of this Note, to the date of payment of the entire principal balance at the rate of
four percent (4%) per annum. The interest rate shall be fixed for the term of the loan.

     2. Payments. Principal and interest under this note shall be payable pursuant to the
amortization schedule attached hereto as Exhibit A. Said amortization schedule is based on
twenty (20) years amortization. A balloon payment shall be due on the Maturity Date unless
extended by agreement of the parties.

     3. Maturity. This note shall mature on the twenty-second (22nd) day of
December, 2020 and any accrued interest and all principal shall be due and payable at that time.

     4. Application of Payments. All installments paid hereunder shall be in currently
available funds.

     5. Payments Due on Saturdays, Sundays or Legal Holidays. If any payment of principal
or interest due on this Note is payable on a day which is a Saturday, Sunday or legal holiday in
the State of New Hampshire, then such payment shall be due on the next business day.

     6. Prepayment. Maker shall have the right to prepay the unpaid loan balance in full
or in part at any time during the loan term. No prepayment shall be permitted if there exists a
default under the Note. All prepayments shall be in currently available funds, and shall be
applied first to the accrued interest, and the balance, if any, shall be applied to the principal
as set forth above.

     7. Default. Upon the occurrence of an “Event of Default” as defined herein and the
expiration of any applicable cure period, then the holder of this Note, upon thirty (30) days
written notice to Maker, may declare immediately due and payable the entire unpaid balance of
principal under this Note, together with all accrued interest thereon and all other sums due from
Maker. Each of the following shall constitute an Event of Default hereunder:

 

 

               (a) Monetary Default. If Maker fails to make any payment hereon on the date on which
it shall fall due; or

               (b) Default in Performance of Obligations. If Maker defaults in the performance of
any of the agreements, conditions, covenants, provisions or stipulations contained in this Note.

               (c) Cure Period. Notwithstanding anything herein to the contrary, Maker shall not be
in default hereunder with respect to any Monetary Default unless Payee first provides Maker with
written notice of the existence of such default and Maker thereafter fails to cure such default
within ten (10) days of the date of such notice.

     8. Oral Agreements. Oral agreements or commitments to loan money, extend credit or
forbear from enforcing repayment of a debt including promises to extend or renew such debt are not
enforceable. To protect you (Maker) and us (Payee) from misunderstanding or disappointment, any
agreements we reach covering such matters are contained in this writing, which is the complete and
exclusive statement of the agreement between us, except as we may later agree in writing to modify
it. Maker acknowledges that there are no oral agreements related to this note as the day and year
first written above,

     9. Security. This Note is secured by a Mortgage, Security Agreement, Fixture Filing,
and Assignment of Rents of even date herewith.

     10. Waiver. The Maker waives, to the fullest extent permitted by law, presentment,
notice, protest and all other demands and notices, and assents (1) to any extension of time of
payment or any other indulgence, and (2) to the release of any other person or entity primarily or
secondarily liable for the obligations evidenced hereby.”

     11. Governing Law. This Note shall be governed by and construed in accordance with
the laws of the State of New Hampshire. In the event of a dispute the parties consent to
jurisdiction and venue in Carroll County, New Hampshire.

     12. Guaranty. This Note is made in connection with a Guaranty executed by Peak
Resorts, Inc. of even date herewith.

     13. Right to Set Off. This Note shall be subject to the set-off provisions of Section
7.3(a) of the Agreement of Sale and Purchase entered into by and between WILDCAT MOUNTAIN SKI AREA,
INC., MEADOW GREEN-WILDCAT SKILIFT CORP., MEADOW GREEN — WILDCAT CORP. (collectively “Seller”) and
WC Acquisition Corp. (“Purchaser”) (“Purchase Agreement”). In the event that an amount is set-off
by Purchaser against a party under Section 7.3(a) of the Purchase Agreement, then the principal
amount due and payable to the Payee under this Note shall be reduced by said set-off amount, and
said reduction shall be treated as a prepayment hereunder and the remaining payments shall be
recalculated to provide for equal monthly payments (based on the number of months remaining under
the original twenty (20) year amortization schedule) until the Maturity of this Note.

2

 

     14. Notices. All notices, requests and other communications under this Agreement
shall be in writing and shall be either (a) delivered in person, (b) sent by certified mail,
return-receipt requested, (c) delivered by a recognized delivery service or (d) sent by facsimile
transmission and addressed as follows:

	 	 	 	 	 

	If to Maker:
	 	 	 	 
	 

	 	WC Acquisition Corp.	 	 
	 

	 	Attn: Richard Deutsch or Stephen Mueller	 	 
	 

	 	17409 Hidden Valley Drive	 	 
	 

	 	Eureka, Missouri 63025	 	 
	 
	 	 	 	 
	With a copy to:

	 	David L. Jones	 	 
	 

	 	Helfrey, Neiers & Jones, P.C.	 	 
	 

	 	120 South Central Avenue, Suite 1500	 	 
	 

	 	St. Louis, Missouri 63105	 	 
	 

	 	Telephone: (314) 725-9100	 	 
	 

	 	Facsimile: (314) 725-5754	 	 
	 
	 	 	 	 
	If to Payee:
	 	 	 	 
	 

	 	 

	 	 
	 

	 	 

	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	With a copy to:

	 	Randall F. Cooper, Esq.	 	 
	 

	 	Cooper Cargill Chant	 	 
	 

	 	2935 White Mountain Highway	 	 
	 

	 	North Conway, NH 03860	 	 
	 

	 	Telephone: (603) 356-5439	 	 
	 

	 	Facsimile: (603)356-7975	 	 

     IN WITNESS WHEREOF, Maker has executed and delivered this Note the day and year first above
written.

	 	 	 	 	 
	 	MAKER:

WC ACQUISITION CORP., a New Hampshire corporation

 	 
	 	By:  	/s/ Stephen J. Mueller
 	 
	 	 	Stephen J. Mueller, Vice President 	 
	 	 	 	 
	 

3

 

Wildcat Ski Area Acquisition Note

			
	Compound Period	 	: Monthly

			
	Nominal Annual Rate	 	: 4.000%

CASH FLOW DATA

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Event	 	Date	 	Amount	 	 	Number	 	 	Period	 	End Date
	 
	1
	 	Loan	 	11/22/2010	 	 	4,500,000.00	 	 	 	1	 	 	 	 	 
	2
	 	Payment	 	12/22/2010	 	 	27,269.11	 	 	 	240	 	 	Monthly	 	11/22/2030

AMORTIZATION SCHEDULE — Normal Amortization

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Date	 	Payment	 	 	Interest	 	 	Principal	 	 	Balance	 
	 
