December 22, 2005

MEMORANDUM

To: Summit County Council (SCC) From: Tiffanie Northrup-Robinson, County Planner Date of Meeting: December 13, 2017 Type of Item: Canyons Specially Planned Area and Development Agreement Master Plan Amendment – Public Hearing, Possible Action Process: Legislative Review ______

On the November 29, 2017 a public hearing was conducted for the Canyons Specially Planned Area and Development Agreement Master Plan Amendment. From that public hearing and discussion, the County Council specified three (3) items of that needed additional information and clarification.

These items included:

1. Red Pine Road Easement platting - EXHIBIT 1 2. Sustainability statement – EXHIBIT 2 3. Narrative explaining the metrics of the 27% traffic reduction plan – EXHIBIT 3

Attached is the documented response from the applicant regarding the above listed items. Additionally, staff has attached the previous staff report with updated exhibits for your reference and review.

RECOMMENDATION

Staff recommends that the Summit County Council (SCC) consider the merits of the Canyons Specially Planned Area (SPA) Master Plan and Development Agreement (DA) Amendment request to modify the Land Use and Zoning chart and site specific design guidelines.

Staff further recommends that SCC conduct a public hearing and take into consideration all public comment that pertains to the requested amendments. Staff further recommends that the County Council approve the proposed Canyons Specially Planned Area (SPA) Master Plan and Development Agreement (DA) Amendment through adoption of Ordinance 334-C, based on the findings of fact, conclusions of law and conditions of approval outlined in the attached staff report.

SURVEYOR'S CERTIFICATE

To Deutsche Bank Trust Company Americas, as administrative agent and collateral agent, for itself and certain lenders, Deutsche Bank Securities Inc., as lead arranger and bookrunner, together with their respective successors and assigns as their interests may appear, Stewart Title Guaranty Company, Coalition Title Company, Jones Day LLP, TCFC PropCo LLC and TCFC LeaseCo LLC.

This is to certify that this map or plat and the survey on which it is based were made in accordance with TO the 2011 Minimum Standard Detail Requirements for ALTA/ACSM Land Title Surveys, jointly established and SALT LAKE CITY adopted by ALTA and NSPS, and includes Items 1, 3, 4, 6(a), 7(a), 8, 9, 11(a), 16, 18 and 21 of Table A NOT TO SCALE thereof. ThplteId work wa completed on September 30, 2013.

KIMBALL John Demkowicz Date 0 JUNCTION

NARRATIVE UTAH OLYMPIC 1. This is an ALTA survey of lands identified in a Policy for Title Insurance, Policy No. M-9302-3567112, dated PARK May 29, 2013, File No. 21835, prepared by Coalition Title Agency and underwritten by Stewart Title Guaranty Company.

2. This survey includes the Retracement and Dependent Resurvey of certain sections shown in the Appendix and by reference made a port of this survey.

RANCH ROAD 3. The surveyed properties are located in Zone X: areas determined to be outside of the 0.27. annual chance floodplain as shown on the Flood Insurance Rate Map, effective March 16, 2006.

4. Zoning: All of the land is zoned Canyons SPA Zone District pursuant to Summit County Ordinance No. 333-A, dated November 15, 1999, and the Amended and Restated Development Agreement for The Canyons Specially Planned Area, as recorded in the Office of the Summit County Recorder as Entry No. 553911, in Book 1297, at TABLE OF CONTENTS Pages 405-503. 1 SHEET NO. DESCRIPTION 5. There is no evidence of the site used as a solid waste dump or sanitary landfill. CITY 1 COVER SHEET 6. The area of the surveyed property is 2,667 acres. 2 OVERALL BASE AREA 2A OVERALL BASE AREA (W/AERIAL PHOTOGRAPH) 3 PARCEL 11 PARCEL F 4 PARCEL 11 PARCEL G-1, V-2, H-1 & H-2 5 PARCEL 11 PARCEL C & C-1 6 PARCEL 11 PARCEL E-1 & E-2 VICINITY MAP 7 PARCEL 11 PARCEL A-4 8 PARCEL 11 PARCEL D, N, CIEL 9 PARCEL 11 PARCEL V-1 10 PARCEL 11 PARCEL A, S-3, S-4 & S-5 11 PARCEL 11 PARCEL A-1, A-3 & A-3A, PARCEL 21 PARCEL A-2 12 PARCEL 11 PARCEL B-1, B-2 & B-3 13 PARCEL 11 PARCEL M & I 14 PARCEL 11 PARCEL K-1, K-2, K-3, K-4, K-5, K-6 & K-7 14A PARCEL 11 PARCEL K-1, K-2, K-3, K-4, K-5, K-6 & K-7 (1P/AERIAL PHOTOGRAPH) 15 PARCEL 21 PARCEL 1 & PARCEL 31 PARCEL OSG PARCEL 41 PARCEL J & EXCEPTION 66 15A PARCEL 21 PARCEL 1 & PARCEL 31 PARCEL OSG PARCEL 41 PARCEL J & EXCEPTION 66 (W/AERIAL PHOTOGRAPH) 15B PARCEL 21 PARCELS 2 AND 3 16 PARCEL 21 PARCEL SDLC: COMMERCIAL UNIT 1 17 PARCEL 21 PARCEL SDLC: COMMERCIAL UNIT 1 18 PARCEL 21 PARCEL SDLC: COMMERCIAL UNIT 1 19 PARCEL 2) PARCEL GSH: COMMERCIAL UNIT 1 20 PARCEL 21 PARCEL GSH: COMMERCIAL UNIT 1 21 PARCEL 2) PARCEL GSH: COMMERCIAL UNIT 1 22 PARCEL 21 PARCEL GSH: COMMERCIAL UNIT 1 23 PARCEL PARCEL GSH: COMMERCIAL UNIT 1 24 PARCEL 21 PARCEL GSH: COMMERCIAL UNIT 1 25 PARCEL 21 PARCEL GSH: COMMERCIAL UNIT 1 26 PARCEL 21 PARCEL GSH: COMMERCIAL UNIT 1 27 PARCEL 21 PARCEL SILVERADO: COM-1, COM-3, COM-4 28 PARCEL 31 Sc PARCEL 4 EASEMENTS AND LEASEHOLD ESTATES 29 PARCEL 31 SKI EASEMENTS 30 PARCEL 31 SKI EASEMENTS 31 PARCEL 31 ROAD EASEMENTS 32 PARCEL 31 ROAD EASEMENTS 33 EXCEPTION SUMMARY 34 EXCEPTION 75 35 EXCEPTIONS 133, 216, 217 36 EXCEPTIONS 71, 119, 120, 121, 122, 123, 126, 131, 132, 133, 135, 151, 152, 188, 207, 216 37 EXCEPTIONS 114, 117, 124, 125, 126, 127, 183, 213, 216 38 EXCEPTIONS 119, 124, 126, 137, 138, 151, 152, 153, 157, 187, 188, 194, 202, 206, 207, 216 1600' 0 1600' 3200' 39 UTILITIES - OVERALL 40 UTILITIES - DETAILS H APPENDIX (CONTAINS 4 SHEETS) RETRACEMENT AND DEPENDENT RESURVEY OF T1S, R3E, SLB&M-SECTIONS 22,23,26,27,34,35,36 T2S, R3E, SLB&M -SECTIONS 1,2,3,10,11 ALTA/ACSM LAND TITLE SURVEY (435) 649-9467 STAFF: SHEET JOHN DEMKOWICZ n MARSHALL KING CANYONS ,./xA- e ini MARTY MORRISON COVER SHEET BLAKE MYERS HARRISON HOLLEY OF JEFF KITCHEN CONSULTING ENGINEERS 1.400 PLANNERS SURVEYORS JOB NO.: 10-7-12 40 61 City, Won 64060-2664 3/17/14 3 M. Ur. P.O. Box 26 Parlt DATE: FILE: X:\CanyonsLOP \ dwg \ sry \ srvy2012 \ 100712 \ cover_sheet.dwg EXHIBIT 1-1 *

CENTER SEC 36 E 1/4 COR SEC 36

, PARCEL V-2

PARCEL CIEL, PARCEL 5 PARCEL D PARCEL CIEL, PARCEL 5

PARCEL

PARCEL D PARCEL F

PARCEL F

PARCEL V-1, PARCEL 3 PARCEL N

PARCEL V-1, PARCEL 4 PARCEL C-1 PARCEL 6-2 PARCEL 8-2 PARCEL V-1, PARCEL 2 PARCEL N NRCECZ PARCEL C PARCEL B-2 PARCEL 8-1

PARCEL 13-1 PARCEL F

PARCEL A-4 PARCEL V-1, PARCEL 1

PARCEL B-1 - PARCEL A-1 -

PARCEL E'=-1Th '7P

PARCEL S-4 /, PARCEL A

PARCEL S-3 PARCEL A

PARCEL A-2 PARCEL M PARCEL S-5 PARCEL A-3

PARCEL H-2 ;~St 4CUR 36 SEC PARCEL A-3A

PARCEL I

PARCEL H-1

200' 0 200' 400'

DATE OF PHOTOGRAPHY: JULY 2012 (ON ALL SHEETS WITH PHOTO)

66S-.61 (,,,N STAFF: ALTA/ACSM LAND TITLE SURVEY SHEET JOHN DEMKOWICZ '2 MARSHALL KIN G TALISKER CANYONS LANDS LLC MARTY MORRISON 2A BLAKE MYERS OVERALL BASE AREA HARRISON HOLLEY OF JEFF KITCHEN CONSULTING ENGINEERS (AND PLANNERS SURVEYORS JOB NO.: 10-7-12 40 N:3 Nom sue, '0 IN 2664 Perk CO. Won 84050-2664 DATE: 3/17/14 FILE: X:\ CanyonsLOP \ dwg \ srAsrvy2012 \ 100712 \ base_area_w_phoio.dwg EXHIBIT 1-2 Foil DESCRIPTIONS PARCEL C PARCEL C-1 COMMENCING at a point which Is North 1360.64 feet and West 78/23 feet from the Southeast corner of Section 36, Township 1 South, Range 3 East, Salt Lake Gass and Meridian: and running thence Easterly COMMENCING at a point which is North 1360.64 feet and West 782.23 feet from the Southeast corner of Section 38, Township 1 South. Range 3 East, Salt Lake Base and Meridian; which point is also the Southwest along the North right of way line of a street formerly known as Park West Drive and along the arc of a 1200 foot radius curve to the left, 136.805 feet through a central angle of 611'55. (chord bears North comer of Park West Condominiums (Georgetown Portion) according to the Record of Survey Map recorded In the Office of the Summit County Recorder: thence following the Southerly line of said Condominiums. North 711557. Eost 136.731 feet;) thence continuing along sold North right of woy and along the arc of a 469.700 foot radius curve to the right 278.726 feet through a central angle of 34'00'00. (chord bears North 71'30' East 104.58 feet; thence North 20/8'28" West 125.00 feet; thence North 64'08' East 212.10 feet; thence South 40' East 228,35 feet: thence South 78-48' East 152.95 feet; thence Easterly 249.38 feet along 85-00'00" East 274.654 feet;) thence South 78'00'00" East along sold North right of way 143.265 feet; thence 249.38 feet along the aforesaid right of way and along the arc of a 320.0 foot radius curve to the the North right of way line of a street formerly known as Pork West Drive, and along the ore of a 320 foot radius curve to the left through a central angle of 44'36'06" (chord bears North 79'40'27. East 243.119 left, through a central angle of 44-39'06. (chord bears North 79-40'27" East 243.119.) to a point on the East section line of Section 36; thence South 00-00/6. East 189.29 feet, more or less, along said section feet;) to o point on the East line of Section 36; thence South 000/6" East 189.29 feet, more or less, along said section line to a point which is North 1253 feet horn the Southecst corner of Section 36; thence line to a point which Is North 1253 from the Southwest corner of Section 36; thence West 1336.11 feet, more or less, to the West line of the Southeast Quarter of the Southwest Quarter of Section 36; thence West 1336.11 feet, more or less, to the West line of the Southeast Quarter of the Southeast Quarter of Section 36; thence Northerly along said West line 250 feet; thence North 72'45'44" East 407.95 feet, more or Northerly, along said West line, 250 feet; thence North 72.45'44. East 407.95 feet, more or less, to the Westernmost angle in the boundary of the Park West Condominiums; thence South 1878'413" East along sold less, to the Westernm.t ongle In the boundary of Park West Condominiums; thence South 1818'40. East along sold boundary 89.02 feet; thence South 3714'50" East along said boundary 224.88 feet to the point boundary 89.02 feet; thence South 3714'50. East 224.88 feet, along said boundary to the point of beginning. of commencement. LESS AND EXCEPTING THEREFROM any portion thereof within the bounds of RED PINE TOWNHOUSES, according to the Record of Survey Mop recorded in the Office of the Summit County Recorder. LESS AND EXCEPTING THEREFROM any portion thereof within the bounds of RED PINE TOWNHOUSES, according to the Record of Survey Map recorded In the Office of the Summit County Recorder. ALSO LESS AND EXCEPTING THEREFROM any portion thereof within the bounds of the following described property, as deeded to Wolf Mountain Resorts, L.C., a Utah limited liability company, in the Warranty Deed ALSO less and excepting therefrom the following: recorded September 19, 1997 as Entry No. 487696 In Book 1077 at page 442 of Official Records: WRN Commencing at the west quarter corner of Section 31, Township 1 South, Range 4 East, Salt Lake Base and Meridian; thence along the west line of sold Section 31 South 00130/1" West a distance of 533.56 feet; COMMENCING at a point which is North 1360.64 feet and West 782.23 feet from the Southeast corner of Section 36. Township 1 South, Range 3 East, Salt Lake Base and Meridian; and running thence Easterly along thence wooing said section line North 8959'29" West a distance of 270.94 fart to the POINT OF BEGINNING; thence South 5000'02" West a distance of 470.99 feet; thence North 9000'00. West a distance of the North right of way line of o street formerly known as Park West Drive and along the arc of a 1200 toot radius curve to the left, 136.805 feet through a central angle of 611'55" (chord bears North 7115'57. 102.03 feet; thence South sono•or West a distance of 278.50 feet; thence South 11-41'30. West a distance of 225.92 feet; thence South 8201/4" West a distance of 171.13 feet; thence South 72'0015. West East 136.731 feet.) thence continuing along said North right of way and along the arc of o 469.700 foot radius curve to the right 278.726 feet through a central angle of 34/0'00., (chord bears North 85'00'004 distance of 201.17 feet; thence North 821612. West a distort. of 347.47 feet; then. South 85/8'04. West a distance of 202.71 feet; thence North 90-00'00. West a distance of 306.42 feet; thence North East 274.654 feet;) thence South 78'00'00" Eost along said North right of way 143.265 feet; thence along the aforesaid right of way and along the arc of a 320.00 foot radius curve to the left, through o central 86-22'02. West o distance of 609.97 feet; thence South 00/0'00" East a distance of 394.05 feet; thence North 47'30'47" West a distance of 742.66 feet; thence South 74'22'43" West a distance of 719.71 feet; angle of 4419'06., (chord bears North 79'40'27. Eost 243.119;) to a point on the East section line of Section 36; then. South 0000'26. East 189.29 feet, more or less, along said section line to a point which Is thence North 3742/7" West a distance of 413.74 feet; thence North 45/1'07. East a diston. of 515.90 feet; thence North 81'42'13" East a distance of 327.18 feet; thence South 00'44.12- West a distance of North 1253 from the Southwest corner of Section 36; thence West 1336.11 feet, mare or less, to the West line of the Southeost Quarter of the Southwest Quarter of Section 36; thence Northerly, clang said West 25.53 feet; thence South 8801'56• East a distance of 220.76 feet; thence South 65'49'07" Eost a distance of 52.15 feet; thence South 89-48'04" East a distance of 77.70 feet; thence North 0010'55. West a line, 250 feet; thence North 72-45'44" East 407.95 feet, more or less, to the Westernmost angle in the boundary of the Park West Condominiums; thence South 1828.40° East along said boundary 89.02 feet; distance of 77.40 feet; thence South 77-35'33. East a distance of 180.31 feet; thence South 1012'36" West a distance of 33.15 feet; thence South 71'48'03" East a distance of 167.51 feet; thence South thence South 37.14.50e Eost, along said boundary to the point of beginning. 34-50'28. West a distance of 132.90 feet: then. North 84'31'47" West a distance of 293.50 feet; thence South 67'20'38. West a distance of 26.32 feet; thence South 86'42'58" West a distance of 322.15 feet; thence South 00'33'08. West a distance of 48.43 feet; thence South 8926'52. East a distance of 386.04 feet; thence North 66-40'55. East a distance of 114.23 feet; thence South 84'55/1. East a distance of 93.44 feet; thence South 6113'08" East a distance of 142.27 feet; thence South 79'40'32. East a distance of 257.87 feet; thence North 8954'42. Eost o distance of 93.39 feet; thence North 0013'26. West a distance of 117.30 feet; thence South 58•9/4" East a distance of 286.02 feet; thence North 46/8'46" East a distance of 44.83 feet; thence South 51/319" East a distance of 125.97 feet; thence South 7275'33. Eost a distance of 144.35 feet; thence North 88.58'01. East a distance of 309.96 feet; thence North 71-58'23" East a distance of 138.22 feet; thence North 62'43/4. East a distance of 147.77 feet; MUM_ to the left; thence along the arc of said curve through a thence North 2904'15. East o distance of 39.83 feet; thence South 79'00'00. East a distance of 150.58 feet to a point on a 275.00 foot radius curve 1. EXCEPTION 70: PARK CITY WEST PLAT No. 2 affects Parcel C. This affecting portion central angle of 37'57'30", a distance of 182.19 feet; thence North 6302'29" East a distance of 298,07 feet to a point on o 275.00 foot radius curve to the left; thence along the arc of said curve through a has been vacated. See Summit County Ordinance #332 and #332-A. central angle of 40'53'07•, a distance of 196.24 feet; thence North 22'09'22" East a distance of 33.36 feet; thence South 89-27'00. East a distance of 582.11 feet to said point of beginning.

