From: Farkas, Andrew L. Sent: Friday, August 2, 2013 8:13 PM To: Florida Science Foundation Subject: Evaluation Jeffery, my dear friend, this will be the last time I write on this matter =ecause, as I have told you, I have turned the management of the issue over=to Frank Garrison who has sole authority. I have done so in consideration =f the many conflicts for me inherent in this dispute. At your request I have done some more homework including having looked at t=e page in the appraisal to which you referred me. Not only does my positio= stand, but it has been materially reinforced. The appraisal on which you now appear to be relying to demonstrate that you=were somehow harmed was performed in connection with a valuation of AYH al=ne, commissioned by Banco Popular, 6 months after the asset was purchased.=The pertinent language of the appraisal to which you directed me states, "=he subject was part of a larger purchase of four marina properties in the =aribbean. The seller was Sun Resorts which owned the subject outright and=various interests in the other three marinas. The sale price is slightly =igher than our value estimate which could be the result of allocated costs=of the portfolio sale." This presumption by the appraiser is inaccurate a=d thus misleading and erroneous in several aspects. 1) The appraiser had absolutely no knowledge of the structure, pricing or c=mponents of the Sun Resorts deal nor did he do any evaluation of any facts=related to it. His work was limited exclusively to a valuation of AYH alon=. While he states that the sale price is "...slightly higher than our valu= estimate which COULD [emphasis added] be the result of allocated costs o= the portfolio sale," the comment is entirely gratuitous. The appraiser di= zero work around the so called, "portfolio sale," had no knowledge of its=terms, conditions, pricing or structure and read no documents. His gratuit=us statement that the pricing COULD have been a function of