-11-
between ALD and ALSL. ALD would repay these transferred funds to
ALSL only upon the sale of condominium units in the Seasons of
Sarasota project, and ALSL would repay HEI only when and if it
received repayment from ALD. In December 1996, HEI decided not
to devote any more funds to the Seasons of Sarasota project.
In connection with the ALSL note, HEI transferred funds to
ALSL and ALSL made repayments to HEI as follows:
Date Amount Amount Repaid Unpaid Balance
1/18/95 $20,000.00 -0- $20,000.00
1/18/95 698.00 -0- 20,698.00
2/24/95 15,000.00 -0- 35,698.00
3/3/95 20,000.00 -0- 55,698.00
3/7/95 15,000.00 -0- 70,698.00
3/10/95 10,000.00 -0- 80,698.00
3/15/95 84,302.00 -0- 165,000.00
3/24/95 7,500.00 -0- 172,500.00
3/24/95 75,000.00 -0- 247,500.00
4/4/95 25,000.00 -0- 272,500.00
4/11/95 220,000.00 -0- 492,500.00
6/9/95 100,000.00 -0- 592,500.00
6/23/95 100,000.00 -0- 692,500.00
6/26/95 50,000.00 -0- 742,500.00
6/30/95 368.40 -0- 742,868.40
7/14/95 50,000.00 -0- 792,868.40
7/31/95 1,366.58 -0- 794,234.98
8/1/95 50,000.00 -0- 844,234.98
8/15/95 50,000.00 -0- 894,234.98
8/21/95 50,000.00 -0- 944,234.98
8/31/95 356.53 -0- 944,591.51
9/5/95 50,000.00 -0- 994,591.51
10/31/95 1,092.87 -0- 995,684.38
11/27/95 50,000.00 -0- 1,045,684.38
12/7/95 50,000.00 -0- 1,095,684.38
12/27/95 50,000.00 -0- 1,145,684.38
1/8/96 50,000.00 -0- 1,195,684.38
2/5/96 50,000.00 -0- 1,245,684.38
2/12/96 50,000.00 -0- 1,295,684.38
3/6/96 75,000.00 -0- 1,370,684.38
3/8/96 75,000.00 -0- 1,445,684.38
4/12/96 50,000.00 -0- 1,495,684.38
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Last modified: May 25, 2011