-104-
Valleybrook. Exhs. 224, 225, 228 (checks written against a D.M.
Interstate Management, Inc. account).
A letter to Kanter from BJF, Inc., dated October 31, 1983,
stated in pertinent part:
Dear Mr. Kanter:
Please find enclosed our check #8135 for $15,000.00.
This represents your 5% participation of our
$300,000.00 incentive fees received from Prudential for
50% of units closed at Calais, Chatham and Valleybrook.
[Exh. 225.]
The accompanying check, made payable to Kanter, was later voided
and a replacement check was issued to Zeus. Exh. 229; Exh. 456
at 16; Busse, Transcr. at 735-736.
c. BJF Partnership
As previously mentioned, in June 1984, BJF Partnership was
formed. Exh. 223. The partnership agreement provided that THC
was entitled to 13.125 percent of the partnership’s cash
distributions, but THC was obliged to remit 17.5 percent of the
partnership’s capital contributions. Id. at 12; Exh. 5802.
Article II of the partnership agreement recited that the partners
assigned or transferred to the partnership the items specified in
part II of appendix A. Exh. 223, at 8. Part II of appendix A of
the partnership agreement listed 24 items transferred to the
partnership including (1) various management and consulting
agreements between BJF, Inc., and Prudential related to
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