	Loan	 	11/22/2010
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	4,500,000.00	 
	 	1	 	 	12/22/2010
	 	 	27,269.11	 	 	 	15,000.00	 	 	 	12,269.11	 	 	 	4,487,730.89	 
	2010 Totals	 	 	27,269.11	 	 	 	15,000.00	 	 	 	12,269.11	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	2	 	 	01/22/2011
	 	 	27,269.11	 	 	 	14,959.10	 	 	 	12,310.01	 	 	 	4,475,420.88	 
	 	3	 	 	02/22/2011
	 	 	27,269.11	 	 	 	14,918.07	 	 	 	12,351.04	 	 	 	4,463,069.84	 
	 	4	 	 	03/22/2011
	 	 	27,269.11	 	 	 	14,876.90	 	 	 	12,392.21	 	 	 	4,450,677.63	 
	 	5	 	 	04/22/2011
	 	 	27,269.11	 	 	 	14,835.59	 	 	 	12,433.52	 	 	 	4,438,244.11	 
	 	6	 	 	05/22/2011
	 	 	27,269.11	 	 	 	14,794.15	 	 	 	12,474.96	 	 	 	4,425,769.15	 
	 	7	 	 	06/22/2011
	 	 	27,269.11	 	 	 	14,752.56	 	 	 	12,516.55	 	 	 	4,413,252.60	 
	 	8	 	 	07/22/2011
	 	 	27,269.11	 	 	 	14,710.84	 	 	 	12,558.27	 	 	 	4,400,694.33	 
	 	9	 	 	08/22/2011
	 	 	27,269.11	 	 	 	14,668.98	 	 	 	12,600.13	 	 	 	4,388,094.20	 
	 	10	 	 	09/22/2011
	 	 	27,269.11	 	 	 	14,626.98	 	 	 	12,642.13	 	 	 	4,375,452.07	 
	 	11	 	 	10/22/2011
	 	 	27,269.11	 	 	 	14,584.84	 	 	 	12,684.27	 	 	 	4,362,767.80	 
	 	12	 	 	11/22/2011
	 	 	27,269.11	 	 	 	14,542.56	 	 	 	12,726.55	 	 	 	4,350,041.25	 
	 	13	 	 	12/22/2011
	 	 	27,269.11	 	 	 	14,500.14	 	 	 	12,768.97	 	 	 	4,337,272.28	 
	2011 Totals	 	 	327,229.32	 	 	 	176,770.71	 	 	 	150,458.61	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	14	 	 	01/22/2012
	 	 	27,269.11	 	 	 	14,457.57	 	 	 	12,811.54	 	 	 	4,324,460.74	 
	 	15	 	 	02/22/2012
	 	 	27,269.11	 	 	 	14,414.87	 	 	 	12,854.24	 	 	 	4,311,606.50	 
	 	16	 	 	03/22/2012
	 	 	27,269.11	 	 	 	14,372.02	 	 	 	12,897.09	 	 	 	4,298,709.41	 
	 	17	 	 	04/22/2012
	 	 	27,269.11	 	 	 	14,329.03	 	 	 	12,940.08	 	 	 	4,285,769.33	 
	 	18	 	 	05/22/2012
	 	 	27,269.11	 	 	 	14,285.90	 	 	 	12,983.21	 	 	 	4,272,786.12	 
	 	19	 	 	06/22/2012
	 	 	27,269.11	 	 	 	14,242.62	 	 	 	13,026.49	 	 	 	4,259,759.63	 
	 	20	 	 	07/22/2012
	 	 	27,269.11	 	 	 	14,199.20	 	 	 	13,069.91	 	 	 	4,246,689.72	 
	 	21	 	 	08/22/2012
	 	 	27,269.11	 	 	 	14,155.63	 	 	 	13,113.48	 	 	 	4,233,576.24	 
	 	22	 	 	09/22/2012
	 	 	27,269.11	 	 	 	14,111.92	 	 	 	13,157.19	 	 	 	4,220,419.05	 
	 	23	 	 	10/22/2012
	 	 	27,269.11	 	 	 	14,068.06	 	 	 	13,201.05	 	 	 	4,207,218.00	 
	 	24	 	 	11/22/2012
	 	 	27,269.11	 	 	 	14,024.06	 	 	 	13,245.05	 	 	 	4,193,972.95	 
	 	25	 	 	12/22/2012
	 	 	27,269.11	 	 	 	13,979.91	 	 	 	13,289.20	 	 	 	4,180,683.75	 
	2012 Totals	 	 	327,229.32	 	 	 	170,640.79	 	 	 	156,588.53	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	26	 	 	01/22/2013
	 	 	27,269.11	 	 	 	13,935.61	 	 	 	13,333.50	 	 	 	4,167,350.25	 
	 	27	 	 	02/22/2013
	 	 	27,269.11	 	 	 	13,891.17	 	 	 	13,377.94	 	 	 	4,153,972.31	 
	 	28	 	 	03/22/2013
	 	 	27,269.11	 	 	 	13,846.57	 	 	 	13,422.54	 	 	 	4,140,549.77	 
	 	29	 	 	04/22/2013
	 	 	27,269.11	 	 	 	13,801.83	 	 	 	13,467.28	 	 	 	4,127,082.49	 

 

 

Wildcat Ski Area Acquisition Note

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Date	 	Payment	 	 	Interest	 	 	Principal	 	 	Balance	 
	 
