22074_Gathing Motor_Nova Assessment Report 20170616

CORPORATE HEADQUARTERS Minneapolis, MN Serving our clients Nationwide
115 UNIONVILLE INDIAN TRAIL ROAD, SUITE B-1, INDIAN TRAIL, NC 28079
June 16, 2017 Spectrum Development Company, LLC Attn: Polly Sennett Taylor 13801 Reese Boulevard, Suite 300 Huntsville, NC 28078
RE: PROPERTY CONDITION ASSESSMENT REPORT
OFFICE BUILDING 1100 SOUTH TRYON STREET CHARLOTTE, NORTH CAROLINA 28203
NOVA PROJECT NO. PROJNO This Property Condition Assessment Report (PCA) was prepared based on observations made at the 1100 South Tryon (the “Property”) on June 12, 2017, in accordance with the agreement between Nova Consulting Group, Inc. (NOVA) and Spectrum Development Company, LLC dated May 25, 2017. This PCA has been prepared in accordance with ASTM E2018-15: “Standard Guide for Property Condition Assessments: Baseline Property Condition Assessment Process” and Spectrum Development Company, LLC scope of work. The purpose of this PCA is to describe the major physical systems and opine on their condition, provide Opinions of Probable Costs to remedy deferred maintenance and existing physical deficiencies and to provide a schedule of Replacement Reserve Schedule for recurring replacement costs anticipated within the future. We certify that we have no undisclosed interest in the Property, and that our employment and compensation are not contingent upon our findings or opinions. The scope of this assessment, methodology, limiting conditions, and reliance language are outlined within this Report. We appreciate the opportunity to assist you. If you have any questions, please contact Robert Hird at 704-577-8144. Sincerely,
NOVA CONSULTING GROUP, INC. Prepared by: Reviewed by: Sean O’Reilly, P.E. Robert S. Applegate Field Observer National Practice Leader
Leaders in Environmental and Engineering Services
PROPERTY CONDITION ASSESSMENT
OFFICE BUILDING
1100 SOUTH TRYON STREET
CHARLOTTE, NORTH CAROLINA 28203
PROJECT NO. RH17-2723
JUNE 16, 2017
PREPARED FOR:
SPECTRUM DEVELOPMENT COMPANY, LLC
13801 REESE BOULEVARD, SUITE 300
HUNTSVILLE, NC 28078
PREPARED BY:
NOVA CONSULTING GROUP, INC.
115 UNIONVILLE INDIAN TRAIL ROAD
SUITE B-1
INDIAN TRAIL NC 28079
ROBERT S. HIRD, P.G., C.P.G.
SENIOR VICE PRESIDENT
704-577-8144

PROPERTY CONDITION ASSESSMENT i 1100 SOUTH TRYON
NOVA PROJECT NO. R17-2723

TABLE OF CONTENTS
1.0 EXECUTIVE SUMMARY ........................................................................................................ 1
1.1 General Description ......................................................................................................................... 1
1.1.1 Site Data Summary ............................................................................................................... 1
1.1.2 Estimated Useful Life Statement .......................................................................................... 1
1.2 General Physical Condition .............................................................................................................. 2
1.3 Deviations from ASTM E2018-15 ..................................................................................................... 2
1.4 Opinions of Probable Costs ............................................................................................................. 3
1.5 Site Visit Information ....................................................................................................................... 3
2.0 PURPOSE AND SCOPE .......................................................................................................... 4
2.1 Purpose ............................................................................................................................................ 4
2.2 Authorization/Reliance .................................................................................................................... 4
2.3 Scope ............................................................................................................................................... 4
3.0 SYSTEM DESCRIPTIONS AND OBSERVATIONS ...................................................................... 5
3.1 Overall General Description............................................................................................................. 6
3.2 Site ................................................................................................................................................... 6
3.2.1 Topography .......................................................................................................................... 6
3.2.2 Storm Water Drainage ......................................................................................................... 7
3.2.3 Ingress and Egress ................................................................................................................ 7
3.2.4 Paving, Curbing and Parking ................................................................................................. 7
3.2.5 Flatwork ................................................................................................................................ 8
3.2.6 Landscaping and Appurtenances ......................................................................................... 9
3.2.7 Recreational Facilities........................................................................................................... 9
3.2.8 Utilities ................................................................................................................................. 9
3.2.9 Site Lighting ........................................................................................................................ 10
3.2.10 Waste Storage Area ............................................................................................................ 10
3.2.11 Site and Building Signage ................................................................................................... 10
3.2.12 Other Site Amenities .......................................................................................................... 10
3.3 Structural Frame and Building Envelope ....................................................................................... 11
3.3.1 Substructure ....................................................................................................................... 11
3.3.2 Superstructure ................................................................................................................... 11
3.3.3 Exterior Façade ................................................................................................................... 12
3.3.3.1 Façade System Design ............................................................................ 12
3.3.3.2 Exterior Windows ................................................................................... 12
3.3.3.3 Exterior Doors ........................................................................................ 13
3.3.3.4 Loading Areas ......................................................................................... 13
3.3.3.5 Exterior Balconies or Stairs .................................................................... 13
3.3.3.6 Sealants .................................................................................................. 14
3.3.4 Roofing Systems ................................................................................................................. 14
3.3.4.1 Roof Design ............................................................................................ 14
3.3.4.2 Parapets ................................................................................................. 15
3.3.4.3 Roof Drainage ......................................................................................... 15
3.4 Mechanical and Electrical Systems ................................................................................................ 16
3.4.1 Plumbing Systems .............................................................................................................. 16
3.4.1.1 Domestic Water Supply .......................................................................... 16
3.4.1.2 Sanitary Sewer ........................................................................................ 16

PROPERTY CONDITION ASSESSMENT ii 1100 SOUTH TRYON
NOVA PROJECT NO. R17-2723

3.4.1.3 Fuel Service and Supply .......................................................................... 16
3.4.1.4 Domestic Hot Water ............................................................................... 17
3.4.2 Heating, Ventilation and Air Conditioning (HVAC) Systems ............................................... 17
3.4.2.1 Heating & Cooling .................................................................................. 17
3.4.2.2 Ventilation .............................................................................................. 18
3.4.3 Electrical Systems ............................................................................................................... 18
3.4.3.1 Service and Metering ............................................................................. 18
3.4.3.2 Distribution ............................................................................................ 19
3.4.3.3 Emergency and Energy Management Systems ...................................... 19
3.5 Vertical Transportation .................................................................................................................. 19
3.5.1 Elevators ............................................................................................................................. 19
3.5.2 Escalators ........................................................................................................................... 20
3.6 Life Safety and Fire Protection Systems ........................................................................................ 20
3.6.1 Sprinklers and Standpipes .................................................................................................. 20
3.6.2 Fire Alarm Systems ............................................................................................................. 21
3.6.3 Other Life Safety and Fire Protection Systems ................................................................... 21
3.7 Interior Elements ........................................................................................................................... 22
3.7.1 Common Areas ................................................................................................................... 22
3.7.2 Site Tenants ........................................................................................................................ 22
4.0 ADDITIONAL CONSIDERATIONS ......................................................................................... 24
4.1 Replacement Reserve Schedule ..................................................................................................... 24
4.2 Baseline Screening for ADA ........................................................................................................... 24
4.2.1 Uniform Abbreviated Screening Checklist for 2010 American with Disability Act ............. 25
4.3 Seismic Zone Identification ............................................................................................................ 27
4.4 Flood Zone Information ................................................................................................................. 28
4.5 Wind Zone ...................................................................................................................................... 28
4.6 Mold ............................................................................................................................................... 28
4.7 Termites and Other Wood Destroying Organisms ........................................................................ 28
5.0 DOCUMENT REVIEW AND INTERVIEWS ............................................................................. 29
5.1 Pre-Survey Questionnaire .............................................................................................................. 29
5.2 Interviews ...................................................................................................................................... 29
5.3 Municipal Research ....................................................................................................................... 30
6.0 OPINIONS OF PROBABLE COSTS TO REMEDY PHYSICAL DEFICIENCIES ............................... 31
6.1 Immediate Term and Short Term .................................................................................................. 31
6.2 Replacement Reserve Schedule ..................................................................................................... 31
7.0 OUT OF SCOPE CONSIDERATIONS ...................................................................................... 33
8.0 LIMITING CONDITIONS ...................................................................................................... 35
9.0 QUALIFICATIONS ............................................................................................................... 37
9.1 Limiting Conditions ........................................................................................................................ 37
9.2 Consultant’s Certification .............................................................................................................. 37

PROPERTY CONDITION ASSESSMENT iii 1100 SOUTH TRYON
NOVA PROJECT NO. R17-2723

APPENDICES
A. Opinions of Probable Costs: Immediate and Short Terms
B. Opinions of Probable Costs: Replacement Reserve Schedule
C. Maps and Plans
D. Disclosure Schedule and Pre-Survey Questionnaire
E. Municipal Research
F. Other Miscellaneous Exhibits
G. Photographic Documentation
H. Nova Credentials

PROPERTY CONDITION ASSESSMENT 1 1100 SOUTH TRYON
NOVA PROJECT NO. R17-2723

1.0 EXECUTIVE SUMMARY
1.1 General Description The 1100 South Tryon office building (the “Site”) is in Charlotte, North Carolina. The Site consists of three irregular-shaped parcels of approximately 2.917 acres in size according the Mecklenburg County Property GIS website. The Property is designed and used for office purposes, and is developed with one structure completed in 1988. The structure is four-stories in height and offers a total of 63,264 heated square feet.
1.1.1 Site Data Summary
Site Name 1100 South Tryon
Street Address 1100 South Tryon Street
City, State Zip Charlotte, North Carolina
Primary Use Office
Year Built & Age 1988 / 29 years old
Reported Occupancy 98%
Number of Buildings One
Number of Stories Four
Total Building Area (SFG) 64,294 SFG; 63,264 SF Heated
Net Rentable Area (NRA) 58,593
Site Area (acres) 2.917
Topography Flat topography
No. of On-Site Parking Spaces 222
No. of On-Site Handicap Parking Spaces 7
Parking Garage/ Carports None
Superstructure Steel framing
Exterior Façade(s) Brick veneer; cultured stone
Cellar/Basement/Crawl Space None
Roof(s) Gravel ballasted single-ply membrane
Heating VAV boxes with heat strips
Air-conditioning Cooling tower, self-contained air handlers; VAV boxes
Plumbing Copper water piping
Electrical Wiring Copper
Number of Elevators Three Hydraulic passenger elevators
Vertical Transportation Elevators and stairwells
Fire Systems Fire sprinkler system; full fire alarm system
Flood Hazard Classification Zone X
Seismic Hazard Zone 2A
1.1.2 Estimated Useful Life Statement The estimated remaining useful life (RUL) is subject to the qualifications as stated in the following paragraph and elsewhere in this report.

