EFTA02570457.pdf

From: Sent: .1.111.38 PM To: 'Cecile de Jongh'; 'JEE' Cc: 'Richard Kahn' Subject: RE: AYH How about something like =his. Frank, Thank you very =uch for the documents however those provided do not address our =riginal request. To confirm I have relisted the items =elow. Thanks again for your assistance and as discussed feel free =o included any addition information you think would be useful. =ecile 1. The name of the person who led =our team at Island Global Yachting Acquisition, =TD.(IYG) 2. January 2007 Closing documents =o included the closing statement for the sale btw. MOF VI(Sun Resort =ntity) and IGY. 3. The contact information for =he seller. 3. The seller's records that were =resented to you and (IGY's)your team in your due diligence (i.e., =revious years financial statements 2003-2005 and the first 9 months of =span class=yiv7474977573tab> 2006, =eceivables, rent rolls) and any other pertinent documents that =ere used in the evaluation of the purchase. 3. The list of the Marina =pportunity Fund partners. 4. September 2007 Banco Popular =inance of $15,3 million loan documents: a. Note b. Commitment letter =o:p> c. Property Appraisal 5. Any other information =iven to your team relative to the purchase of =YH. From:=/b> =ecile de Jongh Imailto:[email protected]] Sent: =riday, May 31, 2013 4:53 AM To: JEE EFTA_R1_01738431 EFTA02570457 Cc: Jeanne =rennan; Richard Kahn Subject: Fwd: =YH We have =II of this with the exception of the Bill of =ale. I think I should =eiterate that we need the closing docs from the 1/17/07 transfer of =itle and the later closing with Banco Popular along with the appraisal. =nbsp;Also, a copy of a canceled check(s) in the amount of $25,500,000 =rom IGY-AYH Acquisitions to MOF VI. This was a private sale (no bank =nvolvement) in 1/17 but there must be a closing statement which lists =11 costs, fees etc. At the end of the day, I think the dots should roughly =how: JE investment $5,100,000 AF investment $5,100,000 Banco Loan. =15,300,000 =. =nbsp; Purchase amt. =25,500,000 JE put in about $12,750,000 (half of the =quot;value") and later, when the Banco financing was concluded, he =ot back about $7,650,000 from the proceeds. The question is, how could the bank support a =15,300,000 loan on a property that, on record (based on the last deed) =s valued at only $6 million? Jeffrey, if you are a 50% owner and signed loan docs, =e can ask the bank for the closing =nformation. Thoughts? With warm regards, 2 EFTA_R1_01738432 EFTA02570458 Cecile Sent from my iPhone Begin forwarded =essage: From: "Garrison, Frank" =lt;[email protected]> May 30, 2013, 10:50:45 PM GMT-04:00 To: Cecile de =ongh <[email protected]>Cc: "Garrison, Frank" <[email protected]> FW: =YH Cecile, See below =hich includes both the Purchase and Sale Agreement as well as the =ctual transfer documents. The transfer documents, other than the deed, =nly recite nominal consideration. I don't know what is =ustomary in the USVI but similar documents in the U.S. depending upon =urisdiction, also recite nominal consideration on their =ace. Frank Frank M. =arrison Island Capital Group LLC One American =enter 3100 West End Ave Suite =230 Nashville, TN 37203 615-783-1021 From:=/b> =ande, Mark Sent: Thursday, May 30, 2013 2:10 =M To: Garrison, Frank; Jennifer Greene Cc: Mukamal, =om Subject: RE: AYH 3 EFTA_R1_01738433 EFTA02570459  The deed is for a lesser amount - $6.1million. =/span> Bill of Sale — nominal consideration =/span> Assignment and Assumption of Material Contracts, =lip Agreements and Leases — nominal =onsideration Assignment of CZM Permits — nominal =onsideration P86 Agreement - $25.5 million — =ection 2.04 (you probably already have) This message, and any attachments hereto, is =onfidential and intended exclusively for the use of the individual or =ntity to whom it is addressed. This communication may contain =nformation that is confidential, proprietary, privileged, subject to a =onfidentiality and/or non-disclosure agreement, or otherwise exempt or =rotected from disclosure (either by contract or under applicable law). =f you are not the intended recipient, you are hereby notified that =rinting, retaining, reproducing, copying, disclosing, disseminating or =sing this message or any information contained herein (including any =eliance thereon) is strictly prohibited. If you have received this =essage in error, please contact the sender immediately and destroy the =essage (including any attachments) and any copies in their entirety, =hether in electronic or hard copy format. Nothing contained in this =-mail shall be considered a legally binding agreement, amendment or =odification of any agreement with Island Capital Group LLC or any of =ts affiliates, each of which requires a fully executed agreement to be =eceived by Island Capital Group LLC or such affiliate. =o:p> 4 EFTA_R1_01738434 EFTA02570460