IN RE SUMMIT AT COPPER SQUARE, LLC (Bankr.N.D.Ill. 8-3-2010)

EUGENE WEDOFF, Bankruptcy Judge

TOTAL FEES REQUESTED: $431,380.00 TOTAL COSTS REQUESTED: $7,723.95 TOTAL FEES REDUCED: $14,681.00 TOTAL COSTS REDUCED: $57126 TOTAL FEES ALLOWED: $416,699.00 TOTAL COSTS ALLOWED: $7,152.69 TOTAL FEES AND COSTS ALLOWED: $423,851.69 The attached time and expense entries have been underlined to reflect disallowance in whole or in part. The basis for each disallowance is reflected by numerical notations that appears on the left of each underlined entry. The numerical notations correspond to the enumerated paragraphs below.

The Court may impose a ten percent penalty for "lumping." In re Wildman, 72 B.R. 700, 709 (Bankr. N.D. Ill. 1987) ("Applicants may not circumvent the minimum time requirement or any of the requirements of detail by "lumping" a bunch of activities into a single entry. [citation omitted]. Each type of service should be listed with the corresponding specific time allotment.").

The court disallows the compensation of clerical or stenographic employees of the professional for the performance of routine clerical or administrative activities in the normal course of the professional's business, such as photocopying, secretarial work, or routine filing. Such activities are not in the nature of professional services and must be absorbed by the applicant's firm as an overhead expense. In re Dimas, LLC, 357 B.R. 563, 577 (Bankr. N.D. Cal. 2006) (citing Missouri v. Jenkins, 491 U.S. 274, 288 n. 10 (1989)). See also In re Chellino, 209 B.R. 106, 114 (Bankr. C.D. Ill. 1996) (Paralegal, but not "clerk" services entitled to compensation at an hourly rate; clerk activities are overhead of the professional); Souza v. Miguel, 32 F.3d 1370, 1375 (9th Cir. 1994) (Trustee not entitled to reimbursement or compensation of overhead expenses such as secretarial, stenographic, clerical, and routine messenger services).

The Court denies the allowance of compensation for the following task since the description of the time entry fails to identify in a reasonable manner the service rendered. In re Pettibone, 74 B.R. 293, 301 (Bankr. N.D. Ill. 1987) ("A proper fee application must list each activity, its date, the attorney who performed the work, a description of the nature and substance of the work performed, and the time spent on the work. [Citation omitted] Records which give no explanation of the activities performed are not compensable."); In re Wildman, 72 B.R. 700, 708-9 (Bankr. N.D. Ill. 1987) (same).

The Court denies the allowance of compensation for services that duplicate those of another professional or paraprofessional. See 11 U.S.C. § 330(a)(4)(A)(i). Reduction in fees is warranted if multiple attorneys from the same firm appear in court on a motion or argument or for a conference, unless counsel adequately demonstrates that each attorney present contributed in some meaningful way. In re Pettibone, 74 B.R. 293, 307 (Bankr. N.D. Ill. 1987) ("A debtor's estate should not bear the burden of duplication of services. If found in the record, such duplication shall be disallowed by the court as unnecessary."). It is also an accepted principle that generally no more than one attorney may bill for time spent in an intra-office conference or meeting absent an adequate explanation. See In re Adventist Living Ctrs., Inc., 137 B.R. 701, 716 (Bankr. N.D. Ill. 1991); In re Pettibone, 74 B.R. at 303.

The Court denies reimbursement for fees or expenses that are overhead costs. Expenses which are overhead are not compensable because they are built into the hourly rate. See In re Wildman, 72 B.R. 700, 731 (Bankr. N.D. Ill. 1987). Overhead, for bankruptcy purposes, includes "all continuous administrative or general costs or expenses incident to the operation of the firm which cannot be attributed to a particular client or cost." In re Convent Guardian Corp., 103 B.R. 937, 939-40 (Bankr. N.D. Ill. 1989) (quoting In re Thacker, 48 B.R. 161, 164 (Bankr. N.D. Ill. 1985)).

The Court denies the allowance of reimbursement of this meal expense. In re Covent Guardian Corp., 103 B.R. 937, 942 (Bankr. N.D. Ill. 1989) ("[I]t is highly unlikely that counsel could prove that the meal expenses were reasonably necessary for the proper representation of the debtor . . . If the attorney were not working on the case, he would still have to eat. Accordingly, the Court finds that, except in very limited circumstances, local meals are not reasonably necessary for the proper representation of the client."). LAW OFFICES ARNSTEIN LEHR LLP 120 S. RIVERSIDE PLAZA — SUITE 1200 CHICAGO, ILLINOIS 60606-3910 (312) 876-7100 THE SUMMIT AT COPPER SQUARE June 30, 2010 ATTN: DAVID T. WALLACH W DEVELOPMENTS, LLC Invoice: 860090 770 W. GLADYS, SUITE 208 CHICAGO IL 60661 KA Our Matter # 36582-0003 CASE ADMINISTRATION FOR PROFESSIONAL SERVICES RENDERED THROUGH June 30, 2010 10/15/09 SUMMIT — DRAFT MOTION FOR JOINT ADMINISTRATION OF BOTH SUMMIT BANKRUPTCY CASES; DRAFT PROPOSED ORDER. KEVIN H. MORSE 1.10 hr. 10/15/09 SUMMIT — CONDUCT RESEARCH ON REQUIREMENTS FOR SINGLE ASSET REAL ESTATE CASES. KEVIN H. MORSE 0.80 hr. 10/15/09 SUMMIT — E-MAIL D. WALLACH RE: STATUS OF SUMMIT COMMERCIAL PROPERTY; REVISE MOTIONS PURSUANT TO D. WALLACH AND M. STEIN COMMENTS. KEVIN H. MORSE 0.90 hr. 10/15/09 SUMMIT — REVIEW FIRST DAY MOTIONS INCLUDING EMPLOYMENT MOTIONS AND JOINT ADMINISTRATION AND REVISE SAME. MIRIAM R. STEIN 0.60 hr. 10/15/09 SUMMIT — MEETING WITH B. CHATZ REGARDING ISSUES OF CASE. MIRIAM R. STEIN 0.30 hr. 10/16/09 SUMMIT — FORMAT AND PREPARE BOTH FIRST DAY MOTIONS FOR FILING. KEVIN H. MORSE 1.20 hr. 10/16/09 SUMMIT — FINAL REVIEW OF DOCUMENTS AND PREPARE FOR FILING. MIRIAM R. STEIN 0.60 hr. 10/21/09 SUMMIT — DRAFT MEMO RE: POTENTIAL ISSUES FOR SINGLE ASSET REAL ESTATE CASES; SEND MEMO TO K. ARMIROS AND M. STEIN. KEVIN H. MORSE 1.20 hr. 10/27/09 SUMMIT — ATTEND COURT HEARING ON JOINT CONSOLIDATION. MIRIAM R. STEIN 1.00 hr. 10/28/09 SUMMIT — MEETING WITH D. ARMIROS TO DISCUSS BANKRUPTCY, PLAN OF REORGANIZATION AND ISSUES RELATING TO SECURED CREDITOR. MIRIAM R. STEIN 0.70 hr. 11/02/09 TELEPHONE CONFERENCE WITH ADVISOR RE: MEETING AND CASE BACKGROUND (.2); REVIEW CASELAW ON SUMMARY NATURE OF PROCEEDING (.2). KONSTANTINOS ARMIROS 0.40 hr. 11/03/09 SUMMIT — GENERAL STRATEGY KEN MALEK AND STAFF REGARDING MOVING FORWARD. JAMES A. CHATZ 1.20 hr. 11/03/09 TELEPHONE CONFERENCE WITH CLIENT RE: HOMEOWNERS ASSOCIATION NEEDS (.2); TELEPHONE CONFERENCE WITH HOMEOWNERS ASSOCIATION ATTORNEY (.2); REVIEW CORRESPONDENCE RELATING TO DIP FINANCING (.3); TELEPHONE CONFERENCE WITH DALE WOOD RE: FINANCING SUMMIT (.4). KONSTANTINOS ARMIROS 1.10 hr. 11/03/09 SUMMIT — ATTEND COURT HEARING ON FIRST DAY MOTIONS. MIRIAM R. STEIN 1.20 hr. 11/04/09 SUMMIT — ATTEND COURT HEARING. MIRIAM R. STEIN 1.50 hr. 11/04/09 SUMMIT — MEETINGS TO PREPARE FOR 12/2 HEARING. MIRIAM R. STEIN 0.60 hr. 11/06/09 SUMMIT — CALL COURT TO ARRANGE TELEPHONIC APPEARANCE AT NOVEMBER 10 HEARING FOR D. WOOD. KEVIN H. MORSE 0.10 hr. 11/09/09 SUMMIT — PREPARE FOR COURT HEARING ON RETENTION MOTION AND DIP FINANCING. MIRIAM R. STEIN 0.50 hr. 11/10/09 COURT APPEARANCE RE: MOTION TO OBTAIN DEBTOR IN POSSESSION FINANCING (1.0); COURT APPEARANCE RE: MOTION TO ENGAGE FINANCIAL CONSULTANT PROFESSIONALS (.5); CONFERENCE WITH LENDER COUNSEL RE: DIP FINANCING (.3); CONFERENCE WITH U.S. TRUSTEE AND KEN MALEK RE: NEEDED AFFIDAVITS FOR PROFESSIONAL RETENTION (.3). KONSTANTINOS ARMIROS 2.10 hr. 11/10/09 SUMMIT — ATTEND COURT HEARING ON DIP FINANCING AND RETENTION. (NO CHARGE) MIRIAM R. STEIN 1.50 hr. 11/12/09 SUMMIT — MEETING WITH D. ARMIROS REGARDING ISSUES WITH RESPECT TO RELIEF FROM STAY MOTION AND STRATEGY REGARDING PLAN OF REORGANIZATION. BARRY A. CHATZ 0.50 hr. 11/12/09 SUMMIT — CALL WITH DAVID WALLACH AND MEETING WITH D. ARMIROS REGARDING SCHEDULES, STATUS AND NEED FOR DIP AND BUDGET ISSUES. MIRIAM R. STEIN 0.50 hr. 11/16/09 SUMMIT — RESEARCH ARIZONA STATUTES AND CASE LAW RE: PRIORITY AND RELATION BACK OF MECHANICS' LIENS. KEVIN H. MORSE 1.80 hr. 11/16/09 SUMMIT — MEETING REGARDING WEDNESDAY'S HEARING. MIRIAM R. STEIN 0.40 hr. 11/17/09 REVIEW CONDO DECLARATION AND FORWARD LEASING PROVISION TO COUNSEL FOR STEARNS BANK (.3). KONSTANTINOS ARMIROS 0.30 hr. 11/18/09 SUMMIT — ATTEND COURT HEARING. MIRIAM R. STEIN 1.20 hr. 11/18/09 SUMMIT — MEETING WITH CLIENT TO PREPARE FOR 341 MEETING AND 12/2 TRIAL. MIRIAM R. STEIN 2.00 hr. 11/23/09 SUMMIT — REVIEW OF FINANCING, CASE LAW AND STRATEGY OF CASE. JAMES A. CHATZ 1.50 hr. 11/23/09 SUMMIT — REVIEW PLEADINGS AND EDITS TO SAME. JAMES A. CHATZ 1.00 hr. 11/23/09 SUMMIT — MEETING WITH D. ARMIROS REGARDING PLAN ISSUES AND PREPARATION FOR DECEMBER 2ND TRIAL. MIRIAM R. STEIN 2.00 hr. 11/24/09 THE SUMMIT — MEETING TO DISCUSS STAY ISSUES, PLAN ISSUES AND DIP FINANCING ISSUES. MIRIAM R. STEIN 0.50 hr. 11/30/09 SUMMIT — CONFERENCE WITH D. ARMIROS REGARDING STRATEGY WITH RESPECT TO RELIEF FROM STAY MOTION AND ISSUES ON "UNDER-SECURED" CREDITOR VALUATION. BARRY A. CHATZ 0.50 hr. 11/30/09 SUMMIT — CONFERENCE CALL WITH CLIENT ON PLAN AND MOTION TO LIFT STAY. MIRIAM R. STEIN 0.80 hr. 12/01/09 REVIEW AND RESPOND TO EMAILS FROM M. NOVICK RE 12/1/09 HEARING AND OBTAINING TRANSCRIPTS OF HEARING RE SAME (.1); TELEPHONE CONFERENCE WITH J. DEFINI RE ORDERING OF TRANSCRIPTS (.1); ADVISE D. WALLACH OF PROCEDURE FOR ORDERING AND COST (.1) BECKY L. SUTTON 0.30 hr. 12/03/09 SUMMIT — REVIEW OF KEN MALEK'S REPORT AND MAKE COMMENTS TO SAME. JAMES A. CHATZ 0.40 hr. 12/07/09 REVIEW DATE STRICKEN FROM COURT CALENDAR (.2); CORRESPONDENCE TO M. STEIN ADVISING OF SAME (.2). MICHELLE G. NOVICK 0.40 hr. 12/08/09 SUMMIT — MEETING WITH DAVID WALLACH IN PREPARATION FOR HEARING. MIRIAM R. STEIN 1.00 hr. 12/11/09 TELEPHONE CONFERENCE WITH CONDOMINIUM OWNERS COUNSEL RE: FINANCING MOTION, STATUS OF CASE AND SUPPORT FOR PLAN (.3). KONSTANTINOS ARMIROS 0.30 hr. 12/14/09 REVIEW AND RESPOND TO EMAILS FROM J. MILLER AND D. WALLACH RE MONTHLY OPERATING REPORTS FOR OCTOBER AND NOVEMBER (.2); COMMENCE PREPARATION OF SAME FOR REVIEW AND COMMENT (.8); FORWARD TO D. WALLACH, J. MILLER AND M. STEIN BY EMAIL WITH BACKUP FOR DISBURSEMENTS (.2) BECKY L SUTTON 1.20 hr. 12/15/09 SUMMIT — ATTEND COURT HEARING REGARDING STEARNS MOTION TO LIFT STAY AND DEBTOR'S MOTION FOR DIP FINANCING. MIRIAM R. STEIN 1.30 hr. 12/18/09 SUMMIT — CONDUCT RESEARCH RE: ABILITY TO LIMIT SECURED CREDITOR'S ABILITY TO CREDIT BID (.1); REVIEW NY AND SECOND CIRCUIT CASES FOR A CASE LIMITING CREDIT BID (.7). KEVIN H. MORSE 1.70 hr. 03/04/10 PREPARE MONTHLY OPERATING REPORTS FOR DECEMBER AND JANUARY (1.2); FORWARD TO D. WALLACH AND M. STEIN FOR APPROVAL AND SIGNATURE (.3); ELECTRONICALLY FILE SAME (.3) BECKY L. SUTTON 1.80 hr. 03/04/10 SUMMIT — FINALIZE MOTION FOR FILING AND NOTICE. MIRIAM R. STEIN 1.00 hr. 03/04/10 SUMMIT — MEETING WITH D. ARMIROS REGARDING ISSUES OF CASE. MIRIAM R. STEIN 0.60 hr. 03/09/10 SUMMIT — REVIEW U.S. TRUSTEE FEES WITH CLIENT. MIRIAM R. STEIN 0.20 hr. 03/09/10 SUMMIT — PREPARE FOR COURT. MIRIAM R. STEIN 0.50 hr. 03/10/10 SUMMIT — ATTEND COURT HEARING. MIRIAM R. STEIN 2.00 hr. 03/16/10 SUMMIT — PREPARE FOR COURT HEARING. MIRIAM R. STEIN 0.50 hr. 03/22/10 SUMMIT — E-MAILS REGARDING TAX PAYMENT. MIRIAM R. STEIN 0.20 hr. 03/30/10 PREPARE MONTHLY OPERATING REPORTS FOR THE SUMMIT AT COPPER SQUARE COMMERCIAL FOR THE MONTHS OF NOVEMBER THROUGH MARCH (1.8); FORWARD TO D. WALLACH FOR APPROVAL AND EXECUTION (.2) BECKY L. SUTTON 2.00 hr. 04/01/10 TELEPHONE CONFERENCE WITH J. MILLER RE EXECUTION OF MONTHLY OPERATING REPORTS FOR FILING FOR THE SUMMIT AT COPPER SQUARE COMMERCIAL, LLC BECKY L. SUTTON 0.20 hr. 04/01/10 FINALIZE MONTHLY OPERATING REPORTS FOR NOVEMBER 2009 THROUGH FEBRUARY 2010 FOR THE SUMMIT AT COPPER SQUARE COMMERCIAL (.8); TRANSMIT BY EMAIL TO J. MILLER AND D. WALLACH FOR REVIEW AND EXECUTION (.2) BECKY L. SUTTON 1.00 hr. 04/02/10 REVIEW AND RESPOND TO EMAILS FROM J. MILLER RE PAYMENT OF U.S. TRUSTEE QUARTERLY FEES (.2); UPDATE SPREADSHEET FOR MONTHLY DISBURSEMENTS TO CALCULATE QUARTERLY FEES DUE (.4) BECKY L. SUTTON 0.60 hr. 04/05/10 REVIEW EXECUTED MONTHLY OPERATING REPORTS FOR NOVEMBER 2009 THROUGH FEBRUARY 2010 FOR THE SUMMIT AT COPPER SQUARE COMMERCIAL, LLC AND FINALIZE FOR FILING (.4); ELECTRONICALLY FILE SAME (.4); PREPARE EMAIL AND TRANSMIT SAME TO U.S. TRUSTEE'S OFFICE (.2) BECKY L. SUTTON 1.00 hr. 04/05/10 CORRESPONDENCE WITH CLIENT RE: UTILITY BILLS (.2); TELEPHONE CONFERENCE WITH CLIENT RE: STATUS OF FINANCING (.3); PREPARE FOR CONFIRMATION HEARING (.4); DEVELOP ANALYSIS FOR CITY OF PHOENIX ISSUES (.3); CORRESPONDENCE WITH KEN MALEK AND REVIEW OF BARRET CORRESPONDENCE RE: STEARNS PRIORITY OVER CITY OF PHOENIX (.2). KONSTANTINOS ARMIROS 1.20 hr. 04/06/10 TELEPHONE CONFERENCE WITH D. WALLACH RE: UTILITY ISSUES (.3); REVIEW AND ANALYSIS FOR WITNESS LIST AND EXHIBIT LIST (.5); ASSEMBLE AND COMPLETE WITNESS LIST FOR FILING (.8). KONSTANTINOS ARMIROS 1.60 hr. 04/07/10 SUMMIT — REVIEW OF PLEADINGS BY STEARNS BANK. MIRIAM R. STEIN 0.50 hr. 04/07/10 SUMMIT — REVIEW MONTHLY OPERATING REPORTS. MIRIAM R. STEIN 0.30 hr. 04/19/10 SUMMIT — PREPARE FOR COURT HEARING. MIRIAM R. STEIN 0.50 hr. 04/26/10 SUMMIT — REVIEW OBJECTION TO PLAN FILED BY MARICOPA COUNTY. MIRIAM R. STEIN 0.40 hr. 04/29/10 SUMMIT — CONFERENCE WITH D. ARMIROS REGARDING ISSUES OF CASE. MIRIAM R. STEIN 0.70 hr. 04/30/10 SUMMIT — REVIEW OF PLAN LOAN DOCUMENTS. MIRIAM R. STEIN 1.00 hr. 05/04/10 SUMMIT — CONFERENCE WITH D. ARMIROS REGARDING ISSUES RELATING TO VALUATION OF CONDO SALES WITH RESPECT TO PRESENT VALUE OF PAYDOWNS. MIRIAM R. STEIN 0.40 hr. 05/05/10 SUMMIT — WORK ON ISSUES RELATING TO SPREADSHEETS TO INCLUDE REVISIONS RELATING TO CITY OF PHOENIX TAXES WHICH ARE SUBJECT TO STEARNS LIEN. MIRIAM R. STEIN 0.50 hr. 05/25/10 SUMMIT — ATTEND COURT HEARING. (NO CHARGE) MIRIAM R. STEIN 1.50 hr. 05/25/10 SUMMIT — MEETING WITH D. ARMIROS REGARDING ISSUES OF CASE. MIRIAM R. STEIN 0.50 hr. 05/25/10 SUMMIT — FURTHER WORK ON SPEEDWAGON PROPOSAL. MIRIAM R. STEIN 0.50 hr. 05/28/10 SUMMIT — REVIEW MONTHLY OPERATING REPORT. MIRIAM R. STEIN 0.30 hr. 06/01/10 SUMMIT — CREATE AND BURN 3 CD'S OF MOTION WITH EXHIBITS. JOHN C. FULLER 0.40 hr. 06/01/10 SUMMIT — PREPARE FOR COURT HEARING AND CALL WITH D. WALLACH REGARDING RELEASE PRICE ISSUES. MIRIAM R. STEIN 1.00 hr. 06/01/10 SUMMIT — ATTEND AFTERNOON HEARING ON RELEASE PRICES. MIRIAM R. STEIN 1.70 hr. 06/01/10 SUMMIT — REVIEW WEISZ PROPOSED ORDER LIFTING STAY. MIRIAM R. STEIN 0.30 hr. 06/02/10 SUMMIT — CONFERENCE WITH D. ARMIROS REGARDING STATUS OF LOAN DOCUMENTS AND ISSUES RELATING TO RELEASE PRICES. MIRIAM