Rules

The Vail Academy Home Raffle Official Rules & Regulations

The Vail Academy, a tax exempt organization under Section 501(c)(3) of the Internal Revenue Code, is conducting this raffle. The following rules covering and regulating The Vail Academy Home/Cash Raffle are enacted pursuant to section 12-9-101 et seq., C.R.S., and Article XVIII, section 2 of the Colorado Constitution. By purchasing a raffle ticket the purchaser agrees to be bound by these rules and regulations.
1. There shall be one Grand Prize awarded in The Vail Academy Home Raffle. The Grand Prize shall be the east side of the duplex located at 1673 (East Side) Matterhorn Circle, Vail, Colorado 81657, a.k.a. Lot 20 B, Matterhorn Village, Vail, Colorado, or, if winner so chooses, $850,000.00 in cash. The fair market value of the Grand Prize home is estimated at $1,200,000. The Grand Prize winner shall provide their selection of the grand prize in writing within 10 days of being notified of winning.
2. The price per chance, as evidenced by a Raffle ticket (each, a Ticket) is as follows; $50.00 for one (1) ticket, $135 for three (3) tickets purchased together, $220 for five (5) tickets purchased together, $400 for ten (10) tickets purchased together, payable by the following means:
a. Check made payable to The Vail Academy or TVA and accompanied by an official order form found at www.winavailhome.com and mailed to:
The Vail Academy Home Raffle
P.O. Box 1980
Avon, CO 81620
b. By submitting the official purchase order form electronically at www.winavailhome.com
All purchases of raffle tickets are non-refundable.
3. BY ENTERING THIS RAFFLE, ENTRANTS ACCEPT AND AGREE (1) TO BE BOUND BY ALL THE RULES, LIMITATIONS AND RESTRICTIONS SET FORTH HEREIN AND (2) THAT THEIR NAMES AND/OR LIKENESSES MAY BE DISCLOSED TO AND USED BY THE NEWS MEDIA AND MAY OTHERWISE BE USED BY THE VAIL ACADEMY FOR PUBLICITY PURPOSES AND MAY BE PUBLISHED IN REGIONAL NEWSPAPERS AND ANNOUNCED ON THE VAIL ACADEMY RAFFLE WEBSITE. OTHER RULES AND REGULATIONS MAY APPLY. PLEASE CONTACT THE VAIL ACADEMY AT P.O. BOX 1980, AVON, IF YOU HAVE QUESTIONS. THE VAIL ACADEMY'S INTERPRETATION AND APPLICATION OF THE RULES AND REGULATIONS SHALL BE FINAL.
4. Tickets will be distributed and Ticket stubs will be collected in the order that purchase price is received. Checks and credit card purchases will be deposited upon receipt. Checks that are returned for insufficient funds or other reasons, or credit card purchases that are denied shall disqualify the Ticket.
5. Ticket purchase confirmations shall be e-mailed to each entry purchaser within 14 days of purchase to the billing address provided during purchase. It is the purchasers sole responsibility to provide a valid, deliverable email address. Purchaser may request in writing that the confirmation be mailed via U.S Postal Service.
6. All entries must be received by 11:59:59 (MT) on Tuesday, September 14, 2010, to be eligible for the Grand Prize drawing. The Grand Prize drawing will be held on Friday, September 24, 2010 at 6:00 p.m. (MT) at The Vail Academy, 39209 US Hwy. 6, Avon, CO 81620.
7. A minimum of 40,000 tickets must be sold in order for the Grand Prize home to be awarded. The odds of winning the Grand Prize offered will be 1 divided by the number of Raffle Tickets actually sold, subject to the conditions stated below. If the above minimum is not reached, the Raffle Grand Prize shall be a cash prize, awarded as listed below:
a. If 30,000 to 39,999 tickets are sold, the cash grand prize shall be $500,000;
b. If 20,000 to 29,999 tickets are sold, the cash grand prize shall be $250,000;
c. If 11,000 to 19,999 tickets are sold, the cash grand prize shall be $100,000;
d. If 8,000 to 10,999 tickets are sold, the cash grand prize shall be $75,000;
e. If 5,000 to 7,999 tickets are sold, the cash grand prize shall be $50,000;
f. If 2,500 to 4,999 tickets are sold, the cash grand prize shall be $25,000;
g. If 1 to 2,499 tickets are sold, the cash grand prize shall be $10,000.