	 	30	 	 	05/22/2013
	 	 	27,269.11	 	 	 	13,756.94	 	 	 	13,512.17	 	 	 	4,113,570.32	 
	 	31	 	 	06/22/2013
	 	 	27,269.11	 	 	 	13,711.90	 	 	 	13,557.21	 	 	 	4,100,013.11	 
	 	32	 	 	07/22/2013
	 	 	27,269.11	 	 	 	13,666.71	 	 	 	13,602.40	 	 	 	4,086,410.71	 
	 	33	 	 	08/22/2013
	 	 	27,269.11	 	 	 	13,621.37	 	 	 	13,647.74	 	 	 	4,072,762.97	 
	 	34	 	 	09/22/2013
	 	 	27,269.11	 	 	 	13,575.88	 	 	 	13,693.23	 	 	 	4,059,069.74	 
	 	35	 	 	10/22/2013
	 	 	27,269.11	 	 	 	13,530.23	 	 	 	13,738.88	 	 	 	4,045,330.86	 
	 	36	 	 	11/22/2013
	 	 	27,269.11	 	 	 	13,484.44	 	 	 	13,784.67	 	 	 	4,031,546.19	 
	 	37	 	 	12/22/2013
	 	 	27,269.11	 	 	 	13,438.49	 	 	 	13,830.62	 	 	 	4,017,715.57	 
	2013 Totals	 	 	327,229.32	 	 	 	164,261.14	 	 	 	162,968.18	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	38	 	 	01/22/2014
	 	 	27,269.11	 	 	 	13,392.39	 	 	 	13,876.72	 	 	 	4,003,838.85	 
	 	39	 	 	02/22/2014
	 	 	27,269.11	 	 	 	13,346.13	 	 	 	13,922.98	 	 	 	3,989,915.87	 
	 	40	 	 	03/22/2014
	 	 	27,269.11	 	 	 	13,299.72	 	 	 	13,969.39	 	 	 	3,975,946.48	 
	 	41	 	 	04/22/2014
	 	 	27,269.11	 	 	 	13,253.15	 	 	 	14,015.96	 	 	 	3,961,930.52	 
	 	42	 	 	05/22/2014
	 	 	27,269.11	 	 	 	13,206.44	 	 	 	14,062.67	 	 	 	3,947,867.85	 
	 	43	 	 	06/22/2014
	 	 	27,269.11	 	 	 	13,159.56	 	 	 	14,109.55	 	 	 	3,933,758.30	 
	 	44	 	 	07/22/2014
	 	 	27,269.11	 	 	 	13,112.53	 	 	 	14,156.58	 	 	 	3,919,601.72	 
	 	45	 	 	08/22/2014
	 	 	27,269.11	 	 	 	13,065.34	 	 	 	14,203.77	 	 	 	3,905,397.95	 
	 	46	 	 	09/22/2014
	 	 	27,269.11	 	 	 	13,017.99	 	 	 	14,251.12	 	 	 	3,891,146.83	 
	 	47	 	 	10/22/2014
	 	 	27,269.11	 	 	 	12,970.49	 	 	 	14,298.62	 	 	 	3,876,848.21	 
	 	48	 	 	11/22/2014
	 	 	27,269.11	 	 	 	12,922.83	 	 	 	14,346.28	 	 	 	3,862,501.93	 
	 	49	 	 	12/22/2014
	 	 	27,269.11	 	 	 	12,875.01	 	 	 	14,394.10	 	 	 	3,848,107.83	 
	2014 Totals	 	 	327,229.32	 	 	 	157,621.58	 	 	 	169,607.74	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	50	 	 	01/22/2015
	 	 	27,269.11	 	 	 	12,827.03	 	 	 	14,442.08	 	 	 	3,833,665.75	 
	 	51	 	 	02/22/2015
	 	 	27,269.11	 	 	 	12,778.89	 	 	 	14,490.22	 	 	 	3,819,175.53	 
	 	52	 	 	03/22/2015
	 	 	27,269.11	 	 	 	12,730.59	 	 	 	14,538.52	 	 	 	3,804,637.01	 
	 	53	 	 	04/22/2015
	 	 	27,269.11	 	 	 	12,682.12	 	 	 	14,586.99	 	 	 	3,790,050.02	 
	 	54	 	 	05/22/2015
	 	 	27,269.11	 	 	 	12,633.50	 	 	 	14,635.61	 	 	 	3,775,414.41	 
	 	55	 	 	06/22/2015
	 	 	27,269.11	 	 	 	12,584.71	 	 	 	14,684.40	 	 	 	3,760,730.01	 
	 	56	 	 	07/22/2015
	 	 	27,269.11	 	 	 	12,535.77	 	 	 	14,733.34	 	 	 	3,745,996.67	 
	 	57	 	 	08/22/2015
	 	 	27,269.11	 	 	 	12,486.66	 	 	 	14,782.45	 	 	 	3,731,214.22	 
	 	58	 	 	09/22/2015
	 	 	27,269.11	 	 	 	12,437.38	 	 	 	14,831.73	 	 	 	3,716,382.49	 
	 	59	 	 	10/22/2015
	 	 	27,269.11	 	 	 	12,387.94	 	 	 	14,881.17	 	 	 	3,701,501.32	 
	 	60	 	 	11/22/2015
	 	 	27,269.11	 	 	 	12,338.34	 	 	 	14,930.77	 	 	 	3,686,570.55	 
	 	61	 	 	12/22/2015
	 	 	27,269.11	 	 	 	12,288.57	 	 	 	14,980.54	 	 	 	3,671,590.01	 
	2015 Totals	 	 	327,229.32	 	 	 	150,711.50	 	 	 	176,517.82	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	62	 	 	01/22/2016
	 	 	27,269.11	 	 	 	12,238.63	 	 	 	15,030.48	 	 	 	3,656,559.53	 
	 	63	 	 	02/22/2016
	 	 	27,269.11	 	 	 	12,188.53	 	 	 	15,080.58	 	 	 	3,641,478.95	 
	 	64	 	 	03/22/2016
	 	 	27,269.11	 	 	 	12,138.26	 	 	 	15,130.85	 	 	 	3,626,348.10	 
	 	65	 	 	04/22/2016
	 	 	27,269.11	 	 	 	12,087.83	 	 	 	15,181.28	 	 	 	3,611,166.82	 
	 	66	 	 	05/22/2016
	 	 	27,269.11	 	 	 	12,037.22	 	 	 	15,231.89	 	 	 	3,595,934.93	 
	 	67	 	 	06/22/2016
	 	 	27,269.11	 	 	 	11,986.45	 	 	 	15,282.66	 	 	 	3,580,652.27	 
	 	68	 	 	07/22/2016
	 	 	27,269.11	 	 	 	11,935.51	 	 	 	15,333.60	 	 	 	3,565,318.67	 
	 	69	 	 	08/22/2016
	 	 	27,269.11	 	 	 	11,884.40	 	 	 	15,384.71	 	 	 	3,549,933.96	 
	 	70	 	 	09/22/2016
	 	 	27,269.11	 	 	 	11,833.11	 	 	 	15,436.00	 	 	 	3,534,497.96	 
	 	71	 	 	10/22/2016
	 	 	27,269.11	 	 	 	11,781.66	 	 	 	15,487.45	 	 	 	3,519,010.51	 
	 	72	 	 	11/22/2016
	 	 	27,269.11	 	 	 	11,730.04	 	 	 	15,539.07	 	 	 	3,503,471.44	 

 

 

Wildcat Ski Area Acquisition Note

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Date	 	Payment	 	 	Interest	 	 	Principal	 	 	Balance	 
	 
