<table><tr><th>From:</th><th>jeffrey E. &lt;jeevacation@gmail.com&gt;</th></tr><tr><td>Sent:</td><td>Thursday, April 30, 2015 7:20 PM</td></tr><tr><td>To:</td><td>Heather Gray</td></tr><tr><td>Subject:</td><td>Re: Re:</td></tr></table>

i would  ask larry how much the premium is? =A0 thats all .

On Thu, Apr 30, 2015 at 3:01 PM, Heather Gray &l=████████████████████<=a>> <mailto████████████████████> wrote:

Get an insurance figure meaning have =hristie's give us an insurance value for it? I'd be =ery, very concerned about them keeping it confidential ... Can we wait until Leon takes possession of it in February 2016? Until then,=Larry is insuring it for the full purchase price.

From: jeffrey E. [mailto:jeevacation@gmail.com]
Sent: Thursday, April 30, 2015 2:59 PM
To: Heather Gray
Subject: Re: Re:

also would be nice to get an insurance figure on a 1=0 million dollar PLASTER

On Thu, Apr 30, 2015 at 2:55 PM, Heather Gray < <mailto > &=t; wrote:

Still waiting for the Christie =99s rental guy to call me back. I'll call again. Frank=y, I think other collectors are just ignoring/aren't aware of the sales tax issue. =ut let's see what the Christie's guy has to say.=/u>

From: jeffrey E. [mailto:jeevacation@gmail.comj
Sent: Thursday, April 30, 2015 2:49 PM
To: Heather Gray
Subject: Re:

any more info on rental rates , of= the record. if we could get a 1 percent per year or les=. it might be worth it. if we can avoid sales tax

On Thu, Apr 30, 2015 at 2:40 PM, Heather Gray <██████████████████████ <mailto:██████████████████████> &=t;

wrote:

Hi Jeffrey,

I'll find someone at Paul Wei=s to discuss this with and will report back. For what it's w=rth, I think he should absolutely be able to do it under the trade-in credit rule= (section 526.5(f) of the Sales and Use Tax Regulations). But I =80 II find out from the PW folks.

Best,

Heather

From: Jeffrey E. [mailto:jeevacation@gmail.comj
Sent: Thursday, April 30, 2015 2:34 PM
To: Heather Gray
Subject:

heather, track down with someone at pw.=C2 whether as opposed to a 1031 leon coudl use other fully =aid for art to avoid sales tax if traded in to gogosian

this would not shelter gain, only limit sales =ax. to picasso minus trade

please no=e

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please no=e

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please no=e

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 <mailto:jeevacation@gmail.com> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved

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The information contained in this communication is confiden=ial, may be attorney-client privileged, may constitute inside informati=n, and is intended only for the use of the addressee. It is the propert= of JEE Unauthorized use, disclosure or copying of this communica=ion or any part thereof is strictly prohibited and may be unlawful. If =ou have received this communication in error, please notify us immediat=ly by return e-mail or by e-mail to jeevacation@gmail.com <mailto:jeevacation@gmail=com> , and destroy this comm=nication and all copies thereof, including all attachments. copyright -=11 rights reserved