EFTA00787768.txt

"The submerged portion of the subject is owned by the Coastal Zone Management Commission"

"Title to the upland portion of the property is currently vested in the name of IGY-AYH St. Thomas Holdings, LLC"

"The submerged land is currently under the ownership of the Coastal Zone Management Commission"

"The subject's street address is 6100 Red Hook Quarters #2, in St. Thomas, USVI."

"Cassandra P. Webster-Hodge Assistant Vice President BANCO POPULAR VIRGIN ISLANDS"

"Buddy R. Urban, MAI Vice President... CBRE"

"James E. Agner, MAI Managing Director... CBRE"

"The majority of the property is submerged land owned by the St. Thomas Coastal Zone Management Commission"

"Dear Ms. Webster-Hodge: CBRE... has prepared an appraisal of the market value of the referenced property"

"CBRE did not observe any evidence of structural fatigue in the buildings or along the bulkhead/dockage"

"This building houses four tenants, the largest being the East End Café"

"The submerged portion of the subject is owned by the Coastal Zone Management Commission"

"The subject property is subject to the restrictions within the Submerged Land Lease administered by the Coastal Zone Management Commission"

"The site is within the jurisdiction of St. Thomas"

"The marina portion of the subject is situated on leased land owned by the government of St. Thomas."

"© 2007 CB Richard Ellis, Inc. ... in valuing the subject, only the soles comparison and income capitalization approaches are applicable"

"American Yacht Harbor 8 Morino 6100 Red Hook... St. Thomas, USYI"

"AMERICAN YACHT HARBOR & MARINA ASSUMPTIONS AND LIMITING CONDITIONS... CBRE does not warrant these forecasts"

"the subject is considered to be a Class B/C property primarily due to its location on the far eastern end of St. Thomas"

"Compiled by: CBRE"

"Mr. John Powers Senior Vice President MOF VI Limited Partnership"

"Albert PaiewonskY, Chairman, St Thomas CZM Committee"

"Mr. John Powers, Senior Vice President of MOF VI LIMITED PARTNERSHIP"

"Albert Paiewonsky, Chairman, St. Thomas CZM Committee"

"An annual fee of twenty-five thousand dollars (525.000.00) per year was negotiated... shall be made payable to DPNR"

"I, Mr. John Powers, Senior Vice President of MOF VI LIMITED PARTNERSHIP do hereby certify that as Senior Vice President of MOF VI LIMITED PARTNERSHIP,"

"Ronald W. Rhoades, President of American Yacht Harbor Corporation"

"American Yacht Harbor, Corporation, its General PasMer"

"Assignor intends to assign and transfer to Assignee, its successors and assigns, all of the Assignor's interest in the CZM Permits"

"The Assignments of Major Major Permit Nos. CZT-4-99W; CZT-53-85(SL) and CZT-81-87(L) are hereby APPROVED"

"Claudetta Smith Asst. that i am the Secretary of the Laacon Marina. Enc."

"Mr. John Powers Senior Vice President MOF VI Limited Partnership"

"Albert Paiewonsky, airman"

"I. Clark President Lagoon Marina, Lim"

"Claudette Smith... Secretary of the... Lagoon Marina, Lim"

"Government of the Virgin Islands agreed to accept 1,537 square feet of property owned by American Yacht Harbor Associates by appropriate deed to the G"

"Mr. John Powers Senior Vice President MOP' VI Limited Partnership"

"Austin Monsanto Acting Chairman, St Thomas CZM Cornmiinee"

"Ms. Janice D. Hodge. Director of CZM"

"Permittee is the Lagoon Marina, Inc. ... COASTAL ZONE PERMIT NO. CZT-53-85SL"

"Austin Monsanto Acting Chairman, St Thomas CZM Committee"

"Ms. Janice D. Hodge. Director of CZM"

"Dean C. Plaskett, Esq., Commissioner"

"James E. Agner, MAI Managing Director — Florida CB Richard Ellis, Inc."

"CLAUDE R. "BUDDY" URBAN, MAI Senior Real Estate Analyst/Multi-family Specialist CB Richard Ellis, Inc."

"Carl H. Freyer, do hereby certify that I am the General Partner of American Yacht Harbor Associates"

"The appraised property lies at the Red Hook Quarter #2 in the southeastern part of the island of Saint Thomas"

"Compiled by CBRE"

"The results of the most recent Nafionol Investor Survey, published by CBRE"

"I, Car 1 H. Fr... e yer dO hereby certify that I am the General Par... of Amer trail 'Mar tor 'Ascc Laces"