From: Eileen Alexanderson
Sent: Monday, April 27, 2015 10:05 PM
To: jeffrey E.
Subject: PFS liabilities

Numbers for outstanding balance on loans I quoted of= the top of my head were correct-PFS was done with 12/31/14 balances rathe= than the normal 3/31 we have submitted in the past b/c B of A wants PFS e=rlier than usual.

<table><tr><th>&amp;nbs=;</th><th>&amp;=bsp;</th><th>&amp;nbs=;</th><th colspan="2">&amp;=bsp; 12/31/14</th><th>=nbsp;</th></tr><tr><td>Loan payable ART</td><td>=nbsp;</td><td>$470  mil</td><td>=nbsp;</td><td>&amp;nb=p;</td><td></td></tr><tr><td>Loan payable</td><td colspan="2">BJAV = $17.3mi1</td><td></td><td></td><td></td></tr><tr><td>Loan payable Plane</td><td>&amp;nb=p;</td><td>$21.0mil</td><td></td><td></td><td></td></tr><tr><td>&amp;nbs=;</td><td>&amp;=bsp;</td><td>&amp;nbs=;</td><td colspan="2">&amp;=bsp; $S08.3mil</td><td></td></tr></table>

On PFS, Rich added $6.6mi1 in 'accounts payabl= bringing total to the $515mil you made mention of.

You will need to ask Rich to provide you with detail=on the A/P.

Eileen Alexander=on

Elysium Management<=:p>

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