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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif"">Dear Legal Sub-<span style="color:black">T</span>eam,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif""><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif"">Please find attached a memorandum responding
<span style="color:black">to Rafael Pérez Galindo's questions concerning unincorporated associations, assigned to us on June 2.</span><o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:black"><o:p> </o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:black">Steven Chiodini</span><span style="font-size:12.0pt;font-family:"Times New Roman","serif";color:black">
<br>
</span><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:black">Adler & Colvin</span><span style="font-size:12.0pt;font-family:"Times New Roman","serif";color:black">
<br>
</span><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:black">235 Montgomery Street, Suite 1220</span><span style="font-size:12.0pt;font-family:"Times New Roman","serif";color:black">
<br>
</span><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:black">San Francisco, CA 94104</span><span style="font-size:12.0pt;font-family:"Times New Roman","serif";color:black">
<br>
</span><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:black">Tel: 415-421-7555</span><span style="font-size:12.0pt;font-family:"Times New Roman","serif";color:black">
<br>
</span><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:black">Fax: 415-421-0712</span><span style="font-size:12.0pt;font-family:"Times New Roman","serif";color:black">
<br>
</span><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:black">email:
<a href="mailto:schiodini@adlercolvin.com">schiodini@adlercolvin.com</a></span><span style="font-size:12.0pt;font-family:"Times New Roman","serif";color:black">
<br>
</span><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:black"><a href="http://www.adlercolvin.com">www.adlercolvin.com</a></span><span style="font-size:12.0pt;font-family:"Times New Roman","serif";color:black">
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:black">The information in this e-mail message and any attachments may be privileged, confidential, and protected from disclosure. If you are not the intended recipient,
any use, dissemination, distribution, or copying of this transmission is strictly prohibited. If you think that you have received this e-mail message in error, please e-mail the sender at
<a href="mailto:schiodini@adlercolvin.com">schiodini@adlercolvin.com</a>, and delete all copies of this message and its attachments, if any. Thank you.</span><span style="color:black"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:black"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:black"><o:p> </o:p></span></p>
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