Extension of Sanction Agreement between National Hot Rod Association and The Colonel's Brainerd International Raceway, Inc.
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Summary
This letter, dated April 19, 2002, from the National Hot Rod Association (NHRA) to The Colonel's Brainerd International Raceway, Inc., confirms NHRA's decision to extend their existing Sanction Agreement for an additional three years, now set to expire on December 31, 2005. The extension is made under the terms of the original agreement signed on March 9, 1999. Both parties are expected to continue their business relationship under the same terms as previously agreed.
EX-10.5 5 k74382exv10w5.txt EXTENSION OF SANCTION AGREEMENT EXHIBIT 10.5 April 19, 2002 BY FEDERAL EXPRESS Donald J. Williamson c/o The Colonel's Brainerd International Raceway, Inc. 5550 Occidental Highway Tecumseh, Michigan 49286 Ted M. Gans, PC 100 west Long Lake, Suite 200 Bloomfield Hills, Michigan 48304 Gentlemen: Pursuant to Section 3 of the Sanction Agreement dated March 9, 1999 by and between The Colonel's Brainerd International Raceway, Inc. and National Hot Rod Association, as amended (collectively the "Agreement"), we write to exercise NHRA's option to extend the term of the Agreement for one additional three-year term, which additional term will expire on December 31, 2005. We look forward to continuing to work with you. Sincerely, Peter Clifford Senior Vice President, Business Operations and Chief Financial Officer 1
