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R. Leonard, C.S.R, Inc. Certified Shorthand Reporters 818.995.2449 SHEET 29 PAGE 113 PAGE 115 09:15:13 1 Q IS THERE ANYTHING IN EXHIBIT 5 THAT LED YOU TO 09:45:13 1 A NO. 2 BELIEVE MR. DALESANDRD WAS PR@4ISING THAT HE WOULD BE 09:45:13 2 Q DID YOU CONTINUE TO WORK WITH MR. DALESANDRD 3 SUCCESSFUL IN OBTAINING FINANCING FOR THE ROYAL CANYON 3 AFTER HE WAS NOT SUCCESSFUL IN THE ROYAL CANYON PROJECT? 4 PROJECT? 09:45:13 4 A YES. D9:45:13 5 MR. BISNO: OBJECTION TO THE EXTENT THAT IT CAUSES 09:45:13 5 Q WHY? 6 YOU TO REVEAL THE CONTENT OF ATTORNEY -CLIENT 09:45:13 6 A AT THAT TI14E HE SOUNDED AS IF HE WAS SOMEBODY 7 COMMUNICATION, 7 WHO UNDERSTOOD REAL ESTATE, HAD CERTAIN AMOUNT OF 09:45:13 8 THE WITNESS: I WOULD SAY YES. ON PAGE 3 HE 09:45:13 E CONNECTIONS. HE CERTAINLY REPRESENTED THAT. HE SPEAKS 09:45:13 9 DISCUSSES A SUCCESS FEE SO I ASSUME I INFERRED THAT HE 9 IN SUCH A MANNER THAT AT THAT TIME I BELIEVED HE WOULD 10 WOULD HAVE SUCCESS IN REACHING HIS OBJECTIVE OF GETTING 10 BE ABLE TO BE SUCCESSFUL, 11 MY COMPANY CAPITAL TO DO THE PROJECT WE WERE SEEKING TO 09:45:13 11 THEN AS TIME WENT ON HE REVEALED THAT HE HAD NO 12 DO. 12 MONEY, NEEDED LOANS TO STAY IN THE CITY, AND I STARTED D9:45:13 13 Q BY MR, RUBINER: OTHER THAN MR. DALESANDRD, DID 13 TO FEEL, WELL, I'M FORTUNATE ENOUGH TO HAVE A FEW 14 YOU EVER HIRE A CONSULTANT FOR ONE OF YOUR COMPANIES 14 DOLLARS. I'LL GIVE HIM A CHANCE TO SEE DESPITE NOT 15 BEFORE? 15 BEING SUCCESSFUL ON THESE TWO VENTURES, SEE IF HE CAN 09:45:13 16 A YES. 16 DIG SOMETHING ELSE UP, 09:45:13 17 Q AND HAD THE CONSULTANTS YOU HIRED FOR YOUR 09:45:13 17 I HAD NOT REALIZED THAT HE WAS OF THE NATURE HE 18 COMPANIES, HAD YOU EVER HIRED A CONSULTANT FOR THE 16 IS UNTIL LATER ON DOWN THE ROAD. 19 PURPOSE QF OBTAINING A LOAN FOR ONE OF YOUR COMPANIES? 09:45:13 19 Q WHEN YOU SAY 'OF THE NATURE HE IS,' WHAT DOES 09:45:13 20 A YES. 20 THAT MEAN? 09:45:13 21 Q AND HAVE THE CONSULTANTS YOU HIRED ALWAYS BEEN 09:45:13 21 A MISREPRESENTS, TELLS ME HE CAN DO SOMETHING AND 22 SUCCESSFUL? 22 DOESN'T SUCCEED. 09:45:13 23 MR, BISNO: OBJECTION. VAGUE AS TO TIME. 09:45:13 23 Q SO WHAT WAS THE NEXT PROJECT YOU AND 09:45:13 24 Q BY MR. RUBINER: EVER. 24 MR. DALESANDRD WORKED ON AFTER THE ROYAL CANYON PROJECT? 09:15:13 25 A I WOULD SAY NOT ALWAYS. 