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WESLEY-SMITH: Thank you, so just some quick background about the developer. Do you know <br /> the name of the original developer for the project? <br /> VITOUSEK: The original developer was 1250 Oceanside Partners. <br /> WESLEY-SMITH: And do you know anything about what that entity was. <br /> VITOUSEK: Never had any involvement with them, but my understanding is that it was a real <br /> estate developer from Scottsdale Arizona named Lyle Anderson in partnership with Japan Airlines. <br /> WESLEY-SMITH: Does Oceanside have any relationship to that original developer? <br /> VITOUSEK: We do not. <br /> WESLEY-SMITH: Does the original developer have any continuing involvement with the project? <br /> VITOUSEK: They don't. <br /> WESLEY-SMITH: So, we're talking about two ordinances here, 96-7, 96-8, and then a <br /> development agreement, but were those obtained by the original developer. <br /> VITOUSEK: Yes, they were. <br /> WESLEY-SMITH: So, after the original developer obtained those ordinances and the development <br /> agreement, did it run into problems with developing Hokuli'a? <br /> VITOUSEK: Oh, absolutely. <br /> WESLEY-SMITH: What were some of those problems? <br /> VITOUSEK: Well as some of the public testifiers mentioned, there was a lawsuit that shut the <br /> project down, centered on the protection of natural and cultural resources. <br /> WESLEY-SMITH: Did the original developer run into financial problems? <br /> BAILEY: Objection to relevance. <br /> VITOUSEK: There was massive financial problems that were created by the global financial crisis <br /> in 2008. <br /> WESLEY-SMITH: Okay, we'll try to go quickly. What ultimately happened to the original <br /> developer after these legal problems and financial problems? <br /> VITOUSEK: They lost control of the project. The bank who they borrowed from foreclosed on <br /> the original developer, replaced the developer with an asset management company. <br /> WESLEY-SMITH: Okay and what did that mean for the physical project and for—you know, the <br /> community while these problems were happening. <br /> VITOUSEK: Basically, the project sat idle in mothball status for number of years. <br /> WESLEY-SMITH: Okay and Oceanside came into control of Hokuli'a in around 2014, is that <br /> correct? <br /> EXHIBIT B <br /> Page 11 <br />