CORRESPONDENCE - NON-AGENDA - Laserfiche WebLink

Home Browse Search

R. Leonard, C.S.R., Inc. Certified Shorthand Reporters 818.995.2449 SHEET 34 PAGE 133 PAGE 135 1 A WEEK OR SO REALI2ED IT WASN'T GOING TO HAPPEN. WE 1 HAVE TO REVEAL ATTORNEY -CLIENT COMMUNICATION, OBJECTION 2 SIGNED AN LOI WITH WELLS AND WE WORKED ON THE EXTENSION 2 TO THE EXTENT YOU WOULD HAVE TO REVEAL SPOUSAL 3 LANGUAGE FOR THE LOAN FOR PROBABLY FIVE MONTHS, SIX 3 COMMUNICATION. 4 MONTHS UNTIL WE ACTUALLY SIGNED IT. 09:45:13 4 THE WITFIESS: I DO NOT. 09:45:13 5 Q DID ANYONE AT SINATRA COOK EVER TELL YOU THAT 09:45:13 5 Q BY MR. RUBINER: IN THE FALL -- SO IS IT 6 THEY WERE RELYING OH PARALLEL TO FIND A NEW LOAN FOR, TO 6 YOUR - I THINK YOU SAID THAT YOU BELIEVED 7 TAKE OUT THE WELLS FARGO LOAN? 7 MR. DALESANDRO ONLY WORKED ON OBTAINING A NEW LOAN FOR 09:45:13 B MR. BISNO: OBJECTION. HEARSAY, B SINATRA COOK FOR A FEW WEEKS IN SEPTEMBER OF 2010. 09:45:13 9 THE WITNESS: AS I TESTIFIED, SEAN WAS WAY DOWN THE 09:45:13 9 IS THAT RIGHT? 10 ROAD AFTER A YEAR OF TRYING TO FIND MONEY TO TAKE OUT 09:45:13 10 A I TESTIFIED ORE OR TWO, NOT A FEW. 11 WELLS. CERTAINLY MYSELF AND EAMDAR STARTED TO REALIZE 09:45:13 11 Q ONE OR TWO WEEKS, 12 THE EXTENSION WAS THE ONLY OPTION. GILFENBAIN, I THINK, 09:45:13 12 DID YOU CONTINUE TO DO WORK WITH 13 GOT TO THAT DECISION A LITTLE BIT LATER BUT ONCE WE 13 MR. DALESANDRO? 14 SIGNED AN AGREEMENT WITH WELLS THAT WAS THE ONLY COURSE 09:45:13 14 A I BELIEVE THE ROYAL CANYON WAS ONGOING UNTIL, 15 HE WOULD TALK ABOUT, FOCUS PURELY ON EXTENDING THAT LOAN 15 SAY, LATE OCTOBER/EARLY NOVEMBER WHERE WE WERE STILL 16 AND SEEING WHAT HAPPENS IN THREE YEARS. 16 TRYING TO CONVINCE THE SELLERS OF THE LAND TO STAY WITH 09:15:13 17 Q 41HEN YOU SAY 'HE,' YOU'RE TALKING ABOUT 17 ME BECAUSE I REFUSED TO AT THAT POINT HAVE MY DEPOSITS 18 MR. GILFENBAIN? 1B GO HARD AND AT THE SAME TIME WE WERE CONVINCING A 09:45:13 19 A YES. 19 CAMPAIGN OF, TRYING TO CONVINCE ROCKPOINT CAPITAL TO 09:45:13 20 Q MR. GILFENBAIN EVER TELL YOU HE WAS RELYING ON 20 HONOR A TERM SHEET THEY HAD MADE TO FINANCE THE PROJECT. 21 MR. DALESANDRO OR PARALLEL TO OBTAIN A NEW LOAN? 09:45:13 21 Q WHO FOUND ROCKPOINT CAPITAL? 09:45:13 22 MR. BISNO: OBJECTION, HEARSAY, 09:45:13 22 A TODD EBERSTEIN. 09:45:13 23 THE WITNESS: I DON'T RECALL THAT SPECIFICALLY. I 09:45:13 23 Q AND WHEN DID YOU WORK WITH MR. EBERSTEIN? 24 DO RECALL WAITING TO HEAR BACK FROM THE GUYS AT CANYON 09:45:13 24 A I'VE KNOWN TODD FOR SEVERAL YEARS. 