e percentage rent clauses, in each case, such as the leases for Kimberly Vineyard, Blue Heron Farms, Quail Run Vineyard, Golden Eagle, Falcon Farms, Kingfisher Ranch and the mature portion of Condor Ranch, pursuant to which a portion of the rent is a fixed base rent and the remaining amount of rent depends on cr

recently appraised as of June 30, 2015 other than Falcon Farms, the second parcel of Kimberly Vineyard, the second parcel of Golden Eagle Ranch and Kingfisher Ranch, all of which were acquired between the fourth quarter of 2014 and the date of this prospectus and are held at cost. Each full appraisal was prepa

penditures from inception through June 30. 2015 were $22.2 million and total costs of the acquisitions of the second parcel of Golden Eagle Ranch and Kingfisher Ranch includes land costs and preliminary closing costs Represents expiring amoractual rent. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0

s an off-market property and was sourced by our Agricultural Sub-Adviser using its local presence and deep relationships. We acquired the property, Kingfisher Ranch, on August 21, 2015. We had also executed a purchase and sale agreement with the seller of a California mature permanent crop farm for an agreed up

Rights Blue Heron Farm 271044 3 years 11/30/17 PaIcon 12arnts: 1,16.9"I 2 years Earlier of 11130/6 or one week after the last day of the Kingfisher Ranch 43212,0 5 years 2016 harvest. 10/31/20 tra Specialty;vegetable row crops Sweetwater farm. 1.23.1 3 years 12/31/16 Sandpiper Ranh• 157 3