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� <br />� <br />May 17, 2010 <br />� Page 2 <br />� payment of $85,000 and a Promissory Note of $ZOO,OQO. The second resolution amends the <br />budget to authorize the additional revenues and expenditures to implement the settlement. <br />Additionally, please note that the Board is taking immediate steps to pay off the Promissory <br />� Note, as you requested, and intends to pay it off as soon as the requisite fands are available <br />which, hapefully, will he well before the end of tbe payoffperiod. <br />� The Dis#rict would like to set the closing for this Thursday, May 20, 2014. Accordingly, I have <br />dated tiie documents as afthat date. I have the original check for $85,Q00 payable to <br />Breckenridge Meadows I}eveloprnent Company, as wel� as the executed Pramissory Nate and <br />� Deed of Trust. As I indicated in my April 7, 2010 email ta you, I will hold these doczunents until <br />T receive from you the executed Special Warranty Deed and Quitclaim Deed, along with the <br />Breckenridge Meadaws Development Company's current Qperating Agreement, and any <br />� amendment(s) thereto, which confirm #hat you have the authority to sign for and bind <br />Breckenridge Meadows Development Company, Once I get those docwments from you, T will <br />Fedex the check and ti�e Prvrnissary Note to you, and mail the Special Warranty Deed, Quit <br />Clairn Deed, and Deed of Trust to the Summit Caunty Recc�rder for recording. If you would <br />� prefer another process, please Iet me knaw. <br />Thaialcs. Please don't hesita.te to contact me if you have any questions or cornments. <br />Sineerely, <br />� VRAN$SH ANn RAISCH LLP <br />� Eugene J. Riordan, Esq. <br />� EJR:kek <br />Enclosures <br />cc: Alan Wickert, {w/encl.) <br />� <br />� <br />� <br />� <br />� S:\ClientlSWAn's NestlTimm Itr af 5.17.10.doe <br />� <br />