Metro Condominiums. Level 1 Reserve Study. Report Period 1/1/ /31/2011. Report prepared on Friday, February 11, 2011

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1 Metro Condominiums Level 1 Reserve Study Report Period 1/1/ /31/2011 Client Reference Number Property Type Condominium Number of Units 121 Fiscal Year End 12/31 Date of Property Inspection Prepared By Analysis Method Funding Goal 1/26/2011 Dale Gifford Cash Flow Full Funding Report prepared on Friday, February 11, 2011 TEL: (888) Fax: (866)

2 Table of Contents Introduction Executive Summary page 1 Introduction page 2 General Information and Frequently Asked Questions page 3-4 Reserve Analysis Funding Summary page 5 Percent Funded Graph page 6 Component Inventory page 7-8 Significant Components page 9-10 Significant Components Graph page 11 Yearly Summary page 12 Yearly Reserve Contributions Graph page 13 Component Funding Information page Yearly Cash Flow page 16 Yearly Reserve Expenditures Graph page 17 Projected Reserve Expenditures by Year page Component Evaluation Component Evaluation page 1-73 Glossary of Commonly used Words and Phrases

3 Executive Summary Metro Condominiums - ID # Information to complete this Reserve Study was gathered by performing an on-site inspection of the common area elements. In addition, we also obtained information by contacting any vendors and/or contractors that have worked on the property recently, as well as communicating with the property representative (BOD Member and/or Community Manager). To the best of our knowledge, the conclusions and recommendations of this report are considered reliable and accurate insofar as the information obtained from these sources. Projected Starting Balance as of 1/1/2011 $232,117 Ideal Reserve Balance as of 1/1/2011 $354,230 Percent Funded as of 1/1/ % Recommended Reserve Contribution (per month) $11,000 Minimum Reserve Contribution (per month) $10,000 Recommended Special Assessment $0 Metro Condominiums is a 121-unit Condominium community. The community offers the security of an entry system, has a fitness room and spa as amenities. Construction on the community was completed in Currently Programmed Projects There are no projects programmed to occur this fiscal year (FY2011). (See page 18) Major Reserve Expenditures The first major reserve expenditure is programmed to occur in fiscal year Projects programmed to occur in fiscal year 2026 include balcony, garage and stair rail repaint (Comp# 219), HVAC fan coil units replace (Comp# 790), spa resurface (Comp# 1102), drinking fountain replace (Comp# 1304), office equipment replace (Comp# 1418), interior lights replace (Comp# 1601), and pole light fixtures replace (Comp# 1604). We have programmed approximately $655,304 in reserve funds or approximately 31% of fiscal year 2026 s recommended starting balance towards the completion of these projects (see pages 12 & 19). Significant Reserve Projects The association s significant reserve projects include HVAC fan coil units replace (Comp# 790), pli-dek deck reseal (Comp# 603), carpeting replace (Comp# 1501), and pli-dek deck resurface (Comp# 04). The fiscal significance of these components is approximately 16%, 10%, 6%, and 5% respectively (see page 11). A component s significance is calculated by dividing its replacement cost by its useful life. In this way, not only is a component s replacement cost considered but also the frequency of occurrence. These components most significantly contribute to the total monthly reserve contribution. As these components have a high level of fiscal significance the association should properly maintain them to ensure they reach their full useful lives. Reserve Funding In comparing the projected starting reserve balance of $232,117 versus the ideal reserve balance of $354,230 we find the association s reserve fund to be approximately 66% funded. This indicates a fair reserve fund position. In order to continue to strengthen the account fund, we suggest adopting a monthly reserve contribution of $11,000 ($90.91/unit) per month. We have also included a minimum reserve contribution of $10,000 ($82.64/unit) per month. If the contribution falls below this rate, then the reserve fund may fall into a situation where special assessments, deferred maintenance, and lower property values are likely at some point in the future. 1

4 Introduction Reserve Study Purpose The purpose of this Reserve Study is to provide an educated estimate of the necessary reserve allocation. The detailed schedules will serve as an advanced warning that major projects will need to be addressed in the future. This will allow the Board of Directors to have ample time to obtain competitive estimates and bids that will result in cost savings to the individual homeowners. It will also ensure the physical well-being of the property and ultimately enhance each owner s investment, while limiting the possibility of unexpected major projects that may lead to special assessments. Preparer s Credentials Mr. Gifford has been working in the community association industry for the last 8 years. Prior to taking a position, as the Regional Project Manager covering the Utah region, at Complex Solutions, he worked in community association management in Utah. While in community association management his positions included, Maintenance Supervisor, Senior Portfolio Manager and Vice President of Community Management. His work in community association management gave him extensive experience with; budget creation, reserves and reserve budgeting, community inspections and analyzing common area components. Bachelor of Science in Chemistry from Emporia State University Certified Manager of Community Associations (CMCA ) designation from the National Board of Certification for Community Association Managers (NBC-CAM) Association Management Specialist (AMS ) and Professional Community Association Manager (PCAM ) designations from Community Associations Institute (CAI) Active member and current chapter President of the Utah Chapter of Community Associations Institute (UCCAI) Budget Breakdown Every association conducts their business within a budget. There are typically two main parts to this budget, operating and reserves. The operating budget includes all expenses that are fixed on an annual basis. These would include management fees, maintenance fees, utilities, etc. The reserves is primarily made up of capital replacement items such as roofing, fencing, mechanical equipment, etc., that do not normally occur on an annual basis. Typically, the reserve contribution makes up 15% - 40% of the association s total budget. Therefore, reserves are considered to be a major part of the overall monthly association payment. Report Sections The Reserve Analysis Section contains the evaluation of the association s reserve balance, income, and expenses. It includes a finding of the client s current reserve fund status (measured as percent funded) and a recommendation for an appropriate reserve allocation rate (also known as the funding plan). The Component Evaluation Section contains information regarding the physical status and replacement cost of major common area components the association is responsible to maintain. It is important to understand that while the component inventory will remain relatively stable from year to year, the condition assessment and life estimates will most likely vary from year to year. 2

5 General Information and Frequently Asked Questions Why is it important to perform a Reserve Study? As previously mentioned, the reserve allocation makes up a significant portion of the total monthly dues. This report provides the essential information that is needed to guide the Board of Directors in establishing the budget in order to run the daily operations of your association. It is suggested that a third party professionally prepare the Reserve Study since there is no vested interest in the property. Also, a professional knows what to look for and how to properly develop an accurate and reliable component list. After we have a Reserve Study completed, what do we do with it? Hopefully, you will not look at this report and think it is too cumbersome to understand. Our intention is to make this Reserve Study easy to read and understand. Please take the time to review it carefully and make sure the main ingredients (component information) are complete and accurate. If there are any inaccuracies, please inform us immediately so we may revise the report. Once you feel the report is an accurate tool to work from, use it to help establish your budget for the upcoming fiscal year. The reserve allocation makes up a large portion of the total monthly dues and this report should help you determine the correct amount of money to go into the reserve fund. Additionally, the Reserve Study should act as a guide to obtain proposals in advance of pending projects. This will give you an opportunity to shop around for the best price available. The Reserve Study should be readily available for real estate agents, brokerage firms, and lending institutions for potential future homeowners. As the importance of reserves becomes more of a household term, people are requesting homeowners associations reveal the strength of the reserve fund prior to purchasing a condominium, town home, or any property that belongs to an association. How often do we update or review the Reserve Study? Unfortunately, there is a misconception that these reports are good for an extended period of time since the report has projections for the next 30 years. Just like any major line item in the budget, the Reserve Study should be reviewed each year before the budget is established. Invariably, some assumptions have to be made during the compilation of this analysis. Anticipated events may not materialize and unpredictable circumstances could occur. Deterioration rates and repair/replacement costs will vary from causes that are unforeseen. Earned interest rates may vary from year to year. These variations could alter the content of the Reserve Study. Therefore, this analysis should be reviewed annually, and a property inspection should be conducted at least once every three years. Is it the law to have a Reserve Study conducted? The Government requires reserve analyses in approximately 20 States. Even if it is not currently governed by your State, the chances are very good that the documents of the association require the association to have a reserve fund established. This doesn t mean a Reserve Study is required, but how are you going to know you have enough funds in the account if you don t have the proper information? Some associations look at the Reserve fund and think that $50,000 is a lot of money and they are in good shape. What they don t know is that the roof is going to need to be replaced within 5 years, and the cost of the roof is going to exceed $75,000. So while $50,000 sounds like a lot of money, in reality it won t even cover the cost of a roof, let alone all the other amenities the association is responsible to maintain. What is a Reserve Component versus an Operating Component? A Reserve component is an item that is the responsibility of the association to maintain, has a limited useful life, predictable remaining useful life, typically occurs on a cyclical basis that exceeds 1 year, and costs above a minimum threshold amount. An Operating expense is typically a fixed expense that occurs on an annual basis. For instance, minor repairs to a roof for damage caused by high winds or other weather elements would be considered an Operating expense. However, if the entire roof needs to be replaced because it has reached the end of its life expectancy, then the replacement would be considered a reserve expense. What are the GREY areas of maintenance items that are often seen in a Reserve Study? One of the most popular questions revolves around major maintenance items, such as painting the buildings or seal coating the asphalt. You may hear from your accountant that since painting or seal coating is not replacing a capital item, then it cannot be considered a Reserve issue. However, it is the opinion of several major Reserve Study providers that these items are considered to be major expenses that occur on a cyclical basis. Therefore, it makes it very difficult to 3

