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

Due Diligence Documentation "Exhibit P-9"

Flood Plain Certification

The following notes are provided pertaining to this exhibit:

What: all projects in low-lying areas are required to have flood insurance. The provision of flood insurance is dependent upon a certification as to the elevation of the building foundation above a certain sea level.
When: this certification is provided at the same time as the proposed Project Site Plan is approved.
Why: commercial real estate development programs undertaken in low-lying areas may expose the Syndicate to a loss of value due to a flood. Accordingly, all projects located in low-lying areas are required to have flood insurance. The Project Surveyor (and/or Project Civil Engineer, as the case may be) provide the certifications required in order to participate in the national flood insurance program.
Where: these documents are kept on file in the onsite construction offices, the Design/Builder's offices and the Developer/Sponsor's offices in an electronic file.
How: this certification is provided by the Project Surveyor/Civil Engineer as part of the Approved Site Plan (see Exhibit E-5).
What's important: the foundation of the proposed Project must be outside the 100-Year Flood Plain in order to participate in the national flood insurance program. The Syndicator's policy is to require the foundation elevation to be outside the 500-Year Flood Plain.

For more information, please contact us at 832.659.5009 or via email at info@realestateplays.com.

Send mail to info@realestateplays.com with questions or comments about this web site.

15519 Dawnbrook Drive, Houston, Texas 77068

Telephone: 832.659.5009

Fax: 206.600.5310