From: Heather Gray

From: Heather Gray To: jeffrey E. <[email protected]> Subject: fair rental value Date: Wed, 29 Apr 2015 17:56:12 +0000 Attachments: doc04941320150429125801.pdf Hi Jeffrey, Yes, they definitely are. Attached are the materials they provided to Ada in December 2013 when they were just getting their fair rental appraisal business off the ground. I'm sure they would be happy to give us an update about how many they have done, how exactly they are doing them, etc., if you'd like. Best, Heather From: jeffrey E. [[email protected]] Sent: Wednesday, April 29, 2015 1:39 PM To: Heather Gray Subject: Re: Dante heaterh , can you find out whether christies is providing rental rates for art? cuirous On Wed, Apr 29, 2015 at 12:00 PM, Heather Gray • wrote: Hi Marie, Will you please print this email and the attachments and give it all to Leon? Thanks very much, Heather Dear Leon, Marie is giving you the wire transfer forms so that the four trusts can pay for the Dante. You are the Trustee of each of the trusts, so we need your signature on the forms to authorize the wire transfers. The total purchase price for the Dante is $8,818,875 ($8,100,000 purchase price plus $718,875 of New York sales tax). Each of the trusts will pay 25% of the total purchase price, or $2,204,718.75. We have set up an LLC for the trusts to use to hold the Dante, but we do not want to delay payment by waiting for the LLC's bank account to be open, so the trusts are going to pay Luxury Catalogues (Stephan Loewentheil's company) directly and these payments will be treated as the trusts' initial contributions to the LLC. Brad and Jeffrey have approved this arrangement. Brad, will you please reply by email to officially sign off on these payments? Leon please sign all four forms in the spaces indicated. Please let me know if you have any questions. Best, Heather EFTA00667831 Heather Gray Elysium Management LLC 445 Park Avenue Suite 1401 New York, New York 10022 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 [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA00667832