Document:

Exhibit 10.35

 

AMENDMENT

TO

AGREEMENT FOR INVENTORY FINANCING

 

 

This
Amendment (“Amendment”) to the Agreement for 
Inventory Financing is made as of May 7, 2003 by and between En Pointe
Technologies Sales, Inc., duly organized under the laws of the State
of Delaware (“Customer”) and IBM Credit LLC, a Delaware limited
liability company, formerly IBM Credit Corporation, (“IBM Credit”).

 

RECITALS:

 

A.            Customer and
IBM Credit have entered into that certain Agreement for Inventory Financing
(“AIF”) dated as of December 28, 2001 (as amended, supplemented or otherwise
modified from time to time, the “Agreement”);

 

B.            Customer has
requested and IBM Credit agrees to 
revise financial covenants;

 

C.            The parties
have agreed to modify the Agreement as more specifically set forth below, upon
and subject to the terms and conditions set forth herein.

 

AGREEMENT

 

NOW THEREFORE, in
consideration of the premises and other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, Customer and IBM
Credit hereby agree as follows:

 

Section 1.              Definitions.           All capitalized
terms not otherwise defined herein shall have the respective meanings set forth
in the Agreement.

 

Section 2.              Amendment.         The Agreement is
hereby amended as follows:

 

Attachment
A to the Inventory and Working Capital Financing Agreement is hereby amended by
deleting such Attachment A in its entirety and substituting, in lieu thereof,
the Attachment A attached hereto.  Such
new Attachment A shall be effective as of the date specified in the new
Attachment A.  The changes contained in
the new Attachment A include, without limitation, the following:

 

(A)          The Credit Line is decreased from
Twenty Million and 00/100 Dollars ($20.000,000.00) to Sixteen Million and
00/100 Dollars ($16.000,000.00);

 

(B)           Customer shall be required to
maintain the following financial percentage(s), ratio(s) and amount(s) as of
the last day of the fiscal period under review by IBM Credit:

 

(i)              Minimum EBITDA.  EBITDA, measured on a fiscal quarter-end
basis, of not less than the required amount set forth in the following table
for the applicable period set forth opposite thereto;

 

 

 

	
  Applicable Covenant 

  Amount (Old)

  	
   

  	
  Applicable Covenant

  Amount (New)

  	
   

  	
  Applicable Period

  	
   

  
	
  $

  	
  (1,500,000)

  	
   

  	
  $

  	
  (3,500,000

  	
  )

  	
  For the 12 month period ending March 31, 2003

  	
   

  
	
  $

  	
  1,200,000

  	
   

  	
  $

  	
  (1,900,000

  	
  )

  	
  For the 12 month period ending June
  30, 2003

  	
   

  
	
  $

  	
  2,500,000

  	
   

  	
  $

  	
  (750,000

  	
  )

  	
  For the 12 month period ending
  September 30, 2003

  	
   

  
	
  $

  	
  2,500,000

  	
   

  	
  $

  	
  300,000

  	
   

  	
  For
  the 12 month period ending December 31, 2003

  	
   

  
	
  $

  	
  2,500,000

  	
   

  	
  $

  	
  2,450,000

  	
   

  	
  For the 12 month period ending each
  fiscal quarter and  thereafter

  	
   

  

 

(ii)             Tangible Net Worth.  Tangible Net Worth measured on a fiscal
quarter–end basis of not less than the required amount set forth in the following
table for the applicable period set forth opposite thereto;

 

 

	
  Applicable Covenant Amount (Old)

  	
   

  	
  Applicable Covenant Amount (New)

  	
   

  	
  Applicable Period

  	
   

  
	
  $

  	
  17,000,000

  	
   

  	
  $

  	
  15,000,000

  	
   

  	
  For the 2nd quarter ending March
  31, 2003

  	
   

  
	
  $

  	
  17,000,000

  	
   

  	
  $

  	
  14,250,000

  	
   

  	
  For the 3rd quarter ending June 30,
  2003

  	
   

  
	
  $

  	
  17,000,000

  	
   

  	
  $

  	
  14,250,000

  	
   

  	
  For the fiscal year ending
  September 30, 2003

  	
   

  
	
  $

  	
  17,000,000

  	
   

  	
  $

  	
  14,500,000

  	
   

  	
  For
  the 1st quarter ending December 31, 2003

  	
   

  
	
  $

  	
  17,000,000

  	
   

  	
  $

  	
  14,600,000

  	
   

  	
  For the 2nd quarter ending March
  31, 2004, and each fiscal quarter thereafter.

  	
   

  

 

(iii)            Capital Expenditures.  Capital expenditures shall not
exceed $1,200,000 in any fiscal year.

 

(C)           Additional Requirements.   The Attachment A is hereby further amended by
inserting therein the following new additional covenant.

 

                (i)  Customer shall be required to ensure the backlog of Eligible
Products does not exceed Four Million Dollars ($4,000,000) in outstanding
transaction approvals for Product Advances issued by IBM Credit to Authorized
Suppliers.

 

Section 3.    Conditions to
Effectiveness of Amendment. The Amendment, as set forth herein, shall become
effective upon the receipt by IBM Credit of (i) this Amendment executed by
Customer, (ii) a covenant adjustment fee, in immediately available funds, equal
to Fifty Thousand Dollars ($50,000.00) from Customer on or prior to May 15,
2003, and (iii) a copy of an amendment to the Foothill Credit Agreement
executed by Customer and Foothill that modifies the financial covenants of such
agreement and such modified financial covenants are equivalent to those in
Section 2 (B) above.  Such covenant
adjustment fee set forth in subsection (ii) herein shall be  payable to IBM Credit hereunder, shall be

 

2

 

nonrefundable
and shall be in addition to any other fees IBM Credit may charge Customer
(other than fees related to the execution of this Amendment).

