EFTA01201861.txt

"From: Eileen Alexanderson To: jeffrey E. <[email protected]> Subject: FW: Second Round Offer: timber interest Date: Fri, 12 Dec 2014"

"Thomas W. Goodrich, CFA Partner Stafford Timberland"

"From: Tom Goodrich To: Michael T. Pilson Subject: Second Round Offer: SWF II"

"From: Alexander H. Mejia Sent: Friday, December 12, 2014 5:20 PM To: Eileen Alexanderson"

"I am pleased to submit Stafford's second round offer for your client's interest in Molpus SWF II. ... net purchase price is $15,863,547."

"I am pleased to submit Stafford's second round offer for your client's interest in Molpus SWF II. ... Bidder is offering a 14.9%discount to the 6/30 v"

"I will have Ada review. ... Our tax basis at 12/31/13 was $16,087,512. We will only know 12/31/14 cost basis when we receive the 2014 K-1."

"Eaton Partners will be due a 100 bp fee."

"Stafford Timberland Limited is registered as an investment advisor by the U.S. Securities and Exchange Commission (Firm# 168133)."