721 UPREIT: FIVE-CLOCK CALENDAR WORKSHEET
General education. Complete with current agreements and qualified advisers.

Holder: ______  Issuer: ______  Unit class / lot / quantity: ______
Document version and review date: ______

Repeat this block for each applicable clock:
1. DST business plan / conversion option
2. OP-unit contractual restriction
3. Notice, processing and settlement
4. Securities resale / transfer restrictions
5. Tax-protection agreement term

Interest and lot covered: ______
Source document / section / date: ______
Event starting the clock: ______
Verified start date: ______
Duration / end condition: ______
Calculated milestone date: ______
Right that begins (request / receive / sell / other): ______
Who controls the next decision: ______
Exceptions, waivers, minimums and cross-references: ______
Settlement form and timing confirmed? ______
Status (contractual / projected / unresolved / not applicable): ______
Person confirming calculation and date: ______
Next action and owner: ______

PERSONAL FUNDING CHECK
Expense: ______  Due date: ______  Amount: ______
Other cash reserved specifically for it: ______
Gap = expense minus dedicated other cash: ______
Do not count unconfirmed redemptions as available cash.

HYPOTHETICAL CALENDAR
DST purchase: January 15, 2027.
Actual contribution / OP-unit issuance: July 15, 2029.
Assumed one-year restriction ends: July 15, 2030.
Expense due April 2030 precedes eligibility. Cash date remains unresolved.
These are invented educational assumptions, not offering terms or a forecast.

Keep tax holding-period records separate. No conversion, liquidity, tax result
or return is guaranteed. Preserve prior document versions and recheck after changes.