 

Section 4.              Representations
and Warranties.    Customer
makes to IBM Credit the following representations and warranties all of which
are material and are made to induce IBM Credit to enter into this Amendment.

 

Section 4.1            Accuracy
and Completeness of Warranties and Representations.            All representations made by Customer
in the Agreement were true and accurate and complete in every material respect
as of the date made, and, as amended by this Amendment, all representations
made by  Customer in the Agreement are true, accurate and complete in
every material respect as of the date hereof, and do not fail to disclose any
material fact necessary to make representations not misleading.

 

Section 4.2            Violation
of Other Agreements.       The
execution and delivery of this Amendment and the performance and observance of
the covenants to be performed and observed hereunder do not violate or cause
Customer not to be in compliance with the terms of any agreement to which
Customer is a party.

 

Section 4.3            Litigation.             Except as has been
disclosed by Customer to IBM Credit in writing, there is no litigation,
proceeding, investigation or labor dispute pending or, to the best of the
Customer’s knowledge, threatened against Customer, which, if adversely
determined, would materially adversely affect Customer’s ability to perform
Customer’s obligations under the Agreement and the other documents, instruments
and agreements executed in connection therewith or pursuant hereto.

 

Section 4.4            Enforceability
of Amendment.           This
Amendment and all of the other documents executed and delivered by the Customer
in connection herewith are the legal, valid and binding obligations of
Customer, and are enforceable in accordance with their terms, except as such
enforceability may be limited by the effect of any applicable bankruptcy,
insolvency, reorganization, fraudulent conveyance, moratorium or similar laws affecting
creditors’ rights generally or the general equitable principles relating
thereto.

 

Section 5.              Ratification
of Agreement.                Except as
specifically amended hereby, all of the provisions of the Agreement shall
remain unamended and in full force and effect. Customer hereby ratifies,
confirms and agrees that the Agreement, as amended hereby, represents a valid
and enforceable obligation of Customer, and is not subject to any claims,
offsets or defenses.

 

Section 6.              Governing
Law.    This Amendment
shall be governed by and interpreted in accordance with the laws which govern
the Agreement.

 

Section 7.              Counterparts.         This Amendment may be executed in any number
of counterparts, each of which shall be an original and all of which shall
constitute one agreement.

 

IN WITNESS WHEREOF, this
Amendment has been executed by duly authorized officers of the undersigned as
of the day and year first above written.

 

	
  En Pointe Technologies Sales, Inc.

  	
  IBM Credit LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   By: 

  	
  /s/
  Kevin D. Ayers

  	
   

  	
  By:

  	
  /s/ Heather Jepson

  	
   

  
	
   

  	
   

  
	
   Print Name:

  	
   

  	
   

  	
  Print Name: 

  	
   

  
	
   

  	
   

  
	
   Title:  

  	
  CFO

  	
   

  	
  Title:

  	
  Loan Manager

  	
   

  
	
   

  	
   

  
	
  Date:

  	
  May
  12, 2003

  	
   

  	
  Date

  	
  May 13, 2003

  	
   

  
											

 

3

 

 

	
  ATTEST:

  	
  ATTEST:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Print
  Name:

  	
   

  	
   

  	
  Print Name: 

  	
   

  	
   

  
	
   

  	
   

  

 

4

 

ATTACHMENT A (“AIF ATTACHMENT A”) TO

AGREEMENT FOR INVENTORY FINANCING (“AIF AGREEMENT”)

DATED DECEMBER 28, 2001

 

EFFECTIVE DATE OF THIS ATTACHMENT
A:  May 7, 2003

 

SECTION I.   CUSTOMER:

 

CUSTOMER:   En Pointe Technologies Sales, Inc.

 

Customer’s
Organization No. (assigned by State of Organization): DE 2772959

 

SECTION II.   Fees,
Rates and Repayment Terms:

 

	
  A)

  	
   

  	
  Credit Line: Sixteen  Million Dollars ($16,000,00.00);

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  B)

  	
   

  	
  Borrowing Base:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (i)

  	
   

  	
  100% of the Customer’s inventory in the Customer’s
  possession as of the date of determination as reflected in the 

  	
   

  
	
  Customer’s most recent Collateral Management Report
  constituting Products (other than service parts financed through a Product
  Advance by IBM Credit, so long as (i IBM Credit has a first priority security
  interest in such Products; (ii such Products are in new and unopened boxes,
  and (iii the invoice date reflecting the sale of such Products by Authorized
  Supplier is not greater than one hundred eighty (180 days prior to the date
  of determination. The value to be assigned to such inventory shall be based
  upon the Authorized Supplier’s invoice price to Customer for Products net of
  all applicable price reduction credits. 
  Notwithstanding the foregoing, Product Advances will not be granted if
  Customer’s inventory on hand that is financed by IBM Credit exceeds Three
  Million Dollars ($3,000,000 as reflected in the daily Inventory Report
  described in Section 7.1(K of the AIF. 
  Customer shall be placed on credit hold and be given ten (10 days to
  cure, after which time Customer will be in default. )

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  A)

  	
   

  	
  Collateral Insurance Amount:  Twelve Million Dollars ($12,000,000.00)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  B)

  	
   

  	
  Delinquency Fee Rate:  Prime Rate plus 6.500 %

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  C)

  	
   

  	
  Free Financing Period Exclusion Fee:  For each Product Advance made by IBM
  Credit pursuant to Customer’s 

  	
   

  
	
  financing plan where there is no Free Financing
  Period associated with such Product Advance there will be a fee equal to the
  Free Financing Period Exclusion Fee. 
  For a 30 day payment plan when Prime Rate is 8% the Free Financing
  Period Exclusion Fee is 1.08% of the invoice amount.  This fee will vary by .0125% with each .25%
  change in Prime Rate (e.g. Prime Rate of 7.25%, the charge is 1.0425% of the
  invoice amount.  The fee accrues as of
  the Date of Note and is payable as stated in the billing Statement. )

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  D)

  	
   

  	
  Other Charges:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (i)

  	
   

  	
  Application Processing Fee:

  	
   

  	
  None.

