Ski Area. The Commercial Activities will also include activities relating to the recreational areas known as Keystone Mountain (the “Ski Area”). The Ski Area represents a unique and desirable amenity that includes many year-round activities. As such, the Ski Area may generate an unpredictable amount of visible, audible and odorous impacts and disturbances from activities relating to the construction, operation, use and maintenance thereof. As such (a) the Residence is located adjacent to or in the vicinity of areas used for skiing, all-season recreational purposes and other Mountain Activities (the “Mountain Recreational Areas”); (b) the Mountain Recreational Areas are expected to generate an unpredictable amount of visible, audible and odorous impacts and disturbances from activities relating to the construction, operation, use and maintenance of the Mountain Recreational Areas (the “Mountain Activities”); (c) the Mountain Activities may include, without limitation: (i) movement and operation of passenger vehicles (including buses, vans and other vehicles transporting passengers over adjacent streets and over, around and through the Mountain Recreational Areas), commercial vehicles, and construction vehicles and equipment; (ii) activities relating to the construction, operation and maintenance of roads, trails, ski trails, skiways and other facilities relating to the Mountain Recreational Areas (including tree cutting and clearing, trading and earth moving and other construction activities, construction, operating and maintenance of access roads, snow making equipment, chairlifts, gondola, busses or other transportation systems, operation of vehicles and equipment relating to trash removal, snow removal, snow grooming and over-the-snow or over-the-terrain transportation purposes, and operation of safety and supervision vehicles); (iii) activities relating to the use of the Mountain Recreational Areas (including skiing, snow-boarding, ski-patrol activities, and other over-the-snow activities, hiking, horseback riding, alpine slide, zipline, bicycling and other recreational activities); (iv) ski racing and organized events and competitions relating to the activities described in clause (iii) above; (v) concerts, festivals, art and other shows and displays, fireworks displays, outdoor markets and other performances and special events; (vi) restaurants, clubs, restrooms and other public use facilities; (vii) public access to adjacent U.S. Forest Service lands; (viii) p...
Ski Area. Substantially all of the downhill trails at the Resort are located on lands leased from the State of Vermont. The current lease arrangements are renewable every ten years until 2068, but impose certain obligations which, if not followed, could result in termination of the lease; and also authorize the State to terminate the lease without cause. Smugglers’ believes that prepaid ski privileges are protected by the lease documents. Smugglers’ also believes that termination is unlikely, would be unprecedented and wholly out of character with the long-standing partnership between the private and public sectors in Vermont. In the event that the lease arrangements are terminated and the prepaid skiing privileges are ended, the Purchaser will be entitled to a pro-rata refund of the portion of the purchase price attributable to the skiing privileges for the number of years remaining in the Term.
