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

Due Diligence Documentation "Exhibit F-12"

Project Accounting Consultant Contract

The following notes are provided pertaining to this exhibit:

What: all accounting services must be provided pursuant to a fee-for-services agreement that specifies the required services to be delivered and the schedule of payments to be made in exchange for the services provided.
When: during the pre-construction phase once the Market Feasibility Study (see Exhibit F-3), the Project Site and Pro Forma Financial Presentation (see Exhibit F-5) and the Project Site has been bound over via an enforceable purchase agreement (see Exhibit P-11) have been completed and accepted.
Why: the provision of these services have a material impact on the proposed Project's total development cost budget and the financial transparency tenets maintained via the realestate.com^sm accounting standards and requirements. Accordingly, these services must be provided pursuant to a contractual agreement to protect the rights of the Owner and the syndicate purchasers/investors.
Where: at the offices of the Project Accounting Consultant.
How: review of proposed contract, errors and omissions insurance (naming the Owner as "also-insured") and payment requirements. All reports to be in electronic file format and available to all parties on an equal basis (i.e.: email alert and posting notice).
What's important: a full-scope agreement that includes insurance that is appropriate for the scope of work to be provided.

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