<table><tr><th>From:</th><th>Richard Kahn e</th></tr><tr><td>Sent:
To:</td><td>Thursday, May 3, 2018 1:06 PM
Jeffrey E.</td></tr><tr><td>Subject:</td><td>Fwd: Two snapshots</td></tr></table>

should i meet with david or do you prefer i do a call or we =11 meet next week?

Richard Kahn
HBRK Associates Inc.
575 =exington Avenue 4th Floor
New York, NY 10022
██████████████

Begin forwarded message:

From: =/b>David Mitchell

Subject: =/b>Re: Two =napshots

Date: =/b>May 3, 2018 at 8:52:21AM =DT

To: =/b>Richard Kahn

let's sit tomorrow so I can take you through this What time works for you

## DAVID MITCHELL

Mitchell Holdings LLC
745 Fifth Avenue
New York NY 10151
USA

On May 3, 2018, at 8:49 AM, Richard Kahn > wrote:

## DAVID MITCHELL (cont.)

can you also explain how loan went from 25mm to 31.8mm who is holder of notes payable?

is my understanding correct that under sales scenario of =6mm our investment return is $0? please advise thanks

Richard Kahn
HBRK Associates Inc.
575 Lexington Avenue 4th Floor
New York, NY 10022

On May 3, 2018, at 8:35 AM, Richard Kahn <██████████████████> wrote:

please send entire projection including construction costs previous budgets were 2 pages and this does not tell me =uch thank you

Richard Kahn
HBRK Associates Inc.
575 Lexington Avenue 4th Floor
New York, NY 10022

On May 3, 2018, at 5:47 AM, David Mitchell wrote:

Please find two cases, Obviously I would like to exceed these but the market =as considerable weakness since

the investment

## DAVID MITCHELL (cont.)

Email details:
*   From: Richard Kahn
*   To: David Mitchell
*   Cc: Doug Arnaudin
*   Date: May 2, 2018 at 3:56:41 PM EDT
*   Subject: Re: The Park Mansion - 9.7.16 (=REVISED).pdf

david please send as promised as i been asking now for 4 =eeks i do not care how ugly they look however i want to see =umbers...

Richard Kahn
HBRK Associates Inc.
575 Lexington Avenue 4th Floor
New York, NY 10022
██████████████

On May 1, 2018, at 9:51 AM, Richard Kahn <██████████████████> wrote:

projections?

Richard Kahn
HBRK Associates Inc.
575 Lexington Avenue 4th Floor
New York, NY 10022
██████████

On Apr 26, 2018, at 11:52 AM, David Mitchell <█████████████████████████████████████

wrote:

Apologize will get it to you

## DAVID MITCHELL (cont.)

DAVID MITCHELL

Mitchell Holdings LLC
745 Fifth Avenue
New York NY 10151
USA

On Apr 26, 2018, at 11:45 AM, Richard Kahn st

wrote:

david it has been 3 weeks since i asked for a 2 page =ash flow projection for

82nd street

please send
thank you

Richard Kahn
HBRK Associates Inc.
575 Lexington Avenue 4th Floor
New York, NY 10022

On Apr 6, 2018, at 1:04 PM, Richard Kahn < wrote:

last version was 1.5 =ears ago - nothing updated since?

Richard Kahn
HBRK Associates Inc.
575 Lexington Avenue 4th Floor
New York, NY 10022

## DAVID MITCHELL (cont.)

On Apr 6, 2018, at 12:58 PM, David Mitchell

wrote:

will do this weekend

DAVID MITCHELL

Mitchell Holdings LLC
745 Fifth Avenue
New York NY 10151
USA

On Apr 6, 2018, at 12:37 PM, Richard Kahn <richardkahn12@gmail.com> wrote:

can you please forward your latest =rojection updated realistic sales prices and

final costs..

thank you

Richard Kahn
HBRK Associates Inc.
575 Lexington Avenue 4th Floor
New York, NY 10022

On Apr 3, 2018, at =:37 PM, Richard Kahn > =rote:

has your =rojection been updated since the last one i received? and with new

=ales prices..

## DAVID MITCHELL (cont.)

can you please =end - thanks

Richard =ahn

HBRK Associates =nc.

575 Lexington =venue 4th Floor

New York, NY =0022

- Image content: solid black square; no visible chart, text, or legend.
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- Surrounding/context text: "New York, NY =0022" and "<The Park =ansion - 9.7.16 (REVISED).pdf>"

<The Park =ansion - 9.7.16 (REVISED).pdf>

## DAVID MITCHELL (cont.)

Richard =ahn

HBRK Associates =nc.

575 Lexington =venue, 4th Floor

New York, NY =0022

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<The Park Mansion - 5.2.18 (Best Case).pdf>

<The Park Mansion - 5.2.18 (Worst Case).pdf>