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Real Property Mortgage & Investment Company, Inc. <br />1502 Augusta Suite 100 Houston, Texas 77057 <br />Telephone: 713.882.7171 <br />March 20, 2012 <br />Mr. Knox Askins <br />Askins & Askins P.C. <br />La Porte, Texas <br />RE: Our Conversation Yesterday <br />Dear Mr. Askins: <br />Facsimile: 713.470.2107 <br />Via Email: knoxaskins(a,comcast.net <br />In reference to our conversation Monday, I would like to restate our desire to work with the City of La <br />Porte to recapture the original vision of Five Points. As you know we are the first lien holders on the <br />properties that adjoin the park by virtue of our loan to East A Development, LLC (aka Garson <br />Silvers), and that these loans have been in default for an extended period of time, the property is in <br />disrepair and the real property taxes are overdue. <br />It is our intent to foreclose upon our liens and take possession of the underlying assets — but in our <br />opinion this is where our relationship with the City of La Porte begins, not ends, as we move forward <br />to secure these properties by paying the past due RE taxes and making these assets ready to sale. It is <br />our intent to market these properties as a single unit and to garner an end sales price that would allow <br />us to recapture our investment, the expenses and a portion of our past dues which we envision would <br />still allow us to allocate some of the sales proceeds to acquire the promissory note held by the City for <br />monies advanced to East A Development secured by a junior lien position by these same [or some of <br />these same) properties. <br />We are currently working with an agent for the sales listing in preparation of the upcoming <br />foreclosure date in April, and based upon our preliminary conversation and research that we have <br />performed we feel that our goal is achievable. <br />Please feel free to share this letter with the City of La Porte or any other interested party, and I will <br />keep you advised as to our progress, since it is my intent to develop our relationship and be a good <br />corporate citizen of the La Porte community. <br />Thank you. <br />Sincerely, <br />Ronald Drew Piperi <br />President <br />