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

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Due Diligence Documentation "Exhibit C-8"

Value Engineering Report/Independent Cost Estimate

The following notes are provided pertaining to this exhibit:

  1. What: this is an independent cost analysis of the costs of construction together with suggested changes that could result in savings (in one form or another) in the construction process or in the utility value of the resulting buildings and structures to be constructed.

  2. When: this is prepared prior to the Design/Builder issuing the final construction cost estimate.

  3. Why: the contractor has a conflict-of-interest.

  4. Where: construction phase operations.

  5. How: a separate contract is issued to a third-party firm that independently prices the job.

  6. What's important: the report should be acknowledged by the Design/Builder and used to resolve differences in the two (2) pricing models.

  7. This exhibit is not required for syndications of existing properties that do not contemplate any new construction.

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