PROPERTY CONDITION ASSESSMENT 2 1100 SOUTH TRYON
NOVA PROJECT NO. R17-2723

Based on Nova’s observations and the effective age of the Property, it is Nova’s opinion that the RUL is not less than 35 years. This RUL is based on observed physical condition of the Site at the time of Nova’s Site visit and is subject to possible effects of concealed conditions or the occurrence of extraordinary events, such as natural disasters or other “acts of God”, which may occur subsequent to the date of the on-Site visit. The RUL is further based on the assumption, immediate repairs, long term, and replacement repairs which are provided as capital reserves are completed in a timely and professional matter, and appropriate routine maintenance and replacement items are performed on an “as needed basis”.
1.2 General Physical Condition Generally, the Site was considered to be in good condition. There was no evidence of any apparent major structural or mechanical distress. The Site exhibited normal and expected wear and tear commensurate with its age and appears to be adequately maintained, however there are some deferred maintenance items that require attention.
IMMEDIATE COSTS - opinions of probable costs that require immediate action as a result of any of the following: (1) material existing or potential unsafe conditions, (2) material building or fire code violations, or (3) conditions that if left unremedied, have the potential to result in or contribute to critical element or system failure within one year or will result most probably in a significant escalation of its remedial cost. - Nova observed missing pipe wrap protection under the common area restroom sinks in the common areas of the building. Nova recommends installing the pipe wrap protection per ADA requirements.
SHORT-TERM COSTS - opinions of probable costs to remedy physical deficiencies, such as deferred maintenance, that may not warrant immediate attention, but require repairs or replacements that should be undertaken on a priority basis in addition to routine preventive maintenance. Such opinions of probable costs may include costs for testing, exploratory probing, and further analysis should this be deemed warranted by the consultant. The performance of such additional services is beyond this guide. Generally, the time frame for such repairs is within one year. - No short-term needs were noted.
1.3 Deviations from ASTM E2018-15 Under ASTM E2018-15 standards, it is required that all significant deviations and deletions from the ASTM guidelines be identified. These deviations and deletions are as follows: - A Replacement Reserve Schedule has been incorporated into the Opinions of Probable Costs.

PROPERTY CONDITION ASSESSMENT 3 1100 SOUTH TRYON
NOVA PROJECT NO. R17-2723

- A cursory ADA review was conducted to identify general architectural removable barriers with regards to parking, building entry, elevators, and common areas. If ascertainable, these items will be incorporated into the Immediate Cost category of the Opinions of Probable Costs.
1.4 Opinions of Probable Costs The following is a summary of Probable Costs. Refer to Appendix A “Immediate Repair Cost Estimate” and Appendix B “Reserve Table”:
Immediate Repair/Replacement
Cost Estimate $100
Short Term Repair/Replacement
Cost Estimate $0
Capital Replacement Reserves Expenditures- Long term costs (uninflated)
Cost Estimate (10 + 2 years)
$502,500 OR $0.66
$0.66/SF/YEAR
Capital Replacement Reserves Expenditures- Long term costs (inflated)
Cost Estimate (10 + 2 years):
$531,964 OR
$0.70/SF/YEAR
1.5 Site Visit Information
Date of Site Observation June 12, 2017
Weather Conditions Partly cloudy
Nova Professional Associate Sean O’Reilly
Nova Reviewer Robert S. Applegate, Senior Project Manager
Site Contact Name and Tel. # Ms. Polly Taylor, property manager with Spectrum, 704-875-0100

PROPERTY CONDITION ASSESSMENT 4 1100 SOUTH TRYON
NOVA PROJECT NO. R17-2723

2.0 PURPOSE AND SCOPE
2.1 Purpose Nova Consulting Group, Inc. ("Nova") was retained by Spectrum Development Company, LLC on May 25, 2017 to render an opinion as to the Site’s current general physical condition as of the day of the Site visit in general accordance with the scope and terms of the agreement with Spectrum Development Company, LLC.
2.2 Authorization/Reliance Spectrum Development Company, LLC and its affiliates (collectively, “Client”) may use and rely upon this Report in connection with a planned financial transaction involving the Property. This report has no other purpose and may not be relied upon by any other person or entity without the written consent of Nova. Either verbally or in writing, third parties may come into possession of this report or all or part of the information generated as a result of this work. In the absence of a written agreement with Nova granting such rights, no third parties shall have rights of recourse or recovery whatsoever under any course of action against Nova, its officers, employees, vendors, successors or assigns. Reliance is provided in accordance with Nova’s Proposal and General Conditions executed by Spectrum Developmen Company, LLC on May 25, 2017.
2.3 Scope Nova has prepared this PCA in accordance with ASTM E2018-15: “Standard Guide for Property Condition Assessments: Baseline Property Condition Assessment Process.” And the Citigroup Global Markets Realty Corp scope of Work. This PCA incorporates the information obtained during the PCA process, which is generally outlined as follows: - A single site visit consisting of observations based upon a cursory, “walk-through” of the Site. A survey for latent defects was not conducted. - Inquiries were made of the municipal Building and Fire Departments to determine whether there were any outstanding recorded code violations on file. - A brief review of any available construction or leasing documents/records was conducted. - The taking and annotating of photographs to document existing conditions, representative areas or systems, significant deficiencies, and/or evidence of deferred maintenance. - The scope of this PCA has been augmented by those items outlined in Section 1.3 DEVIATIONS FROM ASTM E2018-15 and 4.0 ADDITIONAL CONSIDERATIONS.

PROPERTY CONDITION ASSESSMENT 5 1100 SOUTH TRYON
NOVA PROJECT NO. R17-2723

3.0 SYSTEM DESCRIPTIONS AND OBSERVATIONS Many of the terms used in this Report to describe the condition of the Site and observable components and systems are listed and defined below. It should be noted that a term applied overall to a system does not preclude the possibility that a part, section, or component of the system may differ in condition. For purposes of this report the agreed threshold is presumed to be the de minimus reporting threshold with repairs not to be more than $3,000, unless it is related to a life safety item or item that if not repaired will significantly cause further damage.
Good – in working condition and does not require immediate or short-term repairs above the agreed threshold.
Fair – In working condition, but may require immediate or short-term repairs above the agreed threshold.
Poor – Not in working condition or requires immediate or short-term repairs above the agreed threshold. The Opinions of Probable Costs shall be segregated into the following cost categories:
Immediate Term (0-90 Days) - Opinions of Probable Costs that require immediate action as a result of any of the following: (1) material existing or potential unsafe conditions, (2) material building or fire code violations, or (3) conditions that if left unembodied, have the potential to result in or contribute to critical element or system failure within one year or will result most probably in a significant escalation of its remedial cost.
Short Term (0-1 Year) - Opinions of Probable Costs to remedy physical deficiencies, such as deferred maintenance, that may not warrant immediate attention, but require repairs or replacements that should be undertaken on a priority basis in addition to routine preventative maintenance. Such Opinions of Probable Costs may include costs for further testing, exploratory, and/or investigation that are beyond the scope of this Report.
Replacement Reserve Schedule (1-12 Years) - Opinions of Probable Costs which encompass short to long-lived recurring systems and components that do not require attention at this time, but should be annually budgeted for in advance. Reserve items include systems and components that are reasonably predictable in terms of frequency and cost. Systems and components listed would include those items that would impact use and tenancy, which are not classified as routine maintenance or operational expenses. Systems and components that are predicted to expire beyond the evaluation period or would not affect the material use or system integrity of the Site may be excluded from the schedule; therefore, not all systems and components would be listed.

PROPERTY CONDITION ASSESSMENT 6 1100 SOUTH TRYON
NOVA PROJECT NO. R17-2723

3.1 Overall General Description The Site is located at 1100 South Tryon Street in Charlotte, North Carolina. The Property consists of three irregular-shaped parcels of approximately 2.917 acres in size according the Mecklenburg County Property GIS website. The Property is designed and used for office purposes and is currently developed with a one (1) structure completed in 1988. The structure is four-stories in height and offers a total of 63,264 heated square feet. The building is primarily constructed of a steel framing system. Exterior walls are brick veneer and cultured stone. The building appears to be constructed on a reinforced concrete slab-on-grade foundation system. The roof is steel framed and covered with a rock ballasted single-ply membrane. Interior finishes in the office areas are typically comprised of suspended acoustical ceiling tiles with painted and/or wallpapered gypsum board. Floors are covered with a combination of carpeting and ceramic tile. Duke Energy supplies the electricity to the Site. The Site contains a Duke Energy owned pad-mounted transformer. The City of Charlotte provides the domestic water and sewer service. Electrical service is 277/480 volts and three-phase. The HVAC systems consist of a roof-mounted cooling tower, self-contained air-handlers on each floor and Variable Air Volume (VAV) boxes with heat strips.
3.2 Site
Description: The Site is in an urban area. The adjacent properties include office uses.
3.2.1 Topography
Description: The topography of the general area can be characterized as having moderate variations. All of the parcel site improvements (building and pavement) are slightly above the elevation of the main road. There are no retaining walls, heavily sloped areas, etc.
Observations/Comments: No observed or reported deficiencies were noted.
Recommendations: There are no material deficiencies requiring repair or replacement at this time.

PROPERTY CONDITION ASSESSMENT 7 1100 SOUTH TRYON
NOVA PROJECT NO. R17-2723

3.2.2 Storm Water Drainage
Description: Storm water surface drainage on the Site is accomplished via sheet flow throughout the property in various directions away from the Site building to interconnected storm water catch basins, which eventually drain to the off-site municipal storm drainage system.
Observations/Comments:
Recommendations: There are no material deficiencies requiring repair or replacement at this time.
3.2.3 Ingress and Egress
Description: Ingress and egress is provided by a driveway from Winnifred Street to the north and S. Tryon Street to the south.
Overall Condition: Good
Observations/Deficiencies/Comments: Access to and from the Site appears to be reasonably located and adequate to handle traffic flow.
Recommendations: There are no material deficiencies requiring repair or replacement at this time.
3.2.4 Paving, Curbing and Parking
Description: The Site is improved with asphalt paved drive lanes and parking areas. Several parking spaces along the south side of the building are provided with concrete pavement. Based on a physical count, parking is provided for 222 cars. The parking ratio is approximately 3.5 parking spaces per thousand square feet of building floor area. All parking stalls are in an open lot. There is a total of seven handicap parking spaces, including two that are van-accessible. The curbs and gutters are constructed of cast-in-place concrete. Several spaces along the sidewalks near the building are provided with composite wheel stops.

PROPERTY CONDITION ASSESSMENT 8 1100 SOUTH TRYON
NOVA PROJECT NO. R17-2723

Overall Condition: Good
Observations/Deficiencies/Comments: The asphalt pavement is in good overall condition. Small cracks were visible in isolated areas throughout the Site. There are no signs of significant cracks or surface deterioration. In order to maximize the pavement life, isolated repairs in addition to complete sealcoating and re-striping of the asphalt pavement is expected to be required during the evaluation period. Refer to Table B “Reserve Schedule” for costs associated with this work. The concrete curbs and gutters throughout the Site are in good condition. Routine cleaning and maintenance will be required during the evaluation period.
Recommendations: There are no material deficiencies requiring repair or replacement at this time. Material deficiencies, wear, estimated remaining useful life (RUL) or life-safety issues suggest that repairs will be necessary during the evaluation period.
3.2.5 Flatwork
Description: Flatwork consists primarily of 4’ wide concrete sidewalks with concrete curbing leading to building entrances. Two ramps are provided at building entrances with metal railings. Concrete stairs provided access to the building entrances.
Overall Condition: Good
Observations/Deficiencies/Comments: The flatwork appeared to be in good condition. The railings were observed to have rust and peeling paint.
Recommendations: Nova recommends painting the railings as part of routine property maintenance.

PROPERTY CONDITION ASSESSMENT 9 1100 SOUTH TRYON
NOVA PROJECT NO. R17-2723

3.2.6 Landscaping and Appurtenances
Description: The Site’s landscaping consists of trees, shrubs, and grasses. Landscaped areas are irrigated by an in-ground sprinkler system, which consists of underground piping, shut-off valves, pop-up sprinkler heads, and automatic timers.
Overall Condition: Good
Observations/Deficiencies/Comments: The landscaping is well established and maintained, and promotes good curb appeal. Site lighting was not on during our Site visit; however, it was reported that it operates properly and sufficiently. Site signage is also clearly visible and in good condition.
Recommendations: There are no material deficiencies requiring repair or replacement at this time.
3.2.7 Recreational Facilities
Description: There are no exterior recreational facilities at the Site.
3.2.8 Utilities
Description: The following utility services are provided to the Site:
UTILITY PROVIDER
Water City of Charlotte
Sanitary Sewer City of Charlotte
Storm Sewer City of Charlotte
Fuel Service No service
Electricity Duke Energy
Special Utility Systems Not Applicable
Overall Condition: Good
Observations/Deficiencies/Comments: Some service mains were not visible as they are buried underground. No problems were reported with regards to the utility systems.

