Gail - Re: Operational Strategy Meeting Page 1 of Grail sitcom csonioynatone Re: Operational Strategy Meeting 4 massages F Don Anderson ‘or Dave Brun Ge til Gnesem ba ‘That would be ne wth me. Current, the Andre Meyer CEO Is coming In at 1330 fora couple of days to {all aout bacoming the CEO of Ethanol operation for us. He's the sker that I spoke fo you about Yesterday. Probably 1530 schedule with you and Bil would be about right after get Bab and Ann Mare Jetup, Will fora lite carlo. Noed to brler bth of you on some current issues that am aware of, ‘nd mostly iste to what the two ef yeu are thinking on (On 3/16/07 11:05 AM, "Davi Brun” wrote: on, YeUt Input would be Invaluable. tm avaliable all day today unt about 4:30 If you'd tke to ‘get together today. Otherwise, Im happy alsa to get together ver the weekend. We have Space to warkin here atthe bank tha be qulet I View ths asa starting alt mating a We identify acovtles and potently begin to deny and allocate resource, Thank Yo, Corday, Dave Dave Brunt Presiden, Vectra Bonk Steamboat Springs [ol 970-870-4247 »(e]970-819-1935, fhrvi bront@vectrabankcom From Ben Anderson (ooo 2049 om] Sent! ay, Moreh 6 2007103 9 ‘Trl crisomy Rn Sis; Shane ss; Cory Sls avd Bru; Dav Le; Raper A. Sobnson ‘Subject: Re Operatona Satgy Meeting a Sorry 1 dnt know eater, and blleve that ths meeting Is tay important, ‘Unertunstly am going to bein rani Honday moran (eave Steambeat a 0830) for (OKC. "T wil be avatable via phe a portion a ths time and wauld Hee to tak abou the ‘Strategy over the weekend that ls ta posible, on ‘n/m google.convinallik=e244facedview=ptð=1 15e6192ed1@6138search=q... 8/13/2007Gmail - Re: Operational Strategy Meeting Page 2 of 4 | (on 3/16/07 10:03 AM, “Bl Grissom” wrote ‘avd, Ron and Invite everyone fora very imgortent meeting to the future ‘operations of our companies In tis commen ‘effort Where: Vectra Bank Board Room ‘When: Menday tarch 19, Sam to 2pm lunch provged Purpose: Structure operational strategies to elp ensure the successful ompltion ofthe work in fant af us ow end the fire of eur companies, 1 apoogle for the short noice, and hope you wil be avaiable for sl hat you F bon Anderton Celt "s80-471- 3649 malt donas2949!qmal.com David Brunt ‘TorF Don Anderson ‘9@gmall com> (Cr: Bil Grissom Territe, Don, you can break kee eater this pm. thd be OK, too. Coda, Davo ave Brat President, Vectra Bank Steamboat Springs [ojoro-sve-aai7 -(e}o70.810-1095, ‘avid bunigevecrabank com From: F Don Anderson matoxiona32040M0amallcom) Sent ray, March 16,2007 11:17 AM “Tot David Brn (es Bal Grissom (et etn) es tito ‘nip:/mail google.com/nail/ik==244 LAfacedview=ptt 115e6192ed1e6138searchi-g.. 8/13/2007Gnvail - Re: Operational Suategy Meeting Page 3 of 4 David Brnivet ON ohn Palco lonallsones@umallcom Fl, Mar 46,2007 at sisam guess transl yoe nt hing ut ay ed to meaUelscuss anything pit tothe meeting? tia 'etpening be weeend ou, maybo we can ge you ad Fain up tote hae ° ‘On 318107, Bl Gissom vnc: ‘ony skipped you en hes. Fordod massage Fc a reson “rer ior com> ioc Opatona Stalag Meat tect Opt Satay Meo $e Ron She catalan ate, AVOK.Oen < ona294@gna com>, Shave Sas ‘Saawsstgn eon, Cay Sls cnnsdsyng con, bas Ba dimalinnievtaban coe, Dav Lee lentumetcon,"Roge A dohson (Roger A. sohrson i sraspinosscom = David Ron and invite everyone for a ery impstant meeting to he fate operations of our compas in thes common effet Whore Vectra Bank Board Room ‘When: Mendy Meh 19, am 2 pm nch provided Purpose: Stueture operational satogos to help ensure the sucessful complotion of tho workin font of us how and the ftir of eur eompanios | apologize forthe short noice, and hope you wil be avaiable fora that you can oy David Brunl ‘To: Bil Gissom essa bu@gmal con a {ete intude John to, Corsa, Dave Dave Brot President, Vecta Bank Stoarboat Springs {o}70-670-4217-[e) 070-810-1038, vid. bruni@eectabank com pHa google.comnail7ik-e24414face@ view=ptduth=111506192ed1e6138search-q.. 8/13/2007Grol - Re: Operational Stategy Meeting Page 4 of 4 From: Bl Grissom [maltosrsom.lebaalcom) Sent Fray, Moreh 16,2007 10:57 AM, ‘To: F Don Niderson Cet Ron sis; Shane Sis; Cory Sullns; Dav Brun; David Le; Roger A. ohnson Subject: Ret Operational strtexy Meeting sory bit the button oo goon. can you jn us? (on 316107, Bt Grissom wrote: thnk that reat ea, and can meet ths weekend, but David has ends i, soe (on 3H607,F Don Anderson wrote: ‘a Sore t dnt know eae, and I beeve that this meeting is rtealy Important. Unfortunatly, 12m g¢ (on 3/16/07 10:03 AM, "Bi Grssom" < arssom.tilleamalcam> wrote David, Ron and 1 vite everyene for avery Important meting to the future operations of eur ont ere: Vetra Bank Board Room ‘When: anday Maren 19, samt 2pm lanch provided ‘Purpose! structure operational stroegies to help ensure the successful completion of the work in 1 apologize forthe short notice, an! hope you wl be aallabe fr al that you can. F bon anderson cal sa0-471-3649 mal" dono2949@9mallcom 441 Afacedeviow=pr&th=1115e6192eULe6138esearch=q.. 8/13/2007Ginail- Goals ete, Page 1 of Graail ono 120m ue) ea Goals etc. message 1 , BA Grissom i Mar 17,2007 a 42:04 Pl ‘Ta; dandergnatusventiresok com, Don Anderson , du Gresem -pissom mayen on and Bi, watson of yesterday’ document, My pani fo work on ti off and on over the weaken oat bit Feel fre to share any thoughts rreactonsyau ray have, Thank you. la) 207 Scope of Woreva.t7.07 oe ‘BI Grissom Sat, Mar 47,2007 at 3:25 PM To: David Brun sdavicbunigbeomcastnel> ‘Thanks wit do (Cuma te ‘ngpifmil google. com/mnail/ik-e2441Afacedviewpt&th=1116leaBdee859268scarch-q.. 8/13/2007MAPI Activities 2007 Goal Setting by Project Villages of Hayden © Sales * Close 40 SF home sales by FYEO7 Close 86 [all Filing 1] total sf home sales by 12/1/08 Close 6 MF home sales by 10/1/08 © Operations Home building ‘Refine home plans for manntactasing process ‘© Refine pricing, if necessary ‘© Establish building process flow ‘© Adopt best practices from other Fuqua customers? processes regarding: "Basements and foundations ‘Horizontal site infrastructure Actual hookup process Finish stat Inside = Outside © Get vendors ‘Bid and let contacts © Finance ‘+ Establish Fuqua construction draw process ‘© Adopt best practices fom other Fuqua customers ‘Phase 1 Filing 1=42 acres with VBC ‘© A&D loan: $3,225M ‘© Construction guidance line: IMM (0 Increase GLOC to $2.5MM? Develop buyer financing plans ‘© rent-to-own with credit reporting ‘© develop strong local mortgage lender network ‘#1 time homebuyers program © YVHA © CHA inate debt on the unannexed portion = 677 acres © $22MM with Bob © $2.30M whth FSB + Triple Crown Grants © Xeel © Peabody ° TIC © Goco © Sales tax? © Meteo distiet?Hidden Springs 1. Continued sale of lots a, awe $1.4MM to Alpine b. $140M release price 2, Introduce Don and Tom Fox Mt Harris 1. Plan infrastructure andl amenities 2. Develop strategy to get out of debt except for $2-2.5MM to FSB. 3. Use sales of lots to investors o payoff RobCon $SMM by 6/31/07 ‘a. Rolling $5MM commitment by RobCon??? '. Payed down SI 1,1MM the week of 2/5? a ‘© Goal for 2007: Develop sales velocity and momentum ‘0 Build sense of eapacity in the community, ‘+ Define marketing strategies by project © Voll (©. Hidden Springs © The Clits ‘© The Preserve Drive traffic to all 3 projects ‘To the brokerage communities in Steamboat, Craig and Hayiden Web Site © Project info © Home plans with pricing © Advertsing Collateral materials Evaluate what's working ‘© Establish metic, define suecess Sales ‘+ Develop goals by project ‘© Vol: Sell 86 homes by 10/1/08 (© Hidden Springs: © The Cliffs: © The Preserve: + Sales strategies developed by project © Voll © Hidden Springs © The Cliffs ©. The Preserve ‘Develop sales leverage ‘© Engage the brokerage community Operations © VoH ‘© Goal: Build 86 homes by 10/1/08 Organizational planningOther Priorities 1. Develop and implement strategy for Triple Crown in Hayden ‘a. Funding i, Construction 1. Corporate sponsorships 2. Metro District? 