Court Hearing January 15, 08'

[Michael]

The hearing took place this morning at 10:00 at the Federal Courthouse
in Tampa, Florida. Present were all the parties respective Lawyers
and Bill Martin personally. The Gulvins and Karl Thomas were not in
attendance. There were numerous people from the Park in support of
their interests attending and someone sitting with Martin who I do not
know. More negotiation took place. A plan was placed up for acceptance
by the Court with Martin having three more days to amend his approval
in one small area.
All other parties have agreed.

Martins changes must be submitted in three days time. Any and all
objections to Martins allowed changes will have to be filed by
February 5 and will be dealt with on February 7, when the plan will be
officially accepted. It is agreed that the owners of the combined 4
parcels of land making up this argument will sign quit claim deeds and
pass them to the Courts liquidator. The parcels will be put up for
sale, with a strike price [minimum price]. All offers must be tendered
by March 1st and any offer then accepted must be paid in full and
closed by April 1st.

Any property not sold will be returned to the owner of record and the
matter is then over.
Should this plan not get done this time it is very apparent the Banko
Court will set a trial date and settle the matter on the evidence as
to who owns what.

Michael T.
ww.Fairwindlakes.com

[Michael]

This did not take long .... apparently the same day as Martin agreed
to the setttlement plan he went home and changed his mind again. Looks
like we do not have an agreement afterall.

Looks like ole' Billy boi has notified Gulvin and Thomas that he is
renegging on the January 15, 2008, agreement he signed to settle this
matter. Hard to say what the Judge will say about Martin's refusal to
settle at this point, which is nearly 5 [five] years into this debacle
and 1 1/2 years after he files the Chapter 11, Banko.

The residents have voted to become pro-active and submit several
briefs as friends of the Court, to have Martin placed into Chapter 7
Bankruptcy and be done with this. In addition we will ask the Court to
award $1,000 per month to the actual residents who are buying all the
macheinery, paying all the maintenance costs, rebuilding all the
buildings, buying all the fuel, maintaining all the roads and
providing all the labor and vehicles to clean up and maintain this
Park so it is fit to reside in for almost 5 years now.

Sorry Billy, the dam has burst .. no more Mr. nice guys here. The next
hearing is on February 7, 2008.

Michael T.
www.Fairwindlakes.com