PROPERTY CONDITION ASSESSMENT 10 1100 SOUTH TRYON
NOVA PROJECT NO. R17-2723

Recommendations: There are no material deficiencies requiring repair or replacement at this time.
3.2.9 Site Lighting
Description: Building and pole-mounted area lighting fixtures are provided throughout the exteriors of the Site.
Observations/Comments: Adequate lighting for both the open areas and areas around the Site building was observed. No observed or reported deficiencies were noted.
3.2.10 Waste Storage Area
Description: Solid waste generated at the Site is disposed of in solid waste dumpster located at the north portion of the Site. The solid waste dumpster is the property of the solid waste contractor. The enclosure consists of a brick masonry with metal gates.
Observations/Comments: No observed or reported deficiencies were noted.
3.2.11 Site and Building Signage
Description: A ground-mounted brick sign is provided at the northeast portion of the Site.
Observations/Comments: No observed or reported deficiencies were noted.
3.2.12 Other Site Amenities
Description: No site amenities or recreational facilities were noted at the time of the assessment.

PROPERTY CONDITION ASSESSMENT 11 1100 SOUTH TRYON
NOVA PROJECT NO. R17-2723

3.3 Structural Frame and Building Envelope
3.3.1 Substructure
Description: Based on structures of similar size, configuration, and geographic location, it is assumed that the foundation consists of conventional reinforced concrete spread footings, which support wall and column loads.
Overall Condition: Good
Observations/Deficiencies/Comments: The footings were not visible; however, we did not observe any cracking or evidence of settlement. The foundation appeared to be in good condition, and the building appears to be sound and fit for its intended use and purpose.
Recommendations: There are no material deficiencies requiring repair or replacement at this time.
3.3.2 Superstructure
Description: The building has structural steel columns, which support the upper floors and roof diaphragms. The upper floors have concrete-topped metal panel decks supported by steel beams. The roof is constructed of metal panel decking supported by steel beams.
Overall Condition: Good
Observations/Deficiencies/Comments: The floors and vertical components appear to be plumb with no evidence of deflection or cracking.
Recommendations: There are no material deficiencies requiring repair or replacement at this time.

PROPERTY CONDITION ASSESSMENT 12 1100 SOUTH TRYON
NOVA PROJECT NO. R17-2723

3.3.3 Exterior Façade
3.3.3.1 Façade System Design
Description: The building exterior walls are finished with brick and cultured stone veneer. Building sealants (caulking) are located between dissimilar materials, at joints, and around window and door openings.
Overall Condition: Good
Observations/Deficiencies/Comments: Property Management reported that there are no known current problems with the exterior, and none was observed. The brick and mortar joints were observed to be in good condition and well maintained. Only routine maintenance is anticipated to be needed during the evaluation period.
Recommendations: There are no material deficiencies requiring repair or replacement at this time.
3.3.3.2 Exterior Windows
Description: The windows are metal-framed units with fixed panes of double-paned tinted glazing.
Overall Condition: Good
Observations/Deficiencies/Comments: The windows appear to be operating properly with no evidence of leaks or broken seals.
Recommendations: There are no material deficiencies requiring repair or replacement at this time.

PROPERTY CONDITION ASSESSMENT 13 1100 SOUTH TRYON
NOVA PROJECT NO. R17-2723

3.3.3.3 Exterior Doors
Description: The building is accessed via aluminum framed doors with full glass panels set in aluminum frames. The service doors are painted metal panels set in metal frames. The doors have cylindrical locksets with knob handle hardware.
Overall Condition: Good
Observations/Deficiencies/Comments: The entry doors and service doors were observed to be in good condition. Over the evaluation period some replacement may be required as part of routine maintenance.
Recommendations: There are no material deficiencies requiring repair or replacement at this time.
3.3.3.4 Loading Areas
Description: There are no loading areas at the Site.
3.3.3.5 Exterior Balconies or Stairs
Description: The interior stairs are constructed of steel and have closed risers and concrete-filled metal pan treads. The handrails and balusters are constructed of metal. One exterior terrace is provided along the west portion of the building. The terrace is integrated within the building and consists of brick flooring and is enclosed with a metal handrail.
Overall Condition: Good
Observations/Deficiencies/Comments: The stairs and terrace were observed to be in good condition.

PROPERTY CONDITION ASSESSMENT 14 1100 SOUTH TRYON
NOVA PROJECT NO. R17-2723

Recommendations: There are no material deficiencies requiring repair or replacement at this time.
3.3.3.6 Sealants
Description: Nova observed sealant around the window and doors along the façades.
Overall Condition: Good
Observations/Deficiencies/Comments: The sealant appeared to be relatively well maintained. Over the evaluation period some replacement may be required as part of routine maintenance.
Recommendations: There are no material deficiencies requiring repair or replacement at this time.
3.3.4 Roofing Systems
3.3.4.1 Roof Design
Description: The building roof is classified as flat or low-sloped, and is covered with a rock ballasted single-ply membrane. The roof is also insulated with rigid insulation boards. The exterior perimeter walls extend above the surface of the roof, creating short parapet walls. The roof membrane terminates at the concrete coping. The roof has sheet metal and membrane flashing elements. Storm water is drained from the roof by internal area drains. The storm water is directed to the internal drainage system.
Overall Condition: Good
Observations/Deficiencies/Comments: Property Management reported that there are no current roof leaks, and that the roof was installed in 2015. Based on the age and its expected useful life, replacement is not anticipated during the evaluation period.

PROPERTY CONDITION ASSESSMENT 15 1100 SOUTH TRYON
NOVA PROJECT NO. R17-2723

Property Management did not provide a copy of the roof warranty.
Recommendations: There are no material deficiencies requiring repair or replacement at this time.
3.3.4.2 Parapets
Description: The parapet walls are along the perimeter of all roofing areas and are comprised of steel framed systems capped with concrete coping. The back side of the parapet walls are covered with the single-ply membrane roofing material.
Overall Condition: Good
Observations/Deficiencies/Comments: The flashing and coping appeared to be in good condition and without evidence of leaks or major deterioration. The coping’s vertical joints, which are filled with an elastic sealant, are in good condition.
Recommendations: There are no material deficiencies requiring repair or replacement at this time.
3.3.4.3 Roof Drainage
Description: The roof directs storm water to internal roof drains which discharge to the municipal storm water drainage system.
Overall Condition: Good
Observations/Deficiencies/Comments: No problems were observed or reported with the drainage system.
Recommendations: There are no material deficiencies requiring repair or replacement at this time.

PROPERTY CONDITION ASSESSMENT 16 1100 SOUTH TRYON
NOVA PROJECT NO. R17-2723

3.4 Mechanical and Electrical Systems
3.4.1 Plumbing Systems
3.4.1.1 Domestic Water Supply
Description: The building receives potable water from a main off S. Tyron Street via street pressure. The water is distributed within copper tubing. Domestic water is provided by a single metered.
Overall Condition: Good
Observations/Deficiencies/Comments: Nova did not observe any evidence of leakage to the extent of which we were able to observe. No galvanized or polybutylene piping was observed or reported.
Recommendations: There are no material deficiencies requiring repair or replacement at this time.
3.4.1.2 Sanitary Sewer
Description: Sanitary waste piping was observed to be cast iron. The system discharges to the municipal system via gravity - there are no sewage ejectors.
Overall Condition: Good
Observations/Deficiencies/Comments: Nova did not observe any leaks or odors in the areas that we were able to observe.
Recommendations: There are no material deficiencies requiring repair or replacement at this time.
3.4.1.3 Fuel Service and Supply
Description: Natural gas is not provided.

PROPERTY CONDITION ASSESSMENT 17 1100 SOUTH TRYON
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3.4.1.4 Domestic Hot Water
Description: Domestic hot water is reportedly produced by one Ruud manufactured 120-gallon capacity electric water heater situated in a mechanical room. The water heater supplies hot water to the common area restrooms. The water heater was installed in 2003.
Overall Condition: Good
Observations/Deficiencies/Comments: The water heater was reportedly in good overall condition. Replacement is recommended during the evaluation period. Refer to Table B “Reserve Schedule” for costs associated with this work.
Recommendations: There are no material deficiencies requiring repair or replacement at this time. Material deficiencies, wear, estimated remaining useful life (RUL) or life-safety issues suggest that repairs will be necessary during the evaluation period.
3.4.2 Heating, Ventilation, and Air Conditioning (HVAC) Systems
3.4.2.1 Heating & Cooling
Description: Heating and cooling for the building are provided by a roof-mounted Evapco manufactured cooling tower installed in 2017 and individual Johnson Controls manufactured self-contained air handlers on each floor installed in 2017. The self-contained units each utilize 410-A refrigerant and have a cooling capacity of 40 tons each. New digital controls were installed in 2017. Air distribution is provided to supply air registers by ducts concealed above the ceilings. Return air grilles are provided throughout the building. The heating and cooling systems are controlled by local thermostats and Variable Air Volume (VAV) boxes. Several VAV boxes are provided with heat strips.
Overall Condition: Good

PROPERTY CONDITION ASSESSMENT 18 1100 SOUTH TRYON
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Observations/Deficiencies/Comments: The HVAC units were replaced in 2017 and observed to be in good condition. No replacements are anticipated during the evaluation period.
Recommendations: There are no material deficiencies requiring repair or replacement at this time.
3.4.2.2 Ventilation
Description: Ventilation of the building is provided naturally via windows and doors, and mechanically through central exhaust fans.
Overall Condition: Good
Observations/Deficiencies/Comments: The mechanical ventilation equipment appeared to be in good condition.
Recommendations: There are no material deficiencies requiring repair or replacement at this time.
3.4.3 Electrical Systems
3.4.3.1 Service and Metering
Description: The electrical supply lines run underground to a pad-mounted transformer at the east side of the Property, which feeds an exterior building-mounted electric meter. The main electrical service size is 2,000 amps, 277/480-volt, three-phase, and four-wire alternating current (AC). The electrical wiring is reportedly copper installed in non-metallic sheathed cable. Circuit breaker panels are provided throughout the building. The tenant spaces and common areas have incandescent and fluorescent lighting fixtures.
Overall Condition: Good

PROPERTY CONDITION ASSESSMENT 19 1100 SOUTH TRYON
NOVA PROJECT NO. R17-2723

Observations/Deficiencies/Comments: Property Management did not report any problems or inadequacies with the electrical service, and stated that there is no aluminum wiring at the Site.
Recommendations: There are no material deficiencies requiring repair or replacement at this time.
3.4.3.2 Distribution
Description: Electrical service is provided to the building via electrical panels with circuit breakers throughout the building. A random observation of the branch wiring was observed to be of copper conductors. Overload circuit protection is typically provided by circuit breakers at the main switchgear. A ground fault circuit interrupter (GFCI) was typically observed in the restrooms and other wet areas. A combination of fluorescent and incandescent lighting was observed.
Overall Condition: Good
Observations/Deficiencies/Comments: Property Management reported that there is no aluminum distribution wiring present, and none was observed during the Site visit. The electrical equipment was observed to be in good working order.
Recommendations: There are no material deficiencies requiring repair or replacement at this time.
3.4.3.3 Emergency and Energy Management Systems
Description: The building is not equipped with emergency generators.
3.5 Vertical Transportation
3.5.1 Elevators
Description: The building is equipped with three hydraulic passenger elevators manufactured by Southern Elevator. Elevator controllers are in the first-floor mechanical room. The cabs have a capacity of 2,500 lbs. The passenger cab walls are finished with stained hardwood and have laminate

PROPERTY CONDITION ASSESSMENT 20 1100 SOUTH TRYON
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on the floors, stainless steel control panels, and stainless-steel ceiling. ADA compliance is provided. The elevators are under a service contract with Schindler.
Elevator
No. Capacity Manufacturer
Last
Inspected
Inspection
By
1 2,500 lbs. Southern Elevator 8/11/15 State
2 2,500 lbs. Southern Elevator 8/11/15 State
3 2,500 lbs. Southern Elevator 8/11/15 State
Observations/Comments: No observed or reported deficiencies were noted. The elevators displayed out of date inspection tags by the state. According to management, the state has been notified of the out of date tags, however the state is reportedly behind on inspections and has not inspected the elevators. Based on the age of the elevators, elevator control modernization is anticipated during the evaluation period. Follow up with the state is recommended by management. Refer to Table B “Reserve Schedule” for costs associated with this work.
3.5.2 Escalators
Description: There are no escalators on the Site.
3.6 Life Safety and Fire Protection Systems
3.6.1 Sprinklers and Standpipes
Description: The fire protection system consists of a wet-pipe sprinkler system with fire department hose valves and connections. A Siamese fire hose connection is located at the exterior wall of the building. The riser is six inches in diameter. The fire sprinkler system is equipped with flow and tamper switches and is connected to the fire alarm panel. The system was last inspected by VSC dated March 27, 2017.
Overall Condition: Good
Observations/Deficiencies/Comments: The fire protection system appeared to be in good condition. Property Management did not report any deficiencies.

