NOTICES, terms & conditions

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1. Basis of Information and Proprietary Data Platform Policy

PexSciäCRE is a Consultant-led, human-reviewed commercial real estate feasibility screening and decision-support platform utilizing proprietary scientific methodologies and software-assisted analytical methodologies. It is designed to provide preliminary commercial real estate feasibility screening to assist investors in determining whether a prospective retail shopping center acquisition warrants further due diligence.

All market information, comparable-property data, demographic information, traffic data, sales history, ownership information, and other analytical inputs utilized in the preparation of this Report are derived from Consultant-supplied information, licensed third-party commercial real estate databases (including CoStar when available through the Consultant's authorized access), public records, governmental sources, client-supplied documents, and other information sources believed to be reasonably reliable.

Unless expressly stated in the Report, no physical inspection or site visit has been performed by SRE, LLC, PexSci CRE, or its Consultants. The absence of a site visit or physical inspection may limit the identification, verification, or assessment of property conditions, deferred maintenance, environmental conditions, code issues, structural conditions, tenant-specific conditions, or other matters that may materially affect the property's performance or value. Consequently, this Report should not be interpreted as a property condition assessment, engineering inspection, environmental inspection, appraisal inspection, code inspection, roof inspection, structural review, or physical due diligence report. Clients remain responsible for conducting independent due diligence and retaining qualified professionals where appropriate.

PexSci CRE organizes, analyzes, and reconciles information supplied by the Consultant and other authorized sources. PexSci CRE does not independently retrieve information from CoStar, perform automated CoStar extraction, conduct unauthorized scraping of proprietary databases, or guarantee the completeness of any third-party information incorporated into a Report.

For purposes of this Report, "PexSci CRE," and "the Platform" refer collectively to the PexSci commercial real estate analytical platform operated by Smith Robertson Enterprises (SRE), LLC.

"Beta Report" means the specific PexSci™ CRE report designated by SRE, LLC for evaluation under the Qualified Beta Testing Program and identified in the participant's Beta Report purchase.

“Client” means the individual, entity, investor, lender, advisor, or authorized representative that engages SRE, LLC to prepare a Report.

"Consultant" means Smith Robertson Enterprises (SRE), LLC, and any of its authorized employees, contractors, consultants, analysts, representatives, or other individuals acting on its behalf who utilize PexSci™ CRE in the collection, review, validation, supplementation, interpretation, analysis, preparation, quality assurance, or delivery of a Report or related services.

"Member" means an individual, entity, investor, lender, advisor, or authorized representative that enrolls in and maintains an active PexSci CRE Membership Plan offered by SRE, LLC, including any Annual Subscription Plan or Installment Membership Plan, whether through an initial enrollment or renewal, and who is entitled to receive the membership benefits associated with the selected plan, subject to these Important Notices, the applicable Terms and Conditions, and all Membership Policies.

"Membership Plan" means a one-year subscription program offered by SRE, LLC that entitles a Member to receive a specified number of PexSci™ CRE Reports and any associated membership benefits in accordance with the selected plan, whether paid in full at enrollment or through an approved Installment Payment Plan.

“Optimization Intelligence” means a proprietary PexSci analytical component that identifies opportunities for observable asset optimization initiatives, classifies those initiatives according to investor objectives, and presents the resulting analyses to help the Client recognize opportunities that may enhance long-term property performance and investment value. It is derived from relevant property information, publicly available sources, licensed third-party information (where available), and analyses performed using PexSci's proprietary evidence-based scientific methodologies. Optimization Intelligence is provided solely for informational and decision-support purposes and does not constitute recommendations, professional advice, forecasts, guarantees of performance, or assurances that any initiative is appropriate, feasible, lawful, or likely to achieve similar results for the subject property.

“Report” means any analytical deliverable generated by PexSci™CRE, including but not limited to Competitive Market Intelligence Reports, Acquisition Feasibility Screening Reports, Acquisition Feasibility Screening Reports with Optimization Intelligence, Premium Survivability Feasibility Screening Reports, Beta Reports, and any future commercial report types made available by SRE, LLC.