	 	73	 	 	12/22/2016
	 	 	27,269.11	 	 	 	11,678.24	 	 	 	15,590.87	 	 	 	3,487,880.57	 
	2016 Totals	 	 	327,229.32	 	 	 	143,519.88	 	 	 	183,709.44	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	74	 	 	01/22/2017
	 	 	27,269.11	 	 	 	11,626.27	 	 	 	15,642.84	 	 	 	3,472,237.73	 
	 	75	 	 	02/22/2017
	 	 	27,269.11	 	 	 	11,574.13	 	 	 	15,694.98	 	 	 	3,456,542.75	 
	 	76	 	 	03/22/2017
	 	 	27,269.11	 	 	 	11,521.81	 	 	 	15,747.30	 	 	 	3,440,795.45	 
	 	77	 	 	04/22/2017
	 	 	27,269.11	 	 	 	11,469.32	 	 	 	15,799.79	 	 	 	3,424,995.66	 
	 	78	 	 	05/22/2017
	 	 	27,269.11	 	 	 	11,416.65	 	 	 	15,852.46	 	 	 	3,409,143.20	 
	 	79	 	 	06/22/2017
	 	 	27,269.11	 	 	 	11,363.81	 	 	 	15,905.30	 	 	 	3,393,237.90	 
	 	80	 	 	07/22/2017
	 	 	27,269.11	 	 	 	11,310.79	 	 	 	15,958.32	 	 	 	3,377,279.58	 
	 	81	 	 	08/22/2017
	 	 	27,269.11	 	 	 	11,257.60	 	 	 	16,011.51	 	 	 	3,361,268.07	 
	 	82	 	 	09/22/2017
	 	 	27,269.11	 	 	 	11,204.23	 	 	 	16,064.88	 	 	 	3,345,203.19	 
	 	83	 	 	10/22/2017
	 	 	27,269.11	 	 	 	11,150.68	 	 	 	16,118.43	 	 	 	3,329,084.76	 
	 	84	 	 	11/22/2017
	 	 	27,269.11	 	 	 	11,096.95	 	 	 	16,172.16	 	 	 	3,312,912.60	 
	 	85	 	 	12/22/2017
	 	 	27,269.11	 	 	 	11,043.04	 	 	 	16,226.07	 	 	 	3,296,686.53	 
	2017 Totals	 	 	327,229.32	 	 	 	136,035.28	 	 	 	191,194.04	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	86	 	 	01/22/2018
	 	 	27,269.11	 	 	 	10,988.96	 	 	 	16,280.15	 	 	 	3,280,406.38	 
	 	87	 	 	02/22/2018
	 	 	27,269.11	 	 	 	10,934.69	 	 	 	16,334.42	 	 	 	3,264,071.96	 
	 	88	 	 	03/22/2018
	 	 	27,269.11	 	 	 	10,880.24	 	 	 	16,388.87	 	 	 	3,247,683.09	 
	 	89	 	 	04/22/2018
	 	 	27,269.11	 	 	 	10,825.61	 	 	 	16,443.50	 	 	 	3,231,239.59	 
	 	90	 	 	05/22/2018
	 	 	27,269.11	 	 	 	10,770.80	 	 	 	16,498.31	 	 	 	3,214,741.28	 
	 	91	 	 	06/22/2018
	 	 	27,269.11	 	 	 	10,715.80	 	 	 	16,553.31	 	 	 	3,198,187.97	 
	 	92	 	 	07/22/2018
	 	 	27,269.11	 	 	 	10,660.63	 	 	 	16,608.48	 	 	 	3,181,579.49	 
	 	93	 	 	08/22/2018
	 	 	27,269.11	 	 	 	10,605.26	 	 	 	16,663.85	 	 	 	3.164,915.64	 
	 	94	 	 	09/22/2018
	 	 	27,269.11	 	 	 	10,549.72	 	 	 	16,719.39	 	 	 	3,148,196.25	 
	 	95	 	 	10/22/2018
	 	 	27,269.11	 	 	 	10,493.99	 	 	 	16,775.12	 	 	 	3,131,421.13	 
	 	96	 	 	11/22/2018
	 	 	27,269.11	 	 	 	10,438.07	 	 	 	16,831.04	 	 	 	3,114,590.09	 
	 	97	 	 	12/22/2018
	 	 	27,269.11	 	 	 	10,381.97	 	 	 	16,887.14	 	 	 	3,097,702.95	 
	2018 Totals	 	 	327,229.32	 	 	 	128,245.74	 	 	 	198,983.58	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	98	 	 	01/22/2019
	 	 	27,269.11	 	 	 	10,325.68	 	 	 	16,943.43	 	 	 	3,080,759.52	 
	 	99	 	 	02/22/2019
	 	 	27,269.11	 	 	 	10,269.20	 	 	 	16,999.91	 	 	 	3,063,759.61	 
	 	100	 	 	03/22/2019
	 	 	27,269.11	 	 	 	10,212.53	 	 	 	17,056.58	 	 	 	3,046,703.03	 
	 	101	 	 	04/22/2019
	 	 	27,269.11	 	 	 	10,155.68	 	 	 	17,113.43	 	 	 	3,029,589.60	 
	 	102	 	 	05/22/2019
	 	 	27,269.11	 	 	 	10,098.63	 	 	 	17,170.48	 	 	 	3,012,419.12	 
	 	103	 	 	06/22/2019
	 	 	27,269.11	 	 	 	10,041.40	 	 	 	17,227.71	 	 	 	2,995,191.41	 
	 	104	 	 	07/22/2019
	 	 	27,269.11	 	 	 	9,983.97	 	 	 	17,285.14	 	 	 	2,977,906.27	 
	 	105	 	 	08/22/2019
	 	 	27,269.11	 	 	 	9,926.35	 	 	 	17,342.76	 	 	 	2,960,563.51	 
	 	106	 	 	09/22/2019
	 	 	27,269.11	 	 	 	9,868.55	 	 	 	17,400.56	 	 	 	2,943,162.95	 
	 	107	 	 	10/22/2019
	 	 	27,269.11	 	 	 	9,810.54	 	 	 	17,458.57	 	 	 	2,925,704.38	 
	 	108	 	 	11/22/2019
	 	 	27,269.11	 	 	 	9,752.35	 	 	 	17,516.76	 	 	 	2,908,187.62	 
	 	109	 	 	12/22/2019
	 	 	27,269.11	 	 	 	9,693.96	 	 	 	17,575.15	 	 	 	2,890,612.47	 
	2019 Totals	 	 	327,229.32	 	 	 	120,138.84	 	 	 	207,090.48	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	110	 	 	01/22/2020
	 	 	27,269.11	 	 	 	9,635.37	 	 	 	17,633.74	 	 	 	2,872,978.73	 
	 	111	 	 	02/22/2020
	 	 	27,269.11	 	 	 	9,576.60	 	 	 	17,692.51	 	 	 	2,855,286.22	 
	 	112	 	 	03/22/2020
	 	 	27,269.11	 	 	 	9,517.62	 	 	 	17,751.49	 	 	 	2,837,534.73	 
	 	113	 	 	04/22/2020
	 	 	27,269.11	 	 	 	9,458.45	 	 	 	17,810.66	 	 	 	2,819,724.07	 

 

 

Wildcat Ski Area Acquisition Note

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Date	 	Payment	 	 	Interest	 	 	Principal	 	 	Balance	 
	 
