Free Memorandum - District Court of Federal Claims - federal

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No. 05-1223 T (Judge Allegra) ______________________________________________________________________________ ______________________________________________________________________________

IN THE UNITED STATES COURT OF FEDERAL CLAIMS _____________________

CLEARMEADOW INVESTMENTS, LLC, CLEARMEADOW CAPITAL CORP., Tax Matters Partner, Plaintiff, v. THE UNITED STATES, Defendant. _____________________ APPENDIX B TO THE BRIEF IN SUPPORT OF DEFENDANT'S MOTION FOR SUMMARY JUDGMENT _____________________

RICHARD T. MORRISON Acting Assistant Attorney General DAVID GUSTAFSON ROBERT STODDART Attorneys United States Department of Justice Tax Division Court of Federal Claims Section Post Office Box 26 Ben Franklin Station Washington, DC 20044 TEL: (202) 307-6445 FAX: (202) 514-9440 ______________________________________________________________________________ ______________________________________________________________________________

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TABLE OF CONTENTS Page Declaration of Robert Stoddart. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Exhibit Number 1 Description Letter from Cantley & Sedacca, LLP, to Mark Hutton (Oct. 5, 2001). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Certificate of Formation of Clearmeadow Investments, LLC. . . . . . . . . . . 8 Operating Agreement of Clearmeadow Investments, LLC. . . . . . . . . . . . 10 Certificate of Incorporation of Clearmeadow Capital Corp.. . . . . . . . . . . 19 IRS Form 2553, Election by a Small Business Corporation. . . . . . . . . . . 21 Certificate of Filing for Certificate of Incorporation of Clearmeadow Capital Corp... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 Deutsche Bank Alex Brown Client Statement (Oct. 31, 2001). . . . . . . . . 24 Deutsche Bank Alex Brown Client Statement (Nov. 30, 2001). . . . . . . . 30 Deutsche Bank Alex Brown Client Statement (Dec. 31, 2001).. . . . . . . . 34 Deutsche Bank Alex Brown Client Statement, Canadian Dollars (Dec. 31, 2001). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39 Deutsche Bank Alex Brown Confirmation Statement, US Dollars (Dec. 14, 2001). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 Deutsche Bank Alex Brown Confirmation Statement, Canadian Dollars (Dec. 14, 2001). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43 Deutsche Bank Alex Brown Confirmation Statement, Canadian Dollars (Dec. 27, 2001). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44 Deutsche Bank Alex Brown Confirmation Statement, US Dollars (Dec. 27, 2001). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45 Cover letter from Clarion Capital, LLC, to Mark Hutton. . . . . . . . . . . . . 46 -i-

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[Declaration of Robert Stoddart, continued] Page Exhibit Number 15B Description Clarion Capital Statement of Account for Clearmeadow Investments, LLC, as of 12/29/01. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47 Societe Generale, Confirmation for Currency Linked Deposit Swap, Clearmeadow Investments, LLC (Oct. 15, 2001). . . . . . . . . . . . . . 49 Societe Generale, Confirmation for Currency Linked Deposit Swap, Clearmeadow Investments, LLC (Oct. 15, 2001). . . . . . . . . . . . . . 54 Letter from Clearmeadow Investments, LLC, to Craig Brubaker (Oct. 15, 2001). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58 Letter from Clearmeadow Investments, LLC, to Craig Brubaker (Oct. 10, 2001). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59 Letter from Clearmeadow Investments, LLC, to Craig Brubaker (Dec. 18, 2001). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60 Assignment of Limited Liability Company Units and Joinder Agreement (Oct. 19, 2001). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61 Amended and Restated Operating Agreement of Clearmeadow Investments, LLC (Oct. 19, 2001). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63 Assignment of Limited Liability Company Units and Joinder Agreement (Dec. 18, 2001). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 88 Letter from Clearmeadow Investments, LLC, to Craig Brubaker (Dec. 18, 2001). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91 Cover letter from Clearmeadow Investments, LLC, to Craig Brubaker, referencing a "Schedule A" (Oct. 10, 2001). . . . . . . . . . . . . . . 92 Schedule A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 93 Certificate of Assessments and Payments for Clearmeadow Investments, LLC.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94