8. A maximum of 75,000 tickets will be sold. The chances of winning are based on that number. If fewer tickets are sold, the odds of winning improve.
9. Winner(s) must claim and accept ownership of the prize(s) within 45 days of the date of the drawing or forfeit the prize, and a new winner will be selected. The winner of the Grand Prize must go to settlement on the property within sixty (60) days of the Raffle drawing date. The Vail Academy shall convey the property to the Grand Prize winner warranty deed free and clear of all liens, encumbrances and easements and restrictions of record and which is not in violation of any applicable zoning laws and regulations. Closing services will be provided by Land Title Company and the Grand Prize winner shall be responsible for all costs associated with the closing.
10. The winner of the Grand Prize shall be responsible for any and all real property taxes and assessments that accrue after the date of closing, and all federal, state and local income taxes associated with the receipt of the prize by the winner for tax purposes of income equal to the fair market value of the Grand Prize. The Grand Prize winner shall take the real property in as is, where-is condition. The Grand Prize winner acknowledge that government authorities may place a different value on the home than The Vail Academy placed on the homes in determining any income, property, transfer, or other taxes or fees that may be attributable to the home.
THE VAIL ACADEMY DOES NOT MAKE OR PROVIDE ANY REPRESENTATION, GUARANTEE OR WARRANTY, EXPRESSED OR IMPLIED, IN CONNECTION WITH THE HOUSE AND ACCEPTS NO LIABILITY OR RESPONSIBILITY REGARDING THE CONSTRUCTION OR CONDITION OF THE HOUSE. THE VAIL ACADEMY DOES NOT WARRANT THAT THE HOUSE IS OF MERCANTILE QUALITY OR THAT IT CAN BE USED FOR ANY PARTICULAR PURPOSE. NO EXPRESS WARRANTIES ARE GIVEN AND NO AFFIRMATION OF THE VAIL ACADEMY BY WORDS AND/OR ACTIONS WILL CONSTITUTE A WARRANTY.
11. The individual ticket price is not deductible for income tax purposes as a charitable deduction. The IRS takes the position that amounts paid for chances to participate in raffles, lotteries or similar programs are not gifts and, therefore, the price of the entry does not qualify as a deductible charitable contribution.
12. Individual ticket purchases shall be included in at least six monthly Early Bird Drawings:
a. Tickets purchased on or before 11:59:59 pm, Mountain Time, on the third Tuesday of each month, from March, 2010 through August, 2010 shall be eligible for each $5,000 Early-Bird Drawing to be held on the third Friday of each month from March, 2010 through August, 2010 at 12:00pm at 511 Lionshead Mall, Vail, Colorado 81657. First prize shall be $3000; second prize shall be $1000; third prize shall be $750; fourth prize shall be $250. A minimum number of 700 tickets must be sold each month in order for these drawings to occur and the corresponding prize to be awarded.
b. Additional Early Bird Drawings may be added upon approval by The Vail Academy and the office of the Colorado Secretary of State. 13. Refer-A-Friend Drawing: For every person who purchases a ticket and refers a friend who purchases a ticket, one entry shall be entered into the $5000 Refer-A-Friend Drawing. First prize shall be $3,000; second prize shall be $1000, and third prize shall be $750; fourth prize shall be $250. Referral information must be confirmed by both the referring party and the referred party. Referral information must be entered through the online shopping cart or on the mail-in/fax-in raffle entry form. If multiple individuals refer the same person who purchases a ticket or tickets, the earliest referral and corresponding purchase of tickets shall take precedent. For each referred individual who purchases a ticket or tickets there shall be one entry into the Refer-A-Friend Drawing for each ticket purchased by the referred party. The Refer-A-Friend Drawing shall be conducted on the same date as the Grand Prize Drawing. A minimum of 20,000 tickets must be sold for the Refer-a-Friend drawing to be conducted.
14. Multi-Ticket Drawing: Each entrant who purchases more than one raffle ticket shall be entered into the $5000 Multi-Ticket Drawing. First prize shall be $3000; second prize shall be $1000; third prize shall be $750; fourth prize shall be $250. Each entrant shall receive one entry in the Multi-Ticket Drawing for each ticket purchased. For example, if the purchaser chooses to purchase 10 tickets, they will receive 10 entries into the Multi-Ticket Drawing. The Multi-Ticket Drawing shall be conducted on the same date as the Grand Prize Drawing. A minimum of 20,000 tickets must be sold for the Multi-Ticket Drawing to be conducted.