	 	114	 	 	05/22/2020
	 	 	27,269.11	 	 	 	9,399.08	 	 	 	17,870.03	 	 	 	2,801,854.04	 
	 	115	 	 	06/22/2020
	 	 	27,269.11	 	 	 	9,339.51	 	 	 	17,929.60	 	 	 	2,783,924.44	 
	 	116	 	 	07/22/2020
	 	 	27,269.11	 	 	 	9,279.75	 	 	 	17,989.36	 	 	 	2,765,935.08	 
	 	117	 	 	08/22/2020
	 	 	27,269.11	 	 	 	9,219.78	 	 	 	18,049.33	 	 	 	2,747,885.75	 
	 	118	 	 	09/22/2020
	 	 	27,269.11	 	 	 	9,159.62	 	 	 	18,109.49	 	 	 	2,729,776.26	 
	 	119	 	 	10/22/2020
	 	 	27,269.11	 	 	 	9,099.25	 	 	 	18,169.86	 	 	 	2,711,606.40	 
	 	120	 	 	11/22/2020
	 	 	27,269.11	 	 	 	9,038.69	 	 	 	18,230.42	 	 	 	2,693,375.98	 
	 	121	 	 	12/22/2020
	 	 	27,269.11	 	 	 	8,977.92	 	 	 	18,291.19	 	 	 	2,675,084.79	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	2020 Totals	 	 	327,229.32	 	 	 	111,701.64	 	 	 	215,527.68	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	122	 	 	01/22/2021
	 	 	27,269.11	 	 	 	8,916.95	 	 	 	18,352.16	 	 	 	2,656,732.63	 
	 	123	 	 	02/22/2021
	 	 	27,269.11	 	 	 	8,855.78	 	 	 	18,413.33	 	 	 	2,638,319.30	 
	 	124	 	 	03/22/2021
	 	 	27,269.11	 	 	 	8,794.40	 	 	 	18,474.71	 	 	 	2,619,844.59	 
	 	125	 	 	04/22/2021
	 	 	27,269.11	 	 	 	8,732.82	 	 	 	18,536.29	 	 	 	2,601,308.30	 
	 	126	 	 	05/22/2021
	 	 	27,269.11	 	 	 	8,671.03	 	 	 	18,598.08	 	 	 	2,582,710.22	 
	 	127	 	 	06/22/2021
	 	 	27,269.11	 	 	 	8,609.03	 	 	 	18,660.08	 	 	 	2,564,050.14	 
	 	128	 	 	07/22/2021
	 	 	27,269.11	 	 	 	8,546.83	 	 	 	18,722.28	 	 	 	2,545,327.86	 
	 	129	 	 	08/22/2021
	 	 	27,269.11	 	 	 	8,484.43	 	 	 	18,784.68	 	 	 	2,526,543.18	 
	 	130	 	 	09/22/2021
	 	 	27,269.11	 	 	 	8,421.81	 	 	 	18,847.30	 	 	 	2,507,695.88	 
	 	131	 	 	10/22/2021
	 	 	27,269.11	 	 	 	8,358.99	 	 	 	18,910.12	 	 	 	2,488,785.76	 
	 	132	 	 	11/22/2021
	 	 	27,269.11	 	 	 	8,295.95	 	 	 	18,973.16	 	 	 	2,469,812.60	 
	 	133	 	 	12/22/2021
	 	 	27,269.11	 	 	 	8,232.71	 	 	 	19,036.40	 	 	 	2,450,776.20	 
	2021 Totals	 	 	327,229.32	 	 	 	102,920.73	 	 	 	224,308.59	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	134	 	 	01/22/2022
	 	 	27,269.11	 	 	 	8,169.25	 	 	 	19,099.86	 	 	 	2,431,676.34	 
	 	135	 	 	02/22/2022
	 	 	27,269.11	 	 	 	8,105.59	 	 	 	19,163.52	 	 	 	2,412,512.82	 
	 	136	 	 	03/22/2022
	 	 	27,269.11	 	 	 	8,041.71	 	 	 	19,227.40	 	 	 	2,393,285.42	 
	 	137	 	 	04/22/2022
	 	 	27,269.11	 	 	 	7,977.62	 	 	 	19,291.49	 	 	 	2,373,993.93	 
	 	138	 	 	05/22/2022
	 	 	27,269.11	 	 	 	7,913.31	 	 	 	19,355.80	 	 	 	2,354,638.13	 
	 	139	 	 	06/22/2022
	 	 	27,269.11	 	 	 	7,848.79	 	 	 	19,420.32	 	 	 	2,335,217.81	 
	 	140	 	 	07/22/2022
	 	 	27,269.11	 	 	 	7,784.06	 	 	 	19,485.05	 	 	 	2,315,732.76	 
	 	141	 	 	08/22/2022
	 	 	27,269.11	 	 	 	7,719.11	 	 	 	19,550.00	 	 	 	2,296,182.76	 
	 	142	 	 	09/22/2022
	 	 	27,269.11	 	 	 	7,653.94	 	 	 	19,615.17	 	 	 	2,276,567.59	 
	 	143	 	 	10/22/2022
	 	 	27,269.11	 	 	 	7,588.56	 	 	 	19,680.55	 	 	 	2,256,887.04	 
	 	144	 	 	11/22/2022
	 	 	27,269.11	 	 	 	7,522.96	 	 	 	19,746.15	 	 	 	2,237,140.89	 
	 	145	 	 	12/22/2022
	 	 	27,269.11	 	 	 	7,457.14	 	 	 	19,811.97	 	 	 	2,217,328.92	 
	2022 Totals	 	 	327,229.32	 	 	 	93,782.04	 	 	 	233,447.28	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	146	 	 	01/22/2023
	 	 	27,269.11	 	 	 	7,391.10	 	 	 	19,878.01	 	 	 	2,197,450.91	 
	 	147	 	 	02/22/2023
	 	 	27,269.11	 	 	 	7,324.84	 	 	 	19,944.27	 	 	 	2,177,506.64	 
	 	148	 	 	03/22/2023
	 	 	27,269.11	 	 	 	7,258.36	 	 	 	20,010.75	 	 	 	2,157,495.89	 
	 	149	 	 	04/22/2023
	 	 	27,269.11	 	 	 	7,191.65	 	 	 	20,077.46	 	 	 	2,137,418.43	 
	 	150	 	 	05/22/2023
	 	 	27,269.11	 	 	 	7,124.73	 	 	 	20,144.38	 	 	 	2,117,274.05	 
	 	151	 	 	06/22/2023
	 	 	27,269.11	 	 	 	7,057.58	 	 	 	20,211.53	 	 	 	2,097,062.52	 
	 	152	 	 	07/22/2023
	 	 	27,269.11	 	 	 	6,990.21	 	 	 	20,278.90	 	 	 	2,076,783.62	 
	 	153	 	 	08/22/2023
	 	 	27,269.11	 	 	 	6,922.61	 	 	 	20,346.50	 	 	 	2,056,437.12	 
	 	154	 	 	09/22/2023
	 	 	27,269.11	 	 	 	6,854.79	 	 	 	20,414.32	 	 	 	2,036,022.80	 
	 	155	 	 	10/22/2023
	 	 	27,269.11	 	 	 	6,786.74	 	 	 	20,482.37	 	 	 	2,015,540.43	 
	 	156	 	 	11/22/2023
	 	 	27,269.11	 	 	 	6,718.47	 	 	 	20,550.64	 	 	 	1,994,989.79	 

 

 

Wildcat Ski Area Acquisition Note

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	Date 	Payment	 	Interest	 	Principal	 	Balance
	 
	 
	 	 	157	 	 	 	12/22/2023	 	 	 	27,269.11	 	 	 	6,649.97	 	 	 	20,619.14	 	 	 	1,974,370.65	 
	2023 Totals	 	 	327,229.32	 	 	 	84,271.05	 	 	 	242,958.27	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	158	 	 	 	01/22/2024	 	 	 	27,269.11	 	 	 	6,581.24	 	 	 	20,687.87	 	 	 	1,953,682.78	 
	 
	 	 	159	 	 	 	02/22/2024	 	 	 	27,269.11	 	 	 	6,512.28	 	 	 	20,756.83	 	 	 	1,932,925.95	 
	 
	 	 	160	 	 	 	03/22/2024	 	 	 	27,269.11	 	 	 	6,443.09	 	 	 	20,826.02	 	 	 	1,912,099.93	 
	 
	 	 	161	 	 	 	04/22/2024	 	 	 	27,269.11	 	 	 	6,373.67	 	 	 	20,895.44	 	 	 	1,891,204.49	 
	 
	 	 	162	 	 	 	05/22/2024	 	 	 	27,269.11	 	 	 	6,304.01	 	 	 	20,965.10	 	 	 	1,870,239.39	 
	 
	 	 	163	 	 	 	06/22/2024	 	 	 	27,269.11	 	 	 	6,234.13	 	 	 	21,034.98	 	 	 	1,849,204.41	 
	 
	 	 	164	 	 	 	07/22/2024	 	 	 	27,269.11	 	 	 	6,164.01	 	 	 	21,105.10	 	 	 	1,828,099.31	 
	 
	 	 	165	 	 	 	08/22/2024	 	 	 	27,269.11	 	 	 	6,093.66	 	 	 	21,175.45	 	 	 	1,806,923.86	 
	 
	 	 	166	 	 	 	09/22/2024	 	 	 	27,269.11	 	 	 	6,023.08	 	 	 	21,246.03	 	 	 	1,785,677.83	 
	 
	 	 	167	 	 	 	10/22/2024	 	 	 	27,269.11	 	 	 	5,952.26	 	 	 	21,316.85	 	 	 	1,764,360.98	 
	 
	 	 	168	 	 	 	11/22/2024	 	 	 	27,269.11	 	 	 	5,881.20	 	 	 	21,387.91	 	 	 	1,742,973.07	 
	 
	 	 	169	 	 	 	12/22/2024	 	 	 	27,269.11	 	 	 	5,809.91	 	 	 	21,459.20	 	 	 	1,721,513.87	 
	2024 Totals	 	 	327,229.32	 	 	 	74,372.54	 	 	 	252,856.78	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	170	 	 	 	01/22/2025	 	 	 	27,269.11	 	 	 	5,738.38	 	 	 	21,530.73	 	 	 	1,699,983.14	 
	 
	 	 	171	 	 	 	02/22/2025	 	 	 	27,269.11	 	 	 	5,666.61	 	 	 	21,602.50	 	 	 	1,678,380.64	 
	 
	 	 	172	 	 	 	03/22/2025	 	 	 	27,269.11	 	 	 	5,594.60	 	 	 	21,674.51	 	 	 	1,656,706.13	 
	 
