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BOARD OF COUNTY COMMISSIONERS <br />COUNTY OF KITTITAS <br />STATE OF WASHINGTON <br />RES oLUrroN No. zoz r--|_Q_L <br />RESOLUTION AUTHORIZING THE TRANSFER OF THE SUNCADIA <br />PROPERTY AND DEVELOPMENT AGREEMENT AND ITS ENTITLEMENTS, <br />OBLIGATIONS, COVENANTS, AND CONDITIONS <br />A. WHEREAS, The County and New Suncadia LLC's ('oNew Suncadia") predecessors in <br />interest previously entered into that certain Development Agreement dated October 10, 2000, <br />which was amended on Decemb er 2,2008, together with MPR Approvals and Subsequent Actions <br />and all other underlying documents defined, attached or referenced therein (collectively the <br />"Development Agreement"). <br />B. WHEREAS, This matter came before the Board of County Commissioners in a public <br />meeting on July [, 202I, after due notice and pursuant to the request of N"* Suncadia that Kittitas <br />County consent to the transfer of New Suncadia's property, entitlements, obligations, covenants, <br />and conditions under the Development Agreement to Suncadia Resort, LLC ("suncadia Resort"), <br />a Deleware Limited Liability Company registered to do business in the State of Washington, <br />directly owned by Real Capital Solutions <br />C. WHEREAS, the Board of County Commissioners makes the following Findings of <br />Fact related to a requested transfer of the Development Agreement and the entitlements, <br />obligations, covenants, and conditions contained within the Development Agreement by New <br />Suncadia to Suncadia Resort: <br />1. Under Section 9 of the Development Agreement, New Suncadia has the right to assign <br />or transfer all or any portion of the property subject to the Development Agreement <br />and the entitlements, obligations, covenants, and conditions under the Development <br />Agreement, including the MPR Approvals and Subsequent Actions as defined therein, <br />to third parties; and <br />2. New Suncadia's ability to transfer its property, entitlements, obligations, covenants and <br />conditions under the Development Agreement is not effective unless and until the <br />County has consented, in writing, to such transfer and the County's consent to such <br />transfer shall not be unreasonably withheld, conditioned or delayed under the <br />Development Agreement; and <br />3. The sale of property and transfer of all entitlements from New Suncadia to Suncadia <br />Resort is anticipated to close on or about July jl,202l (the"Transfer"); and <br />4. Subject to but upon the closing of the Transfer, New Suncadia is seeking to be released <br />from its entitlements, obligations, covenants and conditions under the Development <br />Agreement to the County; and <br />Page I of 3