Subject: FW: C Share Payments
From: "Michael Mahony" <[email-masked]>
To: "Michael Mahony" <[email-masked]>
Date: Thu, 15 Sep 2016 23:20:19 +0000

Dear Investor:

As you know, the final distribution towards these C Shares was paid over the last 30 days.  Related to this distribution, I'm re-sending you the note below related to the tax treatment of this payment to assist your tax planning.

This memo is not to be relied on, nor is an opinion of our tax advisor, but contains internal information which should help your tax advisor as you prepare final estimates or returns for 2016.

Note that this will be the final official communication regarding these C shares.

Best,

Michael

Michael E. Mahony
505-992-5135 Direct

From: Michael Mahony
Sent: Tuesday, April 12, 2016 12:29 PM
To: Michael Emon Mahony - Rosemont Realty ([email-masked]) <[email-masked]>
Subject: C Share Payments

Attached is information regarding the potential tax treatment of the C Share payments made at closing of the transaction.  This memo is not to be relied on, nor is an opinion of our tax advisor, but contains internal information which should help your tax advisor as you prepare final estimates or returns for 2015.  As you know, the great majority of the "C Share" payment was made in 2015 and an additional amount should be made in 2016.

Due to the tax and disclosure guidelines you will not actually receive an official statement (no 1099, k-1, etc) from the company as this payment does not fit in any of those categories, thus this email to assist you in tax planning.

Best, Michael

Michael E. Mahony
505-992-5135 Direct