EX-25.1 12 vailex251.txt FORM T-1 Exhibit 25.1 FORM T-1 ================================================================================ SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ------------------ STATEMENT OF ELIGIBILITY UNDER THE TRUST INDENTURE ACT OF 1939 OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE ------------------ CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO SECTION 305(b)(2) _______ ------------------ THE BANK OF NEW YORK (Exact name of trustee as specified in its charter) New York 13-5160382 (State of incorporation (I.R.S. employer if not a national bank) identification no.) One Wall Street, New York, N.Y. 10286 (Address of principal executive offices) (Zip Code) ------------------ Vail Resorts, Inc. (Exact name of each obligor as specified in its charter) Delaware 51-0291762 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ -2- Beaver Creek Associates, Inc. (Exact name of each obligor as specified in its charter) Colorado 84-0677537 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Beaver Creek Consultants, Inc. (Exact name of each obligor as specified in its charter) Colorado 84-0760348 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Beaver Creek Food Services, Inc. (Exact name of each obligor as specified in its charter) Colorado 84-0815288 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Breckenridge Resort Properties, Inc. (Exact name of each obligor as specified in its charter) Colorado N/A (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Complete Telecommunications, Inc. (Exact name of each obligor as specified in its charter) Colorado 84-1533678 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) -3- ------------------ GHTV, Inc. (Exact name of each obligor as specified in its charter) Delaware 39-1284459 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Gillett Broadcasting, Inc. (Exact name of each obligor as specified in its charter) Delaware 37-0920781 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Grand Teton Lodge Company (Exact name of each obligor as specified in its charter) Wyoming 83-0161154 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Jackson Hole Golf and Tennis Club, Inc. (Exact name of each obligor as specified in its charter) Wyoming N/A (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ -4- JHL&S LLC (Exact name of each obligor as specified in its charter) Wyoming 83-0332983 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Keystone Conference Services, Inc. (Exact name of each obligor as specified in its charter) Colorado 84-1075280 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Keystone Development Sales, Inc. (Exact name of each obligor as specified in its charter) Colorado 43-1463384 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Keystone Food and Beverage Company (Exact name of each obligor as specified in its charter) Colorado 84-0678950 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Keystone Resort Property Management Company (Exact name of each obligor as specified in its charter) Colorado 84-0705922 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) -5- ------------------ Larkspur Restaurant & Bar, LLC (Exact name of each obligor as specified in its charter) Colorado 84-1510919 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Lodge Properties, Inc. (Exact name of each obligor as specified in its charter) Colorado 84-0607010 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Lodge Realty, Inc. (Exact name of each obligor as specified in its charter) Colorado 13-3051423 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Property Management Acquisition Corp., Inc. (Exact name of each obligor as specified in its charter) Tennessee 62-1634422 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ -6- Rockresorts Casa Madrona, LLC (Exact name of each obligor as specified in its charter) Delaware 84-1606603 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Rockresorts Cheeca, LLC (Exact name of each obligor as specified in its charter) Delaware 84-1606605 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Rockresorts Equinox, Inc. (Exact name of each obligor as specified in its charter) Vermont 06-1634157 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Rockresorts International, LLC (Exact name of each obligor as specified in its charter) Delaware 84-1606606 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Rockresorts LaPosada, LLC (Exact name of each obligor as specified in its charter) Delaware 84-1606604 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) -7- ------------------ Rockresorts LLC (Exact name of each obligor as specified in its charter) Delaware 75-2829919 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Rockresorts Rosario, LLC (Exact name of each obligor as specified in its charter) Delaware 84-1606602 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Teton Hospitality LLC (Exact name of each obligor as specified in its charter) Wyoming 83-0332997 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Teton Hospitality Services, Inc. (Exact name of each obligor as specified in