From: "Jeffrey E." <jeevacation@gmail.com>

From: "Jeffrey E." <jeevacation@gmail.com> To: Richard Kahn Subject: Fwd: AYH Date: Wed, 30 May 2018 21:56:55 +0000 it begins Forwarded message From: Farkas, Andrew L. <1 Date: Wed, May 30, 2018 at 5:49 PM Subject: AYH To: Florida Science Foundation <jeevacation®gmail.com> 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. please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation®gmail.com, and EFTA01046727 destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA01046728