FIWEPTION: EXCEPTIOI: BO, 39. 140 & 141 EXCEPTION: MI EXCEPTION: 77 MYTTEArwar "' EASEMENT AGREEMENT RICHT Or WAY EASEMENT ORMIT OF EA..1.4ENT gfAVT'IF2ENIttlENT 0GRANTOR WOLF MOUNT. RESORTS, LC O GRANTOR SNYDERMLLE DEWLOPMENT CO. INC. O LANTOr °F10.12,2,T0`.. 71;.C'HIZITS. OAMO M. RIC D. NES C k CRAW IA MACFARLANE, JR. 0 0 TJ TAN. roT.T'AX- iRS RESORT VILLAGE ASSOCIATION. INC. GRANTEE: LESTER F. HEWETT... "LE`RICrallgrIPAVASOT PROPERTIES GRANTEE: OUESTAR .5 COMPANY. GIANTEL MOUNTAIN FUEL SUPPLY COMPANY RECORDED: AUGUST 2. 1977 RECORDED: APRIL 30. 1999 ENTRY NO: ixasve RECORDED: NOVEMBER 16, Imo 'ET47ra: 2"711. ENTRY ND: 1.351 ENTRY NO.: 598 OFFICIAL RECOROS .22 ENTRY NO.7 173024 BOCK :sex PAGE 1195 BOOK 1197, PAGE 730 BOOK 1256 Poor 206 BOCK 1215., PAGE 540 BOCK MI72. PAGE 190

EXCEPTION: 79. 139, 140 EASEMENT 1 GRAN7rENE ENT ASSOMAENT OF EASEMENT E MENT L.-CREME GRANT 1' 0 O PINE COMMUNITY O GRANTOR: WOLF OUNT. RESORTS LC. 0 i:::4Nigt4: '21.1R14'.2 N2EITD4rotiAENTT CCRPOINTION 0' ERANFOli.1"74L11711AN. ''ACENENT CO. INC. GRANTOR VALLI. S RICHARDS MECCAS I HAMS GRANTOR RED GRANO SUMMIT RESORT PROPERTIES. INC. DISTRICT NE CANYONS RESORT VILLAGE ASSOCIATION, NC. GRANTEE: GERALO M. FRIEDMAN tr Su CARealo ASSOCIATES, LL.G„. GRANTEE: MOUNT. NEL SUPPLY COMPANY GRANTEE: SNWIEIVALLE BASN SEKR IMPROWNENT ANTEE: UTAH PONER 6 LIGHT COMPANY T SEPTEMBER 4, 1994 422TOVO: RECOROEO: JANUARY 31. 2030 0: OCTOBER 25, 2004 RECORDED: .PTEM.F1 la, 1981 RECCROCO: ENTRY Kt: 573127 ENTRY NO, 5582. O: 714876 ENTRY NO.: 162704 ENTRY NO: 224699 r=2": SOCK 1334. PACE 457 BOOK 1305, PAGE 70S .a PAGE 1 WOK M199, PAGE 647 BOOK 313, PAGE 190 BOOK MIL PROF .0

EXCEPTION 106. 139, I4D 141 EXCEPTION: 139. 140 6 141 COLLATERAL ASOGIMENT OF EASEMEN ASSIGNMENT OOF EASEMENTr CD -A-, 0Eix:EtETAA... r,1", E''CRANTIOT' FASE"IAENT E-7r,v,..41w,mgaztqAT CRANM MihIROUNTAN RESEmRTS, LC O GMOSINS RESORT VILA. ASSOCIATI AMER:CAN SONG COMPANY RESORT PROPERTES, INC. MOUNTAIN FUEL SUPPLY COMPANY GRANTEE: SNYDERMLLE BASAI SOAR IMPROVEMENT C4STRIC7 GRANTEE: BOIABARDER CAPITAL, INC CANrNS..R,EMArGE.orSOCIATION. INC. RECORDEO: OCTOBER 21. 1961 RECCROEM MEMBER 16. 1999 RECOROED: MAY 24. 2001 ENTRY NO: 55513 REC014.6: DECEMBER 29. 1996 ENTRY NO.: .19. ENTRY,Vi 52621 ENTRY NO.: 599696 ENT. NO.: 555590 BOOK 14201. PAGE 3. BOOK 1630, PAGE MN BOOK isrv. PAGE 1026 BOOK 1300. PAGE 1074

EXCEPTION. 231 EXCEPTION: 9.. it 140 0 jf,170.7Eli.ENTE GRANT OF EASEMENT FIRST AMENDMENT TO EASEMENT AGREEMENT O IRMO. PARK NEST HCMEONNERS ASSOCIAT, INC. OWNER: WOLF MOUNTAIN RESORTS. L.C. SCAM .14=171,%74vZ=LiETTAIT'' .,4aRANTER„ AS4pUTAH,RPTe. GRAND SUMMIT RF_SORT PROPERTIES INC. CAP RECORDED. JANUARY 31. 2003 • RECORDED: CECEMBER 15. 1999 ENTRY NO.. 559229 ENTRY NW 555374 ENTRY NO.: 573126 BOCK 1300. PAGE 4191 BOCK 133, PACE 466 BOO( 1.3, PAGE 695 Lr,

EXCEPTION: 55 EXCEPTIN: OD 139, 140 6 141 CORNER NOT GRANT OF EASEMENT FIRST AMENDMENT TO EASEMENT AGREEMENT O m arc. CD war OUNT. ESORTS. LC. &TM; gIZI; '20"=T AMERICAN SKIND COMPANY RESORT PROPERTIES INC. RECORDED JANUARY .72, 1990 RECORDED DECEMBER 20, 1.9 ENIRY NO1 319353 ENTRY NO.: 555579 9004 551. PA .0 ROOK 1300. PAGE 1057 P-1 EXPTKIN: 239 \ wt/b/1-„67, O =NW EiRatraL'ag 05 GRANTEE: JOSEPH W. GROUTAGE

EtWril:r 1%,121 122' BOOK NW, PAGE 699

EXCEPTION, 50 LO]PPMBCNT AREA MASTER PLAT k 0 lTra!s WE' :IX'TOENETIVAENT CO RECORDEDB OCLCMBCRSO aturra,' NOLF MOUNTAIN RESORTS, LE ENTRY NO.: 914098 + PARK WEST CONDOMINIUMS it RECORDED: FEBRUARY 9, MKS AMENDED BOUNDARY PUT ENT. NO . 2416 RECORDED: AUGUST 20, 2010 FLAT BOOK 666, PAGE M B ENTRY NO.: 905264 grifILFEASIErsr""'"'" PitTETE7PRaftwir CD GRANT IANCFARLANE,CHARO HOWE grr oda R101.3 MOYLE, 13. WEIGHT Ire GRANTOR PARK .S1 LAND CO. t GRANTEE: PARK MST CONGONNIUM OMENS ASSOCIATION RECCROEO: CECEMBER 19. 1294 XCEPRON: BOOK 362. PACE .5 171.13' ENTRY NO.: 421227 GRANT OF EASEMENT 82'01'24" E BOCK 955. PAGE 332 GRANTOR: PARR VEST HOMEOWNERS ASSOCIATI N ERANTE6 MOUNTAN 2,LI,E PPLY COMPANY &RV 12112229 ,SJ221'. LIOOK 461, PACE 6. • D Y ALUMINUM

PARCEL D _---- (sEL-sHEET 8) - -- GRANTOR: WOLF MOUNTAIN RSORTS. LC. GRANTEE: COMMUNITY WATER COMPANY d RECORDED: JANUARY 25. 2C07 ENTRY NO: B0313 - - 9004 1.3. PACE 1371

r:4'1EI''T AcerEMENT PARCEL C GRANTOR: WOLF MOUNTAIN RESCRTS. .0 GRANTEE: SUMMIT WATER DISTRIBUTION COMPANY WIT-CLAM DEED R JANUARY 25, 2007 GUNTON: PARK WEST LAND CO. EEO3RDED.:NTRY NO 90301 2 An PARCEL 8-2 ..C7ANTEEE6: RED PINE ro. ,Nx BOON 1.3. PAGE I. (SEE SHEET 12) ENTRY NO.: 260710 1,551,i7,7011", _ __ BOOK 406. PAGE 199 M AINHCCE 4..-KRICADON BOX L7 WEST 274.64' rclAVILLAGE DEVELOPMENT AREA 71f4;1#2 Nigf:5,11`,3 748" 2011 EXCEPTION: 45 iikkl.rilog EXCEPTION: 43 ORANT Or EASEMENT RIGHT OF WAYe EASEMENT GRANT GRANTOR: J. . KNOFCRECK, 14.13. 1 EXCEPPON. 77 GRANTOR: SNYDERMLLE OEVELOPMENT CO. GRANTEE: UTAH POKER 6 LIGN7 COMPANY GRANT Or EAKMENT ZANTEE:0, MrTAINEp4 SUPPLY COMPAN RECORDED APFOL 15. 1981 TOP RETENTIOR GRANTOR WOLF MOUNT. RESORTS, LC TRY NO.: 179410 BASH GRANTEE: OUESTAR GAS COMPANY ENTRY NO: 1?707.3' • 22° BOOK M.. PACE 677 RECCROED DECEMBER 29. 1996 BOOK MI. PAGE 179 ENTRY ND.: 529242 BOOK 1215. PAGE 5 0 2 EXCEPTION: 245

FiNITEiNITE11OBf.11r.EN`1911SiDL.; HoOLDINGS. LLC

ENWnrBB140:: 914111 LTF BOOK 2053, PAGE 1924 LEGEND

• Set 5/8" rebar w/cap, ALLIANCE ENGRAS 154491 UNE TABLE UNE BEARING DISTANCE O Found rebor w/cop unless otherwise noted L1 N 69159'45" E 48.50 • Set nail w/woshe, AE 154491 IFVVIVAN. L2 N 72'00'15" E 73.27 L3 S 69'59'45" W 48.50 C) Found nail w/wosher unless otherwise noted L4 N 00'00'00" E 79.63 50' 0 50' 100' iir4TOL " L5 N 78100'00" w 30.67 C)1 Keynote f« Exception ENTRY NO.: 525443 BOCK 1215, PAGE 559 LB S 00'00'00" W 88.00 L7 WEST 90.40 L8 N 02'00'00" E 58.02 35) 649-9467 ALTA/ACSM LAND TITLE SURVEY L9 N 78'00'00" W 29.69 STAFF: SHEET JOHN DEMKOWIC2 i MARSHALL KING TALISKER CANYONS LANDS LLC MORRISON 5 CURVE TABLE oriodada, MARTY PARCELS C & C-1 CURVE RADIUS LENGTH DELTA ;.:iisA HARE MYERS H R ISON HOLLEY OF C1 110.00 12.89 6.42.50- JEFF KITCHEN C2 90.00 37.70 24'00'00" CONSULTING ENGINEERS LAND PLANNERS SURVEYORS JOB NO.: 10-7-12 C3 339.50 63.80 10145'59" 4-0 303- 0- ,P.D.... -8- -O. - --- DATE: 3/17/14 FILE: X:\CanyonsLOP\dwg\sry\srvy2012\100712\parcel_c_c1.dwg EXHIBIT 1-3 LEGAL DESCRIPTIONS UNE TABLE CURVE TABLE PARCEL E-1 (AS SURVEYED) UNE BEARING DISTANCE CURVE RADIUS LENGTH DELTA cf) Elr.ztzr PARCEL E-1 (TITLE POLICY) ACFNILANE. RICHARD HOSE North 503 feet and West 448 feet from the Southeast corner Beginning at a point that is North 00'0531" East 399.20 feet along the section line L1 S W 21.54 C1 45.00 52.17 66'25'19" RICHARD MOYLE, RUTH B. NEICHT COMMENCING at a point scrovoo• of Section 36, Township 1 South, Range 3 East, Salt Lake Base and Meridian; and and West 448.06 feet from the southeast corner of Section 36, Township 1 South, L2 N 4517'42" W 10.57 C2 530.00 92.51 1crovor BCOK 362. PACE 345 running thence South 100 feet; thence North 89'58' West 59.4 feet; thence North Range 3 East, Salt Lake Bose and Meridian; and running thence West 63.42 feet to a L3 10.36 N 00'25'02" W 43'40' West 16.1 feet; thence North 2' West 9.34 feet; thence West 48.7 feet; thence point on an existing tennis court fence; thence along said tennis court fence the L4 S 89'35'57" W 49.36 CD EXCEPTION, 55 North 43'40' West 16.1 feet; thence North 2' West 9.34 feet; thence West 48.7 feet; following twenty-two (22) courses: 1) North 4517'42" West 10.57 feet; thence 2) L5 15.05 OUST CV EASEMENT North 00'25'02" West 10.36 feet; thence 3) South 89'35'57" West 49.36 feet; thence N 4415.13" W t'Z'ItlaP . 0" thence North 43'40' West 16.1 feet; thence North 2' West 9.34 feet; thence West 48.7 L6 10.23 rreTi ft zzam 4) North 441513" West 15.05 feet; thence 5) North 00'52'38" West 10.23 feet; thence N 00'52'38" W 1Z" feet; thence North 43'40' West 16.1 feet; thence North 97.4 feet; thence North 46' L7 S 89'43'32" W 49.40 BOOK 551. PAGE 530 East 16.1 feet; thence North 8915'45" East 37.4 feet; thence South 43'45' East 16.1 6) South 8943'32" West 49.40 feet; thence 7) North 45'04'33" West 15.05 feet; LB N 45'04'33" W 15.05 feet; thence South 27'9" East 9.34 feet; thence South 89'32'14" East 48.05 feet; thence 8) North 00'07'47" West 10.32 feet; thence 9) South 89'41'54" West 49.25 feet; West 98,45 L9 N 00r0747" W 10.32 Ef.74 D110 thence South 43'45' East 16.1 feet; thence South 27'9" East 9.34 feet; thence South thence 10) North 4525'40" West 15.15 feet; thence 11) North 00.17.25" O N. RICH 0 5 CA • GRANT MACFARLANE, JR. feet; thence 12) North 44'54'47" East 15.03 feet; thence 13) North 89'26'41" East L10 S 89,0'54" W 49.25 .ZIEt DA" 89'58'50" East 48.7 feet; thence South 43'40' East 16.1 feet; thence South 2'7'9 East RECORDED: AUGUST 2 11.7 38.44 feet; thence 14) South 44'57'44" East 15.14 feet; thence 15) South 00'2501" L11 N 45'25'40" W 15.15 ENTRY NO.: .351 9.34 feet; thence North 89'37'45" East 48.7 feet; thence South 45' East, more or BOOK PAM 730 East 10.33 feet; thence 16) North 89'39'26" East 48.65 feet; thence 17) South L12 98.45 less, 30 feet, more or less, to the point of commencement. N 0017'25" W 46.27'48" Eost 15.59 feet; thence 18) South 00'59'06" East 10.08 feet; thence 19) L13 N 44'54'47" E 15.03 EXCEPTION: BO North 89'51'05" East 49.26 feet; thence 20) South 45'07'05" East 15.16 feet; thence L14 N 8926.41* E 38.44 0:RARAlltr rINENEE TO&t.01:1/ENT L.L.C. ORANIFE: ROLF MOUNT. RESORTS. L.C. 21) South 00'09'05" East 10.18 feet; thence 22) North 89'44'46" East 49.32 feet; L15 15.14 RECONDFO: . lees PARCEL E-2 (TITLE POLICY) S 44'57'44" E ENTRY NO.: 424515 thence South 59'47'28" East 25.94 feet; thence South 103.80 feet to the point of L16 S 00'25'01" E 10.33 BON ON. PALE BM The following described tract of land in Section 36, Township 1 South, Range 3 East, beginning. Meridian: L17 N 89'39'26" E 48.65 Salt Lake Bose and Description contains 0.67 acres. L18 S 46'27'48" E 15.59 COMMENCING at a point on the North right of way of Chalet Drive, which point is North L19 S 0059'06" E 10.013 iggilltarigrs". 1982 403 feet and West 507.4 feet from the Southeast corner of the aforesaid Section 36; L20 N 89'51'05" E 49.26 and running thence North 43'40' West 16.1 feet; thence North 2' West 9.34 feet; L21 S 4.5'07.05" E 15.16 thence West 48.7 feet; thence North 43'40' West 16.1 feet; thence North 2' West 9.34 PARCEL E-2 (AS SURVEYED) L22 S 0029'05" E 10.18 feet; thence West 48.7 feet; thence North 48.7 feet; thence North 43'40' West 16.1 Beginning at a point that is North 00'00'31" East 565.00 feet along the section line L23 N 89'44'46" E 49.32 feet; thence North 2' West 9.34 feet; thence West 48.7 feet; thence North 43'40' West and 407.08 feet from the southeast corner of Section 36, Township 1 South, Range 3 East, Salt Lake Bose and Meridian; and running thence West 41.00 feet; thence South L24 N 59'47'28" W 25.94 16.1 feet; thence North 97.4 feet; thence North 46' East 126.1 feet; thence North 8915'45" Eost 37.4 feet; thence South 43'45' East 16.1 feet; thence South 2'7'9" East 62.00 feet; thence North 59'47'28" West 25.94 feet to point on an existing tennis 9.34 feet; thence South 89'32'14" East 48.05 feet; thence South 43'45' East 16.1 feet; court fence; thence along said tennis court fence the following twenty-two (22) 5/8" RERAN (NO GP) feet; thence courses: 1) South 89'44'46" West 49.32 feet; thence 2) North 00'09'05" West 10.18 FOUND 1.5j. ALU CAP W/PUNCH thence South 2-7'9^ East 9.34 feet; thence South 89'5550" East 48.7 5/030UND) NEIGHBOR,. BELOW GROUND) 15.16 feet; thence 4) South 89'51'05" West 49.26 CORNER) South 43'40' Eost 16.1 feet; thence South 2'7'9" East 9.34 feet; thence North feet; thence 3) North 45.07.05" West (MEASURED S EISIICt:19 E°5. ROM COMER) BUILDING ASURED 5 89111.4.2. E 0.15. FROM GRAVEL PAM 89'37'45" East 48.7 feet; thence South 45' East, more or less, 30 feet, more or less, feet; thence 5) North 00'59'06" West 10.08 feet; thence 6) North 4527'48" West 15.59 FOUND A AC2EP1E0 5/1. MBAR 5/000 to a point which Is North 503 feet and West 448 feet from the Southeast corner of feet; thence 7) South 89'39'25' West 48.65 feet; thence 8) North 00'25'01" West "'"'D V.110.7."tg S (MEAVREOs 49.34.54" W DAD FROM (0.BELOW 0000) the aforesaid Section 36; thence North 62 feet; thence East 41 feet; thence North 70 10.33 feet; thence 9) North 44'57'44" West 15.14 feet; thence 10) South 89'26'41" EAST 209.00' EXCEPTION: 43 feet; thence East 102.51 feet; thence North 30 feet, more or less, to a point which is West 38.44 feet; thence 11) South 44'54'47" West 15.03 feet; thence 12) South on the Southeast corner of the Red Pine Townhouses; thence West 61.51 feet along ORETE PAD Nag," SYYSEUTINUIPYNT D.01C 0017'25" East 98.45 feet; thence 13) South 4525'40" East 15.15 feet; thence 14) GRANTEE; MOUNTNN FUEL SUPPLY COMPrail the South boundary of said Townhouses to a point on a 45.00 foot radius curve to RECORDED: NOVEMBER 10. North 89'41'54" East 49.25 feet; thence 15) South 00'07'47" East 10.32 feet; thence the right, the radius point of which bears North; thence Northwesterly along said boundary and along the arc of said curve 52.17 feet; thence West along said boundary 16) South 45'04'33" East 15.05 feet; thence 17) North 89'43'32" East 49.40 feet; line 108,76 feet; thence North along said boundary line 55.00 feet; thence West along thence 18) South 00'52'38" East 10.23 feet; thence 19) South 4415'13" East 15.05 FOUND SPC REBAR WM, said boundary line 204 feet to a point on the East right of way line of Red Pine Road feet; thence 20) North 89'35'57" East 49.36 feet; thence 21) South 0025'02" East 10.0 la ACCEPTED 1.5' ALUMINUM CAP NO 1.0.) (RLEOBLE - REGR PROTRUDES THROUGH CAP) LE C EASTERLY. 0.15. BELEM MORRO) (S 2515.52. W 0.17. FROM RECORD LOCATION) which is also on the aforesaid South boundary line; thence South along said East 10.36 feet; thence 22) South 4517'42" East 10.57 feet to the northerly boundary of 131VHb and

