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

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Due Diligence Documentation "Exhibit F-16"

Project Auditor's Construction Phase Audit Trail Report

The following notes are provided pertaining to this exhibit:

  1. What: the provision of auditing services once a given project has completed construction (for post-construction phase syndications).

  2. When: during the construction phase once construction operations have been completed or the completion of the annual accounting period of the Sponsor entity.

  3. 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.comsm 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.

  4. Where: at the offices of the Project Auditing Consultant and is posted as an electronic document available to all project stakeholders.

  5. How: an audit of the expenses and sources of capital for the Sponsor entity's construction program.

  6. 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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