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25B 26

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[Declaration of Robert Stoddart, continued] Page Exhibit Number 27 Description Form 1065, 2001 U.S. Return of Partnership Income of Clearmeadow Investments, LLC. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 97 Form 1120S, 2001 U.S. Income Tax Return for an S Corporation, Clearmeadow Capital Corp... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111 Excerpts from Form 1040, 2001 U.S. Individual Income Tax Return of Mark E. Hutton and Mary S. Hutton. . . . . . . . . . . . . . . . . . . . 126 Excerpts of a letter from Cantley & Sedacca, LLP, to Mark Hutton (Jan. 22, 2002). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 135 Letter from Cantley & Sedacca to Mark Hutton (Jan. 23, 2002). . . . . 146A Excerpts from the transcript of the deposition of Mark Hutton (May 8, 2007).. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 147 Hutton Deposition Exhibit 1: Investor representations.. . . . . . . . . . . . . 187 Huttton Deposition Exhibit 2: Letter from Clearmeadow Investments, LLC, to Craig Brubaker (Oct. 15, 2001).. . . . . . . . . . . . . . 191 Excerpts from the transcript of the deposition of Bryan Hanning (May 8, 2007).. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 192 Hanning Deposition Exhibit 1: Affidavit (Sept. 19, 2006).. . . . . . . . . . 217 Hanning Deposition Exhibit 2: Intake Summary. . . . . . . . . . . . . . . . . . 218 Hanning Deposition Exhibit 3: Letter from Cantley & Sedacca, LLP, to Mark Hutton (Oct. 4, 2001). . . . . . . . . . . . . . . . . . . . . . . . . . . . 221 Hanning Deposition Exhibit 4: Printout of e-mails to and from Mark Hutton, Bryan Hanning, and Jeremy Nerenberg (Nov. 30Dec. 6, 2001). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 224 Excerpts from the transcript of the deposition of Scott Hewitt (May 8, 2007). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 225

28

29

30

30A 31

31A 31B

32

32A 32B 32C

32D

33

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[Declaration of Robert Stoddart, continued] Page Exhibit Number 33A Description Hewitt Deposition Exhibit 2: Letter from Cantley & Sedacca, LLP, to Amy Klupny (March 1, 2002). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 253 Excerpt from Hewitt Deposition Exhibit 3: Draft Form 1065, 2001 U.S. Return of Partnership Income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 254 Excerpts from the transcript of the deposition of Daniel Brooks taken in NHB X, LLC, Norman H. Bevan, Tax Matters Partner v. Commissioner, No 17453-05 (Tax Ct. Nov. 30, 2006). . . . . . . . . . . . . . 257 Excerpts from the statement under oath of Edward Sedacca, taken in NHB X, LLC, Norman H. Bevan, Tax Matters Partner v. Commissioner, No 17453-05 (Tax Ct. Jan. 26, 2007). . . . . . . . . . . . . . . 323 Civil Docket for Hutton et al. v. Deutsche Bank AG et al., No. 072041 (D. Kan.). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 353 Excerpts from the complaint filed in Hutton et al. v. Deutsche Bank AG et al., No. 07-2041 (D. Kan.).. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 360 Excerpts from an order and opinion filed in Michael Ling et al. v. Deutsche Bank, AG, et al, No. 04 CV 4566 (S.D.N.Y.). . . . . . . . . . . 369A Order approving proposed notice and proof of claim, Michael Ling et al. v. Deutsche Bank, AG, et al, No. 04 CV 4566 (S.D.N.Y.) (Feb. 2, 2007).. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 369D Representative Exchange Rates for Selected Currencies for December 2001 (data archived by the International Monetary Fund). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 369I Final Partnership Administrative Adjustment Letter. . . . . . . . . . . . . . 369K

