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Park City Mountain Resort and its landlord, Talisker Land Holdings, in conjunction with Vail Resorts Inc., announced Monday morning they have been unable to reach a lease agreement as of Sunday — the deadline for mediation negotiations.

The parties jointly asked 3rd District Judge Ryan Harris to extend the talks through 5 p.m. Friday.

In a statement issued Monday afternoon, Talisker/Vail said they "are completely committed to finding a resolution to this dispute that is in the best interests of all the parties and the Park City community... As such, we appreciate continuing to be in the court-ordered mediation process and we remain optimistic that the parties can come together and bring closure to the disruption caused by the litigation."

In a separate public statement, Jenni Smith, PCMR president and manager, said her team will continue to negotiate with Talisker/Vail.

"Only PCMR will be able to operate the resort for the upcoming 2014/15 season, unless a long-term solution is reached immediately," she said. "Our goal is, and has always been, to keep the resort open for the 2014/15 season."

PCMR and Talisker/Vail also are scheduled to appear in Harris' Park City court Wednesday to establish a bond amount that would allow PCMR to continue to operate the ski resort until an agreement is reached or litigation is exhausted.

The corporations have been at odds since PCMR missed an April 30, 2011, lease extension deadline for 2,852 acres of ski terrain. Fearing eviction, PCMR filed suit later that year and litigation has been ongoing.

Talisker leases the nearby Canyons Resort to Vail for $25 million a year. The lease includes the potential to operate PCMR if Talisker/Vail prevail in court.

Earlier this year, Harris ruled in favor of Talisker on key elements of the case, setting the stage for an eviction. PCMR vowed to appeal to the Utah Supreme Court.

PCMR owns the base acreage and facilities that it says are key to operating the resort.

If a bond agreement is reached, PCMR would run the resort through the upcoming ski season.

The uncertainty over the resort's future has been the source of much anxiety in Park City and west Summit County, where thousands of jobs and a big share of government revenue depends on tourism.