“Smith Robertson Enterprises (SRE), LLC” maintains and operates the PexSci™ decision intelligence platform, and provides the Human-in-the-Loop (HITL) Consultant services.

2. No Appraisal or Valuation Services

This Report (including any Competitive Market Intelligence Report, Acquisition Feasibility Screening Report, Acquisition Feasibility Screening with Optimization Intelligence Report, Survivability Feasibility Screening Report, Beta Report, or other analytical deliverable issued by PexSci™ CRE) does not constitute, and is not intended to provide, a real estate appraisal, formal valuation, or certified opinion of value. The analyses, metrics, and parameters presented herein have notbeen performed by a state-licensed or certified real estate appraiser in accordance with the Uniform Standards of Professional Appraisal Practice (USPAP) or any other regulatory standards. Consequently, nothing contained in this Report should be interpreted as an opinion of market value, insurable value, assessed value, investment value, or fair market value. For formal, regulated valuation or appraisal information, the recipient is explicitly advised to retain the services of a qualified, state-licensed professional appraiser.

3. Transaction Recording and Data Publication Delays

The Client acknowledges that real estate transaction information may not become immediately available following the closing of a transaction. Delays may occur between (i) the execution or closing of a transaction, (ii) the recording of deeds or other transfer documents by the applicable governmental authority, (iii) the publication or availability of such records by governmental agencies, and (iv) the collection, processing, normalization, validation, publication, or distribution of such information by third-party data providers, commercial databases, listing services, governmental repositories, or other information sources utilized by PexSci CRE.

Accordingly, recent sales transactions, ownership transfers, recorded deeds, comparable-property sales, financing activity, tax records, assessments, demographic information, traffic data, listing information, occupancy information, and other market information may be unavailable, incomplete, delayed, under review, pending publication, pending ingestion, or otherwise absent from a Report despite having occurred prior to the Data Effective Date. Consequently, all analyses, comparable-property selections, valuations, and conclusions are based upon information available as of the Data Effective Date, and PexSci CRE does not represent or warrant that any Report reflects all transactions, sales, transfers, listings, recordings, ownership changes, or market events occurring immediately prior to the Report date. Information not yet recorded, published, ingested, validated, or made available by applicable third-party sources may be omitted from a Report without constituting an error, defect, omission, negligence, or failure of performance by PexSci CRE.

The absence of a transaction, comparable-property sale, ownership transfer, or other market event from a Report shall not be construed as evidence that such event did not occur. Comparable-property selection involves professional judgment, data availability, source limitations, proprietary filtering methodologies, geographic considerations, market conditions, and underwriting assumptions. Reasonable analysts, brokers, appraisers, lenders, and investors may identify different comparable properties and arrive at different conclusions using the same underlying market information. Additionally, Clients are advised that recently completed transactions may not be reflected in public records or third-party databases for days, weeks, or, in certain jurisdictions or circumstances, longer periods following the transaction date.

No refund, credit, replacement Report, claim, or cause of action shall arise solely because a transaction, comparable property, ownership transfer, recorded deed, listing, or other market information was not yet available through public records or our licensed third-party data source at the time the Report was generated.

4. Third-Party Data Sources; Data Accuracy; No Warranty of Completeness

PexSci CRE, SRE, LLC, and their affiliates, licensors, contractors, developers, Consultants, and service providers may utilize information obtained from third-party sources, including but not limited to public records, county assessor records, recorded deed information, commercial real estate listing platforms, demographic databases, traffic databases, mapping providers, governmental agencies, client-supplied documents, and third-party data vendors.

While PexSci CRE endeavors to obtain information from sources believed to be reliable, neither PexSci CRE nor SRE, LLC warrants or guarantees the completeness, timeliness, accuracy, availability, currency, validity, or suitability of any third-party information incorporated into a Report. Third-party sources may contain errors, omissions, inconsistencies, delays in publication, incomplete transaction records, duplicate records, improperly classified records, unreported transfers, portfolio transactions, entity-level transfers, data ingestion failures, or other inaccuracies beyond the control of PexSci CRE.

