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1 Shawn Steinmuller Real Estate Broker New York Real Estate License: 49ST

2 There are over 232 Google Search Results for Restaurants located within less than 5 miles of the Subject Property. The added bonus of Shops, Store, Attractions, Wineries, Tanger Mall, Water Park, Public and Private Golf Courses, Large Retailers Costco, Super Walmart, Loews, Home Depot and much more.

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4 What the Blue River Offers Water views from over from min 7-8 unit Per Floor Doorman, Assistant / Concierge for 24 hours per day Individual laundry rooms in all apartments Advanced appliances, both kitchen and laundry Advanced energy saving items that will significantly Energy costs, i.e. electric Savings Wheelchair access to all areas of the building Considerations given to various personal needs for occupants of the apartments A hybrid energy system, one of the first of its kind in Long Island, which will result in cleaner energy and significant cost savings for all concerned amenities Costs of occupancy may be comparable to those of ownership of a home Floodgates that will greatly reduce damage from natural disasters Workout Rooms within the building with a full complement of exercise machines Wi-Fi - Such available free of charge to all residents of the building Generators that will prevent any energy disruption due to blackouts Onsite Parking Competing Condo units Don t have the Following: Water views from over from min 70 % of the unit Doorman, Assistant / Concierge for 24 hours per day Advanced energy saving items that will significantly reduce energy costs, i.e. electric bills Wheelchair access to all areas of the building A hybrid energy system, one of the first of its kind on Long Island, which will result in cleaner energy and significant cost savings for all concerned amenities Generators that will prevent any energy disruption due to blackouts Wi-Fi - Such available free of charge to all residents of the building Considerations given to various personal needs for occupants of the apartments

5 The Median Home Sales Values for the area are moving along with Suffolk County. There has been an overall increase in the past 12 months of 3.2% and an increase in the past 60 days of 7.28% (Compared to last year s Data). Riverhead has been gaining great popularity on the North Fork as a Destination. This is evidenced by 3 new hotels and numerous large retailers investing and building over the last 5-10 yrs. This added growth allows us to see home sales moving quicker and sale prices increasing. The Blue River Condo would be a premier building in and around the down town area showcasing added benefits offered in comparison to other condo complexes. I believe it would be appealing to a broad range of buyers based on the 2013 National Association of Realtors Home Buyer and Seller Generational Trends.

6 Comparable Summary Report

7 Blue River would the premier building in the area Simple Stated offering items no other have. - Continued -

8 Although, high end 3 bed 3/2 bath units are not our direct competition, they are great for our purposes. There is a server lack of inventory on the market place for Condo s in general. In addition, most do not offer the amenities Blue River will have. The clients and customers that we are seeing in the market place today are much savvier than in the past. They are also armed with much more data and are overall better prepared to recognize and purchase based on value. Not only are most people in search of more affordable options less than $500,000 but they are expecting more for their money which is why I feel we can sell this product. The Chart on the next page will help us target buyers for this project.

9 Pricing Although I am conservative on my numbers, I am looking to sell the units not just list them for sale. There is no real competition for a 1 bed room unit that would fit the needs of certain buyers in the market place, so we had to use 2 bed comps and adjust down. This is reflected in the price below. In addition to listing and selling homes throughout the North and South Fork, I am also one of the few Accredited Buyer Representative s in the area. Through this unique certification I have gained much insight as to what my clients will do and have done throughout the process. This allows me to see both side of the transaction and position Blue River to sell. The information provided here was acquired using multiple data sources such as our local MLS, Public records, Realtor RPR and the NAR buyer s guide. The pricing suggestions below represent our thoughts on what Blue River would be best marketed for. Pricing Suggestions Below: 1 Bed room Condo units varying on square footage $ 305, ,000 2 Bed room Condo units varying on square footage $ 340, ,000 Now these numbers can change as we suggest an all inclusive package for the sale. Other builders choose to offer everything as an upgrade. Having worked with many buyers over the years I can tell you this can make the deals more complicated for all parties involved. We can however look at specialty items as being upgrades to help increase price or ask buyers to pay cash for additional requests. I see great potential here in the area and many possible options for Blue River Estates. Please see my personal information on the next few pages of this report.

10 Shawn Steinmuller Shawn Michael Realty Experience: 15 Years Real Estate Sales & Marketing Residential Commercial Investments Rentals Property Management Owner / Broker Shawn Michael Realty North Fork, South Fork, Long Island 7 yrs Managing Broker Ocean Tides Realty East Quogue, NY 4 yrs Sales Agent The Real estate Store Hampton Bays, NY 4 yrs Licenses: New York State Real Estate Broker Lic # 49ST Florida Real Estate Broker Lic # BK Certified NYS Real Estate Instructor MLS Memberships & Service Areas: Long Island MLS Covers the Queens, Nassau, Suffolk Hamptons & North Fork Covering the East End of Long Island and the North Folk Mid Florida Region MLS Covering Tampa, Florida Realtor Association & Memberships: National Association of Realtors New York State Association of Realtors Florida Association of Realtors Long Island board of Realtors Greater Tampa Association of Realtors Hamptons and North Fork Realtors Association Current Vice President Treasurer

11 General Board Member since 2008 Realtor Designations: Certified Buyer Representative (CBR ) E-Pro NAR approved Internet Certification Program ABR - Accredited Buyer Representative (ABR ) ITI Instructor Training Institue RFC Residential Financial Consultant TRC - Transnational Referral Certification SFR - Short Sales and Foreclosure Resource (SFR ) certification Broker Price Opinion: Independent BPO work over the last 9 years representing the following companies OCWEN Lighthouse Service link FNF Clear Capital ProTec UTLS Default Services Land America Emortgage Secured lending Services Asset value Appraisal Bank Additional Information: Received the USMC Good Conduct Medal for 3yrs of Honest and Faithful Service. Acknowledged by superiors for outstanding performance of work within our squadron via Meritorious Mast. Received Letters of Appreciation for assisting others and devotion to duty. Earned a Certificate of Commendation for outstanding performance of work, while serving under extremely high tempo fight operations. Received my Honorable Discharge from the United State Marine Corps after 5 years of service