its charter) Wyoming 83-0332998 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ -8- The Vail Corporation (Exact name of each obligor as specified in its charter) Colorado 84-0601461 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ The Village at Breckenridge Acquisition Corp., Inc. (Exact name of each obligor as specified in its charter) Tennessee 62-1633660 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Vail Associates Consultants, Inc. (Exact name of each obligor as specified in its charter) Colorado 84-0738502 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Vail Associated Holdings, Ltd. (Exact name of each obligor as specified in its charter) Colorado 84-1214955 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Vail Associates Management Company (Exact name of each obligor as specified in its charter) Colorado 84-1248614 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) -9- ------------------ Vail Associates Real Estate, Inc. (Exact name of each obligor as specified in its charter) Colorado 84-1013094 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Vail Food Services, Inc. (Exact name of each obligor as specified in its charter) Colorado 84-0596378 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Vail Holdings, Inc. (Exact name of each obligor as specified in its charter) Colorado 84-0568230 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Vail Resorts Development Company (Exact name of each obligor as specified in its charter) Colorado 84-1242948 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ -10- Vail Summit Resorts, Inc. (Exact name of each obligor as specified in its charter) Colorado 43-1273996 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Vail Trademarks, Inc. (Exact name of each obligor as specified in its charter) Colorado 84-1253320 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Vail/Arrowhead, Inc. (Exact name of each obligor as specified in its charter) Colorado 84-1253319 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Vail/Battle Mountain, Inc. (Exact name of each obligor as specified in its charter) Colorado 84-1146997 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Vail/Beaver Creek Resort Properties, Inc. (Exact name of each obligor as specified in its charter) Colorado 52-1479879 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) -11- ------------------ VAMHC, Inc. (Exact name of each obligor as specified in its charter) Colorado N/A (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ Vail RR, Inc. (Exact name of each obligor as specified in its charter) Colorado 84-1606210 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ VA Rancho Mirage I, Inc. (Exact name of each obligor as specified in its charter) Colorado 84-1606209 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ VA Rancho Mirage II, Inc. (Exact name of each obligor as specified in its charter) Colorado 84-1606208 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) ------------------ -12- VA Rancho Mirage Resort, L.P. (Exact name of each obligor as specified in its charter) Delaware 78-2578150 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 137 Benchmark Road 81620 Avon, Colorado (Zip Code) (970) 845-2500 (Address and telephone number of obligor's principal executive offices) ------------------ 8 3/4% Senior Subordinated Notes due 2009 (Title of the indenture securities) ================================================================================ -13- 1. General information. Furnish the following information as to the Trustee: (a) Name and address of each examining or supervising authority to which it is subject. --------------------------------------------- ---------------------------------- Name Address --------------------------------------------- ---------------------------------- Superintendent of Banks of the 2 Rector Street, State of New York New York, N.Y. 10006, and Albany, N.Y. 12203 Federal Reserve Bank of New York 33 Liberty Plaza, New York, N.Y. 10045 Federal Deposit Insurance Corporation Washington, D.C. 20429 New York Clearing House Association New York, New York 10005 (b) Whether it is authorized to exercise corporate trust powers. Yes. 2. Affiliations with the Obligor. If the obligor is an affiliate of the trustee, describe each such affiliation. None 16. List of Exhibits. Exhibits identified in parentheses below, on file with the Commission, are incorporated herein by reference as an exhibit hereto, pursuant to Rule 7a-29 under the Trust Indenture Act of 1939 and rule 24 of the Commission's Rules of Practice. 1. A copy of the Organization Certificate of The Bank of New York (formerly Irving Trust Company) as now in effect, which contains the authority to commence business and a grant of powers to exercise corporate trust powers. (Exhibit 1 to Amendment No. 1 to Form T-1, filed with Registration Statement No. 33-6215, Exhibits 1a and 1b to Form T-1 filed with Registration Statement No. 33-21672 and Exhibit 1 to Form T-1 filed with Registration Statement No. 33-29637.) -14- 4. A copy of the existing By-Laws of the Trustee. (Exhibit 4 to Form T-1 filed with Registration Statement No. 33-31019). 