PROPERTY CONDITION ASSESSMENT 21 1100 SOUTH TRYON
NOVA PROJECT NO. R17-2723

Recommendations: There are no material deficiencies requiring repair or replacement at this time.
3.6.2 Fire Alarm Systems
Description: Common areas and corridors are equipped with battery back-up exit lights and illuminated exit signs. Hard-wired smoke detectors are provided throughout the building. The pull stations, alarms and strobes are connected to a fully addressable Fire-Lite by Honeywell manufactured fire panel located on the first floor which communicates with an outside company in the event of an emergency.
Overall Condition: Good
Observations/Deficiencies/Comments: The fire alarm was reportedly installed in 2015 and was in good overall condition. Property Management did not report any deficiencies and none were observed.
Recommendations: There are no material deficiencies requiring repair or replacement at this time.
3.6.3 Other Life Safety and Fire Protection Systems
Description: Fire extinguishers are located throughout the common areas and mechanical rooms. The fire extinguishers were last inspected by VSC dated August of 2016. The nearest fire hydrants are along the public streets bordering the Site. Common areas and corridors are equipped with battery back-up exit lights and illuminated exit signs.
Overall Condition: Good
Observations/Deficiencies/Comments: The fire extinguishers were observed to have up-to-date inspection tags and were in good physical condition.

PROPERTY CONDITION ASSESSMENT 22 1100 SOUTH TRYON
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Recommendations: There are no material deficiencies requiring repair or replacement at this time.
3.7 Interior Elements
3.7.1 Common Areas
Description: The lobby has of resilient tile on the floor, painted gypsum board walls and lay-in acoustical ceiling tiles. The common area hallways consist of carpeting, painted gypsum board walls and lay-in acoustical ceilings. Toilet rooms consist of ceramic tile flooring with painted gypsum board walls and lay-in acoustical ceiling tiles. The toilet rooms are multiple-user types and have floor-mounted toilets and wall mounted sinks and urinals.
Overall Condition: Good
Observations/Deficiencies/Comments: The common area finishes were observed to be well maintained and in good condition. Replacement of common area carpeting is recommended during the evaluation period. Refer to Table B “Reserve Schedule” for costs associated with this work.
Recommendations: There are no material deficiencies requiring repair or replacement at this time. Material deficiencies, wear, estimated remaining useful life (RUL) or life-safety issues suggest that repairs will be necessary during the evaluation period.
3.7.2 Site Tenants
Description: All office tenants occupy the building, except for one small vacant space. There is a total of 8 office tenants. Nova accessed the following tenants:
UNITS OBSERVED
Room Number Type Comments
100 Cardinal Good condition
204 Assignment Ready Good condition
300 Fontem US Inc. Good condition

PROPERTY CONDITION ASSESSMENT 23 1100 SOUTH TRYON
NOVA PROJECT NO. R17-2723

Overall Condition: Good
Observations/Deficiencies/Comments: The tenant spaces were in good overall condition.
Recommendations: There are no material deficiencies requiring repair or replacement at this time. Replacement of interior finishes is the responsibility of the tenants and therefore no costs are included in the Reserve Table.

PROPERTY CONDITION ASSESSMENT 24 1100 SOUTH TRYON
NOVA PROJECT NO. R17-2723

4.0 ADDITIONAL CONSIDERATIONS The following “Additional Considerations” are deviations from the ASTM E2018-15 Standard and at the request of the client have been specifically required to be considered a part of this Property Condition Assessment:
Replacement Reserve Schedule X
Limited Americans with Disabilities Act (ADA) Review (Obvious Barriers - No measurements taken) X
Full ADA Compliance Review
Limited Fair Housing Act (FHA) Review (Obvious Barriers – No Measurements Taken)
Seismic Zone Identification X
Seismic Report (Probable Maximum Loss)
Flood Hazard Zone Information X
Design Considerations for Natural Disasters
Insect and Rodent Infestation Inspection
Mold Inspection X
Electrical Power Analysis
Wind Zone Designation X
4.1 Replacement Reserve Schedule Refer to Section 6.0 OPINIONS OF PROBABLE COSTS within this Report for the Replacement Reserve Schedule.
4.2 Baseline Screening for ADA The Americans with Disabilities Act (ADA) is a broad, federal civil rights law that protects individuals with disabilities against discrimination in employment and ensures them unimpeded access to “public accommodations” and “commercial facilities” with respect to physical barriers. The ADA requires that places classified as public accommodations and commercial facilities be designed, constructed, and/or altered so as to be “readily accessible” to and usable by persons with disabilities. Owners and employers with such buildings or facilities were to take steps to remove physical barriers, where “readily achievable”, by January 26, 1992. Determination of whether barrier removal is readily achievable is on a case by case basis. It is important to understand that the United States Department of Justice did not provide numerical formulas or thresholds of any kind to determine whether an action is readily achievable. It is also important to understand that ADA is not a building code, it’s a civil rights law. Local building departments may or may not be responsible for compliance with ADA requirements and failure to meet ADA may not be considered a building code violation. The ADA requires a place of public accommodation to remove architectural and communication barriers that are structural in nature in existing facilities, where such removal is readily achievable. In order to determine what is readily achievable, an entity should consult with a team consisting of design professionals, attorneys, and accountants. The ADA does not require periodic assessment or self-assessment; however, the Justice Department

PROPERTY CONDITION ASSESSMENT 25 1100 SOUTH TRYON
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urges public accommodations to establish procedures for an ongoing assessment of their compliance with the barrier removal requirements. The specific requirements of ADA are provided in the Americans with Disabilities Act Accessibility Guidelines (ADAAG). A detailed study of conformance of properties with the requirements of ADA is beyond the scope of this assessment. Nova has included a baseline screening for conformance with ADA requirements. This baseline screening consists of a limited scope visual survey and completion of the below “uniform Abbreviates Screening Checklist of the 2010 Americans with Disabilities Act. This baseline screening excludes measurements and counts. Since this screening is limited in scope and based on representative sampling, non-compliant conditions may exist which will not be identified as a result if the screening. It should be understood that this ADA baseline screening is not meant to be anything more than an opinion based on readily available visual observations and is not a detailed study of conformance of properties with the requirements of ADA. The scope of our survey was limited to the determination of the existence of architectural barriers or physical attributes of the Site, which affect exterior access into the building and access throughout the common areas of the building. While some opinions are made regarding the reported or observed accessibility of common area interior spaces, such as toilet rooms, we did not evaluate individual tenant spaces as part of our walk-through screening. An extensive, detailed ADA compliance review, which most probably would identify other items at the facility that are not in compliance with ADA regulations, was not conducted. Additionally, we did not review nor assess local code requirements which, in some instances, may conflict with or supersede ADA requirements. Nova recommends that any specific questions about compliance with ADA be directed to an attorney in conjunction with design/ construction professionals. At an office Site, the areas considered as public accommodations, besides the Site itself and parking, are the exterior accessible route, the interior accessible route up to the tenant lease lines, and the interior common areas, including the common area restrooms. Based on information from the client improvements were completed to the entry rampls and handicap parking as part of a parking lot Project. Nova observed missing pipe wrap protection under the common area restroom sinks in the common areas of the building. Nova recommends installing the pipe wrap protection as an Immediate Repair.
4.2.1 Uniform Abbreviated Screening Checklist for 2010 American with
Disability Act
A. HISTORY YES NO N/A COMMENTS
1. Has an ADA Survey Previously been completed for this property X
2.
Have any ADA improvements been made to the property since original
construction X
3.
Has building ownership/management reported any ADA complaints or
litigation X

PROPERTY CONDITION ASSESSMENT 26 1100 SOUTH TRYON
NOVA PROJECT NO. R17-2723

B. PARKING YES NO N/A COMMENTS
1.
Does the required number of standard ADA-designated spaces appear to be
provided? X
2. Does the required number of van-accessible designated spaces appear to be provided? X
3.
Are accessible spaces part of the shortest accessible route to an accessible
building entrance? X
4.
Is a sign with the international Symbol of Accessibility at the head of each
space? X
5. Does each accessible space have an adjacent access aisle? X
6.
Do parking spaces and access aisles appear to be relatively level and without
obstruction? X
C. EXTERIOR ACCESSIBILITY ROUTE YES NO N/A COMMENTS
1.
Is an access route present from public transportation stops and municipal
sidewalks on the property? X
2.
Are curb cut ramps present at transition stops and municipal sidewalks on the
property? X
3. Do the curb cut ramps appear to have the proper slope for all components? X
4. Do ramps on an accessible route appear to have a compliant slope? X
5. Do ramps on an accessible route appear to have a compliant length and width? X
6. Do ramps on an accessible route appear to have compliant end and intermediate landings? X
7. Do ramps on an accessible route appear to have compliant handrails? X
D. BUILDING ENTRANCES YES NO N/A COMMENTS
1. Do a sufficient number of accessible entrances appear to be provided? X
2.
If the main entrance is not accessible is an alternate accessible entrance
provided? X
3. Is signage provided indicating the location of alternate accessible entrances? X
4. Do doors at the accessible entrances appear to have complaint clear floor area on each side? X
5. Do doors at accessible entrances appear to have complaint hardware? X
6. Do doors at accessible entrances appear to have a compliant clear opening width? X
7.
Do pairs of accessible entrance doors in series appear to have the minimal
clear space between them? X
8. Do thresholds at accessible entrances appear to have a compliant height? X
E. INTERIOR ACCESSIBLE ROUTES AND AMENITIES YES NO N/A COMMENTS
1. Does an accessible route appear to connect with all public areas inside the building? X
2. Do accessible routes appear free of obstructions and/or protruding objects? X
3. Do ramps on accessible routes appear to have a compliant slope? X
4. Do ramps on accessible routes appear to have a compliant length and width? X
5. Do ramps on accessible routes appear to have complaint Hardware? X
6. Do ramps on accessible routes appear to have compliant handrails? X
7.
Are adjoining public areas and areas of egress identified with accessible
signage? X
8.
Do Public transportation areas and areas of egress identified with accessible
signage? X
9. Do public telephones appear mounted with an accessible height and location? X

