r ASSIGNMIVIT OF COASTAL ZONE MANAGEMENT PERMIT NOS. CZT-4-99(W), CZT-81-87(L) and CZT-53-85(SL) ASSIGNMENT made this r3 kday of atedistear , 2006 from MOF VI Limited Partnership, a U.S. Virgin Islands limited partnership, whose mailing address is, 4801 Spring Valley Road, Suite 80, Dallas, Texas 75244 (the "Assignor") to IGY-AYH ST. THOMAS HOLDINGS, LLC, a U.S. Virgin Islands limited liability company whose mailing address is cio Island Capital. Group LLC, 717 Fifth Avenue, 18th Floor, New York, New York 10022 (the "Assignee"). WHEREAS, Assignee is the Permittee under Coastal Zone Management Permit Nos. CZT-4-99W, CZT-81-87L and CZT-53-85SL with effective dates of September 14, 2000, May 12, 1988 and January 24, 1986, respectively, copies of which are attached hereto as Exhibits A, B and C and made a part hereof, together with any and all modifications, extensions, renewals, applications for renewal and reconstruction permits issued in connection therewith (collectively, the "CZM Permits"), granted by the St. Thomas Committee of the Virgin Islands Coastal Zone Management Commission as Permitter, respecting the development, use and occupancy of the Premises described in Exhibit D attached hereto and made a part hereof together with the adjoining submerged lands; WHE , Assignor and Assignee entered into a Purchase and Sale Agreement dated as of G Sa 6er .22 , 2006 ("Agreement") pursuant to which Assignee agreed that it would accept delivery from Assignor ot, and Assignor agreed to assign, transfer and deliver to Assignee, on the Closing Date (as defined in the Agreement), Assignor's right, title and interest in the Property (as defined in the Agreement) and Assignor agreed to deliver to Assignee an assignment, transfer and delivery as to Assignor's rights under the CZM Permits to be sold to Assignee, and Assignee agreed that Assignee would sign this document to evidence Assignee's assumption of the liabilities to be assumed by Assignee