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

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Due Diligence Documentation "Exhibit F-10"

Project Accounting Firm Profile

The following notes are provided pertaining to this exhibit:

  1. What: the proposed Project will entail the investment of millions of dollars and these funds must be accounted for at all times.  Accordingly, the Developer will retain the services of a certified public accountant for the purposes of providing accounting and tax filings for the Sponsor.

  2. When: the Project Accountant is retained once the market feasibility study is complete (see Exhibit F-3), the pro forma financial presentation is complete (see Exhibit F-5) and the Project Site is under contract (see Exhibit P-11).

  3. Why: third-party accounting is a requirement for any type of commercial income-producing property development program.

  4. Where: documents are filed with the Developer or Sponsor.

  5. How: the Project Accountant takes all the ledger entries each month and reconciles all of the project ownership entity's accounts.

  6. What's important: getting an independent firm capable of providing these services on an expedited basis and for a fee that is reasonable given the scope of the proposed Project.

 

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