<table><tr><th>From:</th><th>David Mitchell</th></tr><tr><td>Sent:</td><td>Wednesday, March 4, 2015 2:51 PM</td></tr><tr><td>To:</td><td>Jeffrey E.</td></tr><tr><td>Subject:</td><td>Re: Life Hotel - 3.3.15</td></tr></table>

No commissions , ever,just Saftey net for renovations

David Mitchell
MITCHELL HOLDINGS LLC

On Mar 4, 2015, at 9:49 AM, "jeffrey E." <jeevacation@gmail.com <mailto:je=vacation@gmail.com> > wrote:

is this a commision that you are taking?

On Tue, Mar 3, 2015 at 9:49 PM, David Mitchell <=pan dir="ltr">  > wrote:

This is a one page view of the Hotel=after a one year stabilization . I have also included the first year as we=l . Please blow it u= to 200% so you can see it .

I circled some of the numbers we spoke about . I wanted you to have this=as I added $1,000,000 to the transaction value of the project , I had not =entioned that when we spoke.

DAVID MITCHELL
Mitchell=Holdings LLC
801 MADI=ON AVENUE
New York=nbsp; NY 10065
USA

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