Luxury real estate put option Summary of preliminary indicative terms and conditions Form: Option Grantor: Option Grantee: Put Option: Reference Asset: Premium: Effective Date: Exercise Conditions: Exercise Date: Expiration Date: Strike Price: Administrative Costs: [Letter of Credit): Governing Law: Margining: Put Option Agreement documented pursuant to [standard ISDA documentation] (•] ("Investor) Deutsche Bank AG, London Branch or one of its affiliates ("DB') On or before the Exercise Date, the Option Grantee shall have the right to require the Option Grantor to purchase the Reference Asset at the Strike Price (the -Put Option") Units in a luxury high-rise condominium building located in Miami, Florida that serve as collateral to the DB Loan Facility, to be defined L + [6 ]% per annum to be paid quarterly on the notional outstanding on the DB Loan Facility [April Any date notified by the Option Grantee to the Option Grantor on which the Exercise Conditions are satisfied, for settlement 10 calendar days thereafter Written notice from Option Grantee on the Exercise Date only Option Grantee has been notified of a default under the DB Loan Facility and is in possession of the Reference Asset Option Grantee has provided at least 3 Business Days notice prior to Exercise Date The earlier of [4] years or the repayment of the DB Loan Facility USD 75 million (plus any administrative costs) Any administrative or other costs incurred in connection with the Put Option will be paid by the Option Grantor on the Exercise Date [Prior to signing an agreement on the Put Option, [the Option Grantor] has to provide a letter of Credit (the "Letter of Credit") to DB] New York [•] Confidential - Not for Distribution 3 CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0102588 CONFIDENTIAL SDNY_GM_00248772 EFTA01447829