33B

34

35

36

37

38

39

40

41

Declaration of Martha TenEyck.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 370 Exhibit Number 1 Description Letter from the IRS to Mark E. and Mary S. Hutton (May 20, 2004). . . 374

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[TenEyck Declaration, continued] Page Exhibit Number 2 Description Form 15382, Notice of Election to Participate in Announcement 2004-46 Settlement Initiative.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 375 Letter from the IRS to Mark E. and Mary S. Hutton (July 21, 2004). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 378 Extract from Form 9984, Examining Officer's Activity Record. . . . . 378A Letter from the IRS to Anthony S. Gasaway (July 21, 2004). . . . . . . . . 379 Letter from the IRS to Mark E. and Mary S. Hutton (Dec. 22, 2004). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 380 Letter from the IRS to Mark E. and Mary S. Hutton (Jan. 21, 2005). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 381 Letter from the IRS to Mark E. and Mary S. Hutton (Feb. 7, 2005). . . . 384 Letter from the IRS to Mark E. and Mary S. Hutton (March 24, 2005). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 385 Letter from the IRS to Anthony S. Gasaway (March 24, 2005, 2005). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 388 Letter from the IRS to Mark E. and Mary S. Hutton (March 29, 2005). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 389 Letter from the IRS to Anthony S. Gasaway (March 24, 2005).. . . . . . . 390 Letter faxed by Anthony S. Gasaway to Martie TenEyck, IRS (April 11, 2005). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 391 Letter from the IRS to Anthony S. Gasaway (April 12, 2005). . . . . . . . 394 Form 2848, Power of Attorney and Declaration of Representative.. . . . 397 Letter faxed by Anthony S. Gasaway to Martie TenEyck, IRS (June 8, 2005). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 399

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IN THE UNITED STATES COURT OF FEDERAL CLAIMS ______________ No. 05-1223 T (Judge Allegra) CLEARMEADOW INVESTMENTS, LLC, CLEARMEADOW CAPITAL CORP., Tax Matters Partner, Plaintiff, v. THE UNITED STATES, Defendant. ______________ DECLARATION OF ROBERT STODDART ______________ I, Robert Stoddart, am an attorney employed by the Tax Division of the U.S. Department of Justice, and was assigned to defend this case on February 7, 2007. I am now the custodian of the files compiled by the attorneys who were assigned to defend this case before me. I make this declaration of my personal knowledge. 1. The attached Exhibits 1 through 6 and 8 through 25B are true copies of documents

that the plaintiff sent to the Tax Division as required by RCFC 26(a)(1). The plaintiff never sent us documents concerning a loan from Deutsche Bank or any affiliate. 2. The attached Exhibit 7 is a true copy of a document subpoenaed from Scott

Hewitt. It is substantially identical to a document the plaintiff produced as required by RCFC 26(a)(1), but it is clearer and better copied. 3. The attached Exhibit 26 is the original of a certificate of assessments and

payments that the Internal Revenue Service sent to the Tax Division after this case was filed.

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4.

The attached Exhibits 27 and 28 are true copies of tax returns that the Internal

Revenue Service sent to the Tax Division after this case was filed. 5. The attached Exhibit 29 is a true copy of selected pages from a tax return that the