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (ii)

  	
   

  	
  Monthly Service Fee:

  	
   

  	
  $1,000.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (iii)

  	
   

  	
  Closing Fee:

  	
   

  	
  None.

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (iv)

  	
   

  	
  Commitment Fee:

  	
   

  	
  None.

  	
   

  
								

 

 

 

 

5

 

 

SECTION III.        Financial Covenants:

 

Definitions:  The following
terms shall have the following respective meanings in this Attachment A.  All amounts shall be determined in
accordance with generally accepted accounting principles (GAAP).

 

“EBITDA”
means, with respect to any fiscal period, the consolidated net earnings (or
loss) of Parent and its Subsidiaries, minus extraordinary gains, plus
interest expense, income taxes, and depreciation and amortization for such
period, as determined in accordance with GAAP.

 

“Intangible Assets” means,
with respect to any Person, that portion of the book value of all of such
Person’s assets that would be treated as intangibles under GAAP.

 

“Tangible Net Worth” means, as
of any date of determination, the result of (a) Customer’s total stockholder’s
equity, minus
(b) the sum of (i) all Intangible Assets of Customer, (ii) all of Customer’s
prepaid expenses, and (iii) all amounts due to Customer from Affiliates.

 

(a)           Customer shall be required to
maintain the following financial percentage(s), ratio(s) and amount(s) as of
the last day of the fiscal period under review by IBM Credit:

 

 (i)             Minimum
EBITDA.  EBITDA, measured on a fiscal
quarter-end basis of not less than the required amount set forth in the
following table for the applicable period set forth opposite thereto;

 

	
  Applicable Covenant 

  Amount (Old)

  	
   

  	
  Applicable Covenant

  Amount (New)

  	
   

  	
  Applicable Period

  	
   

  
	
  $

  	
  (1,500,000

  	
  )

  	
  $

  	
  (3,500,000

  	
  )

  	
  For the 12 month period ending March 31, 2003

  	
   

  
	
  $

  	
  1,200,000

  	
   

  	
  $

  	
  (1,900,000

  	
  )

  	
  For the 12 month period ending June
  30, 2003

  	
   

  
	
  $

  	
  2,500,000

  	
   

  	
  (750,000

  	
  )

  	
  For the 12 month period ending
  September 30, 2003

  	
   

  
	
  $

  	
  2,500,000

  	
   

  	
  $

  	
  300,000

  	
   

  	
  For
  the 12 month period ending December 31, 2003

  	
   

  
	
  $

  	
  2,500,000

  	
   

  	
  $

  	
  2,450,000

  	
   

  	
  For the 12 month period ending each
  fiscal quarter and each fiscal quarter thereafter

  	
   

  

 

(ii)             Tangible Net Worth.  Tangible Net Worth measured on a fiscal
quarter-end basis of not less than the required amount set forth in the
following table for the applicable period set forth opposite thereto;

 

6

 

	
  Applicable Covenant

  Amount (Old)

  	
   

  	
  Applicable Covenant

  Amount (New)

  	
   

  	
  Applicable Period

  	
   

  
	
  $

  	
  17,000,000

  	
   

  	
  $

  	
  15,000,000

  	
   

  	
  For the 2nd quarter ending March
  31, 2003

  	
   

  
	
  $

  	
  17,000,000

  	
   

  	
  $

  	
  14,250,000

  	
   

  	
  For the 3rd quarter ending June 30,
  2003

  	
   

  
	
  $

  	
  17,000,000

  	
   

  	
  $

  	
  14,250,000

  	
   

  	
  For the fiscal year ending
  September 30, 2003

  	
   

  
	
  $

  	
  17,000,000

  	
   

  	
  $

  	
  14,500,000

  	
   

  	
  For
  the 1st quarter ending December 31, 2003

  	
   

  
	
  $

  	
  17,000,000

  	
   

  	
  $

  	
  14,600,000

  	
   

  	
  For the 2nd quarter ending March
  31, 2004, and each fiscal quarter thereafter.

  	
   

  

 

	
  (iii)

  	
   

  	
  Capital Expenditures. 
  Capital expenditures shall not exceed $1,200,000 in any
  fiscal year.

  

  	
   

  
	
   

  	
   

  	
  (b)

  	
   

  	
  Customer shall be required to ensure the backlog of
  Eligible Products does not exceed Four Million Dollars ($4,000,000 in
  outstanding transaction approvals for Product Advances issued by IBM Credit
  to Authorized Suppliers.)

  	
   

  
						

 

 

SECTION IV.   Additional Conditions Precedent Pursuant to Section 5.1 (J) of
the Agreement:

 

•              Collateralized guaranties from each of En Pointe
Technologies, Inc. and En Pointe Technologies Ventures, Inc.;

•              Subordination or Intercreditor Agreements from all creditors
having a lien which is superior to IBM Credit in any assets that IBM Credit
relies on to satisfy Customer’s obligations to IBM Credit;

 

•              A Compliance Certificate as to Customer’s compliance
with the financial covenants set forth in Attachment A as of the last fiscal
month of Customer for which financial statements have been published;

 

•              Termination or release of Uniform Commercial Code
filing by another creditor as required by IBM Credit;

•              A copy of an all-risk insurance certificate pursuant to
Section 7.8 (B) of the Agreement.