6 ignore a major expense that meets the criteria to be considered a reserve component. Once explained in this context, many accountants tend to agree and will include any expenses, such as these examples, as a reserve component. What happens during the Property Inspection? The Property Inspection was conducted following a review of the documents that were established by the developer identifying all common area assets. In some cases, the Board of Directors at some point may have revised the documents. In either case, the most current set of documents was reviewed prior to inspecting the property. In addition, common area assets may have been reported to Complex Solutions by the client, or by other parties. Estimated life expectancies and life cycles are based upon conditions that were readily accessible and visible at the time of the inspection. We did not destroy any landscape work, building walls, or perform any methods of intrusive investigation during the inspection. In these cases, information may have been obtained by contacting the contractor or vendor that has worked on the property. What is the Financial Analysis? We projected the starting balance by taking the most recent balance statement, adding expected reserve contributions for the rest of the fiscal year, and subtracting any pending projects that will be paid for before the end of the current fiscal year. We compared this number to the ideal reserve balance and arrived at the percent funded level. Measures of strength are as follows: 0% - 30% Funded is considered to be a weak financial position. Associations that fall into this category are subject to special assessments and deferred maintenance, which could lead to lower property values. If the association is in this position, actions should be taken to improve the financial strength of the reserve fund. 31% - 69% Funded is considered a fair financial position. The majority of associations fall into this category. While this doesn t represent financial strength and stability, the likelihood of special assessments and deferred maintenance is diminished. Effort should be taken to continue strengthening the financial position of the reserve fund. 70% - 99% Funded is considered a strong financial position. This indicates financial strength of a reserve fund and every attempt to maintain this level should be a goal of the association. 100% Funded is considered an ideal financial position. This means that the association has the exact amount of funds in the reserve account. 4

7 Funding Summary Beginning Assumptions # of units 121 Fiscal Year End 31-Dec Budgeted Monthly Reserve Allocation $0 Projected Starting Reserve Balance $232,117 Ideal Starting Reserve Balance $354,230 Economic Assumptions Projected Inflation Rate 3.00% Reported After-Tax Interest Rate 2.00% Current Reserve Status Current Balance as a % of Ideal Balance 66% Recommendations Recommended Monthly Reserve Allocation $11,000 Per Unit $90.91 Future Annual Increases 3.00% For number of years: 30 Increases thereafter: 0.00% Minimum Recommended Monthly Reserve Allocation $10,000 Per Unit $82.64 Future Annual Increases 3.00% For number of years: 30 Increases thereafter: 0.00% Changes From Prior Year Recommended Increase to Reserve Allocation $11,000 as Percentage 0% Minimum Recommended Increase to Reserve Allocation $10,000 as Percentage 0% 5

8 Percent Funded - Graph 120% 100% 80% % Level of Funding 60% 40% 20% 0% Recommended Current Minimum 6

9 Category ID # Component Name Component Inventory Useful Life (yrs.) Remaining Useful Life Best Cost (yrs.) Worst Cost Roofing 104 Flat Roof - TPO - Replace $135,375 $149,625 Painted Surfaces 201 Stucco Surfaces - Repaint 12 9 $53,130 $71, Metal Fencing - Repaint 5 2 $1,305 $1, Interior Surfaces - Repaint 10 7 $41,243 $60, Balcony, Garage & Stair Railing - Repaint 6 3 $25,060 $32,220 Siding Materials 304 Metal Siding - Replace N/A $0 $0 390 Brick & Stone Block Siding - Replace N/A $0 $0 390 Tile Siding - Replace $46,500 $62,000 Drive Materials 403 Concrete - Repair/Replace 10 7 $5,000 $10, Brick & Concrete Pavers - Repair/Replac 10 7 $4,000 $6,000 Property Access 502 Garage Door - Replace 10 7 $6,000 $8, Dumpster Area Door - Replace $800 $1, Phone Entry System - Replace 12 9 $4,500 $6,500 Decking 603 Pli-Dek Deck - Reseal 5 2 $42,900 $71, Pli-Dek Deck - Resurface $107,250 $128,700 Mechanical Equip. 702 Boilers - Replace $78,000 $93, HVAC Rooftop Unit - Replace $28,000 $38, Elevator - Modernize $100,000 $160, Elevator Cab - Remodel $4,000 $6, Emergency Generator - Replace $27,000 $32, Chiller System - Replace $100,000 $120, Exhaust Fans - Replace N/A $0 $0 714 Garage Exhaust Fan - Replace N/A $0 $0 715 Boiler & Chiller Pumps - Replace $27,000 $72, Satellite Television Equipment - Replace N/A $0 $0 790 Hot Water Expansion Tanks - Replace $3,000 $4, Hot Water Storage Tank - Replace $45,000 $60, HVAC Fan Coil Units - Replace $243,000 $445, HVAC System - Elevator Room - Replace12 9 $1,500 $2, Trash Chute Cleaning System - Replace N/A $0 $0 790 Ventilation System Controller - Replace $1,750 $2, VFD Controllers - Replace $3,000 $6, Wall & Hanging Heater - Replace N/A $0 $0 790 Water Softener System - Replace $70,000 $90,000 Prop. Identification 801 Building Sign - Replace N/A $0 $0 803 Mailboxes - Replace $9,450 $10,850 Life / Safety 901 Fire Protection System - Renovate $25,000 $35, Security Camera System - Replace 10 7 $15,000 $20, Air Testers - Replace 10 7 $4,800 $5,600 Fencing 1002 Metal Fencing - Replace $5,800 $7,250 7

10 Category ID # Component Name Useful Life (yrs.) Remaining Useful Life Best Cost (yrs.) Worst Cost Fencing 1003 Chain Link Fencing - Replace N/A $0 $ Balcony, Garage & Stair Railing - Replac $89,500 $125,300 Pool/Spa 1102 Spa - Resurface 6 3 $2,250 $2, Spa Heater - Replace 8 5 $3,500 $4, Spa Filter - Replace 12 9 $900 $1, Spa Pumps - Replace 3 1 $1,000 $1, Spa Chlorination System - Replace 8 5 $2,250 $2, Spa Cover - Replace N/A $0 $ Spa Water Level Controller - Replace $400 $600 Recreation Equip Drinking Fountain - Replace 9 6 $1,400 $1, Barbecue Grill - Replace 7 4 $500 $1, Picnic Table - Replace 8 5 $700 $ Bench - Replace 10 7 $1,000 $1, Barbecue Grill Station - Replace N/A $0 $ Wall Mirror - Replace 12 9 $2,750 $3,250 Interiors 1405 Furniture - Replace 10 7 $6,000 $8, Fitness Equipment - Replace $6,500 $8, Cardio Equipment - Replace 7 4 $8,000 $10, Restroom - Remodel $12,000 $16, Kitchenette - Remodel $3,000 $5, Office Equipment - Replace 6 3 $1,250 $1, Bose Speaker System - Replace 12 9 $1,000 $1, Flat Panel Television - Replace 10 7 $800 $1, Wallpaper - Replace 12 9 $4,650 $5,813 Flooring 1501 Carpeting - Replace 8 5 $57,150 $64, Floor & Wall Tile - Replace $21,120 $26,400 Light Fixtures 1601 Interior Lights - Replace $26,750 $53, Exterior Lights - Replace $38,250 $63, Landscaping Lights - Replace N/A $0 $ Pole Light Fixtures - Replace $1,500 $2, Bollard Lights - Replace $7,150 $8,450 Landscaping 1812 Landscaping - Renovate $6,500 $9, Concrete & Concrete Block Planter - ReplN/A $0 $0 8

11 Significant Components ID # Component Name Useful Life (yrs.) Remaining Useful Life (yrs.) Average Current Cost Significance: (Curr Cost/UL) As $ As % 104 Flat Roof - TPO - Replace $142,500 $5, % 201 Stucco Surfaces - Repaint 12 9 $62,370 $5, % 207 Metal Fencing - Repaint 5 2 $1,450 $ % 216 Interior Surfaces - Repaint 10 7 $50,760 $5, % 219 Balcony, Garage & Stair Railing - Repai 6 3 $28,640 $4, % 390 Tile Siding - Replace $54,250 $1, % 403 Concrete - Repair/Replace 10 7 $7,500 $ % 404 Brick & Concrete Pavers - Repair/Repla 10 7 $5,000 $ % 502 Garage Door - Replace 10 7 $7,000 $ % 503 Dumpster Area Door - Replace $1,000 $ % 506 Phone Entry System - Replace 12 9 $5,500 $ % 603 Pli-Dek Deck - Reseal 5 2 $57,200 $11, % 604 Pli-Dek Deck - Resurface $117,975 $5, % 702 Boilers - Replace $85,500 $4, % 706 HVAC Rooftop Unit - Replace $33,000 $1, % 707 Elevator - Modernize $130,000 $4, % 709 Elevator Cab - Remodel $5,000 $ % 710 Emergency Generator - Replace $29,500 $1, % 711 Chiller System - Replace $110,000 $4, % 715 Boiler & Chiller Pumps - Replace $49,500 $3, % 790 Hot Water Expansion Tanks - Replace $3,500 $ % 790 Hot Water Storage Tank - Replace $52,500 $1, % 790 HVAC Fan Coil Units - Replace $344,250 $19, % 790 HVAC System - Elevator Room - Replac 12 9 $1,750 $ % 790 Ventilation System Controller - Replace $2,000 $ % 790 VFD Controllers - Replace $4,500 $ % 790 Water Softener System - Replace $80,000 $4, % 803 Mailboxes - Replace $10,150 $ % 901 Fire Protection System - Renovate $30,000 $1, % 903 Security Camera System - Replace 10 7 $17,500 $1, % 990 Air Testers - Replace 10 7 $5,200 $ % 1002 Metal Fencing - Replace $6,525 $ % 1090 Balcony, Garage & Stair Railing - Repla $107,400 $4, % 1102 Spa - Resurface 6 3 $2,500 $ % 1105 Spa Heater - Replace 8 5 $3,750 $ % 1108 Spa Filter - Replace 12 9 $1,050 $ % 1110 Spa Pumps - Replace 3 1 $1,100 $ % 1111 Spa Chlorination System - Replace 8 5 $2,500 $ % 1190 Spa Water Level Controller - Replace $500 $ % 0282% 9