Accordingly, any sale date, sale price, ownership information, building size, acreage, occupancy information, demographic information, traffic counts, valuation metrics, comparable property data, market statistics, or other information derived from third-party sources should be considered informational estimates and research inputs rather than independently verified facts unless expressly identified as verified within the applicable Report.

PexSci CRE does not represent or warrant that every recorded real estate transaction, deed transfer, comparable sale, listing, or property attribute has been identified, captured, retrieved, processed, or reflected within any Report. The absence of a transaction, comparable property, ownership change, sale price, sale date, or other property information from a Report does not establish that such information does not exist.

Clients and other recipients of the Report remain solely responsible for conducting independent due diligence and verifying all material facts, assumptions, transactions, comparable properties, valuations, underwriting inputs, legal descriptions, zoning classifications, ownership information, title matters, environmental conditions, financial information, and investment conclusions prior to making any investment, lending, acquisition, disposition, leasing, development, or business decision.

To the maximum extent permitted by applicable law, PexSci CRE and SRE, LLC disclaim any liability arising from incomplete, unavailable, delayed, inaccurate, omitted, misclassified, or improperly reported third-party data, regardless of whether such data originated from governmental records, commercial databases, listing services, public sources, private vendors, Client submission, Client authorized representatives’ submissions, or other external information providers.

5. Hypothetical and Speculative Nature of Forecasts

This Report may represent a scenario-based business-planning analysis derived from client-supplied inputs, Consultant-supplied information, analytical frameworks, and market information available at a specific point in time. The business planning scenarios, tenant-category analyses, capital-planning scenarios, financial models, and asset strategies presented herein are hypothetical, speculative, and intended solely to assist Clients and authorized recipients, where applicable, in evaluating potential acquisition, repositioning, leasing, financing, and other strategic business considerations associated with a commercial real estate asset.

This Report is provided solely as an informational and decision-support tool. It is not intended to constitute investment advice, financial advice, legal advice, tax advice, appraisal conclusions, valuation services, financing recommendations, or a guarantee of future property performance. Clients and authorized recipients should conduct independent due diligence and consult qualified professionals before making investment decisions.

The inclusion of a tenant-category recommendation, business scenario, capital-planning scenario, or other analytical output should not be interpreted as a prediction, guarantee, endorsement, certification, or recommendation that any particular outcome will occur, be achievable, or prove commercially successful. Rather, such outputs represent scenario-based analytical constructs developed from the assumptions, parameters, and information available at the time of preparation.

Real estate markets are inherently volatile, non-deterministic, and subject to economic, regulatory, environmental, demographic, financing, and competitive forces that may materially affect actual outcomes. No report, model, algorithm, Consultant, or analytical platform can predict future market performance, tenant demand, asset survivability, lease-up performance, or investment returns with certainty.

Accordingly, actual future results, performance, occupancy levels, lease-up metrics, operating results, capital requirements, or investment performance may differ materially from the scenarios, forecasts, assumptions, and illustrations contained within this Report.

6. Digital Security & Verification Policy

To support document integrity, version control, and auditability, every Report of Record generated through the platform is assigned a unique Report Verification ID. The Report Verification ID is displayed on the report cover page and serves as the official reference handle for future verification, reconciliation requests, and record retrieval.

Report Verification ID assignment occurs only after final Consultant review, approval and issuance of the completed Report of Record.  Consultant drafts, working copies, preliminary analyses, review versions, and internal development materials are not Reports of Record and are not eligible for verification status.

As part of the platform's verification protocol, a cryptographic SHA-256 verification signature is generated and retained within the platform's internal verification records for each Report of Record. The Report Verification ID serves as the public lookup reference, while the SHA-256 verification signature serves as the underlying proof-of-record used to validate document integrity.

If a report is edited, modified, supplemented, reformatted, converted, or otherwise altered after issuance, the resulting document may no longer match the original Report of Record maintained within the verification system. Any material revision requires issuance of a new report version and a new Report Verification ID.

