<table><tr><th>From:</th><th>David Mitchell</th></tr><tr><td>Sent:</td><td>Saturday, June 3, 2017 9:26 PM</td></tr><tr><td>To:</td><td>Jeffrey E.</td></tr><tr><td>Subject:</td><td>Re:</td></tr></table>

They have been as hotel was closed for three month and restart was exp=nsive , but this month of May is coming out of the hole , with an average =f 50 rooms By end of June there will be 94 rooms <=div>

This sheet (and I have tons of back up )was =o show

What is cost of project

What has been spent and what was the sourceadiv>

What is left to complete and what is the fun=ing

DAVID MITCHELL

Mitchell Holdings LLC

On Jun 3, 2017, at 5:14 PM, jeffrey E. <jeevacation@gmail.com <mailto:jeevacation@gm=il.com» wrote:

but arent they negatvie?

On Sat, Jun 3, 2017 at <u>5:13 PM,</u> David Mitchell <=pan dir="ltr">
wrote:

Operating costs are not zero ,but only when they go negative would the= show up here as this deals with cost left in project and how it is being =aid for

::::::::::::::::::::::::::::::
DAVID MITCHELL

Mitchell Holdings LLC

On Jun 3, 2017, at 5:05 PM, Jeffrey E. <jeevacation@gmail.com <mailto:jeevacation@gm=il.com»

wrote:

yes, but says operating cost remaining is zero=? . is this somehow a net number.

On Sat, Jun 3, 2017 at 5:04 PM, David Mitchell apan dir="ltr"> wrote:

The bank release funding once a month Currently there is $459,000 in the lock box which will be released on =une 9

Hotel is due to get $323,599 to cover its expenses

Key information:
*   David Mitchell
*   Mitchell Holdings LLC

On Jun 3, 2017, at 5:00 PM, Jeffrey E. <jeevacation@gmail.com <mailtojeevacation@gm=il.com» wrote:

but arent there operating costs remaining? ? <=r>

On Sat, Jun 3, 2017 at 4:59 PM, David Mitchell <=pan dir="ltr"> wrote:

Hotel is generating income and the loan modification which should clos= in next few weeks has a shortfall reserve if it is needed

This is deals with the project costs

Key entities: David Mitchell and Mitchell Holdings LLC.

On Jun 3, 2017, at 4:55 PM, Jeffrey E. <jeevacation@gmail.com

<mailto:jeevacation@gm=il.com> > wrote:

remainng?

where is either the 991or the 1.2 on the list? = , why are operating zero

On Sat, Jun 3, 2017 at 4:25 PM, <u>David</u> Mitchell <=pan dir="ltr">

Key information includes:

*   Email sent on Sat, Jun 3, 2017
*   Sender: David Mitchell
*   Recipient: Blanked out
*   Email includes information from David Mitchell of Mitchell Holdings LLC
*   Begins a forwarded message
*   The "From:" field is blanked out
*   Includes the phrase "please find the up to date information"

please find the up to date information

This does not take in account mini construction loan funding from DB t= cover the extras and the buildout of back four rooms

The request was $860,237 , which would reduce if granted the the secon= round

of investor notes by that amount

It was not included as it has not been approved

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<mailto:jeevacation@gmail.com>, and

destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved

please note

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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,

4

please note

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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

## 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