Document:

FIRST AMENDATORY AGREEMENT

 

TO SUPPLEMENTAL AGREEMENT NO. VII

 

THIS FIRST
AMENDATORY AGREEMENT is entered into this 20th day of December, 2005, between WINTER PARK RECREATIONAL
ASSOCIATION, a Colorado nonprofit corporation (“Association”) and the CITY AND COUNTY OF DENVER, a
municipal corporation of the State of Colorado (“City,”).

 

W I T N E S S E T H:

 

WHEREAS, the Association and the
City entered into Supplemental Agreement No. VII to Agreement between Winter Park Recreational Association and the City and County
of Denver dated October 4, 2002 (the “Supplemental Agreement”), which amended and restated in its entirety an agreement
between the parties entered into on or about November 22, 1950, as amended; and

 

WHEREAS, the parties now desire
to amend the Supplemental Agreement to clarify certain fiscal terms.

 

NOW, THEREFORE, in consideration
of the mutual covenants and obligations set forth, the parties agree as follows:

 

1. Article 6, entitled CITY DECISIONS,
paragraph g, of the Supplemental Agreement is amended to read as follows;

 

g. Exercise remedies upon default by Intrawest under
the Lease (Section 15.2), Option Agreement (Sections 10.2(b), 10.3 and 10.4), Additional Consideration Agreement (Paragraph 4),
the Guaranty (Section 2A), or related documents except with the approval of the Mayor.

 

2. Article 11, entitled BUDGET AND OPERATING
EXPENSES REIMBURSEMENT, of the Supplemental Agreement is amended to read as follows;

 

11. Budget and Operating Expenses Reimbursement.
The Association shall deliver to the City no later than May 1 of each year, a copy of its budget for the following fiscal year.
The budget shall set forth an itemized list of the Association’s projected expenses to perform its duties hereunder for the following
year. The Association shall submit a reconciliation statement of its revenues and expenses for the previous year on or before September
30 of each year in such detail as the City and the Association may require. A representative of the Association shall appear before
the City Council of the City and County of Denver to answer any questions upon the City's request.

 

3. Article 13, entitled PROCEEDS FROM THE
LEASE AND OPTION AGREEMENT, of the Supplemental Agreement is amended to read as follows;

 

    	1

    	 

    

13. Proceeds from the Lease and Option Agreement.
The Association agrees to collect from Intrawest any and all money due or payable to the Association under the terms of the Lease
and to transmit all such money to the City as promptly as possible, and in no event later than thirty (30) days after receipt thereof.
If Intrawest makes a payment pursuant to the Option Agreement, the Association shall promptly make any required payment to an Agreed-Upon
Indebtedness Lender (as defined in the Lease) and retain the balance for its current and future administrative expenses, provided
that if the Association determines in its sole judgment from time to time that its future administrative expenses have been adequately
provided for, the Association shall use the excess proceeds to make prepayments to the Agreed-Upon Indebtedness Lender.

 

4. Except as herein amended, the Supplemental
Agreement is affirmed and ratified in each and every particular.

 

5. This Amendatory Agreement shall be executed
in two (2) counterparts, each of which shall be deemed to be an original, and all of which, taken together, shall constitute one
and the same instrument.

 

THIS SPACE INTENTIONALLY LEFT BLANK

 

    	2

    	 

    

IN WITNESS WHEREOF, the parties
hereto have caused this instrument to be executed as of the day and year first above written.

 

	 	[SEAL]	 
	 	 	 
	DEPURY CITY CLERK	 	CITY AND COUNTY OF DENVER
	 	 	 
	ATTEST:	 	 
	

/s/ Illegible	 	By: 	

/s/ Illegible
	WAYNE E. VADEN,	 	 	MAYOR
	Clerk and Recorder, Ex-Officio 	 	 	 
	Clerk of the City and County of Denver	 	 	 
	 	 	 
	APPROVED AS TO FORM:	 	 
	 	 	 
	COLE FINEGAN, Attorney	 	 
	for the City and County of Denver	 	 
	By: 	

/s/ Illegible	 	 	 
	 	Assistant City Attorney	 	 	 
	 	 	 	 	 
	 	 	 	 	 

	 	 	 
	 	 	REGISTERED AND COUNTERSIGNED:
	 	 	 
	 	 	 	By: 	/s/ Illegible
	 	 	 	 	Auditor
	 	 	 	 	 
	 	 	 	Contract Control No. RC-2Y008(1)
	 	 	 	 
	 	 	 	“CITY”

	 	 	 
	 	 	WINTER PARK RECREATIONAL ASSOCIATION,
	 	 	a nonprofit association
	 	 	Taxpayer (IRS) ID. No. 84-0406822
	 	 	 
	 	 	 	By: 	/s/ Illegible
	 	 	 	Title:	Secretary
	 	 	 	 	 
	 	 	 	 
	 	 	 	“ASSOCIATION”

    	3SECOND
AMENDATORY AGREEMENT

TO SUPPLEMENTAL AGREEMENT NO. VII

 

THIS SECOND AMENDATORY AGREEMENT (this
“Amendment”) is entered into this 30th day of December, 2008, by and between WINTER PARK
RECREATIONAL ASSOCIATION, a Colorado nonprofit corporation (the “Association”), and the CITY AND COUNTY OF
DENVER, a municipal corporation of the State of Colorado (the “City”).