12 ID # Component Name Useful Life (yrs.) Remaining Useful Life (yrs.) Average Current Cost Significance: (Curr Cost/UL) As $ As % 1304 Drinking Fountain - Replace 9 6 $1,600 $ % 1305 Barbecue Grill - Replace 7 4 $750 $ % 1306 Picnic Table - Replace 8 5 $800 $ % 0846% 1307 Bench - Replace 10 7 $1,200 $ % 1390 Wall Mirror - Replace 12 9 $3,000 $ % 1405 Furniture - Replace 10 7 $7,000 $ % 1406 Fitness Equipment - Replace $7,500 $ % 1407 Cardio Equipment - Replace 7 4 $9,000 $1, % 1413 Restroom - Remodel $14,000 $ % 1417 Kitchenette - Remodel $4,000 $ % 1418 Office Equipment - Replace 6 3 $1,500 $ % 1419 Bose Speaker System - Replace 12 9 $1,125 $ % 1490 Flat Panel Television - Replace 10 7 $1,150 $ % 1490 Wallpaper - Replace 12 9 $5,231 $ % 1501 Carpeting - Replace 8 5 $60,960 $7, % 1503 Floor & Wall Tile - Replace $23,760 $ % 1601 Interior Lights - Replace $40,125 $2, % 1602 Exterior Lights - Replace $51,000 $3, % 1604 Pole Light Fixtures - Replace $2,000 $ % 1605 Bollard Lights - Replace $7,800 $ % 1812 Landscaping - Renovate $8,000 $ % 10

13 Significant Components - Graph 790 HVAC Fan Coil Units - Replace 603 Pli-Dek Deck - Reseal 1501 Carpeting - Replace 604 Pli-Dek Deck - Resurface All Other 16% 10% 63% 5% 6% ID # Component Name Useful Life Remaining Useful Life Average Current Significance: (Curr Cost/UL) (yrs.) (yrs.) Cost As $ As % 790 HVAC Fan Coil Units - Replace $344,250 $19,125 16% 603 Pli-Dek Deck - Reseal 5 2 $57,200 $11,440 10% 1501 Carpeting - Replace 8 5 $60,960 $7,620 6% 604 Pli-Dek Deck - Resurface $117,975 $5,899 5% All Other See Expanded Table For Breakdown $74,115 63% 11

14 Yearly Summary Year Fully Starting Percent Reserve Interest Reserve Funded Reserve Funded Contributions Income Expenses Balance Balance 2011 $354,230 $232,117 66% $132,000 $6,017 $ $486,602 $370,134 76% $135,960 $8,832 $1, $625,430 $513,793 82% $140,039 $11,156 $62, $709,264 $602,766 85% $144,240 $13,262 $35, $826,839 $724,601 88% $148,567 $16,002 $12, $976,091 $876,959 90% $153,024 $18,450 $78, $1,065,302 $969,590 91% $157,615 $21,142 $1, $1,240,663 $1,146,436 92% $162,343 $22,767 $199, $1,222,321 $1,132,233 93% $167,214 $24,541 $ $1,413,214 $1,323,988 94% $172,230 $26,978 $147, $1,463,045 $1,376,192 94% $177,397 $29,553 $1, $1,669,029 $1,581,664 95% $182,719 $33,633 $13, $1,873, $1,784,519 95% $188,200 $36,111 $179, $1,918,992 $1,829,684 95% $193,846 $36,784 $208, $1,940,696 $1,851,915 95% $199,662 $39,395 $ $2,183,067 $2,090,971 96% $205,652 $37,667 $655, $1,763,270 $1,678,985 95% $211,821 $36,009 $1, $2,009,715 $1,925,051 96% $218,176 $32,190 $878, $1,366,245 $1,296,788 95% $224,721 $28,275 $16, $1,597,398 $1,533, % $231,463 $33,263 $1, $1,856,813 $1,795,982 97% $238,407 $38,657 $ $2,132,403 $2,073,046 97% $245,559 $40,929 $336, $2,076,662 $2,023,423 97% $252,926 $34,563 $875, $1,470,950 $1,435,875 98% $260,513 $31,611 $ $1,755,352 $1,728,000 98% $268,329 $37,554 $3, $2,052,145, $2,030,630, 99% $276,379 $43,547 $22, $2,345,217 $2,327,838 99% $284,670 $49,859 $ $2,678,128 $2,662,367 99% $293,210 $44,937 $1,165, $1,828,633 $1,835, % $302,006 $40,065 $2, $2,159,443 $2,174, % $311,067 $43,687 $331,828 12

15 Reserve Contributions - Graph Monthly Reserve Contributions $30,000 $25,000 $20,000 $15,000 $10,000 $5,000 $ Year Recommended Minimum 13

16 Component Funding Information ID Component Name Quantity Average Ideal Current Fund Current Balance Balance Cost Monthly 104 Flat Roof - TPO - Replace Approx 28,500 Sq.ft. $142,500 $17,100 $0 $ Stucco Surfaces - Repaint 12 9 Approx 46,200 Sq.ft. $62,370 $15,593 $15,593 $ Metal Fencing - Repaint 5 2 Approx 145 Linear ft. $1,450 $870 $870 $ Interior Surfaces - Repaint 10 7 Approx 63,450 Sq.ft. $50,760 $15,228 $15,228 $ Balcony, Garage & Stair Railing - Repaint 6 3 Approx 3,580 Linear ft. $28,640 $14,320 $14,320 $ Tile Siding - Replace Approx 3,100 Sq.ft. $54,250 $5,425 $0 $ Concrete - Repair/Replace 10 7 Extensive Sq.ft. $7,500 $2,250 $2,250 $ Brick & Concrete Pavers - Repair/Replace 10 7 Approx 3,200 Sq.ft. $5,000 $1,500 $1,500 $ Garage Door - Replace 10 7 (1) Roll-up Garage Door $7,000 $2,100 $2,100 $65.14 UL RUL 503 Dumpster Area Door - Replace (1) Metal Roll-up Door $1,000 $120 $0 $ Phone Entry System - Replace 12 9 (1) System $5,500 $1,375 $1,375 $ Pli-Dek Deck - Reseal 5 2 Approx 14,300 Sq.ft. $57,200 $34,320 $34,320 $1, Pli-Dek Deck - Resurface Approx 14,300 Sq.ft. $117,975 $17,696 $7,513 $ Boilers - Replace (3) Boilers $85,500 $12,825 $0 $ HVAC Rooftop Unit - Replace (2) Units $33,000 $4,950 $0 $ Elevator - Modernize (2) Elevators $130,000 $13,000 $0 $ Elevator Cab - Remodel (2) Cabs $5,000 $1,000 $1,000 $ Emergency Generator - Replace (1) Generator $29,500 $3,540 $0 $ Chiller System - Replace (1) System $110,000 $13,200 $0 $ Boiler & Chiller Pumps - Replace (9) Pumps $49,500 $9, $9, $ Hot Water Expansion Tanks - Replace (2) Tanks $3,500 $350 $0 $ Hot Water Storage Tank - Replace (3) Tanks $52,500 $5,250 $0 $ HVAC Fan Coil Units - Replace (162) Units $344,250 $57,375 $57,375 $1, HVAC System - Elevator Room - Replace 12 9 (1) System $1,750 $438 $438 $ Ventilation System Controller - Replace (1) System $2,000 $300 $0 $ VFD Controllers - Replace (4) Controllers $4,500 $900 $900 $ Water Softener System - Replace (1) System $80,000 $12,000 $0 $ Mailboxes - Replace (7) Clusters $10,150 $1,523 $0 $ Fire Protection System - Renovate (1) System $30,000 $4,500 $0 $ Security Camera System - Replace 10 7 (1) 16-camera System $17,500 $5,250 $5,250 $

17 ID Component Name U L RU L Quantity Average Current Cost Ideal Balance Current Fund Balance Monthly 990 Air Testers - Replace 10 7 (4) Air Testers $5,200 $1,560 $1,560 $ Metal Fencing - Replace Approx 145 Linear ft. $6,525 $783 $0 $ Balcony, Garage & Stair Railing - Replace Approx 3,580 Linear ft. $107,400 $12,888 $0 $ Spa - Resurface 6 3 (1) Spa $2,500 $1,250 $1,250 $ Spa Heater - Replace 8 5 (1) Heater $3,750 $1,406 $1,406 $ Spa Filter - Replace 12 9 (1) Filter $1,050 $263 $263 $ Spa Pumps - Replace 3 1 (3) Pumps $1,100 $733 $733 $ Spa Chlorination System - Replace 8 5 (1) System $2,500 $938 $938 $ Spa Water Level Controller - Replace (1) Controller $500 $100 $100 $ Drinking Fountain - Replace 9 6 (2) Fountains $1,600 $533 $533 $ Barbecue Grill - Replace 7 4 (1) Barbecue Grill $750 $321 $321 $ Picnic Table - Replace 8 5 (1) Table $800 $300 $300 $ Bench - Replace 10 7 (2) Bench $1,200 $360 $360 $ Wall Mirror - Replace 12 9 Approx 250 Sq.ft. $3,000 $750 $750 $ Furniture - Replace 10 7 (53) Pieces $7,000 $2,100 $2,100 $ Fitness Equipment - Replace (4) Pieces $7,500 $1,500 $1,500 $ Cardio Equipment - Replace 7 4 (4) Pieces $9,000 $3,857 $3,857 $ Restroom - Remodel (2) Restrooms $14,000 $2,625 $2,625 $ Kitchenette - Remodel (1) Kitchenette $4,000 $600 $0 $ Office Equipment - Replace 6 3 (3) Pieces $1,500 $750 $750 $ Bose Speaker System - Replace 12 9 (1) 10-speaker System $1,125 $281 $281 $ Flat Panel Television - Replace 10 7 (2) Televisions $1,150 $345 $345 $ Wallpaper - Replace 12 9 Approx 1,550 Sq.ft. $5,231 $1,308 $1,308 $ Carpeting - Replace 8 5 Approx 15,240 Sq.ft. $60,960 $22,860 $22,860 $ Floor & Wall Tile - Replace Approx 1,760 Sq.ft. $23,760 $2,376 $0 $ Interior Lights - Replace (535) Lights $40,125 $6,688 $6,688 $ Exterior Lights - Replace (255) Lights $51,000 $9,563 $9,563 $ Pole Light Fixtures - Replace (2) 2-Light Fixtures $2,000 $333 $333 $ Bollard Lights - Replace (13) Lights $7,800 $1,463 $1,463 $ Landscaping - Renovate Approx 19,300 Sq.ft. $8,000 $1,200 $0 $37.23 $1,911,821 $354,230 $232,117 $11, Current Fund Balance as a percentage of Ideal Balance: 66% 15

