This table displays the estimated costs. The estimated costs are preliminary and are based upon ABC’s experience in conducting similar projects. The actual cost will be affected by factors such as project duration, site access, market conditions, and other contingencies applied by the owner. This project summary is not to be used alone. The attached report is intended to be read in its entirety.

Definitions:

The property is accessed off of Stanford Square along the northern property boundary. An access drive also exists along the south side of the property along. This southern access drive is currently blocked by a gate since nonresidents were reportedly using the property as a convenient short cut. Landscaping consisting of grass, trees, and shrubs exists along the northern property line and the south side of the property. The majority of the asphalt paved parking and drives are located on the east side of the site. Parking is provided for approximately 30 cars in steel-framed carports, and another 60 spaces exist at grade in uncovered parking. Five spaces exist under two of the buildings in carports on the south side of the property.

All five residential buildings are constructed over concrete slab-on-grades, and although not visible, their foundations likely consist of conventional spread footings. All the buildings are of wood frame construction, and their exterior walls are covered with stucco. The two buildings on the south side of the property have hip style roofs that are covered with concrete tiles. The three buildings on the north side of the property have concrete tile mansards, and the flat portions of the roofs are covered with rolled mineralized roofing systems. All apartments are accessed from a private entrance at grade or a common area balcony. In addition, all apartments either have a private patio or balcony on the opposite side of the building from the front entrance.

Balconies are cantilevered extensions of the second levels’ floor joists. The front common area balconies also have wood columns for further support. Rear private balconies are only cantilevered. All balconies are covered with plywood and a mineralized felt roof covering for protection from the elements.

Heating to the units is provided by individual natural gas furnaces manufactured by Payne. These units are typical located within a mechanical closet in every apartment. Air conditioning is provided by individual direct expansion (DX) units with exterior pad-mounted condensing units. The evaporator coils for the units are located within the closet-mounted furnace which acts the HVAC system’s air handling unit. Conditioned air is then distributed in the apartment through the ductwork hidden in each apartment’s central hallway ceiling for distributionvto the various rooms. Domestic hot water is provided by individual gas-fired water heaters that typically have a capacity of ±50 gallons. Hot water to the pool pumping equipment is provided by a gas-fired boiler. All piping was observed and was reported to be copper.

Electrical service is 800-amp, 120/240V, single-phase, service, and appeared to be adequate for the building and its current electrical load. Each unit is individually metered for electricity, and the common areas are metered separately. All units are also individually metered for gas consumption.

The City of Dulles provides service to the Subject for domestic water and sanitary sewer. Dominion Power provides electricity, and natural gas is provided by Washington Gas. Storm water runoff from the property sheet flows to the service drive/parking area on the east side of the property and is discharged into the gutter along Stanford Square on the south side of the property.

It is our opinion that the remaining useful life of the property can continue for its intended purposes for at least an additional 35 years if the recommended repairs in this report are made, the physical improvements receive continuing maintenance, and if the various components and/or systems are replaced or repaired in a timely basis as needed.

All materials faults and/or deficiencies observed which require immediate expense consist of the following:

There are a limited number of deferred maintenance items, which should be corrected as part of routine maintenance.

There are a number of immediate repairs/replacements required at this time as follows:

Using a 2.5% inflation rate over a 12-year term, the estimated funding requirements for capital reserve expenditures are:

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John A. Doe

Field Observer