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<br />b. The cost of rental equipment such as skis, ski <br /> <br />boots and ski poles which shall be amortized over a three year <br /> <br />period and capitalized at the rate of 7~% interest. <br /> <br />c. A management fee which shall be 20% of the gross <br /> <br />profit hereinabove defined. <br /> <br />Federal and state income tax obligations of the <br /> <br />Operator shall not be deducted from either gross profit or <br /> <br />net profit under this agreement. <br /> <br />4. The schedule of fees and charges shall be as set <br /> <br />forth in the attached schedule marked "Exhibit B" and incor- <br /> <br />porated herein by reference, and shall be subject to annual <br /> <br />review together with operating policies and procedures by <br /> <br />the Village and the Operator, and shall be established on <br /> <br />or before September 1st of each year, commencing with <br /> <br />the year 1968, for the following ski season's operation. <br /> <br />In the event the Village and the Operator cannot agree as <br /> <br />to the schedule of fees and charges, the matter shall be <br /> <br />settled by binding arbitration in accordance with the rules <br /> <br />of the American Arbitration Association. <br /> <br />5. The Operator shall furnish to the Village within <br /> <br />one hundred and eighty (180) days from the date of this <br /> <br />a~r@@rn@fiti af thifty (~OJ days fallowing BBffipl@t16fi of <br /> <br />construction, whichever date occurs first, a list of all <br /> <br />fees and charges for construction of the said ski facilities, <br /> <br />and related buildings, which figures shall be subject to <br /> <br />audit by the Village, and shall be used as a basis for <br /> <br />determining construction costs for the purposes of this <br /> <br />agreement. <br /> <br />If any additional capital improvements are to <br /> <br />nj!:':'l. n'~""o,4 ..".,"''''' +-h~ o~;r1 ~~"",';'';.J.-~.. ...;:J...._.:__ L't.-_ '~.c_ _.c L'.!_ <br />