18 Yearly Cash Flow Year Starting Balance $232,117 $370,134 $513,793 $602,766 $724,601 Reserve Income $132,000 $135,960 $140,039 $144,240 $148,567 Interest Earnings $6,017 $8,832 $11,156 $13,262 $16,002 Special Assessments $0 $0 $0 $0 $0 Funds Available $370,134 $514,926 $664,988 $760,268 $889,170 Reserve Expenditures $0 $1,133 $62,222 $35,667 $12,212 Ending Balance $370,134 $513,793 $602,766 $724,601 $876,959 Year Starting Balance $876,959 $969,590 $1,146,436 $1,132,233 $1,323,988 Reserve Income $153,024 $157,615 $162,343 $167,214 $172,230 Interest Earnings $18,450 $21,142 $22,767 $24,541 $26,978 Special Assessments $0 $0 $0 $0 $0 Funds Available $1,048,432 $1,148,347 $1,331,547 $1,323,988 $1,523,196 Reserve Expenditures $78,842 $1,910 $199,313 $0 $147,004 Ending Balance $969,590 $1,146,436 $1,132,233 $1,323,988 $1,376,192 Year Starting Balance $1,376,192 $1,581,664 $1,784,519 $1,829,684 $1,851,915 Reserve Income $177,397 $182,719 $188,200 $193,846 $199,662 Interest Earnings $29,553 $33,633 $36,111 $36,784 $39,395 Special Assessments $0 $0 $0 $0 $0 Funds Available $1,583,142 $1,798,016 $2,008,831 $2,060,314 $2,090,971 Reserve Expenditures $1,478 $13,496 $179,147 $208,400 $0 Ending Balance $1,581,664 $1,784,519 $1,829,684 $1,851,915 $2,090,971 Year Starting Balance $2,090,971 $1,678,985 $1,925,051 $1,296,788 $1,533,186 Reserve Income $205,652 $211,821 $218,176 $224,721 $231,463 Interest Earnings $37,667 $36,009 $32,190 $28,275 $33,263 Special Assessments $0 $0 $0 $0 $0 Funds Available $2,334,290 $1,926,816 $2,175,417 $1,549,784 $1,797,911 Reserve Expenditures $655,304 $1,765 $878,629 $16,599 $1,929 Ending Balance $1,678,985 $1,925,051 $1,296,788 $1,533,186 $1,795,982 Year Starting Balance $1,795,982 $2,073,046 $2,023,423 $1,435,875 $1,728,000 Reserve Income $238,407 $245,559 $252,926 $260,513 $268,329 Interest Earnings $38,657 $40,929 $34,563 $31,611 $37,554 Special Assessments $0 $0 $0 $0 $0 Funds Available $2,073,046 $2,359,534 $2,310,912 $1,728,000 $2,033,883 Reserve Expenditures $0 $336,111 $875,037 $0 $3,252 Ending Balance $2,073, $2,023,423 $1,435,875 $1,728,000 $2,030,630 Year Starting Balance $2,030,630 $2,327,838 $2,662,367 $1,835,204 $2,174,758 Reserve Income $276,379 $284,670 $293,210 $302,006 $311,067 Interest Earnings $43,547 $49,859 $44,937 $40,065 $43,687 Special Assessments $0 $0 $0 $0 $0 Funds Available $2,350,556 $2,662,367 $3,000,514 $2,177,275 $2,529,511 Reserve Expenditures $22,717 $0 $1,165, $2,517 $331,828 Ending Balance $2,327,838 $2,662,367 $1,835,204 $2,174,758 $2,197,684 16

19 Yearly Reserve Expenditures - Graph $1,200,000 $1,000,000 $800,000 Annual Totals $600,000 $400,000 $200,000 $ Year 17

20 Projected Reserve Expenditures by Year Year ID # Component Name Projected Total Per Cost Annum 2011 No Expenditures Projected $ Spa Pumps - Replace $1,133 $1, Metal Fencing - Repaint $1, Pli-Dek Deck - Reseal $60,683 $62, Balcony, Garage & Stair Railing - Repaint $31, Spa - Resurface $2, Office Equipment - Replace $1,639 $35, Spa Pumps - Replace $1, Barbecue Grill - Replace $ Cardio Equipment - Replace $10,130 $12, Spa Heater - Replace $4, Spa Chlorination System - Replace $2, Picnic Table - Replace $ Carpeting - Replace $70,669 $78, Drinking Fountain - Replace $1,910 $1, Metal Fencing - Repaint $1, Interior Surfaces - Repaint $62, Concrete - Repair/Replace $9, Brick & Concrete Pavers - Repair/Replace $6, Garage Door - Replace $8, Pli-Dek Deck - Reseal $70, Security Camera System - Replace $21, Air Testers - Replace $6, Spa Pumps - Replace $1, Bench - Replace $1, Furniture - Replace $8, Flat Panel Television - Replace $1,414 $199, No Expenditures Projected $ Stucco Surfaces - Repaint $81, Balcony, Garage & Stair Railing - Repaint $37, Phone Entry System - Replace $7, HVAC System - Elevator Room - Replace $2, Spa - Resurface $3, Spa Filter - Replace $1, Wall Mirror - Replace $3, Office Equipment - Replace $1, Bose Speaker System - Replace $1, Wallpaper - Replace $6,826 $147, Spa Pumps - Replace $1,478 $1, Barbecue Grill - Replace $1, Cardio Equipment - Replace $12,458 $13, Metal Fencing - Repaint $2, Pli-Dek Deck - Reseal $81, Elevator Cab - Remodel $7, Boiler & Chiller Pumps - Replace $70,575 18

21 Year Comp ID Component Name Projected Cost Total Per Annum 790 VFD Controllers - Replace $6, Spa Water Level Controller - Replace $ Fitness Equipment - Replace $10,693 $179, Spa Heater - Replace $5, Spa Pumps - Replace $1, Spa Chlorination System - Replace $3, Picnic Table - Replace $1, Restroom - Remodel $20, Carpeting - Replace $89, Exterior Lights - Replace $74, Bollard Lights - Replace $11,455 $208, No Expenditures Projected $ Balcony, Garage & Stair Railing - Repaint $44, HVAC Fan Coil Units - Replace $536, Spa - Resurface $3, Drinking Fountain - Replace $2, Office Equipment - Replace $2, Interior Lights - Replace $62, Pole Light Fixtures - Replace $3,116 $655, Spa Pumps - Replace $1,765 $1, Metal Fencing - Repaint $2, Interior Surfaces - Repaint $83, Concrete - Repair/Replace $12, Brick & Concrete Pavers - Repair/Replace $8, Garage Door - Replace $11, Pli-Dek Deck - Reseal $94, Pli-Dek Deck - Resurface $194, Boilers - Replace $141, HVAC Rooftop Unit - Replace $54, Ventilation System Controller - Replace $3, Water Softener System - Replace $132, Mailboxes - Replace $16, Fire Protection System - Renovate $49, Security Camera System - Replace $28, Air Testers - Replace $8, Bench - Replace $1, Furniture - Replace $11, Kitchenette - Remodel $6, Flat Panel Television - Replace $1, Landscaping - Renovate $13,223 $878, Barbecue Grill - Replace $1, Cardio Equipment - Replace $15,322 $16, Spa Pumps - Replace $1,929 $1, No Expenditures Projected $ Stucco Surfaces - Repaint $116, Balcony, Garage & Stair Railing - Repaint $53, Phone Entry System - Replace $10,232 19

22 Year Comp ID Component Name Projected Cost Total Per Annum 790 HVAC System - Elevator Room - Replace $3, Spa - Resurface $4, Spa Heater - Replace $6, Spa Filter - Replace $1, Spa Chlorination System - Replace $4, Picnic Table - Replace $1, Wall Mirror - Replace $5, Office Equipment - Replace $2, Bose Speaker System - Replace $2, Wallpaper - Replace $9, Carpeting - Replace $113,404 $336, Flat Roof - TPO - Replace $273, Metal Fencing - Repaint $2, Dumpster Area Door - Replace $1, Pli-Dek Deck - Reseal $109, Emergency Generator - Replace $56, Chiller System - Replace $210, Metal Fencing - Replace $12, Balcony, Garage & Stair Railing - Replace $205, Spa Pumps - Replace $2,108 $875, No Expenditures Projected $ Drinking Fountain - Replace $3,252 $3, Spa Pumps - Replace $2, Barbecue Grill - Replace $1, Cardio Equipment - Replace $18,844 $22, No Expenditures Projected $ Metal Fencing - Repaint $3, Interior Surfaces - Repaint $112, Balcony, Garage & Stair Railing - Repaint $63, Tile Siding - Replace $120, Concrete - Repair/Replace $16, Brick & Concrete Pavers - Repair/Replace $11, Garage Door - Replace $15, Pli-Dek Deck - Reseal $127, Elevator - Modernize $288, Elevator Cab - Remodel $11, Boiler & Chiller Pumps - Replace $109, Hot Water Expansion Tanks - Replace $7, Hot Water Storage Tank - Replace $116, VFD Controllers - Replace $9, Security Camera System - Replace $38, Air Testers - Replace $11, Spa - Resurface $5, Spa Water Level Controller - Replace $1, Bench - Replace $2, Furniture - Replace $15, Fitness Equipment - Replace $16,660 20

23 Year Comp ID Component Name Projected Cost Total Per Annum 1418 Office Equipment - Replace $3, Flat Panel Television - Replace $2, Floor & Wall Tile - Replace $52,778 $1,165, Spa Pumps - Replace $2,517 $2, Spa Heater - Replace $8, Spa Chlorination System - Replace $5, Picnic Table - Replace $1, Restroom - Remodel $32, Carpeting - Replace $143, Exterior Lights - Replace $120, Bollard Lights - Replace $18,381 $331, No Expenditures Projected $0 21

24 Component Evaluation Comp #: 104 Flat Roof - TPO - Replace Building Roof Approx 28,500 Sq.ft. Life Expectancy: 25 Remaining Life: 22 Best Cost: $135,375 $4.75/Sq.ft.; Estimate to replace Worst Cost: $149,625 $5.25/Sq.ft.; Higher estimate Source of Information: CSL Cost Database The TPO roof is in good condition. The roof should be inspected and cleaned yearly to prevent damage and to ensure a full life from this component. This component has a useful life of approximately 25 years. Remaining life based on current age. Page 1 of 73