- right of way line 189.6 feet, more or less, thence South 10'00" East along said right Chalet Drive; thence olong Chalet Drive the following three (3) courses: 1) West 67.32 0 (r'` /8as:7 7.r - of way line 175.72 feet, more or less, to a point which is North 403 feet, more or feet to a point on a curve to the left having a radius of 530.00 feet, of which the less, from the South Section line of said Section 36, and which Is on a line running radius point bears South; thence 2) along the arc of said curve 92.51 feet through a

3A18 North 89'58' West from the point of commencement; thence South 89'58' East 222 central angle of 10'00'01"; thence 3) South 80'00'00" West 21.54 feet; thence North feet, more or less. to the point of commencement. 10'00'00" West 190.07 feet; thence North 187.41 feet; thence East 5.00 feet to the GRASS AREA ROLL GUTTER southwest corner of Red Pine Townhouses, recorded February 19, 1982, as Entry No. Parcels E-1 and E-2 ore together with a right and easement of use and enjoyment in ENCROACH ONTO NEIGHBORING ASPHALT DRIVEWAY 188738 in the office of the recorder, Summit County, Utah; thence along the south rat PROPER, and to the 'Recreational Facilities" described in, and provided for in that certain boundary of said Red Pine Townhouses the following five (5) courses: 1) East 204.00 Declaration of Covenants, Conditions and Restrictions of the Recreational Facilities for 11, 1995 as Entry No. 231561 in Book 334 of feet; thence 2) South 55.00 feet; thence 3) East 108,76 feet to a point on a non Red Pine Community, recorded March tangent curve to the left having a radius of 45.00 feet, of which the radius point page 583 of Official Records. bears North 66'2519" East; thence 4) southeasterly along the arc of said curve 52.17 feet through a central angle of 652519"; thence 5) East 61.51 feet to the west boundary of Chalet Drive; thence along Chalet Drive South 45.00 feet; thence West 102.51 feet; thence South 70.00 feet to the point of beginning. PARCEL E-2 CONCR...E.,TE,,SDEVOLK Description contains 1.74 acres.

SUSPECTED HORSESHOE NI

El /E2 NOTES LEGEND 1. The description of Parcel E-2 contained in the title policy is identical with the • Set 5/8" rebar w/cap, ALLIANCE ENGR/LS 154491 description contained in the Sheriff's Deed, recorded October 30, 2012 as Entry unless otherwise noted 956332 in the Summit County Recorder's Office. The description of Parcel E-2 Off OWN MEO O Found mbar w/cop unless otherwise noted WO COANAINNY ASSOCIATPON contains two typographic errors when compared with previous deeds. The FOUNDADON 0 Set nail w/wosher, AE 154491 0.1• RECORDER: NOWANKR IR. HES BY ENTRY IN3,40710 description in previous deeds does not form a mathematically closed figure. The BOW •Oi. PAU 11111 0 Found nail w/washer unless otherwise noted LINOE ROOF 0 ANC j corrected/survey description shown on this survey is derived from bounds called in TO SUELECT the description and adjoiners deeds. Keynote for Exception /..-CHNN LINK FENCE • BY 25. 0 2. The description of Parcel E-1 contained in the title policy is identical with the description contained in the Sheriff's Deed, recorded October 30, 2012 as Entry 956332 in the Summit County Recorder's Office. The description does not form a mathematically closed figure. However, based on the Information on the face of the POSSIBLE GAP IN OWNERSHIP reference deeds listed below, a closed description was prepared. It is determined that Parcel E-1 is intended to describe the tennis court and the corrected/survey description is derived from the as-built field location.

3. The following documents recorded in the Summit County Recorder's Office were used in the preparation of the survey of Parcels E-1 and E-2: •Warranty Deed, Recorded August 2. 1977, Entry 139351 •Red Pine Chalets Phase 1, Recorded March 3, 1980, Plat No. 164351 •Red Pine Chalets Phase 2, Recorded May 5, 1980, Plat No. 166718 •Red Pine Chalets Phase 3, Recorded May 15, 1980, Plat No. 166719 TENNIS COURTS •Quit Claim Deed, Recorded November to, 1980, Entry 260710 PARCEL E-1 •Red Pine Chalets Phase 4, Recorded December 1, 1981, Plot No. 186197 •Red Pine Townhouses, Recorded February 19, 1982, Plat No. 188738 •Declaration of Covenants, Recorded February 12, 1985, Entry 231564 •Specia Warranty Deed, Recorded December 19, 1986, Entry 262478 •Specia Warranty Deed, Recorded December 19, 1986, Entry 262481 •Specia Warranty Deed, Recorded December 30, 1986, Entry 263074 •Specia Warranty Deed, Recorded December 30, 1986, Entry 263075 •Specia Warranty Deed, Recorded December 30, 1986, Entry 263076 •Quit C aim Deed, Recorded September 6, 1990, Entry 329546 •Quit C aim Deed, Recorded September 6, 1990, Entry 329547 •Ouit C aim Deed, Recorded September 24, 1990, Entry 330297 CHAIN LINK FENCE •Quit C aim Deed, Recorded September 24, 1990, Entry 330298 •Specia Warranty Deed, Recorded December 28, 1993, Entry 394643 •Specia Warranty Deed, Recorded December 19, 1994, Entry 421223 •Specia Warranty Deed, Recorded December 19, 1994, Entry 421229 •Specla Warranty Deed. Recorded December 19, 1994, Entry 421230 •Ouit C oim Deed, Recorded February 9, 1995, Entry 424511 510 1995, Entry 424518 , WEST 67.32' •Specia Warranty Deed, Recorded February 9, 30' 0 30' 60' T1 5//°c1+5GR •Certlficate of Sale, Recorded March 27, 2012, Entry 942062 •Joint Sheriff's Deed, Recorded October 30, 2012, Entry 956332 •Recorded Survey S-7228, Recorded November 1, 2010 •Recorded Survey S-2949, Recorded March 3, 1998

CHALET DRIVE 4. There is a conflict with the recorded surveys shown In Note 3 and Parcel E-2 as shown on the survey.

TY :lar11u1 atIV. RICHARDS. 0, .1Nas CANNON A MINT M. MCYARLAK. RTCORIEA ''D' 71AV 6"illra" ENMY NO., 11.32 (d!3) BOCK M31. PAGE 324 “--9+, STAFF: ALTA/ACSM LAND TITLE SURVEY SHEET'4% JOHN DEMKOWICZ MARSHALL KING TALISKER CANYONS LANDS LLC MARTY MORRISON PARCELS E- 1 & E- 2 6 SOUTHEAST CORNER BLAKE MYERS SECTION 36, T1S. R.. SOON - HARRISON HOLLEY OF JEFF KITCHEN JOB NO.: 10-7-12 CONSULTING ENGINEERS LAND PLANNERS SURVEYORS 40 . stme P.0 Box 264.1 PIGS Olty, ut. emaso-7661 DATE: 3/17/14 FILE: X:\CanyoneLDP\dwg\arAervy2012\100712\parcel_e1_e2.dwg •110 EXHIBIT 1-4 LEGAL DESCRIPTION '"'" PARCEL A-4 COMMENCING of a point which is North 1253 feet and West 750 feet from the Southeast corner of Section 36, Township 1 South, Ronge 3 East, Salt Lake Base and Meridian; and running thence South 510.6 feet; thence West 640 feet; thence North 510.6 feet; thence East 640 feet to the point of commencement.

ALSO: Beginning at the Southeast corner of Section 36, Township 1 South, Range 3 East, Salt Lake Base and Meridian; thence along the South line of said Section 36, North 8953'43" West 1,390.00 feet; thence leaving said Section line North 742.29 feet to the Northwest corner of the Groutage Parcel, Entry No. 429925 in Book 883 at page 699 on file and of record in the Office of the Summit County Recorder, said point being the PARC. -e- true point of beginning; thence along the North line of said Groutage Parcel East 43.23 feet to the Westerly right of way line of The Canyons Drive; thence leaving said Northerly line and continuing along sold Westerly right of way South 36'54'59" West 5.56 feet to PARCEL B-2 the beginning of a 220,00 foot radius curve to the left; thence along the arc of sold (SEE SHEET 12) curve and right-of-way 99.60 feet; thence through a central angle of 25'56'24" to the EAST 750.15' Westerly line of said Groutoge Parcel; thence North along said Westerly line 94.70 feet to the point of beginning. EXCEPTION: GRANT Or EASEMENT GRAN.: SNYDERMLLE DEVELOPMENT CO. INC. LSO: Beginning at the Southeast corner of Section 36, Township 1 South, Range 3 GRANTEE: MOUNTNN FUEL SUPPLY COMPANY A RECORDED: NOVEMBER 18, 1060 East, Salt Lake Bose and Meridian; thence along the South line of said Section 36, North ENTRY NO.: 173024 BOOK M . PAGE 100 89'53'43" West 1,390.00 feet; thence leaving said Section line North 742.29 feet to the Northwest corner of the Groutage Parcel, Entry No. 429925 in Book 883 at page 699 on file and of record In the Office of the Summit County Recorder, thence East along the Northerly line of said Groutage Parcel to the Westerly right of way line of The Canyons EXCEPTION: 246 EASEMENT AGREEMENT Drive and the true point of beginning; thence leaving sold Northerly line and continuing GRANTIR: SUMMIT COUNTY THE CANYONS GOLF along said Westerly right of way, South 36'54'59^ West 5.56 feet to the beginning of a 'TECORE'RE0: DECEMBER 30, 2010 220.00 foot radius curve to the left; thence along the arc of said curve and right of ENTRY NO.: 914111 BOOK 2003. reer way 99.60 feet through a central angle of 25'56'24" to the Westerly line of said Groutage Parcel; thence leaving said Westerly right of way and along sold Westerly line, PZi. South 75.30 feet to the Southwest corner of said Groutoge Parcel; thence East along the Southerly line of said Groutage Parcel 80.02 feet to the Easterly right of way line of gi"*IE The Canyons Drive and point of a 140.00 foot radius non-tangent curve to the right (Radius point bears North 7611'32" East); thence Northeasterly along the aforesaid right of way and along the arc of said curve 123.94 feet through a central angle of 50'43'27", PARCEL B-3 thence continuing along soid right of way, North 36'54'59" East 65.66 feet to the (SEE SHEET 12) Northerly line of said Groutage Parcel; thence along soid Northerly line West 100.06 feet to the point of beginning.

LESS AND EXCEPTING therefrom any portion within the bounds of the following described property, as deeded to Joseph W. Groutage, HI on the Special Warranty Deed recorded December 9, 1998, as Entry No. 524808 in Book 1209 of page 517 of Official Records, more particularly described as follows:

BEGINNING at the Southeast corner of Section 36, Township 1 South, Range 3 East, Salt Lake Base and Meridian; thence along the South Hne of said Section 36, North 89'59'43" West 1390 feet; thence leaving said Section line North 742.29 feet to the Northwest liw corner of the Groutage Parcel, Entry No. 429925 in Book 883 at page 699 on file and of record In the Office of the Summit County Recorder; thence East 143.48 feet along § the Northerly line of said Groutoge Parcel to the Westerly right of way line of the RED PINE TOWNHOUSES Canyons Drive and the true point of beginning; thence leaving said Northerly line and ! 6 continuing along said Westerly right of way North 36'54'49" East 81.72 feet to the beginning of a 310 foot radius curve to the left; thence along the arc of said curve and E.PTION: 140 k 141 I 19,;, GRANT Of EASEMENT right of way 98.68 feet through a central angle of 1814'18" to a point on the GRANTOR: ROLF MOUNTNN RESORTS. L.C. Southwesterly right of way line of an access rood and the beginning of a 19.00 foot GRANTEE: QUEST. GAS COMPANY I g e:L RECORRED: DECEMBER A 1998 radius reverse curve to the right; thence Northeasterly along the aforesaid right of way ENTRY NO.: 526248 BOOK 1215, PAGE 559 I '"'L and along the arc of said curve 36.92 feet through a central angle of 11119'18", thence continuing along said right of way South 50'00'00" East 146.72 feet; thence leaving said right of way South 36'54'49" West 83.08 feet to the Northerly line of said Groutage EXCEPTION: 1613.0LL Parcel; thence along said Northerly line West 187.61 feet to the point of beginning. E"'"'"1- WOLF MOUNT. RESORTS, L.C. NON PROPERTIES SLYERADO 1.00., LC RT"NTE'0. DECEMBER 21. X05 ENTRY NO.- 702.1 0 EITIP,1144:E184,439, 140 141 C..) EXCEPTION: 28 BOOK 1759, PACE 1257 WOLF MOUNTNN RESORTS L.C. _ Molted 61491.716EBER BASIN WATER GRANTEE: ASC UTAH. WC. 6 ME CARICNS RESORT \RUNGE ASSOCIMMN, Plc. CONSERVANCY OISTIOCI Y GANT MCFARLANE, JR SRANT OF'ENIIMENT RECORDER: MAY 24, 2001 FRANKLIN D. RICHARDS. JR.. DAVID K. RICHARDS JAMES CANNON GRANTER: WOLF MOUNT. RESORTS. LC ENTRY NO.: 509737 RECORDED: FEBRUARY 5, 99 GRANTEE: %ASIAN GAS COMPANY BOON 1372, PAGE 1195 BOOROEN NO.: PAL0 8578 K 1120, E 10 RECORDER: DECEMBER N 998 '81 ENTRY NO.: .6242 EXCEPTION 227 BOOK 1215. PACE .0 CI ORANT OF EASEMENT O GRANTOR REO PINE COW., 0 ,..12b!A•T'"• "' GRANTEE: ASC UTAH, IN. C) ear MOUNTAIN RESORTS, C. RECORDED SEPTEMBER 9, 2000 AMERICAN SKIING COMPANY RESORT PROPERTIES 161ENT ENTRYM. „5731247„, RECORDED: APRIL 30, 1999 CRAY-Fun: 1101,- orvuNTAIN RE TS L. Mr,g,IDA PRRTERTIES SLVERADO LOX, LC P1171. PACES EXCEPTION 100. IN. 1. 141 Fa4'1%.' PAVIZ„ COLLATERAL ASSIGMENT Or EASEMENT RIGHTS 0CANYONS RESORT VILLAGE ASSOCIATION, INC. 006413ARRIER CAPITAL. INC RECORDER' MAY 24. 2001 OR MAT 1,7501475. L.C. ENTRY NO: 580695 Cil A PARCEL A-1 8034 1372, PAGE 1020 22"•0: SHEET 11) ENTRY NO.: 714.8 (SEE EXCEPTION. 231 BOG 1055. PAGE 1 GRANT Or EASEMENT 0 GRANTOR: PARR NT HOMEOMNERS ASSOCIATION, INC. „GZANTEE6: Avfm1.4Fe. g%e 4PTTE.IMEN" FrifrAZIONtITTO VSEtlE:,''T AGREEMENT EXCEPTION: 613 GRANTOR PARK.,..T MANAGEMENT CO O WOLF MOUNTAIN RESORTS L.C. EASEMENT AGREEMENT GRANTEE; PARKKES1 LA. COMPANY RESORT PROPERTIES. INC. BOOR 1324, AMERGN SKIING COMPANY GRANTER: WOLF eremite L.C. Alm RECORDED DECEMBER 20, 1999 TEE: 14010413A PROPERTIES SILVER NcRTZTT. t?''NAl" ENTRY NO.: 555579 RECORDED: DECEMBER 21, 20115 BOOK SST:PACE 5. ElCEPTION 52 Az 250 ElOOK 1300. PAGE 1067 ENTRY NO: 762351 EASEMENT AGREEMENT BOOK 17S9, PACE 1257 0GRANT MACFARLANE. RICHARD NENE EXCEPIOAL L8LOX,., .4OL k 141 `Flr'°01"10461'N 921`"` ENTRY NO.: 4.2144 • 0 BOOK MU. PAGE 345 4%*=.71'"ANZrZI*Z'"` RECORDED OECEMBER 0. 19. QUIT CLAN REED ENTRY NO.: 555580 CRANTOR: SILWRARO SUMMIT INVESTMENT. L.0 EXCEPTION: 238 BOG 1300, PACE 1074 FLREANTE MOR4L0:5.PROPERTIES SILVER.° LOOCE, LC O Lfgl* 0.111.!".Vg ENTRY NO.: 733701 •u"'0,JOSEPH w. CRMrAM II: KOK 1604. PAGE 1007 P 1805 ENTRY 20925 BOOK NAW. PAGE 669

EXCEPTION: 00 0 rNrcg..! °Z,1'9 cTRTA'11 tiRratIT, 197r EXCEPTION, 239 0 PARCEL E-2 ENTRY 24510 GRANT OF EASEMENT BOOK BOBO. PAGE 0111 2006 GRANTER: JOSEPH W. GROUAGE. III (SEE SHEET 6) NWSr 5, GRANTEE: CIDESTAR GOMPAN EXCEPTION: 41 E XCEPT-I . RECORDED: DECEMBER 29 1910 UDNi ENTRY O.: .520 0&tiroF7 5,70.15511. *4411. CANNON 9 GRANT M. MACFARLANE, JR. BOOK 1215. PACE 553 LESTER F. HEWETT JR. 12 .: ,721r":2.14•Pia IlthlINFT RECREATION. INC. 'RECIZO: AUGUST 1977 JrJARY 22, 10913 ENTRY NO.: 139351 BOX 1,197. peer 730 mat .1:PNCE 530 LEGEND

79, 19, 140• 141 • 5/8" mbar w/cop, ALLIANCE ENGRAS 154491 EXCEPTION: Set FIRST AMENDMENT 10 EASEMENT AGREEMENT unless otherwise noted OWNER: WOLF MOUNTAIN RESORLIS,. L.L. 0 Found relmr w/cap unless otherwise noted !"' P`"ya. pltf% Set nail w/washer, AE 154491 Keynote for Exception ASSIGRNE4r 0 LAO SUMMI,RESORT LPLROPERabla... ARMOBE: ME GNYOYS R SORT VI ACE IhC RECORDED: JANUARY 31. 2000 ENTRY NO.: 550230 BOOK 1305. PAGE 280

