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1/6/14 State.co.us Eecutive Branch Mail-EPRC stock release <br /> ' '. ''' STATE OF <br /> iw. ),' COLORADO <br /> EPRC stock release <br /> Carol Carnie <CCarnie @vailresorts.com> Mon, Jan 6, 2014 at 11:14 AM <br /> To: "steve.biondo @state.co.us" <steve.biondo @state.co.us> <br /> Steve <br /> In regards to the partial release of collateral that was processed, I wanted to confirm to you that the parties to the <br /> Loan Contract are the same and there have not been any name changes or transfers. <br /> In addition, the Assignment of Deposit Account as Security is still valid. <br /> If you need any additional information please let me know. <br /> Thanks <br /> Carol L Carnie, CPA <br /> Director Joint Venture Accounting <br /> Vail Resorts Management Company <br /> 390 Interlocken Crescent <br /> Broomfield, CO 80021 <br /> 303-404-1934 <br /> ccarnie @vailresorts.com <br /> VAILRESORTS® <br /> EXPERIENCE OF A LIFEfIMETH <br /> The information contained in this message is confidential and intended only for the use of the individual or entity <br /> named above, and may be privileged. Any unauthorized review, use, disclosure, or distribution is prohibited. If you <br /> are not the intended recipient, please reply to the sender immediately, stating that you have received the <br /> message in error, then please delete this e-mail. Thank you. <br /> https://mai I.g oog le.com/mail/u/0/?ui=28i k=4d92e78cfa&view=pt&search=i nbox&th=14368c377b70d10a 1/1 <br />