EFTA01001573.txt

"From: "Jeffrey E." <[email protected]> To: Brad Wechsler Subject: Re: Art Entity Date: Mon, 24 Nov 2014"

"Leon's initial contribution to the new entity... will consist of only non-collateralized art"

"As I understand your discussion with Alan, Leon's initial contribution to the new entity... alan and I have agreed 90 percent of new structure"

"Leon wants to distribute the collateralized art still in Narrows I to Narrows III"

"leon as gp woudl make all"

"the plan it to then go to BAC to tell them that Leon wants to distribute the collateralized art still in Narrows I to Narrows III"