From: Jeffrey E." <[email protected]>

From: Jeffrey E." <[email protected]> To: David Mitchell < > Subject: Re: Life Hotel - Rosenthal Note Date: Mon, 12 Mar 2018 19:31:37 +0000 im happy to put in a call or email, to him On Mon, Mar 12, 2018 at 8:10 PM, David Mitchell 1.1 1=> wrote: More chapters , DAVID MITCHELL Mitchell Holdings LLC Begin forwarded message: From: "Howie W. Muchnick" Date: March 12,2018 at 3:07:57 PM EDT To: "Danow, Matthew' Cc: "Amengual, Randolph" Subject: RE: Life Hotel - Rosenthal Note David Mitchell c:a Apparently, you did not believe me when I told you that Steve would not ask his friend to put at risk mom money if Steve believes that the money committed to the restaurant was insufficient to get the restaurant to break even. This is not negotiable. Steve will not go further at risk nor add risk to Russell's money by tmderfunding. If the money borrowed is not needed, it will be returned to the hotel. The amount "borrowed" by the hotel from the restaurant should not be our focus today. Assuming for the sake of argument that David's number of $91,208 is correct, we would need to borrow $128,792 now, and there is no guarantee that Russell will have an appetite for a bigger loan. Howard W. Muchnick Muchnick, Golieb & Golieb, • Attorneys at Law This transmittal is intended only for the use of the individual or entity to which it is addressed and may contain information that is privileged. confidential and exempt from disclosure under applicable law. If the reader of this transmittal is not the intended recipient or the employee or agent responsible for delivering the transmittal to the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited. If you have received this communication in error, please notify us immediately. Thank you. From: Danow, Matthew rmaa Sent: Monday, March 12, 2018 12:32 PM To: Howie W. Muchnick Cc: Amengual, Randolph ; David Mitchell Subject: Life Hotel - Rosenthal Note Importance: High Howie—Attached arc clean and marked redrafts of the Note. The changes (i) clarify that the Note will be repaid with first priority after the mortgage and preferred equity (men), and (ii) add an additional event of default if the Hotel fails to pay the restaurant $20,000 by April 15. We are keeping the principal at $50,000, because, as we discussed, per Russell's requirement, the Note is a priority over the other investors holding notes, so we do not want to increase the principal unless there is a need. To that end, David would like Steve to show the uses of the $50,000 specifying how the funds are to be applied. EFTA00859999 Also, regarding the money owed by the Hotel to the Restaurant, per David the original obligation was $91,208 (not $120,000 as we discussed). Below is a summary of David's calculation (mainly a payment for the restaurant's attorney for obtaining liquor license, which is not chargeable to the Hotel and a change order which was never enacted or funded). Please contact us if you have any questions or want to discuss. 2cid:BP130500-E055-4421-8F21-5DC3CPB682E3 Matthew Danow, Esq. Katsky Korins LLP 605 Third Avenue New York, New York 10158 Direct Dial: (7171716-131'+ Direct Fax (212) 716-3332 EFTA00860000 This e-mail and any attached tote is 'ended only for the person or entity to which rt is addressed and may contain information that is privileged. confidential or otherwise protected from disclosure. Dissemination. clestributim or copying of this e-mail or the information herein by anyone other than the intended reel ient or an employee or agent responsible for delivering the message to the intended recapient. is prohibited. If you have received this email in enc.'. please immediately notify us by calng Adam Rosenfeld at ( 1716-Vac or emote to NOTICE: Unless a contrary intent is expressly stated in this email, the contents of this email and any attachments are being transmitted for Cdscussion purposes only and shall not be deemed an offer, acceptance or rejection of any offer, nor binding upon the sender, our clients or the party on behalf of whom this email was sent. 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 pan 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 jeevacationi§gaiaLLgga and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA00860001