County Road 245 (Listing #4426): 112 total acres located approximately five (5) miles north of Sparkman and approximately fifteen (15) miles southeast of Arkadelphia, and further described as Part of NW of SW west of road (32 acres); SW of SW (40 acres), Section 31, Township 8 South, Range 17 West, containing a total of 72 acres, more or less, Dallas County, Arkansas; SE of SE, Section 36, Township 8 South, Range 18 West, containing 40 acres, more or less, Clark County, Arkansas, containing total in aggregate of 112 acres, more or less. Terrain is flat to gently rolling. Access is via Dallas County Road 245, which crosses the eastern section of the tract. Timber consists of a thinned 1994 pine plantation on 34 acres and mature native pine on balance of acreage. Based on Kingwood's 2014 inventory on 107 acres (8 cruise lines running East and West with one point / acre), estimated tree counts and timber volumes are as follows (separate estimates of plantation and native timber are available; below are combined totals):

Pine Sawtimber: 1,846 Trees; 343,700 Bd. Ft.; 2,522 Tons

Pine Pulpwood: 8,285 Trees; 604 Cords; 1,616 Tons

Hardwood Pulpwood: 1,506 Trees; 126 Cords; 377 Tons

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Rock Springs Church (Listing #4427): 84 acres located approximately five (5) miles north of Sparkman and approximately fifteen (15) miles southeast of Arkadelphia, and further described as Frl. E of SW of NW (16.03 acres), SW of SE of NW (10 acres), NE of SW (40 acres), N of NW of SW, less 2 acres to church on south side (18 acres), Section 6, Township 9 South, Range 17 West, containing a total of 84.03 acres, more or less, Dallas County, Arkansas (see attached maps). Access is frontage on Dallas County Road 245 and Dallas County Road 242. Site index 85 feet for pine (age 50). Tract consists of excellent pine sawtimber and native hardwood. Based on 2014 inventory (8 cruise lines running East and West with one point / acre), estimated tree counts and timber volumes are as follows:

Pine Sawtimber: 2,704 Trees; 524,500 Bd. Ft.; 3,930 Tons

Oak Sawtimber: 102 Trees; 15,400 Bd. Ft.; 130 Tons

Gum & Misc. Sawtimber: 27 Trees; 4,000 Bd. Ft.; 29 Tons

Pine Pulpwood: 1,077 Trees; 99 Cords; 265 Tons

Hardwood Pulpwood: 2,855 Trees; 278 Cords; 833 Tons

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Point Cedar (Listing #4424): Located approximately fifteen (15) miles southwest of Hot Springs, and further described as S of NE of NE; S of NE; SE of NW; N of SE; SW of SE, Section 29, Township 4 South, Range 21 West, containing a total of 260 acres, more or less, Hot Spring County, Arkansas. Tract consists of a 2013 pine plantation on 61 acres and mature pine and hardwood on balance of acreage. Terrain is rolling to steep. Access is via gravel road from Rock House Road. Based on Kingwoods 2014 inventory on 166 acres (6 cruise lines running North and South with one point / two acres), estimated tree counts and timber volumes are as follows (166 acres merchantable timber):

Pine Sawtimber: 4,086 Trees; 567,400 Bd. Ft.; 4,708 Tons

Pine Pulpwood: 719 Trees; 60 Cords; 159 Tons

Hardwood Pulpwood: 13,589 Trees; 909 Cords; 2,726 Tons

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Due to variations in cruising methods, utilization standards and scaling practices, volume estimates cannot be guaranteed. Volume tables in tons are included; Board Feet tables are available upon request.