40' 0 40' 80' 4FeliVle. TI5.W3E. 5891.1 E.EP1TON: 159 REOPROCAL EMERGENCY ACCESS EASEMENT AGREEMENT WOLF MOUNTAIN RESORTS L C L.C. """' (455) 649-9487 STAFF: ALTA/ACSM LAND TITLE SURVEY ENTRY NO.: 762350 SHEET KOK 1759, PA. 1235 7 JOHN DEMKOWICZ CURVE TABLE .A./,'142L'L'. MARSHALL KING TALISKER CANYONS LANDS LLC 7 RC A2 CURVE RADIUS LENGTH DELTA MARTY MORRISON ( E S ET 1 BLAKE MYERS PARCEL A-4 C1 19.00 36.92 11110'05" - - HARRISON HOLLEY OF C2 310.00 98.68 1614.18" 10-7-12 C3 140.00 123.95 50'43.35" CONSULTING ENGINEERS LAND PLANNERS SURVEYORS JOB NO.: 40

..., 00R 97,827 P.U. sox 2562 "v. WK 1750 R.I.E.-...., DATE: 3/17/14 FILE: X:\CanyonsLDP\ dwg\ ere\ srvy2012\ 100712\parcel_a4.dwg EXHIBIT 1-5 IftIdel.' 9.1%.. I MAI DESCRIPTIONS

PARCEL M BEGINNING at a point which Is North 572.40 feet and West 1269 feet from the Glo Brass Cap Monument at the SOUtht.t corner of Section 36, =POO. 230 Township 1 South, Range 3 East, Solt Lake Bose and Meridian, frown which Glo Monument the Summit County Brass Cap Monument to the Northeast South 10'00' East 355 feet; thence Southwesterly 640 feet ri:TT %%VW GROUTAGE. 111 Corner of Section 36 bears due North (basis of bearing); thence East 519 feet; thence WANTEE: OUESTAR CAS COMPANY along the arc of a 636.62 foot curve to the right, through a central angle of 57'26'00" (chord bears South 18•49' West 613.39 feet); thence North RECORDED OECEMBER A, 1998 (prior deed = 572.4 feet) to the point of beginning. ENTRY 529248 48'30" West 511.34 feet, (prior deed = 510 feet) thence North 591.45 feet. BOP( 1.215. PAGE 553 TOGETHER with a right of way for ingress and egress. 50 feet in width, the centerline of which is located along the East line of the subject property. PARCEL E-2 as disclosed in that certain Warranty Deed dated April 28, 1971 and recorded Moy 26, 1971 as Entry No. 113232 in Book M-31 at page 324 of Official Records. NTT (SEE SHEET 6) AGEMENT CO, INC LESS AND EXCEPTING THEREFROM the portion that Iles within the boundary of Westgate at The Canyons Final Subdivision First Amendment; according to \ 5. 2006 LOAMY Summit County Recorder. COfrE li TIMMY 22. 1990 the Official Plat thereof, on file and of record In the Office of the BOW 551. PAGE 530 Exception Parcel 7 (Westgate Deck, Phase 11);

EAST 5519.00'19.00' Beginning at o point which Iles North 6030'24" East 1.54 from a found nail and washer. LS #173736, said nail and washer being 1812.00 feet North \ 89.59'43" West along the South line of Section 36, and 599.08 feet North and from the Southeast corner of Section 36, Township 1 South, Range 3 East, Solt Lake Bose and Meridian and running thence West a distance of 12.78 feet thence North 29'29'38" Weet a distance of 1.90 feet thence UMMI, 8, 139. 140• 141 1TEPTICN: 159 GR ANT Of EASEMENT 4 North 60'30'24. Eost a distance of 59.57 feet; thence South 29'29'36" East a distance of 8.19 feet; thence South 6010'24" West a distance 48.45 GRANTOR: WCI, MOUNTAN RESMA, L.0 GRAINTOR `ZIA- MOUTTNN IINOVVIT feet to the point of beginning, GRANTEE: OKSTAR GAS COMPANY GRANTEE: NORMA PROPERTIES SLVERACO LODGE, LC P 77 GRANT Of EASEMENT P = RECORDED DECEMBER 29. 1999 A C: ENTRY NO, 52248 "'" GRANTOR: WOLF MOUNT. RESORT. . TY\ ROOK 1215, PAGE 559 Boor 1,59. PAGE 1235 GRANTEE: ODESTAR WS COMPANY

BOON 1215. PAGE 540 ,:ii

P : PO. 139. 140• 141 WOLF MOLNINN7SITRTS. .. PARCEL E-1 I eepszu AMERICAN WINO COMPANY RESORT PROPERRES (SEE SHEET 6) OMMENCING at a point on the North line of Section 1, Township 2 South, Range 3 East. Salt Lake Base and Meridian. which le West 1,269 from the EXCEPT.: 79. 139. 140• IC RECORDED: APRIL 30, 1999 C ENTRY NO:. 537599 Northeast Corner of said Section 1; and running thence West along tion line 208.97 feet; thence South 524.26 feet. more or less, to o point on EASEMNTE AGREEMENT \ :.' 11. OWNER: WOLF MOUNTAIN RESOR TS. L.0. / •.. EIOOK 1 25, PACE 245 the center line of a 50 foot'right of way eosement; thence East along the center Ilne 162.26 feet, thence Northeasterly along sold center line and along EXCEPTION:. to the Aft 471.11 feet; thence North 48'30' West 511.34 feet, more or 193. to a point which is West 1269 feet rrogoEV" rEgErla 77473E' / NONEXCLUSW ACCESS EASEMENT the arc of a 636.62 foot radius curve ENTRY NO.: 526558 GRANTOR: WOE MOUNTAIN RESORTS. LC. ft ASCU UTAN. INC. from the East Section Tine of said Section 1; thence North 18.93 feet, more or less, to the point of commencement. BOOK 1217. PAGE 152 IIIIIIIII>i :\o GRANTEE: E£RALD M. FRIEDMAN • SUGARS!. ASSOOATES, L.L.C. / 'N / RECORDED. OCTOBER 25. 2004 the c atruclion, alteration, malnlenance and pair of , I / 'T•''121%,' P'AVET UZT 3Vg‘r:UnthAgeZtjltdi4ValZeteLlEttrittr P*Ow7t7terePh7.7.1 nfgurr:1°:::!4'',re.or,„1.1,725 feet on either said of the following described center

1110' Beginning at a point on the South line of a county road which is 1253 feet North and 750 feet west from the Northeast corner of Section 1, Township 2 South, Range 3 East, Salt Lake Rase and Meridion; and running thence South 680.6 feet; thence South 10'00' 35 feet; thence 1,112.96 feet along \\N the arc of a 636.62 foot radius curve to the right; thence West 881 as conveyed in that certain Warranty Deed recorded August 2, 19.77 as Entry No. 139351 In Book M-97 at page 730 of Official Records. N.` ml EXCEPTION: 52• 250 EXUMA. 79. 139, 140 Oa 141 ENMPTION: 76 0RICAIT-OF-WAY EASEIAENT 0FINSWAIEZMENT TUANSE4111.1•4017 EEMENT NZToZ =OPT. 214122.' ZANE) RESORT PROPERTIES INC. RMLLE BASIN SERI 31, 1000 MNK6, 170.ER of ENTRY N0'.: 2W44 ENTRY NO, 519953 BOOK 362, PAGE 345 rya MIL BOOK 1190, PA.GE z e-7-\ EXCEPTICN: 41 cp EXCEPTION: so. ix filo el." \ \ FIRST MENOMENT TO EASEMENT AGREEMENT \ \ '.=.1 ='4RA 7 711011iITETT. °401:VDS, . WANER: ROLE MOUNTAIN RESORTS. L.C. E. D. JAWS CANNON k GRANT II. MAC AMERICAN SKI. COMPANY RESORT PROPERTIES, INC. CRANTEE: LESTER E. HEWETT. A. RECORDER: DECEMBER 20. 1099 ITAVAMIVIOrn: 51`"•4:*" RECORDED AUGUST 2. 1977 ENTRY NO.: 5555A GRANTEE, SPENCER OSBORN A AYANELLE R. OSBORN ENTRY NO.: .351 BOOK 13CO, PACE 7 RECORDER: APAL 800i( M117. PACE 730 WIRY NO., 113232 BOOK M-31. PAGE 324 0 EXCEPTION: 80 \\\ ''N4.ZE ialT rE'AltrIll• "" ;\ glro°424.., co, CD ASSIGNOR: THE CANYONS RESORT PROPERTIES, INC 2ERANTEE:r„ Vial;ZOUNINVORTS, L.C. ASSCAkk INE CANYONS RESORT \AL,. ASSOCIATION. INC ‘ . RED PINE CHALETS PHASE 1 RECORDER: DECEMBER 20, 1999 ENTRY NO.: 424515 ENTRY NO.: 555590 ‘P ENTRY ND.: 194151 1300, PACE 1074 \s BOOK NA, PAGE BIS EXCEPTION: BO. 139 140 41 EXCEPT.: 97, 139. 140• 141 0EASEMENT AGREEMENT C)WANT OE EASEMENT EXCEPTION: sa, 139, iro a 141 AMERICZ TKIC'EXPZNIESORT PROPERTIES ''•ORANTETc76: 0SEMER IMPROVEMENT PST., ASSONMENT RE EASEMENT \ RECORDED: APRIL 30, 1999 ASSPR: THE CANYONS RESENT PROPERTIES, NC. Pr • BO. IA. 140• 141 ENTRY NO.: 537598 MTRY NO,' 572430 ASSURE, THE CANYONS RESCRT VLLAGE ASSOCIAT FT ME:=ENT TN:SE, 4ENT AGREEMENT I \ \ \ BOOK 1253, PAGE 245 BOOK 1332. PAGE 1351 RECORDED: DECEMBER 20. 1999 ENTRY NO.: 555590 SKIING COMPANY RESCZ WoPERTIES. INC. 1 BON 100, PAGE 1074 0: OECEMBER 20. 999 i\ 01 ECPTION: el. 13(1, 140. It 0EXCEPTION: . NO.: 555579 i EASEMENT AGREEMENT NONENCLUSTVE ACCESS EASEMENT eaP 300. PACE .7 / AMERICAN SKIING COMPANY RESORT PROPERTIES. INC. GRANTOR WOLF MOUNT. RESORT. ,C. k A.00 UTAH. INC. THE CANYONS RESORT PROPERTIES. INC GRANTEE: GERALD M. FRIEDMAN • SOCARBOVA ASSOOKIES. RECORDER: APRIL 30, 1999 RECORDED: OCTOBER 25. 2004 ENITO NO.1 537597 ENTRY NO.: 7.79 ,, (---•\\\ \ ,\ BOW 1253. PACE two BOCK 1,955., PAGE 1 cp LOxiNgIALATALIV• EASEMEN4, 0VZ"Zo 21 \ ,, AS.WOR: WAND SUMMIT.REXT= PERRIN. HAROLD R %EIGHT. RUTH 13 Vh1.1 7A-3 , DISTRICT: WEER BASIN WATER CONSERVANCY (AMC, , RE 'ED: 1'..j.NXRY4 29, 2000 IACOROEX 0CTAR 21. 1988 ET 11) , , , ENTRY NO.: 558230 11 BOON 1305, PA. 708 BON 498, PAGE 17 „,... MA rTAR,. CE I I 'PARCEL A-3A I , i 44SEE314E-E-54 / 1 I N 89'59'45" W 1268.97' N 89'59'45" W 1190. - --, li rcITON/38. TIS.RFOE. SLOW /

CURVE TABLE CURVE RADIUS LENGTH DELTA Cl 25.00 16.08 36'51'46"

J J

pattam LEGEND • ALUANCE EN55/LS 154491 PARCEL I t5lte:LO"thriZawri:fsed O Found rebar w/cop unless otherwise noted

O Set nail w/washer, AE 154491 C) Found nail w/washer unless otherwise noted 0 Keynote for Exception 60' 0 60' 120'

EXCEPTION: Al EASEMENT AGREEMENT GRANTOR THE CANYONS RESORT VILLAGE ASSOCIATION,MORN°,,,, INC. ..r PARE..., ,Lo GRANTEE MCVANON PROPERTIES ESCALA LEIWRS LC Is PROP ROES RECORDER: JULY 7, 2009

ir (429)648-04., SURVEY ------STAFF: ALTA/ACSM LAND TITLE SHEET JOHN DEMKOWICZ Vie - MARSHALL KING TALISKER CANYONS LANDS LLC MARTY MORRISON 1 3 BLAKE MYERS PARCEL M & PARCEL I HARRISON HOLLEY OF

10-7-12 CONSULTING ENGINEERS LANG PLANNERS SURVEYORS JOB NO.: 40 /14.-- .... P.O. ---..,. .1....-- DATE: 3/17/14 FILE: K:\CanyoneLDP\dwg\erv\eryy2012\ 100712\ porcel_m_l.dwg EXHIBIT 1-6 I

I •

l• Mail deed & tax notices to Grantee at 4000 Park West Dr., Park City, UT 84060. • rl SPECIAL WARRANTY DEED

3 1 For good and valuable consideration, the receipt and sufficiency of which are hereby !: acknowledged, and subject to all matters of record, MARILYN H. ROBERTS and J. E. ROBERTS,as trustees of the ROBERTS RETIREMENT TRUST, Grantors, hereby CONVEY and WARRANT against all claiming by, through or under them to

WOLF MOUNTAIN RESORTS, a Utab limited liability company, Grantee,

the land located in Summit County, State of Utah, which is described in Exhibit "A" which is attached hereto and specifically made a part hereof by this reference.

WITNESS, the hand of said grantor, this (per day of February, 1995.

ROBERTS RETIREMENT TRUST 1

B -7/ MariI H. Roberts, TrListee

By . E. Roberts, Trustee 0042 4 18 BK00866 PG00330-00834 STATE OF UTAH ss. ALAN SPRIGGS, sunrur COUNTY RECORDER 1995 FEB 09 16:07 P11 FEE 06.00 BY D116 COUNTY OF SALT LAKE REQUEST: OLD REPUBLIC TITLE

1' On the Colll day of February, 1995, personally appeared before me Marilyn H. Roberts and J. E. Roberts, the signers of the within instrument, who duly acknowledged to me that they are the only trustees of the Roberts Retirement Trust, that they the are authorized to sign this instrument on behalf of said Trust, and that said Trust has duly executed the same.

WITNESS my hand and official seal

NOTARY PUBLIC STATE OF UTAH] Consenssco Ewes Match IS. 1m BRET J. CARTER n5so.th 1 033 Us NOT g in Salt Lake County SO Lake Cir. Val id to?

• EXHIBIT 1-7 a_ 60 "1 11117---7'

HV2Ti "/q "

RE: S 95010011 D 1 Retirement Trust 2nd Amended Legal Descriptions

Parcel E-1: Commencing at a point North 503 feet and West 448 feet from the Southeast corner of Section 36. Township 1 South. Range 3 East, Salt Lake Base and Meridian, and running thence South 100 feet: thence North 89 deg 58 min West 59.4 feet; thence North 43 deg 40 min West 16.1 feet; thence North 2 deg West 9.34 feet: thence West 48.7 feet: thence North 43 deg 40 min West 16.1 feet: thence North 2 deg West 9.34 feet: thence West 48.7 feet: thence North 43 deg 40 min West 16.1 feet: thence North 2 deg West 9.34 feet: thence West 48.7 feet; thence North 43 deg 40 min West 16.1 feet: thence North 97.4 feet: thence North 46 deg East 16.1 feet: thence North 89 deg 15 min 45 sec East 37.4 feet: thence thence South 43 deg 45 min East 16.1 feet: thence South 2 deg 7 min 9 sec East 9.34 feet; thence South 89 deg 32 min 14 sec East 48.05 feet: thence South 43 deg 45 min East 16.1 feet; thence South 2 deg 7 min 9 sec East 9.34 feet: thence South 89 deg 58 min 50 sec East 48.7 feet: thence South 43 deg 40 min East 16.1 feet: thence South 2 deg 7 min 9 sec East 9.34 feet: thence North 89 deg 37 min 45 sec East 48.7 feet: thence South 45 deg East more or less. 30 feet, more or less, to the point of commencement.

Parcel E-2: The following described tract of land in Section 36. Township 1 South. Range 3 East. Salt Lake Base and Meridian: 40424511E3 800866 PG00831 Commencing at a point on the North right-of-way line of Chalet Drive which point is North 403 feet and West 507.4 feet from the Southeast corner of the aforesaid section 36 and running thence 1 North 43 deg 40 min West 16.1 feet: thence North 2 deg West 9.34 feet; thence West 48.7 feet: thence North 43 deg 40 min West 16.1 feet: thence North 2 deg West 9.34 feet: thence West 48.7 feet; thence North 43 deg 40 min West 16.1 feet; thence North 2 deg West 9.34 feet; thence West 48.7 feet; thence North 43 deg 40 min West 16.1 feet;thence North 97.4 feet: thence North 46 deg East 16.1 feet; thence North 89 deg 15 min 45 sec East 37.4 feet: thence thence South 43 deg 45 min East 16.1 feet; thence South 2 deg 7 min 9 sec East 9.34 feet: thence South 89 deg 32 min 14 sec East 48.05 feet; thence South 43 deg 45 min East 16.1 feet:

fi*b * OLD REPUBLIC .1 • rm.Company oi Utah **

a•I

- EXHIBIT 1-8 diaNiiiiitatiaBbkihrillaarariorsamosir . •. •

S 95010011 D Retirement Trust 2nd Amended Page: 2

thence South 2 deg 7 min 9 sec East 9.34 feet; thence South 89 deg 58 min 50 sec East 48.7 feet: thence South 43 deg 40 min East 16.1 feet; thence South 2 deg 7 min 9 sec East 9.34 feet; thence North 89 deg 37 min 45 sec East 48.7 feet: thence South 45 deg East more or less, 30 feet, more or less, to a point which is North 503 feet and West 448 feet from the Southeast corner of the aforesaid Section 36; thence North 62 feet; thence East 41 feet; thence 1 North 70 feet; thence East 102.51 feet: thence North 30 feet, more or less, to a point which is on the Southeast corner of the Red Pine Townhouses; thence West 61.51 feet along the South boundary of said Townhouses to a point on a 45.00 foot radius curve to the right, the radius point of which bears North; thence Northwesterly along said boundary and along the arc of said curve 52.17 feet; thence West along said boundary 108.76 feet; thence North along said boundary 55.00 feet; thence West along said boundary 204 feet to a point on the East right-of-way line of Red Pine Road and which is also on the aforesaid South boundary line; thence South along said East right-of-way line 189.6 feet, more or less; thence South 10 deg 00 min East along said East right-of-way line 175.72 feet, more or less, to a point which is North 403 feet, more or less, from the South section line of said section 36 and which is on a line running North 89 deg 58 min West from the point of commencement; thence South 89 deg 58 min East 222 feet. more or less, to the point of commencement.