15. Winners need not be present to win.
16. All prize winners shall be notified by phone and/or e-mail, and certified mail within 14 days of each drawing.
17. Participants must be 18 or older to enter the raffle and be eligible for prizes.
18. The date of the Grand Prize drawing, the Multi-Ticket Drawing, and the Refer-A-Friend drawing may be postponed solely with the approval of the office of the Colorado Secretary of State. However, all drawings shall occur on or before December 31, 2010.
19. Each prize is subject to, and each prize winner is fully responsible for, any and all federal, state and local income or excise taxes, fees, assessments and like charges associated with the prize. The Vail Academy and all contracted marketing companies have no responsibility for the payment of any taxes or fees associated with the prize. At the time of the this printing, federal law requires that corresponding tax withholding on prize values of $5,100 or greater must be collected from winners upon award and distribution. The current withholding rate is twenty-five percent (25%), and the Grand Prize winner would be obligated to pay to The Vail Academy the equivalent of 25% of the fair market value of the Grand Prize for withholding purposes. Please consult your tax advisor for any questions.
20. Each winner, as a condition to being eligible to receive a prize, must sign and deliver to The Vail Academy, if requested: (a) a sworn affidavit of eligibility under these Rules and applicable law; (b) any information required by applicable law, including Social Security Number; (c) satisfactory proof the winner is 18 or older and is the person named on the winning entry; and (d) a publicity release.
21. The Vail Academy reserves the right to reject any entry that is submitted with payment that does not constitute â€œgood funds. All defective or physically altered entries will be immediately disqualified by The Vail Academy. Prior to the Grand Prize drawing, The Vail Academy or it's representatives will make a reasonable effort to notify the individual and/or organization that submits a defective entry or one which has been rejected because the payment did not clear that the entry has been rejected. The Vail Academy or its representatives shall attempt to make contact through the information provided at the time of the purchase request.
22. Only one (1) person or organization may be identified as the purchaser of a Ticket. Title to the prizes shall be in the name on the Raffle Ticket stub. Tickets are not transferable or assignable. Prizes are also not transferable or assignable. Division of a prize by a group purchasing a ticket in common shall be the sole responsibility of the person or organization named as the holder of record of that ticket, should that ticket be selected as a winner.
23. The Raffle is subject to all applicable federal, state, and local laws and regulations, and is void wherever prohibited or restricted by law.
24. Net proceeds of the Raffle are solely for the benefit of The Vail Academy, which is a 501(c) 3 non-profit organization registered with the Secretary of State of Colorado.
25. You may obtain raffle registration information as well as raffle report data, from the Colorado Secretary of State's office. Copies of The Vail Academy raffle registration and raffle report are also available upon request from The Vail Academy.
26. Ticket purchasers, by participating (and winners, by accepting a prize) release The Vail Academy, and it's respective Board of Directors, committee members, volunteers, partners, employees, vendors, agents, representatives, sponsors, service agencies and independent contractors, and each of their respective directors, officers, partners, employees and agents, including advertising, public relations, direct marketing and promotion agencies, from any and all liability with respect to participation in the promotion and possession or use of the prize(s) awarded and also acknowledge that they did not receive any representations, warranty or guarantee, express or implied, in fact or in law, relative to any prize, including but not limited to its quality, mechanical condition or fitness. Any liability of The Vail Academy shall be limited to Ticket price paid and in the case of any dispute, the decision of The Vail Academy shall be final.
ANY CONTROVERSY OR CLAIM ARISING OUT OF OR RELATING TO THE CONTRACT, OR THE BREACH THEREOF, SHALL BE SETTLED BY BINDING ARBITRATION ADMINISTERED BY THE AMERICAN ARBITRATION ASSOCIATION (PURSUANT TO ITS EXPEDITED PROCEDURES) UNDER ITS COMMERCIAL ARBITRATION RULES, AND JUDGMENT ON THE AWARD RENDERED BY THE ARBITRATOR MAY BE ENTERED IN THE SUPERIOR COURT FOR THE COUNTY OF EAGLE, COLORADO, WHICH SHALL HAVE EXCLUSIVE JURISDICTION THEREOF.