 

W I T N E S S E T H:

 

WHEREAS, the Association and the
City entered into that certain Supplemental Agreement No. VII to Agreement between Winter Park Recreational Association
and the City and County of Denver, dated October 4, 2002, as amended by that certain First Amendatory Agreement to Supplemental
Agreement No. VII, dated December 20, 2005 (together, the “Supplemental Agreement”); and

 

WHEREAS, the parties now desire
to amend the Supplemental Agreement to clarify certain terms.

 

NOW THEREFORE, in consideration
of the mutual covenants and obligations set forth herein, the parties hereto agree as follows:

 

1.Residence Requirements for Citizen
Directors. Subsections 4.a.iii.2), 4.a.iv.2) and 4.a.v.2) are hereby amended to read as follows: “2) be a resident
of the City of Denver or have his or her principal place of business in the City of Denver.”

 

2.Right to Grant Easements. Section
7.a. of the Supplemental Agreement is hereby amended in its entirety to read as follows:

 

“a. Sell, transfer, exchange
or lease the Leased Assets, except with the approval of the Mayor and City Council, provided, however, that this restriction shall
not apply to (i) property that is subject to conveyance (including, without limitation, transfers of title, granting of easements
and the issuances of licenses) pursuant to the Option Agreement or the Lease or (ii) non-exclusive utility easements, rights-of-way
and licenses over, across, through and under its property for utility facilities that benefit the Winter Park Resort.”

 

3.Termination. The phrase “all
contract rights and choices in action” in Section 8.b. of the Supplemental Agreement is hereby revised to read “all
contract rights and choses in action.”

 

4.Inspection of Records. Section
10 of the Supplemental Agreement is hereby amended to revise the first sentence and add a new second sentence to read as
follows (with the rest of section 10 to remain unchanged as in the original):

 

    	 

    	 

    

 

“10. Inspection
of Records. Other than records (but not including minute books) for the period prior to December 23, 2002,
which may be stored at Winter Park Resort and at the offsite records storage facility for Winter Park Resort, the Association
shall maintain its books and records in the City and County of Denver at a place known at all times to the City. Files
maintained electronically and accessible in the City and County of Denver shall be deemed to be located in the City and
County of Denver.”

 

5.Notices. The first sentence
of Section 12 of the Supplemental Agreement is hereby amended to read as follows (with the rest of section 12 to remain unchanged
as in the original):

 

“12. Notices. The
Association agrees to give prompt notice to the City of any and all notices of any kind or nature (except such notices
related to the sale of Developable Land as specified under sections 4.2, 4.4, 5.1, 5.2, and 6.2 and as said notices are
defined in Article I of the Option Agreement) that the Association receives from or delivers to Intrawest pursuant to the
terms of the Lease and Option Agreement and any related agreements, in whatever manner and to whatever persons as the City
may identify to the Association from time to time.”

 

6. Insurance. The second sentence
of Section 16 of the Supplemental Agreement is hereby amended to read as follows (with the rest of section 16 to remain unchanged
as in the original):

 

“It is further agreed that the Association
and the Risk Management Division shall reevaluate the reasonableness of the amounts and types of insurance held by the Association
and by the tenant under the Lease on behalf of the Association every three (3) years, and if such amounts or types of insurance
have become inadequate, they shall agree to such additional insurance or policy amounts or coverage as necessary, subject to commercial
availability and consistent with the need to protect the City and the Association.”

 

7.Defined Terms. Any capitalized
terms contained in this Amendment that are not defined herein shall have the meaning ascribed to them in the Supplemental
Agreement.

 

8.No Further Changes. Except
as herein amendment, the Supplemental Agreement is affirmed and ratified in each and every particular and shall remain in full
force and effect.

 

9.Counterparts. This Amendment
may be executed in counterparts, each of which shall be deemed an original and both of which together shall constitute one and
the same instrument.

 

    	 

    	 

    

 

IN WITNESS WHEREOF, the parties
hereto have caused this instrument to be executed as of the day and year first above written.

 

	ATTEST:	 	CITY AND COUNTY OF DENVER:
	By: 	

/s/ Stephanie Y. O’Malley	 	By: 	

/s/ Illegible
	 	STPHANIE Y. O’MALLEY

Clerk and Recorder and Ex-officio

City Clerk	 	 	Mayor

 

	APPROVED AS TO FORM:	 	RECOMMENDED AND APPROVED:
	 	 	 
	DAVID R. FINE, Attorney

for the City and County of Denver	 	 	 
	By: 	

/s/ Illegible	 	By:	

/s/ Illegible
	 	Assistant City Attorney	 	 	Manager of Parks and Recreation

 

	 	 	REGISTERED AND COUNTERSIGNED:
	

	 	By: 	

/s/ Illegible
	 	 	 	Manager of Finance
	 	 	 	 
	 	 	By:	/s/ Illegible
	 	 	 	Auditor
	 	 	 	 
	 	 	 	Contract Control No. RC2Y008(2)

 

 

	 	 	“CITY”
	 	 	 
	 	 	WINTER PARK RECREATIONAL ASSOCIATION,

a Colorado nonprofit association

Taxpayer (IRS) ID. No. 84-0406822
	

	 	By: 	

/s/ Illegible
	 	 	 	President
	 	 	 	 
	 	 	“ASSOCIATION”

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00223-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00223-of-00352.parquet"}]]