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<br />I <br /> <br />.lLI.lLIL(J(J( <br /> <br />(J::J:::J.l <br /> <br />':l::J<r:ltlLtlLt:lt:l <br /> <br />IH~ ~U~Nr~LV ~~UU~ <br /> <br />~A~c. <br /> <br />I::llI t11 <br /> <br />-I <br /> <br />Dr. Cornfeld <br /> <br />From: <br />Sent: <br />To: <br />Subject: <br /> <br />Lamar, Mario [mario.lamar@lehman.com] <br />Wednesday, December 12, 20074:40 PM <br />Dr, Cornfeld <br />City of Sunny Isles Beach <br /> <br />Attachments: <br /> <br />Lamar, Marlo. vef <br /> <br />liiI <br /> <br />Lamar, Mario.vcf <br />(514 B) <br /> <br />Dr. Co:r.n:f.eld, <br /> <br />Per our conversation, Lehman is prepared to establish a "pledge" account between yourself <br />and the City of Sunny Isles Beach. The idea is that we open an account where Dr." Cornfeld <br />would deposi t ~ into a segregated money market account. Attached to this accoun'l: would <br />be a "pledge" .JI /.$ I,,),"'t~. . <br />agreement between the three parties where 11: would state that the C1ty of Sunny Isles <br />would be a.ble to withdraw money if Dr. Cornfeld were to default on payments to the City of <br />Sunny Isles for the const.r.uction of the Newport Pier. When the proj ect is completed and <br />8.11 0:1: O.r.. <br />Cornfeld's liabilities to the City of Sunny Isles Beach have been satisfied, the City <br />would send a satisfaction and all the proceeds would be transferred back into Dr. <br />Cornfeld's account. <br /> <br />I hope this is clear. If not, please let me know_ <br /> <br />Regards, <br /> <br />Mario L. <br /> <br />~1a..d"o R. Lamar <br />Senior Vice President <br />LEHMAN BROTHERS <br />399 Park Avenue I <br />Tel: 21~.526.3843 I <br /><<Lamar, Mario.vcf>> <br /> <br />6th Floor I New York, NY 10022 <br />Fax: 646.885.9093 I Toll Free 800.392.5000 mlamar@lehman.com <br /> <br />This message 1s intended only for the personal and confidential use of the designated <br />recipient(s) named above. If you Dre not the intended recipient of this message you are <br />hereby notified that any review, dissemination, dist~ibl1tion or copying of this message is <br />strictly prohibited. This communication is for information purposes only and should not <br />be regarded as an offer to sell or as a solicitatj.on of an offer to buy any financial <br />product, an official confirmation of any transaction, or as an official statement of <br />Lehman Brothers. Email transmission cannot be guaranteed to be secure or error-free. <br />Therefore, we do not represent that this information is complete or aCC1.1:ra.te a.nd it should <br />not be relied upon as such. All information j,s subject to change without notice. <br /> <br />IRS Circular 230 Disclosure: <br />Plea.se be advised that any discussj.on of U.S. tax matters contained within this <br />communication (including any attachments) is not int.ended or written to be used and cannot <br />be used for the purpose ot (i) avoiding U.S. tax related penalties or (ii) promoting, <br />marketing or recommending to another party any transaction or matter addressed herein. <br /> <br />1 <br />