3. Transfer foo? i, O&M 1, Metro Distriet?Priorities Villages 1. Develop velocity and momentum build sense of capacity inthe community 2. liminate debt {4 unanexed portion = 677 acres iL $2.2MM with Bob ii, S23MM with FSB '. annexed portion = 220 acres iv phase filing |= 42 acres with VBC ii, remaining 178 aces: 3, Buildout of 6 homes by 3/1/08, RobCon entity to do ste work and basements Local builders are bidding — John's coor System built builders are bidding Designs being modified to enhance eu appeal Sagewood selling 8 homes. i, Whipper~ realtor / developer i, 1300 st- $265M-$176/ {financing plans developed i rentto-own 1. credit reporting established ji, develo strong local mortgage lender network iii 1" Gime homebuyers program 1. YVHA's lists? 2. CHFA? matket1o the brokerage community 4. Hayden ii. Steamboat Craig 4. Put Phase 2 Financing in place a. BotW- SMM facility 5. Finish planning and annexation of remaining 721 acres by 10/1/07 6. Mass grading of phase 1, ling 2~to be done this yearby RobCon 3,225M + SIMM Hidden Springs 1. Continued sale of lots ‘a awe $14MM to Alpine b, $140M release price 2. Introduce Don and Tors Fox. ete 2. Develop stategy to get out of debt except for $2-2.5MM to FSB 3._ Use sales of lots to investors to payoft RobCon $SMM by 6/31/07 1. Rolling $5MM commitment by RobCon Paying down $1-1.1MM the week of 2/5i. Construction 1 Corporate sponsorships 2. Metro District? 3, Transfer fee? i, O&M 1, Metro District?aliain C Fam Mart Ain ‘© Villages of Hayden ©. Sales * Close 40 SP home sales by FYEO7 Close 86 fall Filing 1 total sPhome sales by 8/1/08 * Close 6 MF Filing 1 home sales by 8/1/08 (© Operations ‘Home bil ‘© Refine home plans for manuficturing process © Order frst ‘batch of homes" © Refine pricing, ff necessary ‘© Establish building process flow ‘© Adopt best practices from other Fuqua customers’ processes regarding: ‘Basements and foundations Horizontal ste inftastrueture ‘Actual hookup process Finish stat? © Inside © Outside © Get vendors ‘Bid and let contrats *+ Establish Fugua constuction draw funding provess Adopt best practices from other Fuqua customers + entity best construction lender per timing [% complete] of permed draws ‘© Use VBC One-Time Close product to max extent possible if construction draw process is OK Phase | Filing 1 = 42 acres with VBC © A&D om: $3,225M ‘© Construction guidance line: $IMM (©. Increase GLOC to $2.5MM? + Develop buyer financing pa ‘rent-to-own with eredit reporting = dovelop strong loos! mortgage lander network © 1 time homebuyers program © YVHA 0 CHFA * Fliminate debt on the unannexed portion = 677 acres ‘© $5.5MM loan originated by FSB (© $2.3 MM felained by FSB (©. $2.2MM paticipation by with Bob Keys‘© Villages of Hayden [contd] (© Development * Complete marketing study ‘© _Traplement best practice recommendations + Bstablish product phn Political will ‘© Create strategy to develop political support inthe eommunity (© Identify key community leaders ‘©. Develop message and talking points ‘© Implement strategy ‘0. Build credibility by selling homes and delivering equality product ‘©. Develop relationships with key community leaders ‘© Build consensus © Triple Crown "= Develop relationship with Triple Crown Create development plan © phasing ‘+ inaning strategy to match phasing © Grants Xcel Peabody TIC Goce ‘© Sponsorships (© High net worth individuals © Sales tax? © Metro district? Political will ‘© Create strategy to develop political suppor in the community © Identify key community leaders (© Develop message and talking points ‘© Implement strategy ‘0 Develop relationships with key community leaders © Build consensus© Hidden Springs Sales = Sell ots ‘© Communicate project identity ‘© Build awareness in brokerage