25 Comp #: 201 Stucco Surfaces - Repaint Building Exterior Approx 46,200 Sq.ft. Life Expectancy: 12 Remaining Life: 9 Best Cost: $53,130 $1.15/Sq.ft.; Estimate to repaint stucco surfaces Worst Cost: $71,610 $1.55/Sq.ft.; Higher estimate for more prep costs Source of Information: CSL Cost Database Painted stucco surfaces are in good condition. Stucco surfaces should typically be repainted approximately every 10 to 12 years to protect the stucco surface and maintain appearance. Remaining life based on current age. Page 2 of 73

26 Comp #: 207 Metal Fencing - Repaint Spa & Utility Fencing Approx 145 Linear ft. Quantity description: Life Expectancy: 5 Remaining Life: 2 Best Cost: $1,305 $9.00/Linear ft.; Estimate to repaint iron fence 35 Linear ft. - Other Fence 110 Linear ft. - Spa Fence 145 Linear ft. - Total Worst Cost: $1,595 $11.00/Linear ft; Higher estimate for additional prep work Source of Information: CSL Cost Database Painted metal fencing surfaces are in good to fair condition. Minor areas of rust and paint loss were noted during the inspection. Repaint this component approximately every 5 years to maintain appearance and protect metal surfaces. Remaining life based on current age and condition. Page 3 of 73

27 Comp #: 216 Interior Surfaces - Repaint Building Interior Approx 63,450 Sq.ft. Quantity description: Life Expectancy: 10 Remaining Life: 7 Best Cost: $41,243 $.65/Sq.ft.; Estimate to repaint Worst Cost: $60,278 $.95/Sq.ft.; Higher estimate Source of Information: CSL Cost Database 1,300 Sq.ft. - Club Room 400 Sq.ft. - Fitness Room 450 Sq.ft. - Floor 2 & Stairs up to 3 12,000 Sq.ft. - Floors 3 46,000 Sq.ft. - (4) 11,500 Sq.ft. - Floors 7, 6, 5, 4 2,100 Sq.ft. - Garage 800 Sq.ft. - Lobby 400 Sq.ft. - Office 63,450 Sq.ft. - Total Interior painted surfaces are generally in good condition. Some local marking noted but no significant appearance concerns observed. Expect to repaint these surfaces approximately every 10 years to maintain appearance. Remaining life based on current age. Page 4 of 73

28 Comp #: 219 Balcony, Garage & Stair Railing - Repaint Building Exterior & Interior Stairwells Approx 3,580 Linear ft. Quantity description: Life Expectancy: 6 Remaining Life: 3 Best Cost: $25,060 $7.00/Linear ft.; Estimate to repaint 2,700 Linear ft. - Balconies 180 Linear ft. - Garage "Windows" 700 Linear ft. - Stair 3,580 Linear ft. - Total Worst Cost: $32,220 $9.00/Linear ft; Higher estimate for additional prep work Source of Information: CSL Cost Database Painted metal surfaces are in good condition. Repaint this component approximately every 6 years to maintain appearance and protect metal surfaces. Remaining life based on current age. Page 5 of 73

29 Comp #: 304 Metal Siding - Replace Building Exterior Approx 12,400 Sq.ft. Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 Source of Information: Metal siding is in good condition. Due to the extended life associated with this component reserve funding is not appropriate. We recommend making local repairs as necessary as an operating expense. No reserve funding necessary. Page 6 of 73

30 Comp #: 390 Brick & Stone Block Siding - Replace Building Exterior Approx 8,900 Sq.ft. Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 Source of Information: Brick and stone block siding is in good condition. No expectation to replace this type of siding under normal circumstances. We recommend making local repairs as necessary as an operating expense. No reserve funding necessary. Page 7 of 73

31 Comp #: 390 Tile Siding - Replace Building Exterior Approx 3,100 Sq.ft. Life Expectancy: 30 Remaining Life: 27 Best Cost: $46,500 $15/Sq.ft.; Estimate to replace Worst Cost: $62,000 $20/Sq.ft.; Higher estimate Source of Information: Tile siding is in good condition. No problems noted at the time of inspection. Although this component may reach an extended life we recommend funding to replace the tile approximately every 30 years to ensure appearance and keep up with current decorative tastes. Remaining life based on current age. Page 8 of 73

32 Comp #: 403 Concrete - Repair/Replace Common Areas Extensive Sq.ft. Life Expectancy: 10 Remaining Life: 7 Best Cost: $5,000 Allowance to make repairs/replacements Worst Cost: $10,000 Higher allowance for more repairs/replacements Source of Information: CSL Cost Database Concrete is generally in good condition. No expectation to completely replace the concrete surfaces. We recommend making local repairs as necessary as an operating expense and funding to make more significant repairs approximately every 10 years. Page 9 of 73

33 Comp #: 404 Brick & Concrete Pavers - Repair/Replace Common Areas Approx 3,200 Sq.ft. Life Expectancy: 10 Remaining Life: 7 Best Cost: $4,000 Allowance to repair/replace Worst Cost: $6,000 Higher allowance for more repairs/replacements Source of Information: CSL Cost Database Brick and concrete pavers are generally in good condition. No broken pavers noted and no settling or uneven areas observed at the time of inspection. No expectation to completely replace pavers. We recommend making local repairs as necessary as an operating expense and funding to make more significant repairs approximately every 10 years. Page 10 of 73

34 Comp #: 502 Garage Door - Replace Parking Garage Entrance (1) Roll-up Garage Door Life Expectancy: 10 Remaining Life: 7 Best Cost: $6,000 Estimate to replace garage door Worst Cost: $8,000 Higher estimate for more installation costs Source of Information: CSL Cost Database The garage door is in good condition. We recommend funding to replace the fabric portion of this door approximately every 10 years to maintain appearance and to ensure proper function. Perform regular maintenance and repairs as necessary as an operating expense. Remaining life based on current age. Page 11 of 73

35 Comp #: 503 Dumpster Area Door - Replace Dumpster Area Entrance (1) Metal Roll-up Door Life Expectancy: 25 Remaining Life: 22 Best Cost: $800 Estimate to replace door Worst Cost: $1,200 Higher estimate for more installation costs Source of Information: CSL Cost Database The dumpster area door is in good condition. We recommend funding to replace this door approximately every 25 years to maintain appearance and to ensure proper function. Perform regular maintenance and repairs as necessary as an operating expense. Remaining life based on current age. Page 12 of 73

36 Comp #: 506 Phone Entry System - Replace Building & Garage Entrances (1) System Quantity description: Life Expectancy: 12 Remaining Life: 9 Best Cost: $4,500 Estimate to replace system HID Passport Plus System (2) - Linear Call Boxes (11) - Proximity Readers Worst Cost: $6,500 Higher estimate for more installation costs Source of Information: CSL Cost Database Card and phone entry system is in good condition. No problems noted or reported at the time of inspection. System was observed to be functioning normally. This type of system has a typical life expectancy of approximately 12 years. Remaining life based on current age. Page 13 of 73

37 Comp #: 603 Pli-Dek Deck - Reseal Unit Balconies & Plaza Area Concrete Approx 14,300 Sq.ft. Life Expectancy: 5 Remaining Life: 2 Best Cost: $42,900 $3.00/Sq.ft.; Estimate to reseal Worst Cost: $71,500 $5.00/Sq.ft.; Higher estimate for more prep work Source of Information: Research with local vendor Pli-Dek surfaces are in good condition. The plaza area surfaces have some minor cracking that will need to be addressed this fiscal year (FY 2011). Research with the supplier reveals that this component should be resealed approximately every 5 years to protect surfaces and prevent premature deck resurfacing (see Comp# 604 Pli-Dek Deck - Resurface). Remaining life based on current age. Page 14 of 73

38 Comp #: 604 Pli-Dek Deck - Resurface Unit Balconies & Plaza Area Concrete Approx 14,300 Sq.ft. Life Expectancy: 20 Remaining Life: 17 Best Cost: $107,250 $7.50/Sq.ft.; Estimate to reseal Worst Cost: $128,700 $9.00/Sq.ft.; Higher estimate for more prep work Source of Information: Research with local vendor Pli-Dek surfaces are in good condition. The plaza area surfaces have some minor cracking that will need to be addressed this fiscal year (FY 2011). Research with the supplier reveals that this component should be resurfaced approximately every years. Seal this component approximately every 5 years (see Comp# 603 Pli-Dek Deck - Reseal) to protect deck surface and prevent premature deck resurfacing. Remaining life based on current age. Page 15 of 73

39 Comp #: 702 Boilers - Replace Building Garage Boiler Room (3) Boilers Description: Life Expectancy: 20 Remaining Life: 17 (3) - Lochinvar Power Fin, PFN2000PM Best Cost: $78,000 $26,000/Boiler; Estimate to replace boiler Worst Cost: $93,000 $31,000/Boiler; Higher estimate for more installation cost Source of Information: Research with local vendor The boilers are in good condition. No problems noted or reported during the inspection. Expect a typical useful life of approximately 20 years from this component. Remaining life based on current age. Page 16 of 73

40 Comp #: 706 HVAC Rooftop Unit - Replace Building Roof (2) Units Quantity description: Life Expectancy: 20 Remaining Life: 17 (2) Reznor Preeva, RDH350-H-S Best Cost: $28,000 $15,000/Unit; Estimate to replace Worst Cost: $38,000 $20,000/Unit; Higher estimate for more installation costs Source of Information: Research with local vendor Roof top units are in good condition. No problems were noted or reported at the time of inspection. Expect a useful life of approximately 20 years from this component. Remaining life based on current age. Page 17 of 73

41 Comp #: 707 Elevator - Modernize Building Interior (2) Elevators Quantity description: Life Expectancy: 30 Remaining Life: 27 Best Cost: $100,000 Estimate to modernize elevator (1) - Kone 4000lb (1) - Kone 2500lb (2) - Total Worst Cost: $160,000 Higher estimate for more upgrades Source of Information: CSL Cost Database Elevators are in good condition. No problems noted or reported at the time of the inspection. We recommend funding to make significant upgrades and replacements to elevator controller and door packages approximately every 25 to 30 years. Remaining life based on current age. Page 18 of 73

