Exhibit 3.1
AMENDMENT NO. 2 TO DECLARATION OF TRUST
OF CATSKILL LITIGATION TRUST
THIS AMENDMENT NO. 2 is made by and among the Litigation Trustees and the
beneficiaries under the Declaration of Trust of Catskill Litigation Trust (the
"DECLARATION OF TRUST", as described below). Capitalized terms used herein shall
have the meanings ascribed to them in the Declaration of Trust, including the
amendments contemplated by this Amendment No. 2.
RECITALS:
WHEREAS, the Declaration of Trust was entered into as of January 12, 2004,
among Catskill Development, L.L.C., Mohawk Management, L.L.C., Monticello
Raceway Development Company, L.L.C., each a New York limited liability company,
and Empire Resorts, Inc., a Delaware corporation, as creators, and Joseph E.
Bernstein, residing at 6663 Casa Grande Way, Delray Beach, Florida 33446, Paul
A. deBary, residing at One White Birch Lane, Cos Cob, Connecticut 06807, and
Christiana Bank & Trust Company with a principal place of business at 1314 King
Street, Wilmington, Delaware 19801 and was amended by Amendment No. 1 dated as
of November 15, 2004; and
WHEREAS, the Litigation Trust and the Tribal Court Litigants (as defined
herein) have each sought redress in the courts from the same defendants for
their claimed damages resulting from the activities of such defendants in
interfering with certain contracts entered into by the St. Regis Mohawk Tribe in
connection with a project to develop a Native American casino in the Catskills
region of New York; and
WHEREAS, the beneficiaries of the Litigation Trust share a common interest
with the Tribal Court Litigants, the Litigation Trust has developed considerable
familiarity with the circumstances and legal issues involved in the claims made
by the Tribal Litigants, and the Litigation Trust has significant technical and
professional resources at its disposal which can be of great value to the Tribal
Court Litigants in pursuing their claims; and
WHEREAS, beneficiaries of the Litigation Trust have previously provided
significant financial support and other assistance to the Tribal Litigants in
the prosecution of their claims in the initial action in Tribal Court, as well
as in subsequent enforcement proceedings of a Default Judgment entered by the
St. Regis Mohawk Tribal Court against Park Place Entertainment Corporation and
its Executive Vice President and General Counsel, Clive Cummis; and
WHEREAS, the Litigation Trustees and the Tribal Court Litigants have
agreed to work together to merge their interests on the terms and conditions set
forth in the Joint Alliance Agreement, dated as of January 24, 2007 (the "JOINT
ALLIANCE AGREEMENT"), among Catskill Litigation Trust, Barbara Lazore and Phil
Tarbell, as representatives of the Tribal Court Litigants, and Barbara Lazore
and Lorraine White as Chiefs of the St. Regis Mohawk Tribe; and
WHEREAS, under the Joint Alliance Agreement, the Tribal Court Litigants
have agreed to an assignment of the Default Judgment to the Litigation Trust in
exchange for the issuance of units in the Litigation Trust to the St. Regis
Mohawk Tribal Court, as custodian for the benefit of the class (the "Class") of
plaintiffs entitled to the benefit of such claims as certified by such Court and
the Litigation Trustees have agreed to prosecute such claims, together with the
Litigation Trust's existing claims against the defendants, on behalf of all the
beneficial owners of such units, including the Class, in the manner provided in
the Joint Alliance Agreement; and
WHEREAS, the proper prosecution of such additional claims will involve the
enforcement of a judgment in one or more federal and state courts and may
require the expenditure of additional funds by the Litigation Trust derived from
available cash and the balance available under a letter of credit from Empire
Resorts, Inc. as well as funding commitments obtained from a number of
unitholders; and
WHEREAS, in order to reduce the current funding required in connection
with the expanded prosecution of the claims of the Litigation Trust the
Litigation Trust has entered into a contingent fee arrangement with Orrick
Herington & Sutcliffe to prosecute enforcement of the Default Judgment; and
WHEREAS, the Litigation Trust may require additional funds from time to
time, which may be derived from loans to the Litigation Trust from unitholders
or other lenders, or the issuance of units of beneficial interest in the
Litigation Trust to unitholders or third parties; and
WHEREAS, the expanded activities of the Litigation Trust will increase the
administrative responsibilities of the Litigation Trustee and involve
familiarity with the Tribal Court Litigants; and
WHEREAS, Dennis Vacco has recently conducted an investigation for the St.