community ‘© Diive trafic ftom Steamboat Build credibility by selling homes and delivering quality product (© Operations Home building Builder lot purchase deals to get specs started to build momentum? * Wedo specs? ‘© lem up source relationship with Timber Creek and/or Fuqua [high-end as source(s} © Finance owe 14MM to Alpine + $140M release price © Other Introduce Don and Tom Fox ‘© Fox to bul spec? + Ma Ha 3 has Fond cbtowe + Cae otter cet = + Natural gas line / Jak Lie eee L Picco : oan le bray bol Marre ‘Other buildings ‘ Adin an pre Beton meget of dol oxn or 22 SUM to PSB @ Vocals nests oye oon SSD by WOTMarketing ‘© Goal for 2007: Develop sales velocity and momentum ‘0. Build sense of capacity inthe community ‘© Define marketing strategies by project © Voll (©. Hiden Springs ©. TheCiifis © The Piesevve ‘© Drive trafic o all 4 projects, as appropriate ‘© Build awareness with the brokerage communities in Steamboat, Craig and Hayden © Website (© Project info (© Home plans with pricing Advertising © Collateral materials © Bvaluate what's working ‘© Bstablsh metres, define success © Refine methods Sales Develop goals by project Wel 8 hones by onan Us / © Hidden Springs: 19 fof ~ Coat (0 lel ovr wht /2me © Mt 7 ad © The Preserve: 10 (24 ovis wich (2 sv ‘+ Sales strategies develdped by projet © Voll (© Hidden Springs © TheClis ©. The Preserve + Develop sales overage ‘©. Engage the brokerage community Operations ook ApythoyS 15 ‘we dn shone a8 al pinning Adopt process lw best prasie ‘Biddle contacts + Hien Springs ©. Home building ‘Deide on bilder lot purchase deals to get pecs + Decide on whether wedo specs and how many preltonship with Timber Cree a sourcetual gas line © Build equestrian facility ish uses for other buildings © Adopt best practice Fuqua construction (©. Identify best construction lender per (©. Inotease Vectra GLOC {$2.5MM?] (© Develop buyer finaneing plans caw funding process [96 complet} of permitted draws [Biminate debt on the unaanexed portion ‘Triple Crow financing Develop budget © Hidden Springs (© Develop budget ‘©. Review loan tems with Alpine © Mt Haris ‘0. Develop stiategy to get out of debt except for $2-2.5MM to FSB (©. Payoff RobCon $SMM by 6/31/07 through investor lot sales (©. Determine availability of rolling $SMM commitment by RobCon (©. Develop budget ‘© Compete marketing study (© Implement best practice recommendations from marketing study © Eslabish product phasing (© Create political will for future Vol phases and Triple Crown ‘+ deatify key community leaders Develop message and talking points ‘Implement strategy © Build credibility ‘© Develop relationships with key community leaders ‘© Build consensus PME on damn /egni (tor) © Mt Harris 0 Addi al and purchaseCommunications dentify opinion leaders in Steamboat, Hayden and Craig © Brokers, appraisers, political leaders, bankers, tc. Reach out to opinion leaders in Steamboat, Hayden and Craig, ‘©. Usemarketng collateral materials Build awareness Build credibility Build tateGimail Agenda and Minutes Grail ng? ee Agenda and Minutes ‘ mossage Dave Brun! Te! som il@hgmat com Hare they av, Dave attachments ‘Agenda fr Partner-Team Mtg etd 4-18-07. doe a {Mates rom mtg 444.07 Page 1 of | Bl Grissom ‘Wed, Apr 18,2007 at 9:11 AML ‘ntp:/nil googe.com/mnailik=e244 Afucedview=ptSah=11208(Sd0d3e2aL &scarch=q.. 8/13/2007Page 1 of 3 Bil Grissom Server and Software S meseage David Brun! “Thu, Ape 18,2007 a 4:04 Pat ‘o"Twana Stns suns ecevepgma com> ¥ Ron ie stnaomaly sno Sone, Bl rstom , Tee Brey “hreleyet@comcest nee erin Hayden andor the Peachvee sofware? inet | poke to Ron and he sais ok MAPI/ West Routt ofce here and save te money cost replace them. Please lt ‘me know i what you think. Thankyou. Corday, Dave Davia P. runt President Mountain Adventure Property vestments, LLC zd Axe Lane, Seamtoal Sprgs CO 80487 (970-970-1019 fx] 970.870.1911 [cjo7osie-toss Atrun@mapit com David . Brunt dbruni@mapite-com) vet op (orunimapite.com). Bill Grissom Fl, Apr 20, 2007 at 7:24 AM ‘ot Dawa trun! edavchrmigjeomesst n> te information for you. tous dedovaugme Fr, Apr 20, 2007 at 12:44 PM ‘Tor Davia run edavsbrigheomet Ge Ren Sis roalsalioyshoo con il ison Fr Apr 20,2007 at 4:40 PI To! Twana Sullns Ce: Ron Sis , Bo Grissom , The Bradley bradeyet@comeastneb> wana, 1 Spl to Ron round non tay and my uderstang sh Was te with moving the server dom here Provided yeu nave acess othe Peahvooinrmaton. 