From: "Farkas, Andrew L." ala>

From: "Farkas, Andrew L." ala> To: Florida Science Foundation leevacation@gmail.com> Subject: AYH Date: Wed, 30 May 2018 21:49:24 +0000 At an 8.5% cap rate, after allowing for a 2.5% annual capex requirement, we believe the current value approximates $20mm. There is a $12mm mortgage. As I said before, the asset has strategic value to the IGY network so IGY is not a seller at this number, nor, as someone who considers himself to be amongst your best friends, would I suggest that you be. But you asked and so I am responding. Current NOI approximates $1.7 mm. Also, your discounts on everything ranging from fuel to dockage to Office space approximates $180kJyear. That would add to the NOI. But even if IGY bought it I would not be so petty as to do anything less than just maintain those benefits to you. Anyway, it's your call. And I love you. So I do not wish to compel you either way. Xoxo Sent from my iPhone This message, and any attachments hereto, is confidential and intended exclusively for the use of the individual or entity to whom it is addressed. This communication may contain information that is confidential, proprietary, privileged, subject to a confidentiality and/or non-disclosure agreement, or otherwise exempt or protected from disclosure (either by contract or under applicable law). If you are not the intended recipient, you are hereby notified that printing, retaining, reproducing, copying, disclosing, disseminating or using this message or any information contained herein (including any reliance thereon) is strictly prohibited. If you have received this message in error, please contact the sender immediately and destroy the message (including any attachments) and any copies in their entirety, whether in electronic or hard copy format. Nothing contained in this e-mail shall be considered a legally binding agreement, amendment or modification of any agreement with Island Capital Group LLC or any of its affiliates, each of which requires a fully executed agreement to be received by Island Capital Group LLC or such affiliate. EFTA01046700