42 Comp #: 709 Elevator Cab - Remodel Elevator Cab Interior (2) Cabs Quantity description: Life Expectancy: 15 Remaining Life: 12 Best Cost: $4,000 $2,000/Cab; Estimate to remodel cabs (1) - Kone 4000lb, 5.75 x 9.75 ft. (1) - Kone 2500lb, 4.75 x 6.75 ft. (2) - Total Worst Cost: $6,000 $3,000/Cab; Higher estimate for more extensive remodel Source of Information: CSL Cost Database Elevator cabs are in good condition. Clean the interior of the elevator cabs as an operating expense. Expect to remodel the cabs approximately every 15 years to maintain appearance and keep up with current decorative tastes. Remaining life based on current age. Page 19 of 73

43 Comp #: 710 Emergency Generator - Replace Generator Room (1) Generator Description: Life Expectancy: 25 Remaining Life: 22 Generac: Power Systems 130kw Generator Best Cost: $27,000 Estimate to replace generator Worst Cost: $32,000 Higher estimate for more replacement costs Source of Information: Research with manufacturer Emergency generator is in good condition. No problems noted or reported during the inspection. Due to minimal use this component has a relatively long life. However we recommend funding to replace this generator approximately every 25 years to ensure the availability of parts and to keep up with modern technology and emission requirements. Perform twice yearly maintenance and weekly exercise program to ensure full life from this component. Remaining life based on current age. Page 20 of 73

44 Comp #: 711 Chiller System - Replace Chiller Room (1) System Description: Life Expectancy: 25 Remaining Life: 22 Best Cost: $100,000 Estimate to replace chiller system (1) - Trane Series R Chiller Model RTAC 225A, UP0N UAFN L1TY 1DDN NN0E A11N R0EX N Worst Cost: $120,000 Higher estimate for more installation costs or higher efficiency Source of Information: Research with manufacturer The chiller system is in good condition. No problems were noted or reported during the inspection. Perform regular, professional maintenance to ensure a full useful life from this component. Research with the manufacturer reveals a useful life of approximately 25 years if properly maintained. Remaining life based on current age. Page 21 of 73

45 Comp #: 714 Exhaust Fans - Replace Building Roof & Hallways (18) Units Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 Source of Information: Due to the extended life associated with these fans, reserve funding is not appropriate. We recommend replacing motors and making repairs as necessary as an operating expense. No reserve funding necessary. Page 22 of 73

46 Comp #: 714 Garage Exhaust Fan - Replace Parking Garage (3) Fans Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 Source of Information: CSL Cost Database Due to the extended life associated with these fans, reserve funding is not appropriate. We recommend replacing motors and making repairs as necessary as an operating expense. No reserve funding necessary. Page 23 of 73

47 Comp #: 715 Boiler & Chiller Pumps - Replace Mechanical Rooms (9) Pumps Quantity description: Life Expectancy: 15 Remaining Life: 12 Best Cost: $27,000 $3,000/Pump; Estimate to replace Worst Cost: $72,000 $8,000/Pump; Higher estimate (2) - Boiler 7.5hp, Teco (3) - Boiler 3/4hp, Armstrong (1) - Boiler 3/4hp, Flo Fab (1) - Chiller 15hp, Flo Fab (2) - Chiller 10hp, Teco (9) - Total Source of Information: Research with local vendor The pumps are in good condition. No problems noted or reported during the inspection. Expect an average life of 10 to 15 years from these pumps. Replace motors as necessary as an operating expense to ensure full life. Remaining life based on current age. Page 24 of 73

48 Comp #: 718 Satellite Television Equipment - Replace Building Roof & Interior (1) System Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 Source of Information: The satellite television equipment is in good condition. Due to the extended life and minimal replacement cost of this equipment, reserve funding in not appropriate. Make repairs and upgrades to system as necessary as an operating expense. No reserve funding necessary. Page 25 of 73

49 Comp #: 790 Hot Water Expansion Tanks - Replace Boiler Room (2) Tanks Quantity description: Life Expectancy: 30 Remaining Life: 27 (2) - Aqua Profab 90 gal Best Cost: $3,000 $1,500/Tank; Estimate to replace Worst Cost: $4,000 $2,000/Tank; Higher estimate for more installation costs Source of Information: CSL Cost Database The hot water expansion tanks are in good condition. No problems noted or reported at the time of the inspection. Although these tanks may reach an extended life we recommend funding to replace them approximately every 30 years to ensure proper function. Remaining life based on current age. Page 26 of 73

50 Comp #: 790 Hot Water Storage Tank - Replace Boiler Room (3) Tanks Description: Life Expectancy: 30 Remaining Life: 27 (3) - Lochinvar RGA Best Cost: $45,000 $15,000/Tank; Estimate to replace Worst Cost: $60,000 $20,000/Tank; Higher estimate for more installation cost Source of Information: CSL Cost Database The hot water storage tanks are in good condition. No problems noted or reported at the time of the inspection. Although these tanks may reach an extended life we recommend funding to replace them approximately every 30 years to ensure proper function. Remaining life based on current age. Page 27 of 73

51 Comp #: 790 HVAC Fan Coil Units - Replace Building & Unit Interior (162) Units Quantity description: Life Expectancy: 18 Remaining Life: 15 Best Cost: $243,000 $1,500/Unit; Estimate to replace Worst Cost: $445,500 $2,750/Unit; Higher estimate for larger units and more installation costs Source of Information: CSL Cost Database Williams Comfort Products, H Series Fan Coil Air Handlers Breakdown by filter size: (1) - 10x28 (28) - 10x34 (58) - 12x34 (17) - 12x40 (58) - 12x46 (162) - Total Unable to inspect all units during the inspection. Research with the Manager reveals the units are in good condition and aging normally. Expect a useful life of approximately 16 to 18 years from this component. Remaining life based on current age. Page 28 of 73

52 Comp #: 790 HVAC System - Elevator Room - Replace Elevator Control Room (1) System Description: Life Expectancy: 12 Remaining Life: 9 Best Cost: $1,500 Estimate to replace LG Art Cool Model#: LAU121NHP Worst Cost: $2,000 Higher estimate for moer installation costs Source of Information: CSL Cost Database The HVAC system in the elevator room is in good condition. No problems noted or reported at the time of inspection. Expect a useful life of approximately 8 to 12 years from this component. Remaining life based on current age. Page 29 of 73

53 Comp #: 790 Trash Chute Cleaning System - Replace Trash Chute Room (1) System Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 Source of Information: The pipes and valves that make up this system have a minimal maintenance and replacement cost. We recommend making repairs as necessary as an operating expense. No reserve funding necessary. Page 30 of 73

54 Comp #: 790 Ventilation System Controller - Replace Boiler Room (1) System Description: Life Expectancy: 20 Remaining Life: 17 (1) - Exhausto EBC30 Best Cost: $1,750 Estimate to replace Worst Cost: $2,250 Higher estimate to replace Source of Information: Research with local vendor The ventilation system controller is in good condition. No problems noted or reported during the inspection. Research with the local supplier reveals this unit should have a useful life of 20 years. Remaining life based on current age. Page 31 of 73

55 Comp #: 790 VFD Controllers - Replace Boiler & Chiller Rooms (4) Controllers Description: Life Expectancy: 15 Remaining Life: 12 (4) - ABB VFD ACH550-UH Best Cost: $3,000 Estimate to replace Worst Cost: $6,000 Higher estimate Source of Information: Research with manufacturer The VFD Controllers are in good condition. No problems were noted or reported at the time of the inspection. We recommend funding to replace this component approximately every 15 years. Remaining life based on current age. Page 32 of 73

56 Comp #: 790 Wall & Hanging Heater - Replace Building Interior (7) Heaters Quantity description: Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 (1) - Boiler Room (1) - Lobby Entrance (1) - Spa Equipment Room (1) - Stairwell (3) - Storage Rooms (7) - Total Source of Information: Wall and hanging heaters are in good condition. Due to the minimal replacement cost associated with these heaters, reserve funding is not appropriate. Repair and replace heaters as necessary as an operating expense. No reserve funding necessary. Page 33 of 73

57 Comp #: 790 Water Softener System - Replace Building Interior (1) System Life Expectancy: 20 Remaining Life: 17 Best Cost: $70,000 Estimate to replace Worst Cost: $90,000 Higher estimate Source of Information: CSL Cost Database The water softener system is in good condition. No problems noted or reported at the time of the inspection. Maintain professionally and inspect regularly to ensure full life. Expect a useful life of approximately 20 years from this system. Remaining life based on current age. Page 34 of 73

58 Comp #: 801 Building Sign - Replace Above Building Entrance (1) Sign Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 Source of Information: Building sign is in good condition. Under normal conditions this sign should reach an extended useful life. No reserve funding necessary. Page 35 of 73

59 Comp #: 803 Mailboxes - Replace Mailbox Alcove (7) Clusters Quantity description: Life Expectancy: 20 Remaining Life: 17 Best Cost: $9,450 $1,350/Cluster; Estimate to replace mailbox clusters (1) 18-box, 2 parcel, 2 outgoing - Cluster (5) 20-box, 2 parcel, 1 outgoing - Cluster (1) 4-parcel - Cluster (7) - Total Clusters Worst Cost: $10,850 $1,550/Cluster; Higher estimate for more installation costs Source of Information: CSL Cost Database Mailboxes are in good condition. No marking or discoloration noted at the time of inspection. Expect to replace this component approximately every 18 to 20 years assuming normal use and wear. Remaining life based on current age. Page 36 of 73

60 Comp #: 901 Fire Protection System - Renovate Building Interior (1) System Description: Life Expectancy: 20 Remaining Life: 17 Best Cost: $25,000 Allowance to renovate system Simplex Grinnel 4100U Control Panel Worst Cost: $35,000 Higher allowance to renovate system Source of Information: Research with manufacturer Although the fire protection system is designed to last the life of the community we recommend funding for an allowance to renovate the alarm system approximately every 20 years to ensure proper function and to keep up with current technology and code requirements. Perform regular, professional inspections and repairs as an operating expense. Remaining life based on current age. Page 37 of 73

