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Park City Mountain Resort and Talisker Land Holdings Inc. late Friday afternoon extended mediation talks to Sunday at 10 a.m.

The deadline had been set at 5 p.m. Friday.

John Lund, an attorney representing Talisker, said he is "hopeful" a negotiated settlement can be reached in a land-lease dispute that has played out in court for three years.

At issue is 2,852 acres of upper mountain ski terrain at PCMR. The resort operator, Powdr Corp., missed an April 30, 2011, lease-renewal deadline. When negotiations broke down, PCMR sued Talisker, fearing eviction.

But earlier this year, 3rd District Judge Ryan Harris ruled in Talisker's favor, setting the stage for eviction.

PCMR vowed to appeal to the Utah Supreme Court and stated publicly that it owned the base acreage and facilities without which the resort could not operate.

Wednesday, Harris is expected to set a monetary value on a bond that would allow PCMR to operate during the upcoming ski season and perhaps through the legal appeal.

PCMR asked the judge to set the bond between $1.1 million and $6.6 million.

Talisker, by contrast, asked that it be set at $123.9 million. Attorneys for the landlord based that amount on an annual rent of $14.8 million from May 1, 2011, to April 30, 2015. The bond also covers damages and attorney fees.

PCMR said its annual lease fee should be between $225,000 and $1.1 million.