 

7Exhibit 10.1.4

 

Exhibit A

 

ALLOCATION OF PARTNERSHIP UNITS, PERCENTAGE

OF INTERESTS

AND THE AGREED UPON VALUE OF NON-CASH CAPITAL CONTRIBUTIONS

 

	

  Date

  Admitted

  	

   

  	

  Name and

  address of partners

  	

   

  	

  Value of non-cash

  capital contribution

  	

   

  	

   

  	

   

  	

  Partnership

  units issued

  	

   

  	

  Approx. Percentage

  Interests

  	

   

  	

  Federal ID #

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  2/12/97

  	

   

  	

  Golf Legends Ltd., Inc.

  P.O. Box 2038

  1500 Legends Drive

  Myrtle Beach, SC 29578

  	

   

  	

  $

  	

  30,647,030

  	

   

  	

  1,532,352

  	

   

  	

   

  	

   

  	

   

  	

   

  	

  57-0886834

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  4/2/01

  	

   

  	

  Legends (conversion)

  	

   

  	

   

  	

   

  	

  (294,613

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  7/31/01

  	

   

  	

  Redemption at disposition

  	

   

  	

  (14,852,868

  	

  )

  	

  (1,237,739

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  7/31/01

  	

   

  	

  Residual Value

  	

   

  	

  (15,794,162

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Golf

  Legends Ltd., Inc. Total

  	

   

  	

  $

  	

  —

  	

   

  	

   

  	

   

  	

  —

  	

   

  	

  0.00

  	

  %

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  2/12/1997

  	

   

  	

  Seaside Resorts Ltd., Inc.

  1500 Legends Drive

  Myrtle Beach, SC 29578

  	

   

  	

  $

  	

  16,129,118

  	

   

  	

  806,456

  	

   

  	

   

  	

   

  	

   

  	

   

  	

  57-0729308

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  7/31/2001

  	

   

  	

  Redemption at disposition

  	

   

  	

  (9,677,472

  	

  )

  	

  (806,456

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  7/31/2001

  	

   

  	

  Residual Value

  	

   

  	

  (6,451,646

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Seaside

  Resorts Ltd., Inc. Total

  	

   

  	

  $

  	

  —

  	

   

  	

   

  	

   

  	

  —

  	

   

  	

  0.00

  	

  %

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  2/12/1997

  	

   

  	

  Heritage Golf Club, Ltd.,

  Inc.

  1500 Legends Drive

  Myrtle Beach, SC 29578

  	

   

  	

  $

  	

  16,031,230

  	

   

  	

  801,561

  	

   

  	

   

  	

   

  	

   

  	

   

  	

  57-0818596

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  1/6/1999

  	

   

  	

  Heritage (conversion)

  	

   

  	

   

  	

   

  	

  (11,700

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  7/31/2001

  	

   

  	

  Redemption at disposition

  	

   

  	

  (9,478,332

  	

  )

  	

  (789,861

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  7/31/2001

  	

   

  	

  Residual Value

  	

   

  	

  (6,552,898

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Heritage

  Golf Club, Ltd., Inc. Total

  	

   

  	

  $

  	

  —

  	

   

  	

   

  	

   

  	

  —

  	

   

  	

  0.00

  	

  %

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  2/12/1997

  	

   

  	

  Legends of Virginia L.C.

  1500 Legends Drive

  Myrtle Beach, SC 29578

  	

   

  	

  $

  	

  11,963,738

  	

   

  	

  598,187

  	

   

  	

   

  	

   

  	

   

  	

   

  	

  57-1003883

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  4/2/2001

  	

   

  	

  Legends (conversion)

  	

   

  	

   

  	

   

  	

  (598,187

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  7/31/2001

  	

   

  	

  Residual Value

  	

   

  	

  (11,963,738

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Legends

  of Virginia L.C. Total

  	

   

  	

  $

  	

  —

  	

   

  	

   

  	

   

  	

  —

  	

   

  	

  0.00

  	

  %

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  2/12/1997

  	

   

  	

  Northgate

  16055 Northgate Forest Drive

  Houston, TX 77068

  	

   

  	

  $

  	

  3,797,071

  	

   

  	

  189,854

  	

   

  	

   

  	

   

  	

   

  	

   

  	

  76-0527250

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  5/20/1998

  	

   

  	

  Northgate (redemption)

  	

   

  	

  (158,969

  	

  )

  	

  (5,000

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  1/6/1999

  	

   

  	

  Northgate (conversion)

  	

   

  	

  —

  	

   

  	

  (30,000

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  3/2/2001

  	

   

  	

  Northgate (conversion)

  	

   

  	

   

  	

   

  	

  (60,581

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  

 

 

	

  Date

  Admitted

  	

   

  	

  Name and address of partners

  	

   

  	

  Value of non-cash

  capital contribution

  	

   

  	

   

  	

   

  	

  Partnership

  units issued

  	

   

  	

  Approx. Percentage

  Interests

  	

   

  	

  Federal ID #

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  3/26/2002

  	

   

  	

  Northgate (redemption)

  	

   

  	

  (534,999

  	

  )

  	

  (94,273

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  3/26/2002

  	

   

  	

  Residual Value

  	

   

  	

  (3,103,103

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Northgate Total

  	

   

  	

  $

  	

  —

  	

   

  	

   

  	

   

  	

  0

  	

   

  	

  0.00

  	

  %

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  2/12/1997

  	

   

  	

  Olde Atlanta Golf Club

  Limited Partnership

  c/o The Crescent Company

  1580 S. Milwaukee Ave., Suite 101

  Libertyville, IL 60048

  	