6. The consent of the Trustee required by Section 321(b) of the Act. (Exhibit 6 to Form T-1 filed with Registration Statement No. 33-44051.) 7. A copy of the latest report of condition of the Trustee published pursuant to law or to the requirements of its supervising or examining authority. SIGNATURE Pursuant to the requirements of the Trust Indenture Act of 1939, the Trustee, The Bank of New York, a corporation organized and existing under the laws of the State of New York, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of New York, and State of New York, on the 15th day of January, 2002. THE BANK OF NEW YORK By: /s/Cynthia Chaney ----------------------------------- Cynthia Chaney Authorized Signer Attorney-in-Fact CC/pg (rev:kk) EXHIBIT 7 -------------------------------------------------------------------------------- Consolidated Report of Condition of THE BANK OF NEW YORK of One Wall Street, New York, N.Y. 10286 And Foreign and Domestic Subsidiaries, a member of the Federal Reserve System, at the close of business September 30, 2001, published in accordance with a call made by the Federal Reserve Bank of this District pursuant to the provisions of the Federal Reserve Act. Dollar Amounts in Thousands ASSETS Cash and balances due from depository institutions: Noninterest-bearing balances and $3,238,092 currency and coin............................... Interest-bearing balances............................ 5,255,952 Securities: Held-to-maturity securities.......................... 127,193 Available-for-sale securities........................ 12,143,488 Federal funds sold and Securities purchased under agreements to resell............ 281,677 Loans and lease financing receivables: Loans and leases held for sale................... 786 Loans and leases, net of unearned income..................................... 46,206,726 LESS: Allowance for loan and lease losses............................... 607,115 Loans and leases, net of unearned income and allowance....................... 45,599,611 Trading Assets....................................... 9,074,924 Premises and fixed assets (including capitalized leases)............................. 783,165 Other real estate owned.............................. 935 Investments in unconsolidated subsidiaries and associated companies........... 200,944 subsidiaries and associated companies................ -16- Customers' liability to this bank on 311,521 acceptances outstanding......................... Intangible assets............................... Goodwill........................................ 1,546,125 Other intangible assets.............................. 8,497 Other assets......................................... 8,761,129 ---------- Total assets......................................... $87,334,039 ========== LIABILITIES Deposits: In domestic offices............................. $28,254,986 Noninterest-bearing............................. 10,843,829 Interest-bearing................................ 17,411,157 In foreign offices, Edge and Agreement subsidiaries, and IBFs..................... 31,999,406 Noninterest-bearing............................. 1,006,193 Interest-bearing................................ 30,993,213 Federal funds purchased and securities sold under agreements to repurchase............. 6,004,678 Trading liabilities.................................. 2,286,940 Other borrowed money: (includes mortgage indebtedness and obligations under capitalized leaes)............ 1,845,865 Bank's liability on acceptances executed and outstanding................................. 440,362 Subordinated notes and debentures.................... 2,196,000 Other liabilities.................................... 7,607,267 ---------- Total liabilities.................................... $80,635,504 ========== EQUITY CAPITAL Common stock......................................... 1,135,284 Surplus.............................................. 1,050,729 Retained earnings.................................... 4,436,230 Accumulated other comprehensive income.......................................... 76,292 Other equity capital components...................... 0 -------------------------------------------------------------------------------- Total equity capital................................. 6,698,535 ---------- Total liabilities and equity capital................. $87,334,039 ========== -17- I, Thomas J. Mastro, Senior Vice President and Comptroller of the above-named bank do hereby declare that this Report of Condition has been prepared in conformance with the instructions issued by the Board of Governors of the Federal Reserve System and is true to the best of my knowledge and belief. Thomas J. Mastro, Senior Vice President and Comptroller We, the undersigned directors, attest to the correctness of this Report of Condition and declare that it has been examined by us and to the best of our knowledge and belief has been prepared in conformance with the instructions issued by the Board of Governors of the Federal Reserve System and is true and correct. Thomas A. Renyi Gerald L. Hassell Directors Alan R. Griffith