PROPERTY CONDITION ASSESSMENT 27 1100 SOUTH TRYON
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10. Are publicly-accessible swimming pools equipped with an entrance lift? X
F. INTERIOR DOORS YES NO N/A COMMENTS
1. Do doors at interior accessible routes appear to have complaint clear floor area on each side? X
2. Do doors at interior accessible routes appear to have compliant hardware? X
3. Do doors at interior accessible routes appear to have complaint opening force? X
4.
Do doors at interior accessible routes appear to have a complaint clear opening
width? X
G. Elevators YES NO N/A COMMENTS
1.
Are hallway call buttons configured with “UP” button above the “Down”
button? X
2. Is accessible floor identification signage present on the hoistway sidewalls? X
3. Do the elevator have audible and visual arrival indicators at the entrances? X
4.
Do the elevator car hoistway and car interior appear to have a minimum
compliant clear floor area? X
5.
Do the elevator car doors have automatic re-opening devises to prevent
closure on obstructions? X
6. Do elevator car control buttons appear to be mounted at a complaint height? X
7.
Are Tactile and Braille characters mounted to the left of each elevator ca
control buttons? X
8. Are Audible and visual floor position indicators provided in the elevator car? X
9. Id the emergency call system at the base of the control panel and not require voice communication? X
H. TOILET ROOMS YES NO N/A COMMENTS
1.
Do publicly-accessible toilet rooms appear to have a minimum compliant floor
area? X
2.
Does the lavatory appear to be mounted at a compliant height and with
compliant knee area? X
3. Does the lavatory faucet have compliant handles? X
4. Is the plumbing piping under lavatories configured to protect against contact? X
Add insulation to piping
per ADA requirements
5. Are grab bars Provided at compliant locations around the toilet? X
6. Do toilet stall doors appear to provide the minimum complaint clear width? X
7. Do toilet stalls appear to provide minimum compliant clear floor area? X
8.
Do urinals appear to be mounted at a compliant height and with compliant
approach width? X
9. Do accessories and mirrors appear to be mounted at a compliant height? X
I. HOSPITALITY GUESTROOMS YES NO N/A COMMENTS
1. Does property management report the minimum required accessible guestrooms? X
11.
Does property management report the minimum required accessible
guestrooms with roll-in showers? X
4.3 Seismic Zone Identification According to the 1997 Uniform Building Code Seismic Zone Map of the United States, the Site is in Seismic Zone 2A, defined as an area of low to moderate probability of damaging ground motion.

PROPERTY CONDITION ASSESSMENT 28 1100 SOUTH TRYON
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4.4 Flood Zone Information According to the Flood Insurance Rate Map, published by the Federal Emergency Management Agency (FEMA) and dated 9-2-15, the Site is in Zone X, defined as an area outside the 500-year flood plain with less than 0.2% annual probability of flooding. Annual Probability of Flooding of Less than one percent.
4.5 Wind Zone Based on the Federal Emergency Management Agency (FEMA), this property is in Wind Zone III, defined as an area with maximum wind speeds between 160 and 200 mph and is not in a Special Wind Zone or Hurricane-Susceptible wind region.
4.6 Mold As part of the PCA, Nova completed a limited, visual assessment for the presence of visible mold growth, conditions conducive to mold growth, or evidence of moisture in readily accessible areas of the Site. Nova interviewed Site Representatives concerning any known or suspected mold contamination, water infiltration, or mildew-like odor problems. This assessment does not constitute a comprehensive mold survey of the Site. The reported observations and conclusions are based solely on interviews with Site Representatives and conditions observed in readily accessible areas of the Site at the time of the assessment. Sampling was not conducted as part of the assessment. Nova did not note any visual indications of the presence of visible mold growth, conditions conducive to mold growth, or evidence of moisture in any readily accessible areas of the Site.
4.7 Termites and Other Wood Destroying Organisms
Description: Consistent with inspecting the structures for deferred maintenance and other potential building concerns, Nova observed areas around the building for the conspicuous presence of termite shelter tubes, obvious damaged wood, and other obvious indicators of termite infestation.
Observations/Comments: No observed or reported deficiencies or the presence of wood-destroying insects were noted as part of our walkthrough survey. A termite management program is not in place; however, based on our inspection and interviews with management, no further action is warranted at this time.

PROPERTY CONDITION ASSESSMENT 29 1100 SOUTH TRYON
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5.0 DOCUMENT REVIEW AND INTERVIEWS The objective of the Document Review and Interview process in terms of this Site Condition Assessment is to augment the walk-through survey and to further assist in understanding the Site’s latent physical components, physical deficiencies as well as preceding or on-going efforts. The information obtained as a result of the Document Review and Interview process is assumed to be true and correct, provided that such information appears to be reasonable.
5.1 Pre-Survey Questionnaire A “Pre-Survey Questionnaire” was transmitted to a representative of the Site’s ownership to obtain particular documents or information which would assist us in our review. Specific questions and various construction, service, maintenance, and leasing documents were requested as well. The status of the Pre-Survey Questionnaire is as follows:

The Pre-Survey Questionnaire was completed by a representative of the Site and was sent to Nova prior
to/ after our Site visit.

The Pre-Survey Questionnaire was completed by Nova by way of interviews with the Site Representative
during the course of our Site visit.
The Pre-Survey Questionnaire was completed in full and all the documents requested were received.
X As of the date of this Report, the Pre-Survey Questionnaire was not completed.

The Pre-Survey Questionnaire was partially completed and several of the documents requested were
provided for our review. Please refer to Appendix D of this Report for a copy of any additional Site information provided.
5.2 Interviews Interviews with representatives of the Site were conducted to inquire about past repairs, pending repairs, improvements or recurring problems. Select service providers which may have been contracted to repair or maintain the Site may be contacted for similar purposes.
Property Management did not provide us with service provider information as requested in our Pre-
Survey Questionnaire.
X Property Management did provide us with some information regarding service providers. Based upon the interview process, the individuals and organizations listed below were contacted and/or interviewed:
Service Provider/
Property Rep.
Title/ Organization/
Relationship
Service Firm
Info. Provided
Contact
Attempted
Contact
Made
No Reply/
No Response
Ms. Polly Taylor Property Contact Spectrum 6/12/17 6/12/17
Mr. Paul West Building Engineer Spectrum 6/12/17 6/12/17 Sources of the following Site data:

PROPERTY CONDITION ASSESSMENT 30 1100 SOUTH TRYON
NOVA PROJECT NO. R17-2723

Gross Floor Area (GFA) GIS Website, tax information
Net Rentable Area (NRA) Rent Roll
Number of Parking Spaces Field Count
Acreage GIS Website, tax information
Date of Construction GIS Website, tax information
5.3 Municipal Research Inquiries with the local municipal agencies were conducted to obtain and review reasonable ascertainable information such as the base building certificate of occupancy, recorded and outstanding material building code violations and recorded material fire violations. The following summarizes our municipal research:
Documents Researched STATUS SOURCE C.O. NO./ NO. OF VIOLATIONS Received Pending
Certificate of Occupancy
www.meckpermit.
com
No posting of the C of O is on file at
the database website.
Building Code Violations X
www.meckpermit.
com
No outstanding violations were
noted.
Fire Violations X
www.meckpermit.
com
No outstanding violations were
noted.
Comments:
Nova researched the Charlotte Mecklenburg Code Enforcement website (www.meckpermit.com) database for
on-line permits, code violations, and Certificates of Occupancy. No violations were noted on file at the website. Please refer to Appendix E of this Report for a copy of any municipal information provided.

PROPERTY CONDITION ASSESSMENT 31 1100 SOUTH TRYON
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6.0 OPINIONS OF PROBABLE COSTS TO REMEDY PHYSICAL
DEFICIENCIES Nova has prepared general-scope Opinions of Probable Costs for the suggested remedy of the material physical deficiencies observed as well as the replacement of major systems and components that should be budgeted for future replacement. These costs are categorized into “Immediate”, “Short-Term” and “Replacement Reserve Schedule” categories, which are described in the beginning of Section 3.0 “Systems and Conditions”. The preparation of the Replacement Reserve Schedule is not a requirement of ASTM E2018-15; however, Nova agrees to provide this schedule at the client's request.
6.1 Immediate Term and Short Term The purpose of the Opinions of Probable Costs for the Immediate and Short-Term is to outline material physical deficiencies and not for repairs and improvements that could be classified as: (1) cosmetic or decorative; (2) part or parcel of a building renovation program or tenant improvement/ finishes; (3) enhancements to reposition the Site in the marketplace; (4) for warranty transfer purposes; or (5) routine or normal preventative maintenance, or a combination thereof. Material physical deficiencies observed and the corresponding Opinions of Probable Costs are to (1) be commensurate with the complexity of the Site; (2) not be minor or insignificant; and (3) serve the purpose of the use in accordance with the user’s risk tolerance level. Opinions of Probable Costs that are either individually or in the aggregate less than a threshold amount of $3,000 for like items may be omitted with the exception of life-safety code violations. If there are four (4) or more separate items that are below this threshold requirement, but collectively total over $10,000, such items should be included. Opinions of Probable Costs should only be construed as preliminary budgets. The Opinions of Probable Costs are not intended to be based upon exact quantities or identify exact locations of items or systems as the basis for its preparation. Costs are limited to construction related costs only; those types of costs that commonly are provided by contractors who perform the work. Business related, design, management fees, and other indirect costs should be excluded. For some physical deficiencies, determining the appropriate suggested remedy or scope may warrant further study/research or design, testing, exploratory probing, and exploration of various repair schemes, or a combination thereof, all of which are outside the scope of this guide. In these instances, the Opinions of Probable Costs for additional study will only be provided.
6.2 Replacement Reserve Schedule The Replacement Reserve Schedule is provided to predict recurring replacement expenditures of significant systems or components that should be budgeted for future replacement. This schedule is to include components or systems that have a predictable

PROPERTY CONDITION ASSESSMENT 32 1100 SOUTH TRYON
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Expected Useful Life, requires significant reserve budgeting, and/or is not classified as cosmetic, an operational expense or routine preventative maintenance. However, there also may be components or systems that have an indeterminable life but a potential to fail within the evaluation term. The Expected Useful Life (EUL) of a system or component is based upon commonly accepted empirical data, research, professional judgment, and our observations in the field. From this information, an opinion as to when a system or component will likely require replacement as a result of either failure or obsolescence is provided. Historical data about replacements and the costs for same will be requested from Property Management and incorporated into our findings. The Effective Age (EFF AGE) is not defined as the actual age of a system or component, although the EFF AGE and the actual age could be the same. The EFF AGE takes into consideration its current condition, exposure to elements, extent of use, and the quality and level of preventative maintenance exercised. As a result, the EFF AGE may be more or less than its actual age. The Remaining Useful Life (RUL) of a component or system is calculated as the EUL less its EFF AGE. Budgeting for items expected to expire beyond the evaluation term or are not considered material to the building or its use is excluded from this Replacement Reserve Schedule. In addition, items identified as a tenant responsibility have been excluded. Therefore, not all recurring replacements costs are itemized in the Replacement Reserve Schedule. The Replacement Reserve Schedule assumes that the repairs and replacement items listed as Immediate and Short Term of this Report are completed. Cost estimates are based on approximate quantities and costs, or furnished information that is reported to be accurate. A detailed survey of quantities for cost estimating has not been performed and is beyond the scope of this Report. These stated costs are, in our opinion, probable for the marketplace. Such statements do not constitute a warranty.

