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

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Due Diligence Documentation "Exhibit E-4"

Property Surveys

The following notes are provided pertaining to this exhibit:

  1. What: the property survey is a multi-phase program that provides a metes & bounds survey, topographical survey (where appropriate), a tree survey (also where appropriate) and an encroachments survey.  The survey is critical to affixing the foundation plan, delineating wetlands, creating egress/ingress, obtaining zoning approval and estimating the required building dimensions.

  2. When: during the pre-construction phase once the market feasibility study (see Exhibit F-3) and pro forma financial presentation (see Exhibit F-5) have been completed and accepted.

  3. Why: the production of all of the required property surveys is critical to maintaining both schedule and carrying costs.  Accordingly, the property surveys play a critical role.

  4. Where: prepared using field measurements and plat filings in the land records of the county in which the site is situated.

  5. How: reviews must be undertaken by the Developer and the Design/Builder and approvals should be noted on the drawings.

  6. What's important: getting the surveys correct, identifying potential encroachments and eliminating easements and rights-of-way that are no longer valid.

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