For verification or reconciliation requests, authentication shall be performed against the official Report Verification ID and the corresponding SHA-256 verification record maintained by the platform. Only Reports of Record contained within the verification system may be authenticated.

7. Limitation of Liability and Reliance Guardrails

This Report is provided strictly for informational, educational, analytical, and preliminary business-planning purposes. It is intended to assist Clients in evaluating potential acquisition, repositioning, leasing, financing, and strategic alternatives associated with a commercial real estate asset.

This Report is not intended to constitute investment advice, financial advice, legal advice, tax advice, appraisal services, valuation services, brokerage services, financing recommendations, lending recommendations, securities advice, or any other regulated professional service. PexSci CRE, SRE, LLC, and its Consultants do not act as investment advisors, appraisers, lenders, attorneys, tax professionals, broker-dealers, or fiduciaries in connection with the preparation of a Report.

All analyses, scores, feasibility screening assessments, acquisition observations, comparable-property analyses, risk assessments, opportunity assessments, and recommendation classifications are intended solely as decision-support tools and analytical observations. Any recommendation classification, including "Data Supports Proceeding," "Data Indicates Proceed with Caution," or "Data Currently Does Not Support Proceeding," reflects only the information available as of the Data Effective Date and should not be interpreted as a guarantee, directive, endorsement, investment recommendation, financing recommendation, valuation conclusion, or prediction of future performance. Recommendation classifications are intended solely to summarize available data and analytical observations and are not directives regarding acquisition, disposition, financing, leasing, or investment decisions.

Reports may include explanatory appendices, glossaries, methodology summaries, source references, score explanations, and analytical narratives intended to improve transparency and facilitate Clients’ and authorized recipients’ understanding of the analyses presented herein. Such explanatory materials are provided for informational purposes only and do not alter the limitations, disclaimers, assumptions, or reliance restrictions set forth herein.

The fees charged for the analytical deliverables and related services compensate for proprietary scientific methodologies, software infrastructure, engineering, maintenance, report preparation, quality-control processes, professional services (where applicable), and the resources required to generate the requested deliverables. Fees are earned as services are rendered, or deliverables are generated and made available. Except where otherwise required by applicable law or expressly agreed in writing, fees paid for completed services, generated reports, or delivered analytical outputs are non-refundable.

Any claim, dispute, reconciliation request, or inquiry concerning a Report must reference the applicable Report Verification ID (RVID) associated with the relevant Report of Record.

To the maximum extent permitted by applicable law, SRE, LLC, its affiliates, contractors, licensors, developers, platform providers, representatives, and service providers disclaim all warranties, whether express or implied, and shall not be liable for any direct, indirect, incidental, special, consequential, exemplary, or punitive damages, lost profits, lost opportunities, business interruption losses, or other financial losses arising out of or relating to the use of, reliance upon, inability to use, or interpretation of this Report. If liability is imposed notwithstanding the foregoing limitations, the aggregate liability of SRE, LLC and all related parties shall not exceed the amount actually paid by the Client for the specific Report, subscription period, engagement, or deliverable giving rise to the claim.

8. Report Availability, Refund Eligibility, and Data Limitations

The Client acknowledges that PexSci CRE Reports are generated using proprietary scientific methodologies, proprietary analytical frameworks, software-assisted processing, Consultant review, publicly available information, licensed third-party data sources, client-supplied information, Consultant-supplied information, and other data sources believed to be reasonably reliable at the time of Report generation. Neither PexSci, nor SRE, LLC Consultants conduct site visits. Consequently, all analyses are based on the available data described in this section.

Commercial real estate analysis necessarily involves professional judgment, estimation, data interpretation, source limitations, and predictive assumptions. Accordingly, PexSci CRE does not guarantee that every comparable property, transaction, listing, market condition, ownership record, sale, demographic trend, traffic count, valuation factor, or other potentially relevant information has been identified or incorporated into a Report.

