BFP--REVOLVING LINE OF CREDIT CLOSING DOCUMENTS -SEPTEMBER 6, 2013 Tab Loan Agreement Pledge And Guaranty 2 © Pledge Agreement.........ccccccsscccssesccscrcoseccsces senenoerscccsonessseseverscesensenes sesseresneeenessneess A ¢ Continuing and Unconditional Guaranty.............:ccsccccesssseeeseeeeeseneeeesesesenseeeeeseereneeees B © UCC Financing Statement.............cccccccesseecceeesseeeeseeseeeeesueeeeeeeeuaeeeeeeaueeeenereneetenseas c © Sotheby’s Valuation............cccccsseseceeeeseeesesreneeseeeeeeseseees D ¢ Certificate of Insurance.................... E e Lien Search and Results of Lien Search ............cc:ceeceeeeeeseseeeeseeceeeeeseeseeeeenaeeeeersenaeres F Black Family Partners, L.P., Lender 3 ¢ Limited Partnership Agreement.............cccccsccccssseceseeeeeeceeeesseeeeeeeeeseseeeeeeueeueeneesrensas A ¢ LLC Operating Agreement of Black Family GP, LLC...............0cccceeseeeeeeeeeeeeeneneeeneennaane B ¢ Resolutions authorizing the credit facility...............csecceeseeeeeeeeeeseeeeeeeessueeeeeneneeeennenens c Phaidon Global, LLC, Borrower 4 ¢ Limited Liability Company Agreement...............:c-0s0eeeceeeeeeseeeeeeeseeeeeeereeeeennuenesenanens A © Certificate of Formation.............cccceeeceeeeeeseseeeeseeeeeesseneeeeeeceueeensueeseesaneasuseseesseasas B e Limited Liability Company Agreement of JMWT Manager LLC.............c..sseeeeeeeeeeeeeereees Cc e Certificate of Formation of JWMT Manager LLC...............sccceseeeeeceeeeeseneneeeeeereeeensanenes D e Resolutions authorizing the credit facility................:.cccseeceeeseeeeeeeeeeeseneeeeeeneeeeeesenennes E Black Family 1997 Trust, Guarantor 5 e «Trust Authority Letter .............cccccserseeeeeeeeeeeeseeeeeeeeseeneeseeaaraneaeesanennensenesenseseneees A ¢ Black Family 1997 Trust Agreement ............c..0ecceeseceeeceeeeseeeeeueesenennerenereseereseensenenss B Repayment of Lloyds Bank 6 e Letter from Lloyds Bank with Terms of Overdraft Facility..............0cccceseeeeeeneeeeecuuereseeees A ¢ Corporate Guarantee by PL and PPL...........-.cccseeeceeeeseeeteneesneeeeeeeneeseaeeeeseseaeeeeeeneesens B ¢ Certificate of the Registration of a Mortgage or Charge...............cseeseeeeeneeeeeeeeeeeeeeeeeseeee c e Discharge of Debenture................0ccccsceceeeseeeeeeeees D © Companies House Satisfaction of a Charge............ccsceeeeeeesseneeeeneeeees . E EFTA00591089

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BFP--REVOLVING LINE OF CREDIT Di ENTS -SEPTEMBER 6, 2013 Substitution of Guarantor-APO2 Declaration May , 2013 7 ¢ Trust Authority Letter to Paul Weiss A © = Trust Authority Letter to PFP.............ccccccceseeeeeesecueceeueeeseeeseeeueereeneseeeeeeeesenesteeees B ¢ Evidence of Continued Insurance Coverage of Art Collateral............0ccccecseceeeeseneeeeeeseenees Cc ¢ Consent, Assignment, Assumption and Omnibus Amendment Agreement.............-.002++00000 D ¢ Waiver and Consent to temporary loan of Art Collateral..............cccsseeseeeeeeeeseeeceeneeeeees E ¢ Lien Search and Results of Lien Search........cccccccccssecseeseecceeeesseeseeeecsesseceeesseceeessessees F EFTA00591090