1 agra you should have comple acoso he, HNAPI,CODI and Wet Rout nani Ifo. I belave compile Vanspareny orl fe pres, Based on ‘canergton had whl! btw ramets login youn Hayden foto serve: hte woud woK Es ‘nd sheuls ecomplsh Bat I ink weve lin synobit ts vt more next week Psp note he newer ‘rns Thank you and hove a god weekend Const, Dave David Ban Preiont Neuntan Advent Popa vestments LLC Zra0 hr ne, Site R Steamboat Springe, CO 00407 iajsroavoss fen Sro-erosar+ isero.si. 1008 sSiamgreesecom Orginal Message From: Twana Sul [malto:sulins 4sdevBoma.com] ‘Sent: Fay, Api 20, 2007 12:45 PM. Tor avd Brun (ce Ron sis [td et ie) rete tan 3 Geiss "Tina Bradley” e244 dtcedeview~pt&th~11223145348befdesearchqu,. 8/13/2007Gimail- Server and Sofware Page 3 of 3 David P, Brun! (dbruni@mapie.com) vet De (dbruni@mepite.om) Bll Grissom “Tuo, Apr 24,2007 at 8:17 Al ‘Tor Dave Brun sdtron@mapsecom> ok (etd tit ‘ngpfnail,google.comnal7ik=e24414facedview=pudth= 11223145348 13/2007From: Jans forjonachotnal Sent Nonay, Ap 92007891 Yor Ateuniimepte som Btbjoot ‘confront Dave- Here is the info needed for tomorrows ednference call: Dial in is 866-905-8883, Passcode is 8701313, Leader PIN is 8685 ‘Bxereise your braal Try Flexicon, |ntip://gnmes.msn.comlen/fexicon/defaulthtmticidexicon_hmemslteglineapit07‘Gmail - MAPI Sales, Marketing and Production Meeting for Lake Village Page | of2 Gmail meee om bil@gmalLeon> wae) MAPI Sales, Marketing and Production Meeting for Lake Village 2rmessages eve brunt cabruni@mapticon > “tna, Ape 20,2007 0:00 Pm ‘To: Bon Anderson , Don Anderson , BGrssom@aluevetureso com, John Price , Paul Doughty “phacisbalis. com>, Paul Doughty -pssughtyqabaltis con, Ren Sls sronelsmaliyaneoizom>, "get A, Jahnsan (Roger A dehnson Gentlemen: Roget, Justin, John and I met today. Here's an update on Lake Village. + Agreements were reached onthe remaining loose ends on product pricing. # There are approx. 45 reservations for 75 lots at ths time [11 were sold from the auction) specified base unit peeing «Fall 45 reservations were to convert to contract {end qualify for mortgages) that take our production through February 2008. ‘+ Fuqua is not locking prices beyond wh decisions were reached: ‘As such, the flo ‘+ No more reservations are going fo be taken, Going forward a waiting list wil be ereated. ‘© Marketing effort to focus on converting the existing reservations to contrat, 1 Once the reservations ae cleared: © Pricing will be reassessed © Future buyers wil go direct to contract [no more reservations for this filing] and mortgage application, ‘The first home is due tobe delivered approx. 5/10, Please forward this tothe ater partners, efor me. Until my new po gets here I can't acoess their ‘nual adresses in my eletroni adress book. due to formatting issues. ‘Thank you. Conall, Dave David P, Brust President Mountain Adventure Property Investments, LLC 2740 Acre Lane, Suite A Steamboat Springs, CO 80487 [o} 970.870.1313, [tex] 970-870-1311 ‘agp google.convinail/ik-e2441Afacedview=pléth=112333dec68aRRdRAsearcq.. 8/13/2007imi - MAPI Sales, Marketing a Production Meeting for Lake Village Page 2 of 2 [e] 970-819-1935 adbeunig@mepilescom [2 Bev? Ba brant@mape comet il Grissom Fl Apr 27,2007 at 7:32 AM, ‘To: Paul Doughty , Randy Robinson , Bob Keys (Oth is [) Rev? Ban cbrent@mapie comet ‘ntp://mil google.conviailfik~e244 Aface&view~pl&th=112333dce68af8d8&search-q... 8/13/2007