Regis Mohawk Tribe concerning circumstances relating to the claims of the Tribal
Court Litigants and has had significant experience with the management of large
prosecutions as a member of the office of the United States Attorney and as
Attorney General of the State of New York; and
WHEREAS, Dennis Vacco has agreed to serve as a Litigation Trustee and Paul
A. deBary has agreed to resign as a Litigation Trustee and serve as Advisor to
the Litigation Trustees on the terms and conditions described herein; and
WHEREAS, the Declaration of Trust may be amended, modified or supplemented
by the Litigation Trustees in accordance with Section 9.3 of the Declaration of
Trust; and
WHEREAS, the Litigation Trustees now wish to amend the Declaration of
Trust, with such amendments to become effective as provided herein;
NOW THEREFORE, subject to Section 14 hereof, the Declaration of Trust is
hereby amended as follows:
SECTION 1. The definition of "Indemnified Person" in Section 1.1 is hereby
amended by striking the definition in its entirety and substituting the
following in place thereof:
"Indemnified Person" means (a) the Litigation Trustees and the
Litigation Trustee Advisor, any Affiliate of the Litigation Trustees and
the Litigation Trustee Advisor and any officers, directors, stockholders,
members, partners, employees, representatives, custodians, nominees or
agents of the Litigation Trustees and the Litigation Trustee Advisor; (b)
the Settlors, any Affiliate of the Settlors and any partners, employees,
representatives or agents of the Settlors; (c) the Administrative Trustee,
any Affiliate of the Administrative Trustee and any officers, employees,
representatives or agents of the Administrative Trustee and (d) any
officer, employee or agent of the Litigation Trust or its Affiliates.
SECTION 2. The definition of "Litigation Trustees" in Section 1.1 is
hereby amended by striking the definition in its entirety and substituting the
following in place thereof:
"Litigation Trustees" means, prior to the effective date of
Amendment No 2 to this Declaration of Trust, Joseph Bernstein and Paul
deBary, and, subsequent to the effective date of Amendment No. 2, Joseph
Bernstein and Dennis Vacco or any of their respective successors hereunder
acting as Trustees pursuant to Article III hereof.
SECTION 3. The definition of "Litigations" in Section 1.1 is hereby
amended by striking the definition in its entirety and substituting the
following in place thereof:
"Litigations" means (1) the lawsuit entitled Catskill
Development, L.L.C., Mohawk Management, L.L.C., and Monticello Raceway
Development Company, L.L.C. vs. Park Place Entertainment Corporation
(Civil Action No. 00 CIV 8660 in the United States District Court for the
Southern District of New York), which is presently on appeal, (2) the
lawsuit entitled Catskill Development, L.L.C., Mohawk Management, L.L.C.,
and Monticello Raceway Development Company, L.L.C. vs. Gary Melius, Ivan
Kaufman, Walter Horn, President R.C. - St. Regis Management Company (Index
No. 891/03 Supreme Court of the State of New York, County of Sullivan),
which was filed in April 2003, (3) the lawsuit commenced by the Tribal
Court Litigants against Park Place Entertainment Corporation et. al. in
the St. Regis Mohawk Tribal Court and designated as Case number
00CI01333GN, and any enforcement action with respect to the enforcement of
any judgment therein, whether in a federal, state or tribal court (the
"Tribal Claims") and (4) any similar actions or proceedings that the
Litigation Trust, or the Litigation Trustees on behalf of the
beneficiaries thereof, may bring against any of the defendants in said
lawsuits relating to the acts and circumstances involved in these lawsuits
pursuant to the Claims.
SECTION 4. The following definition shall be added to the definitions in
Section 1.1 in the appropriate alphabetical location:
"Class" means the class of plaintiffs certified by the St.
Regis Mohawk Tribal Court in the lawsuit commenced by the Tribal Court
Litigants against Park Place Entertainment Corporation et. al. and
designated by said Tribal Court as Case number 00CI01333GN.
SECTION 5. The following definition shall be added to the definitions in
Section 1.1 in the appropriate alphabetical location:
"Expenses" shall include any fees, costs or expenses for or in
connection with attorneys, stenography, recording, experts, research and
analysis, document retention, production and management, public relations,
investigations, budgeting, accounting, financing, insurance,
administration and general management and any similar charges incurred for
the purposes of this Litigation Trust, including principal, interest and
other charges in connection with any third party borrowing by or on behalf
of the Litigation Trust and repayments of advances and interest for any
loans or advances, costs of Litigation Trustees' and Administrative
Trustee's liability insurance and any filing or other court charges in
connection with the Litigations. . The term Expenses shall include amounts
payable to JAF Management, LLC, for consulting services under a letter
agreement with the Litigation Trust, dated January 24, 2007, in the amount
of 3% over any recovery or settlement exceeding $200,000,000.
The following definition shall be added to the definitions in Section 1.1 in the
appropriate alphabetical location:
"Litigation Trustee Advisor" means Paul A. deBary.
SECTION 6. The following definition shall be added to the definitions in
Section 1.1 in the appropriate alphabetical location:
"Tribal Court Litigants" means the Class and the named
plaintiffs Marlene Arquette, Dick Peters, Bennette White, Louis Gray, Roy
Tarbell, David Lazore, Troy Lazore, Henry Gibson, Matt David, Randy
Connors, Julius D. Herne, Patty Lazore Mancuso, Noel White, Carolyn
Tarbell, Ellen Herne, Glenn Hill, Sr., Barbara Lazore, Phil Tarbell,
Kerney Cole, Mary Dianne Lazore, Russell Lazore, Joanne King, Rena Smoke,
estate of Charlie Terrance, Irma White Moore, Lois Thomas, Carol Herne and
Brian Garrow, and their respective successors, assignees, administrators,
agents, estates and heirs.