	 	 	173	 	 	 	04/22/2025	 	 	 	27,269.11	 	 	 	5,522.35	 	 	 	21,746.76	 	 	 	1,634,959.37	 
	 
	 	 	174	 	 	 	05/22/2025	 	 	 	27,269.11	 	 	 	5,449.86	 	 	 	21,819.25	 	 	 	1,613,140.12	 
	 
	 	 	175	 	 	 	06/22/2025	 	 	 	27,269.11	 	 	 	5,377.13	 	 	 	21,891.98	 	 	 	1,591,248.14	 
	 
	 	 	176	 	 	 	07/22/2025	 	 	 	27,269.11	 	 	 	5,304.16	 	 	 	21,964.95	 	 	 	1,569,283.19	 
	 
	 	 	177	 	 	 	08/22/2025	 	 	 	27,269.11	 	 	 	5,230.94	 	 	 	22,038.17	 	 	 	1,547,245.02	 
	 
	 	 	178	 	 	 	09/22/2025	 	 	 	27,269.11	 	 	 	5,157.48	 	 	 	22,111.63	 	 	 	1,525,133.39	 
	 
	 	 	179	 	 	 	10/22/2025	 	 	 	27,269.11	 	 	 	5,083.78	 	 	 	22,185.33	 	 	 	1,502,948.06	 
	 
	 	 	180	 	 	 	11/22/2025	 	 	 	27,269.11	 	 	 	5,009.83	 	 	 	22,259.28	 	 	 	1,480,688.78	 
	 
	 	 	181	 	 	 	12/22/2025	 	 	 	27,269.11	 	 	 	4,935.63	 	 	 	22,333.48	 	 	 	1,458,355.30	 
	2025 Totals	 	 	327,229.32	 	 	 	64,070.75	 	 	 	263,158.57	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	182	 	 	 	01/22/2026	 	 	 	27,269.11	 	 	 	4,861.18	 	 	 	22,407.93	 	 	 	1,435,947.37	 
	 
	 	 	183	 	 	 	02/22/2026	 	 	 	27,269.11	 	 	 	4,786.49	 	 	 	22,482.62	 	 	 	1,413,464.75	 
	 
	 	 	184	 	 	 	03/22/2026	 	 	 	27,269.11	 	 	 	4,711.55	 	 	 	22,557.56	 	 	 	1,390,907.19	 
	 
	 	 	185	 	 	 	04/22/2026	 	 	 	27,269.11	 	 	 	4,636.36	 	 	 	22,632.75	 	 	 	1,368,274.44	 
	 
	 	 	186	 	 	 	05/22/2026	 	 	 	27,269.11	 	 	 	4,560.91	 	 	 	22,708.20	 	 	 	1,345,566.24	 
	 
	 	 	187	 	 	 	06/22/2026	 	 	 	27,269.11	 	 	 	4,485.22	 	 	 	22,783.89	 	 	 	1,322,782.35	 
	 
	 	 	188	 	 	 	07/22/2026	 	 	 	27,269.11	 	 	 	4,409.27	 	 	 	22,859.84	 	 	 	1,299,922.51	 
	 
	 	 	189	 	 	 	08/22/2026	 	 	 	27,269.11	 	 	 	4,333.08	 	 	 	22,936.03	 	 	 	1,276,986.48	 
	 
	 	 	190	 	 	 	09/22/2026	 	 	 	27,269.11	 	 	 	4,256.62	 	 	 	23,012.49	 	 	 	1,253,973.99	 
	 
	 	 	191	 	 	 	10/22/2026	 	 	 	27,269.11	 	 	 	4,179.91	 	 	 	23,089.20	 	 	 	1,230,884.79	 
	 
	 	 	192	 	 	 	11/22/2026	 	 	 	27,269.11	 	 	 	4,102.95	 	 	 	23,166.16	 	 	 	1,207,718.63	 
	 
	 	 	193	 	 	 	12/22/2026	 	 	 	27,269.11	 	 	 	4,025.73	 	 	 	23,243.38	 	 	 	1,184,475.25	 
	2026 Totals	 	 	327,229.32	 	 	 	53,349.27	 	 	 	273,880.05	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	194	 	 	 	01/22/2027	 	 	 	27,269.11	 	 	 	3,948.25	 	 	 	23,320.86	 	 	 	1,161,154.39	 
	 
	 	 	195	 	 	 	02/22/2027	 	 	 	27,269.11	 	 	 	3,870.51	 	 	 	23,398.60	 	 	 	1,137,755.79	 
	 
	 	 	196	 	 	 	03/22/2027	 	 	 	27,269.11	 	 	 	3,792.52	 	 	 	23,476.59	 	 	 	1,114,279.20	 
	 
	 	 	197	 	 	 	04/22/2027	 	 	 	27,269.11	 	 	 	3,714.26	 	 	 	23,554.85	 	 	 	1,090,724.35	 

 

 

Wildcat Ski Area Acquisition Note

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	Date	Payment	 	Interest	 	Principal	 	Balance
	 
	 	198

	 	05/22/2027
	 	 	27,269.11	 	 	 	3,635.75	 	 	 	23,633.36	 	 	 	1,067,090.99	 
	 	199

	 	06/22/2027
	 	 	27,269.11	 	 	 	3,556.97	 	 	 	23,712.14	 	 	 	1,043,378.85	 
	 	200

	 	07/22/2027
	 	 	27,269.11	 	 	 	3,477.93	 	 	 	23,791.18	 	 	 	1,019,587.67	 
	 	201

	 	08/22/2027
	 	 	27,269.11	 	 	 	3,398.63	 	 	 	23,870.48	 	 	 	995,717.19	 
	 	202

	 	09/22/2027
	 	 	27,269.11	 	 	 	3,319.06	 	 	 	23,950.05	 	 	 	971,767.14	 
	 	203

	 	10/22/2027
	 	 	27,269.11	 	 	 	3,239.22	 	 	 	24,029.89	 	 	 	947,737.25	 
	 	204

	 	11/22/2027
	 	 	27,269.11	 	 	 	3,159.12	 	 	 	24,109.99	 	 	 	923,627.26	 
	 	205

	 	12/22/2027
	 	 	27,269.11	 	 	 	3,078.76	 	 	 	24,190.35	 	 	 	899,436.91	 
	2027 Totals	 		 	327,229.32	 	 	  	42,190.98	 	 	 	285,038.34	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	206

	 	01/22/2028
	 	 	27,269.11	 	 	 	2,998.12	 	 	 	24,270.99	 	 	 	875,165.92	 
	 	207

	 	02/22/2028
	 	 	27,269.11	 	 	 	2,917.22	 	 	 	24,351.89	 	 	 	850,814.03	 
	 	208

	 	03/22/2028
	 	 	27,269.11	 	 	 	2,836.05	 	 	 	24,433,06	 	 	 	826,380.97	 
	 	209

	 	04/22/2028
	 	 	27,269.11	 	 	 	2,754.60	 	 	 	24,514.51	 	 	 	801,866.46	 
	 	210

	 	05/22/2028
	 	 	27,269.11	 	 	 	2,672.89	 	 	 	24,596.22	 	 	 	777,270.24	 
	 	211

	 	06/22/2028
	 	 	27,269.11	 	 	 	2,590.90	 	 	 	24,678.21	 	 	 	752,592.03	 
	 	212

	 	07/22/2028
	 	 	27,269.11	 	 	 	2,508.64	 	 	 	24,760.47	 	 	 	727,831.56	 
	 	213

