Manufacturers and Traders Trust Company
SITE DEVELOPMENT MORTGAGE NOTE
August 20, 2004
Big Boulder Corporation a(n) ( ) individual(s) ( ) partnership ( x ) corporation ( ) trust ( ) limited liability
company ( )
under the laws of Pennsylvania
Address of residence/chief executive office: Route 940 and Moseywood Road, P.O. Box 707, Blakeslee, Pennsylvania 18610-
LENDER: Manufacturers and Traders Trust Company, a New York banking company, with offices located at One Fountain
Plaza, Buffalo, New York 14203. Attn: M&T Real Estate, Inc.
Definitions. Each capitalized term shall have the meaning specified herein and the following terms shall have the indicated
"Loan Agreement" shall mean the agreement between, inter alia, Borrower and the Lender dated on or about the
date hereof in connection with the construction and mortgage financing of real property described in the Mortgage, as the
same may be amended, modified or replaced from time to time.
"Maturity Date" is August 1, 2006.
"Mortgage" shall mean the mortgage dated on or about the date of this Note executed by Borrower as the same may
be amended, modified or replaced from time to time.
"Principal Sum" shall mean Eight Hundred Sixty-Four Thousand Eight Hundred Twenty Dollars ($864,820.00).
Promise to Pay. For value received, and intending to be legally bound, the undersigned Borrower promises to pay to the order
of the Lender at its office identified above in lawful money of the United States and in immediately available funds, the
Principal Sum or so much thereof as may be advanced, plus interest on the unpaid portion of the Principal Sum, and all
Expenses (defined below). Advances under this Note shall be made pursuant to the terms and conditions of the Loan
Interest. All outstanding amounts of the Principal Sum advanced to Borrower under this Note shall accrue interest at a per
annum rate equal