SECTION 7. The first paragraph of Section 2.1 shall be numbered (A) and a
new paragraph shall be added to such Section to read as follows:
(B) Pursuant to the Joint Alliance Agreement, dated as of January
24, 2007, between the Litigation Trust, a Delaware Trust, Barbara Lazore
and Phil Tarbell, as representatives of the Tribal Court Litigants and
Barbara Lazore and Lorraine White as Chiefs of the St. Regis Mohawk Tribe,
a federally recognized Indian Tribe, the Tribal Court Litigants have
transferred to the Litigation Trust all right, title and interest of the
Tribal Court Litigants in and to certain Tribal Claims to the Litigation
Trust as provided in such agreement. In exchange therefore the Unitholders
have approved the issuance of 21,912,869 Units to the St. Regis Mohawk
Tribal Court, for the benefit of the Class, representing 50% of all
outstanding Units. Such Tribal Claims shall constitute a part of the Trust
Estate hereunder.
SECTION 8. In Section 2.3, entitled "Payment of Expenses and Other
Withdrawals from the Expense Account," subsection (b) is hereby deleted in its
entirety and replaced with the following:
(b) The Administrative Trustee shall make payments out of the
Expense Account upon (i) the written direction of one of the Litigation
Trustees as of the first business day of each calendar quarter to pay the
quarterly fees of the Litigation Trustees, the Litigation Trustee Advisor
and the Administrative Trustee as set forth in Section 3.6 (a) and Section
3.7, respectively, and (ii) written direction signed by one of the
Litigation Trustees with respect to expenses set forth in the Budget
(provided that the Litigation Trustee shall specify in the written
direction the line item of the Budget that includes such expense) and by
both Litigation Trustees with respect to all other expenses. The
Administrative Trustee shall have no obligation to verify that the amounts
so requisitioned are to be used for the Purposes of the Litigation Trust.
Anything to the contrary herein notwithstanding, the Litigation Trustees
may, at any time and from time to time, direct the Administrative Trustee
to pay any Expense of the Litigations or apply to or for the benefit of
Beneficiaries so much or the entire principal of the Expense Account, as
the Litigation Trustees, in their sole discretion, may deem advisable,
which payments and applications shall be absolute and free from the
Litigation Trust and the application and advisability of such payments
shall be final and conclusive upon all Persons who may be interested or
may become interested in the Litigation Trust, and upon making such
payments or applications, the Administrative Trustee and all Litigation
Trustees shall be fully released and discharged from all further liability
or accountability therefor.
SECTION 9. In Section 2.4, entitled "Deposits to and Distributions from
the Recovery Account," subsection (a) FIRST is hereby deleted in its entirety
and replaced with the following:
FIRST: An amount necessary to pay the Litigation Trustees and
the Litigation Trustee Advisor the fees for their services as former or
current Litigation Trustees as set forth in Section 3.6(b).
SECTION 10. In Section 3.1, entitled "Responsibilities and Powers of the
Litigation Trustees," subsection (a) is hereby deleted in its entirety and
replaced with the following:
(a) Except as specifically provided in this Declaration of
Trust, prior to the effective date of Amendment No 2 to this Declaration
of Trust, Joseph Bernstein and Paul deBary, and, subsequent to the
effective date of amendment No. 2, Joseph Bernstein and Dennis Vacco,
serving as the Litigation Trustees, and their respective successors shall
have exclusive and complete authority to carry out the Purposes of the
Litigation Trust. All matters to be decided by the Litigation Trustees
shall be decided by the unanimous vote of the Litigation Trustees. In the
event that the Litigation Trustees cannot unanimously agree on a matter,
they shall advise their designated successors hereunder who will then
choose a third person and the majority vote of the Litigation Trustees and
the third person so chosen voting together shall decide such matter.
Meetings of the Litigation Trustees may be held in person or by telephone
conference call. The Litigation Trustees may hold such meetings from time
to time without notice and shall not be required to keep any record of
such meetings. The Litigation Trustees shall be responsible for the
compliance of the Litigation Trust with the provisions of the Code, but
shall have no duty hereunder to render any particular accounting for the
Litigation Trust to the Beneficiaries. The Litigation Trustees shall have
all the powers necessary and appropriate to prosecute the Litigations and
administer the Litigation Trust, including the power to make draws on the
Line of Credit, and to enter into other arrangements to borrow or
otherwise raise funds to pay the Expenses of the Litigation Trust,
including by issuing additional Units, the power to bind the Litigation
Trust, enter into any and all manner of contracts as the Litigation
Trustees, in their sole and absolute discretion, shall deem necessary,
appropriate or convenient for the Purposes of the Litigation Trust,
including any settlement or compromise agreement regarding any Claims as
they shall determine appropriate in their sole discretion.
