Timber Sale Appraisal Gravy Train Sale NC

Timber Sale Appraisal Gravy Train Sale NC-341-2018-106- District: N Cascade Date: March 01, 2018 Cost Summary Conifer Hardwood Gross Timber Sale Value $2,308,145.73 $0.00 $2,308,145.73 Project Work: ($243,600.00) Advertised Value: $2,064,545.73 4/12/18 1

Timber Sale Appraisal Gravy Train Sale NC-341-2018-106- District: N Cascade Date: March 01, 2018 Timber Description Location: Portions of Sections 31 and 32, T7S, R2E, W.M., Marion County, Oregon. Stand Stocking: 20% Specie Name AvgDBH Amortization (%) Recovery (%) Douglas - Fir 30 0 92 Volume by Grade 2S 3S & 4S 6"- 11" 3S 12"+ Douglas - Fir 2,953 298 126 3,377 2,953 298 126 3,377 4/12/18 2

Comments: Pond Values Used: Local Pond Values, January 2018. Western Hemlock and Other Conifers Stumpage Price = Pond Value minus Logging Cost: $468/MBF = $655/MBF - $187/MBF Western redcedar and Other Cedars Stumpage Price = Pond Value minus Logging Cost & Additional Haul Cost: $1,265/MBF = $1,500/MBF - $235/MBF Red Alder and Other Hardwoods Stumpage Price = Pond Value minus Logging Cost: $463/MBF = $650/MBF - $187/MBF SCALING COST ALLOWANCE = $5.00/MBF BRANDING AND PAINTING COST ALLOWANCE = $2.00/MBF FUEL COST ALLOWANCE = $3.00/Gallon HAULING COST ALLOWANCE Hauling costs equivalent to $900 daily truck cost. Other Costs (with Profit & Risk to be added): Season 1 Equipment Move-In: Accounted for in Logging Cost Season 1 Equipment Weed Wash: (($120.00/hr loaded transport) + ($22.00/hr X 2 pilots per piece of equipment)) X 2.5 hour wash time = $410.00 X 3 pieces of equipment = $1,230 Season 2 Equipment Move-In: (($120.00/hr loaded transport) + ($22.00/hr x 2 pilots per piece of equipment)) X 4 hour Move-In Cycle = $656.00 X 3 pieces of equipment = $1,968 Season 2 Equipment Weed Wash: (($120.00/hr loaded transport) + ($22.00/hr X 2 pilots per piece of equipment)) X 2.5 hour wash time = $410.00 X 3 pieces of equipment = $1,230 TOTAL Other Costs (with Profit & Risk to be added) = $4,428 Other Costs (No Profit & Risk added): None. SLASH DISPOSAL COSTS In-Unit Piling: $250/acre x 155 acres = $38,750 Move-In: (($120/hr loaded transport) + ($22/hr x 2 pilots)) X 4 hour Move-In Cycle = $656 X 1 Excavator = $656 Equipment Weed Wash: (($120/hr loaded transport) + ($22/hr X 1 pilot/wash personnel)) X 2.5 hour wash time = $355 X 1 Excavator = $355 Covering Piles: ($12/pile x 465 piles) + ($22/hr x 4 covering personnel x 72 hours) = $11,916 TOTAL Slash Disposal Costs = $51,677 ROAD MAINTENANCE COSTS Move-In: $120/hr loaded transport X 4 hour Move-In Cycle = $480 X 1 Grader = $480 General Road Maintenance: 2.04 miles X $1,100/mile = $2,244 TOTAL Road Maintenance Costs = $2,724/3,377 MBF = $0.80/MBF 4/12/18 3

Timber Sale Appraisal Gravy Train Sale NC-341-2018-106- District: N Cascade Date: March 01, 2018 Logging Conditions Combination#: 1 Douglas - Fir 100.00% Logging System: Shovel Process: Feller Buncher yarding distance: Short (400 ft) downhill yarding: No tree size: Mature / Regen Cut (900 Bft/tree), 3-5 logs/mbf loads / day: 8 bd. ft / load: 5000 cost / mbf: $88.45 machines: Feller Buncher w/ Delimber 4/12/18 4

Timber Sale Appraisal Gravy Train Sale NC-341-2018-106- District: N Cascade Date: March 01, 2018 Logging Costs Operating Seasons: 2.00 Profit Risk: 10% Project Costs: $243,600.00 Other Costs (P/R): $4,428.00 Slash Disposal: $51,677.00 Other Costs: $0.00 Miles of Road Road Maintenance: $0.80 Dirt Rock (Contractor) Rock (State) Paved 0.0 0.0 0.0 0.0 Hauling Costs Species $ / MBF Trips/Day MBF / Load Douglas - Fir $0.00 3.0 5.0 4/12/18 5

Timber Sale Appraisal Gravy Train Sale NC-341-2018-106- Logging Douglas - Fir District: N Cascade Date: March 01, 2018 Road Maint Fire Protect Hauling Logging Costs Breakdown Other P/R appl Profit & Risk Slash Disposal Scaling / Brand & Paint Other $88.45 $0.86 $2.60 $56.16 $1.31 $14.94 $15.30 $7.00 $0.00 $186.62 Specie Amortization Pond Value Stumpage Amortized Douglas - Fir $0.00 $870.11 $683.49 $0.00 4/12/18 6

Timber Sale Appraisal Gravy Train Sale NC-341-2018-106- District: N Cascade Date: March 01, 2018 Summary Amortized Specie MBF Value Douglas - Fir 0 $0.00 $0.00 Unamortized Specie MBF Value Douglas - Fir 3,377 $683.49 $2,308,145.73 Gross Timber Sale Value Recovery: $2,308,145.73 Prepared By: Spencer Mitchell Phone: 503-509-4576 4/12/18 7

Pulp Appraisal Sale Name Gravy Train Species Conifer Stems Per/ac. 23 Acres 149 Stems 3427 BF/Stem, Conversion 10 MBF Per/Species 34 Pond Value Per/MBF $334 Logging + Hauling Costs $185.67 Additional Loading Costs $40.00 Stumpage $108.33 Tons Per/MBF, Conversion 10 Price Per/Ton $10.83 Tons Per/Species 343 Value $3,712.47 Price Price/Ton Price/MBF $3,712.47 $10.83 $108.33 Less P/R 75% $928.12 $2.71 $27.08 Contract Price ($/MBF) $27.08

SUMMARY OF ROAD COSTS GRAVY TRAIN ROAD IMPROVEMENT: Segments A to A1 B to B1 C to C1 D to D1 E to E1 F to F1 G to G1 J to J1 stations miles Project No. 1 Rocking Length Rip Rap 4"-0 Crushed Roads 1.5"-0 Culverts 1.5"-0 Construct $ 111+44 21 cy 40 cy 2,503 cy 96 cy $ 58,527.20 11+00 40 cy 233 cy $ 5,190.52 33+36 6 cy 40 cy 785 cy 48 cy $ 20,084.77 102+06 9 cy 40 cy 2,249 cy 72 cy $ 50,431.96 9+90 3 cy 218 cy 24 cy $ 6,592.43 17+49 40 cy 376 cy $ 7,728.74 1+65 48 cy $ 1,656.26 108+21 216 cy $ 7,172.58 395+11 39 cy 200 cy 6,628 cy 240 cy $ 157,384.46 7.48 Move-in $ 6,460.00 STOCKPILE ROCK: Project No. 2 Project No. 1 $ 163,844.46 Bridge Creek Pit Stockpile at pit EXPLORATORY DRILLING: Size of Rock Cubic Yards Stockpile Cost to crush only 1.5"-0 Crushed 5,132 cy $ 1.28 $ 12.93 $72,949.24 Project No. 2 $72,949.24 Project No. 3 Move in Project Work Logging for Access Drill Excavator/Dozer 8 hours @ $240/hr 16 hours @ $160/hr $ 1,200.00 $ 1,040.00 $ 1,920.00 $ 2,560.00 $ 6,720.00 Project No. 3 $ 6,720.00 ROCK TOTALS: Rock sizes Location Rip Rap 8" to 24" 4"-0 Crushed Bridge Creek Pit 39 cy Bridge Creek (put in stockpile) Cedar Creek Stockpile No Crushing 200 cy to Crush 39 cy 1.5"-0 Culverts & Roads 6,868 cy 5,132 cy 12,000 cy TOTAL CONTRACT CREDIT AMOUNT $ 243,600.00 Grand $ 243,513.70 20% = $ 48,720.00 James Stuart 04/12/2018