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7.0 OUT OF SCOPE CONSIDERATIONS The following activities are generally excluded from or otherwise represent limitations to the scope of this Property Condition Assessment performed under ASTM E2018-15. These should not be construed as all-inclusive or imply that any exclusion not specifically identified is a Property Condition Assessment requirement. - Removing or relocating materials, furniture, storage containers, persona effects, debris material or finishes; conducting exploratory probing or testing; dismantling or operating of equipment or appliances; or disturbing personal items or Site that obstructs access or visibility. - Preparing engineering calculations (civil, structural, mechanical, electrical, etc.) to determine any system's, component's, or equipment's adequacy or compliance with any specific or commonly accepted design requirement or building codes, or preparing designs to specifications to remedy any physical deficiency. - Taking measurements or quantities to establish or confirm any information or representations provided by the owner or user, such as size and dimensions of the Site or Subject Building; any legal encumbrances, such as easements, dwelling unit count and mix; building Site line setbacks or elevations; number and size of parking spaces; etc. - Reporting on the presence or absence of pests such as wood damaging organisms, rodents, or insects unless evidence of such presence is readily apparent during the course of the field observer's walk-through survey or such information is provided by the owner, client, Property Manager, etc. Nova Consulting Group, Inc. is not required to provide a suggested remedy for the treatment or remediation, determine the extent of infestation, nor provided opinions of probable costs for treatment or remediation of any deterioration that may have resulted. - Reporting on the condition of subterranean conditions such as underground utilities, separate sewage disposal systems, wells; systems that are either considered process-related or peculiar to a specific tenancy or use; waste-water treatment plants; or items or systems that are not permanently installed. - Entering or accessing any area of the premises deemed to pose a threat of dangerous or adverse conditions with respect to the field observer or to perform any procedure that may damage or impair the physical integrity of the Site, any system, or component. - Providing an opinion on the condition of any system or component that is shutdown or whose operation by the field observer may increase significantly the registered electrical demand-load; however, an opinion of its physical condition to the extent reasonably possible considering its age, obvious condition manufacture, etc. should be provided. - Evaluating acoustical or insulating characteristics of system or components. - Providing an opinion on matters regarding security of the Site and protection of its occupants or users from unauthorized access.

PROPERTY CONDITION ASSESSMENT 34 1100 SOUTH TRYON
NOVA PROJECT NO. R17-2723

- Operating or witnessing the operation of lighting or other systems typically controlled by time clocks or that are normally operated by the building's operation staff or service companies. - Providing an environmental assessment or opinion on the presence of any environmental issues such as asbestos, hazardous wastes, toxic materials, the location and presence of wetlands, indoor air quality, etc. - By conducting a Property Condition Assessment and preparing a Property Condition Report, Nova Consulting Group, Inc. is merely providing an opinion and does not warrant or guarantee the present or future condition of the Site, nor may the Property Condition Assessment be construed as either a warranty or guarantee of any of the following: - Any system's or component's physical condition or use, nor is a Property Condition Assessment to be construed as substituting for any system's or equipment's warranty transfer inspection; - Compliance with any federal, state or local statute, ordinance, rule or regulation including, but not limited to, building codes, safety codes, environmental regulations, health codes or zoning ordinances or compliance with trade/design standards or the standards developed by the insurance industry; however, should there be any conspicuous material present violations observed or reported based upon actual knowledge of the field observer or the reviewer of this Report, they should be identified herein. - Compliance of any material, equipment, or system with any certification or actuation rate program, vendor's or manufacturer's warranty provisions, or provisions established by any standards that related to insurance industry acceptance/approval, such as FM, State Board of Fire Underwriters, etc. - There may be physical condition issues or certain physical improvements at the Site that the client may wish to have Nova Consulting Group, Inc. assess in connection with a commercial real estate transaction that are outside the scope of ASTM E2018-15. Such issues are referred to as non-scope considerations and if included in the Property Condition Assessment, should be identified within Section 4.0. ADDITIONAL CONSIDERATIONS.

PROPERTY CONDITION ASSESSMENT 35 1100 SOUTH TRYON
NOVA PROJECT NO. R17-2723

8.0 LIMITING CONDITIONS This Report has been prepared in accordance with ASTM E2018-15: “Standard Guide for Property Condition Assessments: Baseline Property Condition Assessment Process”. While every reasonable attempt has been made to properly evaluate the building conditions as revealed by the walk-through visual observation, it must be recognized that the conclusions reached in this Report are based on the Site conditions during the observation period and any follow-up research. Not all typical areas such as all tenant floors, toilet rooms, closets, corridors, etc., will be surveyed; only a representative sampling of such areas. Our observations and report do not warrant or guarantee the performance of any building components or systems. The scope of this assignment excludes a Phase I Environmental Assessment, consultation relating to asbestos, indoor air quality or hazardous materials and Nova Consulting Group, Inc. can assume no liability for the work, opinions, or reports of any other independent consulting firms engaged for this purpose. No responsibility is assumed for legal matters regarding easements, zoning issues, compliance with municipal organizations or encroachments. Because of the complexities of the ADA, it is understood that Nova Consulting Group, Inc. will not be held liable for any complaints or actions brought against the building, nor can it be held responsible for determining whether deficiency corrections are "readily achievable" within the owner's means to support expenses or not. The ADA and recommendation sections of the Report will enumerate the costs of rectifying deficiencies in general categories but is not intended to be an all-inclusive discussion of each ADA category which can only be performed in a stand-alone, detailed report of the buildings accessibility status requiring a full ADA audit, which is not part of the scope of this PCA. The PCA process does not include an in-depth as-built drawing compliance study, system/component analysis or code compliance studies; measurements; survey for wood-destroying insects or damaged caused by same; or the preparation of engineering calculations of the structural, mechanical or electrical systems to determine compliance with any drawings that may have been submitted or with commonly accepted design or construction practice. This survey does not include an evaluation or tenant-installed or maintained improvements, equipment, fixtures or finishes. Inquiries regarding tenant responsibilities will be made, of which information revealed will be relied upon as true and correct. The PCA process will be continued based upon that information and the PCA disclosing those assumptions. Verification of these assumptions through the analysis of lease agreements is not included in this scope. Nova’s opinions are based solely upon those areas that were observed on the day of our Site visit and information resulting from our interrogatories and research. Actual performance of individual components may vary from a reasonably expected standard and could be affected by circumstances which occur after the date of Nova’s Property Condition Assessment. Concealed physical conditions, special apparatus of any kind, testing, removal of materials or exploratory probing, use of protective clothing, scaffolding, metering and operation of

PROPERTY CONDITION ASSESSMENT 36 1100 SOUTH TRYON
NOVA PROJECT NO. R17-2723

equipment by the field observer is excluded. This survey is not intended to be technically exhaustive.
PROPERTY CONDITION ASSESSMENT 37 1100 SOUTH TRYON
NOVA PROJECT NO. R17-2723
9.0 QUALIFICATIONS
9.1 Limiting Conditions The recommendations submitted for the subject project are based on available information and details furnished by the Property Manager and interviews with the tenants. The observations and recommendations presented in this report are time dependent, and conditions will change. The findings in this Report are not based on a comprehensive engineering study. During the site visit Nova Consulting Group, Inc. did not gain access to all areas, perform any destructive tests, or operate any specific equipment. Nova Consulting Group, Inc. warrants that these findings have been promulgated after being prepared in accordance with generally accepted practice of the construction industry. No other warranties are expressed or implied. Our observations and resulting report are not intended to warrant or guarantee the performance of any building components or systems. The representations regarding the status of ADA Title III compliance were based on visual observation and without any physical measurement and, thus are only intended to be a good faith effort to assist the client by noting non-conforming conditions along with estimates of costs to correct and are not to be considered to be based on an in-depth study.
9.2 Consultant’s Certification On behalf of Nova Consulting Group, Inc., the undersigned hereby certifies that: The report was prepared in a manner consistent with generally accepted industry practices and standards. Nova, or the individuals working on this assignment, is not affiliated with the property owners, its affiliates, or representatives. All information is true and correct, to the best of the undersigned’s knowledge, and reflects the consultant’s best professional opinion and judgment.
NOVA CONSULTING GROUP, INC.
Robert S. Hird, C.P.G. Senior Vice President
APPENDIX A
OPINIONS OF PROBABLE COSTS:
IMMEDIATE AND SHORT TERMS
1100 South Tryon Street Project Age:29
Charlotte, North Carolina 28203 No. of SF:63,264
PROJECT NUMBER: RH17-2723 Reserve Term:12
16-Jun-17 Inflation Rate:2.5%
SYSTEM - COMPONENT QUANTITY UNIT UNIT COST
IMMEDIATE
TERM
SHORT
TERM COMMENTS
SITE
None identified 0 $0.00 $0 $0
STRUCTURAL FRAME & BUILDING ENVELOPE
None identified 0 $0.00 $0 $0
MECHANICAL & ELECTRICAL SYSTEMS
None identified 0 $0.00 $0 $0
VERTICAL TRANSPORTATION
None identified 0 $0.00 $0 $0
LIFE SAFETY & FIRE PROTECTION SYSTEMS
None identified 0 $0.00 $0 $0
INTERIOR ELEMENTS
None identified 0 $0.00 $0 $0
ADA REVIEW
Common area restroom 2 EA $50.00 $100 $0
Install pipe wrap under sinks (protection)at each common area restroom per
ADA requirement.
TOTALS:$100 $0
RH17-2732 1100 S. Tryon, Charlotte NC PCA Cost Tables R5.xlsx 1 of 1

APPENDIX B

OPINIONS OF PROBABLE COSTS:
REPLACEMENT RESERVE SCHEDULE
Opinions of Probable Costs: Replacement Reserve Schedule
1100 South Tryon Street Project Age:29Charlotte, North Carolina 28203 No. of SF:63,264PROJECT NUMBER: RH17-2723 Reserve Term:1216-Jun-17 Inflation Rate:2.5%
SYSTEM - COMPONENT EUL
EFF
AGE RUL QUANTITY UNIT UNIT COST BASE COST YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 YEAR 6 YEAR 7 YEAR 8 YEAR 9 YEAR 10 YEAR 11 YEAR 12 TOTAL COST
Paving, Curbing & Parking
Asphalt Pavement Sealcoating and Restriping 5 2 3 80000 SF $0.20 $16,000 $0 $0 $16,000 $0 $0 $0 $0 $16,000 $0 $0 $0 $0 $32,000STRUCTURAL FRAME & BUILDING ENVELOPENone anticipated $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0MECHANICAL & ELECTRICAL SYSTEMS
Domestic Water Heater, Tank Type, Electric
(120 Gal.)12 10 2 1 EA $2,500.00 $2,500 $0 $2,500 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $2,500HEATING, VENTILATION & AIR-CONDITIONING (HVAC)
None anticipated $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
None anticipated $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
VERTICAL TRANSPORTATIONHydraulic Elevator - Pump/Controller 25 23 2 3 EA $150,000.00 $450,000 $0 $150,000 $150,000 $150,000 $0 $0 $0 $0 $0 $0 $0 $0 $450,000
LIFE SAFETY & FIRE PROTECTION SYSTEMSNone anticipated $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Flooring, Carpet, Nylon 7 4 3 3000 SF $3.00 $9,000 $0 $0 $9,000 $0 $0 $0 $0 $0 $0 $9,000 $0 $0 $18,000
TOTALS - UNINFLATED $0 $152,500 $175,000 $150,000 $0 $0 $0 $16,000 $0 $9,000 $0 $0 $502,500 TOTALS - INFLATED $0 $156,313 $183,859 $161,534 $0 $0 $0 $19,019 $0 $11,240 $0 $0 $531,964
$502,500
$531,964$0.66$0.70
Domestic Hot Water
EFF AGE: Effective Age (May Not be Actual Age of System or Component)RUL: Remaining Useful Life
LEGEND:
INTERIOR ELEMENTS
NOTES:
*: COST EXCLUDED; Reportedly a Tenant Responsibility.
AGGREGATE TOTAL (Uninflated)AGGREGATE TOTAL (Inflated)ANNUAL COST per SF (Uninflated)ANNUAL COST per SF (Inflated)**: Phased replacement recommended to extend beyond reserve term.***: Property Management provided cost or bid.
EUL: Expected Useful Life
SITE
Common or Commercial SpacesCommon Areas
ELECTRICAL SYSTEMS
RH17-2732 1100 S. Tryon, Charlotte NC PCA Cost Tables R5.xlsx 1 of 1