   

  	

  $

  	

  1,444,926

  

  	

   

  	

  72,246

  	

   

  	

   

  	

   

  	

   

  	

   

  	

  36-3834881

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  4/13/1998

  	

   

  	

  Olde Atlanta (redemption)

  	

   

  	

  (62,838

  	

  )

  	

  (2,000

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  5/20/1998

  	

   

  	

  Olde Atlanta (redemption)

  	

   

  	

  (64,018

  	

  )

  	

  (2,000

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  8/21/1998

  	

   

  	

  Olde Atlanta (redemption)

  	

   

  	

  (52,388

  	

  )

  	

  (1,500

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  12/10/1998

  	

   

  	

  Olde Atlanta (redemption)

  	

   

  	

  (30,166

  	

  )

  	

  (1,150

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  1/20/1999

  	

   

  	

  Olde Atlanta (redemption)

  	

   

  	

  (66,079

  	

  )

  	

  (2,500

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  4/6/1999

  	

   

  	

  Olde Atlanta (conversion)

  	

   

  	

  —

  	

   

  	

  (2,000

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  5/1/1999

  	

   

  	

  Olde Atlanta

  (recapitalization)

  	

   

  	

  683,967

  

  	

   

  	

  30,826

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  5/27/1999

  	

   

  	

  Olde Atlanta (conversion)

  	

   

  	

   

  	

   

  	

  (2,000

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  7/15/1999

  	

   

  	

  Olde Atlanta (conversion)

  	

   

  	

   

  	

   

  	

  (3,500

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  1/10/2000

  	

   

  	

  Olde Atlanta (conversion)

  	

   

  	

   

  	

   

  	

  (3,300

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  1/26/2000

  	

   

  	

  Olde Atlanta (conversion)

  	

   

  	

   

  	

   

  	

  (4,100

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  4/28/2000

  	

   

  	

  Olde Atlanta (correction

  from 3/24/99)

  	

   

  	

   

  	

   

  	

  2,000

  

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  8/14/2000

  	

   

  	

  Olde Atlanta (conversion)

  	

   

  	

   

  	

   

  	

  (10,600

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  7/9/2001

  	

   

  	

  Redemption at disposition

  	

   

  	

  (757,037

  	

  )

  	

  (70,422

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  7/9/2001

  	

   

  	

  Residual Value

  	

   

  	

  (1,096,369

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Olde Atlanta Total

  	

   

  	

  $

  	

  —

  	

   

  	

   

  	

   

  	

  —

  	

   

  	

  0.00

  	

  %

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  2/12/1997

  	

   

  	

  Bright’s Creek Development

  Co. LLC

  104 Cotton Creek Drive

  Gulf Shores, AL 36542

  	

   

  	

  $

  	

  2,119,005

  

  	

   

  	

  105,950

  

  	

   

  	

   

  	

   

  	

   

  	

   

  	

  63-1120089

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  5/1/2001

  	

   

  	

  Redemption at disposition

  	

   

  	

  (1,271,400

  	

  )

  	

  (105,950

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  5/1/2001

  	

   

  	

  Residual Value

  	

   

  	

  (847,605

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Bright’s Creek Development

  Co. LLC Total

  	

   

  	

  $

  	

  —

  	

   

  	

   

  	

   

  	

  —

  	

   

  	

  0.00

  	

  %

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  10/31/1996

  	

   

  	

  David Dick Joseph

  14 North Adger’s Wharf

  Charleston, SC 29401

  	

   

  	

  $

  	

  —

  	

   

  	

  12,500

  

  	

   

  	

   

  	

   

  	

   

  	

   

  	

  ###-##-####

  	

   

  

 

2

 

	

  Date

  Admitted

  	

   

  	

  Name and address of partners

  	

   

  	

  Value of non-cash

  capital contribution

  	

   

  	

   

  	

   

  	

  Partnership

  units issued

  	

   

  	

  Approx. Percentage

  Interests

  	

   

  	

  Federal ID #

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  12/14/1999

  	

   

  	

  David Dick Joseph

  (conversion)

  	

   

  	

   

  	

   

  	

  (12,500

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  David Dick Joseph Total

  	

   

  	

  $

  	

  —

  	

   

  	

  —

  	

   

  	

  —

  	

   

  	

  0.00

  	

  %

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  2/4/1997

  	

   

  	

  W. Bradley Blair, II

  14 North Adger’s Wharf

  Charleston, SC  29401

  	

   

  	

  $

  	

  —

  	

   

  	

  12,500

  

  	

   

  	

   

  	

   

  	

   

  	

   

  	

  ###-##-####

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  12/31/2002

  	

   

  	

  W. Bradley Blair, II

  (conversion)

  	

   

  	

   

  	

   

  	

  (12,500

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  W. Bradley Blair, II Total

  	

   

  	

  $

  	

  —

  	

   

  	

   

  	

   

  	

  —

  	

   

  	

  0.00

  	

  %

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  2/4/1997

  	

   

  	

  James Hoppenrath

  422 1/2 Marguerite Ave.

  Corona Del Mar CA 92625

  	

   

  	

  $

  	

  —

  	

   

  	

  3,750

  

  	

   

  	

   

  	

   

  	

   

  	

   

  	

  ###-##-####

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  1/6/2000

  	

   

  	

  James Hoppenrath

  (conversion)

  	

   

  	

   

  	

   

  	

  (3,750

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  James Hoppenrath Total

  	

   

  	

  $

  	

  —

  	

   

  	

   

  	

   

  	

  —

  	

   

  	

  0.00

  	

  %

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  6/20/1997

  	

   

  	

  Golf Host Resorts, Inc.

  c/o Starwood Capital Group, LP

  Three Pickwick Plaza, Suite 250

  Greenwich, CT  06830

  	

   

  	

  $

  	

  —

  	

   

  	

  274,039

  

  	

   

  	

   

  	

   

  	

   

  	

   

  	

  84-0631130

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  3/3/2000

  	

   

  	

  Golf Host (conversion)

  	

   

  	

   

  	

   

  	

  (274,039

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Golf Host Resorts, Inc.