Parcel I: Commencing at a point on the North section line of Section 1, Township 2 South, Range 3 East, Salt Lake Base and Meridian, which is West 1.269 feet from the Northeast corner of said Section 1 and running thence West along the section line 208.97 feet; thence South 524.26 feet, more or less, to a point on the center line of a 50 foot right of way easement; thence East along said center line 162.26 feet; thence Northeasterly along said center line and along the arc of a 636.62 foot radius curve to the left 471.11 feet; thence North 48 deg 30 min West 511.34 feet, more or less, to a point which is West 1269 feet from the East section line of said section 1; thence North 18.93 feet; more or less, to the point of beginning. 044245 113 800866 PG00832 t. Together with and subject to a perpetual right of way and easement for Roadway purposes and for the construction, alteration, maintenance and repair of underground utilities including water, electrial power, telephone and natural gas. 50 feet in width, 25 feet on either side of the following described center line:

Beginning at a point on the South line of a county road which is 111'4*** 1* * OLD REPUBLIC . * TItl• Company of Utah

• EXHIBIT 1-9 S 95010011 D Retirement Trust 2nd Amended Page: 3

1253 feet North and 750 feet West from the Northeast S corner of ection 1, Township 2 South, Range 3 East, Salt Lake Base Meridian. and and running thence South 680.6 feet; thence South 10 deg 00 min East 355 feet; thence 1.112.96 feet along 636.62 the arc of a foot radius curve to the right: thence West 881 feet.

Parcel L-1: Beginning South 1208.5 feet and North 89 deg feet 50 min West 1862 from the Northeast corner of Section 1. Township 1 South. Range 3 East, Salt Lake Base and Meridian. thence West the true 400 feet to point of commencement; and running thence East 400 feet: thence North 680.0 feet; thence West 240.6 feet; deg 11 thence South 13 min 33 sec West 698.433 feet, more or less, straight to the point of commencement.

T ogether with and subject to a perpetual right of way and easement for roadway purposes and for the construction, alteration, maintenance and repair of underground including utilities water, electrical power, telephone and natural gas , 50 feet in width, 25 feet on either side of the following center line. described

Beginning at a point which is North 1253 feet from and West 750 feet the Northeast corner of the aforesaid Section 1 and running thence South 680.6 feet; thence South 10 deg East 1112.96 355 feet: thence feet along the arc of a 636.62 foot radius curve to the right; thence West 881 feet.

00424518 800,366 PoOO833

OLD REPUBLIC THI• Company of Utah 1111* **

^-6 • EXHIBIT 1-10

•MI

"B" E xhibit xhibit

Two.

Parcel Parcel of of

all all

and and One One

Parcel Parcel

of of

part part

over over

rantors rantors

G conveyed conveyed

previously previously

right-of-way right-of-way

and and

easement easement to to ubject ubject S

8K00866 8K00866 P000834 00424513 00424513

commencement.

of of

point point

the the to to

less, less,

or or

ore ore m

feet,

400 400

East East

thence thence

commencement; commencement;

of of

point point the the

of of

West West ue ue

which which

point point a a

to to

less, less,

or or

more more

feet, feet,

35 35

line line

section section

uarter uarter q

said

along along

Northerly Northerly

thence thence

line; line;

section section

quarter quarter

the the

to to

less, less,

r r o

feet, feet,

400 400

West West

thence thence

Barnard; Barnard;

H. H.

John John

by by

owned owned

arcel arcel p

the

of of

line line

North North

the the

to to

less, less,

or or

more more

feet, feet,

35 35

South South

hence hence

running

and and

Section, Section,

said said

of of

corner corner

Northeast Northeast

the the

from from

eet eet f

2753.00

West West

is is

point point

which which SLBM, SLBM,

East, East,

3 3 Range Range

South, South,

2 2

ship ship

Town-

1, 1,

Section Section

of of

line line

section section

North North

the the

on on

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point point a a

at at

Commencing Commencing Three: Three: arcel arcel P

commencement.

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point point

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to to less, less,

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more more feet, feet,

5.00 5.00 2

South

thence thence

feet; feet;

293.00 293.00 East East

thence thence

feet, feet,

25.00 25.00

North North

hence hence

feet,

293.00 293.00

West West

thence thence

running running

and and

Section, Section,

said said

of of ine ine

section

East East

the the

from from feet feet

2750 2750

West West

and and

SLBM, SLBM,

East, East,

3 3

ange ange

South, 2 2

Township Township

1, 1,

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of of

line line

section section

North North

the the

rom rom f

less,

or or

more more feet, feet,

524.26 524.26

South South

is is

point point

which which

way way of of

right right

oot oot

a a

of of

line line center center the the

on on

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at at Commencing Commencing Two: Two: arcel arcel P

commencement.

of of

point point the the

to to

less, less, or or

more more eet, eet, f

3.00

East East

thence thence

line; line;

section section

North North

aforesaid aforesaid

the the on on

point point a a

o o t

less, or or

more more feet, feet,

524.26 524.26

North North

thence thence feet; feet;

573.52 573.52

West West

hence hence t

easement;

way way of of

right right

foot foot

50 50 a a of of

line line

center center

the the on on

point point

less, less, or or

more more feet, feet,

44.76 44.76

South South

thence thence

Plat; Plat;

aforesaid aforesaid the the f f o

Lot Lot

of of

corner corner

Southeast Southeast the the

to to feet feet 147.29 147.29

East East

thence thence eet; eet;

25.00

North North

thence thence

feet; feet;

300.00 300.00 East East thence thence . et; et;

27gRe

outh outh S

thence feet; feet;

126.23 126.23 East East

thence thence lot; lot; said said of of

corner corner

he he t Southwest Southwest

feet, feet,

479.50 479.50

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thence thence

running running and and section; section;

said said

of of orner orner

Northeast the the

from from feet feet

2460.54 2460.54 West West located located

is is

and and

LBM, LBM, S

East, 3 3

Range Range

South, South, 2 2

Township Township 1, 1, Section Section of of

line line

ection ection S

North

the the on on is is

point point

which which Utah, Utah, County, County,

of of Summit Summit R

ecorder ecorder

the

of of

office office

in in

the the

recorded recorded as as 2, 2, No. No. Plat Plat

West West

City City P ark ark

13, of of Lot Lot corner corner

Northwest the the at at Commencing Commencing One: One: arcel arcel P

follows:

as as

described described

p articularly articularly

more is is

an an

exhibit exhibit

as as is is attached attached

this this

which which to to deed deed the the in in referenced referenced land land he he T

•

Description L egal egal

•

"B"

Exhibit Exhibit • •

• • •• •• • • • • • .• .• 41•A 41•A 1....• 1....• •11...... 11.111.1.1.10111111100

EXHIBIT 1-11 ?Pis:PI( w Cr,r fir. 4000 Obb ??T-V. CA Ty tier

Paos'clo WARRANTY DEED Lake County, Utah, DANIEL S. KIMBALL, Grantor, of Salt a cor- warrants to WOLF MOUNTAIN RESORTS L.C., conveys and Utah, for of Parkwest Drive, Park City, Summit County, poration, other good and the sum of Ten and No/100 Dollars ($10.00) and described tract of land in valuable consideration, the following Summit County, Utah: 572.40 Beginning at a point which is North Glo Brass feet and West 1269.00 feet from the of Sec- Cap monument at the Southeast corner Salt tion 36, Township 1 South, Range 3 East, Glo Monu- Lake Base and Meridian, from which at ment the Summit County Brass Cap Monument 36 bears the Northeast corner of said Section East due North (basis of bearing); thence 355.00 519.00 feet; thence South 10000' East along feet; thence Southwesterly 640.00 feet to the the arc of a 636.62 foot radius curve right through a central angle of 57036'00" feet); (chord bears South 18°48' West 613.39 (prior thence North 48°30" West 511.34 feet feet deed = 510 feet); thence North 591.45 of (prior deed a 572.4 feet) to the point beginning.

Together with and subject to a right-of-way width, the for ingress and egress 50 feet in the East centerline of which is located along rl in line of the subject property as described 28, • :4 that certain Warranty Deed dated April No. 1971, recorded May 26, 1971, as Entry the Deed 113232, in Book M31, at Page 324 of Records of the County Recorder of Summit County, Utah. (j? day of WITNESS the hand of said Grantor this January, 1995.

0/ Zd DANIEL S. KIMBALL

00423256 8K00863 P000150-00151 ALAN SPRIGGS, SUKMIT COUNTY RECORDER 1995 JAN 19 13:19 PM FEE 112.00 BY IMO REOUEST1 ASSOCIATED TITLE c.

EXHIBIT 1-12 •

OF UTAH STATE oa. County of Salt Lake 1995, personally appeared n the day of January, instrument, O the signer of the within ma Daniel S. imball, same. before me that he executed the who acknowledged before

F i.6.)* I. 1.1:11.111. SUM. 4,t.*** V«)Can 2 mt.% Fists No Sax t.s*• Gat. CM*, Cooladzeto* Residing at: Augal STATe OTP UTAH mm scion expires:

PaCa31 00423256 6K00863

• t • • v: • , . . •' . p. • •••

•• EXHIBIT 1-13 Coalition Title Agency, lnc. 2200 Park Avenue, Suite C-100 Park City, UT 84060 Phone: (435) 649-4008 Fax: (435) 649-4026

DATE: December 07,2017

TO: Parsons Behle & Latimer Brian Rosander [email protected]; [email protected]

FILE NO.: 26898

BUYER: Townhomes at the Canyons, LLC

SELLER: TCFC Propco LLC

Enclosed please find the preliminary title commitment for the above referenced order. Thank you for your order; we appreciate your business very much.

Should you have any questions or concerns, please do not hesitate to call us. We look fonrvard to working with you on this transaction.

For title inquiries regarding this report, call Roger Cater [email protected] at (435) 6494008

For escrow inquiries, call Craig R. Rodman [email protected]

2200 ParkAvenue, Suite C-l00 Park City, UT 84060 (435) 6494008 (435) 649-4026 FAX (801) 531-e987 SLC

EXHIBIT 1-14 ALTA Commitment (6/1 7/06)

ALTA Commitment Form

COMMITMENT FOR TITLE INSURANCE lssued by

STEWART TITLE GUARANTY COMPANY

STEWART TITLE GUARANTY COMPANY a Texas Corporation ("Company"), for a valuable consideration, commits to issue its policy or policies of title insurance, as identified in Schedule A, in favor of the Proposed lnsured named in Schedule A, as owner or mortgagee of the estate or interest in the land described or referred to in Schedule A, upon payment of the premiums and charges and compliance with the Requirements; all subject to the provisions of Schedules A and B and to the Conditions of this Commitment.

This Commitment shall be effective only when the identity of the Proposed lnsured and the amount of the policy or policies committed for have been inserted in Schedule A by the Company.

All liability and obligation under this Commitment shall cease and terminate six months after the Effective Date or when the policy or policies committed for shall issue, whichever first occurs, provided that the failure to issue the policy or policies is not the fault of the Company.

The Company will provide a sample of the policy form upon request.

This Commitment shall not be valid or binding until countersigned by a validating officer or authorized signatory.

lN WITNESS WHEREOF, Stewart Title Guaranty Company has caused its corporate name and seal to be affixed by its duly authorized officers on the date shown in Schedule A.

ewart title guaranty company ffi7ffiA-" Matt Morris Coalition Title Agency, lnc. Presiden{ and CI80 2200 ParkAvenue, Suite C-100 Park City, UT 84060 (435) 649-4008

Secretary

Copyright 2006-2009 American Land Title Association. All rights reserved. Th6 use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use 11.1!Rlc*I I\{I) t tl t}, All other uses are prohibited. Reprinted under license from the American Land Title Association. File No. 26898 - 004-UN ALTA Commitment (6117106) EXHIBIT 1-15 CONDITIONS

1 The term mortgage, when used herein, shall include deed of trust, trust deed, or other security instrument.

lf the proposed lnsured has or acquired actual knowledge of any defect, lien, encumbrance, adverse claim or other matter affecting the estate or interest or mortgage thereon covered by this Commitment other than those shown in Schedule B hereof, and shall fail to disclose such knowledge to the Company in writing, the Company shall be relieved from liability for any loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced by failure to so disclose such knowledge. lf the proposed lnsured shall disclose such knowledge to the Company, or if the Company otherwise acquires actual knowledge of any such defect, lien, encumbrance, adverse claim or other matter, the Company at its option may amend Schedule B of this Commitment accordingly, but such amendment shall not relieve the Company from liability previously incurred pursuant to paragraph 3 of these Conditions.

3. Liability of the Company under this Commitment shall be only to the named proposed lnsured and sucft parties included under the definition of lnsured in the form of policy or policies committed for and only for actual loss incurred in reliance hereon in undertaking in good faith (a) to comply with the requirements hereof, or (b) to eliminate exceptions shown in Schedule B, or (c) to acquire or create the estate or interest or mortgage thereon covered by this Commitment. ln no event shall such liability exceed the amount stated in Schedule A for the policy or policies committed for and such liability is subject to the insuring provisions and Conditions and the Exclusions from Coverage of the form of policy or policies committed for in favor of the proposed lnsured which are hereby incorporated by reference and are made a part of this Commitment except as expressly modified herein.

4. This Commitment is a contract to issue one or more title insurance policies and is not an abstract of title or a report of the condition of title. Any action or actions or rights of action that the proposed lnsured may have or may bring against the Company arising out of the status of the title to the estate or interest or the status of the mortgage thereon covered by this Commitment must be based on and are subject to the provisions of this Commitment.

5. The policy fo be issued contains an arbitration clause. All arbitrable matters when the Amount of lnsurance is $2,000,000 or /ess shall be arbitrated at the option of either the Company or the lnsured as the exclusive remedy of the parlies. You may review a copy of the arbitration rules at< http://v'rww.alta.orgt>.

All notices required to be given the Company and any statement in writing required to be furnished the Company shall be addressed to it at P.O. Box 2029, Houston, Texas 77252.

File No. 26898 2nd Amendment

1. Effective Date: December 04, 2017 at B:00A.M. 2. Policy or Policies To Be lssued: Amount of lnsurance (a)ALTA Owner's 2006 (Extended) Amount $13,250,000.00 Premium $22,208.00

Proposed lnsured: Townhomes at the Canyons, LLC (b)ALTA Loan

3. The estate or interest in the land described or referred to in this Commitment and covered herein is: Fee Simple as to Parcel 1 and an Easement as to Parcel 2 4. Title to said estate or interest in said land is at the effective date hereof vested in: TCFC PROPCO LLC, A DELAWARE LIMITED LIABILITY COMPANY

5. The land referred to in this Commitment is described as follows: SEE EXHIBIT ''A'' ATTACHED HERETO For information purposes only, the property address is purported to be:

Copyright 2006-2009 American Land Title Association. All rights reserved. Ir I&'s I The use of this Form is restricted to ALTA licensees and ALTA members in g;od standing as of the date of use. il{s All otherusesareprohibited. ReprintedunderlicensefromtheAmericanLandTitleAssociatio" :l)lt,lllll File No. 26898 Page 1 of 2 STEWART TITLE s,,, " UT STG ALTA Commitment Sch A GUARANTY COMPANY ffi EXHIBIT 1-17 EXHIBITA LEGAL DESCRIPTION

PARCEL'1

LEGAL DESCRIPTION PROPOSED RC16 B April 3, 2017

A parcel of land located in the southeast quarter of Section 36, Township 1 South, Range 3 East, and the northeast quarterof Section 1, Township 2 South, Range 3 East, Salt Lake Base and Meridian, said parcel being more particularly described as follows:

Beginning at a point that is North 89'59'45" West 744.11feet coincident with the section line and North 134.95 feet from a GLO brass cap at the southeast corner of Section 36, Township 1 South, Range 3 East, Salt Lake Base and Meridian, said pointalso being on a curve to the right having a radius of 571.62 feet, of which the radius point bears South 87" 43'21" West; and running thence southerly along the arc of said curve 68.60 feet through a central angle of 06'52'35" to a point of compound curve to the right having a radius of 571.43 feet, of which the radius point bears North 85'24'04" West; thence southwesterly along the arc of said curve 851 .74 feet through a central angle of 85"24'04"; thence West 162.48 feet to a point on the easterly boundary of Escala Lodges Condominiums Amended & Restated, recorded January 28, 2009, as Entry No. 863831 in the Office of the Recorder, Summit County, Utah; thence coincident with the easterly boundary of said Escala Lodges North 150.77 feet; thence East 1'14.19 feet to a point on a curve to the left having a radius of 470.40 feet, of which the radius point bears North; thence along the arc of said curve 690.61 feet through a central angle of 84'07'06"; thence North 05'52'54" East 43.09 feet to a point on a non tangent curve to the left having a radius of 475.00 feet, of which the radius point bears North 16'56'50" East; thence easterly along the arc of said curve 116.46 feet through a central angle of 14'02'54"', thence South 87'06'04" East 32.54 feet to the point of beginning.

(Part of Tax Serial Nos. PP-75-1, PP-2-H and PP-2-K).

Parcel2 - Beneficial Easements

Together with those perpetual right-of-way and easement rights for roadway and utility purposes over, under, and across Red Pine Road, as further referenced and described in (i)that certain Warranty Deed, dated January 18, 1995, and recorded on January 19, 1995, as Entry No.423256, in Book863, beginning at Page 150, and (ii)thatcertain Special Warranty Deed, dated February6, 1995, and recorded on February 9, 1995, as Entry No.424518, in Book866, beginning at Page 830, each as recorded in the official records of the Summit County Recorder's Office in Summit Count, Utah.

File No.: 26898

Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company:

1. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the Effective Date but prior to the date the proposed lnsured acquires for value of record the estate or interest or mortgage thereon covered by this Commitment.

2. Taxes or assessments which are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the Public Records. Proceedings by a public agency which may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the Public Records.

3. Any facts, rights, interests, or claims which are not shown by the Public Records, but which could be ascertained by an inspection of the Land or by making inquiry of persons in possession thereof.

4. Easements, liens, or encumbrances, or claims thereof, which are not shown by the Public Records.

5. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land and not shown by the Public Records.

6. (a) Unpatented mining claims, (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water; ditch rights; (d) minerals of whatsoever kind, subsurface and surface substances, including but not limited to coal, lignite, oil, gas, uranium, clay, rock, sand and gravel and other hydrocarbons in, on, under and that may be produced from the Land, together with all rights, privileges, and immunities related thereto, whether or not the matters excepted under (a), (b), (c) or (d) are shown by the Public Records. The Company makes no representation as to the present ownership of any such interests. There may be leases, grants, exceptions or reservations of interests that are not listed.