	 	08/22/2028
	 	 	27,269.11	 	 	 	2,426.11	 	 	 	24,843.00	 	 	 	702,988.56	 
	 	214

	 	09/22/2028
	 	 	27,269.11	 	 	 	2,343.30	 	 	 	24,925.81	 	 	 	678,062.75	 
	 	215

	 	10/22/2028
	 	 	27,269.11	 	 	 	2,260.21	 	 	 	25,008.90	 	 	 	653,053.85	 
	 	216

	 	11/22/2028
	 	 	27,269.11	 	 	 	2,176.85	 	 	 	25,092.26	 	 	 	627,961.59	 
	 	217

	 	12/22/2028
	 	 	27,269.11	 	 	 	2,093.21	 	 	 	25,175.90	 	 	 	602,785.69	 
	2028 Totals	 	 	 	327,229.32	 	 	 	30,578.10	 	 	 	296,651.22	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	218

	 	01/22/2029
	 	 	27,269.11	 	 	 	2,009.29	 	 	 	25,259.82	 	 	 	577,525.87	 
	 	219

	 	02/22/2029
	 	 	27,269.11	 	 	 	1,925.09	 	 	 	25,344.02	 	 	 	552,181.85	 
	 	220

	 	03/22/2029
	 	 	27,269.11	 	 	 	1,840.61	 	 	 	25,428.50	 	 	 	526,753.35	 
	 	221

	 	04/22/2029
	 	 	27,269.11	 	 	 	1,755.84	 	 	 	25,513.27	 	 	 	501 ,240.08	 
	 	222

	 	05/22/2029
	 	 	27,269.11	 	 	 	1,670.80	 	 	 	25,598.31	 	 	 	475,641.77	 
	 	223

	 	06/22/2029
	 	 	27,269.11	 	 	 	1.585.47	 	 	 	25,683.64	 	 	 	449,958.13	 
	 	224

	 	07/22/2029
	 	 	27,269.11	 	 	 	1,499.86	 	 	 	25,769.25	 	 	 	424,188.88	 
	 	225

	 	08/22/2029
	 	 	27,269.11	 	 	 	1,413.96	 	 	 	25,855.15	 	 	 	398,333.73	 
	 	226

	 	09/22/2029
	 	 	27,269.11	 	 	 	1,327.78	 	 	 	25,941.33	 	 	 	372,392.40	 
	 	227

	 	10/22/2029
	 	 	27,269.11	 	 	 	1,241.31	 	 	 	26,027.80	 	 	 	346,364.60	 
	 	228

	 	11/22/2029
	 	 	27,269.11	 	 	 	1,154.55	 	 	 	26,114.56	 	 	 	320,250.04	 
	 	229

	 	12/22/2029
	 	 	27,269.11	 	 	 	1,067.50	 	 	 	26,201.61	 	 	 	294,048.43	 
	2029 Totals		  	 	327,229.32	 	 	 	18,492.06	 	 	 	308,737.26	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	230

	 	01/22/2030
	 	 	27,269.11	 	 	 	980.16	 	 	 	26,288.95	 	 	 	267,759.48	 
	 	231

	 	02/22/2030
	 	 	27,269.11	 	 	 	892.53	 	 	 	26,376.58	 	 	 	241,382.90	 
	 	232

	 	03/22/2030
	 	 	27,269.11	 	 	 	804.61	 	 	 	26,464.50	 	 	 	214,918.40	 
	 	233

	 	04/22/2030
	 	 	27,269.11	 	 	 	716.39	 	 	 	26,552.72	 	 	 	188,365.68	 
	 	234

	 	05/22/2030
	 	 	27,269.11	 	 	 	627.89	 	 	 	26,641.22	 	 	 	161,724.46	 
	 	235

	 	06/22/2030
	 	 	27,269.11	 	 	 	539.08	 	 	 	26,730.03	 	 	 	134,994.43	 
	 	236

	 	07/22/2030
	 	 	27,269.11	 	 	 	449.98	 	 	 	26,819.13	 	 	 	108,175.30	 
	 	237

	 	08/22/2030
	 	 	27,269.11	 	 	 	360.58	 	 	 	26,908.53	 	 	 	81,266.77	 
	 	238

	 	09/22/2030
	 	 	27,269.11	 	 	 	270.89	 	 	 	26,998.22	 	 	 	54,268.55	 
	 	239

	 	10/22/2030
	 	 	27,269.11	 	 	 	180.90	 	 	 	27,088.21	 	 	 	27,180.34	 
	 	240

	 	11/22/2030
	 	 	27,269.11	 	 	 	88.77	 	 	 	27,180.34	 	 	 	0.00	 

 

 

Wildcat Ski Area Acquisition Note

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Date	 	Payment	 	Interest	 	Principal	 	Balance
	 
	2030 Totals

	 	 	299,960.21	 	 	 	5,911.78	 	 	 	294,048.43	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Grand Totals

	 	 	6,544,586.40	 	 	 	2,044,586.40	 	 	 	4,500,000.00	 

Last interest amount decreased by 1.83 due to rounding.exv10w18

Exhibit 10.18

UNCONDITIONAL GUARANTY

OF PEAK RESORTS, INC.

     Peak Resorts, Inc. (the “Guarantor”) hereby unconditionally guarantees the full and
prompt payment and performance of all obligations of W.C. Acquisition Corp. (the “Borrower”)
arising out of or relating to a Promissory Note in the original principal amount of FOUR MILLION
FIVE HUNDRED THOUSAND DOLLARS ($4,500,000.00) (the “Note”) that was executed and delivered to
Meadow Green-Wildcat Corp., Meadow Green-Wildcat Skilift Corp., and Wildcat Mountain Ski Area, Inc.
(collectively the “Lender”) on or about October, ____, 2010 whether now existing or hereinafter
arising, all as the same may be amended, extended, renewed, or modified (all of the foregoing
obligations, debts and liabilities of the Borrower being hereinafter referred to as the
“Liabilities”); the Lender shall not be required to pursue or to exhaust its remedies against the
Borrower, or its successors or against any other party liable for payment of any obligation of the
Borrower, whether maker, guarantor, or otherwise, or against any property or assets mortgaged or
pledged as security therefor, but upon nonpayment or nonperformance thereof may immediately demand
and enforce payment and performance from Guarantor pursuant to this Guaranty. Guarantor hereby
waives demand, notice and protest and waives recourse to all suretyship and guarantorship defenses
generally and agrees that the liabilities of Guarantor hereunder shall not be affected in any way
by any release of security or by the granting of any indulgence by the Lender to any party liable
for payment of any obligations guaranteed hereby, or to any other guaranty thereof, or any other
party; nor shall the liability of Guarantor be affected in any way by any failure, inability or
neglect of the holder of said Note to take any action with respect to, to realize upon or to
obtain, any security, rights,

 

 

endorsements or guaranties relating to any of said obligations guaranteed hereby; nor shall the
liability of Guarantor be affected by any fraud, bankruptcy, reduction of the amounts owed by the
Borrower to the Lender to zero, or any other matter; Guarantor hereby meaning to waive any and all
matters whatsoever whereby Guarantor would or might be released, in whole or in part, from the
obligations hereof, it being the intent hereof that Guarantor at all times be liable to the Lender
to the same extent as if Guarantor were jointly or severally liable with the Borrower to the Lender
for payment of all Liabilities and performances of all of the terms and provisions of such
Liabilities.

