<table><tr><th>From:</th><th>Stephen Hanson</th></tr><tr><td>Sent:</td><td>Tuesday, February 24, 2015 3:24 PM</td></tr><tr><td>To:</td><td>jeffrey E.</td></tr><tr><td>Subject:</td><td>Re: Fwd:</td></tr></table>

Hotel. What's the plan. Keep and run it or net lease. Net lease could be ok. Coupon - as long no reps are made as to the DOB status

-- to run it. Could get stuck and a great cost to bring it up to code GH. Could be a home run. Could be a daily capital call

Sent from my iPad

On Feb 24, 2015, at 9:03 AM, jeffrey E. <jeevacation@gmaitcom <mailto:jeevacation@gmail.com» wrote:

Forwarded message
From: David Mitchell
Date: Tuesday, February 24, 2015
Subject:
To: "jeffrey E." <jeevacation@gmail.com <mailto:jeevacation@gmail.com> >

Hotel, went hard on Friday hope to close in next 45 days

Raising 12 mil

I have around 6 from 1031investors love to have you in it

It will payout 6 percent in sheltered income

I am thinking investors get 100 percent back until all the capital has been returned plus 8 percent interest per year Thereafter a 50/50 split

Gracious should close in the middle of March Raising 4.5 mil Of which a minimum of 1 mil will come from myself and Dottie (most likely it will be 1.5) Would like to split profits after the capital has been returned plus a 10 percent per annum return

I have presentations on both but I am not sure you will look at them

cantor meeting is now march 4th

David Mitchell
MITCHELL HOLDINGS LLC

gracious , hotel.? status?

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please note

The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE

Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com <mailto:jeevacation@gmail.com> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved