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DAVENPORT& COMPANY 13 <br /> May .1..6, 2017 <br /> Discussion Points <br /> 1. interest Rate <br /> A summary of the interest rate proposals provided by the seven bidders is shown in Table 1 below. Bidders were <br /> requested to provide interest rates that would be locked in through a closing date of June 15th. If bidders were <br /> unable to provide a fixed rate at the time of the RH', they were asked to indicate the earliest date on which <br /> interest rates could be locked in for a June 15th closing,. <br /> Table 1: Summary of Interest Rates <br /> Vnterest Rate <br /> 5/ 15 Year Option 7/ 20 Year Option <br /> Draw 1 Draw 2 Total Draw 1 Draw 1 Total <br /> Lender 5 Years 15 Years 5/15 Years 7 Years 20 Years 7/20 Years <br /> Capital One 2.39% 2.98% 2.99% 2.55% 3.45% 3.38% <br /> Signature 181% 7.77% 7.11% <br /> Sterling 2.86% 2.83% <br /> uP..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„.,..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„..„. <br /> Morgan1 2.05% 2.65% 2.65% <br /> US Bank 1.84% 2.015% <br /> SunTrust2 <br /> PNC3 180% <br /> Interest rates are subject to a downgrade pricing grid.JP Morgan will require margin rate factor provisions and full protection <br /> against increased costs and changes in capital adequacy requirements. Interest rates will be determined on the closing date. <br /> Documentation will include JP Morgans standard LIBOR fixed rate breakage provisions. <br /> 2 The interest rates will be subject to upward adjustment if the federal corporate tax rate is reduced or if the benefit of interest <br /> income exclusion is capped. If the proposal is not accepted by May 10th,the interest rate will be subject to change based on the <br /> three year swap rate until the financing is awarded. <br /> 3 <br /> Interest rate will be subject to change based on an index after May 1.7th.The change will be the equivalent of 65%of the change in <br /> the 3 year interest rate swap+/-the base interest rate. Interest rate will be finalized three days prior to closing. <br /> • Signature provided the lowest combined interest rate proposals for the 5 / 15 year options that are fixed <br /> through the life of the loan and not subject to change prior to closing: <br /> — 5 Year rate: 1.81% <br /> — 15 Year rate: 2.72% <br /> • Sterling provided the lowest combined interest rate proposal for the 7/ 20 year options that is fixed through <br /> the life of the loan and not subject to change prior to closing: <br /> — Blended 7 / 20 year rate: 2.83% <br /> Member NYSE I FINRA I SIPC Page 2 <br />