MEMO TO:               RHBAA MEMBERS

RE:                             CELEBRATION ARENA

In a continuing effort to keep the membership informed, here is the latest Celebration Arena update:

On May 31^st (as everyone already knows), RHBAA leased the arena to the new buyer so that he could begin management and start his proposed improvements. 

In early July, the buyer became delinquent on certain expenses that the lease required him to pay.  As a result, our attorney sent a formal default notice to the buyer and his representatives giving him until July 31st to correct those default amounts or risk termination of the lease as well as possible termination of the sales contract.

On August 1^st, when the default still had not been resolved, the Board of Directors chose to terminate the sales contract and had our attorney send notice of that termination to the buyer’s legal representative.

We are now managing the property again ourselves, with events booked for every weekend in August.

As you know, we are also very busy preparing for our 37^th annual World Celebration in September.  I hope to see you all there next month.

Please be assured that we will keep the membership posted on any new developments on this issue.

Ed Hiers

President, RHBAA