PROJECT NO. 1 ROAD IMPROVEMENT COSTS Sale: Gravy Train Road Segment: A to A1 ROAD IMPROVEMENT: Station Designed Cubic Yards/Station Cost per Quantity Riprap 1.5"-0 4"-0 Soil Station or Acre Sum $ Reconstruct 111+44 22 cy $ 20.00 $ 2,228.80 Repair Culvert Ends 2 $ 45.00 $ 90.00 Landing Construction 1 40 cy $ 120.00 $ 120.00 Drivable Waterbar 1 12 cy $ 120.00 $ 120.00 Turnout 2 24 cy $ 30.00 $ 60.00 End haul road ditch 111+44 300 cy $ 4.55 $ 1,364.19 Culvert Bedding 4 3 cy 24 cy Added Dissipator 3 3 cy SUB-TOTAL $ 3,982.99 CULVERTS: Description Type Size Length Cost Bevel Bands Cost Sub Install $ Sum $ 3-18" x 30' cpp 18" 90 $ 1,620.00 $ 1,620.00 $ 2,250.00 $ 3,870.00 1-24" x 40' cpp 24" 40 $ 1,120.00 1 $ 28.00 $ 1,148.00 $ 1,000.00 $ 2,148.00 cpp = corrigated plastic pipe cmp = corrigated metal pipe Quantity Cost Sub Install $ Sum $ Seed/mulch (average 2-bales per site/pipe) 4 $ 15.00 $ 60.00 $ 60.00 $ 120.00 Install 6' long steel "T" posts on culverts 6 $ 8.50 $ 51.00 $ 60.00 $ 411.00 Remove old culverts off State property 1 $ 150.00 $ 150.00 $ 150.00 $ 300.00 SUB-TOTAL $ 6,849.00 SURFACING: Water Two-way Culvert Turn Dissipator Haul & Crush Roads Landing Roads Bars Junctions Bedding outs (cy/pipe) Combined $ Cost 1.5"-0 2,443 cy 12 cy 96 cy 48 cy 2,599 cy $ 18.14 $ 47,148.78 4"-0 40 cy 40 cy $ 4.13 $ 165.09 Riprap (8"- 24") 21 cy 21 cy $ 18.16 $ 381.33 SUB-TOTAL $ 47,695.20 GRAND TOTAL = $ 58,527.20 James Stuart 04/12/2018

PROJECT NO. 1 ROAD IMPROVEMENT COSTS Sale: Gravy Train Road Segment: B to B1 ROAD IMPROVEMENT: Station Designed Cubic Yards/Station Cost per Quantity Riprap 1.5"-0 4"-0 Soil Station or Acre Sum $ Reconstruct 11+00 22 cy $ 20.00 $ 220.00 Repair Culvert Ends Landing Construction 1 40 cy $ 120.00 $ 120.00 Drivable Waterbar Turnaround End haul ditch & landing 11+00 100 cy $ 4.55 $ 454.73 Culvert Bedding Two-way junction SUB-TOTAL $ 794.73 CULVERTS: Description Type Size Length Cost Bevel Bands Cost Sub Install $ Sum $ cpp = corrigated plastic pipe cmp = corrigated metal pipe Quantity Cost Sub Install $ Sum $ Seed/mulch (average 2-bales per site/pipe) $ 15.00 Install 6' long steel "T" posts on culverts $ 8.50 Remove old culverts off State property $ 150.00 SUB-TOTAL SURFACING: Water Two-way Culvert Turn Dissipator Haul & Crush Roads Landing Roads Bars Junctions Bedding outs (cy/pipe) Combined $ Cost 1.5"-0 233 cy 233 cy $ 18.14 $ 4,230.71 4"-0 40 cy 40 cy $ 4.13 $ 165.09 Riprap (8"- 24") $ 18.16 SUB-TOTAL $ 4,395.79 GRAND TOTAL = $ 5,190.52 James Stuart 04/12/2018

PROJECT NO. 1 ROAD IMPROVEMENT COSTS Sale: Gravy Train Road Segment: C to C1 ROAD IMPROVEMENT: Station Designed Cubic Yards/Station Cost per Quantity Riprap 1.5"-0 4"-0 Soil Station or Acre Sum $ Reconstruct 33+36 22 cy $ 20.00 $ 667.20 Repair Culvert Ends Landing Construction 1 40 cy $ 120.00 $ 120.00 Drivable Waterbar Turnouts 2 24 cy $ 30.00 $ 60.00 End haul ditch 11+00 150 cy $ 4.55 $ 682.10 Culvert Bedding 2 3 cy 24 cy Two-way junction 1 12 cy SUB-TOTAL $ 1,529.30 CULVERTS: Description Type Size Length Cost Bevel Bands Cost Sub Install $ Sum $ 1-18" x 30' cpp 18" 30 $ 540.00 $ 540.00 $ 750.00 $ 1,290.00 1-24" x 30' cpp 24" 30 $ 840.00 $ 840.00 $ 750.00 $ 1,590.00 cpp = corrigated plastic pipe cmp = corrigated metal pipe Quantity Cost Sub Install $ Sum $ Seed/mulch (average 2-bales per site/pipe) 2 $ 15.00 $ 30.00 $ 50.00 $ 80.00 Install 6' long steel "T" posts on culverts 2 $ 8.50 $ 17.00 $ 20.00 $ 57.00 Remove old culverts off State property 1 $ 150.00 $ 150.00 $ 150.00 SUB-TOTAL $ 3,167.00 SURFACING: Water Two-way Culvert Turn Dissipator Haul & Crush Roads Landing Roads Bars Junctions Bedding outs (cy/pipe) Combined $ Cost 1.5"-0 725 cy 12 cy 48 cy 48 cy 833 cy $ 18.14 $ 15,114.43 4"-0 40 cy 40 cy $ 4.13 $ 165.09 Riprap (8"- 24") 6 cy 6 cy $ 18.16 $ 108.95 SUB-TOTAL $ 15,388.47 GRAND TOTAL = $ 20,084.77 James Stuart 04/12/2018

PROJECT NO. 1 ROAD IMPROVEMENT COSTS Sale: Gravy Train Road Segment: D to D1 ROAD IMPROVEMENT: Station Designed Cubic Yards/Station Cost per Quantity Riprap 1.5"-0 4"-0 Soil Station or Acre Sum $ Reconstruct 102+06 22 cy $ 20.00 $ 2,041.20 Repair Culvert Ends Landing Construction 1 40 cy $ 120.00 $ 120.00 Drivable Waterbar Turnouts 1 12 cy End haul ditch 102+06 200 cy $ 4.55 $ 909.46 Culvert Bedding 3 3 cy 24 cy Two-way junction SUB-TOTAL $ 3,070.66 CULVERTS: Description Type Size Length Cost Bevel Bands Cost Sub Install $ Sum $ 2-18" x 30' cpp 18" 60 $ 1,080.00 $ 1,080.00 $ 1,500.00 $ 2,580.00 1-24" x 30' cpp 24" 30 $ 840.00 $ 840.00 $ 750.00 $ 1,590.00 cpp = corrigated plastic pipe cmp = corrigated metal pipe Quantity Cost Sub Install $ Sum $ Seed/mulch (average 2-bales per site/pipe) 3 $ 15.00 $ 45.00 $ 75.00 $ 120.00 Install 6' long steel "T" posts on culverts 4 $ 8.50 $ 34.00 $ 40.00 $ 194.00 Remove old culverts off State property 3 $ 150.00 $ 450.00 $ 450.00 SUB-TOTAL $ 4,934.00 SURFACING: Water Two-way Culvert Turn Dissipator Haul & Crush Roads Landing Roads Bars Junctions Bedding outs (cy/pipe) Combined $ Cost 1.5"-0 2,237 cy 72 cy 12 cy 2,321 cy $ 18.14 $ 42,098.79 4"-0 40 cy 40 cy $ 4.13 $ 165.09 Riprap (8"- 24") 9 cy 9 cy $ 18.16 $ 163.43 SUB-TOTAL $ 42,427.30 GRAND TOTAL = $ 50,431.96 James Stuart 04/12/2018

PROJECT NO. 1 ROAD IMPROVEMENT COSTS Sale: Gravy Train Road Segment: E to E1 ROAD IMPROVEMENT: Station Designed Cubic Yards/Station Cost per Quantity Riprap 1.5"-0 4"-0 Soil Station or Acre Sum $ Reconstruct 9+90 22 cy $ 20.00 $ 198.00 Repair Culvert Ends Landing Construction Drivable Waterbar Turnaround End haul ditch 9+90 100 cy $ 4.55 $ 454.73 Culvert Bedding 1 3 cy 24 cy Two-way junction SUB-TOTAL $ 652.73 CULVERTS: Description Type Size Length Cost Bevel Bands Cost Sub Install $ Sum $ 1-18" x 30' cpp 18" 30 $ 540.00 $ 540.00 $ 750.00 $ 1,290.00 cpp = corrigated plastic pipe cmp = corrigated metal pipe Quantity Cost Sub Install $ Sum $ Seed/mulch (average 2-bales per site/pipe) 1 $ 15.00 $ 15.00 $ 25.00 $ 40.00 Install 6' long steel "T" posts on culverts 1 $ 8.50 $ 8.50 $ 10.00 $ 18.50 Remove old culverts off State property 1 $ 150.00 $ 150.00 $ 150.00 SUB-TOTAL $ 1,498.50 SURFACING: Water Two-way Culvert Turn Dissipator Haul & Crush Roads Landing Roads Bars Junctions Bedding outs (cy/pipe) Combined $ Cost 1.5"-0 218 cy 24 cy 242 cy $ 18.14 $ 4,386.73 4"-0 $ 4.13 Riprap (8"- 24") 3 cy 3 cy $ 18.16 $ 54.48 SUB-TOTAL $ 4,441.20 GRAND TOTAL = $ 6,592.43 James Stuart 04/12/2018

PROJECT NO. 1 ROAD IMPROVEMENT COSTS Sale: Gravy Train Road Segment: F to F1 ROAD IMPROVEMENT: Station Designed Cubic Yards/Station Cost per Quantity Riprap 1.5"-0 4"-0 Soil Station or Acre Sum $ Reconstruct 17+49 22 cy $ 20.00 $ 349.80 Repair Culvert Ends Landing Construction 1 40 cy $ 120.00 $ 120.00 Drivable Waterbar Turnaround End haul ditch 17+49 60 cy $ 4.55 $ 272.84 Culvert Bedding Two-way junction SUB-TOTAL $ 742.64 CULVERTS: Description Type Size Length Cost Bevel Bands Cost Sub Install $ Sum $ cpp = corrigated plastic pipe cmp = corrigated metal pipe Quantity Cost Sub Install $ Sum $ Seed/mulch (average 2-bales per site/pipe) $ 15.00 Install 6' long steel "T" posts on culverts $ 8.50 Remove old culverts off State property $ 150.00 SUB-TOTAL SURFACING: Water Two-way Culvert Turn Dissipator Haul & Crush Roads Landing Roads Bars Junctions Bedding outs (cy/pipe) Combined $ Cost 1.5"-0 376 cy 376 cy $ 18.14 $ 6,821.01 4"-0 40 cy 40 cy $ 4.13 $ 165.09 Riprap (8"- 24") $ 18.16 SUB-TOTAL $ 6,986.10 GRAND TOTAL = $ 7,728.74 James Stuart 04/12/2018

PROJECT NO. 1 ROAD IMPROVEMENT COSTS Sale: Gravy Train Road Segment: G to G1 ROAD IMPROVEMENT: Station Designed Cubic Yards/Station Cost per Quantity Riprap 1.5"-0 4"-0 Soil Station or Acre Sum $ Reconstruct 1+65 22 cy $ 400.00 $ 660.00 Repair Culvert Ends Landing Construction Drivable Waterbar 1 12 cy $ 120.00 $ 120.00 Turnaround End haul ditch Culvert Bedding Two-way junction SUB-TOTAL $ 780.00 CULVERTS: Description Type Size Length Cost Bevel Bands Cost Sub Install $ Sum $ cpp = corrigated plastic pipe cmp = corrigated metal pipe Quantity Cost Sub Install $ Sum $ Seed/mulch (average 2-bales per site/pipe) $ 15.00 Install 6' long steel "T" posts on culverts $ 8.50 Remove old culverts off State property $ 150.00 SUB-TOTAL SURFACING: Water Two-way Culvert Turn Dissipator Haul & Crush Roads Landing Roads Bars Junctions Bedding outs (cy/pipe) Combined $ Cost 1.5"-0 36 cy 12 cy 48 cy $ 18.14 $ 876.26 4"-0 $ 4.13 Riprap (8"- 24") $ 18.16 SUB-TOTAL $ 876.26 GRAND TOTAL = $ 1,656.26 James Stuart 04/12/2018

PROJECT NO. 1 ROAD IMPROVEMENT COSTS Sale: Gravy Train Road Segment: J to J1 ROAD IMPROVEMENT: (Only place spot rock to fix pot holes on the worst sections of road. O will allow 216 cy of 1.5"-0. Station Designed Cubic Yards/Station Cost per Quanity Riprap 1.5"-0 4"-0 Soil Station or Acre Sum $ Grade and roll 108+21 2 cy $ 30.00 $ 3,246.30 Repair culvert inlets Landing Construction Drivable water bar Turnaround End haul ditch Culvert Bedding Two-way junction SUB-TOTAL $ 3,246.30 CULVERTS: Description Type Size Length Cost Bevel Bands Cost Sub Install $ Sum $ cpp = corrigated plastic pipe cmp = corrigated metal pipe Quantity Cost Sub Install $ Sum $ Seed/mulch (average 2-bales per site/pipe) $ 15.00 Install 6' long steel "T" posts on culverts $ 8.50 Remove old culverts off State property $ 150.00 SUB-TOTAL SURFACING: Water Two-way Culvert Turn Dissipator Haul & Crush Roads Landing Roads Bars Junctions Bedding outs (cy/pipe) Combined $ Cost 1.5"-0 216 cy 216 cy $ 18.14 $ 3,926.28 4"-0 $ 4.13 Riprap (8"- 24") $ 18.16 SUB-TOTAL $ 3,926.28 GRAND TOTAL = $ 7,172.58 James Stuart 04/12/2018

Sale Name:Gravy Train Pit Name: Bridge Creek Pit 1.5"-0 Crushed $/cu.yd.==> $ 12.93 Swell: 1.30 Shrinkage/Compact: 1.16 Drill Pct.: 100% Truck measure 12,000 cy Oversize Pct.: 25% Log, Stump, Scalp & Clear Overburden: $300.00 /hr x 40 hrs = $ 12,000.00 Drill & Shoot: $ 4.00 /cy x 12,000 cy = $ 48,000.00 Sort and split oversize rock: $ 4.25 /cy x 3,000 cy = $ 12,750.00 Load Crusher: $ 1.25 /cy x 12,000 cy = $ 15,000.00 Crushing $ 2.50 /cy x 12,000 cy = $ 30,000.00 Screening Rock $ 2.30 /cy x 12,000 cy = $ 27,600.00 Clean Up Pit $ 270.00 /hr x 2 hrs = $ 540.00 MOVE IN COSTS # of Equip Subtotal $ 145,890.00 3-stage crusher 1 $ 3,450.00 $ 3,450.00 Move in and set up Drill and Compressor 1 $ 1,200.00 $ 1,200.00 Move in D-8 1 $ 1,040.00 $ 1,040.00 Move in Loaders 2 $ 1,040.00 $ 2,080.00 Move in Excavator 1 $ 1,040.00 $ 1,040.00 Move in Trucks 1 $ 95.00 $ 95.00 Gradation Tests $ 70.00 per 12,000 cy = $ 420.00 Subtotal $ 9,325.00 Riprap & Pit-run $/cu.yd.==> $ 2.38 ESTIMATED TOTAL COST $ 155,215.00 Truck measure 39 cy Rip and Develop $ 2.00 /cy x 39 cy = $78.00 Sort Oversize: $ 3.75 /cy x 4 cy = $14.63 Subtotal $92.63 ESTIMATED TOTAL COST $92.63 GRAND TOTAL FOR CRUSHING $155,307.63 James Stuart 04/12/2018

(Sale Name) Rates Bridge Creek Pit (Quarry) Bridge Creek (Stockpile) Spread Dump Truck Rate ($/Hr.) Capacity (cy) Operator ($/Hr.) Crushed (Rock Type) D10 (Truck) 12-G (Grader) Vibratory Roller (Compactor) B20 $ 70.00 20 $ 35.00 $ 105.00 1.5"-0 (Rock Size) 14G (Loader) D8 (Tractor) D10 $ 50.00 12 $ 35.00 $ 85.00 OH25 $ 80.00 25 $ 35.00 $ 115.00 Hauling Time Computation Grader Rate ($/Hr.) Operator ($/Hr.) 50 MPH Miles per round trip 0 Minutes 12-G $ 55.00 $ 50.00 $ 105.00 40 MPH Miles per round trip 0 Minutes 14-G $ 60.00 $ 50.00 $ 110.00 35 MPH Miles per round trip 0 Minutes Compaction Equipment Rate ($/Hr.) Operator ($/Hr.) 30 MPH Miles per round trip 0 Minutes Vibratory Roller $ 50.00 $ 50.00 $ 100.00 25 MPH 4.8 Miles per round trip 12 Minutes Vib. Grid Roller $ 50.00 $ 50.00 $ 100.00 20 MPH Miles per round trip 0 Minutes Hand Held Compactor $ 20.00 $ 50.00 $ 70.00 15 MPH 0.3 Miles per round trip 1 Minutes Tractors Rate ($/Hr.) Operator ($/Hr.) 10 MPH 0 Miles per round trip 0 Minutes D4 $ 35.00 $ 50.00 $ 85.00 5 MPH 0.1 Miles per round trip 1 Minutes D6 $ 60.00 $ 50.00 $ 110.00 5.2 Miles per Round Trip D7 $ 70.00 $ 50.00 $ 120.00 Dump or Spread Time per Round Trip 0 Minutes D8 $ 110.00 $ 50.00 $ 160.00 Hauling Cycle Time for this Setting (100% Efficiency) 14 Minutes Operator Efficiency Correction (80% Efficiency) 18 Minutes Loader Rate ($/Hr.) Capacity (cy) Operator ($/Hr.) 14G Cat Wheel Loader $ 60.00 3 $ 50.00 $ 110.00 Time Per Cubic Yard Gravy Train Rate (Min/Load) Delay (Min) Loading Time (Min) Hauling Only (per cubic yard) 1.48 min/cu.yd Loading Costs Delay Time (while loading = loading time per cubic yard) 0.52 min/cu.yd Crushed Rock 5 1.25 6.25 Time Per Cubic Yard 2.00 min/cu.yd Pit-Run/Jaw-Run Rock 5 1.25 6.25 Rip Rap Rock 5 1.25 6.25 Hauling Cost Per Cubic Yard Computation Fill Material 5 1.25 6.25 Cost of Truck Per Hour $ 50.00 per Hr. Cost of Truck Operator Pre Hour $ 35.00 per Hr. Dump or Spread Time (Min) Operating Cost Per Hour $ 85.00 per Hr. Pile Dump 0.25 Operating Cost Per Minute $ 1.42 per Min. Truck Spread 0.5 Cost Per Cubic Yard $ 2.83 per Cu. Yd. Spreading w/grader 5 Loading Cost Per Cubic Yard $ 0.95 per Cu. Yd. Spreading Cost Per Cubic Yard Cost of Grader Per Hour $ 55.00 per Hr. Cost of Grader Operator Per Hour $ 50.00 per Hr. Cost of Compaction Equip. Per Hour $ 50.00 per Hr. Cost of Compaction Equip. Op. Per Hour $ 50.00 per Hr. Operating Cost Per Hour $ 205.00 per Hr. Cost Per Cubic Yard to Grade and Roll $ 1.42 Cu. Yd. Cost to Load, Haul and Place $ 5.21 Cu. Yd. Cost to Crush $ 12.93 Grand Combined $ 18.14 James Stuart 04/12/2018

(Sale Name) Rates (Quarry) Cedar Creek (Stockpile) Spread Dump Truck Rate ($/Hr.) Capacity (cy) Operator ($/Hr.) crushed (Rock Type) D10 (Truck) 12-G (Grader) Vibratory Roller (Compactor) B20 $ 70.00 20 $ 35.00 $ 105.00 4" (Rock Size) 14G (Loader) D8 (Tractor) D10 $ 50.00 12 $ 35.00 $ 85.00 OH25 $ 80.00 25 $ 35.00 $ 115.00 Hauling Time Computation Grader Rate ($/Hr.) Operator ($/Hr.) 50 MPH Miles per round trip 0 Minutes 12-G $ 55.00 $ 50.00 $ 105.00 40 MPH Miles per round trip 0 Minutes 14-G $ 60.00 $ 50.00 $ 110.00 35 MPH Miles per round trip 0 Minutes Compaction Equipment Rate ($/Hr.) Operator ($/Hr.) 30 MPH Miles per round trip 0 Minutes Vibratory Roller $ 50.00 $ 50.00 $ 100.00 25 MPH 2.5 Miles per round trip 6 Minutes Vib. Grid Roller $ 50.00 $ 50.00 $ 100.00 20 MPH 0 Miles per round trip 0 Minutes Hand Held Compactor $ 20.00 $ 50.00 $ 70.00 15 MPH 0 Miles per round trip 0 Minutes Tractors Rate ($/Hr.) Operator ($/Hr.) 10 MPH 0.1 Miles per round trip 1 Minutes D4 $ 35.00 $ 50.00 $ 85.00 5 MPH 0 Miles per round trip 0 Minutes D6 $ 60.00 $ 50.00 $ 110.00 2.6 Miles per Round Trip D7 $ 70.00 $ 50.00 $ 120.00 Dump or Spread Time per Round Trip 0 Minutes D8 $ 110.00 $ 50.00 $ 160.00 Hauling Cycle Time for this Setting (100% Efficiency) 7 Minutes Operator Efficiency Correction (80% Efficiency) 9 Minutes Loader Rate ($/Hr.) Capacity (cy) Operator ($/Hr.) 14G Cat Wheel Loader $ 60.00 3 $ 50.00 $ 110.00 Time Per Cubic Yard Gravy Train Rate (Min/Load) Delay (Min) Loading Time (Min) Hauling Only (per cubic yard) 0.71 min/cu.yd Loading Costs Delay Time (while loading = loading time per cubic yard) 0.52 min/cu.yd Crushed Rock 5 1.25 6.25 Time Per Cubic Yard 1.23 min/cu.yd Pit-Run/Jaw-Run Rock 5 1.25 6.25 Rip Rap Rock 5 1.25 6.25 Hauling Cost Per Cubic Yard Computation Fill Material 5 1.25 6.25 Cost of Truck Per Hour $ 50.00 per Hr. Cost of Truck Operator Pre Hour $ 35.00 per Hr. Dump or Spread Time (Min) Operating Cost Per Hour $ 85.00 per Hr. Pile Dump 0.25 Operating Cost Per Minute $ 1.42 per Min. Truck Spread 0.5 Cost Per Cubic Yard $ 1.75 per Cu. Yd. Spreading w/grader 5 Loading Cost Per Cubic Yard $ 0.95 per Cu. Yd. Spreading Cost Per Cubic Yard Cost of Grader Per Hour $ 55.00 per Hr. Cost of Grader Operator Per Hour $ 50.00 per Hr. Cost of Compaction Equip. Per Hour $ 50.00 per Hr. Cost of Compaction Equip. Op. Per Hour $ 50.00 per Hr. Operating Cost Per Hour $ 205.00 per Hr. Cost Per Cubic Yard to Grade and Roll $ 1.42 Cu. Yd. Cost to Load, Haul and Place $ 4.13 Cu. Yd. Rock is in a stockpile Grand Combined $ 4.13 James Stuart 04/12/2018

Gravy Train (Sale Name) Rates Bridge Creek Pit Capacity Operator Dump Truck Rate ($/Hr.) (Quarry) (Stockpile) Spread (cy) ($/Hr.) Rip Rap (Rock Type) D10 (Truck) 12-G (Grader) Vibratory Roller (Compactor) B20 $ 70.00 20 $ 35.00 $ 105.00 8"+ 24" (Rock Size) 14G (Loader) Cat 325 Excavator (Excavator) D10 $ 50.00 12 $ 35.00 $ 85.00 OH25 $ 80.00 25 $ 35.00 $ 115.00 Operator Grader Rate ($/Hr.) Hauling Time Computation ($/Hr.) 50 MPH Miles per round trip 0 Minutes 12-G $ 55.00 $ 50.00 $ 105.00 40 MPH Miles per round trip 0 Minutes 14-G $ 60.00 $ 50.00 $ 110.00 Compaction Operator Rate ($/Hr.) Equipment ($/Hr.) 35 MPH Miles per round trip 0 Minutes 30 MPH Miles per round trip 0 Minutes Vibratory Roller $ 50.00 $ 50.00 $ 100.00 25 MPH 4.8 Miles per round trip 12 Minutes Vib. Grid Roller $ 50.00 $ 50.00 $ 100.00 20 MPH 0 Miles per round trip 0 Minutes Hand Held Compactor $ 20.00 $ 50.00 $ 70.00 Operator Tractors Rate ($/Hr.) 15 MPH 0.3 Miles per round trip 1 Minutes ($/Hr.) 10 MPH 0 Miles per round trip 0 Minutes D4 $ 35.00 $ 50.00 $ 85.00 5 MPH 0.1 Miles per round trip 1 Minutes D6 $ 60.00 $ 50.00 $ 110.00 5.2 Miles per Round Trip D7 $ 70.00 $ 50.00 $ 120.00 Dump or Spread Time per Round Trip 0 Minutes D8 $ 110.00 $ 50.00 $ 160.00 Hauling Cycle Time for this Setting (100% Efficiency) 14 Minutes Capacity Operator Loader Rate ($/Hr.) Operator Efficiency Correction (80% Efficiency) 18 Minutes (cy) ($/Hr.) 14G Cat Wheel Loader $ 60.00 3 $ 50.00 $ 110.00 Time Per Cubic Yard Cat 325 Excavator $ 130.00 1.5 $ 50.00 $ 180.00 Rate (Min/Load) Delay (Min) Loading Time (Min) Hauling Only (per cubic yard) 1.48 min/cu.yd Loading Costs Delay Time (while loading = loading time per cubic yard) 0.52 min/cu.yd Crushed Rock 5 1.25 6.25 Time Per Cubic Yard 2.00 min/cu.yd Pit-Run/Jaw-Run Rock 5 1.25 6.25 Rip Rap Rock 5 1.25 6.25 Hauling Cost Per Cubic Yard Computation Fill Material 5 1.25 6.25 Cost of Truck Per Hour $ 50.00 per Hr. Cost of Truck Operator Pre Hour $ 35.00 per Hr. Dump or Spread Time (Min) Operating Cost Per Hour $ 85.00 per Hr. Pile Dump 0.25 Operating Cost Per Minute $ 1.42 per Min. Truck Spread 0.5 Cost Per Cubic Yard $ 2.83 per Cu. Yd. Spreading w/grader 5 Loading Cost Per Cubic Yard $ 0.95 per Cu. Yd. Placing with Excavator 6 Spreading Cost Per Cubic Yard Cost of Excavator Per Hour $ 130.00 per Hr. Cost of Excavator Operator Per Hour $ 50.00 per Hr. Cost of Compaction Equip. Per Hour per Hr. Cost of Compaction Equip. Op. Per Hour per Hr. Operating Cost Per Hour $ 180.00 per Hr. Cost Per Cubic Yard to Place and Compact $ 12.00 Cu. Yd. Cost to Load, Haul and Place $ 15.78 Cu. Yd. Cost to Crush $ 2.38 Grand Combined $ 18.16 James Stuart 04/12/2018

Gravy Train (Sale Name) Yards End Hauled: cy Rates On site EndHual To nearest waste area Spread and Compact Dump Truck Rate ($/Hr.) Capacity (cy) Operator ($/Hr.) Waste (Type) D10 (Truck) D6 (Grader) Vibratory Roller (Compactor) B20 $ 70.00 20 $ 35.00 $ 105.00 (Rock Size) (Loader) Cat 325 Excavator (Excavator) D10 $ 50.00 12 $ 35.00 $ 85.00 (Water Truck Size) Gal/cu.yd OH25 $ 80.00 25 $ 35.00 $ 115.00 Hauling Time Computation Grader Rate ($/Hr.) Operator ($/Hr.) 50 MPH Miles per round trip 0 Minutes 12-G $ 55.00 $ 50.00 $ 105.00 40 MPH Miles per round trip 0 Minutes 14-G $ 60.00 $ 50.00 $ 110.00 35 MPH Miles per round trip 0 Minutes Compaction Equipment Rate ($/Hr.) Operator ($/Hr.) 30 MPH Miles per round trip 0 Minutes Vibratory Roller $ 50.00 $ 50.00 $ 100.00 25 MPH Miles per round trip 0 Minutes Vib. Grid Roller $ 50.00 $ 50.00 $ 100.00 20 MPH 0.4 Miles per round trip 1 Minutes Hand Held Compactor $ 20.00 $ 50.00 $ 70.00 15 MPH 0 Miles per round trip 0 Minutes Tractors Rate ($/Hr.) Operator ($/Hr.) 10 MPH 0.1 Miles per round trip 1 Minutes D4 $ 35.00 $ 50.00 $ 85.00 5 MPH Miles per round trip 0 Minutes D6 $ 60.00 $ 50.00 $ 110.00 0.5 Miles per Round Trip D7 $ 70.00 $ 50.00 $ 120.00 Dump or Spread Time per Round Trip 0 Minutes D8 $ 110.00 $ 50.00 $ 160.00 Hauling Cycle Time for this Setting (100% Efficiency) 2.05 Minutes Operator Efficiency Correction (80% Efficiency) 2.56 Minutes Loader Rate ($/Hr.) Capacity (cy) Operator ($/Hr.) 14G Cat Wheel Loader $ 60.00 3 $ 50.00 $ 110.00 Cat 325 Excavator $ 130.00 1.5 $ 50.00 $ 180.00 Time Per Cubic Yard Rate Delay (Min) Loading (Min/Load) Hauling Only (per cubic yard) 0.21 min/cu.yd Loading Costs Time (Min) Delay Time (while loading = loading time per cubic yard) 0.52 min/cu.yd Crushed Rock 5 1.25 6.25 Time Per Cubic Yard 0.73 min/cu.yd Pit-Run/Jaw-Run Rock 5 1.25 6.25 Rip Rap Rock 5 1.25 6.25 Hauling Cost Per Cubic Yard Computation Fill Material 5 1.25 6.25 Cost of Truck Per Hour $ 50.00 per Hr. Cost of Truck Operator Pre Hour $ 35.00 per Hr. Dump or Spread Time (Min) Operating Cost Per Hour $ 85.00 per Hr. Pile Dump 0.25 Operating Cost Per Minute $ 1.42 per Min. Truck Spread 0.5 Cost Per Cubic Yard $ 1.04 per Cu. Yd. Spreading w/dozer 5 Loading Cost Per Cubic Yard $ 1.56 per Cu. Yd. Place with Excavator 6 Spreading Cost Per Cubic Yard Cost of Excavator Per Hour $ 130.00 per Hr. Cost of Excavator Operator Per Hour $ 50.00 per Hr. Cost of Compaction Equip. Per Hour $ 50.00 per Hr. Cost of Compaction Equip. Op. Per Hour $ 50.00 per Hr. Operating Cost Per Hour $ 280.00 per Hr. Cost Per Cubic Yard to Place and Compact $ 1.94 Cu. Yd. Cost to Load, Haul, and Place $ 4.55 Cu. Yd. James Stuart 04/12/2018