SECTION 11. Section 3.5, entitled "Death or Resignation of a Litigation
Trustee" is hereby deleted in its entirety and replaced with the following:
By delivery of a written notice to the Administrative Trustee,
any Litigation Trustee may resign as Litigation Trustee. In the event of
the death or resignation of Joseph Bernstein, a successor Litigation
Trustee shall be appointed by Ralph Bernstein. In the event of the death
or resignation of Dennis Vacco, a successor Litigation Trustee shall be
appointed by Robert Berman.
SECTION 12. Section 3.6, entitled "Expenses and Fees of Litigation
Trustees" is hereby deleted in its entirety and replaced with the following:
(a) Each Litigation Trustee and the Litigation Trustee Advisor
shall be entitled to reimbursement of any Expenses incurred in carrying
out the Purposes of the Litigation Trust, including telephone, mail and
messenger, travel, conference, meeting, research and other administrative
and office expenses not paid for directly by the Litigation Trust and, in
addition to the fees provided for in Section 3.6(b), each Litigation
Trustee and the Litigation Trustee Advisor shall also receive compensation
for his services equal to $5,000, per month, in accordance with the terms
of this Declaration of Trust, to the extent there are funds available. In
the event of the resignation or death of a Litigation Trustee or the
Litigation Trustee Advisor, the fees and expenses payable to such
Litigation Trustee or Litigation Trustee Advisor pursuant to this Section
3.6(a) shall be payable for services actually rendered up to the date of
such event of resignation or death and paid in the ordinary course as and
when the other Litigation Trustees receive payment of their fees and
expenses under this Section 3.6(a).
(b) In addition to the fees provided for in Section 3.6(a),
Joseph Bernstein and Dennis Vacco shall receive compensation for their
services as Litigation Trustees equal to 4% and 2%, respectively, and Paul
deBary, in consideration for services previously rendered as a Litigation
Trustee, shall receive compensation of 1%, of the total amount deposited
into the Recovery Account in accordance with the terms of this Declaration
of Trust, to the extent there are funds available. In the event of the
resignation or death of a Litigation Trustee, the fees payable to such
Litigation Trustee pursuant to this Section 3.6(b), if any, shall be pro
rated for time served as a Litigation Trustee between the resigned or
deceased Litigation Trustee and his successor Litigation Trustee(s) and
the amount payable to such resigned or deceased Litigation Trustee shall
be paid to the Litigation Trustee or his estate in the case of a deceased
Litigation Trustee; provided, however that in the case of the resignation
or death of Joseph Bernstein, the portion of the fee to be pro-rated shall
be equal to 1% of the total amount deposited into the Recovery Account and
Joseph Bernstein or Joseph Bernstein's estate, as the case may be, shall
continue to be entitled to receive an amount equal to 3% of the total
amount deposited into the Recovery Account.
SECTION 13. The following Section 3.11 shall be added as follows:
Section 3.11. ADDITIONAL FUNDS. The Litigation Trustees may,
in their sole discretion, borrow additional funds on such terms as they,
in their sole discretion deem appropriate, and may issue additional Units
in the Litigation Trust in exchange for additional funds, having such
rights and privileges and on such other terms and conditions as they, in
their sole discretion deem advisable, in each case for the purpose of
prosecuting the Litigations.
SECTION 14. Section 5.1, entitled "Units" is hereby deleted in its
entirety and the following substituted in lieu therefore:
Section 5.1. Units. Except as may be otherwise provided in the case
of additional Units issued pursuant to Section 3.11, each Unit represents
a fractional ownership interest in the Claims, and all Units shall be on a
pari-passu basis, without preference or priority of any kind, and shall be
equally entitled to the benefits of this Declaration of Trust. The
Beneficiaries, the respective number of Units owned by each Beneficiary
and their respective pro-rata share of the Claims is based on each
Beneficiary's percentage ownership interest in the Litigations and is set
forth on Schedule I hereto.
SECTION 15. Paragraph (e) of Section 6.1, entitled "Limitation on Rights
of Beneficiaries" is hereby deleted and the following is hereby substituted in
lieu thereof:
(e) the liability of the Litigation Trustees, the Litigation Trustee
Advisor, the Administrative Trustee and Settlors is limited to the extent
set forth in Article VII hereof.
SECTION 16. Section 7.1, entitled "Liability" is hereby deleted in its
entirety and the following substitute in lieu therefore:
Section 7.1. Liability.
(a) Except as expressly set forth in this Declaration of Trust, the
Trustees and the Litigation Trustee Advisor shall not be:
(i) personally liable for the payment of any amounts, including,
without limitation, amounts payable pursuant to Section 2.4, to the
Beneficiaries, which payment shall be made solely from the Litigations, if
there are any proceeds distributed to the Litigation Trust therefrom and
other assets of the Litigation Trust, if any; or
(ii) required to pay to the Litigation Trust or to any Beneficiary
any deficit upon dissolution of the Litigation Trust or otherwise.
