To: jeevacation@gmail.com[jeevacation@gmail.com]:
jeevacatio cation@gmail.com]
From:
Sent: Tue 10/4/2011 4:21:51 PM
i spoke with dan. seems a bit less anxious. he must have found some cash for his immediate crunch.
i put the 3 points to him: more protection, less risk, more upside. he wanted me to talk to his lawyer. i said i
would after they came up with some new ideas.
fyi - this is what is on table now:
on protection
second mortgage
intercreditor agreement giving holder of 2nd the right to cure anyy defaults and to buy first mortgage if it is in
default
i become a co-manager of Ilc with veto on any bankruptcy or other creditor protection moves, any new financing,
new members, and further amendments to Ilc agreement
on money terms
18% for 1 year - eamed on first day
$1,000,000 on sale
let's see...
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EFTA02012541