Merchantable Timber: Kingwood Forestry performed a 10 basal area factor prism inventory (20 points with two transects running east and west) on JR #114 in July, 2011. Based on the inventory conducted by Kingwood Forestry in July, 2011, estimated tree counts and volumes are as follows:

Pine Sawtimber: 1,763 Trees; 77,000 Board Feet; 924 Tons

Pine Pulpwood: 8,159 Trees; 753 Cords; 2,014 Tons

Hardwood Pulpwood: 928 Trees; 37 Cords; 111 Tons

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JR #191 (Listing #4272): Timber consists of high quality pine sawtimber with average of 428 Board Feet / tree (based on owners inventory). Access is frontage on Highway 7, which crosses the tract. Pine site index averages 90 feet (base age 50) on Amy silt loams.

Merchantable Timber: Based on the inventory conducted by Owner in July, 2011, estimated tree counts and volumes are as follows:

Pine Sawtimber: 610 Trees; 261,198 Board Feet; 1,590 Tons

Pine Pulpwood: 439 Trees; 24 Cords; 61 Tons

Hardwood Pulpwood: 358 Trees; 43 Cords; 128 Tons

Due to variations associated with sampling, utilization standards, and scaling practices, all of the above tree counts and timber volumes advertised in this notice cannot be guaranteed.