SECTION 17. In Section 9.1, entitled "Notices," the contact information
for the law firm of Olshan Grundman Frome Rosenzweig & Wolosky LLP in subsection
(a) is hereby deleted in its entirety and replaced with the following:
Olshan Grundman Frome Rosenzweig & Wolosky LLP
65 East 55th Street
New York, New York 10022
Attention: Robert H. Friedman, Esq.
Facsimile: (212) 451-2222
SECTION 18. In Section 9.1, entitled "Notices," a new subsection (b)(iii)
is added:
Dennis Vacco
P.O. Box 843
Hamburg, N.Y. 14075
Facsimile: 518-463-6148
SECTION 19. Section 9.3, entitled "Amendments" is hereby deleted in its
entirety and replaced with the following:
AMENDMENTS. This Declaration of Trust may be amended, modified
or supplemented by the Litigation Trustees in accordance with this Section
9.3. In the event the Litigation Trustees desire to amend, modify or
supplement this Declaration of Trust, the Litigation Trustees shall give
written notice to the Beneficiaries (the "Amendment Notice") briefly
describing any amendment, modification or supplement and the procedures
for objecting to such amendment, modification or supplement. If
Beneficiaries holding less than thirty (30%) percent of the aggregate
number of the then outstanding Units object to such amendment,
modification or supplement on or before the 25th day after the date of the
Amendment Notice, then such amendment, modification or supplement shall
become effective on such 25th day. If Beneficiaries holding thirty (30%)
percent or more of the aggregate number of the then outstanding Units
object to such amendment, modification or supplement on or before the 25th
day after the date of the Amendment Notice, then such amendment,
modification or supplement shall become effective only upon the written
consent of Beneficiaries holding at least fifty-one percent (51%) of the
aggregate number of the then outstanding Units. Notwithstanding the
foregoing, (i) the Litigation Trustees may amend, modify or supplement
this Declaration of Trust without the consent of any Beneficiaries (x) to
cure any ambiguity, defect or inconsistency or (y) to amend Schedule I for
any Units issued pursuant to Section 3.11 and (ii) no amendment,
modification or supplement may be made that adversely affects the legal
rights of the Administrative Trustee without the consent of the
Administrative Trustee. The Administrative Trustee shall sign any
amendment, modification or supplement authorized pursuant to this Section
9.3.
SECTION 20. Restated Schedule I to the Declaration of Trust shall be
amended and restated in its entirety by Second Restated Schedule I, a copy of
which is attached hereto and made a part hereof.
SECTION 21. This Amendment No. 2 shall take effect in accordance with
Section 9.3 of the Declaration of Trust; but only on condition that the claims
of the Tribal Court Litigants have been duly and properly assigned to the
Litigation Trust in accordance with the Joint Alliance Agreement and such
assignment has been approved by the St. Regis Mohawk Tribal Court.
SECTION 22. This Amendment No. 2 shall be governed and construed in
accordance with the laws of the State of Delaware applicable to agreements made
to be performed within such State without regard to applicable principles of
conflicts of law.
SECTION 23. This Amendment No. 2 may be executed in multiple counterparts,
each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument.
SECTION 24. Except as expressly amended hereby, the Declaration of Trust
shall remain unchanged and in full force and effect.
SECTION 25. The Administrative Trustee shall not be responsible in any
manner whatsoever for or in respect of the validity or sufficiency of this
Agreement No. 2 or for or in respect of the recitals contained herein, all of
which recitals are made solely by the Litigation Trust.
[Signature Page Follows]
[SIGNATURE PAGE TO AMENDMENT NO. 2
TO DECLARATION OF TRUST OF CATSKILL LITIGATION TRUST]
IN WITNESS WHEREOF, the Litigation Trustees have caused this Amendment No.
2 to be duly executed as of the date set forth below.