Internal Revenue Service sent to the Tax Division after this case was filed. The IRS files in my possession show no audit of Mark Hutton's 2001 personal income tax return. 6. The attached Exhibit 30 is a true copy of pages from Cantley & Sedacca's tax

opinion, which the plaintiff's attorney sent to me at my request; Exhibit 30A is a true copy of a document I subpoenaed from Cantley & Sedacca. 7. The attached Exhibit 31 is the transcript of a deposition of Mark Hutton that I

took on May 8, 2007, in Wichita, Kansas. It accurately reproduces the questions asked and the answers given. To save space, I have presented the exhibit (except for the reporter's certification) in an electronic form derived from a diskette the stenographer sent to me. The deponent made no corrections. The electronic form preserves the content of the paper version, including the page and line numbering. Exhibits 31A and 31B are true copies of exhibits attached to the deposition transcript; the deponent authenticated these two exhibits. 8. The attached Exhibit 32 is the transcript of a deposition of Bryan Hanning that I

took on May 8, 2007, in Wichita, Kansas. It accurately reproduces the questions asked and the answers given. To save space, I have presented the exhibit in an electronic form derived from a diskette the stenographer sent to me. The electronic form preserves the content of the paper version, including the page and line numbering. Exhibits 32A, 32B, 32C, and 32D are true copies of exhibits attached to the deposition transcript; the deponent authenticated these exhibits.

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9.

The attached Exhibit 33 is an excerpt from a deposition of Scott Hewitt that I took

on May 8, 2007, in Wichita, Kansas. It accurately reproduces the questions asked and the answers given. To save space, I have presented the exhibit in an electronic form derived from a diskette the stenographer sent to me. The electronic form preserves the content of the paper version, including the page and line numbering. I typed an exhibit number on the first page. We received no signature page or corrections from Mr. Hewitt. 10. The attached Exhibit 34 is an excerpt from a transcript of the deposition of

Daniel Brooks taken in NHB X, LLC, Norman H. Bevan, Tax Matters Partner v. Commissioner, No 17453-05. John Aulettta, the IRS Chief Counsel attorney assigned to that case, sent me this transcript by e-mail. The exhibit accurately reproduces what he sent me, except that I typed an exhibit number on the first page. He also faxed me a copy of the reporter's certification, which I have appended to the transcript. 11. The attached Exhibit 35 is an excerpt from the statement under oath of Edward

Sedacca, taken in NHB X, LLC, Norman H. Bevan, Tax Matters Partner v. Commissioner, No 17453-05. John Aulettta, the IRS Chief Counsel attorney assigned to that case, sent me this transcript by e-mail. The exhibit accurately reproduces an excerpt of what he sent me, except that I added an exhibit number to the first page. He also faxed me a copy of the reporter's certification, which I have appended to the transcript. 12. The attached Exhibit 36 is a true copy of a docket sheet of the U.S. District Court

for the District of Kansas, which I downloaded from the PACER website. 13. The attached Exhibit 37 is a true copy of excerpts from a complaint filed with the

U.S. District Court for the District of Kansas, which I downloaded from the PACER website. -3-

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14.

The attached Exhibit 38 is a true copy of excerpts from an order and opinion filed

in Michael Ling et al. v. Deutsche Bank, AG, et al, No. 04 CV 4566 (S.D.N.Y.), which I downloaded from the PACER website. 15. The attached Exhibit 39 is a true copy of excerpts from the order approving

proposed notice and proof of claim filed in Michael Ling et al. v. Deutsche Bank, AG, et al, No. 04 CV 4566 (S.D.N.Y.), which I downloaded from the PACER website. 16. The attached Exhibit 40 is a true copy of a list of exchange rates for various

foreign currencies, which I downloaded from a website maintained by the International Monetary Fund. It can be found online at http://www.imf.org/external/np/fin/data/rms_mth.aspx? SelectDate=2001-12-31&reportType=REP. 17. The attached Exhibit 41 is a true copy the Final Partnership Administrative

Adjustment Letter issued to Clearmeadow Investments, LLC, for its 2001 taxable year. We received this document from the IRS. The plaintiff claims to have attached the document to its complaint (Compl. ¶ 3), but it is not attached to the copy served on the defendant. See the defendant's Answer, ¶ 3. The defendant cannot assume that the Court has a copy. 18. As required by General Order 42A, ¶ 25, I redacted all Social Security numbers

and financial account numbers from the exhibits attached to this Declaration and to the Declaration of Martha TenEyck, which appears later in this Appendix B, I declare under penalty of perjury that the foregoing is true and correct. Executed on August 14, 2007.

