EFTA01793816.pdf

From: Farkas, Andrew L. Sent: Monday, December 20, 2010 11:09 PM To: [email protected]* Subject: Fw: AYH Roof Leak From: Mukamal, Thomas To: Farkas, Andrew L. Cc: Garrison, Frank Sent: Mon Dec 2018:02:28 2010 Subject: AYH Roof Leak Andrew — I understand that Joe Walling spoke to Cecil today and that . Joe has explained to me that he is aware of the problem. The leak is not stemming from the roof — which was fixed this summer. Apparently, there are AC Units housed under the roof which leak into Financial Trust's space. The ceiling tiles in Cecile's office have been replaced and the problem predates our ownership (no excuse). We have tried over the past few years in a number of ways to patch the roof or other types of fixes but doesn't seem to work. Joe is aware of similar leaks into one of the restaurants but its not as much of a problem for them (the business is obviously very different etc.) To properly remedy the problem (we think) we will have to lift out the AC units from the recessed areas under the roof and then replace some roofing. This is very expensive (the quote obtained by the property in October was approximately $30,000). We have investigated and will continue to investigate a less expensive alternative — if possible, but I am not terribly optimistic. To the extent that we cannot find an alternative solution, we can fix the roof if need be at a prohibitively high cost. If required, I would suggest we wait and include the expense as a part of our ongoing EDC renewal for AYH. I expect this to be resolved early in the New Year and would suggest we wait until then (again — only to the extent these funds must be spent). Please let me know. Thanks and I apologize for the inconvenience to Mr. Epstein and his staff. Tom EFTA_R1_00127275 EFTA01793816 Tom Mukamal President Island Global Yachting 717 Fifth Avenue, 18th Floor New York, New York 10022 www.igymarinas.com <http://www.yourmarinawebsiteaddress.com> P Please consider the environment before you print this email. 2 EFTA_R1_00127276 EFTA01793817