MOVE-IN COSTS Gravy Train Timber Sale Equipment Transport Hours of Cost Weedwash Weedwash No. Description Cost Transport to move Time Labor $65/hr Cost 1 Grader $ 260 4 $ 1,040.00 0.0 $ 1,040.00 1 Rollers & Compactor $ 260 4 $ 1,040.00 0.0 $ 1,040.00 1 Excavator $ 260 4 $ 1,040.00 6.0 $ 390.00 $ 1,430.00 1 Small backhoe $ 260 4 $ 1,040.00 3.0 $ 195.00 $ 1,235.00 1 Tractors (D5 - D8) $ 260 4 $ 1,040.00 6.0 $ 390.00 $ 1,430.00 2 Dump Truck (10 cy +) $ 95 1 $ 190.00 0.0 $ 190.00 0 Loader $ 260 4 0.0 0 Road Brusher $ 260 4 3.0 $ 195.00 1 Water Truck (1000 gallon) $ 95 1 $ 95.00 0.0 $ 95.00 s $ 6,460.00 TOTAL MOVE-IN COSTS ONE TIME = $ 6,460.00 James Stuart 04/12/2018

CRUISE REPORT Gravy Train Contract No. 341-18-106 1. Locations: Portions of Sections 31 and 32, T7S, R2E, W.M., Marion County, Oregon 2. Cruise Design: The cruise design for areas 1 and 2 are as follows: Area 1: Assumed a Coefficient of Variation of 33.5% an average stand diameter of 28 inches, a desired sampling error of 11% at a 68% confidence level. Pre-cruise plots indicated that approximately 6 trees per plot could be realized with a 20 BAF. The resulting standard error for board foot volume was 5.8% Area 2: Assumed a Coefficient of Variation of 37.6%, an average stand diameter of 33 inches, a desired sampling error of 11% at a 68% confidence level. Pre-cruise plots indicated that approximately 6 trees per plot could be realized with a 20 BAF. The resulting standard error for board foot volume was 8.0% 3. Sampling Methods: Area 1 was cruised in January of 2018 with 33 grade plots. Plots were laid out on a 4 chain x 4 chain grid. Plots falling on or near existing roads, no-harvest areas, or riparian management areas were offset 1/2 chain. Area 2 was cruised in January of 2018 with 23 grade plots. Plots were laid out on a 4 chain x 4 chain grid. Plots falling on or near existing roads, no-harvest areas, or riparian management areas were offset 1/2 chain. 4. Cruise Report: Additional and more specific cruise summaries are included in the SuperAce outputs: Project Statistics, Stand Table Summary, Log Stock Table, and Species, Sort, Grade Table. 5. Tree Measurement and Grading: All grade plot sample trees were measured and graded following Columbia River Log Scale grade rules and favoring 40 foot segments. a) Height Standards: tree heights were measured to the nearest foot. Bole heights were calculated to 25% of DBH. b) Diameter Standards: Diameters were measured outside bark at breast height to the nearest tenth of an inch. c) Form Factors were measured for each grade tree using a form point of 17 feet. 5. Data Processing: a) Volumes and Statistics, Cruise, volume estimates and sampling statistics were derived from Super Ace 2008 cruise software. b) Deductions: An 8 percent volume deduction was used for Douglas-fir and a ten percent volume deduction was used for all other species to account for hidden defect and breakage. c) Acreage: net acres of both units was 155. Due to certain acres having extremely low stocking in Area 2, the cruise was run on a total of 149 net acres. 6. Cruisers: The sale was cruised by O cruisers Mitchell, Taylor and Kaupp.

TC PSTNDSUM Stand Table Summary Page 1 Date: 2/5/2018 TT7S RR2E S31 Ty0001 60.00 Project GRAVY1 Time: 9:18:22AM Acres 60.00 Grown Year: Spc S T DBH Sample Trees FF 16' Tot Av Ht Trees/ Acre BA/ Acre Logs Acre Average Log Net Cu.Ft. Net Bd.Ft. Tons/ Acre Net Cu.Ft. Acre Net Bd.Ft. Acre Tons T o t a l s Cunits MBF 20 1 82 170.729 1.65 2.19 39.2 165.6 2.52 86 362 151 51 22 29 5 84 153 1.837 8.27 5.51 74.9 343.2 12.13 413 1,891 728 248 113 30 6 84 158 2.030 9.93 6.76 75.9 359.1 15.07 513 2,427 904 308 146 31 7 84 155 2.218 11.58 7.29 81.1 378.6 17.36 591 2,759 1,042 355 166 32 12 81 157 3.575 19.86 12.20 81.6 363.2 29.27 996 4,432 1,756 598 266 33 11 82 161 3.057 18.20 11.39 84.0 395.5 28.09 956 4,504 1,685 574 270 34 8 83 157 2.114 13.24 7.65 89.3 419.5 20.07 683 3,211 1,204 410 193 35 5 81 156 1.247 8.27 4.49 92.1 415.1 12.16 414 1,865 730 248 112 36 3 82 158.704 4.96 2.58 99.3 478.4 7.52 256 1,233 451 154 74 37 3 81 162.673 4.96 2.47 104.5 491.7 7.57 258 1,213 454 155 73 38 3 81 160.629 4.96 2.52 102.2 486.4 7.56 257 1,224 454 154 73 39 4 82 160.808 6.62 3.23 107.6 526.9 10.22 348 1,703 613 209 102 41 1 73 169.180 1.65.72 113.0 489.9 2.40 82 354 144 49 21 42 2 79 165.338 3.31 1.35 126.9 590.2 5.05 172 799 303 103 48 47 1 72 171.138 1.65.55 149.4 644.0 2.42 82 355 145 49 21 s 72 82 158 20.276 119.13 70.90 86.1 399.6 179.41 6,106 28,332 10,765 3,664 1,700 s 72 82 158 20.276 119.13 70.90 86.1 399.6 179.41 6,106 28,332 10,765 3,664 1,700

TC PLOGSTVB Log Stock Table - MBF TT7S RR2E S31 Ty0001 60.00 Project: GRAVY1 Acres 60.00 Page 1 Date 2/5/2018 Time 9:18:23AM Spp S T So Gr Log Gross Def Net % Net Volume by Scaling Diameter in Inches rt de Len MBF % MBF Spc 2-3 4-5 6-7 8-9 10-11 12-13 14-15 16-19 20-23 24-29 30-39 40+ DO 2M 30 3 8.0 2.1 2 DO 2M 34 20 8.0 18 1.1 18 DO 2M 38 21 8.0 20 1.2 20 DO 2M 40 1,706 8.1 1,567 92.2 47 78 426 638 363 15 DO 3M 30 1 8.0 1.1 1 DO 3M 34 6 8.0 6.3 1 4 DO 3M 40 77 8.0 71 4.2 4 37 30 DO 4M 12 2 8.0 1.1 1 0 DO 4M 18 7 8.0 6.4 3 3 DO 4M 20 3 8.0 3.2 3 0 DO 4M 24 4 8.0 4.2 1 3 DO 4M 28 1 8.0 1.0 1 DO 4M 30 0 8.0 0.0 0 s 1,850 8.1 1,700 100.0 1 16 45 30 87 78 426 638 363 15 All Species 1,850 8.1 1,700 100.0 1 16 45 30 87 78 426 638 363 15

