EFTA02647352

From: jeffrey E. <[email protected]> Sent: Saturday, June 3, 2017 8:59 PM To: David Mitchell Subject: Re: Fwd: yes, but where is the reimbursbale on the project co=ts or funding of On Sat, Jun 3, 2017 at 4:57 PM, David Mitchell =It;djm@mitch=llholdings.com <mailto:[email protected]» wrote: Footnote should r=ad in two sections somehow it got consolidated and reformatted when I sent=out First round of in=estor notes will be paid from loan modification And the reimburse=ents owed to me as of May 17 were $991,689 As it reads now i= indicates that the reimbursements were paid or to be paid from loan modif=cation DAVID MITCHELL Mitchell Holdings LLC 801 Madison Avenue New York NY 10065 USA On Jun 3, 2017, at 4:25 PM, David Mitchell <[email protected] <mailto:djm@mitche=lholdings.com» wrote: fyi, DAVID MITCHELL Mitchell Holdings LLC 801 Madison Avenue New York NY 10065 USA EFTA_R1_01885268 EFTA02647352 Begin forwarded message: From: <[email protected] <mailto:[email protected]» 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 <Life Hotel - Overview of Costs & Funding.pdf> As you know, unlike m=nths prior the bank has not released the revenues from the lockbox on inte=- month basis which has caused stress to the situation As you know for last Po weeks I personally have covered the payroll for the hotel In regards to the hotel payables I have been working with Alan to create a =trategic plan for next 7 days to see if there any emergencies As of Friday we have i=entified $16,500 at the hotel and $3800 at the resta=rant company Both which I will cove= on Monday Assuming bank release =ock box and insurance escrow on June 9 Lockbox estimate $273,=41 Insurance escrow $159,=00 Obviously this will fr=e up cash to payout current and hopefully some past expenses Current budget number =vailable to the hotel is $323,599.22 2 EFTA_R1_01885269 EFTA02647353 I also have been worki=g with Alan to plan out the use of the shortfall reserve in the loan of $2=000,000 for the hotel and rest=urant He is working with Cat=y tomorrow to verify and ascertain correct numbers and we should have a pl=n for the above on Monday DAVID MITCHELL Mitchell Holdings LLC 801 Madison Avenue New York NY 10065 USA =AO please note The information contained i= this communication is confidential, may be attorney-client privileged,=may constitute inside information, and is intended only for the use =f the addressee. It is the property of JEE Unauthorized use, disclos=re or copying of this communication or any part thereof is strictly pro=ibited and may be unlawful. If you have received this communication =n error, please notify us immediately by return e-mail or by e-mail to =a href="mailto:[email protected]" target="_blank">jeevacation@gmai=.com, and destroy this communication and all copies thereof, inc=uding all attachments. copyright -all rights reserved --001a114fbec07efcc30551148add-- conversation-id 42301 date-last-viewed 0 date-received 1496523548 flags 8590195713 gmail-label-ids 7 6 remote-id 718872 3 EFTA_R1_01885270 EFTA02647354