25 WHICH PARALLEL HAD INTRODUCED TO THE DEAL AND I REMEMBER 09:45:13 25 Q WAS MR, EBERSTEIN WORKING ON OBTAINING 1331 1 135 PAGE 134 PAGE 136 1 GILFENBAIN ASKING ME A COUPLE TIMES DO WE HAVE A NUMBER, 1 FINANCING AT THE SAME TIME MR. DALESANDRO WAS? 2 DO WE HAVE A NUMBER, AND I REMEMBER HIM GIVING ME A 09:45:13 2 A I WOULDN'T SAY HE WAS WORKING ON OBTAINING 3 COUPLE SWEAR FIORDS WHEN I TOLD HIM IT WAS NOT A NUMBER 3 FINANCING. I WOULD SAY HE WAS FRIENDS WITH THE 4 THAT WAS GOING TO MAKE ANY DIFFERENCE AND GET US OUT OF 4 PRINCIPALS OF ROCKPOINT AND KNEW I WAS LOOKING TO 5 THIS PROBLEM WITH WELLS. 5 FINANCE A DEAL SO NE HAD SPOKEN TO THAT ONE AND ONLY 09:15:13 6 Q AND ULTIMATELY THE, THERE WAS A NEW LOAN WITH 6 COMPANY AND WAS ABLE TO CONVINCE THEM TO GO FORWARD WITH 7 WELLS; IS THAT RIGHT? 7 AN LOI. 09:45:13 B A I DON'T KNOW IF YOU CALL IT A NEW LOAN. IT WAS 09:45:13 8 THEY FOLLOWED UP WITH JV AGREEMENTS AND THERE 9 AN EXISTING LOAN. WE HAD TO PUT UP AT LEAST THREE 9 WAS A DISPUTE OVER WHO WAS OWED THE FEE. I BELIEVED IT 10 MORE -- $3 MILLION AS PART OF IT TO EXTEND THE LOAN, SO 10 DIDN'T MATTER TO ME. I WAS GOING TO HONOR THE PARALLEL 11 I WOULDN'T SAY IT WAS A NEW LOAN, IT WAS AN EXTENSION 11 FEE AGREEMENT AND I KEPT SEAN AWARE OF THAT. TODD WAS 12 OF A FOUR -YEAR -OLD LOAN WHICH REQUIRED US TO PUT UP 12 GOING TO NEED TO GET PAID BUT HE WAS CERTAINLY THE GO 13 SOMEWHERE BETWEEN 3- AND $5 MILLION. 13 BETWEEN BETWEEN 14E AND ROCKPOINT. HE WAS SPEAKING TO 09:15:13 14 Q WHEN YOU SAY 'US,' DID YOU PERSONALLY PUT UP 14 KYLE GARDNER, A GUY NAMED ARIV I THINK HIS NAME IS, 15 ANY OF THAT MONEY? 09:45:13 15 AND -- BUT IT DIDN'T MATTER, I HAD SIGNED AN AGREEMENT 09:45:13 16 A MO. AS I TESTIFIED BEFORE, IN EXCHANGE FOR 16 FOR THE ROCKPOINT WITH PARALLEL AND IT WAS 11 GILFENBAIN PUTTING UP THE MONEY HE SIGNED AN INDEMNITY 17 INCONSEQUENTIAL TO 14E AT THAT TIME THAT TODD HAD BROUGHT 18 AGREEMENT AGAINST ANY CLAIMS RELATED TO THE SINATRA 6 18 IT. I WAS STILL GOING TO -- IT WAS CONSEQUENTIAL TO NE 19 COOK PROJECT. 19 BUT I WAS STILL GOING TO PAY SEAN A FEE AND I TOLD HIM 09:45:13 20 Q HAVE YOU EVER MADE ANY CLAIMS ON THE INDEMNITY 20 THAT. 21 LANGUAGE? 09:45:13 21 Q DID ROC{POINT GO FORWARD WITH THE DEAL? 09:45:13 22 A NO. 09:45:13 22 A NO, 09:45:13 23 Q WAS, DO YOU KNOW IF A NEW DEED OF TRUST 41AS 09:45:13 23 Q DID ANYONE EVER TELL YOU WHY? 24 FILED ON THE WELLS LOAN? 09:45:13 24 A YES, 09:45:13 25 MR. BISNO: OBJECTION TO THE EXTENT THAT YOU WILL 09:45:13 25 Q WHY WERE YOU TOLD THAT ROCKPOINT WOULDN'T GO 139 136'.. Dalesandro vs. Ogulnick Deposition of Ryan Andrew Ogulnick, Vol. 1 August 13, 2012