R. STEIN 0.30 hr. 06/03/10 SUMMIT — REVIEW UPDATED DEED IN TRUST BY STEARNS BANK. MIRIAM R. STEIN 0.60 hr. 06/17/10 SUMMIT — REVIEW ISSUES IN PREPARATION FOR CONFIRMATION HEARING. MIRIAM R. STEIN 0.50 hr. 06/21/10 SUMMIT — MULTIPLE CONFERENCES WITH D. ARMIROS REGARDING STRATEGY WITH RESPECT TO PLAN CONFIRMATION QUESTIONS. BARRY A. CHATZ 0.50 hr. 06/22/10 SUMMIT — CONFERENCE AND CALL WITH CLIENT REGARDING FUNDING CERTITUDE. BARRY A. CHATZ 0.50 hr. 06/22/10 SUMMIT — CONFERENCE WITH D. ARMIROS REGARDING STATUS OF EQUITY FUNDING AND CONFIRMATION HEARING. MIRIAM R. STEIN 0.60 hr. 06/22/10 SUMMIT — REVIEW TRANSCRIPT OF LAST HEARING. MIRIAM R. STEIN 0.70 hr. 06/23/10 SUMMIT — ATTEND CONFIRMATION HEARING. BARRY A. CHATZ 1.50 hr. 06/23/10 SUMMIT — REVIEW AND REVISE CONFIRMATION ORDER AND CONFERENCE WITH M. STEIN REGARDING SAME. BARRY A. CHATZ 0.50 hr. 06/23/10 SUMMIT-FURTHER PREPARATION FOR COURT HEARING. MIRIAM R. STEIN 0.40 hr. 06/23/10 SUMMIT — MEETING WITH MICHAEL LERNER REGARDING CASE ISSUES. MIRIAM R. STEIN 1.00 hr. 06/23/10 SUMMIT — FINALIZE ALL ORDERS AND CIRCULATE TO COUNSEL AND COURT FOR DOCKETING. MIRIAM R. STEIN 1.20 hr. 06/23/10 SUMMIT — CALL WITH KEN MALEK REGARDING FEE PETITION AND OUTSTANDING ISSUES WITH CASE. MIRIAM R. STEIN 0.30 hr. 06/23/10 SUMMIT — FOLLOW UP MEETING ON CONFIRMATION ISSUES WITH DAVID WALLACH AND HIS PARTNER. MIRIAM R. STEIN 0.60 hr. LAW OFFICES ARNSTEIN LEHR LLP 120 S. RIVERSIDE PLAZA — SUITE 1200 CHICAGO, ILLINOIS 60606-3910 (312) 876-7100 THE SUMMIT AT COPPER SQUARE June 30, 2010 ATTN: DAVID T. WALLACH W DEVELOPMENTS, LLC Invoice: 860092 770 W. GLADYS, SUITE 208 CHICAGO IL 60661 KA Our Matter # 36582-0005 EMPLOYMENT OF PROFESSIONALS FOR PROFESSIONAL SERVICES RENDERED THROUGH June 30, 2010 10/15/09 SUMMIT — DRAFT MOTIONS TO EMPLOY A L, AFFIDAVIT OF B. CHATZ AND PROPOSED ORDER FOR BOTH SUMMIT BANKRUPTCY CASES. KEVIN H. MORSE 1.50 hr. 10/16/09 SUMMIT — REVISE MOTION TO EMPLOY A L AND MOTION FOR JOINT ADMINISTRATION. KEVIN H. MORSE 0.80 hr. 11/06/09 FINALIZE MOTION TO EMPLOY FINANCIAL ADVISORS FOR FILING AND SERVICE (.8); REVIEW COURT DOCKET AND UPDATE SERVICE LIST (.4); ELECTRONICALLY FILE SAME AND CONDUCT EXECUTION OF SERVICE (.8) BECKY L. SUTTON 1.2 11/06/09 SUMMIT — REVIEW AFFIDAVIT OF K. MALEK IN PREPARATION OF DRAFTING APPLICATION TO EMPLOY. KEVIN H. MORSE 0.30 hr. 11/06/09 SUMMIT — DRAFT APPLICATION TO EMPLOY CONWAY MACKENZIE, INC. AS FINANCIAL ADVISORS. KEVIN H. MORSE 1.10 hr. 11/06/09 SUMMIT — REVISE APPLICATION OF CM D TO INCLUDE INFORMATION FOR P. TOBIN SENT FROM K. MALEK. KEVIN H. MORSE 0.80 hr. 11/06/09 REVIEW AND REVISE MOTION TO RETAIN PROFESSIONALS (.3); TELEPHONE CONFERENCE WITH KEN MALEK RE: MOTION (.1). KONSTANTINOS ARMIROS 0.40 hr. 11/06/09 SUMMIT — REVIEW RETENTION OF FINANCIAL ADVISOR MOTION. MIRIAM R. STEIN 0.40 hr. 11/09/09 SUMMIT — DRAFT AFFIDAVIT OF P. TOBIN PER U.S. TRUSTEE'S E-MAIL TO M. STEIN. KEVIN H. MORSE 1.50 hr. LAW OFFICES ARNSTEIN LEHR LLP 120 S. RIVERSIDE PLAZA — SUITE 1200 CHICAGO, ILLINOIS 60606-3910 (312) 876-7100 THE SUMMIT AT COPPER SQUARE June 30, 2010 ATTN: DAVID T. WALLACH W DEVELOPMENTS, LLC Invoice: 860095 770 W. GLADYS, SUITE 208 CHICAGO IL 60661 KA Our Matter # 36582-0006 FINANCING FOR PROFESSIONAL SERVICES RENDERED THROUGH June 30, 2010 10/16/09 (SUMMIT-FINANCING): REVIEW EXISTING LOAN DOCUMENTS FROM FIRST NATIONAL BANK OF ARIZONA, INCLUDING LOAN AGREEMENT, PROMISSORY NOTES AND RELATED INFORMATION AND REVIEW OF FDIC/STEARNS DOCUMENTS IN TRANSACTION. KONSTANTINOS ARMIROS 0.50 hr. 10/16/09 (SUMMIT BKCY-FINANCING): TELEPHONE CONFERENCE WITH CLIENT RE: FINANCIAL NEEDS OF DEBTOR AND FUNDING CONDOMINIUM ASSOCIATION, SOURCES OF FUNDS; DIP FINANCING CANDIDATE AND POTENTIAL REVENUE GENERATED BY RENTALS. KONSTANTINOS ARMIROS 0.30 hr. 10/30/09 SUMMIT — REVIEW DOCUMENTS AND ISSUES RELATING TO TARP FUNDING. MIRIAM R. STEIN 0.50 hr. 10/30/09 SUMMIT — REVIEW DIP PROPOSAL. MIRIAM R. STEIN 0.30 hr. 11/03/09 SUMMIT — DRAFT DIP FINANCING MOTION. MIRIAM R. STEIN 1.30 hr. 11/04/09 SUMMIT — CALL TO DALE WOOD REGARDING DIP FINANCING. MIRIAM R. STEIN 0.40 hr. 11/05/09 SUMMIT — FINALIZE DIP FINANCING MOTION (.60); INITIAL DRAFT OF ORDER (.60). MIRIAM R. STEIN 1.20 hr. 11/06/09 EINALIZE MOTION TO INCUR POST-PETITION DEBT FOR FILING AND SERVICE (.3); ELECTRONICALLY FILE SAME AND CONDUCT EXECUTION OF SERVICE (.5) BECKY L. SUTTON 0.3 11/06/09 REVIEW AND REVISE DEBTOR-IN-POSSESSION FINANCING MOTION (.4); TELEPHONE CONFERENCES WITH DIP LENDER AND CLIENT RE: FINANCING TERMS AND DOCUMENTATION (.4). KONSTANTINOS ARMIROS 0.80 hr. 11/17/09 SUMMIT — CALL WITH STEARNS BANK REGARDING BUDGET ISSUES. MIRIAM R. STEIN 0.30 hr. 11/18/09 COURT APPEARANCE RE: CONTINUING CASH COLLATERAL MOTIONS AND ENGAGEMENT MOTION (.7); CONFERENCE WITH B. CHATZ AND CLIENT RE: SETTLEMENT OUTLINE (.3). KONSTANTINOS ARMIROS 1.00 hr. 11/23/09 REVIEW FDIC DOCUMENTS TO ASCERTAIN VALUES PAID FOR LOANS (1.2); REVISING BRIEF TO REORGANIZE ARGUMENTS, INCLUDING MAKING VALUATION ARGUMENT FIRST, INCORPORATING FDIC INFORMATION IN VALUATION ARGUMENT AND SETTING FORTH FACTUAL BASIS FOR FDIC TRANSACTION (2.4). KONSTANTINOS ARMIROS 3.60 hr. 11/24/09 FURTHER REVISIONS TO RESPONSE BRIEF AND DRAFTING FOOTNOTES FOR BRIEF (1.1); RESEARCHING DOCUMENTS AS EXHIBITS TO RESPONSE (.4); TELEPHONE CONFERENCE WITH CLIENT RE: VALUATION THEORIES AND APPRAISER'S VISIT (.3); FURTHER REVISIONS TO BRIEF, INCLUDING LIEN PRIORITY ISSUES, ADEQUATE PROTECTION ARGUMENT AND FDIC ISSUES (1.0). KONSTANTINOS ARMIROS 2.80 hr. 12/01/09 SUMMIT — REVIEW ISSUES OF GOING FORWARD WITH CASH COLLATERAL. JAMES A. CHATZ 0.50 hr. 12/01/09 SUMMIT — MEETING REGARDING ADEQUATE PROTECTION AND DIP FINANCING. MIRIAM R. STEIN 1.00 hr. 12/10/09 REVIEW AND REVISE MOTION FOR USE OF COLLATERAL (.4); TELEPHONE CONFERENCE WITH CLIENT RE: FUNDING (.2); TELEPHONE CONFERENCE WITH MR. BARRETT RE: PROTOCOLS FOR REAL ESTATE TAXES (.2); REVIEW PLEADINGS AND EXHIBITS TO CONFORM REQUIREMENTS TO CASH COLLATERAL NEEDS (.3). KONSTANTINOS ARMIROS 1.10 hr. 12/10/09 SUMMIT — DRAFT MOTION TO APPROVE DIP FINANCING FROM W DEVELOPMENTS. MIRIAM R. STEIN 1.60 hr. 12/10/09 SUMMIT — DRAFT ORDER APPROVING DIP FINANCING FROM W DEVELOPMENTS. MIRIAM R. STEIN 1.40 hr. 12/10/09 SUMMIT — MEETING WITH D. ARMIROS REGARDING DIP MOTION AND CALL WITH DAVID WALLACH REGARDING SAME. MIRIAM R. STEIN 0.50 hr. 02/08/10 REVIEWED CORRESPONDENCE FROM MIRIAM STEIN, DAVID WALLACH AND KONSTANTINOS ARMIROS. ROBERT J. TAYLOR 0.50 hr. 04/28/10 SUMMIT — REVIEW LOAN DOCUMENTS. MIRIAM R. STEIN 0.70 hr. 05/04/10 SUMMIT — REVIEW OF CORRESPONDENCE TO BANK REGARDING PROPOSED NOTE AND TRUST DEED. MIRIAM R. STEIN 0.30 hr. 05/05/10 SUMMIT — WORK ON CASE INCLUDING DISCUSSION WITH D. ARMIROS REGARDING STATUS OF DISCUSSIONS WITH STEARNS BANK. MIRIAM R. STEIN 0.50 hr. 05/06/10 SUMMIT — REVIEW NOTE AND DEED IN TRUST AND PREPARE FOR FILING. MIRIAM R. STEIN 1.50 hr. 05/11/10 PRELIMINARY REVIEW OF REVISED NOTE AND TRUST DEED FROM LENDER'S COUNSEL. KONSTANTINOS ARMIROS 1.00 hr. 05/19/10 TELEPHONE CONFERENCE WITH DAVID WALLACH RE: PRICES AND STRATEGY AS TO MORTGAGE AND NOTE (.4); REVIEW STEARNS COMMENTS TO CHANGES ON MORTGAGE AND NOTE (.5). KONSTANTINOS ARMIROS 0.90 hr. 05/24/10 SUMMIT — WORK ON COMMITMENT LETTER BY SPEEDWAGON. MIRIAM R. STEIN 0.50 hr. 05/25/10 SUMMIT — POST-HEARING STRATEGY