From: Richard Joslin Sent: Friday, March 13, 2015 6:55 PM To: jeffrey E. Subject: RE: NAR funding Payment of TRA is made April 15 of the following year. From: Richard Joslin Sent: Friday, March 13, 2015 2:48 PM To: 'jeffrey E.' Subject: RE: NAR funding From: jeffrey E. [mailto:[email protected] Sent: Friday, March 13, 2015 2:42 PM To: Richard Joslin Subject: Re: NAR funding thanks On Fri, Mar 13, 2015 at 2:41 PM, Richard Joslin <[email protected] <[email protected]» wrote: Brad asked that I send you a composite list of assets held by each trust, BFP and Leon to assist with the selection of assets to fund NAR. I have used the Dec 31 2014 valuation reports and edited to remove investments that have been sold and to put a placeholder for planned investments. For assets shown at $1, some of these investments are reported on a tax basis for which there is an allocation of non-recourse debt. The upshot is that these may be real estate investments that may have terminal value Richard Joslin CFO Elysium Management LLC EFTA_R1_01373478 EFTA02371062