Date: June 15, 2007
LITIGATION TRUSTEES
/s/ Joseph E. Bernstein
--------------------------------------
Joseph E. Bernstein
/s/ Paul A. deBary
------------------------------
Paul A. deBary
Accepted:
/s/ Dennis Vacco
- ---------------------
Dennis Vacco
10
[CHRISTIANA BANK & TRUST COMPANY SIGNATURE PAGE TO AMENDMENT NO. 2 TO
DECLARATION OF TRUST OF CATSKILL LITIGATION TRUST]
CHRISTIANA BANK & TRUST COMPANY,
not in its individual capacity but solely
as Administrative Trustee
By: /s/ James M. Young
-------------------------
Name: James M. Young
Title: Vice President
11
SECOND RESTATED SCHEDULE I
LIST OF BENEFICIARIES
- ------------------------------------------------------------
NAME NUMBER OF UNITS
- ------------------------------------------------------------
JOSE ALBERNI 20
- ------------------------------------------------------------
CATHERINE ALT 500
- ------------------------------------------------------------
WALTER D AMES & MARION L AMES 20
- ------------------------------------------------------------
DONALD APPEL 200
- ------------------------------------------------------------
THOMAS W ARO 3,000
- ------------------------------------------------------------
THOMAS W ARO 1,000
- ------------------------------------------------------------
GUNTHER ARZBERGER 22,597
- ------------------------------------------------------------
AVON ROAD PARTNERS LP 1,693,702
- ------------------------------------------------------------
LAURA BAKER 500
- ------------------------------------------------------------
BALANCE CERTIFICATE REPRESENTING THE
UNEXCHANGED SHARES OF EMPIRE RESORTS 100,261
- ------------------------------------------------------------
CHARLES BANACOS 11,793
- ------------------------------------------------------------
WILLIAM BARD 22,597
- ------------------------------------------------------------
BAYLAND HOLDINGS LIMITED 927,367
- ------------------------------------------------------------
NANCY R BAZILIAN 100
- ------------------------------------------------------------
BELVIEW INVESTMENTS LIMITED 12,500
- ------------------------------------------------------------
LEO BENAVIDEZ 200
- ------------------------------------------------------------
SHLOMO BEN-HAMOO 2,260
- ------------------------------------------------------------
SHLOMO BEN-HAMOO 285
- ------------------------------------------------------------
ROSEANN BENSLEY 20
- ------------------------------------------------------------
GLADYS R BENSON & STANLEY BENSON 100
- ------------------------------------------------------------
CLAIRE BERMAN 10,199
- ------------------------------------------------------------
BERMAN LIVING TRUST DATED 2-11-00 240,308
- ------------------------------------------------------------
R SCHORR BERMAN & DONNA K FAIRSERVICE 5,199
- ------------------------------------------------------------
ROBERT BERMAN 2,112,973
- ------------------------------------------------------------
SHORR BERMAN & DONNA FAIRSERVICES 5,000
- ------------------------------------------------------------
JOSEPH BERNSTEIN 2,250,543
- ------------------------------------------------------------
RALPH BERNSTEIN 2,250,543
- ------------------------------------------------------------
BRIAN BERTOLINI 111
- ------------------------------------------------------------
BURTON BLOOM 11,298
- ------------------------------------------------------------
BURTON BLOOM 1,425
- ------------------------------------------------------------
JOHN R BOGGS 1,182
- ------------------------------------------------------------
JOSHUA G BONILLA 30
- ------------------------------------------------------------
SHIRLEY BOWLAND 10,000
- ------------------------------------------------------------
DONNA BRADBURY 300
- ------------------------------------------------------------
13
- ------------------------------------------------------------
NAME NUMBER OF UNITS
- ------------------------------------------------------------
JAMES M BROWN 15
- ------------------------------------------------------------
CATHERINE F CAOUETTE 200
- ------------------------------------------------------------
RONALD J CAOUETTE 200
- ------------------------------------------------------------
ROBERT CARLETON 15,625
- ------------------------------------------------------------
PHILLIP CARTER 643,012
- ------------------------------------------------------------
STATE CONTROLLER 204
- ------------------------------------------------------------
CATSKILL HOLDING GROUP LLC 300,000
- ------------------------------------------------------------
SHAYN CAUL 725
- ------------------------------------------------------------
CAYUGA NATION OF NEW YORK 300,000
- ------------------------------------------------------------
CEDE & CO (FAST) 5,920,002
- ------------------------------------------------------------
CHAMPION COMMUNICATIONS LTD 12,500
- ------------------------------------------------------------
LUBY CHOKA 20
- ------------------------------------------------------------
NYDIA COLLAZO 50
- ------------------------------------------------------------
JANICE COMELIO 100
- ------------------------------------------------------------
COMINDUSTRIAS PANAMA S A 1,100
- ------------------------------------------------------------
JOSEPH F CONTE & FRANCES M CONTE 18
- ------------------------------------------------------------
ANTHONY COTTONE & GRACE COTTONE 20
- ------------------------------------------------------------
ROBERT COVELLO 23
- ------------------------------------------------------------
DARYL CRAMER 5,649
- ------------------------------------------------------------
KENNETH CRAMER 11,298
- ------------------------------------------------------------
KEVIN J CRAWLEY & CONCETTA A CRAWLEY 20
- ------------------------------------------------------------
JEFFREY CROWLEY 500
- ------------------------------------------------------------
JEFF B CROWLEY 2,000
- ------------------------------------------------------------
DONNA F CRUMP 130
- ------------------------------------------------------------
RICHARD CUSSON 20
- ------------------------------------------------------------
