From: Richard Kahn < Sent: Wednesday, November 18, 2015 3:52 PM To: Jeffrey E. Subject: Fwd: 9.15 Reporting - American Yacht Harbor Attachments: AYH 9.15 Quarterly Financial Statements.pdf; Untitled attachment 00427.htm not sure if this answers your email earlier this morning please advise if there was other information you were =eeking thank you Richard Kahn HBRK Associates Inc. 575 Lexington =venue 4th Floor New York, NY 10022 Begin forwarded message: From: =/b>"Lande, Mark" < Subject: =/b>RE:9.15 Reporting = American Yacht Harbor Date: =/b>November 18, 2015 at 9:56:40 AM =ST To: =/b>Richard Kahn < Cc: Jeanne Brennan < <mailto Richard, >, =Greene, Jennifer" < >, "Brown, Luke" < , "Lande, Mark Please find =ttached the Q3 2015 reporting. In response to your question, AYH =ecently signed a term sheet with Banco Popular that provided the =ollowing two options: Option 1 EFTA_R1_01940352 EFTA02671204

2 year =xtension with an interest rate of 2.83% Option 2 7 year extension with a fixed =nterest rate of 4.95%. Option 1 =oes not require an appraisal. Option 2 requires an appraisal showing a =TV Ratio of 75%. Both options would require amortization of =33,000 per month. IGY is in favor of option 2 and the lender has commissioned an appraisal which should be completed before Christmas. =f that happens it is our hope to close the loan shortly after the new =ear. Please let =e know if you have any questions. Yours, Mark Lande <mailto From: Richard Kahn Sent: Wednesday, November 18, 2015 7:23 AM To: Lande, Mark Cc: Jeanne Brennan; Greene, Jennifer; Brown, Luke; =ande, Mark >) Subject: Re: 6.15 Reporting - American Yacht =arbor Good morning Can you please update me on status if bank loan =enewal / extension Thank you Rich 2 EFTA_R1_01940353 EFTA02671205