EFTA01786129

From: Sent: Sunday, May 15, 2011 3:14 PM To: [email protected] Subject: Re: Yes, Janusch did a thorough walk through video. I thin= he was sending it to I can't say the finishes are my taste but they are unobjectionable. What do=sn't show are the smart house systems. I am analyzing it as a $40 million =ale which I think, based on broker consensus, is achievable. I am preparing some options for you that go to security (besides mortgage) =uch as assignment of LLC interests, restrictions on new debt in the LLC, r=strictions in the operating agreement preventing bankruptcy, prohibition o= admitting new members, and the removal of Swanson as manager upon default=under any obligation. Transferring the house to a new LLC (even with ident=cal ownership) will generate doc stamps of at least $210,000 possibly more=($7,000 per million) on fair value (at least the total debt) plus $35,000 =n the new $10- Million mortgage. I am trying to figure out a way to avoid/=inimize that. Btw, assuming there is a reserve for interest on the second (up to $1.8m if=1 year), I think Swanson may still be short the cash flow he may need to c=ver his other (non 1220) obligations. But, he does have options to cover t=at, eg selling a Phipps lot. I am going to NYC on Saturday, back to PB late in week. Also, I am planning to go London around the June 9 for a long week. You around either? From: Jeffrey Epstein <[email protected]> To: paul prosperi Sent: Sun, May 15, 2011 6:49 am Did janusch photograph it.. from the brochure it looks like it needs 500k o= re do at least. 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 Jeffrey Epstein 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 [email protected] <mailto:[email protected]> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA_R1_00108726 EFTA01786129