  Total

  	

   

  	

  $

  	

  —

  	

   

  	

   

  	

   

  	

  —

  	

   

  	

  0.00

  	

  %

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  9/2/1997

  	

   

  	

  John J. Rainieri, Sr.

  Betty Rainieri

  4350 Mayfair Road

  Uniontown, OH 44685

  	

   

  	

  $

  	

  3,198,168

  

  	

   

  	

  114,237

  

  	

   

  	

   

  	

   

  	

   

  	

   

  	

  ###-##-####

  ###-##-####

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  1/4/2001

  	

   

  	

  Redemption at disposition

  	

   

  	

  (910,632

  	

  )

  	

  (75,886

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  5/16/2001

  	

   

  	

  Redemption at disposition

  	

   

  	

  (460,212

  	

  )

  	

  (38,351

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  5/16/2001

  	

   

  	

  Residual Value

  	

   

  	

  (1,827,324

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  John J. Rainieri, Sr. Total

  	

   

  	

  $

  	

  —

  	

   

  	

   

  	

   

  	

  0

  	

   

  	

  0.00

  	

  %

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  9/2/1997

  	

   

  	

  Raintree Country Club, Inc.

  4350 Mayfair Road

  Uniontown, OH 44685

  	

   

  	

  $

  	

  204,138

  

  	

   

  	

  7,292

  

  	

   

  	

   

  	

   

  	

   

  	

   

  	

  34-1736212

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  1/4/2001

  	

   

  	

  Raintree (redemption at

  disposition)

  	

   

  	

  (87,504

  	

  )

  	

  (7,292

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  1/4/2001

  	

   

  	

  Residual Value

  	

   

  	

  (116,634

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  (Value at Issue - Value at

  Redemption)

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Raintree Country Club, Inc.

  Total

  	

   

  	

  $

  	

  —

  	

   

  	

   

  	

   

  	

  —

  	

   

  	

  0.00

  	

  %

  	

   

  	

   

  

 

3

 

	

  Date

  Admitted

  	

   

  	

  Name and address of partners

  	

   

  	

  Value of non-cash

  capital contribution

  	

   

  	

   

  	

   

  	

  Partnership

  units issued

  	

   

  	

  Approx. Percentage

  Interests

  	

   

  	

  Federal ID #

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  9/30/1997

  	

   

  	

  Eagle Watch Golf Club,

  Limited Partnership

  c/o E. Neal Trogdon

  The Crescent Company

  1580 South Milwaukee Avenue, Suite 101

  Libertyville, IL 60048

  	

   

  	

  $

  	

  1,890,682

  

  	

   

  	

  70,158

  

  	

   

  	

   

  	

   

  	

   

  	

   

  	

  36-3903287

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  11/2/1998

  	

   

  	

  Eagle Watch (redemption)

  	

   

  	

  (64,199

  	

  )

  	

  (2,150

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  5/21/1999

  	

   

  	

  Eagle Watch  (conversion)

  	

   

  	

   

  	

   

  	

  (1,250

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  4/28/2000

  	

   

  	

  Eagle Watch (correction

  from 3/24/99)

  	

   

  	

   

  	

   

  	

  (2,000

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  7/9/2001

  	

   

  	

  Redemption at disposition

  	

   

  	

  (696,149

  	

  )

  	

  (64,758

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  7/9/2001

  	

   

  	

  Residual Value

  	

   

  	

  (1,130,335

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Eagle Watch Total

  	

   

  	

  $

  	

  —

  	

   

  	

  —

  	

   

  	

   

  	

   

  	

  0.00

  	

  %

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  10/17/1997

  	

   

  	

  Properties of the Country,

  Inc.

  102 West Crestview Circle, Suite 100

  Louisburg, KS  66053

  	

   

  	

  $

  	

  500,000

  

  	

   

  	

  19,231

  

  	

   

  	

   

  	

   

  	

   

  	

   

  	

  48-1157265

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  3/16/2001

  	

   

  	

  Redemption at disposition

  	

   

  	

  (230,772

  	

  )

  	

  (19,231

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  3/16/2001

  	

   

  	

  Residual Value

  	

   

  	

  (269,228

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Properties of the Country,

  Inc. Total

  	

   

  	

  $

  	

  —

  	

   

  	

  —

  	

   

  	

   

  	

   

  	

  0.00

  	

  %

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  11/25/1997

  	

   

  	

  Granite Golf Corporation

  1510 N. Hayden Road, Suite 7

  Scottsdale, AZ 85260

  	

   

  	

  $

  	

  650,000

  

  	

   

  	

  24,424

  	

   

  	

   

  	

   

  	

   

  	

   

  	

  86-0926890

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  7/2/1999

  	

   

  	

  Granite Golf (redemption)

  	

   

  	

  (200,257

  	

  )

  	

  (8,393

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  7/27/1999

  	

   

  	

  Granite Golf  (redemption)

  	

   

  	

  (237,935

  	

  )

  	

  (10,354

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  8/13/1999

  	

   

  	

  Granite Golf  (redemption)

  	

   

  	

  (125,746

  	

  )

  	

  (5,677

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  8/13/1999

  	

   

  	

  Residual Value

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  (Value at Issue - Value at

  Redemption)

  	

   

  	

  (86,062

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

  —

  	

