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d been abandoned because of mismanagement and corruption, and we are at the contact stage of entering into agreement on a 5,000 acre development in North Carolina where the owners need management and they need the ability to attract some money on a last-in, first-out basis, and we are closely following a half
200 left to be built. After Lloyd Bentsen's death, we bought from his estate, at a very attractive price, his interest, and it is now owned 100% by Landmark. EFTA_R1_00202623 EFTA01827481 South Padre Island Development is on the right side of history in that it offers good value, in warm weather. on
esort community in development. While very few foreclosures have taken place to-date, on an average, they have sold for 10 cents on the dollar. 4. Landmark has: • the best reputation in the business, • the management team that created the reputation, and • $153 million tax loss that expires 2022.
d been abandoned because of mismanagement and corruption, and we are at the contact stage of entering into agreement on a 5,000 acre development in North Carolina where the owners need management and they need the ability to attract some money on a last-in, first-out basis, and we are closely following a half
isis we only sold 21 houses in 2008 and are doing only slightly better than that in 2009. Therefore, the cash flow is not coming from South Padre to Landmark, but cash is going from Landmark to South Padre. Recently there was some sign of optimism, but in the short run, this may be a false spring. In the
resort community in development. While very few foreclosures have taken place to-date, on an average, they have sold for 10 cents on the dollar. 4. Landmark has: • the best reputation in the business, • the management team that created the reputation, and • $153 million tax loss that expires 2022.
d been abandoned because of mismanagement and corruption, and we are at the contact stage of entering into agreement on a 5,000 acre development in North Carolina where the owners need management and they need the ability to attract some money on a last-in, first-out basis, and we arc closely following a half
resort community in development. While very few foreclosures have taken place to-date, on an average, they have sold for 10 cents on the dollar. 4. Landmark has: • the best reputation in the business, • the management team that created the reputation, and • $153 million tax loss that expires 2022.
,200 left to be built. After Lloyd Bentsen's death, we bought from his estate, at a very attractive price, his interest, and it is now owned 100% by Landmark. EFTA_R1_01517543 EFTA02442518 South Padre Island Development is on the right side of history in that it offers good value, in warm weather. on
d been abandoned because of mismanagement and corruption, and we are at the contact stage of entering into agreement on a 5,000 acre development in North Carolina where the owners need management and they need the ability to attract some money on a last-in, first-out basis, and we arc closely following a half
,200 left to be built. After Lloyd Bentsen's death, we bought from his estate, at a very attractive price, his interest, and it is now owned 100% by Landmark. South Padre Island Development is on the right side of history in that it offers good value, in warm weather. on the water for middle-class pre-re
resort community in development. While very few foreclosures have taken place to-date, on an average, they have sold for 10 cents on the dollar. 4. Landmark has: • the best reputation in the business, • the management team that created the reputation, and • $153 million tax loss that expires 2022. Up
ad been abandoned because of mismanagement and corruption, and we are at the contact stage of entering i=to agreement on a 5,000 acre development in North Carolina where the owners ne=d management and they need the ability to attract some money on a last-in, first-out basis, and we are closely following a half
man" size="3"> EFTA_R1_01664176 EFTA02524800 Update of the Last 10 Years D=ring the last 5 years of our fight with the government, because of Landmark's high quality environmental record, Landmark was invited by the=20 European Union to develop the last great sand dune on the west coast of Ireland
left to be built. After Lloyd Bentsen's death, we bought from his estate, at a very=20 attractive price, his interest, and it is now owned 100% by Landmark. S=uth Padre Island Development is on the right side of history in that it offers good value, in warm weather. on the water for middle-class pre
been abandoned because of mismanagement and=20 corruption, and we are at the contact stage of entering into agreement =n a 5,000 acre development in North Carolina where the owners need manageme=t and they need the ability to attract some money on a last-in, first-out=20 basis, and we are closely following a ha
FTA_R1_01664203 EFTA02524816 During the last 5 years of our fight with the government, because of Landmark=92s high quality environmental record, Landmark was invited by the European=20 Union to develop the last great sand dune on the west coast of Ireland. We developed, on a fee basis, the Doonbeg Gol
nd are doing only slightly better than that in 2009. =20 Therefore, the cash flow is not coming from South Padre to Landm=rk, but cash is going from Landmark to South Padre. Recentl= there was some sign of optimism, but in the short run, this may be a fa=se spring. In the long run, I am confident that off
ad been abandoned because of mismanagement and corruption, and we are at the contact stage of ente=ing into agreement on a 5,000 acre development in North Carolina where th= owners need management and they need the ability to attract some mone= on a last-in, first-out basis, and we are closely following a half
22. Update of the Last 10 Years During the last 5 years of our fight with the government, because of Landmar.'s high quality environmental record, Landmark was invited by the Europe=n Union to develop the last great sand dune on the west coast of Ireland. We developed, on a fee basis, the Doonbeg Go=f C
is we only sold 21 h=uses in 2008 and are doing only slightly better than that in 2009. Therefore, the cash flow is not coming from South Padre to Landmark, but cash is going from Landmark to South Padre. Recently there was some sign of optimism, but in the short run= this may be a false spring. In the
gement and corruption, and we are at the contact stage of entering i=to 2 EFTA_R1_01664850 EFTA02525224 agreement on a 5,000 acre development in North Carolina where the owners ne=d management and they need the ability to attract some money on a last-in, first-out basis, and we are closely following a half
s 2022. =font face="Times New Roman" size="3"> Update of the Last 10 Years D=ring the last 5 years of our fight with the government, because of Landmark's high quality environmental record, Landmark was invited by the=20 European Union to develop the last great sand dune on the west coast of Ireland
left to be built. After Lloyd Bentsen's death, we bought from his estate, at a very=20 attractive price, his interest, and it is now owned 100% by Landmark. S=uth Padre Island Development is on the right side of history in that it offers good value, in warm weather. on the water for middle-class pre
und named Square Mile. We are in the preliminary stages of talking with him about financing Bright's Creek, the 5,000 acre distressed development in North Carolina. We are also working with Thomas Mukamal in Andrew Farkas' office to see how we might work together to acquire and develop Chub Cay. Colonial Bank,
FDIC and the Alabama State Banking Department. The bank is currently working to increase capital levels and reduce the level of criticized assets. Landmark has been in discussions with a group that owns approximately 1,000 acres of undeveloped entitled residential property in the Sugarloaf Mountain comm
its=20 obligations. Also in this time, we have entered into a contract, subject to financing, to acquire Bright's C=eek, a 5,000 acre development in North Carolina that I believe we discussed in our last meeting. Now I would like some of your time to get your thoughts on how I might best acquire Bright's Creek=
t and great reluct=nce, to ask for a piece of your most valuable asset, your time. When we last =poke, I told you that my job was to find a way that Landmark could sustain its losses until the seco=d home market recovered in its two excellent projects, South Padre Island and=20 Barbados, and it had an op
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