PARTICIPANT AGREEMENT, RELEASE AND ASSUMPTION OF RISK

In consideration of the services of Helitrax Inc DBA Telluride Helitrax, Telluride Resort and Spa LLC, Peaks Capital Partners LLC, The Peaks Owners Association Inc, and Mountain Blade Runner LLC, their agents, owners, officers, volunteers, employees, and all other persons or entities acting in any capacity on their behalf (hereinafter collectively referred to as "HTRX"), I hereby agree to release, indemnify, and discharge HTRX, on behalf of myself, my spouse, my children, my parents, my heirs, assigns, personal representative and estate as follows:

1. I acknowledge that my participation in guided heli-skiing activities entails known and unanticipated risks that could result in physical or emotional injury, paralysis, death, or damage to myself, to property, or to third parties. I understand that such risks simply cannot be eliminated without jeopardizing the essential qualities of the activity.
   
   The risks include, among other things: hidden obstacles by snow including crevasses, ice and snow cornices, tree stumps, creeks, rocks and boulders; loss or damage to equipment being used; being lost or separated from their guides or companions by traveling in forested areas; rugged terrain; exposure to the elements of the outdoors and natural surroundings which could cause hypothermia, hyperthermia (heat related illnesses), heat exhaustion, sunburn, dehydration, frostbite, frost nip, acute mountain sickness, cerebral and pulmonary edema; exposure to potentially dangerous wild animals, insect bites, and hazardous plant life; the negligence of participants or other persons who may be present; collision with fixed or movable objects, manmade or natural obstacles; major injuries are at risk as are musculoskeletal injuries including head, neck, and back injuries; consumption of food or drink; my own physical condition, and the physical exertion associated with this activity. Snow depth, instability of snow pack or varying and difficult weather and snow conditions may cause avalanches. Communication in this mountain terrain is always difficult and in the event of an accident, rescue and medical treatment may not be immediately available.
   
   Helicopter and other transportation, including mechanical failure and operational error have increased risks in mountainous areas, especially in winter weather conditions.
   
   Furthermore, HTRX personnel have difficult jobs to perform. They seek safety, but they are not infallible. They might be unaware of a participant'sfitness or abilities. They might misjudge the weather, other environmental conditions. They might misjudge whether the terrain is safe for travel or where or when an avalanche may occur. They may give incomplete warnings or instructions, and the equipment being used might malfunction.
2. I expressly agree and promise to accept and assume all of the risks existing in this activity. My participation in this activity is purely voluntary, and I elect to participate in spite of the risks.
3. I hereby voluntarily release, forever discharge, and agree to indemnify and hold harmless HTRX from any and all claims, demands, or causes of action, which are in any way connected with my participation in this activity or my use of HTRX's equipment or facilities, including any such claims which allege negligent acts or omissions of HTRX.
4. Should HTRX or anyone acting on their behalf, be required to incur attorney's fees and costs to enforce this agreement, I agree to indemnify and hold them harmless for all such fees and costs.
5. I certify that I have adequate insurance to cover any injury or damage I may cause or suffer while participating, or else I agree to bear the costs of such injury or damage myself. I further certify that I am willing to assume the risk of any medical or physical condition I may have.
6. In the event that I file a lawsuit against HTRX, I agree to do so solely in the state of Colorado, and I further agree that the substantive law of that state shall apply in that action without regard to the conflict of law rules of that state. I agree that if any portion of this agreement is found to be void or unenforceable, the remaining portions shall remain in full force and effect.
   
   By signing this document, I acknowledge that if anyone is hurt or property is damaged during my participation in this activity, I may be found by a court of law to have waived my right to maintain a lawsuit against HTRX on the basis of any claim from which I have released them herein. I also agree that this document is valid for subsequent visits and participation at HTRX. I have had sufficient opportunity to read this entire document. I have read and understood it, and I agree to be bound by its terms.

Telluride Helitrax Equipment use agreement and release of liability and Indemnity Agreement.

Please read Carefully before signing, this is a release of liability.

“RENTER” MEANS THE INDIVIDUAL USING THE EQUIPMENT PROVIDED BY TELLURIDE HELITRAX. I AM THE RENTER OR, IF THE RENTER IS UNDER 18, I AM THE RENTERS PARENT OR LEGAL GUARDIAN. I UNDERSTAND THAT SKIING, SNOWBOARDING, USING THE EQUIPMENT PROVIDED, TRANSPORTING EQUIPMENT IS HAZARDOUS AND PRESENTS A RISK OF PHYSICAL INJURY OR DEATH.