   

  	

   

  	

   

  	

  —

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Granite Golf Corporation

  Total

  	

   

  	

  $

  	

  —

  	

   

  	

   

  	

   

  	

  —

  	

   

  	

  0.00

  	

  %

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  12/19/1997

  	

   

  	

  Stonehenge Golf

  Development, LLC

  90 Mallet Hill Road

  Columbia, SC  29223

  	

   

  	

  $

  	

  4,500,000

  

  	

   

  	

  169,811

  

  	

   

  	

   

  	

   

  	

   

  	

   

  	

  56-2027442

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  1/10/2000

  	

   

  	

  Stonehenge Golf

  (conversion)

  	

   

  	

   

  	

   

  	

  (50,000

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  6/20/2000

  	

   

  	

  Stonehenge Golf

  (conversion)

  	

   

  	

   

  	

   

  	

  (25,471

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  3/26/2002

  	

   

  	

  Stonehenge Golf

  (conversion)

  	

   

  	

   

  	

   

  	

  (94,340

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  8/13/1999

  	

   

  	

  Equity Reclass

  	

   

  	

  (4,500,000

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  

 

4

 

	

  Date

  Admitted

  	

   

  	

  Name and address of partners

  	

   

  	

  Value of non-cash

  capital contribution

  	

   

  	

   

  	

   

  	

  Partnership

  units issued

  	

   

  	

  Approx. Percentage

  Interests

  	

   

  	

  Federal ID #

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Stonehenge Golf

  Development, LLC Total

  	

   

  	

  $

  	

  —

  	

   

  	

   

  	

   

  	

  —

  	

   

  	

  0.00

  	

  %

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  1/16/1998

  	

   

  	

  Mystic Creek Golf Club,

  Limited Partnership

  1303 West Commerce Road

  Milford, MI 48380

  	

   

  	

  $

  	

  1,500,000

  

  	

   

  	

  52,724

  

  	

   

  	

   

  	

   

  	

   

  	

   

  	

  38-3187304

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  9/20/2002

  	

   

  	

  Mystic Creek (redemption)

  	

   

  	

  (91,792

  	

  )

  	

  (52,724

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  9/20/2002

  	

   

  	

  Residual Value

  	

   

  	

  (1,408,208

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  (Value at Issue - Value at

  Redemption)

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Mystic Creek Golf Club

  Total

  	

   

  	

  $

  	

  —

  	

   

  	

   

  	

   

  	

  —

  	

   

  	

  0.00

  	

  %

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  2/1/1998

  	

   

  	

  Okeechobee Championship

  Golf, Inc.

  2100 Emerald Dunes Drive

  West Palm Beach, FL 33411

  	

   

  	

  $

  	

  6,138,369

  

  	

   

  	

  227,347

  

  	

   

  	

   

  	

  (1)

  	

   

  	

   

  	

  65-0115196

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  9/7/2001

  	

   

  	

  Redemption at disposition

  	

   

  	

  (2,289,924

  	

  )

  	

  (218,088

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  9/7/2001

  	

   

  	

  Residual Value

  	

   

  	

  (3,598,452

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  (Value at Issue - Value at

  Redemption)

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  9/10/2002

  	

   

  	

  Cancelled

  	

   

  	

  —

  	

   

  	

  (9,259

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  9/10/2002

  	

   

  	

  Residual Value

  	

   

  	

  (249,993

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  (Value at Issue - Value at

  Redemption)

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Okeechobee Championship

  Golf, Inc. Total

  	

   

  	

  $

  	

  —

  	

   

  	

   

  	

   

  	

  —

  	

   

  	

  0.00

  	

  %

  	

   

  	

   

  

 

(1)     Includes 218,088 Class A Common Units issued

with a valuation of $5,888,376 and 9,259 Class B Common OP Units issued with a

valuation of $249,993

 

	

  5/22/1998

  	

   

  	

  Eagle Ridge Lease Company

  LLC

  16100 N. Greenway-Hayden Loop

  Scottsdale, AZ 85260

  	

   

  	

  $

  	

  1,198,750

  

  	

   

  	

   

  	

   

  	

  35,794

  	

   

  	

  0.45

  	

  %

  	

  52-2099405

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  5/28/1998

  	

   

  	

  Golf Classic Resorts, LLC

  536 South Avenue

  Glencoe, IL 60022

  	

   

  	

  $

  	

  879,995

  

  	

   

  	

  26,357

  

  	

   

  	

   

  	

   

  	

   

  	

   

  	

  85-0453484

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  11/26/1999

  	

   

  	

  Golf Classic Resorts

  (redemption)

  	

   

  	

  (199,633

  	

  )

  	

  (11,577

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  12/31/1999

  	

   

  	

  Golf Classic Resorts

  (redemption)

  	

   

  	

  (34,517

  	

  )

  	

  (2,060

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  2/7/2000

  	

   

  	

  Golf Classic Resorts

  (redemption)

  	

   

  	

  (221,408

  	

  )

  	

  (12,720

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  2/7/2000

  	

   

  	

  Residual Value

  	

   

  	

  (424,437

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  (Value at Issue - Value at

  Redemption)

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Golf Classic Resorts, LLC

  Total

  	

   

  	

  $

  	

  —

  	

   

  	

  —

  	

   

  	

   

  	

   

  	

  0.00

  	

  %

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  8/28/1998

  	

   

  	

  Osage National Golf Club

  LLC

  900 Hickory Street

  St. Louis, MO 63104

  	

   

  	

  $

  	

  3,451,068

  

  	

   

  	

  124,700

  	

   

  	

   

  	

   

  	

   

  	

   

  	

  43-1735431

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  6/30/1999

  	

   