7. Any lien or right to a lien for services, labor, or material heretofore or hereafter furnished, imposed by law and not shown by the Public Records.

Exceptions 1-5, 6(a), 6(b), 6(d) and 7 will be deleted fromALTA Extended Owners Policy to be issued

8. Taxes for the year 2017 have been paid in the amount of $39,949.29 (Part of Serial No. PP-75-L).

Taxes for the year 2017 have been paid in the amount of $15,'1 82.02 (Parl of Serial No. PP-2-H).

Taxes for the year 2017 have been paid in the amount of $13,891 (Part of Serial No. PP-2-K).

9. The following matters reflected in that certain "Preliminary Draft for Review" ALTA/ACSM Land Title Survey, ResortCore DevelopmentArea Proposed Parcel RC16-8, daled5111l17, byALLIANCE ENGINEERING, asJob No. 9-ll-16: dirt access road, a sign, water manhole, an overhead wire to a post and gravelareas.

10. The property described herein is located within the boundaries of Snyderville Basin Water Reclamation District, and is subject to any and all charges and assessments thereof. All such charges and assessments will be paid current.

11 . The property described herein is located within the boundaries of Mountain Regional Water Special Service District and is subject to the charges and assessments thereof. All such charges and assessments will be paid current.

Copyright 2006-2009 American Land Title Association. All rights reserved. af The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of tho date of use All other uses are prohibited. Reprinted under license from the American Land Title Association. File No. 26898 Page 1 of6 STEWARTTITLE lJ- UT STG ALTA Commitment Sch B ll GUARANry COMPANY tt- EXHIBIT 1-19 COMMITMENT FOR TITLE INSURANCE SCHEDULE B PART II

12. Excepting therefrom all minerals and ores situated in, upon or under the above described tract of land, together with all rights in connection with or relative to the mining, removal or sale of the same (but not including the right to enter upon the surface of the premises).

13. lntentionally Deleted

14 lntentionally Deleted

15. lntentionally Deleted

16. (AFFECTS THrS AND OTHER PROPERTY)

Development Agreement for The Canyons Specially Planned Area, recorded July 28, 1998 as Entry No. 51350C in Book 1168 at Page 82 of Official Records, but deleting any covenant, conditions or restrictions indicating a preference, limitation or discrimination based upon race, color, religion, sex, handicap, familial status or national origin to the extent such covenants, conditions or restrictions violate 42 USC 3604 (c).

An Ordinance Amending The Canyons SPA Rezone Ordinance and Development Agreement was recorded November 24,1999 as Entry No. 553910 in Book 1297 at page 403 of the Official Records.

An Amended and Restated Development Agreement for The Canyons Specially Planned Area, recorded November 24, 1999 as Entry No. 353911 in Book 1297 at page 405 of the Official Records.

An Amendment to Amended and Restated Development Agreement for The Canyons Specially Planned Area, recorded December 22,2006 as Entry No. 799953 in Book 1837 atpage 1251of Official Records.

Summit County Ordinance No. 691-A, an Ordinance Approving and Adopting the Amended and Restated Snyderville Basin Speclal Recreation District Regional Trails Agreement, Exhibit 1.2.3, of The Canyons SPA and Development Agreement as Amended recorded May 20,2010 as Entry No. 899057 in Book 2032 at page 1797 of Official Records.

Summit County Ordinance 739, an Ordinance Approving and Adopting an Amendment to The Canyons Specially PlannedArea (SPA) Pertaining to the Colony atWhite Pine Canyon recorded June 30, 2010 as Entry No. 902152 in Book 2038 at page 1131 of Official Records.

Summit County Ordinance 739-4, an Ordinance Approving and Adopting an Amendment to The Canyons Specially Planned Area (SPA) Pertaining to the Colony at White Pine Canyon recorded September 23, 2010 as Entry No. 907329 in Book 2048 at page 1838 of Official Records, and re-recorded March 29,2011 as Entry No. 919803 in Book 2075 at page 380 of Official Records.

Snyderville Basin Special Recreation district Reclassification Notice, recorded DECEMBER 30,2010, as Entry No. 9111095, in Book 2063, at Page 1742, SUMMIT County Recorder's Office.

Memorandum of Partial Assignment dated SEPTEMBER 17 ,2013 executed by ASC Utah LLC, a Delaware limited liability company (as successor-by-merger toASC Utah, lnc., d.b.a. The Canyons) ('ASCU'), and VR CPC Holdings, lnc., a Delawarecorporation ('VR CPC') recorded OCTOBER 11,2013, as Entry No.981238, in Book 2211, al Page 1034 in SUMMIT County.

Copyright 2005-2009 American Land Title Association. All rights reserved. The use of this Form is restracted to ALTA licensees and ALTA members in good standing as of the date of use All other uses are prohibited. Reprinted under license from theAmerican Land lltleAssociation. File No. 26898 Page 2 of 6 STEWART TITLE UT STG ALTA Commitment Sch B ll GUARANTY COMPANY EXHIBIT 1-20 COMMITMENT FOR TITLE INSURANCE SCHEDULE B PART II

AdministrativeAmendmenttoAmended and Restated DevelopmentAgreementforTHE CANYONS SPECIALLY PLANNED AREA, SUMMIT COUNTY UTAH, by and between VR CPC HOLDINGS, lNC., lN ITS CAPACITY AS PARTIAL ''MASTER DEVELOPER'" AND SUMMIT COUNTY A POLITICAL SUBDIVISION OF THE STATE OF UTAH, recorded FEBRUARY 5,2015, as Entry No. 1"0L2254, in Book 2278, at Page 680, SUMMIT County Recorder's Office.

Amendment to Amended and Restated Development Agreement for The Canyons Specially Planned Area, recorded March 21,2017 as Entry No. 1O65938 in Book 2402 at page 40 of Official Records.

17. lntentionally Deleted

18. lntentionally Deleted

19. lntentionally Deleted

20 (AFFECTS THIS AND OTHER PROPERTY)

A non-exclusive easement granted to American Skiing Company Resort Properties, lnc. for construction, ingress and egress and installing utility lines; subject to the terms and conditions contained therein; in the Easement Agreement recorded April 30, 1999 as Entry No. 537597 in Book 1253 atpage252 of Official Records.

21 (AFFECTS THIS AND OTHER PROPERTY)

The limitations, covenants, conditions, restrictions, exceptions, easements, terms and liens contained within that certain ManagementAgreement for The Canyons Resort Village recorded December 15, 1999 as Entry No. 555285 in Book 1300 at Page 1 of Official Records, but deleting any covenant, conditions or restrictions indicating a preference, limitation or discrimination based upon race, color, religion, sex, handicap, familial status or national origin, to the extent such covenants, conditions or restrictions violate 42 USC 360a (c).

First Amendment to the Management Agreement for The Canyons Resort Village (Sundial Lodge), recorded December '17, 1999 as Entry No. 555434 in Book 1300 at Page 668 of Official Records.

Second Amendment to the Management Agreement for The Canyons Resort Village (Spoor), recorded January 11 , 2000 as Entry No. 555961 in Book 1303 at Page 296 of Official Records.

Third Amendment to the Management Agreement for The Canyons Resort Village (Grand Summit), recorded January 31, 2000 as Entry No. 558232 in Book 1305 at Page719 of Official Records.

22. (AFFECTS TH|S AND OTHER PROPERTY)

A Memorandum and Notice of Lien and Security Interest Granted to The Canyons Resort VillageAssociation, lnc., Pursuant to The Canyons Resort Village Management Agreement was recorded March 14, 2006 as Entry No. 171 15 in Book 1776 at page 1762 of Official Records

An Amendment to Memorandum and Notice of Lien and Security lnterest Granted to The Canyons Resort Village Management Association, Inc., Pursuant to The Canyons Resort Village Management Agreement was recorded August 15, 2006 as Entry No. 786761 in Book 1809 at page 1709 of Official Records.

Second Amendment to Memorandum and Notice of Lien and Security lnterest Granted to The Canyons Resort Village Management Association, lnc., Pursuant to The Canyons Resort Village Management Agreement was

recorded March 2,2010 as Entry No. 893359 in Book 2023 at page 86 of Official Records.

Third Amendment to Memorandum and Notice of Lien and Security lnterest Granted to The Canyons Resort Village Management Association, lnc., Pursuant to The Canyons Resort Village Management Agreement was recorded August 20,2010 as Entry No. 905270 in Book 2044 at 1378 of Official Records.

Partial Release of Management Agreement and Partial Release of Memorandum and Notice of Lien and Security lnterest, recorded FEBRUARY 10,2015, as Entry No. 101.2486, in Book2278,atPage1671of official records.

23. (AFFECTS THrS AND OTHER PROPERTY)

A Notice of Reinvestment Fee Covenant, recorded May 28, 2010 as Entry No. 899508 in Book 2033 at page 1651 of Official Records.

Partial Release of Notice of Reinvestment Fee Covenant, recorded FEBRUARY 10,2015, as Entry No. L012485, in Book 2278, at Page 1673, SUMMIT County Recorder's Office.

The imposition of a transfer or conveyance fee is contained within the Notice shown above. The provisions for such a fee require it to be paid upon the conveyance of the land. Such imposition may include a conveyance resulting from a foreclosure of an interest in the Land and any subsequent transfers, whether or not derived through such foreclosure.

24. EasementAgreement (Ski Resort Uses) dated MAY 29, 2013, by and between Talisker Canyons PropCo LLC and VP CPC Holdings, lnc., recorded MAY 31,2013, as Entry No. 971420, in Book 2189, at Page 634, SUMMIT County Recorder's Office.

25 (AFFECTS TH|S AND OTHER PROPERTY)

Memorandum of Agreement Regarding Strategic Development Parcels and Ground Leases, dated APRIL 28, 2Q14,by and between TCFC LeaseCo LLC, a Delaware limited liability company, TCFC PropCo LLC, a Delaware limited liability company and Deutsche Bank Trust Company Americas, as collateral agent for the Lenders party to the CreditAgreement recorded APRIL 28,2014, as Entry No. 992t137, in Book 2237, at Page 976, SUMMIT County Recorder's Office.

26. (AFFECTS THrS AND OTHER PROPERTY)

Memorandum of Lease, dated MAY 29,2013, by and between Talisker Canyons LeaseCo LLC and VP CPC Holdings, lnc., disclosing the initial term of the lease is FIFTY (50) years, commencing on MAY 29, 2013 and exprring on MAY 29,2063, recorded MAY 31 ,2013, as Entry No.97141"6, in Book 2189, at Page 569, SUMMIT County Recorder's Office.

First Amendment to Memorandum of Lease, dated as of SEPTEMBER 22, 2014, by and between TCFC LEASECO LLC (f/k/a Talisker Canyons LeaseCo LLC), a Delaware limited liability company, and VR CPC Holdings, lnc., a Delaware corporation, recorded MARCH 20,2015, as Entry No. 1015140, in Book 2284, atPage 806, SUMMIT County Recorder's Office.

27. Subordinate EasementAgreement (Ski Resort Uses) dated APRIL 28,2014, by and between TCFC PropCo LLC, a Delaware limited liability company and TCFC LeaseCo. LLC, a Delaware limited liability company, recorded APRIL 28,2014, as Entry No. 9941-38, in Book 2237,at Page 1018, SUMMIT County Recorder's Office.

Copyright 2006-2009 American Land Title Association. All rights reserved. r&' $ r{ { The use of this Form is restricted to ALTA licensees and ALTA members in g;od standing as of the date of use. '{ All otherusesareprohibited. ReprintedunderlicensefromtheAmericanaandltleAsaociatio" ,l j'.j,11. File No. Page 4 of 6 STEWART TITLE - 8., 26898 " ALTA GUARANry K UT STG Commitment Sch B II COMPANY ""&--t EXHIBIT 1-22 COMMITMENT FOR TITLE INSURANCE SCHEDULE B PART II

28. (AFFECTS TH|S AND OTHER pROpERTy)

A Deed of Trust securing an indebtedness of the amount stated therein and any other amounts payable under the terms thereof:

Dated: APRIL 28,2014 Trustor: TCFC LEASECO LLC, a Delaware limited liability company f/k/a Talisker Canyons LeaseCo LLC Amount: $300,000,000.00 Trustee: Coalition Title Agency Beneficiary: Deutsche Bank Trust Company Americas, as administrative agent and collateral agent for certain lenders, together with its successors and assigns, as their interests may appear Recorded: APRIL 2014 Entry No.: 99413! Book: 2237 Page: 1039

Partial Subordination Agreement dated SEPTEMBER 29, 2014, executed by DEUTSCHE BANK TRUST COMPANY AMERICAS, AS COLLATERAL AGENT FOR THE LENDERS PARTY TO THE CREDIT AGREEMENT, recorded SEPTEMBER29,2014, as Entry No. 1003973, in Book 2259, at Page 364, SUMMIT County Recorder's Office.

Amended and Restated Fee and Leasehold Deed of Trust, Assignment of Leases and Rents, Security Agreement, and Fixture Filing as recorded SEPTEMBER 4,2015, as Entry No. 1S27486, in Book 2312, at Page '1607, SUMMIT County Recorder's Office.

29. (AFFECTS THtS AND OTHER PROPERTY)

Commercial Use Restriction and Right of First Offer Agreement, dated MAY 29, 2013, by and between TALISKER CANYONS LEASECO LLC, A DELAWARE LIMITED LIABILITY COMPANY and TALISKER CANYONS PROPCO LLC, A DELAWARE LIMITED LIABILITY COMPANY and VR CPC HOLDINGS, INC., A DELAWARE CORPORATION, recorded MAY 14,2014, as Entry No. 995142, in Book 2239, al Page 1931, SUMMIT County Recorder's Office.

NOTICE OFAGREEMENTdated NOVEMBER 29,2017, recorded NOVEMBER 30,2017, as Entry No. 1082430, in Book 2440, at Page 299, SUMMIT County Recorder's Office.

30. (AFFECTS THrS AND OTHER pROpERTy)

A Deed of Trust securing an indebtedness of the amount stated therein and any other amounts payable under the terms thereof:

Dated: SEPTEMBER 4,2015 Trustor: TCFC LEASECO LLC Amount: NON-DISCLOSED Trustee: COALITION TITLE AGENCY Beneficiary: DEUTSCHE BANK TRUST COMPANY AMERICAS Recorded: SEPTEMBER 4,2015

Entry No.: LD77d,81 Book: 2312 Page: 1 696

NOTE: THE FOLLOWNG NAMES HAVE BEEN CHECKED FOR JUDGMENTS:

TCFC PROPCO, LLC

Townhomes at the Canyons, LLC

NO UNSATISFIED JUDGMENTS HAVE BEEN FILED IN THE PAST EIGHT YEARS.

End of Exceptions

Copyright 2006-2009 American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. File No. 26898 Page 6 of 6 STEWART TITLE UT STG ALTA Commitment Sch B ll GUARANTY COMPANY ':ffi EXHIBIT 1-24 PARCEL RC16-B ALTAINSPS LAND TITLE SURVEY $RWYOR'S CERNFICAE To: T.mhn- .t th. hFr [q l6C Pq& UCi diti6 rib Ao-cy hc. cd $.d ft. Oroty hFy LOCATEO IN THE SOUTHEASI QUARTER OF SECTION 36, TOWNSHIP 1 SOUTH, nL L lo cdrry hd sh iE , *t ond 6. rld, 6 RANGE AND hod. h .d..c. rlh h 2016 xrnhh Srond.rd D.tol Prukc-tt k 3 EAST, THE NORTHEAST QUARTER OF SECIION 1, TOW\SHIP 2 U AS L@d n. 9rE Mtl, ddlld d @ld by ALT .nd NYS .nd hdu& lt-. i-{ 6,4 1A & 16-21 d ld. A S-e( ft. SOUTH, RANGE 3 EAST, SALT LAKE BASE AND MERIDIAN ftdrd ft. .md.tn o xoy 1. 2O7. SUMMIT COUNTY, UTAH RECORD OF SURVEY

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EXHIBIT 1-25 S.duls B, Po^ Il ErcQtids fiom Commitm.nt for n{. Insu.onc€

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EXHIBIT 1-26 SUREYOR'S CERNNCAE r, 6d- or.{. & hdy drry thot r .m o Pturd L.nd &mF. ond $.1 r hdd b, .usdl, .l th. 06-. I ho. 6.d. . -il, or S. @ .r lond lnto lot. .nd t d iq.s- dth ..!6-ta htufl. to b. t^oh @ iClS amlvsd PUT 6d Sot th. Eh. h6 bd cd, amF 6d -rlnctd o S. !o.d o. ao- o sh plot.

SNNOMY OESCRIPNN erlld6r*6Erd r 5 1@^E.d6ur zbq @ r@ e. bh d l.e. *@ *(d - d* ffirdcdihhbff'dd '.edy** dBdh..6&d!-c*bl rntr SkJd Urkhdr.k, rt{'k rr{ h r. d U. b hh iG. d s b rd os!.' '. srdbd..fr*d - tu-ld!@|.,adhsa tuhB....{kbr ffi(dtua rr-{hitdr dbb r 6. ffi. E(.)d- r) id dd.. tu d-. gxb hh|s. *r-duh hH.a1.'k h- o & h G, * d rc.h 14. +rsd: fr !) id.B1f k &e s b. 6 o ! qilb h4r ls !& d 2.o 4 d-i ft bt ld,d bbt .a{'h tiE o 6 b. cddol r!& 6 |M.cddcEfr r--q-.td b.s'.uffi cmbh6q d.5tul**rhidM.'ar5.nffirh a.dd*d s7g: h bh .a1.'h Bhidd4'kh [email protected] @glbftHbr .drblidffiEdb-a.drhh c c d o. re,q h M. dd {. d467 o. dr rryn {x b k 6i4 d .5 h.tr dtl-id ozlrtr hd id&&r h @ rd ..lr, k@ o ak d i &fd;l,ei6roffih ddEdzE Hbr*r-h@@ rdllacbbhrdrhhtudh dldilh*rM rb@ffi, rddEd. b. 6'. r- {. h 616. dI duk E c.b h -hq$diB*tgelsdE -lrdruEdlm4rhr6hcdd .*r.'1p.a{bhdlq ridbdudEdft kdrB b!id6nu'k b.E d*{Ge.drb@d*b.lj€nd u.re t\ 6dh.tuc.rGHbhdd$b !\ ONER.S CilSENT TO RECORD ft{ffiil-dhlld-* l\ ffiul&ldrCqM bidadhtubbd tei P'eE"- '':Sf:.,":r!:li i*);r- I l ;-'"I' ry- { "/ e rffi@ #"t i - - - nss-e-enro--e"#,ii.-.-*e .-*--= - -ff- -il - ** * *Hffi* AffNOtrDG!ENI PARCEI,RC'6-A l J-,- #' IiI ,' i''I /;/ I *i"# :/ /H/ ,/ ,r* e t kffi urlFr(turk n rr* hF.@q -. *F dr+ Gil

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- EXHIBIT 1-27 I

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WHAT DO THE STEWART TITLE COMPANIES DO WITH YOUR PERSONAL INFORMATION?

