Law Offices HOEGEN & MARSH 23 North River Street WILKES-BARRE, PENNSYLVANIA 18701 December 2, 1992 JOHN SELLINGER, ESQUIRE MATTIONI, MATTIONI & MATTIONI 399 MARKET STREET 2ND FLOOR PRILADELPHIA, PA 19106 Via Fax (215) 923-2227 RE: C.B.G. Limited Dear John: Please recall our telephone conversation of November 30, 1992 wherein you inquired as to the status of the funding for C.B.G. Limited. Presently, C.B.G. has received a letter of intent from Fuji to C.B.G. and its affiliates in an amount of $30,000,000.00. The letter of intent is contingent upon confirming certain accounting information. Upon confirmation, a formal commitment letter will be issued. Fuji is reviewing the accounting and financial information of the Debtor. It is our hope that, in fact, the numbers will be confirmed and a letter of commitment will be issued shortly. Naturally, in the event the Fuji deal or some other funding source is located, the Debtor and its affiliates will be in a position to restart its development activities and better respond to the complaints of certain property owners concerning water pressure in Valley of the Lake. I trust this correspondence answers your inquiry as to the status of the Debtors' efforts in seeking funding. In the event you have any further questions or comments, please do not hesitate to contact me. Very truly yours, /s/ Francis J Hoegen FJH/paa cc: Frank M. Cedrone Peter J. Hoegen, Jr., Esq.
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