TC PSTATS PROJECT STATISTICS PROJECT GRAVY1 PAGE DATE 1 2/5/2018 TWP RGE SC TRACT TYPE ACRES PLOTS TREES CuFt BdFt T7S R2 31 GRAVY1 0001 60.00 23 137 S W PLOTS TREES TOTAL 23 137 6.0 ESTIMATED PERCENT TREES TOTAL SAMPLE PER PLOT TREES TREES CRUISE 12 72 6.0 1,217 5.9 DBH COUNT REFOREST COUNT 11 65 5.9 BLANKS 100 % STAND SUMMARY SAMPLE TREES AVG BOLE REL BASAL GROSS NET GROSS NET TREES /ACRE DBH LEN DEN AREA BF/AC BF/AC CF/AC CF/AC DOUG FIR 72 20.3 32.8 158 20.8 119.1 30,837 28,332 6,295 6,106 TOTAL 72 20.3 32.8 158 20.8 119.1 30,837 28,332 6,295 6,106 CONFIDENCE LIMITS OF THE SAMPLE 68.1 TIMES OUT OF 100 THE VOLUME WILL BE WITHIN THE SAMPLE ERROR CL 68.1 SD: 1.0 DOUG FIR COEFF TOTAL 28.5 CL 68.1 SD: 1.0 DOUG FIR SAMPLE TREES - BF # OF TREES REQ. INF. POP. VAR.% S.E.% LOW AVG HIGH 5 10 15 28.5 3.4 1,430 1,479 1,529 COEFF TOTAL 24.7 CL 68.1 SD: 1.0 DOUG FIR 3.4 1,430 1,479 1,529 32 8 4 SAMPLE TREES - CF # OF TREES REQ. INF. POP. VAR.% S.E.% LOW AVG HIGH 5 10 15 24.7 2.9 309 318 328 COEFF TOTAL 36.3 CL 68.1 SD: 1.0 DOUG FIR 2.9 309 318 328 24 6 3 TREES/ACRE # OF PLOTS REQ. INF. POP. VAR.% S.E.% LOW AVG HIGH 5 10 15 36.3 7.7 19 20 22 COEFF TOTAL 36.7 CL 68.1 SD: 1.0 DOUG FIR 7.7 19 20 22 55 14 6 BASAL AREA/ACRE # OF PLOTS REQ. INF. POP. VAR.% S.E.% LOW AVG HIGH 5 10 15 36.7 7.8 110 119 128 COEFF TOTAL 37.6 CL 68.1 SD: 1.0 DOUG FIR 7.8 110 119 128 56 14 6 NET BF/ACRE # OF PLOTS REQ. INF. POP. VAR.% S.E.% LOW AVG HIGH 5 10 15 37.6 8.0 26,060 28,332 30,604 COEFF TOTAL 36.9 8.0 26,060 28,332 30,604 59 15 7 NET CUFT FT/ACRE # OF PLOTS REQ. INF. POP. VAR.% S.E.% LOW AVG HIGH 5 10 15 36.9 7.9 5,626 6,106 6,586 7.9 5,626 6,106 6,586 57 14 6

TC PSPCSTGR Species, Sort Grade - Board Foot Volumes (Project) TT7S RR2E S31 Ty0001 60.00 Project: Acres GRAVY1 60.00 Page 1 Date 2/5/2018 Time 9:18:20AM % Percent of Net Board Foot Volume Average Log Logs S So Gr Net Bd. Ft. per Acre Log Scale Dia. Log Length Ln Dia Bd CF/ Per Spp T rt ad BdFt Def% Gross Net Net MBF 4-5 6-11 12-16 17+ 12-20 21-30 31-35 36-99 Ft In Ft Lf /Acre DO 2M 94 8.1 29,154 26,784 1,607 16 84 0 1 99 40 18 556 2.92 48.2 DO 3M 5 8.0 1,401 1,289 77 100 1 7 91 39 9 102 0.88 12.6 DO 4M 1 8.0 282 259 16 8 92 69 31 19 7 26 0.51 10.1 s 100 8.1 30,837 28,332 1,700 0 5 15 79 1 0 1 97 37 15 400 2.35 70.9 s 8.1 30,837 28,332 1,700 0 5 15 79 1 0 1 97 37 15 400 2.35 70.9

TC PSTNDSUM Stand Table Summary Page 1 Date: 2/5/2018 TT7S RR2E S32 Ty0001 89.00 Project GRAVY2 Time: 9:35:14AM Acres 89.00 Grown Year: Spc S T DBH Sample Trees FF 16' Tot Av Ht Trees/ Acre BA/ Acre Logs Acre Average Log Net Cu.Ft. Net Bd.Ft. Tons/ Acre Net Cu.Ft. Acre Net Bd.Ft. Acre Tons T o t a l s Cunits MBF 22 7 81 129 3.280 8.58 9.38 38.0 142.2 10.46 356 1,334 931 317 119 23 1 82 130.410 1.23 1.23 39.8 162.5 1.44 49 200 128 44 18 24 5 80 133 1.951 6.13 5.85 44.9 175.2 7.72 263 1,025 687 234 91 25 12 81 130 4.331 14.71 12.99 48.3 188.7 18.44 628 2,451 1,641 559 218 26 10 79 133 3.281 12.25 9.84 53.6 202.7 15.49 527 1,995 1,379 469 178 27 5 83 133 1.548 6.13 4.65 59.0 242.8 8.05 274 1,128 717 244 100 28 4 79 134 1.163 4.90 3.49 61.1 232.1 6.26 213 810 557 190 72 29 7 82 134 1.868 8.58 5.61 67.5 278.0 11.11 378 1,558 989 337 139 30 12 76 133 3.008 14.71 9.02 69.5 250.0 18.43 627 2,256 1,640 558 201 31 5 79 138 1.177 6.13 3.53 77.4 309.5 8.03 273 1,093 714 243 97 32 9 76 140 2.004 11.03 6.01 81.5 311.1 14.40 490 1,871 1,282 436 166 33 1 71 137.209 1.23.63 82.9 272.9 1.53 52 171 136 46 15 34 2 71 141.390 2.45 1.17 90.2 313.4 3.10 106 367 276 94 33 35 1 77 138.181 1.23.54 99.9 386.4 1.60 54 210 142 48 19 36 1 71 149.178 1.23.53 105.1 383.3 1.65 56 205 147 50 18 37 1 84 161.169 1.23.67 98.6 499.1 1.95 67 337 174 59 30 39 1 75 146.152 1.23.45 119.2 456.9 1.59 54 208 142 48 18 42 1 79 146.127 1.23.38 150.8 671.6 1.69 58 257 151 51 23 44 1 68 120.118 1.23.35 138.1 432.4 1.43 49 153 127 43 14 46 2 79 144.211 2.45.74 156.2 701.3 3.39 115 517 301 103 46 51 1 77 149.085 1.23.26 220.8 935.3 1.66 57 240 148 50 21 53 1 75 152.080 1.23.32 174.4 768.2 1.64 56 246 146 50 22 58 1 77 134.066 1.23.20 272.8 1082.5 1.60 54 215 142 48 19 s 91 79 134 25.989 111.52 77.86 62.4 242.1 142.66 4,856 18,846 12,697 4,321 1,677 s 91 79 134 25.989 111.52 77.86 62.4 242.1 142.66 4,856 18,846 12,697 4,321 1,677

TC PLOGSTVB Log Stock Table - MBF TT7S RR2E S32 Ty0001 89.00 Project: GRAVY2 Acres 89.00 Page 1 Date 2/5/2018 Time 9:35:12AM Spp S T So Gr Log Gross Def Net % Net Volume by Scaling Diameter in Inches rt de Len MBF % MBF Spc 2-3 4-5 6-7 8-9 10-11 12-13 14-15 16-19 20-23 24-29 30-39 40+ DO 2M 34 7 8.0 7.4 7 DO 2M 38 11 8.0 10.6 10 DO 2M 40 1,448 8.2 1,329 79.2 202 246 647 203 32 DO 3M 28 1 8.0 1.1 1 DO 3M 30 26 8.0 23 1.4 14 9 DO 3M 34 6 8.0 6.3 2 3 DO 3M 36 1 8.0 1.1 1 DO 3M 38 6 8.0 5.3 5 DO 3M 40 135 8.0 124 7.4 9 29 86 DO 4M 12 7 8.0 7.4 6 1 DO 4M 18 2 8.0 2.1 1 0 DO 4M 20 19 8.0 18 1.1 9 9 DO 4M 22 1 8.0 1.1 1 DO 4M 24 8 8.0 7.4 0 6 1 DO 4M 26 3 8.0 3.2 3 DO 4M 30 7 8.0 7.4 2 5 DO 4M 40 0 8.0 0.0 0 DO O3 40 137 8.0 126 7.5 1 7 5 7 52 54 s 1,827 8.2 1,677 100.0 2 58 52 86 226 254 651 210 84 54 All Species 1,827 8.2 1,677 100.0 2 58 52 86 226 254 651 210 84 54