Federal and applicable state law and regulations give consumers the right to limit some but not all sharing. Federal and applicable state law regulations also require us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand how we use your personal information. This privacy notice is distributed on behalf of the Stewart Title Guaranty Company and its title affiliates (the Stewart Title Companies), pursuant to Title V of the Gramm-Leach-BlileyAct (GLBA).

The types of personal information we collect and share depend on the product or service that you have sought through us. This information can include social security numbers and drive/s license number.

All financial companies, such as the Stewart Title Companies, need to share customers' personal information to run their everyday business-to process transactions and maintain customer accounts. ln the section below, we list the reasons that we can share customers' personal information; the reasons that we choose to share; and whether you can limit this sharing.

Reasons we can share your percona! information. Do we share Can you limit this sharing? For our everyday business purposes- to process your transactions and maintain your account. This may include running the No business and managing customer accounts, such as processing Yes transactions, mailing, and auditing services, and responding to court orders and legal investigations. For our marketing purposes- to offer our products and services to Yes No you. For joint marketing with other financial companies No We don't share For our affiliates' everyday business purposes- information about your transactions and experiences. Affiliates are companies related by common ownership or control. They can be financial and Yes No non-financial companies. Our affiliates may include companies with a Stewaft name; financial companies, such as Sfewart Title Company For our affiliates' everyday business purposes- information No We don't share about your creditworthiness. For our afiiliates to market to you For your convenience, Yes Yes, send your first and last name, the email Stewart has developed a means for you- to opt out ftom its afiiliates address used in your transadion, your marketing even though such mechanism is not legally required. Stewart file number and the Stewart ofiice location that is handling your transaction by email to [email protected] or fax to 1 -800-335-9591. For non-affiliates to market to you. Non-affiliates are companies No We don't share nol related by common ownership or control. They can be financial and non-financial companies.

We may disclose your personal information to our affiliates or to non-affiliates as permitted by law. lf you request a transaction with a non-affiliate, such as a third pafi insuranc,e company, we will disclose your personal information to that non-affiliate. [We do nol control their subsequent use of information, and suggest you refer to their privacy notices.l SHARING PRACTICES How often do the Stewart Title Companies notify me We must notify you about our sharing practices when you request a about their practices? transaction. How do the Stewart Title Companies protect my To protect your personal information from unauthorized access and use, we personal information? use security measures that comply with federal law. These measures include comouter. file. and buildino safeouards. How do the Stewart Title Companies collect my We collect your personal information, for example, when you personal information? r request insurance-related services r provide such information to us We also collect your personal information from others, such as the real estate agent or lender involved in your transaction, credit reporting agencies, affiliates or other companies. What sharing can ! limit? Although federal and state law give you the right to limit sharing (e.9., opt out) in certain instances, we do not share your personal information in those inslrnaFc Contact us: lf you have any questions about this privacy notice, please contact us at' Stewart Title Guaranty Company, 1980 Post Oak Blvd., Privacy Officer, Houston, Texas 77056

File No.: 26898 Page 1 11-1 9-2013 EXHIBIT 1-29 STG Privacy Notice 2 (Rev 01/26/09) lndependentAgencies and Unaffiliated EscrowAgents

WHAT DO/DOES THE Coalition TitleAgency, lnc. DO WITH YOUR PERSONAL INFORMATION? Federal and applicable state law and regulations give consumers the right to limit some but not all sharing. Federal and applicable state law regulations also require us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand how we use your personal information. This privacy notice is distributed on behalf of Coalition Title Agency, lnc., and its affiliates (' N/A "), pursuant to T'itle V of the Gramm-Leach-Bliley Act (GLBA). The types of personal information we collect and share depend on the product or service that you have sought through us. This information can include social security numbers and driver's license number. All financial companies, such as Coalition Title Agency, lnc., need to share customers' personal information to run their everyday business-to process transactions and maintain customer accounts. ln the section below we list the reasons that we can share customers' personal information; the reasons that we choose to share; and whether you can limit this

Reasons we can share your perconal information Do we share? Can you limit this sharing? For our everyday business purposes- to process your transactions and maintain your account. This may include running the business and managing Yes No customer accounts, such as processing transactions, mailing, and auditing services and responding to court orders and legal investigations. For our marketing purposes- to offer our products and services to you. Yes No For joint marketing with other financia! companies No We don't share For our affiliates' everyday business purposes- information about your transactions and experiences. Affiliates are companies related by common ownership or control. They can be financial and non-financial companies. Yes No For our affiliates'everyday business purposes- information about your No We don't share creditworthiness.

For our affiliates to market to you Yes No For non-affiliates to market to you. Non-affiliates are companies not related by No We don't share common ownership or control. They can be financial and non-financial companies.

We may disclose your personal information to our affiliates or to non-affiliates as permitted by law. lf you request a transaction with a non-affiliate, such as a third party insurance company, we will disclose your personal information to that non-affiliate. [We do not control their subsequent use of information, and suggest you refer to their privacy notices.l

Sharing practices

How often do/does Coalition Title Agency, We must notiff you about our sharing practices when you request a transaction. lnc. notify me about their practices? How do/does Coalition Title Agency, lnc. To protect your personal information from unauthorized access and use, we use protect my personal information? security measures that comply with federal and state law. These measures include comouter. file. and buildino safeouards. How do/does Coalition Title Agency, lnc. We collect your personal information, for example, when you collect my personal information? . request insurance-related services . provide such information to us We also collect your personal information from others, such as the real estate agent or lender involved in your transaction, credit reporting agencies, affiliates or other companies. What sharing can I limit? Although federal and state law give you the right to limit sharing (e.9., opt out) in certain instances, we do not share vour personal information in those instances.

GOntaCt US I lf you have any questions about this privacy notice, please contact us at: Coalition Title Agency, \nc.,2200 Park Avenue, Suite C-100, Park Citv, UT 84060

File No.: 26898 1 EXHIBIT 1-30Page 1 of stewart title

ALTA COMMITMENT FOR TITLE INSURANCE ISSUED BY STEWART TITLE GUARANTY COMPANY

STEWART TITLE GUARANTY COMPANy a Texas Corporation ("company"), for a valuable consideration, commits to issue its policy or policies of tifle insurance, as identified in ScheduleA, in favor of the Proposed lnsured named in ScheduleA, as owner or mortgagee of the estate or interest in the land described or referred to in Schedule A, upon payment of the premiums and charges and compliance with the Requirements; all subject to the provisions of Schedules A and B and to the Conditions of this Commitment.

This Commitment shall be effective only when the identity of the Proposed lnsured and the amount of the policy or policies committed for have been inserted in Schedule A by the Company.

All liability and obligation under this Commitment shall cease and terminate six months after the Effective Date or when the policy or policies iommitted for shall issue, whichever first occurs, provided that the failure to issue the policy or policies is not the fault of the Company.

The Company will provide a sample of the policy form upon request.

This Commitment shall not be valid or binding until countersigned by a validating officer or authorized signatory'

lN WITNESS WHEREOF, Stewart Title Guaranty Company has caused its corporate name and seal to be affixed by its duly authorized officers on the date shown in Schedule A.

------,*-tr fl-- Matt Morris President and CEO Coalition Title Agency, lnc. 2200 ParkAvenue, Suite C-100 ffi Park City, UT 84060 (435)649-4008

$ecretary

For purposes of this form the "stewart Tltle" logo featured above is the represented logo for the underwriter, Stewart Title Guaranty Company.

American Land Title Association' All rights reserved' r Copyright 2006-2009 i!.N_{ t:l _! r{:5 ffr6 use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use lrlltr ! l)l): All other uses are prohibited. Reprinted under license from the American Land Title Association. - File No.270828 004-UN ALTA Commitment 6-17-06 EXHIBIT 1-31 Page 1 of 2 CONDIT!ONS

instrument' The term mortgage, when used herein, shall include deed of trust, trust deed, or other security adverse claim or other matter 2. lf the proposed lnsured has or acquired actual knowledge of any lien, encumbrance, _defect, in Schedule B hereof, affecting the estate or interest or mortgage thereon by this Commitment other than those shown from liability for any loss or and shall fail to disclose such knowledgJto the Company"ou"rjd in writing, the company shall be relieved disclose such damage resulting from any act of relLnce hereon io the extent-the company is prejudicjd by failure to. so acquires actual knowledge. lf the proposed lnsured shall disclose such knowledge to the company, or if the company otherwise may amend knowledle of any such defect, lien, encumbrance, adverse claim or other matter, the Company at its option. liability previously Schedule B of this Commitment accordingly, but such amendment shall not relieve the Company from incurred pursuant to paragraph 3 of these Conditions.

proposed and such parties included under 3. Liability of the company under this Commitment shall be only to the named lnsured in reliance hereon in the definition of lnsured in the form of policy or policies committed for and only for actual loss incurred in Schedule B, or (c) undertaking in good faith (a) to comply with the requirements hereof, or (b) to eliminate exceptions shown shall such liability to acquire or create the estate or int,erest or mortgage thereon.covered by this Commitmgn.! ln no event subject to the insuring exceed the amount stated in Schedule A for the ploti"y or pollcies commitied for and such liability is favor of the provisions and conditions and the Exclusions from Coverage of the form of policy or policies committed for in proposed lnsured which are hereby incorporated by referenle and are made a part of this Commitment except as expressly modified herein. of title or a report of the 4. This Commitment is a contract to issue one or more title insurance policies and is not an abstract may bring against the condition of tifle. Any action or actions or rights of action that the proposed lnsured may have or thereon covered by this Company arising out of the status of the tifle to the estate or interest or the status of the mortgage Commitment muit Oe based on and are subject to the provisions of this Commitment. Amount of lnsurance is 5. The policy fo be lssued contains an arbitration clause. Alt arbitrable matters when the as the exclusive remedy of the SZ,OIO,OOO or /ess shall be arbitrated at the option of either the Company or the lnsured parfties;. You may review a copy of the arbitration rules at< http://vvww.alta.orgt>.

shall be addressed to All notices required to be given the Company and any statement in writing required to be furnished the Company it at P.O. Box2029, Houston,Iexas77252.

copyright 2006-2009 American Land Title Association. All rights reserved. i)11rlll-li-\5 of use Ln!n n ll l i The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date All other uses are prohibited. Reprinted under license from the American Land Title Association. - File No. 270828 004-UN ALTA Commitment 6-17-06 EXHIBIT 1-32 Page 2 ol 2 COMMITMENT FOR TITLE INSURANCE SCHEDULE A

File No. 270828 2nd Amendment

1. Effective Date: December04,2017 at 8:00A.M. 2. Policy or Policies To Be lssued: Amount of lnsurance (a)ALTA Owner's 2006 (Standard) Amount $1,000.00 Premium $300.00

Proposed lnsured: To Be Determined (b) ALTA Loan 2006 (Standard) Amount Premium

3. The estate or interest in the land described or referred to in this Commitment and covered herein is: Fee Simple and Easement as to Parcel2 4. Title to said estate or interest in said land is at the effective date hereof vested in: TCFC PROPCO LLC, A DELAWARE LIMITED LIABILITY COMPANY

5. The land referred to in this Commitment is described as follows: SEE EXHIBIT "A" ATTACHED HERETO For information purposes only, the property address is purported to be:

LEGAL DESCRIPTION PROPOSED RC2O-B August 7,2017

A parcel of land located in the southeast quarter of Section 36, Township 1 South, Range 3 East, Salt Lake Base and Meridian, said parcel being described as follows:

Beginning at a point that is North 89'59'45" West 887.05 feet coincident with the section line and North 572.38 feet from a GLO brass cap at the southeast corner of Section 36, Township 1 South, Range 3 East, Salt Lake Base and Meridian, said point being on the southerly boundary of Silverado Lodge Condominium Amended, recorded January 5, 2006, as Entry No. 764172 in the Office of the Recorder, Summit County, Utah; and running thence coincident with said southerly boundary of Silverado Lodge CondominiumAmended East 112.08 feet; thence South 2.19 feet; thence South 10'00'00" East 354.32 feet to a point on a non tangent curve to the right having a radius of 50.52 feet, of which the radius point bears North 72"18'31" West; thence southwesterly along the arc of said curve 64.97 feet through a central angle of 73' 41'05" to a point of compound curve to the right having a radius of 425.00 feet, of which the radius point bears North 01" 22'34" East; thence westerly along the arc of said curve 57.36 feet through a central angle of 07"44'00"; thence North 10' 00'00" West 386.92 feet to the point of beginning.

The basis of bearing for the above description is North 89"59'45" West 2667.02 feet between the southeast corner and the south quarter corner of Section 36, Township '1 South, Range 3 East, Salt Lake Base and Meridian.

(Part of Tax Serial No. PP-75-L)

Parcel 2 - Beneficial Easements

Together with those perpetual right-of-way and easement rights for roadway and utility purposes over, under, and across Red Pine Road, as further referenced and described in (i) that certain Warranty Deed, dated January'18, 1995, and recorded on January 19, 1995, as Entry No. 423256, in Book 863, beginning at Page 150, and (ii) that certain Special Warranty Deed, dated February 6, 1995, and recorded on February 9, 1995, as Entry No. 424518, in Book 866, beginning at Page 830, each as recorded in the official records of the Summit County Recorder's Office in Summit Count, Utah.

File No.: 270828-Amended No. 2nd

The following are the requirements to be complied with:

1. Payment to or for the account of the grantors or mortgagors of the full consideration for the eshte or interest to be insured.

2. lnstrument(s) in insurable form, which must be executed, delivered and duly filed for record.

3. Release(s), reconveyance(s), or satisfaction(s), of items to be paid off.

4. Any matter in dispute between you and the Company may be subject to arbitration as an alternative to court action pursuant to the Title lnsurance Rules of the American Arbitration Association, a copy of which is available from the Company. Any decision reached by arbitration shall be binding upon both you and the Company. The arbitration award may include attorney's fees if allowed by state law and may be entered as a judgment in any court of proper jurisdiction.

5. This Commitment will be subject to defects, liens, encumbrances, adverse claims or other matters, if any created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date of the proposed insured acquires for value of record the estate or interest or mortgage thereon covered by this Commitment if not cleared prior to recordation of the insured interest.

6. Notice to Applicant: lf the applicant desires copies of the documents underlying any exception to coverage shown herein the Company will furnish the same on request, if available, either with or without charge as appears appropriate.

7. Notice to Applicant: The Land covered herein may be serviced by districts, service companies and/or municipalities which assess charges for water, sewer, electricity and any other utilities, etc. which are not covered by this report or insured under a title insurance policy.

8. Pay us the premiums, fees and charges for the policy. ln the event the transaction for which this commitment is furnished cancels, the minimum cancellation fee will be $300.00.

9. This Commitment is subject to approval by Stewart Title Guaranty Company, and any additional limitations, requirements and/or exceptions made by Stewart Title Guaranty Company.

10. The Title may be subject to further exceptions upon the disclosure of the identity of the buyer.

11. lf construction has begun or an inspection immediately prior to recording discloses that construction has commenced, the company will require an indemnity for mechanic's liens and a current financial statement from the borrowers. This documentation will be subject to underuvriting approval.

File No.: 270828

Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company:

4. Easements, liens, or encumbrances, or claims thereof, which are not shown by the Public Records.

6 (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water; ditch rights; (d) minerals of whatsoever kind, subsurface and surface substances, including but not limited to coal, lignite, oil, gas, uranium, clay, rock, sand and gravel and other hydrocarbons in, on, under and that may be produced from the Land, together with all rights, privileges, and immunities related thereto, whether or not the matters excepted under (a), (b), (c) or (d) are shown by the Public Records. The Company makes no representation as to the present ownership of any such interests. There may be leases, grants, exceptions or reservations of interests that are not listed.

7. Any lien or right to a lien for services, labor, or material heretofore or hereafter furnished, imposed by law and not shown by the Public Records.

8. Taxes for the year 2017 have been paid in the amount of $39,949.29 (Part of Serial No. PP-75-L).

9. The following matters reflected in that certain "Preliminary Draft for Review" ALTA/ACSM Land Title Survey, Resort Core Development Area Proposed Parcel RC20-8, dated Bl7l17, by ALLIANCE ENGINEERING, as Job No. 10-11-16: an encroachment of a gravel road along the North property line, a road sign, an underground gas line, an overhead wire to a post and gravel parking areas.

10. The property described herein is located within the boundaries of Snyderville Basin Water Reclamation District, and is subject to any and all charges and assessments thereof.

11 . The property described herein is located within the boundaries of Mountain Regional Water Special Service District and is subject to the charges and assessments thereof.

'13. lntentionally Deleted

Copyright 2005-2009 American Land Title Association. All righG reserved. The use of this Form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. Fib No. 270828 Page 1 of7 STEWART TITLE UT STG ALTA Commitment Sch B ll GUARANTY COMPANY EXHIBIT 1-36 COMMITMENT FOR TITLE INSURANCE SCHEDULE B PART II

14. lntentionally Deleted.

15. lntentionally Deleted.

16. lntentionally Deleted.

17 (AFFECTS TH|S AND OTHER pROpERTy)

Development Agreement for The Canyons Specially Planned Area, recorded July 28, 1998 as Entry No. 5L3500 in Book 1168 at Page 82 of Official Records, but deleting any covenant, conditions or restrictions indicating a preference, limitation or discrimination based upon race, color, religion, sex, handicap, familial status or national origin to the extent such covenants, conditions or restrictions violate 42 USC 3604 (c).

An Ordinance Amending The Canyons SPA Rezone Ordinance and Development Agreement was recorded November 24,1999 as Entry No. 5539L0 in Book 1297 al page 403 of the Official Records.

An Amended and Restated Development Agreement for The Canyons Specially Planned Area, recorded November 24,1999 as Entry No. 35391n in Book 1297 at page 405 of the Official Records.

An Amendment to Amended and Restated Development Agreement for The Canyons Specially Planned Area, recorded December22,2006 as Entry No.79Eg53 in Book 1837 at page1251of Official Records.

Summit County Ordinance No. 691-A, an Ordinance Approving and Adopting the Amended and Restated Snyderville Basin Special Recreation District RegionalTrailsAgreement, Exhibit1.2.3, of The Canyons SPAand Development Agreement as Amended recorded May 20,2010 as Entry No. 899057 in Book 2032 at page 1797 of Official Records.