s/ Robert Stoddart ROBERT STODDART -4-

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CANTLEY & SEDACCA~ LLP
A TIORNEYS A T LAW

BECKTT O. CANY
PARTNER

)414 ?EACHTRE ROAD. NE. SUIE 105 ATLAA, GEORGIA 30326 T£L. (404) 442.2108 FAX (770) 234-6686

ATLTA, aA
DALLAS. 1'X SAN FR.~NçiSÇO. CA

October 5, 2001

Mr, Mark E. Hutton 2233 S. West Street Wichita, KS 67213

;; DEFENDANT'S

Re: Agreement for Your Legal Services
Dear Mark:

J
~

i

~IBIT

¡

Our law firm appreciates having the opportunity to provide legal services to you regarding your ta planing. As par of our service to you, it is importt that we both understand the scope of
our representation and our agreement regarding fees. You have engaged us to rev.iew the t3.-'
ramfications of a market link deposit investment strategy (the "Investment") and to research and

review the law supportng the issuance of a legal opinion letter for ths Investment (the "Opinion") and to issue an Opinion. Also, we have not been engaged to provide any type of advice regarding investent matters. The Opirùon will be based on the relevant facts provided to us by you and by Deutsche Bank ("Ban"), certain representations made to us by you and by Ban, and on the state of the law at the time it is rendered. It wil express our best professional judgment, applying a "more likely than not" standard, and will not be a guarantee.

The total flat fee for ths service is $150,000 (the "Flat Fee"). We request that you nOW forward the Flat Fee to our client escrow account. The Flat Fee Vvill be considered earned as of
October 5, 2001 and you agree that we may bill you for the service immediately and place the Flat Fee into our general fuds. However, we agree to continue our review of the Investment until the

you have paid us the Flat Fee and we have not issued an Opinion by April 15, ths Agreement indicates your approval oftils 2002, we wil refund the Flat Fee. Your execution of arangement.
Opinion is issued. If The Investment involves a substantial investment of shall bear all the economic risk of

your assets. You have ageed that you

the Investment. In making the Investment that v.ill be required as a par of the Investment, you have relied solely upon your (and your fincial advisor's) independent investigation of all matters or concerns regarding the Investment and the Investment. You (or your
financial advisor) possess the knOìNledge and experience in financial and business matters tht

ensures your (and your financial advisor's) capability to evaluate the merits and risks of the
Investent and you are therefore making an informed decision as to the Investment To assist us in

explaining the Investment to you, we have engaged one or more finacial advisors whom we will pay a fee for their assistance to us. Weare not financial advisors and have expressed no opinion as to the investment suitability of the Investment. Likev.ise, any financial advisor engaged by us has Dot expressed an opinion on the Im'estment on our behalf. You acknowledge that v,:e have made no

c c ~ .
matter.
5

QUarantee recrardino the successful determination of ths matter and that all expressions relati\'e

thereto are matters of our preliminary opinion based upon our curent knowledge of the subject
,ì 'Ìf'"

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October 5, 2001
Page 2

We emphasize tht any information tht you provide us during this representation must be complete and accurate to the best of your knowledge as we will be relying on such information in
providing your legal services. We also emphasize that all advice and/or planing is based on the
curent statu of the Intern Revenue Code of 1986, as amended, and related ta-x laws (the "Tax

Law"). We canot predict with any accuracy any future chage in the Ta.x Law and do not represent that the Tax Law will not result in a need for a change to your planing. This agreement when the prior discussions concerng the signed represents the entire agreement of the paries and all of this agreement entire subject matter hereof are merged herein and shall be considered to be a par of
and shall not surve the execution hereof This agreement canot be changed verbally and can only
be changed by another 'written agreement that must be signed by EI authorized representative of

thi

firm. Please indicate your approval of each of the terms of this engagement and fee ageement by
signing below. A copy of

ths agreement is also enclosed for your files.