REGARDING FUNDING. BARRY A. CHATZ 0.50 hr. 05/25/10 SUMMIT — REVIEW AND REVISE COMMITMENT LETTER BY SPEEDWAGON. MIRIAM R. STEIN 0.40 hr. LAW OFFICES ARNSTEIN LEHR LLP 120 S. RIVERSIDE PLAZA — SUITE 1200 CHICAGO, ILLINOIS 60606-3910 (312) 876-7100 THE SUMMIT AT COPPER SQUARE June 30, 2010 ATTN: DAVID T. WALLACH W DEVELOPMENTS, LLC Invoice: 860099 770 W. GLADYS, SUITE 208 CHICAGO IL 60661 11/04/09 PRELIMINARY REVIEW OF CASE LAW ON RELIEF FROM STAY INCLUDING WEDOFF DECISIONS AND REQUIREMENTS UNDER 362(D)(1). KONSTANTINOS ARMIROS 0.50 hr. 11/05/09 SUMMIT — CONDUCT RESEARCH FOR RESPONSE TO STEARNS' RELIEF FROM STAY, CONCENTRATING ON 7TH CIRCUIT AND NORTHERN DISTRICT OF ILLINOIS RELIEF FROM STAY STANDARDS. KEVIN H. MORSE 2.30 hr. 11/05/09 SUMMIT — CONDUCT RESEARCH RE: STRIPPING DOWN OF SECURED LIENS, LIEN VALUATION AND INTEREST RATES. KEVIN H. MORSE 1.50 hr. 11/05/09 SUMMIT — REVIEW STEARNS BANK'S MOTION FOR RELIEF FROM STAY IN PREPARATION FOR RESPONSE AND TRIAL RESEARCH. KEVIN H. MORSE 0.30 hr. 11/07/09 SUMMIT — CONDUCT RESEARCH RE: RELIEF FROM STAY BURDENS OF PROOF, REVIEW VITREOUS STEEL CASE, AND RESEARCH 7TH CIRCUIT AND ILLINOIS ADEQUATE PROTECTION CASES. KEVIN H. MORSE 1.90 hr. 11/08/09 REGARDING RELIEF OF STAY ISSUES — BEGIN REVIEWING RELEVANT CASE LAW REGARDING ISSUES FOR DISCOVERY ON ADEQUATE PROTECTION, INDUBITABLE EQUIVALENT. R.K. HELLERMAN 2.00 hr. 11/09/09 SUMMIT — CONDUCT RESEARCH RE: PRO-DEBTOR RELIEF FROM STAY CASES AND ADEQUATE PROTECTION CASES. KEVIN H. MORSE 1.90 hr. 11/09/09 SUMMIT PRINT MOTIONS IN PREPARATION OF M. STEIN'S HEARINGS; DISCUSS RESEARCH RE: ADEQUATE PROTECTION WITH M. STEIN; PROVIDE M. STEIN WITH SUPPORTING CASE LAW. KEVIN H. MORSE 0.30 hr. 11/09/09 SUMMIT — REVIEW RESEARCH RE: DISCOUNTED DEBT, VULTURE CLAIMS AND CLAIM TRANSFER. KEVIN H. MORSE 0.80 hr. 11/23/09 SUMMIT — REVIEW M. NOVICK'S DRAFT OF RESPONSE TO STEARNS' MOTION FOR RELIEF FROM STAY (.6); CHECK ALL CITATIONS IN MOTION FOR ACCURACY OF PIN CITES AND QUOTATIONS (.7). KEVIN H. MORSE 1.30 hr. 11/23/09 REVIEW AND REVISE MOTION TO COMPEL DISCOVERY ISSUES (.5); CONFERENCES WITH R. HELLERMAN REGARDING SAME (.3); CONFERENCE WITH K. ARMIROS, R. HELLERMAN, J. CHATZ AND M. STEIN REGARDING UPCOMING ISSUES RELATING TO THE TRIAL INCLUDING FAILURE OF STEARNS BANK TO PRODUCE AMOUNT IT PURCHASED THE DEBT AND ISSUES IN RESPONSE TO MOTION TO MODIFY AUTOMATIC STAY (1.3); REVIEW AND REVISE RESPONSE IN OPPOSITION TO MOTION TO MODIFY AUTOMATIC STAY (2.8); CONFERENCES WITH K. ARMIROS REGARDING SAME (.4); CORRESPONDENCE TO AND FROM D. WALLACH REGARDING SAME (.5). MICHELLE G. NOVICK 5.80 hr. 11/24/09 SUMMIT — REVIEW OF BRIEF, RESPONSE AND LAW REVIEW CONCERNING VALUATION. JAMES A. CHATZ 0.80 hr. 11/24/09 SUMMIT — FURTHER STRATEGY REGARDING VALUATION OF PROPERTY. JAMES A. CHATZ 0.20 hr. 11/24/09 REVIEW ISSUES REGARDING CONTINUED TRIAL DATE AND OBTAINING NEW DATES FROM D. WALLACH AND K. MALEK, EXPERT WITNESS (.5); CORRESPONDENCE TO M. STEIN RE: SAME (.2); REVIEW REVISED TRIAL ORDER (.3); REVIEW AND REVISE MOTION TO COMPEL AND PROPOSED ORDER IN PREPARATION FOR FILING SAME (.6); REVIEW AND REVISE RESPONSE IN OPPOSITION TO MOTION TO MODIFY STAY (1.4); CORRESPONDENCE TO AND FROM J. SOWKA, COUNSEL FOR WEITZ COMPANY, GENERAL CONTRACTOR, RE: FILING RESPONSE IN OPPOSITION TO MOTION TO MODIFY STAY (.3); TELEPHONE CONFERENCE WITH D. WALLACH REGARDING REVISIONS TO THE RESPONSE INCLUDING AUTHORITY FOR TARP FUNDS AND FORECLOSURE MITIGATION UNDER THE ECONOMIC STABILIZATION ACT (.5). MICHELLE G. NOVICK 3.80 hr. 11/24/09 SUMMIT — CALLS REGARDING RESCHEDULING HEARING DATE ON MOTION TO LIFT STAY. MIRIAM R. STEIN 0.30 hr. 11/25/09 TELEPHONE CONFERENCE WITH KEN MALEK REGARDING APPRAISAL AND PRELIMINARY FINDINGS ON VALUATION (.30); REVIEW AND REVISE AND FURTHER REVISIONS TO BRIEF (.70). KONSTANTINOS ARMIROS 1.00 hr. 11/27/09 CORRESPONDENCE TO K. ARMIROS ADVISING OF POSITION OF HOMEOWNERS ASSOCIATION AND FILING OF LIMITED RESPONSE TO MOTION TO MODIFY STAY. MICHELLE G. NOVICK 0.30 hr. 12/07/09 REVIEW AND APPROVE STIPULATION (.2); REVIEW ISSUES PERTAINING TO EXHIBITS (.3); TELEPHONE CONFERENCE WITH CLIENT RE: TESTIMONY, STIPULATION AND ISSUES FOR HEARING (.4); BEGIN PREPARATION OF DAVID WALLACH TESTIMONY (1.2); CONFERENCE WITH CO-COUNSEL RE: RESPONSIBILITIES AT HEARING, EXPERT TESTIMONY ISSUES AND WALLACH TESTIMONY (.7); FURTHER PREPARATION OF WALLACH TESTIMONY AND REVISING PREVIOUS DRAFT (1.2); TELEPHONE CONFERENCE WITH CLIENT RE: FUNDING AND EXHIBIT RE: EXHIBIT 8 (.3); CORRESPONDENCE TO OPPOSING COUNSEL RE: EXHIBIT 8 AND EVIDENCE OF FUNDING (.2); FURTHER REVIEW AND REVISION OF WALLACH TESTIMONY (.7); REVIEW OF BANK EXHIBITS IN ANTICIPATION OF CROSS-EXAMINATION (1.0). KONSTANTINOS ARMIROS 6.20 hr. 12/08/09 CONFERENCE WITH CLIENT RE: HEARING, TESTIMONY AND FUNDING FOR ADEQUATE PROTECTION (.5); ASSEMBLE PLEADINGS AND EXHIBITS FOR HEARING (.8); CONFERENCE WITH CLIENT RE: DIRECT TESTIMONY AND PREPARATION FOR CROSS (1.0); ATTEND HEARING ON LENDER'S MOTION FOR RELIEF FROM STAY, INCLUDING OPENING STATEMENTS, EXAMINATION OF WITNESSES, CONFERENCE WITH CLIENT RE: FUNDING; FURTHER EXAMINATION OF WITNESSES, CLOSING STATEMENTS AND RULING (6.0). KONSTANTINOS ARMIROS 8.30 hr. 12/08/09 PREPARE FOR AND ATTEND EVIDENTIARY HEARING ON MOTION TO MODIFY STAY (.6); CONFERENCES WITH R. HELLERMAN AND D. ARMIROS RE: SAME (.4). MICHELLE G. NOVICK 0.4 12/08/09 SUMMIT — ATTEND COURT HEARING ON MOTION TO LIFT STAY. MIRIAM R. STEIN 2.50 hr. 12/09/09 TELEPHONE CONFERENCE WITH J. SOWKA, COUNSEL FOR WEITZ COMPANY, ADVISING OF THE RESULTS OF THE EVIDENTIARY HEARING ON THE MOTION TO MODIFY STAY. MICHELLE G. NOVICK 0.40 hr. 12/10/09 REGARDING LITIGATION (RELIEF FROM STAY) — EMAILS WITH K. ARMIROS REGARDING AMOUNTS FOR TAXES PER COURTS ORDER (.1); REVIEW EMAILS FROM BILL BARRETT, K. ARMIROS REGARDING SAME (.1). R.K. HELLERMAN 0.20 hr. 12/11/09 TELEPHONE CONFERENCE WITH CLIENT RE: AVAILABILITY OF FUNDS AND RELATED ISSUES (.3); TELEPHONE CONFERENCE WITH MR. BARRETT RE: FUNDING (.2); REVIEW ORDER AND RELATED PLEADINGS (.4). KONSTANTINOS ARMIROS 0.90 hr. LAW OFFICES ARNSTEIN LEHR LLP 120 S. RIVERSIDE PLAZA — SUITE 1200 CHICAGO, ILLINOIS 60606-3910 (312) 876-7100 THE SUMMIT AT COPPER SQUARE June 30, 2010 ATTN: DAVID T. WALLACH W DEVELOPMENTS, LLC Invoice: 860098 770 W. GLADYS, SUITE 208 CHICAGO IL 60661 KA Our Matter # 36582-0010 PLAN/DISCLOSURE STATEMENT FOR PROFESSIONAL SERVICES RENDERED THROUGH June 30, 2010 10/30/09 SUMMIT — MEETING WITH KEN MALEK REGARDING APPRAISING VALUES. JAMES A. CHATZ 0.50 hr. 11/07/09 SUMMIT — CONDUCT RESEARCH RE: VALUATION OF "VULTURE" DEBT OR DEBT PURCHASED AT DISCOUNT. KEVIN H. MORSE 1.50 hr. 11/13/09 SUMMIT — INITIAL DRAFT OF PLAN. MIRIAM R. STEIN 1.50 hr. 11/18/09 CONFERENCE WITH CLIENT AND CO-COUNSEL RE: PLAN OF REORGANIZATION, STRATEGIES, IMPAIRMENT AND RELATED ISSUES (1.0). KONSTANTINOS ARMIROS 1.00 hr. 11/25/09 SUMMIT — PREPARE DOCUMENTS FOR PLAN. MIRIAM R. STEIN 0.50 hr. 11/29/09 SUMMIT — DRAFT DISCLOSURE STATEMENT. MIRIAM R. STEIN 1.00 hr. 11/30/09 SUMMIT PLAN REORGANIZATION ISSUES — ANALYSIS OF PLAN VIABILITY COMPARED TO 363 SALE TO DIP LENDER (.50). KONSTANTINOS ARMIROS 0.50 hr. 12/01/09 SUMMIT — FINALIZE DRAFT OF PLAN. MIRIAM R. STEIN 2.00 hr. 12/02/09 REVIEW PRELIMINARY DRAFT OF PLAN (0.8). KONSTANTINOS ARMIROS 0.80 hr. 12/02/09 SUMMIT — MEETING REGARDING PLAN ISSUES. MIRIAM R. STEIN 1.50 hr. 03/16/10 SUMMIT — REVIEW TRANSCRIPT FROM LAST COURT HEARING. MIRIAM R. STEIN 0.60 hr. 03/17/10 SUMMIT — ATTEND COURT HEARING. MIRIAM R. STEIN 2.00 hr. 03/17/10 SUMMIT — CONFERENCE WITH CLIENT RE: RESPONSE TO BAD FAITH ARGUMENTS IN STERN'S BRIEF (.5); REVIEW OF STERN'S BRIEF (.5); COURT APPEARANCE RE: MOTION TO REIMPOSE STAY AND OTHER MATTERS (1.0). KONSTANTINOS ARMIROS 2.00 hr. 03/17/10 SUMMIT — MEETING WITH DAVID WALLACH REGARDING CONFIRMATION ISSUES. MIRIAM R. STEIN 1.00 hr. 03/17/10 SUMMIT — E-MAILS WITH WEITZ AND HOA REGARDING CONFIRMATION STATUS. MIRIAM R. STEIN 0.40 hr. 03/19/10 TELEPHONE CONFERENCE WITH CLIENT RE: PROJECTIONS AND DEBT SERVICE (.3); REVIEW PRIOR SPREADSHEETS TO DETERMINE CASH FLOWS (.2); CORRESPONDENCE TO EXPERT WITNESSES RE: ALTERNATIVES ON CASH FLOWS (.2). KONSTANTINOS ARMIROS 0.70 hr. 03/22/10 TELEPHONE CONFERENCE WITH JIM KNELLER RE: NEGOTIATING NORTHWIND DEFERRAL (.4); TELEPHONE CONFERENCE WITH CLIENT RE: STRATEGY FOR POTENTIAL SALE PLAN UNDER NEW PHILADELPHIA NEWSPAPERS RULING (.3); CORRESPONDENCE WITH EXPERTS RE: NEW SPREADSHEETS (.2). KONSTANTINOS ARMIROS 0.90 hr. 03/22/10 SUMMIT — WORK ON REVISIONS TO PLAN. MIRIAM R. STEIN 1.00 hr. 03/23/10 TELEPHONE CONFERENCE WITH EXPERTS RE: NEW SPREADSHEETS (.4); TELEPHONE CONFERENCE WITH CLIENT RE: FINAL TERMS OF FUNDING (.3); REVIEW NEW SPREADSHEETS (.2). KONSTANTINOS ARMIROS 0.90 hr. 03/23/10 SUMMIT — CONFERENCE REGARDING PLAN ATTACHMENT. MIRIAM R. STEIN 0.50 hr. 03/24/10 REVIEW FINAL VERSION OF PLANS (.3); DRAFT LANGUAGE RE: PRESENT VALUES AND TOTAL PAYMENTS (.3); TELEPHONE CONFERENCE WITH JIM KNELLER RE: NORTHWIND BALANCES (.2); TELEPHONE CONFERENCE WITH CLIENT RE: PLAN, FUNDING AND NORTHWIND ISSUES (.3); REVIEW AND APPROVE FINAL VERSION OF SPREADSHEET FOR INCLUSION WITH PLAN (.2). KONSTANTINOS ARMIROS 0.40 hr. 03/24/10 SUMMIT — FINALIZE DRAFT OF FINAL PLAN AND PREPARE FOR FILING. MIRIAM R. STEIN 3.00 hr. 03/24/10 SUMMIT — FINALIZE DRAFT OF FINAL DISCLOSURE STATEMENT FOR JOINT PLAN. MIRIAM R. STEIN 2.60 hr. 03/24/10 SUMMIT — DRAFT NOTICE OF CONFIRMATION HEARING. MIRIAM R. STEIN 0.40 hr. 03/25/10 TELEPHONE CONFERENCE WITH DAVID WALLACH RE: OUTSTANDING ISSUES, INCLUDING DISCLOSURE STATEMENT, DIVISION OF EQUITY FUNDING BETWEEN COMMERCIAL AND RESIDENTIAL, AND NORTH WIND SETTLEMENT (.5); REVIEW DISCLOSURE STATEMENT (.3); CORRESPONDENCE TO JIM KNELLER RE: SETTLEMENT ON NORTH WIND (.2); TELEPHONE CONFERENCE WITH DAN COLLINS RE: STEARNS ISSUES (.4). KONSTANTINOS ARMIROS 1.40 hr. 03/25/10 SUMMIT — WORK ON SERVICE OF PLAN AND DISCLOSURE STATEMENT. MIRIAM R. STEIN 0.50 hr. 03/25/10 SUMMIT — CONFERENCE WITH D. WALLACH REGARDING DISCLOSURE STATEMENT. MIRIAM R. STEIN 0.50 hr. 03/28/10 SUMMIT — E-MAILS WITH WEITZ REGARDING PLAN. MIRIAM R. STEIN 0.20 hr. 03/29/10 PREPARE CERTIFICATE OF SERVICE FOR 3/25/10 SERVICE OF NOTICE, BALLOTS, FOURTH AMENDED JOINT PLAN AND SECOND AMENDED DISCLOSURE STATEMENT ON ALL PARTIES (.3); ELECTRONICALLY FILE WITH BANKRUPTCY COURT (.2) BECKY L. SUTTON 0.50 hr. 04/02/10 SUMMIT — CALL WITH HOMEOWNERS COUNSEL REGARDING STIPULATION TO EXTEND DEADLINE TO FILE BALLOTS. MIRIAM R. STEIN 0.30 hr. 04/30/10 DRAFT CORRESPONDENCE TO KEN MALEK RE: NEEDED REVISIONS TO SPREADSHEET (.7); PREPARE SPREADSHEET CALCULATION OF CURRENT VALUE OF STEARNS LIEN (.5); CORRESPONDENCE TO PARTIES RE: SAME (.2); FURTHER REVISIONS TO NOTE (.5); FURTHER REVISIONS TO TRUST DEED (1.5). KONSTANTINOS ARMIROS 3.40 hr. 04/30/10 SUMMIT — FINALIZE DRAFT OF FIFTH AMENDED PLAN AND PREPARE FOR FILING. MIRIAM R. STEIN 2.00 hr. 04/30/10 SUMMIT — CONFERENCE WITH D. ARMIROS REGARDING TREATMENT OF STEARNS' CLAIM. MIRIAM R. STEIN 0.50 hr. 04/30/10 SUMMIT — CALL WITH COUNSEL TO MARICOPA COUNTY TREASURER REGARDING MODIFIED TREATMENT UNDER FIFTH AMENDED PLAN. MIRIAM R. STEIN 0.50 hr. 05/03/10 CONFERENCE WITH KEN MALEK REGARDING STRUCTURE OF NEW SPREADSHEETS AND PAYMENT PROGRAMS (1.0); CORRESPONDENCE TO KEN MALEK RE: PROJECTED PAYMENTS FOR CITY OF PHOENIX, GAS COMPANY AND INCREASED PAYMENTS TO STERN (.7) KONSTANTINOS ARMIROS 1.70 hr. 05/03/10 SUMMIT — CALL WITH HOA AND CITY OF PHOENIX REGARDING REVISED BALLOT. MIRIAM R. STEIN 0.30 hr. 05/03/10 SUMMIT — WORK ON CERTIFICATE OF SERVICE OF PLAN MATERIALS INCLUDING FILING OF REDLINED VERSION OF PLAN. MIRIAM R. STEIN 0.30 hr. 05/05/10 TELEPHONE CONFERENCE WITH KEN MALEK REGARDING ITEMS TO INCLUDE IN REVISED SPREADSHEET (.3); REVIEW NEW SPREADSHEET FROM KEN MALEK (.5); TELEPHONE CONFERENCE WITH CLIENT RE: SAME (.3) KONSTANTINOS ARMIROS 1.10 hr. 05/10/10 SUMMIT — CALLS REGARDING FILED PLAN. MIRIAM R. STEIN 0.30 hr. 05/11/10 SUMMIT — CALLS REGARDING PLAN AND CREDITOR'S NEED TO RE-VOTE. MIRIAM R. STEIN 0.50 hr. 05/24/10 SUMMIT — FINALIZE RESPONSE TO STEARNS OBJECTION. MIRIAM R. STEIN 1.50 hr. 05/25/10 REVIEW LOAN DOCUMENTS TO PREPARE FOR HEARING (.6); CONFERENCE WITH CLIENT RE: STRATEGY FOR HEARING (.3); ATTEND BANKRUPTCY COURT HEARING PERTAINING TO FINALIZING PLAN, RELEASE PRICES, CONFIRMATION FROM SPEEDWAGON AND RELATED ISSUES (2.0); CONFERENCE WITH CLIENT RE: STRATEGY AND FUNDING (.7); TELEPHONE CONFERENCE WITH CLIENT RE: TERMS OF COMMITMENT LETTER (.2); REVIEW AND REVISE SPEEDWAGON COMMITMENT LETTER (.5); TELEPHONE CONFERENCE WITH PARTIES RE NATURE OF COMMITMENT (.5); CORRESPONDENCE AMONG CLIENT AND CO-COUNSEL RE: FINAL TERMS OF COMMITMENT LETTER (.8). KONSTANTINOS ARMIROS 5.60 hr. 05/26/10 SUMMIT — ATTEND HEARING FOR MORNING PORTION OF CONFIRMATION HEARING AND POST-HEARING MEETING WITH CLIENT REGARDING STRATEGY. BARRY A. CHATZ 2.50 hr. 05/26/10 CONFERENCE WITH CLIENT PRIOR TO COURT APPEARANCE AND LETTER FROM SPEEDWAGON (.5); COURT APPEARANCE RE: CONTINUED STATUS ON PLAN CONFIRMATION (2.0); CONFERENCE WITH CLIENT AND CO-COUNSEL RE: STRATEGY ON BAD FAITH CLAIM, RELEASE PRICES AND CONFIRMATION ISSUES (1.0); COURT APPEARANCE RE: JUDGE'S RULING ON RELEASE PRICES, FUNDING ISSUES (.5); CONFERENCE CALL WITH SPEEDWAGON (.5); CONFERENCE WITH CLIENT RE: PRICING AND NEXT STEPS (.3); REVIEW STEARNS MOTION RE: SPEEDWAGON (.3). KONSTANTINOS ARMIROS 5.10 hr. 05/26/10 SUMMIT — CONFERENCE WITH D. ARMIROS REGARDING MORNING HEARING. MIRIAM R. STEIN 0.50 hr. 05/26/10 SUMMIT — ATTEND AFTERNOON COURT HEARING. (NO CHARGE) MIRIAM R. STEIN 1.80 hr. 05/26/10 SUMMIT — REVIEW STEARNS MOTION REGARDING SCHEDULING OF CONFIRMATION HEARING. MIRIAM R. STEIN 0.40 hr. 05/27/10 TELEPHONE CONFERENCE WITH CLIENT RE: NEW APPROACH ON PAYOFFS AND RESPONSE TO STEARNS BANK MOTION (.5); DEVELOPING FINANCIAL ANALYSIS FOR ANNUITY PLAN (.6); DRAFT AND REVISE MOTION PERTAINING TO ANNUITIES (1.0); CORRESPONDENCE WITH CLIENT AND CO-COUNSEL RE: REVISIONS AND FINAL APPROACH ON ANNUITY MOTION (.3). KONSTANTINOS ARMIROS 2.40 hr. 06/08/10 FURTHER REVIEW OF LOAN DOCUMENTS (.2); TELEPHONE CONFERENCE WITH CLIENT RE: CHANGES (.2); REVIEW CLIENT COMMENTS AND PROPOSE ALTERNATIVES (.3); CORRESPONDENCE TO BANK COUNSEL RE: OUTSTANDING ISSUES ON LOAN DOCUMENTS (.5) KONSTANTINOS ARMIROS 1.20 hr. 06/09/10 CONFERENCE WITH K. ARMIROS RE: SNDA. JOEL M. HURWITZ 0.20 hr. 06/09/10 REVIEW TRUST DEED. JOEL M. HURWITZ 0.40 hr. 06/09/10 START DRAFT OF SUBORDINATION, NONDISTURBANCE. JOEL M. HURWITZ 0.30 hr. 06/09/10 COURT APPEARANCE RE: LOAN DOCUMENTS (1.0); TELEPHONE CONFERENCE WITH CLIENT RE: SAME (.3); CONFERENCE