Summit County Ordinance 739-A, an Ordinance Approving and Adopting an Amendment to The Canyons Specially Planned Area (SPA) Pertaining to the Colony at White Pine Canyon recorded September 23,2010 as Entry No. 9a7329 in Book 2048 at page 1838 of Official Records, and re-recorded March 29,2011as Entry No. 91S803 in Book 2075 al page 380 of Official Records.

Snyderville Basin Special Recreation district Reclassification Notice, recorded DECEMBER 30,2010, as Entry No. 91"4096, in Book 2063, at Page 1742, SUMMIT County Recorder's Office.

Memorandum of PartialAssignment dated SEPTEMBER 17,2013 executed by ASC Utah LLC, a Delaware limited liability company (as successor-by-merger to ASC Utah, lnc., d.b.a. The Canyons) ('ASCU'), and VR CPC Holdings, lnc., a Delawarecorporation ('VR CPC') recorded OCTOBER 11,2013, as Entry No.981238, in Book 2211, al Page 1034 in SUMMIT County.

Administrative Amendment to Amended and Restated DevelopmentAgreement for THE CANYONS SPECIALLY PLANNEDAREA, SUMMITCOUNry UTAH, by and between VR CPC HOLDINGS, lNC., lN ITS CAPACITYAS PARTIAL ''MASTER DEVELOPER'" AND SUMMIT COUNry A POLITICAL SUBDIVISION OF THE STATE OF UTAH, recorded FEBRUARY 5, 2015, as Entry No. 1"012254, in Book 2278, at Page 680, SUMMIT County Recorder's Office.

Amendment to Amunded and Restated Devolopment Agreament for Tho Canyons Specially Planned Area, recordcd March 21,20L7 as Entryl,,lo, 1.o65938 in Book 2402at page40of OfficialRecords,

18. I ntentionally Deleted.

19 (AFFECTS THrS AND OTHER PROPERTY)

A Right of Way and Easement, to lay, maintain and operate pipes, pipe line, valves, valve boxes and other gas transmission and distribution facilities, and incidental purposes, as granted to Questar Gas Company in the document recorded December 29, 1998 as Entry No. 526242 in Book 1215 at page 540 of Official Records; and being more particularly described below:

Land of the Grantor located in Section 36, Township 1 South, Range 3 East, Salt Lake Base and Meridian:

Beginning at a point North 1253 feet and West 750 feet from the Southeast Corner of Section 36, Township 1 South, Range 3 East, Salt Lake Base and Meridian, said point being on Grantor's Northeast property corner; thence South 510.60 feet; thence West 30 feet, thence North 510.60 feet; thence East 30 feet to the point of beginning.

Also, beginning at a point North 572.40 feet and West 750 feet from the Southeast Corner of Section 36, Township 1 South, Range 3 East, Salt Lake Base and Meridian, said point being on the Grantor's Northeast property corner; thence South 10'00'00" East 355 feet; thence along the arc of 636.62 foot radius curve to the left with a central angle of 57'36'00" for a distance of 640 feet (chord bears South 18'48'00" West 6'13.93 feet); thence North 48'31'00" West 25.15 feet; thence Northeasterly along the arc of a 611.62 foot radius curve to the left with a central angle of 57'36'00" for a distance ol 617 .54 feet (chord bears North 18'48'00' East); thence North 10o00'00" West 359.41 feet; thence East 25.39 feet, more or less, to the point of beginning;

Beginning at a point North 1360.64 feet and West 782.23 feet from the Southeast Corner of Section 36, Township 1 South, Range 3 East, Salt Lake Base and Meridian;thence South 32"00'0'1" East 62.46feet; thence North 70' 51'40" East 38.74 feet; thence South 66.51 feet; thence West 150 feet; thence North 1511.04 feet; thence East 80.31 feet to the point of beginning;

Beginning at a point on the North right of way Park West Drive which is on the East Section line of Section 36, Township 1 South, Range 3 East, Salt Lake Base and Meridian, North 1460 feet, more or less, from the Southeast corner of said section; and running thence South along said East section line 80 feet, more or less, to a point on the South right of way line of Park West Drive; thence Westerly along said right of way line and along the arc of a 392 foot radius curve to the right, 256 feet, more or less, to a point of tangency; thence North 78"00' West along said right of way line 182.52 feet to a point on a 339.50 foot radius curve to the left; thence Westerly along said South right of way line and along the arc of said curve 201.46 feet to a point of reverse curvature, thence Westerly 125.87 feet along said right of way line and along the arc of a 1260 foot radius curve to the right, the long chord of which nears South 70'5'1'42" West 125.83 feet; thence North 32'West 62.46 feet to a point on the North right of way line of Park West Drive; thence Northeasterly 136.81 feet along said North right of way and along the arc of a 1200 foot radius curve to the left, the long chord of which bears North 71'15'5B" East 136.75 feet; thence Easterly 278.73 feet along said right of way line and along the arc of a 469.70 foot radius curve to the right, the chord of which bears North 85'00'Eas|274.65 feet; thence South 78"00' East 143.27 feet along said right of way line to a point on a 320 foot radius curve to the left; thence Northeasterly along the said North right of way line and along the arc of said curve 250 feet, more or less, to the point of commencement.

20. lntentionally Deleted.

21. (AFFECTS THTSAND OTHER pROpERTy)

A non-exclusive easement granted to Grand Summit Resort Properties, lnc., for construction, ingress and egress and installing utility lines; subject to the terms and conditions contained therein; in the EasementAgreement recorded December3l, 1998 as Entry No.526558 in Book 1217 al page 152 of Official Records.

First Amendment to Easement Agreement recorded January 31 , 2000 as Entry No. 558228 in Book 1305 at page 695 of Official Records.

The interest of Grand Summit Resort Properties, lnc., a Maine corporation, in and to said EasementAgreement has been assigned to The Canyons Resort Village ManagementAssociation, a Utah nonproflt corporation by that certain Assignment of Easement recorded January 3'1, 2000 as Entry No. 558230 in Book 1305 at page 706 of Official Records.

22. (AFFECTS THIS AND OTHER pROpERTy)

First Amendment to Easement Agreement recorded December 20, 1999 as Entry No. 555579 in Book 1300 at page 1067 of Official Records.

The interest of American Skiing Company Resort Properties in and to said easement has been assigned to The Canyons Resort Village ManagementAssociation, lnc., a Utah nonprofit corporation, as disclosed by the certain Assignment of Easement recorded December 20, 1999 as Entry No. 555580 in Book 1300 at page 1074 of Official Records.

23. lntentionally Deleted.

24. (AFFECTS THIS AND OTHER pROpERTy)

The limitations, covenants, conditions, restrictions, exceptions, easements, terms and liens contained within that certain Management Agreement for The Canyons Resort Village recorded December 15, 1999 as Entry No. 555285 in Book 1300 at Page 1 of Official Records, but deleting any covenant, conditions or restrictions indicating a preference, limitation or discrimination based upon race, color, religion, sex, handicap, familial status or national origin, to the extent such covenants, conditions or restrictions violate 42 USC 3604 (c).

First Amendment to the Management Agreement for The Canyons Resort Village (Sundial Lodge), recorded December 17, 1999 as Entry No. 55543{ in Book 1300 at Page 668 of Official Records.

Second Amendment to the ManagementAgreement for The Canyons Resort Village (Spoor), recorded January 11,2000 as Entry No. 556961 in Book 1303 at Page 296 of Official Records.

Third Amendment to the Management Agreement for The Canyons Resort Village (Grand Summit), recorded January 31,2000 as Entry No. 558232 in Book 1305 at Page719 of Official Records.

25. lntentionally Deleted.

26. (AFFECTS TH|S AND OTHER pROpERTy)

Copyright 2005-2009 American Land Title Association. All rights reserved. The use of this Form is restricted to ALTA li€nsees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land lltle Association. File No. 270828 Page 4 of 7 STEWART TITLE UT STG ALTA Commitment Sch B ll EXHIBIT 1-39 COMMITMENT FOR TITLE INSURANCE SCHEDULE B PART II

A Memorandum and Notice of Lien and Security lnterest Granted to The Canyons Resort Village Association, lnc., Pursuant to The Canyons Resort Village Management Agreement was recorded March 14, 2006 as Entry No. 77LAI5 in Book 1776 at page 1762 of Officiat Records

An Amendment to Memorandum and Notice of Lien and Security lnterest Granted to The Canyons Resort Village Management Association, lnc., Pursuant to The Canyons Resort Village Management Agreement was recorded August 15, 2006 as Entry No. 786761 in Book 1809 at page 1709 of Official Records.

Third Amendment to Memorandum and Notice of Lien and Security lnterest Granted to The Canyons Resort Village Management Association, lnc., Pursuant to The Canyons Resort Village Management Agreement was recorded August 20, 2010 as Entry No. 90527C in Book 2044 at 1378 of Official Records.

Partial Release of Management Agreement and Partial Release of Memorandum and Notice of Lien and Security lnterest, recorded FEBRUARY 10,2015, as Entry No. 1012484, in Book 2278,atPage 1671of official records.

27. (AFFECTS TH|S AND OTHER pROpERTy)

A Notice of Reinvestment Fee Covenant, recorded May 28, 2010 as Entry No. 899508 in Book 2033 at page 1651 of Official Records.

Partial Release of Notice of Reinvestment Fee Covenant, recorded FEBRUARY 10,2015, as Entry No. 1O12485, in Book 2278, at Page 1673, SUMMIT County Recorder's Office.

28. EasementAgreement (Ski Resort Uses) dated MAY 29, 2013,by and between Talisker Canyons PropCo LLC and VP CPC Holdings, lnc., recorded MAY 31,2013, as Entry No. 971420, in Book 2189, at Page 634, SUMMIT County Recorder's Office.

29. (AFFECTS TH|S AND OTHER pROpERTy)

Memorandum of Agreement Regarding Strategic Development Parcels and Ground Leases, dated APRIL 28, 2014, by and between TCFC LeaseCo LLC, a Delaware limited liability company, TCFC PropCo LLC, a Delaware limited liability company and Deutsche Bank Trust Company Americas, as collateral agent for the Lenders party to the Credit Agreement recorded APRIL 28,2014, as Entry No. 994137, in Book 2237, al Page 976, SUMMIT County Recorder's Office.

30. (AFFECTS THrS AND OTHER pROpERTy)

Memorandum of Lease, dated MAY 29, 2013, by and between Talisker Canyons LeaseCo LLC and VP CPC Holdings, lnc., disclosing the initial term of the lease is FlFry (50) years, commencing on MAY 29, 2013 and

expiring on MAY 29,2063, recorded MAY 31 ,2013, as Entry No.971415, in Book 2189, at Page 569, SUMMIT County Recorder's Office.

First Amendment to Memorandum of Lease, dated as of SEPTEMBER 22, 2014, by and between TCFC LEASECO LLC (flkla Talisker Canyons LeaseCo LLC), a Delaware limited liability company, and VR CPC Holdings, lnc., a Delaware corporation, recorded MARCH 20,2015, as Entry No. 1015140, in Book 2284, atPage 806, SUMMIT County Recorder's Office.

31. Subordinate EasementAgreement (Ski Resort Uses)datedAPR|L 28,2014, by and between TCFC PropCo LLC, a Delaware limited liability company and TCFC LeaseCo. LLC, a Delaware limited liability company, recorded APRIL 28,2014, as Entry No. 894138, in Book 2237, at Page 1018, SUMMIT County Recorder's Office.

32. (AFFECTS THIS AND OTHER PROPERTY)

A Deed of Trust securing an indebtedness of the amount stated therein and any other amounts payable under the terms thereof:

Dated: APRTL 28,2014 Trustor: TCFC LEASECO LLC, a Delaware limited liability company f/k/a Talisker Canyons LeaseCo LLC Amount: $300,000,000.00 Trustee: Coalition Title Agency Beneficiary: Deutsche Bank Trust Company Americas, as administrative agent and collateral agent for certain lenders, together with its successors and assigns, as their interests may appear Recorded: APRIL 2014 Entry No.: 994139 Book: 2237 Page: 1 039

Partial Subordination Agreement dated SEPTEMBER 29, 2014, executed by DEUTSCHE BANK TRUST COMPANY AMERICAS, AS COLLATERAL AGENT FOR THE LENDERS PARTY TO THE CREDIT AGREEMENT, recorded SEPTEMBER 29,2014, as Entry No. 1003973, in Book 2259, al Page 364, SUMMIT County Recorder's Office.

Amended and Restated Fee and Leasehold Deed of Trust, Assignment of Leases and Rents, Security Agreement, and Fixture Filing as recorded SEPTEMBER 4, 2015, as Entry No. 1027486, in Book 2312, at Page 1607, SUMMIT County Recorder's Office.

33. (AFFECTS THtS AND OTHER pROpERTy)

Commercial Use Restriction and Right of First OfferAgreement, dated MAY 29,2013, by and between TALISKER CANYONS LEASECO LLC, A DELAWARE LIMITED LIABILITY COMPANY and TALISKER CANYONS PROPCO LLC, A DELAWARE LIMITED LlABlLlry COMPANY and VR CPC HOLDINGS, lNC., A DELAWARE CORPORATION, recorded MAY 14,2014, as Entry No. 995]"42, in Book 2239, at Page 193'1, SUMMIT County Recorder's Office

NOTICE OFAGREEMENTdated NOVEMBER 29,2017, recorded NOVEMBER 30,2017, as Entry No. 1082430, in Book 2440, at Page 299, SUMMIT County Recorder's Office.

copyright 2005-2009 American Land Title Association. All rights reserved. I The use of this Form is restricted to ALTA liensees and ALTA members in good standing as of the date of use All other uses are prohibited. Reprinted under license from the American Land Title Association. Fib No.270828 Page 6 of7 STEWART TITLE t{ UT STG ALTA Commitment Sch B ll GUARANTY COMPANY '.*f;; EXHIBIT 1-41 COMMITMENT FOR TITLE INSURANCE SCHEDULE B PART II

34. (AFFECTS THtS AND OTHER pROpERTy)

A Deed of Trust securing an indebtedness of the amount stated therein and any other amounts payable under the terms thereof:

Dated: SEPTEMBER 4, 2015 Trustor: TCFC LEASECO LLC Amount: NON-DISCLOSED Trustee: COALITION TITLE AGENCY Beneficiary DEUTSCHE BANK TRUST COMPANY AMERICAS Recorded: SEPTEMBER 4,2015 Entry No.: 1027487 Book: 2312 Page: 1696

NOTE: THE FOLLOWNG NAMES HAVE BEEN CHECKED FOR JUDGMENTS:

TCFC PROPCO, LLC

NO UNSATISFIED JUDGMENTS HAVE BEEN FILED IN THE PAST EIGHT YEARS.

End of Exceptions

TCFC PropCo LLC

Sustainability:

In support of Summit County’s Resolution Establishing Renewable Energy and Emissions Reduction Goals (Resolution #2017-16), TCFC PropCo LLC will advise in writing all land purchasers and future developers who are transacting with TCFC PropCo LLC of the existence of the Resolution and specifically including a copy of the Resolution in any future purchase and sale agreements for property owned by TCFC PropCo LLC within the SPA Development Area, and will use reasonable efforts to encourage those land purchasers and future developers to design their projects in a manner consistent with the Resolution and the sustainability goals of Summit County, which, by way of illustration only, may including the use of clean energy source when available (Resolution 2017-16, Section 1.b.: Renewable Energy Goals); passive heating and cooling design; increased building insulation; energy efficient HVAC systems; green roofs; energy efficient lighting systems; energy efficient glass systems; electronic building control systems; rainwater collection; and construction waste management. This condition will be voluntary and will not obligate TCFC PropCo LLC or any land purchasers of land or future developers to implement or comply with any specific sustainability practices or review, or design, development, or construction methods, unless and until Summit County or The Canyons Village Management Association, Inc. implements specific sustainability ordinances or design guidelines.

EXHIBIT 2 CVMA Transportation Master Plan Update Narrative

December 8, 2017

As required under the Development Agreement between Summit County and the CVMA regarding the Specially Planned Area (SPA) for The Canyons, the CVMA’s current Transportation Master Plan (TMP) was submitted to Summit County in final form in December 2015 and accepted by the County Council on January 13, 2016. This plan requires that an annual update be provided to the County identifying progress towards mitigation initiatives and trip reductions. Over the past two years, the CVMA has collected the data required by the Plan’s Monitoring Program, and has utilized the existing calculation methodology to provide this annual reporting. Under the existing TMP, this methodology calculates daily vehicle trips generated by each land use in Canyons SPA (utilizing Institute of Traffic Engineers (ITE) trip generation rates) and compares these anticipated volumes against actual vehicle counts recorded on Canyons Resort Drive. The difference between these two figures determines the percentage of mitigation. The mitigation goal provided within the TMP is listed as 27% at build-out. Under the current methodology, the CVMA is in compliance according to the terms of the Development Agreement.

The TMP anticipated that issues would arise requiring greater interpretation or definition during the first few years of implementation through execution of the monitoring program (data collection) and use of the calculation methodology. These issues were slated to be addressed in the 2019 revision to the TMP as foreseen in the following excerpts from the 2015 report:

“It is worth noting, however, that several assumptions were made to develop these trend lines and the initial calibration should be checked during the next transportation plan update and after the data collection efforts have been in place for several years (2019).”

“Given the limited data currently available, it was necessary to make several assumptions for this comparison. Implementing the monitoring program and collecting accurate data will help to refine these assumptions.”

“Given the limited data currently available, it was necessary to make assumptions to determine these modified trip generation rates. The modified trip generation rates yield a very conservative estimation of trip generation without trip reduction strategies. The monitoring program (discussed in Chapter 8) outlines a procedure for measuring the effectiveness of the proposed trip reduction strategies, verify the trip generation assumptions, and re-calibrate the assumptions, if necessary.”

As part of the Planning Commission’s positive recommendation to the Council to approve the Canyons Master Plan and SPA Amendments, it was requested that TCFC and CVMA clarify the calculation methodology for the trip reduction goal of 27%.

In response to the Planning Commission’s request, the CVMA scheduled weekly coordination meetings with County staff (Engineering and Transportation Planning) as well as secured Hales Engineering to assist with the TMP update in advance of the original 2019 requirement.

Regular input and feedback from County staff has been, and continues to be utilized in identifying specific assumptions to clarify, calibrate, and verify as part of the updated TMP. Accordingly, we have begun researching the original intent behind the TMP’s 27% goal and identifying the possibility of other

EXHIBIT 3-1 calculation methodologies. For example, mitigation goals such as required levels of service within Canyons Village will be reviewed. To facilitate this effort, we have scheduled 30+ data collection points (as compared to three points currently called for under the Monitoring Program) to be collected over several design days occurring between December 2017 and March 2018 for this winter season.

With these efforts underway, the CVMA and County staff anticipate that the desired updates and clarifications will be completed by May 31st of 2018.

EXHIBIT 3-2