As you are aware, investment in the Investment in the maner contemplated by Ban is anticipated to provide you with substantial ta benefits. Because of these benefits, there is a possibility that if your retu is reviewed, the IRS wm audit your tax retur, and that your tax retu

wil be scrutinized. Except as provided in the next paragraph, issuance of the Opinon to you ends
our responsibility Vlth regard to your investment and our engagement in this matter. We YVU have

no obligation or responsibility thereafter for advising you of tax law developments. Yau should understand that your reliance on the Opinion will not absolve you of the need to demonstrate that, in addition to potential tax benefits, you invested in the Investment because you believed, based on your
own independent evaluation, that you had a realistic possibility of

realizing a reasonable economic

profit from your investment witlout regard to any ta benefits.

We also agree to provide you an audit defense in the event that you alert us that your require Oil representation in connection vvth an examation by the Internal Revenue Servce of the
Investment as reported on your federal income tax retu. Such audit defense shall be provided to

you at both the audit stage and at the IRS Appeals Offce stage (if necessar). Such audit defense

shall not include representation at the U.S. Tax Cour, U.S. Distrct Cour or Court of Claims,
although we would be happy to discuss such a defense with you should the need arse. A second

nonrefundable flat fee of $25,000 ("Second Fee") will be due upon your alerting us that you require Oil representation. The Second Fee is limited to representation in connection with the Investment
and does not apply to any other items or tranactions on your retu that may be questioned by the Internal Reverme Service.

Our engagement is to represent you and only you. Oil represemation does not extend to any affliate of yours, and you should be a\1;are that we wil not be considered to have established an
anomey-client relationship Vvl.th 2ly such affiliate for an)' purose.

6

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October 5, 200 i
Page 3

Sincerely,

CANTLEY & SEDACCA, LLP

Beckett G. Cantley

APPROVED, AGREED TO AN ACCEPTED:

By: ~.a.~
ark E. Hutton

Date: LC?/S! 01

i.

7

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StatE of Delaware

Office of the Secretary of State

PAGE

1

I, HARIET SMITH WINDSOR, SECRETARY OF STATE OF THE STATE OF

DELAWAR, DO HEREBY CERTIFY THE ATTACHED is A TRUE AND CORRCT

COpy OF THE CERTIFICATE OF FORMTION OF II CLEARMDOW
INVESTMENTS, LLC1', FILED IN THIS OFFICE ON THE TENTH DAY OF
OCTOBER, A. D. 200 i, AT 9 0' CLOCK A.M.

r .. . DEFENDANT'S

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CERrmCÄTE OF FORMTION
OF

CLEAROW INESTMENTS, LLC
The UDemed, 2I autorze natur pern, for tie pwpOie of fomi a
líti: liailit compan (héMina cal me "company"). uner the proviS: an

sujec to the reuirements of the Delaware; Lite Liiiilty Comany Act, Mry
c t' fiei tht:

1. The nae of the ~d 1i2hlity colltly is CLEARMOW OOSTM, LLC
i. The: i1~ o! tbe registe off ce aid the: name an ttc ad of th
regiered a¡t of the lited libiltY coy -ruired to be maintaied by Secon i 8.

104 o.fthe Delaware Limired LiAility Comy Act ar Natonl Regst Agt¡¡~ In.,

9 Ea Loocken Strt, Dover, Delaw 1990J.
Execed on Octoer 91 2001-

Edwa Scèac~ &q.,

~;;cc~

AutQnzed Reresetative

STATE OF DELAWAR SECRETARY OF STATE DIVISION OF CORPRATIONS

9

FILED 09: 00 AM I 0/1 0/2001:~
010504828 - 3444679

7 ~