WITH BILL BARRETT RE: SAME (.2). KONSTANTINOS ARMIROS 1.50 hr. 06/10/10 DRAFT SUBORDINATION, NONDISTURBANCE AND ATTORNMENT AGREEMENT. JOEL M. HURWITZ 1.10 hr. 06/11/10 MEMO TO K. ARMIROS. JOEL M. HURWITZ 0.10 hr. 06/11/10 DRAFT ADDITIONS TO SUBORDINATION, NONDISTURBANCE AGREEMENT. JOEL M. HURWITZ 0.40 hr. 06/14/10 DRAFT ADDITIONS TO SUBORDINATION NON-DISTURBANCE AGREEMENT. JOEL M. HURWITZ 0.30 hr. 06/15/10 DRAFT REVISIONS TO SUBORDINATION NONDISTURBANCE AGREEMENT. JOEL M. HURWITZ 0.30 hr. 06/18/10 TELEPHONE CONFERENCE WITH OPPOSING COUNSEL RE: STATUS OF DOCUMENTS (.3); TELEPHONE CONFERENCE WITH CLIENT RE: DOCUMENTATION AND FUNDING (.5); REVIEW SNDA (.2). KONSTANTINOS ARMIROS 1.00 hr. LAW OFFICES ARNSTEIN LEHR LLP 120 S. RIVERSIDE PLAZA — SUITE 1200 CHICAGO, ILLINOIS 60606-3910 (312) 876-7100 THE SUMMIT AT COPPER SQUARE June 30, 2010 ATTN: DAVID T. WALLACH W DEVELOPMENTS, LLC Invoice: 860091 770 W. GLADYS, SUITE 208 CHICAGO IL 60661 KA Our Matter # 36582-0011 CLAIMS ADM/CREDITOR ISSUES FOR PROFESSIONAL SERVICES RENDERED THROUGH June 30, 2010 10/26/09 (SUMMIT): REVIEW FACTS UNDERLYING CLAIM AGAINST STEARNS BANK. KONSTANTINOS ARMIROS 0.30 hr. 11/05/09 SUMMIT — DRAFT SECTION 366 MOTION FOR AN ADEQUATE ASSURANCE ORDER FOR UTILITIES. KEVIN H. MORSE 1.30 hr. 11/05/09 SUMMIT — PREPARE FORMAT FOR 366 MOTION'S EXHIBIT A AND DRAFT PROPOSED ORDER. KEVIN H. MORSE 0.40 hr. 11/05/09 SUMMIT — MEETING WITH K. MORSE REGARDING UTILITIES MOTION AND RETENTION MOTIONS. MIRIAM R. STEIN 0.30 hr. 11/09/09 SUMMIT — FINALIZE UTILITIES MOTION. MIRIAM R. STEIN 1.20 hr. 11/13/09 SUMMIT — REVISE UTILITIES SECTION 366 MOTION TO INCLUDE CREDITOR INFORMATION. KEVIN H. MORSE 0.70 hr. 11/16/09 SUMMIT — CALL J. MILLER RE: UTILITIES INFORMATION (.2); REVISE SECTION 366 UTILITIES MOTION (.2); SEND MOTION TO M. STEIN (.1). KEVIN H. MORSE 0.50 hr. 11/23/09 SUMMIT — CONFERENCE CALL WITH HOA COUNSEL REGARDING DECEMBER 2ND HEARING. MIRIAM R. STEIN 0.30 hr. 12/23/09 SUMMIT — REVIEW PROPOSED ADEQUATE PROTECTION LANGUAGE PROPOSED BY STEARNS REGARDING WATER BILL ISSUE AND E-MAILS TO D. WALLACH REGARDING SAME. MIRIAM R. STEIN 0.30 hr. 12/23/09 SUMMIT — FURTHER E-MAILS REGARDING ADEQUATE PROTECTION. MIRIAM R. STEIN 0.30 hr. 03/26/10 SUMMIT — CALL WITH DAVID WALLACH REGARDING PROPOSED SETTLEMENT AGREEMENT WITH NORTHWIND. MIRIAM R. STEIN 0.30 hr. 03/26/10 SUMMIT — REVIEW SETTLEMENT AGREEMENT. MIRIAM R. STEIN 0.50 hr. 03/28/10 SUMMIT — E-MAILS TO R. HELLERMAN REGARDING NORTHWIND PROPOSED SETTLEMENT. MIRIAM R. STEIN 0.30 hr. 04/02/10 SUMMIT — E-MAILS REGARDING PAYMENT TO NORTHWIND. MIRIAM R. STEIN 0.20 hr. 04/15/10 DRAFT STIPULATION FOR CITY CLAIM (.5); REVIEW REVISIONS FROM CITY ATTORNEY, TELEPHONE CONFERENCE WITH CITY ATTORNEY RE: DEAL NEGOTIATIONS AND FINAL FORM (.8); REVIEW BRIEF ON CLASSIFICATION ISSUES FOR FILING (.8) KONSTANTINOS ARMIROS 2.10 hr. 04/15/10 SUMMIT — DRAFT MOTION TO ALLOW HOA CLAIM AS TIMELY FILED. MIRIAM R. STEIN 1.70 hr. 04/15/10 SUMMIT — PREPARE MOTION TO ALLOW HOA CLAIM FOR FILING. MIRIAM R. STEIN 0.50 hr. 04/22/10 CORRESPONDENCE WITH PARTIES RE: UTILITIES AND TELEPHONE CONFERENCE WITH CLIENT RE: SAME (.3). KONSTANTINOS ARMIROS 0.30 hr. 04/26/10 SUMMIT — CALLS ON APS ISSUES. MIRIAM R. STEIN 0.30 hr. 04/27/10 SUMMIT — REVIEW OF ISSUES RELATING TO APS AND PAYMENT OF UTILITIES. MIRIAM R. STEIN 0.30 hr. 05/04/10 CORRESPONDENCE TO STERN'S COUNSEL REGARDING GAS ISSUES AND RELATED MATTERS (.3); FINAL REVISIONS TO NOTE AND TRUST AGREEMENT (1.0); TELEPHONE CONFERENCE WITH CLIENT REGARDING ELECTRIC BILL SITUATION (.3) KONSTANTINOS ARMIROS 1.60 hr. LAW OFFICES ARNSTEIN LEHR LLP 120 S. RIVERSIDE PLAZA — SUITE 1200 CHICAGO, ILLINOIS 60606-3910 (312) 876-7100 THE SUMMIT AT COPPER SQUARE June 30, 2010 ATTN: DAVID T. WALLACH W DEVELOPMENTS, LLC Invoice: 860096 770 W. GLADYS, SUITE 208 CHICAGO IL 60661 11/23/09 REGARDING LITIGATION (RELIEF FROM STAY) — TELEPHONE CONFERENCE WITH DAVID WALLACH (CLIENT) REGARDING ISSUES FOR ADEQUATE PROTECTION HEARING (1.0); OFFICE CONFERENCE WITH JAC, MRS, KA, MGN REGARDING SAME, STRATEGY AND ARGUMENTS FOR HEARING ON MOTION FOR RELIEF FROM STAY (1.0); REVISE MOTION TO COMPEL DISCOVERY PER JAC, KA, MGN COMMENTS (.8); TELEPHONE CONFERENCE WITH JAC, KA, DAVID WALLACH REGARDING ADEQUATE PROTECTION ISSUES, VALUATION, STRATEGY FOR HEARING (.7); CONTINUE REVIEWING ADDITIONAL MATERIALS REGARDING STEARNS BANK FOR ARGUMENTS FOR ADEQUATE PROTECTION HEARING, EXAMINATION OF WITNESSES (.7); FINALIZE DISCOVERY RESPONSES, DOCUMENTS TO BE PRODUCED (.6); EMAILS WITH DAVID WALLACH REGARDING VERIFICATION FOR DISCOVERY RESPONSES (.1); EMAILS TO COUNSEL REGARDING DISCOVERY RESPONSES, DOCUMENTS (.1). R.K. HELLERMAN 4.0 11/24/09 FINALIZE DEBTORS' MOTION TO COMPEL DISCOVERY AGAINST LENDER INCLUDING ALL EXHIBITS FOR FILING (.5); UPDATE SERVICE LIST (.3); PREPARE NOTICE OF MOTION AND DRAFT ORDER GRANTING MOTION (.5); ELECTRONICALLY FILE NOTICE AND MOTION WITH BANKRUPTCY COURT (.3); CONDUCT EXECUTION OF SERVICE BY FACSIMILE ON ALL PARTIES (.9) BECKY L. SUTTON 1.6 11/24/09 REGARDING LITIGATION (RELIEF FROM STAY) — TELEPHONE CONFERENCE WITH'S WITH COUNSEL FOR BANK REGARDING CONTINUANCE OF HEARING DUE TO JUDGES SCHEDULE, NEW DATES (.3); TELEPHONE CONFERENCE WITH COUNSEL, CLERK REGARDING NEW DATE, NEW SCHEDULE (.1); REVIEW PROPOSED ORDER FROM COUNSEL REGARDING SAME (.1); TELEPHONE CONFERENCE WITH'S DAVID WALLACH, KEN MALEK (EXPERT) REGARDING NEW DATE, AVAILABILITY (.2); REVIEW, REVISE RESPONSE TO MOTION FOR RELIEF FROM STAY (2.0); EMAIL TO COUNSEL REGARDING ADDITIONAL DOCUMENTS BEING PRODUCED IN DISCOVERY (.1). R.K. HELLERMAN 2.80 hr. 11/25/09 SUMMIT — EDIT BRIEFS AND ISSUES RELATIVE TO FRAUDULENT CONVEYANCES, IF POSSIBLE. JAMES A. CHATZ 0.50 hr. 11/30/09 PREPARE FILES, PLEADINGS AND EXHIBITS FOR 12/1/09 HEARING ON MOTION TO COMPEL DISCOVERY AGAINST LENDER FOR R. HELLERMAN BECKY L. SUTTON 0.80 hr. 11/30/09 PREPARE CERTIFICATE OF SERVICE FOR MOTION TO COMPEL DISCOVERY AGAINST LENDER (.3); ELECTRONICALLY FILE SAME WITH U.S. BANKRUPTCY COURT AND CONDUCT EXECUTION OF SERVICE (.5) BECKY L. SUTTON 0.3 11/30/09 REGARDING LITIGATION (RELIEF FROM STAY) — TELEPHONE CONFERENCE WITH KA, MRS, DAVID WALLACH, KEN MALEK REGARDING VALUATION ISSUES, STRATEGY REGARDING RENTALS FOR PLAN CONFIRMATION, ADEQUATE PROTECTION ISSUES FOR HEARING (1.0); REVISE, REVISE NEW DRAFT OF RESPONSE TO MOTION TO LIFT STAY (.6); REVIEW FINAL, AS FILED, RESPONSE TO MOTION (.5); REVIEW RESPONSE TO MOTION TO COMPEL DISCOVERY BY BANK, EXHIBITS TO MOTION, CASE LAW CITED IN MOTION (1.5); REVIEW ALL AUTHORITY IN MOTION TO COMPEL, RESPONSE REGARDING PREP FOR HEARING ON MOTION TO COMPEL (1.0); EMAILS WITH KA, MGN, MRS REGARDING ISSUES FOR MOTION TO COMPEL HEARING (.5); EMAILS WITH DAVID WALLACH REGARDING DEPOSITION OF AZUL, SCHEDULING (.1 ) R.K. HELLERMAN 5.20 hr. 12/01/09 SUMMIT — ATTEND COURT HEARING ON MOTION TO COMPEL PRODUCTION OF DOCUMENTS. MIRIAM R. STEIN 0.50 hr. 12/02/09 CONFERENCE WITH KEN MALEK, CLIENT AND CO-COUNSEL ALL RE: EXPERT TESTIMONY, EXPERT REPORTS AND LENDER REPORT (2.0). KONSTANTINOS ARMIROS 2.00 hr. 12/02/09 PREPARE FOR AND ATTEND MEETING, VIA TELECONFERENCE, WITH K. MALEK, EXPERT, D. WALLACH, K. ARMIROS AND R. HELLERMAN DISCUSSING EXPERT REPORT, WITNESS AND EXHIBIT LISTS AND UPCOMING EVIDENTIARY HEARING. MICHELLE G. NOVICK 1.40 hr. 12/02/09 