TC PSTATS PROJECT STATISTICS PROJECT GRAVY2 PAGE DATE 1 2/5/2018 TWP RGE SC TRACT TYPE ACRES PLOTS TREES CuFt BdFt T7S R2 32 GRAVY2 0001 89.00 33 184 S W PLOTS TREES TOTAL 33 184 5.6 ESTIMATED PERCENT TREES TOTAL SAMPLE PER PLOT TREES TREES CRUISE 16 91 5.7 2,313 3.9 DBH COUNT REFOREST COUNT 17 93 5.5 BLANKS 100 % STAND SUMMARY SAMPLE TREES AVG BOLE REL BASAL GROSS NET GROSS NET TREES /ACRE DBH LEN DEN AREA BF/AC BF/AC CF/AC CF/AC DOUG FIR 91 26.0 28.0 134 21.1 111.5 20,525 18,846 5,006 4,856 TOTAL 91 26.0 28.0 134 21.1 111.5 20,525 18,846 5,006 4,856 CONFIDENCE LIMITS OF THE SAMPLE 68.1 TIMES OUT OF 100 THE VOLUME WILL BE WITHIN THE SAMPLE ERROR CL 68.1 SD: 1.0 DOUG FIR COEFF TOTAL 65.5 CL 68.1 SD: 1.0 DOUG FIR SAMPLE TREES - BF # OF TREES REQ. INF. POP. VAR.% S.E.% LOW AVG HIGH 5 10 15 65.5 6.9 807 867 926 COEFF TOTAL 57.2 CL 68.1 SD: 1.0 DOUG FIR 6.9 807 867 926 171 43 19 SAMPLE TREES - CF # OF TREES REQ. INF. POP. VAR.% S.E.% LOW AVG HIGH 5 10 15 57.2 6.0 208 221 234 COEFF TOTAL 36.2 CL 68.1 SD: 1.0 DOUG FIR 6.0 208 221 234 131 33 15 TREES/ACRE # OF PLOTS REQ. INF. POP. VAR.% S.E.% LOW AVG HIGH 5 10 15 36.2 6.3 24 26 28 COEFF TOTAL 32.3 CL 68.1 SD: 1.0 DOUG FIR 6.3 24 26 28 52 13 6 BASAL AREA/ACRE # OF PLOTS REQ. INF. POP. VAR.% S.E.% LOW AVG HIGH 5 10 15 32.3 5.6 105 112 118 COEFF TOTAL 33.5 CL 68.1 SD: 1.0 DOUG FIR 5.6 105 112 118 42 10 5 NET BF/ACRE # OF PLOTS REQ. INF. POP. VAR.% S.E.% LOW AVG HIGH 5 10 15 33.5 5.8 17,749 18,846 19,943 COEFF TOTAL 32.7 5.8 17,749 18,846 19,943 45 11 5 NET CUFT FT/ACRE # OF PLOTS REQ. INF. POP. VAR.% S.E.% LOW AVG HIGH 5 10 15 32.7 5.7 4,580 4,856 5,132 5.7 4,580 4,856 5,132 43 11 5

TC PSPCSTGR Species, Sort Grade - Board Foot Volumes (Project) TT7S RR2E S32 Ty0001 89.00 Project: Acres GRAVY2 89.00 Page 1 Date 2/5/2018 Time 9:35:13AM % Percent of Net Board Foot Volume Average Log Logs S So Gr Net Bd. Ft. per Acre Log Scale Dia. Log Length Ln Dia Bd CF/ Per Spp T rt ad BdFt Def% Gross Net Net MBF 4-5 6-11 12-16 17+ 12-20 21-30 31-35 36-99 Ft In Ft Lf /Acre DO 2M 80 8.2 16,475 15,120 1,346 44 56 1 99 40 16 368 2.34 41.1 DO 3M 9 8.0 1,965 1,808 161 97 3 15 3 81 36 9 99 0.78 18.3 DO 4M 3 8.0 542 499 44 4 93 3 59 40 1 20 7 29 0.51 17.1 DO O3 8 8.0 1,543 1,420 126 6 94 100 40 24 987 5.74 1.4 s 100 8.2 20,525 18,846 1,677 0 12 36 52 2 3 1 95 35 12 242 1.79 77.9 s 8.2 20,525 18,846 1,677 0 12 36 52 2 3 1 95 35 12 242 1.79 77.9

TIMBER SALE SUMMARY Gravy Train Contract No. 341-18-106 1. Location: Portions of Sections 31 and 32, T7S, R2E, W.M., Marion County, Oregon 2. Type of Sale: This timber sale is a 2 unit, 155 acre regeneration harvest. The timber will be sold on a recovery basis at a sealed bid auction. 3. Revenue Distribution: 100% BOF, Marion County 4. Sale Acreage: Acres are net of stream buffers and road prisms. Acreage was determined using ESRI ArcMap GIS software. 5. Cruise: The Timber Sale was cruised by O Cruisers in January of 2018. For more information see Cruise Report. 6. Timber Description: The Timber Sale Area consists of medium stocked 80 year old Douglas-fir. The average Douglas-fir DBH is 30. The total estimated net per acre Douglas-fir volume is 22 MBF. 7. Volume Summary: See attached document (Timber Sale Notice). 8. Topography and Logging Method: The average elevation for the Timber Sale is 2,100 feet. Slopes within the sale areas range from 5% to 30% and are a Southwest aspect. The Timber Sale Areas are 100% ground-based yarding. The average horizontal tractor yarding distance is approximately 600 feet and the maximum is approximately 800 feet. 9. Access: The Timber Sale Areas are located southeast of Silverton, Oregon within Department of Forestry lands on the North Cascade District. Access to the Timber Sale Areas is as follows: from the town of Silverton, Oregon, continue southeast on Highway 214 approximately 9.7 miles, then turn left onto the Grade Road. Continue along the Grade Road approximately 6.5 miles to the intersection of the A-120 and Grade Rd. Continue up the A-120 for.5 miles and then onto Bridge Creek Rd. for approximately 1 mile until you reach the intersection of the A100 Rd. (A gate key or combination will be needed for acess and can be checked out at the O office in Lyons). Continue on the A100 for 1 mile until you reach the Y intersection of Cedar Creek Rd. To access Area 2 continue left on the A100 Rd. for approximately 1 mile, and to access Area 1 continue straight onto Cedar Creek Rd. for approximately.5 miles until you reach timber sale boundary signs. 10. Projects: Project No. 1: Road Improvement Project No. 2: Stockpile Project No. 3: Exploratory Drilling $163,844.46 $72,949.24 $6,720.00 Credit for all Projects (rounded) $243,600.00 Gravy Train 341-18-106 Page 1 of 1

1800 Bridge Creek 30 CC400 2000 29 CC300 28 2000 Cedar Creek South Fork 2200 2000 CC200 7-2E-33.1 CC100 )))))))) ) )) ))))))))))))))) )))))))))))))))) )))))))))) )))) ))))))))))))) AREA 1 Cedar Creek Road 8-2E-4.1 CC150 31 1600 1800 T7S R2E 32 33 A106A A106C A106 2000 2000 Little Abiqua Creek AREA 2 A106B )))))) )) )))) ))))) Abiqua 100 )) Brooks Creek 2000 T8S R2E 6 110 5 4 Legend )))))))) Buffer ' ' Timber Sale Boundary ))) ' ' ))))))) ))) ' ' ' ' Roads GTR Santiam State Forest Streams Fish Nonfish Sections Townships 40 ft Contours Contour Type Index Intermediate EXHIBIT A LOGGING MAP FOR TIMBER SALE CONTRACT # 341-18-106 GRAVY TRAIN PORTIONS OF SECTIONS 31,32, T7S, R2E, W.M. MARION COUNTY, OREGON 0 375 750 1,500 2,250 3,000 Map Projection: Oregon Statewide Lambert International Feet, NAD 1983 Feet. North Cascade District GIS January, 2018 This product is for informational use and may not be suitable for legal, engineering, or surveying purposes. APPROXIMATE NET ACRES AREA 1 AREA 2 TOTAL 89 66 155 ACRES (MC) ACRES (MC) ACRES