     If any payment or amount paid on any debt of the Borrower to the Lender, whether or not the
same has been applied to such debt by the holder thereof, must be returned by the Lender for any
reason or lawfully required to be turned over by the Lender to any other person or entity,
Guarantor shall be liable for payment of such amounts as though they have never been so paid or
applied. This Guaranty shall be binding upon the successors and assigns of Guarantor.

     Except as otherwise provided herein, Guarantor hereby irrevocably agrees that any legal action
or proceeding arising out of or relating to this Guaranty may be brought in any state or federal
court in the State of New Hampshire, at the election of the Lender.

     Guarantor hereby agrees to pay all costs and expenses incurred by the Lender in seeking to
enforce this Guaranty and in collecting or in attempting to collect any Liabilities from any party
liable therefor, including without limitation all attorney’s fees incurred in connection therewith.

     This Guaranty shall in all respects be a continuing, absolute, and unconditional guaranty, and
shall remain in full force and effect (notwithstanding, without limitation, the cessation of

 

 

operation of Guarantor or that at any time or from time to time all Liabilities may have been paid
in full), subject to discontinuance only upon actual receipt by the Lender of written notice from
Guarantor or any person duly authorized and acting on behalf of Guarantor of the discontinuance
hereof or cancellation of this Guaranty by the Lender, provided, however, that no such notice of
discontinuance shall affect or impair any of the agreements and obligations of Guarantor hereunder
with respect to any Liabilities existing prior to the time of actual receipt of such notice by the
Lender, any extensions or renewals of any of the foregoing, any interest on any of the foregoing,
any expenses paid or incurred by the Lender in endeavoring to collect any of the foregoing and in
enforcing this Guaranty against Guarantor; and all of the agreements and obligations of Guarantor
under this Guaranty shall, notwithstanding any such notice of discontinuance, remain fully in
effect until all such Liabilities (including any extensions or renewals thereof) and all such
interest and expenses shall have been paid in full. Any amount received by the Lender from any
source on account of the Liabilities may be applied by the Lender to the payment of such of the
Liabilities, and in such order of application, as the Lender may from time to time elect.

     The Lender may, from time to time, whether before or after any discontinuance of this
Guaranty, without notice to Guarantor, assign or transfer any or all of the Liabilities or any
interest therein, and notwithstanding any such assignment or transfer or any subsequent assignment
or transfer thereof, such Liabilities shall be and remain Liabilities for purposes of this
Guaranty, and each and every immediate and successive assignee or transferee of any of the
Liabilities or of any interest therein shall, to the extent of the intent of such assignee or
transferee in the Liabilities, be entitled to the benefits of this Guaranty to the same extent as
if such

 

 

assignee or transferee in the Liabilities were the Lender, provided, however, that unless the
Lender shall otherwise consent in writing (which consent shall not impair this Guaranty in any way
whatsoever), the Lender shall have an unimpaired right, prior and superior to that of any such
assignee or transferee, to enforce this Guaranty, for the benefit of the Lender, as to those of the
Liabilities which the Lender has not assigned or transferred.

     No delay on the part of the Lender in the exercise of any right or remedy shall operate as a
waiver thereof, and no single or partial exercise by the Lender of any right or remedy shall
preclude any other or further exercise thereof or the exercise of any other right or remedy; nor
shall any modifications or waiver of any of the provisions of this Guaranty be binding upon the
Lender, except as expressly set forth in writing duly signed and delivered by an officer of the
Lender. All rights and remedies of the Lender shall be cumulative, and may be exercised at any
time or from time to time either singly or in combination. No action of the Lender permitted
hereunder shall in any manner affect or impair the rights of the Lender or the obligation of
Guarantor under the Guaranty. For the purpose of this Guaranty, Liabilities shall include all
obligations of the Borrower to the Lender, whether now existing or hereinafter arising, as the same
may be amended, extended, renewed or modified, notwithstanding any right or power of the Borrower
or any other person or entity to assert any claim or defense as to the invalidity or
unenforceability of any such obligation, and no such claim or defense shall affect or impair the
obligations of Guarantor hereunder.

     This Guaranty shall be construed in accordance with, and shall be governed by, the laws of the
State of New Hampshire. Wherever possible each provision of this Guaranty shall be interpreted in
such manner as to be effective and valid under applicable law, but if any provision

 

 

hereof should be invalid or unenforceable under such law, such invalidity or unenforceability
shall not affect in any way the continued validity and enforceability of any other provision
hereof.

     Guarantor hereby expressly waives: (a) notice of acceptance by the Lender of this Guaranty,
(b) notice of the existence or creation or nonpayment of all or any of the Liabilities, (c)
presentment, demand, notice of dishonor, protest, and all other notices whatsoever, and (d) any
right to indemnity, contribution, exoneration or reimbursement of any kind by any other party
directly or indirectly liable for any of the Liabilities, whether maker, endorser, guarantor or
otherwise on account of any payment made hereunder, and any right of subrogation to the rights,
remedies or security of the holder hereof on account of any payment made hereunder, and (e) all
diligence in collection or protection of or realization upon the Liabilities or any thereof, any
obligation hereunder, or any security for or guaranty of any of the foregoing.

     Guarantor, for itself and its successors, and assigns, hereby knowingly, voluntarily , and
unconditionally waives any and all rights that Guarantor may have to a trial by jury in any action
or proceeding based upon or related to this guaranty, or the Note, or in way related to the
administration of the Note hereby or the exercise of rights or remedies related thereto.

     Guarantor, for itself and its successors, and assigns, hereby agrees to defend and hold
harmless the lender and its officers, members, and employees from any claim, demand, suit, or
action or other proceedings whatsoever by any person or entity whatsoever and any expenses or
damages, including charges of outside and in-house counsel arising or purportedly arising from or
in connection with the Lender’s extension of credit to Borrower.

 

 

     IN WITNESS WHEREOF, Guarantor has hereunto set his hand and seal this 12th day of November,
2010.

	 	 	 

	 

	 	PEAK RESORTS, INC.
	 
	 	 
	/s/ Dawn M. Humphreys

	 	/s/ Stephen Mueller
	 

	 	 
	Witness

	 	By: Stephen Mueller

Its: Vice President

 

 

SCHEDULE A

Schedule of Items

	 	 	 
	Item	 	Deadline for Completion
	Mount Snow shall organize and duly form a wholly owned
subsidiary entity (the “Joint Venture Entity”), pursuant to
organizational documents approved by Lender, for the purpose
of commencing the development and/or sale of the Development
Land, as such term is contemplated by the term sheet dated
February 9, 2006 by and between Lender and Peak Resorts, Inc.
(the “Term Sheet”) The Joint Venture Entity shall be structured as
specified in the Term Sheet, except that proceeds with respect to
sales of the Development Land shall be shared 50/50 as between
Lender and Mount Snow following full repayment of the
Development Loan. Alternatively, and in lieu of the foregoing
Lender may approve in its discretion such other transaction
structure as may be proposed by Mount Snow, provided that such
transaction structure ultimately causes the same economic results
as the foregoing transaction structure with respect to the Joint
Venture Entity and sales of the Development Land.

	 	April 1, 2011
	 
	 	 
	Mount Snow shall submit to Lender for its approval a written list of
parcels within the Project (as defined in the Loan Agreement of
even date herewith between Peak and Lender) that Mount Snow
desires to constitute the Development Land, which Development
Land shall include, without limitation, the parcels commonly
referred to as the Hosea Mann Parcel and the
Howe Farm Parcel.

	 	April 1, 2011
	 
	 	 
	Mount Snow shall cause an ALTA/ACSM Land Title Survey to be
performed on the Development Land.

	 	April 1, 2011

5

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