SUMMIT MEETING ON EXHIBIT AND WITNESS LIST; PREPARE DOCUMENT FOR FILING AND SERVICE ON STEARNS BANK. MIRIAM R. STEIN 0.60 hr. 12/02/09 REGARDING LITIGATION (RELIEF FROM STAY) — MEETING WITH KEN MALEK, CARL SEIDMAN, DAVID WALLACH, KA, JAC, MGN REGARDING EXPERT REPORT, PLAINTIFFS EXPERT REPORT, ISSUES FOR HEARING ON ADEQUATE PROTECTION (2.0); REVIEW EXHIBIT LIST FROM BANK AND BEGIN REVIEWING CORRESPONDENCE PRODUCED IN DISCOVERY TO DETERMINE BANK'S EXHIBITS (.6); TELEPHONE CONFERENCE WITH KA, BANK COUNSEL REGARDING POSSIBLE STIPULATION REGARDING VALUE OF SUMMIT BEING LESS THAN BANK'S CLAIM (.2); TELEPHONE CONFERENCE WITH KA, MRS, DAVID WALLACH REGARDING ISSUES FOR ADEQUATE PROTECTION HEARING, FUNDING FOR EXPENSES (.6); REVISE EXHIBIT LIST, WITNESS LIST FOR DISCLOSURE TO BANK, FILING WITH COURT (.6); REVIEW INFORMATION REGARDING AMOUNTS PAID FOR LOAN BY BANK (.1); REVIEW HOA FINANCIAL INFORMATION FROM DAVID WALLACH FOR PRODUCTION TO BANK IN DISCOVERY (.2); REVIEW ADDITIONAL FINANCIAL INFORMATION ON LOANS FROM BANK (.2); VARIOUS EMAILS TO DAVID WALLACH, KA REGARDING ADDITIONAL PRODUCTION FROM BANK, INCLUDING SCHEDULE IDENTIFYING AMOUNT PAID BY BANK FOR LOAN (.2); EMAIL WITH KEN MALEK (EXPERT) REGARDING ADDISON PROPERTIES DECISION FOR LANGUAGE OF EXPERT REPORT (.1); BEGIN PREPARING CROSS-EXAMINATION OF BANK'S APPRAISAL EXPERT REPORT FOR HEARING BASED UPON MEETING WITH OUR EXPERTS (2.0). R.K. HELLERMAN 6.80 hr. 12/03/09 BEGIN CREATING .PDF COPIES OF 13 TO 14 RECORDS TO BE USED AT TRIAL; CREATE BATES OF EXHIBIT # AND MASTER INDEX. JOHN C. FULLER 1.20 hr. 12/03/09 REGARDING LITIGATION (RELIEF FROM STAY) — REVIEW FINAL REPORT FROM KEN MALEK, GREG DURIEZ FOR HEARING ON 12/8 (1.0); CONTINUE PREPARING CROSS-EXAMINATION OF BANK'S APPRAISAL EXPERTS AND PREPARE DIRECT EXAMINATION OF MALEK, DURIEZ FROM REPORTS (3.0); REVIEW ADDITIONAL FINANCIAL INFORMATION FROM BANK COUNSEL PER DISCOVERY (.4); REVIEW ADDITIONAL INFORMATION REGARDING HOA FROM DAVID WALLACH FOR DISCOVERY (.4); REVIEW EXHIBITS FOR TRANSMISSION TO BANK COUNSEL (.5); EMAILS WITH BANK COUNSEL REGARDING PRODUCTION OF SUPPLEMENTAL MATERIALS IN DISCOVERY, POSSIBLE STIPULATION (.3); EMAIL TO BANK COUNSEL REGARDING PRODUCTION OF CERTAIN EXHIBITS FOR HEARING (.1). R.K. HELLERMAN 5.70 hr. 12/04/09 FURTHER ENGAGED RE: CREATION OF ELECTRONIC EXHIBIT BINDER WITH `BOOKMARKED' ATTACHMENTS FOR COURT; TELEPHONE CONFERENCE WITH CLERK'S OFFICE RE: FURTHER CLARIFACTION ON SPECIFICATIONS; BURN CD'S AND CREATE LABELS; DELIVER FINALIZED CD COPY TO CLERK'S OFFICE. JOHN C. FULLER 2.60 hr. 12/04/09 PREPARE FOR HEARING, INCLUDING REVIEW OF EXHIBITS, REVIEW AND ASSEMBLE OUR EXHIBITS, REVISION OF SPREADSHEETS AND CONFORMING RECEIPTS AND FINAL ASSEMBLY AND PREPARATION OF EXHIBITS FOR TRANSMITTAL (2.0); TELEPHONE CONFERENCES WITH CLIENT AND OPPOSING COUNSEL RE: STIPULATIONS (1.0); TELEPHONE CONFERENCE WITH EXPERT RE: TESTIMONY AND LIMITED SCOPE (.5). KONSTANTINOS ARMIROS 3.25 hr. 12/04/09 SUMMIT — REVIEW STIPULATION ISSUES FOR TRIAL. MIRIAM R. STEIN 0.30 hr. 12/04/09 SUMMIT — REVIEW EXHIBIT ISSUES AND OBJECTION BY STEARNS BANK. MIRIAM R. STEIN 0.40 hr. 12/04/09 REGARDING LITIGATION (RELIEF FROM STAY) — REVIEW REORGANIZATION PLAN, DISCLOSURE STATEMENT (.6); REVIEW OBJECTIONS TO SUMMIT EXHIBITS BY BANK (.4); DRAFT MOTION IN LIMINE TO BAR PRE-PETITION EMAILS AND COMMUNICATIONS (.5); DRAFT OBJECTION TO BANK'S EXHIBITS (.2); CONTINUE PREPARING CROSS-EXAMINATION OF BANK'S EXPERT, EXAMINATION OF SUMMITS EXPERTS (1.5); TELEPHONE CONFERENCE WITH KA, BANK'S COUNSEL REGARDING POSSIBLE STIPULATION, OTHER AGREEMENTS REGARDING LIMITING SCOPE OF HEARING (.4); CONTINUE REVISING PROPOSED STIPULATION ON SCOPE OF HEARING, GROUNDS FOR RELIEF FROM STAY WITH KA, BANK'S COUNSEL (.4); EMAIL TO BANK COUNSEL REGARDING CONFIRMATION OF AGREEMENT REGARDING CONDUCT OF HEARING IN ADDITION TO STIPULATION (.3); REVIEW WEITZ (CONTRACTOR) OBJECTION TO MOTION FOR RELIEF FROM STAY (.6) — 4.9 R.K. HELLERMAN 4.90 hr. 12/07/09 PREPARE AND SEND EXHIBITS BINDER TO W. BARRETT; DELIVER REVISED FINALIZED ELECTRONIC EXHIBITS CD TO P. CASTENADA/HON. WEDOFF'S CHAMBERS. JOHN C. FULLER 0.40 hr. 12/07/09 REGARDING LITIGATION (RELIEF FROM STAY) — REVIEW KA PROPOSED EXAMINATION OF DAVID WALLACH FOR HEARING (.5); EMAIL TO KA REGARDING ISSUES, QUESTIONS (.3); CONTINUE TO PREPARE OUTSTANDING EXHIBITS FOR HEARING (.5); REVIEW MOTION IN LIMINE TO BAR EMAILS, BANK'S OBJECTIONS TO SUMMIT EXHIBITS FOR ARGUMENT AT HEARING (.5). R.K. HELLERMAN 1.80 hr. 12/08/09 LITIGATION (RELIEF FROM STAY) — MEET WITH KA, DAVID WALLACH REGARDING PREP FOR HEARING ON MOTION TO LIFT STAY (1.5); ATTEND HEARING ON MOTION TO LIFT STAY (6.0). R.K. HELLERMAN 7.50 hr. 01/06/10 SUMMIT — DISCUSSIONS WITH STEARNS' COUNSEL REGARDING TRIAL ORDER FOR CONFIRMATION HEARING. MIRIAM R. STEIN 0.30 hr. 01/11/10 SUMMIT — MEETING WITH D. ARMIROS AND R. HELLERMAN REGARDING TRIAL. MIRIAM R. STEIN 1.00 hr. 01/11/10 REGARDING LITIGATION [SUMMIT] — OFFICE CONFERENCE WITH MRS, KA REGARDING ISSUES FOR, HANDLING OF TRIAL. R.K. HELLERMAN 0.80 hr. 01/13/10 REGARDING LITIGATION [SUMMIT] — REVIEW PLAN, DISCLOSURE STATEMENT, AMENDED PLAN, AMENDED DISCLOSURE STATEMENT REGARDING ISSUES FOR CONFIRMATION HEARING. R.K. HELLERMAN 4.50 hr. 01/15/10 REVIEW AND RESPOND TO EMAILS FROM M. NOVICK RE ARIZONA SUPERIOR COURT CASE OF WEITZ V. THE SUMMIT AT COPPER SQUARE (.2); LOCATE CASE ONLINE AND REVIEW FOR FILED SUGGESTION OF BANKRUPTCY (.3); DOWNLOAD AND FORWARD COPY OF DOCKET TO M. NOVICK (.1) BECKY L. SUTTON 0.60 hr. 01/15/10 TELEPHONE CONFERENCE WITH J. SOWKA, COUNSEL FOR WEITZ, RE: LITIGATION IN ARIZONA AND DETERMINATION OF PRIORITY OF LIENS ON THE PROPERTY NOTWITHSTANDING BANKRUPTCY; REVIEW DOCKET FROM ARIZONA LITIGATION TO DETERMINE STATUS. MICHELLE G. NOVICK 0.60 hr. 01/19/10 REVIEW ARIZONA PLEADINGS (.6); CORRESPONDENCE TO AND FROM K. ARMIROS ADVISING HIM OF ISSUES WITH ONGOING ARIZONA LITIGATION NOTWITHSTANDING AUTOMATIC STAY AND EFFECT OF UPCOMING ANTICIPATED RULING IN LIGHT OF PENDING BANKRUPTCY CASE (.4). MICHELLE G. NOVICK 1.00 hr. 01/20/10 CORRESPONDENCE TO AND FROM J. SOWKA, COUNSEL FOR WEITZ, RE: STAYING LITIGATION IN ARIZONA WITHOUT COURT ORDER MODIFYING AUTOMATIC STAY BY LENDER. MICHELLE G. NOVICK 0.30 hr. 01/22/10 CORRESPONDENCE TO AND FROM C. CONNELLY, COUNSEL IN ARIZONA, RE: STAYING LITIGATION AND RULING ON MOTIONS FOR SUMMARY JUDGMENT TO DETERMINE LIEN PRIORITY ON PROPERTY (.5); TELEPHONE CONFERENCE WITH C. CONNELLY RE: SAME (.4); CORRESPONDENCE TO AND FROM K. ARMIROS RE: SAME AND REVIEWING MOTION TO STAY LITIGATION IN ARIZONA PRIOR TO FILING SAME WITH ARIZONA STATE COURT (.2). MICHELLE G. NOVICK 1.10 hr. 01/25/10 TELEPHONE CONFERENCE WITH ARIZONA COUNSEL RE: PROCEEDING IN STATE COURT CASE TO ADJUDICATE LIEN PRIORITIES (.2); REVIEW CORRESPONDENCE FROM COUNSEL RE: ISSUES (.1); TELEPHONE CONFERENCE WITH BILL BARRETT RE: NEEDED DOCUMENT REQUESTS (.1). KONSTANTINOS ARMIROS 0.40 hr. 01/26/10 REGARDING SUMMIT BANKRUPTCY — REVIEW VARIOUS OBJECTIONS FROM CREDITORS TO PLAN (1.0); OFFICE CONFERENCE WITH MRS, KA, KHM REGARDING HANDLING, RESPONSES (.6). R.K. HELLERMAN 1.60 hr. 01/27/10 REGARDING SUMMIT — REVIEW CASE LAW CITED IN STEARNS OBJECTION TO PLAN. R.K. HELLERMAN 0.60 hr. 01/29/10 REGARDING SUMMIT — TELEPHONE CONFERENCE WITH PMH, MRS, KA REGARDING RESPONSE TO VARIOUS