EFTA00997594.pdf

From: Eileen Alexanderson To: jeffrey E. <[email protected]>, Richard Joslin < > Subject: update on values Date: Thu, 25 Sep 2014 16:51:48 +0000 As part of insuring the new fieldhouse on the Bedford property, Chubb appraised the fieldhouse and determined the replacement cost to rebuild with like kind and quality materials would be $34,023,000. Understanding that replacement value does not always tie to FMV, we have been carrying the Narrow property on Leon's balance sheet at $30,000,000. Would seem like some adjustment would be appropriate. EFTA00997594