I EXPRESSLY ASSUME ALL RISKS ASSOCIATED WITH USING THE EQUIPMENT AND PARTICIPATING IN THE ACTIVITY, WHICH INCLUDES BUT IS NOT LIMITED TO: changing weather conditions, variations in terrain, existing and changing surface conditions, rocks, stumps, erosion, collisions, man made obstacles and the negligence of other individuals. I understand that the renter must have the physical dexterity and knowledge to safely ski or snowboard at high altitude.

I agree to accept the equipment provided AS IS with no warranties. I agree that NO MISREPRESENTATIONS HAVE BEEN MADE TO TELLURIDE HELITRAX IN REGARD TO THE RENTERS HEIGHT, WEIGHT, AGE AND/OR SKIER TYPE stated on this form. I agree that the renter understands the function of the equipment and further agrees that the binding release/retention settings appearing in the visual indicator window on the bindings correspond to the settings recorded on this form. Renter has received satisfactory answers to any questions related to user and functions of equipment. If Renter thinks equipment is not functioning properly, Renter will stop using it immediately and return to Telluride Helitrax personnel for inspection, repair, adjustment or replacement.

I UNDERSTAND THAT THE BINDING SYSTEM CANNOT GUARANTEE A RENTERS SAFETY. In downhill skiing, the binding systems will not release at all times or under circumstances where release my prevent injury or death, nor is it possible to predict every situation in which it will release. I further understand that the downhill ski binding system does not reduce the risk of any type of injury to the renter, including but not limited to knee injuries. I agree to assume and accept any and all known and unknown risks of injury to renter while using the equipment. If I am signing on the behalf of a minor, I acknowledge that 1) I have spoken to the minor renter about the activity 2) the minor understands and appreciates the risks of participating in the activity. and 3) the minor has voluntarily decided to participate in the activity.

IN CONSIDERATION FOR BEING ALLOWED TO PARTICIPATE, I AGREE TO DEFEND, INDEMNIFY, RELEASE AND NOT SUE In consideration of the services of Helitrax Inc DBA Telluride Helitrax, Telluride Resort and Spa LLC, Peaks Capital Partners LLC, The Peaks Owners Association Inc, and Mountain Blade Runner LLC, their agents, owners, officers, volunteers, employees, and all other persons or entities acting in any capacity on their behalf (hereinafter collectively referred to as TELLURIDE HELITRAX) FROM ALL LIABILITY and/or claims for injury or death persons or damage to property arising from the renters participation in the activity. INCLUDING THOSE INJURIES AND DAMAGES CAUSED BY ANY RELEASED PARTY’S ALLEGED OR ACTUAL NEGLIGENCE OR BREACH OF ANY EXPRESS OR IMPLIED WARRANTY. I take full responsibility for any injury or loss to renter, including death which renter my suffer, arising in whole or in part out of the activity. I agree to pay all costs and attorneys fees incurred by the released party in defending a claim or suit brought by or on behalf of the undersigned or as a result of the renters participation in the activity and to INDEMNIFY THE RELEASED PARTIES FOR ALL LIABILITY AND CLAIMS, INCLUDING ATTORNEYS FEES, ARISING FROM ANY MISREPRESENTATION IN OR FRAUDULENT EXECUTION OF THIS AGREEMENT.

I agree that ANY and all claims for loss, injury and/‘or death regarding al alleged incident shall BE GOVERNED BY THE LAW OF THE STATE WHERE THE ALLEGED INCIDENT OCCURRED AND EXCLUSIVE JURISDICTION SHALL BE IN THE STATE or federal court sitting in the district where the alleged incident occurred.

THE UNSIGNED AGREES TO INDEMNIFY THE RELEASE PARTIES FOR ALL LIABILITY AND CLAIMS, INCLUDING ATTORNEYS FEES, ARISING FROM ANY MISREPRESENTATIONS MADE IN THIS APPLICATION OF FRAUDULENT EXECUTION OF THIS AGREEMENT. I UNDERSTAND THIS RELEASE AND SIGN IT WITH FULL KNOWLEDGE OF ITS SIGNIFICANCE.