ARGUMENTS IN OBJECTIONS TO PLAN; OFFICE CONFERENCE WITH KA REGARDING WITNESSES, EXHIBITS FOR HEARING ON PLAN CONFIRMATION. R.K. HELLERMAN 0.80 hr. 02/01/10 REGARDING SUMMIT LITIGATION — REVIEW NEW MOTION TO LIFT STAY BY UNIT OWNERS (.2); EMAILS WITH KA, MRS REGARDING HANDLING OF MOTION, POSITION ON MOTION (.1); REVIEW EMAIL FROM BANK'S COUNSEL REGARDING ADDITIONAL WITNESSES, INSPECTION (.1). R.K. HELLERMAN 0.40 hr. 02/02/10 SUMMIT — REVIEW EXHIBIT AND WITNESS REPORT AND DISCUSSIONS WITH R. HELLERMAN REGARDING SAME. MIRIAM R. STEIN 0.30 hr. 02/02/10 SUMMIT — PREPARE EXHIBIT AND WITNESS REPORT FOR FILING. MIRIAM R. STEIN 0.40 hr. 02/02/10 REGARDING SUMMIT LITIGATION — OFFICE CONFERENCE WITH DAVID WALLACH, KA, MRS REGARDING HANDLING OF CONFIRMATION HEARING (1.0); EMAILS WITH KA, MRS, DAVID WALLACH REGARDING DOCUMENTS FOR EXHIBITS, RENT ROLLS, HANDLING OF MOTION TO LIFT STAY (.4); TELEPHONE CONFERENCE WITH'S DAVID WALLACH REGARDING ADDITIONAL FINANCIAL INFORMATION, POSSIBLE EQUITY FINANCE FOR FUTURE OPERATIONS UNDER PLAN (.5); EMAILS WITH DAVID WALLACH, KA, MRS REGARDING ADDITIONAL EXHIBITS FOR EXHIBIT AND WITNESS LIST (.4); DRAFT WITNESS AND EXHIBIT LIST (.1). R.K. HELLERMAN 2.40 hr. 02/03/10 SUMMIT — REVIEW OF STEARNS BANK'S LIST OF EXHIBITS AND WITNESSES. MIRIAM R. STEIN 0.30 hr. 02/03/10 REGARDING SUMMIT — ATTEND MOTION TO LIFT STAY BY UNIT OWNERS (1.0); REVIEW PROPOSED MODIFICATIONS TO PLAN (.6); REVIEW EMAILS BETWEEN DAVID WALLACH, KA, MRS REGARDING MODIFICATIONS TO PLAN, TREATMENT OF NEW EQUITY (.3); REVIEW BANK'S LIST OF EXHIBITS AND WITNESSES (.1); OFFICE CONFERENCE WITH KA, MRS REGARDING CONFIRMATION HEARING, HANDLING (.4); RESEARCH REGARDING 203 N. LASALLE CASE REGARDING NEW EQUITY TREATMENT IN CONFIRMATION OF PLAN (.7). R.K. HELLERMAN 3.10 hr. 02/04/10 PREPARATION OF ELECTRONIC EXHIBITS 1 THRU 12 WITH BOOKMARKS WHERE APPLICABLE AND INDEX. JOHN C. FULLER 2.10 hr. 02/04/10 REGARDING SUMMIT — REVIEW EXHIBITS FROM LENDER (FINANCIALS, EXPERT REPORTS) REGARDING PREP FOR HEARING ON CONFIRMATION (2.5); MULTIPLE EMAILS WITH DAVID WALLACH REGARDING DEBTORS' EXHIBITS (.3); REVIEW DEBTORS' EXHIBITS FOR PRODUCTION TO LENDER, JUDGE BY 2/5 (.8); OFFICE CONFERENCE WITH AND EMAILS WITH JOHN FULLER REGARDING EXHIBITS FOR DISC FOR PRODUCTION TO LENDER, JUDGE (.7). R.K. HELLERMAN 4.30 hr. 02/05/10 SUMMIT — REVIEW STEARNS' OBJECTION TO DEBTOR EXHIBITS. MIRIAM R. STEIN 0.30 hr. 02/05/10 REGARDING SUMMIT — CONTINUE PREPARING EXHIBITS FOR HEARING NEXT WEEK (1.0); MULTIPLE EMAILS WITH DAVID WALLACH REGARDING EXHIBITS (.3); REVIEW NEW EXHIBIT FROM LENDER (REPORT FROM HOTEL EXPERT) (.7); REVIEW LENDER'S OBJECTIONS TO DEBTOR'S EXHIBITS AND WITNESS LIST (.3); MULTIPLE EMAILS TO LENDER'S COUNSEL REGARDING DEBTOR'S EXHIBITS (.2); REVIEW MULTIPLE EMAILS FROM LENDER'S COUNSEL WITHDRAWING OBJECTIONS TO DEBTOR'S EXHIBITS (.2); MEET WITH KA REGARDING PREP FOR HANDLING OF WITNESSES AT HEARING (.7). R.K. HELLERMAN 3.20 hr. 02/07/10 SUMMIT — REVIEW SCHULER REPORT AND OTHER STEARNS BANK EXHIBITS. MIRIAM R. STEIN 1.00 hr. 02/07/10 REGARDING SUMMIT — REVIEW EMAILS BETWEEN KA, DAVID WALLACH AND KEN MALEK (EXPERT) REGARDING FINANCIAL PROJECTIONS PER PLAN. R.K. HELLERMAN 0.60 hr. 02/08/10 REGARDING SUMMIT — REVIEW MEMORANDUM IN SUPPORT OF CONFIRMATION PLAN (1.3); OFFICE CONFERENCE WITH KA, MRS REGARDING CONFIRMATION HEARING (1.5); REVIEW NEW EXHIBIT FROM LENDER REGARDING SPREADSHEET FOR PAYMENTS (.3); PREPARE CROSS-EXAMINATIONS OF HOTEL EXPERT, RETAIL EXPERT FOR HEARING AND PREPARE EXAMINATIONS OF KEN MALEK, GREG DURIEZ FOR HEARING (2.5). R.K. HELLERMAN 5.60 hr. 02/08/10 SUMMIT — DRAFT AMENDED WITNESS/EXHIBIT LIST AND PREPARE DOCUMENTS FOR COURT. MIRIAM R. STEIN 0.30 hr. 02/09/10 SUMMIT — WORK WITH J. FULLER TO PREPARE EXHIBIT BINDERS. -450 MIRIAM R. STEIN 1.00 hr. 02/09/10 REGARDING SUMMIT — MEET WITH KEN MALEK, CATHERINE MATTHIEU, KA, MRS, RICK MANSOUR, DAVID WALLACH, GREG DURIEZ REGARDING PREP FOR HEARING ON CONFIRMATION, DIRECT EXAMINATIONS OF MALEK, MANSOUR, DURIEZ AND CROSS-EXAMINATIONS OF STEARNS' RETAIL AND RENTAL/HOUSING PROJECTION EXPERTS, STRATEGY REGARDING CONFIRMATION HEARING (8.0); REVIEW WALLACH AFFIDAVIT, AMENDED CHAPTER 11 PLAN, NEW EXHIBITS FROM STEARNS BANK, REGARDINGVISED LIST OF WITNESSES AND EXHIBITS FOR DEBTOR, BANK'S OBJECTIONS TO REVISED LIST OF WITNESSES FOR HEARING (1.6). R.K. HELLERMAN 9.60 hr. 04/01/10 REGARDING SUMMIT BANKRUPTCY — EMAILS WITH DAVID WALLACH, JIM KNELLER, BILL BARRETT REGARDING CONFIRMATION OF RECEIPT OF PAYMENT BY NORTHWIND REGARDING WITHDRAWAL OF STATUS HEARING DATE. R.K. HELLERMAN 0.20 hr. 04/02/10 REGARDING SUMMIT BANKRUPTCY LITIGATION — REVIEW FNBN, CHICAGO TITLE OBJECTIONS TO CONFIRMATION REGARDING PREP FOR HEARING. R.K. HELLERMAN 1.40 hr. 04/07/10 SUMMIT — PREPARE EXHIBIT LIST FOR CONFIRMATION TRIAL. MIRIAM R. STEIN 1.00 hr. 04/08/10 PREPARE 12 EXHIBITS FOR APRIL HEARING; BURN TO CD AND CREATE INDEX OF SAME. JOHN C. FULLER 2.30 hr. 04/09/10 REGARDING SUMMIT — TELEPHONE CONFERENCE WITH KA, KEN MALEK REGARDING ISSUES FOR CONFIRMATION HEARING. R.K. HELLERMAN 0.40 hr. 04/12/10 FURTHER ENGAGED RE: 04/13 EXHIBITS FOR HEARING; PREPARATION OF BINDERS; TRAVEL TO/FROM HON. WEDOFF'S CLERK'S OFFICE (P. CASTENADA); REVISE EXHIBIT 12. JOHN C. FULLER 1.20 hr. 04/12/10 REGARDING SUMMIT BANKRUPTCY CONFIRMATION — REGARDING-REVIEW AMENDED PLAN, MALEK REPORT, MANSUR EXHIBITS REGARDING PREP FOR DIRECT EXAMINATIONS OF MALEK AND MANSUR AND REVISE DIRECT EXAMINATIONS OF MALEK AND MANSUR FROM PRIOR EXAMS (3.2); REGARDING-REVIEW PARAGON REPORT AND REVIEW, REVISE CROSS-EXAMINATION OF PARAGON REPRESENTATIVE FOR CONFIRMATION HEARING (.6); MEET WITH KEN MALEK, KA REGARDING PREP FOR MALEK TESTIMONY (.6). R.K. HELLERMAN 4.40 hr. 04/13/10 SUMMIT — MEETING WITH D. WALLACH IN PREPARATION FOR TRIAL. MIRIAM R. STEIN 0.50 hr. 04/13/10 SUMMIT — FURTHER PREPARATION FOR TRIAL. MIRIAM R. STEIN 0.50 hr. LAW OFFICES ARNSTEIN LEHR LLP 120 S. RIVERSIDE PLAZA — SUITE 1200 CHICAGO, ILLINOIS 60606-3910 (312) 876-7100 THE SUMMIT AT COPPER SQUARE June 30, 2010 ATTN: DAVID T. WALLACH W DEVELOPMENTS, LLC Invoice: 860093 770 W. GLADYS, SUITE 208 CHICAGO IL 60661

COURTS/USBC-IL-I — BANKRUPTCY PETITION 1,039.00 AZPHOENIX 310 S 4TH STREET FEDERAL EXPRESS 23.47 DAY-N-NITE INC.: TO; 200 W MADISON, CHICAGO 15.00 CASH: CAB FARE HOME FROM WORK — THE SUMMIT AT COOPER 16.00 SQUARE/EXPENSES SECRETARIAL OVERTIME — DRAFT MOTION 45.00 SECRETARIAL OVERTIME — PREPARATION OF INVENTORY AND TRIAL 22.50 BINDERS DYNAMEX OPERATIONS EAST MESSENGER: CHICAGO DELIVERY 5.35 CHARGES DAY-N-NITE INC.: TO; 200 W MADISON, CHICAGO 3.00 AMERICAN TELECONFERENCING SERVICES LTD: CONFERENCE CALL 19.18 ADVANCED MESSENGER SERVICE: TO; 300 W MADISON, CHICAGO 8.00 ARTURO — D. ARMIROS — DAVID WALLACH — 2/9 73.56 WESTLAW 215.10 WESTLAW 215.10 JACKLEEN DE FINI, C.S.R.,: TRANSCRIPT OF PROCEEDINGS (3-10-10) RE; 73.00 SUMMIT AT COPPER SQUARE JACKLEEN DE FINI: TRANSCRIPT OF PROCEEDINGS 4/13/10 — SUMMIT 391.00 AT COPPER SQUARE JACKLEEN DE FINI: SUMMIT AT COPPER SQUARE, 09 B 38271 — 176.00 TRANSCRIPTS OF HEARINGS OF 5/26/10 AND 6/8/10 — SUMMIT FACSIMILE CHARGES 448.62 LONG DISTANCE TELEPHONE CHARGES 8.18 PHOTOCOPY CHARGES 4,292.90 SPECIAL POSTAGE/PRIORITY MAIL/EXPRESS MAIL CHARGES 633.99 Total Reimbursable Costs .................................. 7,723.95