EZRA DABAH 25,000
- ------------------------------------------------------------
RENEE DABAH 2,500
- ------------------------------------------------------------
PHILIP DATLOFF 135,581
- ------------------------------------------------------------
MARTHA DE ANFRASIO & DOMINIQUE DE
ANFRASIO 500
- ------------------------------------------------------------
EDWARD G DEBARY 1,000
- ------------------------------------------------------------
PAUL DEBARY 126,348
- ------------------------------------------------------------
PAUL DEBARY 24,998
- ------------------------------------------------------------
PAUL DEBARY 27,103
- ------------------------------------------------------------
LOUIS DEMURO & MARION DEMURO 50
- ------------------------------------------------------------
MARY ANN DRAGO 45
- ------------------------------------------------------------
THE EDELWEISS CONDOMINIUM 5,000
- ------------------------------------------------------------
CLIFFORD EHRLICH 250,512
- ------------------------------------------------------------
BURTON EISENBERG 1,000
- ------------------------------------------------------------
ENROLLED MEMBERS OF THE SAINT REGIS
MOHAWK TRIBE IN THE CUSTODY OF THE
SAINT REGIS MOHAWK TRIBAL COUNCIL 21,912,869
- ------------------------------------------------------------
WILLIAM FERREIRA 50
- ------------------------------------------------------------
14
- ------------------------------------------------------------
NAME NUMBER OF UNITS
- ------------------------------------------------------------
FOX-HOLLOW LANE LLC 31,991
- ------------------------------------------------------------
SANFORD FREEDMAN 5,000
- ------------------------------------------------------------
DOLORES GADSHIAN 300
- ------------------------------------------------------------
PAMELA GARJIAN EX U/W RICHARD GARJIAN 15
- ------------------------------------------------------------
GARLAND BUSINESS CORPORATION 927,367
- ------------------------------------------------------------
MICHELE GERMAN 200
- ------------------------------------------------------------
SUSAN DAVIDA GIBBONS 250
- ------------------------------------------------------------
DONALD G GLASCOFF JR 6,250
- ------------------------------------------------------------
SHAUL GOLAN 17,000
- ------------------------------------------------------------
STEPHEN GOLDENBERG 37,285
- ------------------------------------------------------------
CHARLES G GOLDMAN 3,300
- ------------------------------------------------------------
ANDREW J GREEN 5,000
- ------------------------------------------------------------
ANDREW J GROVEMAN 5,000
- ------------------------------------------------------------
SURILDA HANKS 5,000
- ------------------------------------------------------------
JOSEPH E HARRIS 5,000
- ------------------------------------------------------------
JUANITA HENSLEY & GILBERT HENSLEY 1
- ------------------------------------------------------------
HOSPITALITY INVESTORS LLC 11,452
- ------------------------------------------------------------
CHUCK D HUNDLEY 37,156
- ------------------------------------------------------------
DYLAN HUNDLEY 45,000
- ------------------------------------------------------------
GREG HUNDLEY 2,500
- ------------------------------------------------------------
JOAN HUNDLEY 11,500
- ------------------------------------------------------------
KELLI HUNDLEY 10,000
- ------------------------------------------------------------
SANDRA HUNDLEY 10,000
- ------------------------------------------------------------
TYLER WINFIELD HUNDLEY TRUST 5,000
- ------------------------------------------------------------
W DION HUNDLEY 10,199
- ------------------------------------------------------------
WANDA HUNDLEY 5,110
- ------------------------------------------------------------
FRANK IACOVELLA & DONNA IACOVELLA 50
- ------------------------------------------------------------
ROBERT M JAMES 50
- ------------------------------------------------------------
JAPANESE KARATE ACADEMY 71
- ------------------------------------------------------------
ROGER L JOHNSON SR & CAROL J JOHNSON 150
- ------------------------------------------------------------
KANIEWSKI FAMILY LIMITED PARTNERSHIP 216,935
- ------------------------------------------------------------
SCOTT KANIEWSKI 125,736
- ------------------------------------------------------------
RODNEY A KAUFMAN 10
- ------------------------------------------------------------
PETER KEFALAS 100
- ------------------------------------------------------------
KFP TRUST 263,108
- ------------------------------------------------------------
DWIGHT LANDBERG 100
- ------------------------------------------------------------
THE LINCOLN TAX ADVANTAGE LP 6,700
- ------------------------------------------------------------
GORDAN MACLANNAN JR 500
- ------------------------------------------------------------
15
- ------------------------------------------------------------
NAME NUMBER OF UNITS
- ------------------------------------------------------------
JOSEPH MALLOY 40
- ------------------------------------------------------------
JOSEPH F MALLOY 265
- ------------------------------------------------------------
MANHATTAN DEVELOPMENT CORP 55,631
- ------------------------------------------------------------
GEORGE MANNING 10
- ------------------------------------------------------------
SALVATORE MARCUCCILLI 500
- ------------------------------------------------------------
LAURIE MARCUS 100
- ------------------------------------------------------------
LEON MASON 20
- ------------------------------------------------------------
ANNRITA MAYER 3,900
- ------------------------------------------------------------
JAMES J MC CANN 20
- ------------------------------------------------------------
ELIZABETH MILLER 40
- ------------------------------------------------------------
MARY BECK MILLER 25
- ------------------------------------------------------------
ROBERT J MILLER 3,206
- ------------------------------------------------------------
NINA MINER 2,500
