Fractional Dutch Auctions of Commercial Income-Producing Real Estate Properties - TIC Plan Ownership Syndications

Due Diligence Documentation "Exhibit C-3"

Contractor Personal Resumes

The following notes are provided pertaining to this exhibit:

What: the Design/Builder has to use people to manage the construction and project design functions. The work these people undertake and manage directly impact the project development cost budget and the development schedule.
When: at the time of executing the Design/Build Construction Contract, the proposed project management personnel are submitted to the Owner for the Owner's review and approval.
Why: it is important to exercise due diligence in selecting not just the contracting firm (the Design/Builder) but also the people who will be in charge of the actual construction schedule.
Where: these personnel work both on site and off site. These construction professionals directly manage the on site program and coordinate the project work/project access for all other disciplines.
How: electronic file transfer. In many cases if the Owner has not approved the personnel it is because a lapse of time has occurred and the approval is automatically assumed in the absence of a direct objection.
What's important: the personnel assigned to manage the construction program should have direct experience in the types of construction systems and the type of project being built.
This exhibit is not required for syndications of existing properties that do not contemplate any new construction.

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