APPENDIX C

MAPS AND PLANS

PLAT MAP
1100 South Tryon
Charlotte, North Carolina
PROJECT NUMBER RH17-2723

Drawing not to scale

SITE LOCATION MAP Drawing Not To Scale
1100 South Tryon
Charlotte, North Carolina
PROJECT NUMBER RH17-2723

SITE PLAN
Office Building
1100 South Tryon Street
Charlotte, North Carolina
PROJECT NUMBER: RH17-2723
Drawing Not To Scale

Building
Parking
areas
Entrances

APPENDIX D

DISCLOSURE SCHEDULE AND
PRE-SURVEY QUESTIONNAIRE

REQUEST FOR DOCUMENTATION
On the day of the Site visit, provide Nova's Field Observer access to all of the available documents listed below.
Provide copies if possible.
INFORMATION REQUIRED
1. All available construction documents (blueprints)
for the original construction of the building or for
any tenant improvement work or other recent
construction work.
2. A Site plan, preferably 8 1/2" X 11", which depicts
the arrangement of buildings, roads, parking stalls,
and other Site features.
3. For commercial properties, provide a tenant list that identifies the names of each tenant, vacant
tenant units, the floor area of each tenant space,
and the gross and net leasable area of the
building(s).
4. For apartment properties, provide a summary of
the apartment unit types and apartment unit type
quantities, including the floor area of each
apartment unit as measured in square feet.
5. For hotel or nursing home properties, provide a
summary of the room types and room type
quantities.
6. Copies of Certificates of Occupancy, building
permits, fire or health department inspection
reports, elevator inspection certificates, roof or
HVAC warranties, or any other similar, relevant
documents.
7. The names of the local utility companies that serve
the Site, including the water, sewer, electric, gas,
and phone companies.
8. The company name, phone number, and contact
person of all outside vendors who serve the Site, such as mechanical contractors, roof contractors,
fire sprinkler or fire extinguisher testing
contractors, and elevator contractors.
9. A summary of recent (over the last five years)
capital improvement work that describes the scope
of the work and the cost of the improvements.
Executed contracts or proposals for improvements.
Historical costs for repairs, improvements, and replacements.
10. Records of system & material ages (roof, MEP,
paving, finishes, furnishings).
11. Any brochures or marketing information.
12. Appraisal, either current or previously prepared.
13. Current occupancy percentage and typical turnover
rate records (for commercial and apartment properties).
14. Previous reports pertaining to the physical
condition of the Site.
15. ADA survey and status of improvements
implemented.
16. Current / pending litigation related to Site
condition.

Your timely compliance with this request is greatly appreciated.

APPENDIX E

MUNICIPAL RESEARCH
Property Detail Print View
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Parcel Information
Parcel ID Account Parent Previous
07307310 NC CORP
Owner(s)
Owner Name Mailing Address City/State
1100 SOUTH TRYON REAL ESTATE PARTNERS LLC PO BOX 56 C/O STEVE WALKER JILIAN NC 27283
Legal Information
Legal Municipality Date Annexed Special District Fire District Acreage
L1 M58-184 CHARLOTTE DOWNTOWN DISTRICT 4 CITY OF CHARLOTTE 0.264
Total Parcel Assessment
Building Land Features Total
0 460300 29000 489300
Exemptions
Exemption Year Approved Review Date Amount
Sales Information
Sale Price Stamps Qualify VI Type Legal Ref. Grantor
Aug 31 2015 2067 MULTIPARCEL IMP MULT LISTING 30244-697 ROSWELL APARTMENTS L
Feb 2 2007 1450000 2900 IMP WARRANTY D 21725-892 KARNEY,ROBERT A
Sep 20 1999 0 OTHER IMP DEED STAMPS 10770-611 KP&S BUILDING PARTNE
Land Use
Use Units Type Neighborhood Assessment
I600 11508.5 SF OF02 460300
Building Information
Bldg Description Type Year Property Location
S TRYON ST CHARLOTTE
Bldg Story Units Total SqFt Heated SqFt Foundation Ext. Wall Grade Value
Bldg Heat Fuel Fire Place AC Fixtures Bedrooms Full Baths 3/4 Baths 1/2 Baths
Sub Area
Bldg Description Size
Depreciation
Bldg Physical Functional Economic Special Override
Special Features & Yard Items
Bldg Built Type Quantity Units Value
Notes
Tax Year Notes Note Date
Value Changes
Notice Date Tax Year Reason Changed To Deferred
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Parcel Information
Parcel ID Account Parent Previous
07307311 NC CORP
Owner(s)
Owner Name Mailing Address City/State
1100 SOUTH TRYON REAL ESTATE PARTNERS LLC PO BOX 56 C/O STEVE WALKER JILIAN NC 27283
Legal Information
Legal Municipality Date Annexed Special District Fire District Acreage
L1 M58-186 CHARLOTTE DOWNTOWN DISTRICT 4 CITY OF CHARLOTTE 0.329
Total Parcel Assessment
Building Land Features Total
0 573300 36200 609500
Exemptions
Exemption Year Approved Review Date Amount
Sales Information
Sale Price Stamps Qualify VI Type Legal Ref. Grantor
Aug 31 2015 2067 OTHER IMP MULT LISTING 30244-697 NEW TRYON LLC
Dec 11 2006 3000000 6000 IMP WARRANTY D 21483-703 GATHINGS MOTOR CO,
Land Use
Use Units Type Neighborhood Assessment
I600 14331.24 SF OF02 573300
Building Information
Bldg Description Type Year Property Location
S TRYON ST CHARLOTTE
Bldg Story Units Total SqFt Heated SqFt Foundation Ext. Wall Grade Value
Bldg Heat Fuel Fire Place AC Fixtures Bedrooms Full Baths 3/4 Baths 1/2 Baths
Sub Area
Bldg Description Size
Depreciation
Bldg Physical Functional Economic Special Override
Special Features & Yard Items
Bldg Built Type Quantity Units Value
Notes
Tax Year Notes Note Date
Value Changes
Notice Date Tax Year Reason Changed To Deferred
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Parcel Information
Parcel ID Account Parent Previous
07307309 NC CORP 07307309
Owner(s)
Owner Name Mailing Address City/State
1100 SOUTH TRYON REAL ESTATE PARTNERS LLC PO BOX 56 C/O STEVE WALKER JILIAN NC 27283
Legal Information
Legal Municipality Date Annexed Special District Fire District Acreage
NA CHARLOTTE DOWNTOWN DISTRICT 4 CITY OF CHARLOTTE 2.324
Total Parcel Assessment
Building Land Features Total
3971600 4049300 36500 8057400
Exemptions
Exemption Year Approved Review Date Amount
Sales Information
Sale Price Stamps Qualify VI Type Legal Ref. Grantor
Sep 25 2014 940000 1880 FRACTIONAL IMP INTERST DEED 29468-438 1100 SOUTH TRYON PRI
Sep 25 2014 0 MULTIPARCEL IMP INTERST DEED 29466-441 1100 SOUTH TRYON PRI
Dec 26 2012 0 MULTIPARCEL IMP INTERST DEED 27936-520 1100 SOUTH TRYON PRI
Dec 26 2012 0 MULTIPARCEL IMP INTERST DEED 27936-511 1100 SOUTH TRYON GRO
Dec 26 2012 0 MULTIPARCEL IMP INTERST DEED 27936-502 1100 SOUTH TRYON GRO
Dec 26 2012 0 MULTIPARCEL IMP INTERST DEED 27936-493 1100 SOUTH TRYON GRO
Dec 26 2012 0 MULTIPARCEL IMP INTERST DEED 27936-484 1100 SOUTH TRYON GRO
Nov 14 2012 0 MULTIPARCEL IMP SHERIFF DEED 27822-702 1100 SOUTH TRYON GRO
May 13 2011 400000 800 MULTIPARCEL IMP INTERST DEED 26478-614 1100 SOUTH TRYON GRO
Aug 12 2009 400000 800 MULTIPARCEL IMP INTERST DEED 25007-111 1100 SOUTH TRYON GRO
Aug 7 2009 0 LESS $3000 IMP SPEC WARRNTY 24995-329 1100 SOUTH TRYON GRO
Aug 25 2005 0 MULTIPARCEL IMP INTERST DEED 19237-787 1100 SOUTH TRYON GRO
Jun 16 2005 0 MULTIPARCEL IMP INTERST DEED 18892-839 1100 SOUTH TRYON GRO
Apr 29 2005 0 MULTIPARCEL IMP INTERST DEED 18675-284 1100 SOUTH TRYON GRO
Apr 29 2005 0 MULTIPARCEL IMP INTERST DEED 18675-276 1100 SOUTH TRYON GRO
Apr 29 2005 MULTIPARCEL IMP MULT LISTING 18675-263 ELEVEN HUNDRED SOUTH
Nov 17 1999 0 OTHER IMP DEED STAMPS 10909-194 ST CATHERINE LAND AS
Land Use
Use Units Type Neighborhood Assessment
I600 101233 SF OF02 4049300
Building Information
Bldg Description Type Year Property Location
1 Office OFFICE 1988 1100 S TRYON ST CHARLOTTE
Bldg Story Units Total SqFt Heated SqFt Foundation Ext. Wall Grade Value
1 >= 2.5 STY 1 64294 63264 SLAB-HEAVY PRECAST PANL - GOOD 06 4415000
Bldg Heat Fuel Fire Place AC Fixtures Bedrooms Full Baths 3/4 Baths 1/2 Baths
1 AIR-DUCTED GAS 0 - AC-CENTRAL 76 0 0 0 0
Sub Area
Bldg Description Size
1 BASE (FIRST FLOOR)15333
1 UPPER STORY - FINISHED 47931
1 PORCH - OPEN - FINISHED 878
1 PORCH - UNFINISHED 152
Depreciation
Bldg Physical Functional Economic Special Override
1 AV - 41.00% - 0.00% - 0.00% - 0.00% - 0.00%
Special Features & Yard Items
Bldg Built Type Quantity Units Value
Notes
Property Detail Print View
http://meckcama.co.mecklenburg.nc.us/RELookup/Property/Print?parcelId=07307309[6/14/2017 5:15:05 PM]
Tax Year Notes Note Date
2011 Informal Review Request Received 04/30/2011
Value Changes
Notice Date Tax Year Reason Changed To Deferred
Mar 21 2011 2011 Countywide Revaluation 8501800 0
Apr 11 2006 2006 Correction of Land Area 7015300 0
Apr 11 2006 2006 Correction of Land Area 7015300 0
Apr 11 2006 2006 Correction of Land Area: Acreage/Sw ftg/7015300 0
Apr 11 2006 2006 Correction of Land Area: Acreage/Sw ftg/7015300 0
Mar 21 2003 2003 Countywide Revaluation 7011000 0
Mar 21 2003 2003 Countywide Revaluation 7011000 0
Jun 13 1998 1998 Revised Notice 5892730
Feb 20 1998 1998 Countywide Revaluation 5986600
Feb 10 1992 1991 Equalization of Value 5003790
Jul 24 1991 1991 Countywide Revaluation 5277440

