From: "Farkas, Andrew L."

From: "Farkas, Andrew L." To: [email protected] [email protected]> Subject: Fw: AYH Issue - Objection to St. Thomas Sports Fishing Center Inc. Application re: CZM Permit No. CZT-7-93W Date: Sat, 11 Jan 2014 21:33:43 +0000 Attachments: Objection_Letter IGY_AYHJo_STSFC.pdf I just received notice of this today. We will prosecute it aggressively, but I believe that john and cecile may be very tight with this gentleman. Any advice? On a separate note, woody and Soon Yi had dinner last night with Richard and Karen Lefrak at my cousin Georgette's restaurant. Small world! From: Mukamal, Thomas [mailto: Sent: Saturday, January 11, 2014 02:40 PM To: Farkas, Andrew L. Cc: Garrison, Frank; Mukamal, Tom Subject: AYH Issue - Objection to St. Thomas Sports Fishing Center Inc. Application re: CZM Permit No. CZT-7-93W Andrew — We filed an objection today to a permit application made by Paul Hoffman adjacent to AYH. If approved his application could have an impact on long term value at AYH. I believe that Hoffman's intentions are not good here as the net effect would be to force IGY to rent P-dock from him forever at an above market rent. I intend to fight this vigorously. I discussed with Frank yesterday and I would like to forward this objection letter (see attached) to Mr. Epstein with an opportunity to explain to him what is going on should he want to better understand the issues. I think he would want to know and I believe that we may want to seek his support on the ground to the extent he feels like he might be able to help. Please let me know if this is ok and, if so, what protocol you'd like me to follow for contacting him. Our objection will be public record on Monday and a hearing will be scheduled in the coming weeks so he might find out about it through others. I have attached the letter which I sent to DPNR today. Thanks, Tom From: Mukamal, Thomas Sent: Saturday, January 11, 2014 2:28 PM To Cc: A. James Casner III'; Simonton, Eric; Lande, Mark; Cole, Jan Subject: Objection to St. Thomas Sports Fishing Center Inc. Application re: CZM Permit No. CZT-7-93W Good Afternoon — Please see attached IGY-AYH St. Thomas Holdings, LLC objections to St. Thomas Sport Fishing Center, Inc.'s Application for Renewal of Major CZM Permit No. CZT-7-93W designated CZT-4-13W for submerged lands seaward of Parcel No. 16-3 Estate Smith Bay. St. Thomas, U.S. Virgin Islands. Hard copies to be delivered by hand on Monday. We are available to discuss at your convenience. Kind Regards, Tom Mukamal EFTA00871382 Tom Mukamal President Island Global Yachting Ltd. 717 Fifth Avenue, 18th Floor New York New York 10022 (T) (F) (E) 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. 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 andfor 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 Global Yachting LTD or any of its affiliates, each of which requires a fully executed agreement to be received by Island Global Yachting LTD or such affiliate. 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. EFTA00871383