09:45:13 25 A THE NEXT AGREEMENT I SIGNED WAS FOR THE 113 115 - PAGE 119 PAGE 116 DO:45:13 1 Q WHEN YOU MET WITH MR, DALESANDRO, DID HE TELL 09:45:13 1 SINATRA & COOK PROJECT BUT I THINK IT'S A STRETCH TO SAY 2 YOU ANYTHING ABOUT HIS BACKGROUND? 2 WE WORKED ON IT. 09:15:13 3 A I DON'T RECALL. 09:45:13 3 Q WHY DID YOU ENTER INTO AN AGREEMENT WITH HIM 09:45:13 4 Q DID YOU TELL MR. DALESANDRD ANYTHING ABOUT YOUR 4 ABOUT SINATR.A COOK? 5 BACKGROUND? 09:45:13 5 A WE WERE COMING -- THE SINATRA & COOK PROJECT 09:15:13 6 A I DON'T RECALL. 6 BAD A LOAN COME DUE AND THE LENDER WAS ASKING FOR 09:45:13 7 Q DO YOU RECALL EVER TELLING MR. DALESANDRO THAT 7 PAYMENT, FILED AN NOD AND WE WERE LOOKING FOR CAPITAL TO 8 YOU WERE A MEMBER OF THE URBAN LAND INSTITUTE? 8 TAKE THEM OUT. THEY WERE WILLING TO STAY IN THE DEAL D9:45:13 9 MR, BISNO: OBJECTION. VAGUE AS TO TIME. 9 AND EXTEND THE LOAN BUT IN THAT ENVIRONMENT IN LATE 2010 09:45:13 10 THE WITNESS: I DON'T RECALL THAT AND I WOULDN'T 10 THERE WAS A LOT OF DEVELOPERS GETTING DPO'S AND WE 11 SAY BECAUSE I'M NOT. 11 THOUGHT WE WOULD GO OUT TO MARKET, AND WE HAD TALKED TO 09:45:13 12 Q BY MR. RUBINER: WERE YOU EVER A MEMBER OF THE 12 THE GUYS AT GEORGE SMITH, A GUY NAMED ALLAN FRIEDMAN, A 13 URBAN LAND INSTITUTE? 13 GUY NAMED HACKMAN, I FORGOT MR. HACKMAN'S FIRST NAME. 09:15:13 14 A NOT THAT I RECALL. 14 MICHAEL HACKMAN. AND WE WERE LOOKING TO GET A SUM OF 09:45:13 15 Q DID YOU EVER REPRESENT TO ANYBODY YOU WERE A 15 MONEY TOGETHER TO TARE OUT THE EXISTING LENDER BECAUSE 16 MEMBER OF THE URBAN LAND INSTITUTE? 16 THE ENVIRONMENT WAS SUCH THAT WE THOUGHT IT WAS FEASIBLE )9:45:13 17 A NOT THAT I RECALL. 17 TO DO SO. IN OUR CONVERSATIONS WITH THE LENDER UP UNTIL )9:15:13 18 0 DID YOU EVER SUBMIT A BIOGRAPHY TO ANYBODY 18 THAT TIME THERE CERTAINLY SEEMED TO BE "YOU CAN COME 19 WHERE YOU IDENTIFIED YOURSELF AS A MEMBER OF THE URBAN 19 TALK TO US." 20 LAND INSTITUTE? 09:45:13 20 Q SO WHY DID YOU, - DID YOU RAISE THE ISSUE OF )9:45:13 21 MR. BISNO: OBJECTION. VAGUE AS TO TIME, 21 WORKING ON SINATRA COOK WITH MR, DALESANDRD? )9:45:13 22 THE WITNESS: NOT THAT I RECALL. 09:45:13 22 A MY RECOLLECTION IS HE ASKED ME ABOUT FINDING A )9:45:13 23 Q BY MR. RUBINER: IN YOUR VIEW, WAS 23 BUYER AND HE WOULD GET A FEE TO GET A BUYER AND I 24 MR. DALESANDRD SUCCESSFUL IN HIS WORK FOR THE ROYAL 24 BELIEVED THAT WE DISCUSSED IT BUT THE FUNDS THAT WERE 25 CANYON PROJECT? 25 DUE TO WELLS FARGO LIKELY MADE THAT VIRTUALLY 1141 116 Dalesandro vs. Ogulnick Deposition of Ryan Andrew Ogulnick, Vol. 1 August 13, 2012