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3. Hubert Lindsey, counsel for the Defendant Turtle Reef, shall fur-
nish the Receiver an affidavit as to the amount of time actually soent in re-
presenting the said Receiver or Turtle Reef Associates, Inc~. , or American
Resort 1~lanagement, and the Receiver be and he is hereby authorized to
pay to the said counsel, based upon the number of hours recited in said
affidavit, which shall state the time when he commenced such work on behalf
of these Defendants, and including the number of hours and multiplying the
same by $100.00 per hour. Likewise, said affidavit shall include those costs
which have been billed to Turtle Reef, which, at the time of this hearing,
amounted to $942.18, with a representative percentage thereof being charge-
able to Turtle Reef or American Resort :~7anagement, the corporate defendants,
and the Receiver is authorized to pay such sums.
4. The Receiver be and he is hereby authorized to pay to himself,
based upon the number of hours submitted to the Court at the rate of
$50.00 per hour as partial, temporary Receiver's fees, the sum of $1, 500.~0.
S. The Receiver be and he is hereby authorized to oay 60 per cent
of the bill frcm the accountant, Xavier Wahner,. which said bill, as of the
date of this hearing, totals $21,000.00.
6. The request for instructions as to the disposition of 25 per cent
of the amount received from Home Savings and Loan Association, being
$28,250.00, the decision be and the same is hereby deferred on this item,
pending taking of testimony.
7. Receiver has reported the following items of potential liability for
obligations running from either American Res~rt rlanagement or Turtle Reef,
insofar as he has been advised or can perceive at this moment :
a) 1978 tax certificate (as of 7/ 31/ 80)
b) obligations of Turtle Reef Assaciates, as
follows :
Cat Cove
G.E. Credit (Porsche)
H M & t~~, C.P.A.
Hubert Lindsey, Esq. (fee & costs)
Southeastern Printing
TV Tempa
Travel Voucher
Wahner, C.P.A. ~
$11,691:14
$ 124. 8~
523. 86
3, 836. ~
6, 317. 57
?13. 76
1,500.00
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