TRUSTEE RESOLUTION

TRUSTEE RESOLUTION APO-B TRUST The undersigned, as Trustee (the "Trustee") of the Discretionary Trust created under Clause FIRST of the Agreement known as the APO-B Trust made as of May 20, 2015 by and between the Trustee and Leon D. Black, as Grantor, has determined, pursuant to the authority granted in Clause EIGHTH (A) of the APO-B Trust, to invest the principal of the Discretionary Trust in the purchase of the Class B General Partnership interest (the "Interest") in AP Narrows LP, at a price equal to the Fair Market Value of the Interest as stipulated in the Purchase and Sale Agreement dated as of , 2016. This Resolution shall be effective as of , 2016. Bradley J. Wechsler, Trustee Recorded and Filed with the Books and Records of The APO-B Trust. By: Date: Doc/4: USI:9946529v8 EFTA01186004