- ------------------------------------------------------------
JAMES E MITCHELL & MICHAEL A MITCHELL 10
- ------------------------------------------------------------
MOMAR CORPORATION 50,000
- ------------------------------------------------------------
JAIME NASSER TTEE THE RAFAEL NASSER
2003 TRUST 463,405
- ------------------------------------------------------------
BRIAN NASTRUZ 9,728
- ------------------------------------------------------------
CLEA O'HANA 250
- ------------------------------------------------------------
MORGAN O'HANA 250
- ------------------------------------------------------------
STEVE O'HANA 7,500
- ------------------------------------------------------------
VICTORIA O'HANA 10,000
- ------------------------------------------------------------
WILLIAM O'KEEFE 20
- ------------------------------------------------------------
CATHERINE A OLIVA 75
- ------------------------------------------------------------
GERALD O'ROURKE TR 100
- ------------------------------------------------------------
MARGARET A OSWALT 50
- ------------------------------------------------------------
ANDREW J PACE & SUSAN M PACE 59
- ------------------------------------------------------------
FRANK PARATORE 14
- ------------------------------------------------------------
LEONARD PARKER 22,597
- ------------------------------------------------------------
PLASTIC TECHNOLOGIES LTD 88,280
- ------------------------------------------------------------
MARC POWERS 3,206
- ------------------------------------------------------------
PAUL PUNZONE & DOROTHY BRAZZANO 30
- ------------------------------------------------------------
JACOB C PUZIO 100
- ------------------------------------------------------------
ALEXANDRA RAEYMAEKERS 250
- ------------------------------------------------------------
ANDREW RAEYMAEKERS 250
- ------------------------------------------------------------
ANTOINETTE RAEYMAEKERS 10,000
- ------------------------------------------------------------
AMI REINES 2,500
- ------------------------------------------------------------
RETIREMENT ACCOUNTS INC TTEE 17,103
- ------------------------------------------------------------
THADDEUS R RICKARDS & TERRI L RICKARDS 500
- ------------------------------------------------------------
WILLIAM JOHN RICKETT 500
- ------------------------------------------------------------
16
- ------------------------------------------------------------
NAME NUMBER OF UNITS
- ------------------------------------------------------------
RICHARD ROSE 67,790
- ------------------------------------------------------------
ROBIN ROSE 67,790
- ------------------------------------------------------------
BRUCE ROSEN 22,597
- ------------------------------------------------------------
REBECCA ROSENBERG 10
- ------------------------------------------------------------
WARREN SACKLER 50
- ------------------------------------------------------------
SAGUARO ASSET HOLDING I 500
- ------------------------------------------------------------
MARK SAITO & JENNIFER SAITO 13
- ------------------------------------------------------------
CHARLES SALA 100
- ------------------------------------------------------------
REGINA SALA & CHARLES SALA 100
- ------------------------------------------------------------
KIMI SATO 22,597
- ------------------------------------------------------------
DOMINGO SAUCEDA & PAULINE SAUCEDA 96
- ------------------------------------------------------------
STEVEN SCHWIMMER 11,298
- ------------------------------------------------------------
ROY CHRISTOPHER SEAGO & BEVERLY ANN 100
- ------------------------------------------------------------
MICHAEL SENKOW 10
- ------------------------------------------------------------
SHAMROCK STRATEGIES INC 22,774
- ------------------------------------------------------------
FLORI SILVERSTEIN 2,500
- ------------------------------------------------------------
STANLEY SILVERSTEIN 40,000
- ------------------------------------------------------------
GAIL SLICER 100
- ------------------------------------------------------------
IGNACY SMIEJA 10
- ------------------------------------------------------------
OTIS V SOLAR & LINDA L SOLAR 20
- ------------------------------------------------------------
ROBERT SPITALNICK & KAREN SPITALNICK 6,452
- ------------------------------------------------------------
JAMES G STARK & ROSE E STARK 3
- ------------------------------------------------------------
ELLIOT STEIGMAN 3,000
- ------------------------------------------------------------
CARL A STINE & ELIZABETH A STINE 42
- ------------------------------------------------------------
MICHAEL J STODDARD 100
- ------------------------------------------------------------
HEATHER J STRAUSS CUST 75
- ------------------------------------------------------------
HEATHER JANE STRAUSS CUST 100
- ------------------------------------------------------------
MORAD TAHBAZ 1,286,025
- ------------------------------------------------------------
BEATRICE TOLLMAN 84,654
- ------------------------------------------------------------
BEATRICE N TOLLMAN 30,936
- ------------------------------------------------------------
BRETT TOLLMAN 10,398
- ------------------------------------------------------------
BRETT G TOLLMAN TTEE 100,000
- ------------------------------------------------------------
GAVIN TOLLMAN 2,500
- ------------------------------------------------------------
IVAN TOLLMAN 2,500
- ------------------------------------------------------------
STANLEY S TOLLMAN TTEE 49,898
- ------------------------------------------------------------
JON R TURNER 430
- ------------------------------------------------------------
PETER VERHEYLEWEGHEN 50
- ------------------------------------------------------------
RICHARD M WEXLER 2,000
- ------------------------------------------------------------
BOB H WILSON & ESTELLE WILSON 200
- ------------------------------------------------------------
HOWARD ZUCKERMAN 380
- ------------------------------------------------------------
43,825,738
- ------------------------------------------------------------
17