61 Comp #: 903 Security Camera System - Replace Building Interior & Exterior (1) 16-camera System Life Expectancy: 10 Remaining Life: 7 Best Cost: $15,000 Estimate to replace Worst Cost: $20,000 Higher estimate Source of Information: CSL Cost Database The security camera system is in good condition. No problems noted or reported at the time of the inspection. We recommend funding to replace this security camera system approximately every 10 years to ensure proper function and keep up with current technology. Remaining life based on current age. Page 38 of 73

62 Comp #: 990 Air Testers - Replace Parking Garage (4) Air Testers Description: Life Expectancy: 10 Remaining Life: 7 (4) - Air Test CT-1000 Best Cost: $4,800 $1,200/Tester; Estimate to replace Worst Cost: $5,600 $1,400/Tester; Higher estimate Source of Information: CSL Cost Database The air testers were in good condition. No problems noted or reported at the time of inspection. We recommend funding to replace these testers approximately every 10 years to ensure proper function and keep up with current technology. Remaining life based on current age. Page 39 of 73

63 Comp #: 1002 Metal Fencing - Replace Spa & Utility Fencing Approx 145 Linear ft. Quantity description: Life Expectancy: 25 Remaining Life: 22 Best Cost: $5,800 $40/Linear ft.; Estimate to replace fence 35 Linear ft. - Other Fence 110 Linear ft. - Spa Fence 145 Linear ft. - Total Worst Cost: $7,250 $50/Linear ft.; Higher estimate for more labor Source of Information: CSL Cost Database Metal fencing is in good condition. Minor areas of rust and paint loss were noted during the inspection. No structural problems noted at the time of inspection. With regular painting and maintenance, expect a useful life of 20 to 25 years from this component. Remaining life based on current age. Page 40 of 73

64 Comp #: 1003 Chain Link Fencing - Replace North of Building Approx 225 Linear ft. Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 Source of Information: Chain link fence is generally in good condition. No warped or broken areas noted. Due to the extended life associated with the component reserve funding is not appropriate. Make local repairs as necessary as an operating expense. Page 41 of 73

65 Comp #: 1090 Balcony, Garage & Stair Railing - Replace Building Exterior & Stairwells Approx 3,580 Linear ft. Quantity description: Life Expectancy: 25 Remaining Life: 22 Best Cost: $89,500 $25/Linear ft.; Estimate to replace railing 2,700 Linear ft. - Balconies 180 Linear ft. - Garage "Windows" 700 Linear ft. - Stair 3,580 Linear ft. - Total Worst Cost: $125,300 $35/Linear ft.; Higher estimate for more labor Source of Information: CSL Cost Database Metal railing is in good condition. No significant rusting or structural problems noted at the time of inspection. Maintain painting schedule to ensure full useful life (see Comp# 219 Balcony, Garage & Stair Railing - Repaint). Expect a useful life of 20 to 25 years from this component. Remaining life based on current age. Page 42 of 73

66 Comp #: 1102 Spa - Resurface 3rd Floor Plaza (1) Spa Life Expectancy: 6 Remaining Life: 3 Best Cost: $2,250 Estimate to resurface spa Worst Cost: $2,750 Higher estimate for local repairs Source of Information: CSL Cost Database Spa is in good condition. No problems noted at the time of inspection. Because entire spa surface experiences traffic wear expect to replaster spa approximately every 6 years. Remaining life based on current age. Page 43 of 73

67 Comp #: 1105 Spa Heater - Replace Spa Equipment Room (1) Heater Description: Life Expectancy: 8 Remaining Life: 5 Pentair MiniMax NT Best Cost: $3,500 Estimate to replace heater Worst Cost: $4,000 Higher estimate for more installation costs Source of Information: CSL Cost Database Spa heater is in good condition. No problems noted at the time of inspection. Because spa heaters have to maintain a higher water temperature they typically have a shorter life expectancy. We recommend funding to replace this heater approximately every 8 years. Remaining life is based on current age. Page 44 of 73

68 Comp #: 1108 Spa Filter - Replace Spa Equipment Room (1) Filter Description: Life Expectancy: 12 Remaining Life: 9 Pentair Clean and Clear Plus Cartridge Best Cost: $900 Estimate to replace filter Worst Cost: $1,200 Higher estimate for more installation costs Source of Information: CSL Cost Database Spa filter is in good condition. No problems noted at the time of inspection. We recommend funding to replace this filter approximately every 10 to 12 years. Remaining life is based on current age. Page 45 of 73

69 Comp #: 1110 Spa Pumps - Replace Spa Equipment Room (3) Pumps Quantity description: Life Expectancy: 3 Remaining Life: 1 Best Cost: $1,000 Estimate to replace one pump every three years (1) - WhisperFlo 3hp (1) - WhisperFlo 1 1/2hp (1) - WhisperFlo 3/4hp (3) - Total Worst Cost: $1,200 Higher estimate for more installation costs Source of Information: CSL Cost Database Spa pumps are in good condition. No expectation to replace all pumps at one time. We recommend funding to replace one pump approximately every three years. Replace motors as necessary as an operating expense. Page 46 of 73

70 Comp #: 1111 Spa Chlorination System - Replace Spa Equipment Room (1) System Description: Life Expectancy: 8 Remaining Life: 5 Polaris Watermatic C660 Best Cost: $2,250 Estimate to replace system Worst Cost: $2,750 Higher estimate for more installation costs Source of Information: CSL Cost Database The spa chlorination system is in good condition. We recommend funding to replace this system approximately every 8 years to ensure proper function and to keep up with current technology. Remaining life based on current age. Page 47 of 73

71 Comp #: 1113 Spa Cover - Replace 3rd Floor Plaza (1) Cover Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 Source of Information: Spa cover is in good condition. Due to the minimal cost associated with replacing this component, reserve funding is not appropriate. Replace cover as necessary as an operating expense. No reserve funding necessary. Page 48 of 73

72 Comp #: 1190 Spa Water Level Controller - Replace Spa Equipment Room (1) Controller Description: Life Expectancy: 15 Remaining Life: 12 Levolor Electronic Water Level Controller Best Cost: $400 Estimate to replace Worst Cost: $600 Higher estimate Source of Information: CSL Cost Database Spa water level controller is in good condition. No problems noted or reported at the time of inspection. This component has a life expectancy of approximately 15 Years. Remaining life based on current age. Page 49 of 73

73 Comp #: 1304 Drinking Fountain - Replace Fitness Room Hall (2) Fountains Life Expectancy: 9 Remaining Life: 6 Best Cost: $1,400 $700/Fountain; Estimate to replace drinking fountain Worst Cost: $1,800 $900/Fountain; Higher estimate for more installation costs Source of Information: CSL Cost Database Drinking fountains are in good condition. No corrosion or damage noted. No signs of significant wear. Expect to replace these fountains approximately every 9 years. Remaining life based on current age. Page 50 of 73

74 Comp #: 1305 Barbecue Grill - Replace Plaza (1) Barbecue Grill Life Expectancy: 7 Remaining Life: 4 Best Cost: $500 Estimate to replace barbecue grill Worst Cost: $1,000 Higher estimate for better quality Source of Information: CSL Cost Database Barbecue grill is in good condition. Expect to replace this component approximately every 7 years. Remaining life based on current age. Page 51 of 73

75 Comp #: 1306 Picnic Table - Replace Plaza (1) Table Life Expectancy: 8 Remaining Life: 5 Best Cost: $700 Estimate to replace picnic table Worst Cost: $900 Higher estimate Source of Information: CSL Cost Database Picnic table is in good condition. No appearance concerns noted at time of inspection. Expect to replace this picnic table approximately every 8 years to maintain appearance. Remaining life based on current age. Page 52 of 73

76 Comp #: 1307 Bench - Replace Plaza (2) Bench Life Expectancy: 10 Remaining Life: 7 Best Cost: $1,000 Estimate to replace benches Worst Cost: $1,400 Higher estimate Source of Information: CSL Cost Database The benches are in good condition. No appearance concerns noted at the time of inspection. Expect a useful life of approximately 10 years from this component. Remaining life based on current age. Page 53 of 73

77 Comp #: 1390 Barbecue Grill Station - Replace Plaza (1) Grill Station Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 Source of Information: Barbecue grill station is in good condition. Due to extended useful life and minimal maintenance cost, reserve funding is not appropriate. We recommend making repairs as necessary as an operating expense. No reserve funding necessary. Page 54 of 73

78 Comp #: 1390 Wall Mirror - Replace Fitness Room & Club Room Approx 250 Sq.ft. Quantity description: Life Expectancy: 12 Remaining Life: 9 Best Cost: $2,750 Estimate to replace 140 Sq.ft. - Club Room 110 Sq.ft. - Fitness Room 250 Sq.ft. - Total Worst Cost: $3,250 Higher estimate for more installation costs Source of Information: CSL Cost Database Wall mirrors are in good condition. No appearance concerns noted at the time of inspection. We recommend funding to replace this component every 12 years. Remaining life based on current age. Page 55 of 73

79 Comp #: 1405 Furniture - Replace Building Interior (53) Pieces Quantity description: Life Expectancy: 10 Remaining Life: 7 Best Cost: $6,000 Allowance to replace Worst Cost: $8,000 Higher allowance Source of Information: CSL Cost Database (3) - Bench / 25 Lf Bench Seat / 18 Lf Bookshelf (1) - Desk / (17) - Chairs / (6) - Chairs, Table (2) - File Cabinets 3 x 7 ft. - Mirror 13 x 13 ft. - Rug, Area (3) - Sofas (3) - Table (2) - Table, Coffee (9) - Tables, Side (3) - Table Lamp Furniture is in good condition. No significant signs of wear or appearance concerns noted at the time of inspection. We recommend funding to make significant replacements to furniture approximately every 10 years to maintain appearance and keep up with decorative tastes. Remaining life based on current age. Page 56 of 73

80 Comp #: 1406 Fitness Equipment - Replace Fitness Room (4) Pieces Quantity description: Life Expectancy: 15 Remaining Life: 12 Best Cost: $6,500 Estimate to replace Worst Cost: $8,500 Higher estimate (1) - Dumb & Kettle Bell Set (1) - Life Fitness, Ab Board (1) - Life Fitness, Fit 3 Multi-Gym (1) - Life Fitness, Knee Raise/ Dip/ Pull Up (4) - Total Pieces Source of Information: Research with local vendor Fitness equipment is in good condition. No damage or signs of advanced wear noted. We recommend repairing broken cables and ripped upholstery as necessary as an operating expense and funding to completely replace the fitness equipment approximately every 15 years. Remaining life based on current age. Page 57 of 73

