HOUSE_OVERSIGHT_018804.txt

This document is an appraisal report for IGY American Yacht Harbor Marina in St. Thomas, Virgin Islands prepared by Integra Realty Resources – Caribbean on behalf of Banco Popular de Puerto Rico. The appraisal evaluates the market value of the leased fee interest (going concern) in the property and is intended to conform with various professional standards including the Uniform Standards of Professional Appraisal Practice (USPAP), the Code of Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute, the Principles of Appraisal Practice and Code of Ethics of the American Society of Appraisers, the RICS Valuation Professional Standards, the International Valuation Standards, applicable jurisdictional appraisal regulations, and the appraisal guidelines of Banco Popular.