APPENDIX F

OTHER MISCELLANEOUS EXHIBITS
Database:SPECTRUM Rent Roll Page: 1
Bldg Status:Active only 1100 South Tryon Date:6/11/2017
5/31/2017 Time:03:01 PM
GLA Monthly Annual Monthly Expense Monthly------------------- Future Rent Increases ------------------------------------------------
Bldg Id Suit Id Occupant Name Rent Start Expiration Sqft Base Rent Rate PSF Cost Recovery Stop Other Income Cat Date Monthly Amount PSF
Vacant Suites
1100 207 Vacant 596
Occupied Suites
1100 100 Cardinal Innovations Healthcar 8/26/2014 10/25/2017 13,465 24,697.05 22.01 521.04 BMR 11/1/2017 25,437.63 22.67
BMR 11/1/2018 26,200.65 23.35
1100 200 Eric Little, CPA 9/1/2016 8/31/2021 2,752 5,274.67 23.00 BMR 9/1/2017 5,432.91 23.69
BMR 9/1/2018 5,595.89 24.40
BMR 9/1/2019 5,763.77 25.13
BMR 9/1/2020 5,936.68 25.89
1100 204 Assignment Ready 10/1/2012 1/31/2018 2,209 3,885.00 21.10 496.98
1100 208 Fontem US Inc.2/1/2017 7/31/2019 2,246 4,959.92 26.50 180.50 BMR 7/1/2017 5,108.71 27.29
BMR 7/1/2018 5,261.97 28.11
BMR 7/1/2019 5,419.82 28.96
1100 220 CMHA dba Levine Cancer Inst 4/1/2005 1/31/2019 5,296 11,250.70 25.49 1,297.55 BMR 2/1/2018 11,560.09 26.19
1100 300 Fontem US Inc.8/1/2014 7/31/2019 15,516 25,355.42 19.61 1,246.96 500.00 BMR 8/1/2017 26,117.20 20.20
BMR 8/1/2018 26,892.50 20.80
1100 400 CMHA dba Levine Cancer Inst 3/1/2005 1/31/2019 16,513 35,079.88 25.49 3,203.10 BMR 2/1/2018 36,044.58 26.19
Totals:Occupied Sqft:98.98%7 Units 57,997 110,502.64 6,946.13 500.00
Leased/Unoccupied Sqft:0 Units 0
Vacant Sqft:1.02%1 Units 596
Total Sqft:8 Units 58,593 110,502.64
Grand Total:
Occupied Sqft:98.98%7 Units 57,997 110,502.64 6,946.13 500.00
Leased/Unoccupied Sqft:0 Units 0
Vacant Sqft:1.02%1 Units 596
Total Sqft:8 Units 58,593 110,502.64

APPENDIX G

PHOTOGRAPHIC DOCUMENTATION
1100 South Tryon Charlotte, North Carolina
Date of Photographs June 12, 2017 1 Property Condition Assessment Nova Project No. RH17-2723

1. Property sign 2. East elevation of building
3. West elevation of building 4. South elevation of building
5. Asphalt pavement condition

6. Handicap parking spaces

1100 South Tryon Charlotte, North Carolina
Date of Photographs June 12, 2017 2 Property Condition Assessment Nova Project No. RH17-2723

7. Asphalt paved parking areas 8. Dumpster area
9. Concrete paved parking spaces and access gates 10. Ramp

11. Condition of painted railing 12. Structure of building
1100 South Tryon Charlotte, North Carolina
Date of Photographs June 12, 2017 3 Property Condition Assessment Nova Project No. RH17-2723
13. Roof of building 14. Roof and parapet wall

15. Roof area drain 16. Cooling tower

17. Air handling unit 18. Water heater
1100 South Tryon Charlotte, North Carolina
Date of Photographs June 12, 2017 4 Property Condition Assessment Nova Project No. RH17-2723
19. Elevator equipment room 20. Electrical room
21. Fire sprinkler system riser 22. Fire extinguisher
23. Fire alarm control panel 24. Fire alarm pull station

1100 South Tryon Charlotte, North Carolina
Date of Photographs June 12, 2017 5 Property Condition Assessment Nova Project No. RH17-2723

25. Fire alarm with strobe light 26. Fire main standpipe

27. Elevator cab finishes 28. Common area restroom finishes
29. Common area restroom sinks missing pipe
protection
30. Elevator lobby finishes

1100 South Tryon Charlotte, North Carolina
Date of Photographs June 12, 2017 6 Property Condition Assessment Nova Project No. RH17-2723
31. Common area hallway 32. Common area hallway

33. Tenant office space 34. Tenant office space

35. Tenant office space 36. Tenant office space

APPENDIX H

NOVA CREDENTIALS

SEAN M. O’REILLY, PE
NOVA ASSOCIATE
PROFESSIONAL EDUCATION B.S. Civil Engineering, The Ohio State University, Columbus, OH, 1998
CERTIFICATIONS/QUALIFICATIONS
− Registered Professional Engineer (PE) in the States of NC (No. 032278) and SC (No. 25116)
− Environmental Professional (EP) in Accordance with ASTM E1527-13
− Environmental Site Assessment On-the-Job Training, Aaron and Wright, 2004
− Environmental Site Assessment Experience, 11+ years
− Property Condition Assessment Experience, 11+ years
− Multifamily PCA/ESA Experience, 11+ years
SELECTED EXPERIENCE Mr. Sean O’Reilly has more than e years of consulting experience in the environmental and property condition industry throughout the United States. He has conducted Environmental Site Assessments (ESAs) and Property Condition Assessments (PCAs) for a wide range of local and national clients and has evaluated numerous property types including multifamily residential, retail, office, industrial and hospitality. He is well-versed in conducting site reconnaissance, regulatory reviews, historical research, and interviews. Mr. O’Reilly has provided hundreds of environmental site assessments in accordance with ASTM E1527, the USEPA All Appropriate Inquiry rules, Fannie Mae Delegated Underwriting Standards, Freddie Mac guidelines, and HUD guidelines. He has a detailed understanding of the risks associated with the generation, use, storage and disposal of hazardous and regulated materials, aboveground and underground storage tanks, polychlorinated biphenyls (PCBs), and asbestos-containing materials (ACM). Mr. O’Reilly has also conducted hundreds of property condition assessments in accordance with various scopes, including ASTM 2018, Fannie Mae Delegated Underwriting Standards, Freddie Mac guidelines, and HUD guidelines. He has gained extensive experience assessing site improvements, building structures and envelopes, and mechanical, electrical and plumbing systems. He is also proficient in evaluating deferred maintenance or problematic materials, estimating Immediate Needs Reserves and On-Going Reserves necessary for maintaining a property. Prior to his experience in property assessments, Mr. O’Reilly worked for several civil engineering firms in the construction and design of large scale water and sanitary sewer line projects and storm water drainage projects for municipal clients. His experience in the consulting industry includes concrete testing; land development design and construction monitoring of neighborhood projects for several neighborhoods in Charlotte, North Carolina; construction monitoring and design of sanitary sewer line projects for the City of Charlotte, North Carolina and the City of Columbus, Ohio; and the design of storm water drainage neighborhood projects for the City of Charlotte, North Carolina.

BOB APPLEGATE
SENIOR PROJECT MANAGER
PROFESSIONAL EDUCATION
University of Houston, Professional Bachelor of Architecture, Minor in Business
SELECTED EXPERIENCE
Mr. Applegate has had a dynamic leadership career demonstrating extensive experience in performing and managing
high quality, thorough, timely, professional Design/Build Projects and careful preparation of Construction Loan
Monitoring as well as Property Condition Reports and Phase I Environmental Site Assessment Reports of commercial,
industrial and multi-family residential properties throughout the United States for a wide range of clients contributing
to profitable sustained Business Development.
CONSTRUCTION LOAN MONITORING
Mr. Applegate currently leads Nova’s Construction Loan Monitoring services and provides direct review of
construction documents and administers the efforts of Nova staff throughout the preparation of the monthly Site
Observation Reports.
PROPERTY CONDITION AND PHASE I ENVIRONMENTAL SITE ASSESSMENTS
Mr. Applegate is a Houston Senior Project Manager for Nova Consulting. He has 20 years experience in conducting
Property Condition Assessments. His top quality Due Diligence work has never led to a legal suit.
Mr. Applegate has conducted Property Condition Assessments and Phase I Environmental Site Assessments of
commercial, industrial and multi-family residential properties throughout the United States for a wide range of
clients. He has extensive experience completing construction monitoring and remedial investigation of building
system failures. Consistently in the top 5% of Professional Associates qualified to perform dual scope projects.
Mr. Applegate has evaluated compliance with provisions of Title III of the Americans with Disabilities Act in addition
to building and fire code compliance.
A significant part of Mr. Applegate’s 20 years of experience noted above has included conducting Property Condition
Assessments and writing and reviewing reports in accordance with HUD Market to Market Program Guidelines,
Fannie Mae DUS Guidelines, and Freddie Mac Multi-Family Engineering and Property Condition Report Requirements.
PROFESSIONAL ACHIEVEMENTS
 Formulated methods to streamline permitting process that typically took twelve months to just under three
months for design-build clients in Maryland.
 Was recruited to take on design-build projects in the extremely complex market of New York City and New
England, while based in Texas.
 Set up and conducted meetings with select interest groups in neighborhoods where projects were to be
constructed in order to assure them the new development would not be a hindrance to their way of life.
 Led one of six teams to top production in a five-month extensive review of all Texas Department of
Transportation properties across Texas.
 Top quality Due Diligence work that has never led to a legal suit.
 Certified as an Environmental Professional by Nova Consulting Group.
 Completed training with respect to Termites and Other Wood Destroying Pests.
 Completed PCNA training by the US Department of Housing and Urban Development with respect to Accessibility
in Capital Needs Assessments that primarily included identifying accessibility problems and remedies.

ROBERT S. HIRD, P.G., C.P.G.
SENIOR VICE PRESIDENT
PROFESSIONAL EDUCATION Bachelor of Science Degree, Geology, University of North Carolina at Wilmington, 1983 Field Geology Course, Sul Ross State University, Alpine, Texas, 1983 Post Bachelor Courses, Hydrogeology, UNC Charlotte, 1993-94
CERTIFICATIONS/QUALIFICATIONS
− Licensed Geologist, North Carolina
− Licensed Geologist, South Carolina
− Certified Professional Geologist through the American Institute of Professional Geologist, License # CPG-09688
− Wastewater Treatment Operator, Grade I Physical Chemical Operator, North Carolina, 2005-2014
− 40-Hour OSHA Hazardous Waste Site Training
− 8-Hour OSHA Hazardous Waste Supervisory Training
− HUD ESA Map Certification
− HUD PCA Certification 2012
SELECTED EXPERIENCE Mr. Hird has over 27 years of experience in the due diligence, environmental and engineering industry. His responsibilities have included the management of projects for commercial/industrial/multifamily facilities, on tasks involving: soil and groundwater assessments and remediation (both hazardous and petroleum related releases); environmental compliance audits; Phase I environmental site assessments (ESAs); Property Condition Assessments (PCAs); and Level I, II, and III ASHREA energy audits. He is experienced in managing multiple-site portfolio projects that require quick-response, technical support for engineering assessment and research activities for a wide variety of environmental issues. As a Senior Vice President, Mr. Hird is responsible for the development and implementation of Nova’s operational services to support our clients’ needs. This includes providing quick-response support services to clients across the US and Canada. With the technical resources represented by Nova’s entire network of skilled professionals, Mr. Hird works with clients to delineate appropriate scopes, objectives, budgets and priorities to meet their project needs. He is also responsible to assure that staff are appropriately trained and that quality assurance programs are properly followed. He has managed over 5,000 environmental site assessments for commercial and residential properties throughout the United States. In addition, he has conducted Phase II Investigations and remedial clean ups on industrial, commercial, and retail facilities as well as residential sites. Mr. Hird has been involved in sites which have had chlorinated solvents, petroleum, metals, herbicides, and pesticide contamination. He has extensive knowledge dealing with both State and Federal regulations. Mr. Hird is also responsible for the energy sustainable program at Nova. The sustainability program offers customers a concise methodological approach to sustainability. Nova helps building owners identify current energy uses and provides analysis of the building systems through energy audits to identify energy saving retrofits which enhances the operating capital bottom line, while increasing a buildings value. In addition, Nova works with customers to find financing, grant money and product rebates to reduce and manage energy retrofit project costs.