81 Comp #: 1407 Cardio Equipment - Replace Fitness Room (4) Pieces Quantity description: Life Expectancy: 7 Remaining Life: 4 Best Cost: $8,000 Estimate to replace Worst Cost: $10,000 Higher estimate (1) - Lemond Rev Master Bike (1) - Star Trac Bike S-UB (1) - Star Trac Elliptical S-TBT (1) - Star Trac Treadmill S-TR (4) - Total Pieces Source of Information: Research with local vendor Cardio fitness equipment is in good condition. No evidence of advanced wear or damage. Due to higher use and wear expect to replace this equipment approximately every 7 years. Remaining life based on current age. Page 58 of 73

82 Comp #: 1413 Restroom - Remodel 3rd Floor (2) Restrooms Quantity description: Life Expectancy: 16 Remaining Life: 13 Best Cost: $12,000 $6,000/Restroom; Estimate to remodel restroom Worst Cost: $16,000 $8,000/Restroom; Higher estimate for more extensive remodel (1) - Sink/Urinal/ 2 x 3 ft. Mirror 110 Sq.ft. - Floor Tile (4) Can, (1) Vanity - Lights 500 Sq.ft. - Painted Surfaces Men's 5 / Women's 16 Linear ft. - Partition Men's 4.5 x 3.5 / Women's 3 x 3 ft. - Tiled Shower Men's 1 / Women's 2 - Toilet 250 Sq.ft. - Wall Tile 170 Sq.ft. - Wall Paper Source of Information: CSL Cost Database Restrooms are in good condition. No appearance concerns noted at the time of inspection. We recommend funding to remodel these restrooms approximately every 16 years to maintain appearance and keep up with current decorative tastes. Remaining life based on current age. Page 59 of 73

83 Comp #: 1417 Kitchenette - Remodel Club Room (1) Kitchenette Quantity description: Life Expectancy: 20 Remaining Life: 17 Best Cost: $3,000 Allowance to remodel 45 Sq.ft. - Floor tile 15 Linear ft. - Counter Top 11 Linear ft. - Base Cabinet (1) - Sink (1) - Mini Refrigerator Worst Cost: $5,000 Higher allowance for more extensive remodeling Source of Information: CSL Cost Database Kitchenette is in good condition. Cabinets are not showing any significant signs of wear, no appearance concerns noted. Expect to remodel kitchenette approximately every 20 years to keep up with current decorative tastes and ensure proper function of appliances. Remaining life based on current age. Page 60 of 73

84 Comp #: 1418 Office Equipment - Replace Office (3) Pieces Quantity description: Life Expectancy: 6 Remaining Life: 3 Best Cost: $1,250 Estimate to replace (1) - Computer w/monitor (1) - Fax Machine (1) - Printer (3) - Total Pieces Worst Cost: $1,750 Higher estimate for better quality Source of Information: CSL Cost Database Office equipment is in good condition. No problems noted or reported during the inspection. We recommend funding to replace the office equipment approximately every 6 years to ensure function and keep up with current technology. Remaining life based on current age. Page 61 of 73

85 Comp #: 1419 Bose Speaker System - Replace Club Room (1) 10-speaker System Life Expectancy: 12 Remaining Life: 9 Best Cost: $1,000 Estimate to replace system Worst Cost: $1,250 Higher estimate Source of Information: CSL Cost Database The Bose speaker system is in good condition. This type of system has a typical life expectancy of approximately 12 years. Remaining life based on current age. Page 62 of 73

86 Comp #: 1490 Flat Panel Television - Replace Club & Fitness Room (2) Televisions Quantity description: Life Expectancy: 10 Remaining Life: 7 Best Cost: $800 Estimate to replace (1) - Club Room (1) - Fitness Room (2) - Total Worst Cost: $1,500 Higher estimate for better quality Source of Information: CSL Cost Database The flat panel televisions are in good condition. No problems noted during the inspection. Expect a useful life of approximately 10 years from this component. Remaining life based on current age. Page 63 of 73

87 Comp #: 1490 Wallpaper - Replace Main Lobby & Floor 2 Lobby Approx 1,550 Sq.ft. Quantity description: Life Expectancy: 12 Remaining Life: 9 Best Cost: $4,650 $3.00/Sq.ft.; Estimate to replace wallpaper 350 Sq.ft. - Floor 2 1,200 Sq.ft. - Lobby 1,550 Sq.ft. - Total Worst Cost: $5,813 $3.75/Sq.ft.; Higher estimate for more labor Source of Information: CSL Cost Database Wallpaper is in good condition. We recommend funding to replace this component approximately every 12 years to maintain appearance standards. Remaining life is based on current age. Page 64 of 73

88 Comp #: 1501 Carpeting - Replace Building Interior Approx 15,240 Sq.ft. Quantity description: Life Expectancy: 8 Remaining Life: 5 Best Cost: $57,150 $3.75/Sq.ft.; Estimate to replace Worst Cost: $64,770 $4.25/Sq.ft.; Higher estimate for better quality 540 Sq.ft. - Club Room 330 Sq.ft. - Fitness Room 320 Sq.ft. - Floor 2 2,600 Sq.ft. - Floor 3 5,900 Sq.ft. - (2) 2,950 Sq.ft. - Floors 4, 6 5,400 Sq.ft. - (2) 2,700 Sq.ft. - Floors 5, Sq.ft. - Office 15,240 Sq.ft. - Total Source of Information: CSL Cost Database Carpet is in good to fair condition. Evidence of minor wear was noted in the hallways, but no rips or curling seams were observed at the time of the inspection. Expect to replace this component approximately every 8 years assuming normal use and wear. Remaining life based on current age. Page 65 of 73

89 Comp #: 1503 Floor & Wall Tile - Replace Building Interior Approx 1,760 Sq.ft. Quantity description: Life Expectancy: 30 Remaining Life: 27 Best Cost: $21,120 $12/Sq.ft.; Estimate to replace floor Worst Cost: $26,400 $15/Sq.ft.; Higher estimate for more installation costs 120 Sq.ft. - Floor 2, Wall Tile 260 Sq.ft. - Floor 3 1,000 Sq.ft. - Lobby 380 Sq.ft. - Lobby, Wall Tile 1,760 Sq.ft. - Total Source of Information: CSL Cost Database The floor and wall tile are in good condition. No problems noted at the time of inspection. Although this component may reach an extended life we recommend funding to replace the tile approximately every 30 years to ensure appearance and keep up with current decorative tastes. Remaining life based on current age. Page 66 of 73

90 Comp #: 1601 Interior Lights - Replace Building Interior (535) Lights Quantity description: Life Expectancy: 18 Remaining Life: 15 Best Cost: $26,750 $50/Light; Estimate to repalce lights Worst Cost: $53,500 $100/Light; Higher estimate for better quality replacements (51) - Can (6) - Ceiling Lights, Club Room (131) - Fluorescent (190) - Fluorescent, Garage (157) - Spot/Track (535) - Total Source of Information: CSL Cost Database The interior lights are in good condition. Expect to replace these lights approximately every 18 years to maintain appearance and keep up with current decorative tastes. Remaining life based on current age. Page 67 of 73

91 Comp #: 1602 Exterior Lights - Replace Building Exterior (255) Lights Quantity description: Life Expectancy: 16 Remaining Life: 13 Best Cost: $38,250 $150/Fixture; Estimate to replace Worst Cost: $63,750 $250/Fixture; Higher estimate (174) - Balcony (14) - Ceiling Mount, Garage Entrance (6) - Spots, Grill Area (1) - Wall Mount, North Door (38) - Wall Mount, Building Accent (15) - Wall Packs, Building Perimeter (7) - Wall Packs, Open Parking Area (255) - Total Lights Source of Information: CSL Cost Database Exterior lights are in good condition. Expect to replace these lights approximately every 16 years to maintain appearance. Remaining life based on current age. Page 68 of 73

92 Comp #: 1603 Landscaping Lights - Replace Plaza (26) Lights Life Expectancy: N/A Remaining Life: Best Cost: $0 Worst Cost: $0 Source of Information: Landscaping lights are in good condition. Due to minimal maintenance and replacement cost and no expectation to replace all lights at one time, reserve funding is not appropriate. Maintain and replace as necessary as an operating issue. No reserve funding necessary. Page 69 of 73

93 Comp #: 1604 Pole Light Fixtures - Replace Plaza, Spa Area (2) 2-Light Fixtures Life Expectancy: 18 Remaining Life: 15 Best Cost: $1,500 $750/Fixture; Estimate to replace light fixtures Worst Cost: $2,500 $1,250/Fixture; Higher estimate for more installation costs Source of Information: CSL Cost Database The pole light fixtures are in good condition. No expectation to replace poles under normal circumstances. We recommend funding to replace these pole light fixtures and to refurbish the electrical approximately every 18 years. Remaining life based on current age. Page 70 of 73

94 Comp #: 1605 Bollard Lights - Replace Plaza (13) Lights Life Expectancy: 16 Remaining Life: 13 Best Cost: $7,150 $550/Light; Estimate to replace lights Worst Cost: $8,450 $650/Light; Higher estimate for more installation costs Source of Information: CSL Cost Database Bollard lights are in good condition. Expect to replace lights approximately every 16 years to ensure appearance and function. Remaining life based on current age. Page 71 of 73

95 Comp #: 1812 Landscaping - Renovate Plaza Area, Street Side & North of Building Approx 19,300 Sq.ft. Quantity description: Life Expectancy: 20 Remaining Life: 17 Best Cost: $6,500 Allowance to renovate landscaping Worst Cost: $9,500 Higher allowance for more renovations 12,000 Sq.ft. - North Side 4,000 Sq.ft. - Plaza Area 2,200 Sq.ft. - Street Side 1,100 Sq.ft. - West Side 19,300 Sq.ft. - Total Source of Information: CSL Cost Database Landscaping is in good condition. No expectation to completely re-landscape the community. We recommend funding for an allowance to renovate the landscaping and irrigation system to maintain appearance and keep up with current decorative tastes. This component should be funded approximately every years. Page 72 of 73