wrote: said you were looking for a summary of the two 1031 exchanges that we are hoping to complete. Attached are spreadsheets showing the proposed AP Narrows LP (the art partnership) exchange and the proposed LDB 2011 LLC exchange. The exchanges must be completed by midnight on Wednesday, November 23, 2016.

, John said you were looking for a summary of the two 1031 exchanges that we are hoping to complete. Attached are spreadsheets showing the proposed AP Narrows LP (the art partnership) exchange and the proposed LDB 2011 LLC exchange. The exchanges must be completed by midnight on Wednesday, November 23, 2016.

, John said you were looking for a summary of the two 1031 exchanges that we are hoping to complete. Attached are spreadsheets showing the proposed AP Narrows LP (the art partnership) exchange and the proposed LDB 2011 LLC exchange. The exchanges must be completed by midnight on Wednesday, November 23, 2016

, John said you were looking for a summary of the two 1031 exchanges that we are hoping to complete. Attached are spreadsheets showing the proposed AP Narrows LP (the art partnership) exchange and the proposed LDB 2011 LLC exchange. The exchanges must be completed by midnight on Wednesday, November 23, 2016.

, John said you were looking for a summary of the two 1031 exchanges that we are hoping to complete. Attached are spreadsheets showing the proposed AP Narrows LP (the art partnership) exchange and the proposed LDB 2011 LLC exchange. The exchanges must be completed by midnight on Wednesday, November 23, 2016

osian has one final change to the Picasso agreement. As you know, we have structured this agreement with the Buyer as either Narrows Holdings LLC or AP Narrows LP, and given both of those entities the right to assign the agreement to any one among Leon, Debra, the kids, or family trusts including APOI and APO2

p < Subject: AP Narrows - art Insurance Dear Alan and Jeffrey, I spoke with Jeffrey Haber about arranging for a new fine arts insurance policy for AP Narrows LP. He said that it would be extremely difficult to obtain a new policy for AP Narrows because of capacity issues. There are a number of insurance com

ment of $23 million on the Picasso this Thursday, May 14th. As you know, the contract is structured with the buyer as either Narrows Holdings LLC or AP Narrows LP (the new art partnership), with those entities having the right to assign the work to any of Leon, Debra, the kids or trusts for any of their benef

ment of $23 million on the Picasso this Thursday, May 14th. As you know, the contract is structured with the buyer as either Narrows Holdings LLC or AP Narrows LP (the new art partnership), with those entities having the right to assign the work to any of Leon, Debra, the kids or trusts for any of their benef

ment of $23 million on the Picasso this Thursday, May 14th. As you know, the contract is structured with the buyer as either Narrows Holdings LLC or AP Narrows LP (the new art partnership), with those entities having the right to assign the work to any of Leon, Debra, the kids or trusts for any of their benef

ment of $23 million on the Picasso this Thursday, May 14th. As you know, the contract is structured with the buyer as either Narrows Holdings LLC or AP Narrows LP (the new art partnership), with those entities having the right to assign the work to any of Leon, Debra, the kids or trusts for any of their benef

ment of $23 million on the Picasso this Thursday, May 14th. As you know, the contract is structured with the buyer as either Narrows Holdings LLC or AP Narrows LP (the new art partnership), with those entities having the right to assign the work to any of Leon, Debra, the kids or trusts for any of their benef

osian has one final change to the Picasso agreement. As you know, we have structured this agreement with the Buyer as either Narrows Holdings LLC or AP Narrows LP, and given both of those entities the right to assign the agreement to any one among Leon, Debra, the kids, or family trusts including APOI and APO2

osian has one final change to the Picasso agreement. As you know, we have structured this agreement with the Buyer as either Narrows Holdings LLC or AP Narrows LP, and given both of those entities the right to assign the agreement to any one among Leon, Debra, the kids, or family trusts including APOI and APO2

ent of Sale, along with a redline showing the change I made. As we discussed, I have made the "Buyer" of the Picasso either Narrows Holdings LLC or AP Narrows LP, and have also reserved the right for the Buyer to assign the agreement to Leon, Debra, his children, or a trust or entity created by or primarily

at each child is the grantor of his or her respective trust, so if the trusts purchase the Dante and then contribute their interests in the Dante to AP Narrows LP EFTA00858355 in exchange for limited partnership interests, AP Narrows will be treated as a partnership for income tax purposes (not a pass-throu

at each child is the grantor of his or her respective trust, so if the trusts purchase the Dante and then contribute their interests in the Dante to AP Narrows LP in exchange for limited partnership interests, AP Narrows will be treated as a partnership for income tax purposes (not a pass-through entity). I'

at each child is the grantor of his or her respective trust, so if the trusts purchase the Dante and then contribute their interests in the Dante to AP Narrows LP in exchange for limited partnership interests, AP Narrows will be treated as a partnership for income tax purposes (not a pass-through entity). I'

AR_Investments_LLC_Agreement_(2.2.pdf; AP_Narrows_LP_Agreement_(3) (2.2.15_Execution_Copy).doc Jeffrey, Attached are the governing instruments for AP Narrows LP and NAR Investments LLC, together with summary term sheets. There are no substantive changes from the last drafts sent to you. I am getting ready to

0 Olnar 515.000 - 515.000 Marketable Spounbes 1.831925 • 1.039.925 *vestments Art. Bronzes and Rare Books• 2225.335.875 - 2.225.325.875 AP Narrows LP 74.880.315 74.580.375 Fnends Ventures LLC 12.500.000 - 12.500.000 GRAT Nos 5 • 8 (16 64% or BLit* Famly Pennas)•• 278.693.542 - 276.893.842