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Filed for Record 04/16/2009 04:48:53 PM - Kittitas County, WA Auditor - 200904160090 Page 4 of 118 <br />B. Suncadia is the owner of the Resort consisting of approximately 6,217 acres <br />located within Kittitas County, the outer boundary of which property is more particularly <br />described in the legal description attached as EXHIBIT A (Rev. 1) and incorporated herein by <br />reference (the "Trendwest Property"). Trendwest Investments purchased the Trendwest Property <br />on June 21, 2000 from JELD-WEN, NC. ("JELD-WEN"), an Oregon corporation registered to <br />conduct business in the state of Washington. Trendwest Investments is a wholly-owned <br />subsidiary of Trendwest Resorts. <br />C. Trendwest Resorts is a public company in which JELD-WEN owns a controlling <br />interest. <br />D. Trendwest desires and intends to develop the Trendwest Property pursuant to <br />RCW 36.70A.360 as the MountainStar Master Planned Resort ("MountainStar" or "Resort"), <br />including, but not limited to, (i) golf courses and other on-site indoor and outdoor recreational <br />amenities. (ii) conference centers, (iii) hotels, condominiums, time-share units, resort chalets and <br />single-family residences (including vacation and second homes), (iv) an equestrian facility, (v) <br />an interpretive center, and (vi) open space, as more particularly described in Trendwest's <br />MountainStar Resort Conceptual Master Plan set forth in the County's Final Environmental <br />Impact Statement and as thereafter amended (more particularly described in Recital I(6) below). <br />E. The County has determined that this Agreement is appropriate for MountainStar <br />and, therefore, desires to enter this Agreement. This Agreement establishes planning principles, <br />development standards and procedures to eliminate uncertainty in planning and to guide the <br />orderly development of MountainStar consistent with the County's Comprehensive Plan (the <br />"Comprehensive Plan") and Master Planned Resort Zoning District (as defined in Recital 1(8) <br />below); to mitigate probable significant, adverse environmental impacts; to ensure installation of <br />Suncadia Master Planned Resort Development Agreement (Amended and Restated 12-02-2008) Page 3 <br />