  	

  Osage (Redemption)

  	

   

  	

  (1,393,382

  	

  )

  	

  (58,576

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  6/20/2000

  	

   

  	

  Osage (Redemption)

  	

   

  	

  (1,055,101

  	

  )

  	

  (66,124

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  

 

5

 

	

  Date

  Admitted

  	

   

  	

  Name and address of partners

  	

   

  	

  Value of non-cash

  capital contribution

  	

   

  	

   

  	

   

  	

  Partnership

  units issued

  	

   

  	

  Approx. Percentage

  Interests

  	

   

  	

  Federal ID #

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  6/20/2000

  	

   

  	

  Residual Value

  	

   

  	

  (1,002,585

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  (Value at Issue - Value at

  Redemption)

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Osage National Golf Club

  LLC Total

  	

   

  	

  $

  	

  —

  	

   

  	

   

  	

   

  	

  —

  	

   

  	

  0.00

  	

  %

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  12/14/1998

  	

   

  	

  Brentwood Golf &

  Country Club, Inc.

  4801 Faircourt, West Bloomfield, MI 48322

  PO Box 386, Union Lake, MI 48387

  	

   

  	

  $

  	

  650,000

  

  	

   

  	

  24,482

  

  	

   

  	

   

  	

   

  	

   

  	

   

  	

  38-3148750

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  6/20/2000

  	

   

  	

  Brentwood (Redemption)

  	

   

  	

  (390,645

  	

  )

  	

  (24,482

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  6/20/2000

  	

   

  	

  Residual Value

  	

   

  	

  (259,355

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Brentwood Golf &

  Country Club, Inc. Total

  	

   

  	

  $

  	

  —

  	

   

  	

   

  	

   

  	

  —

  	

   

  	

  0.00

  	

  %

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  12/22/1998

  	

   

  	

  Gutta-Percha Golf, Inc.

  365 W. California Blvd.  Suite 2

  Pasadena, CA  91105

  	

   

  	

  $

  	

  870,000

  

  	

   

  	

  32,986

  

  	

   

  	

   

  	

   

  	

   

  	

   

  	

  95-4493507

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  9/5/2000

  	

   

  	

  Palm Desert (Redemption)

  	

   

  	

  (460,785

  	

  )

  	

  (32,986

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  9/5/2000

  	

   

  	

  Residual Value

  	

   

  	

  (409,215

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Gutta-Percha Golf, Inc.

  Total

  	

   

  	

  $

  	

  —

  	

   

  	

   

  	

   

  	

  —

  	

   

  	

  0.00

  	

  %

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  2/4/1997

  	

   

  	

  GTA LP, Inc.

  14 North Adger’s Wharf

  Charleston, SC 29401

  	

   

  	

  $

  	

  —

  	

   

  	

  7,868,789

  	

   

  	

   

  	

   

  	

  99.34

  	

  %

  	

  58-2290326

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  2/4/1997

  	

   

  	

  GTA GP, Inc.

  14 North Adger’s Wharf

  Charleston, SC 29401

  	

   

  	

  $

  	

  —

  	

   

  	

  16,154

  	

   

  	

   

  	

   

  	

  0.20

  	

  %

  	

  58-2290217

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  Total Common OP Units

  	

   

  	

   

  	

   

  	

  7,920,737

  	

   

  	

   

  	

   

  	

  100.00

  	

  %

  	

   

  	

   

  

 

Series A Preferred OP Units

 

	

  4/2/1999

  	

   

  	

  GTA LP, Inc.

  14 North Adger’s Wharf

  Charleston, SC 29401

  	

   

  	

  $

  	

  20,000,000

  

  	

   

  	

  800,000

  

  	

   

  	

   

  	

   

  	

  100

  	

  %

  	

   

  	

   

  

 

Series B Preferred OP Units

 

	

  5/11/1999

  	

   

  	

  Metamora Golf Operating

  Company, L.L.C.

  c/o Total Golf, Inc.

  1303 W. Commerce Drive

  Milford, MI  48380

  	

   

  	

  $

  	

  295,003

  

  	

   

  	

  10,169

  

  	

   

  	

   

  	

   

  	

   

  	

   

  	

  38-3462287

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  9/25/2000

  	

   

  	

  Redemption at Disposition

  	

   

  	

  (295,003

  	

  )

  	

  (10,169

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Metamora Golf Operating

  Company, L.L.C.

  	

   

  	

  $

  	

  —

  	

   

  	

   

  	

   

  	

  —

  	

   

  	

  0.00

  	

  %

  	

   

  	

   

  

 

6

 

Series C Preferred OP Units

 

	

  Date

  Admitted

  	

   

  	

  Name and address of partners

  	

   

  	

  Value of non-cash

  capital contribution

  	

   

  	

   

  	

   

  	

  Partnership

  units issued

  	

   

  	

  Approx. Percentage

  Interests

  	

   

  	

  Federal ID #

  	

   

  
	

  7/28/1999

  	

   

  	

  Burning Embers Corporation

  801Aaron Smith Drive

  Bridgeport, WV 26330

  	

   

  	

  $

  	

  1,350,000.00

  

  	

   

  	

  48,949

  

  	

   

  	

   

  	

   

  	

   

  	

   

  	

  55-0720833

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

  6/20/2001

  	

   

  	

  Redemption (foreclosure on

  collateral)

  	

   

  	

  (1,350,000

  	

  )

  	

  (48,949

  	

  )

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Burning Embers Corporation

  Total

  	

   

  	

  $

  	

  —

  	

   

  	

   

  	

   

  	

   

  	

   

  	

  0.00

  	

  %

  	

   

  	

   

  

 

7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00052-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00052-of-00352.parquet"}]]