The discovery of additional comparable properties, sales transactions, listings, public records, demographic information, traffic data, ownership information, market data, or other information after a Report has been generated shall not, by itself, constitute a defect in the Report and shall not entitle the Client to a refund, credit, replacement Report, or other compensation.

Reasonable analysts, appraisers, brokers, lenders, consultants, investors, and market participants may select different comparable properties, apply different assumptions, utilize different data sources, or reach different conclusions using the same or similar information. PexSci CRE Reports represent analytical opinions and recommendations based upon information available at the time of preparation and are not guarantees of future performance, valuation, profitability, market acceptance, investment success, financing availability, or investment outcomes.

PexSci CRE continually refines, validates, expands, and improves its proprietary scientific methodologies, evidence domains, evidence factors, analytical frameworks, scoring methodologies, normalization procedures, contribution rules, investment-question frameworks, and related decision-support processes. Consequently, future Reports generated using later methodology versions may differ from earlier Reports despite using similar underlying property information. Such methodology enhancements do not constitute corrections of prior Reports but reflect the Platform's continuing scientific development.

Refunds, if any, shall be considered solely at the discretion of SRE, LLC and only in the following limited circumstances:

1. A technical system failure prevents generation or delivery of a      Report and the failure cannot be reasonably corrected;
2. A duplicate charge is processed for the same Report request;
3. A Report request cannot be completed due to insufficient available      data and PexSci CRE determines that no meaningful analysis can reasonably      be provided;
4. A material software processing error is identified that      substantially impacts the core analytical output of the Report and cannot      be reasonably corrected through reprocessing or replacement of the Report.

Refunds shall not be provided for any of the following reasons:

(a) disagreement with assumptions, methodology, scoring, comparable-property selection, valuation conclusions, feasibility screening conclusions, or investment recommendations;

(b) discovery of additional comparable properties, transactions, listings, ownership information, demographic information, market information, public records, or other data after Report generation;

(c) inaccuracies, omissions, delays, interruptions, limitations, or inconsistencies originating from third-party data providers, public records, governmental sources, commercial databases, listing platforms, mapping services, demographic providers, traffic-count providers, client-supplied information, or other external sources;

(d) changes in market conditions occurring after Report generation;

(e) investment losses, financing outcomes, leasing outcomes, business outcomes, valuation outcomes, or other economic results arising from reliance on a Report.

To the maximum extent permitted by applicable law, the sole remedy available to a Client for any qualifying issue shall be correction, reprocessing, replacement, or regeneration of the applicable Report. Any refund issued shall not exceed the amount actually paid by the Client for the specific Report giving rise to the claim.

9. Membership Plans and Payment Options

PexSci CRE offers both Annual Subscription Plans and Installment Payment Plans to provide Clients with flexible purchasing options for PexSci CRE Reports.

Annual Subscription Plans

Clients may purchase an annual subscription for a selected number of PexSci CRE Reports and receive discounts of up to 30% off the regular per-report pricing when payment is made in full at the beginning of the subscription term.

Unused reports remain available during the applicable one-year subscription period but expire at the end of the subscription term unless otherwise expressly stated.

Installment Payment Plans

For Clients who prefer payment flexibility, PexSci CRE offers installment payment plans.

Installment Plans:

• include a convenience fee; 
• require recurring automatic payments throughout the selected plan      term; 
• require authorization of recurring payments through PexSci CRE's      designated payment processor (including Intuit or any successor payment      platform) before the plan may be activated; and 
• remain subject to these Notices and all applicable Terms and      Conditions. 

Failed Payments

If a recurring payment cannot be processed for any reason, PexSci CRE may suspend membership benefits, delay Report availability, retry the payment, or terminate the Membership until the account is brought current. The Member remains responsible for all amounts owed under the Membership Agreement, including any applicable Early Termination Fee.

Automatic Renewal

Unless otherwise expressly stated in writing, all Membership Plans automatically renew for successive one-year terms at the then-current membership pricing in effect on the renewal date. As a courtesy, members will receive a reminder email at least 30 days prior to renewal.

Renewal will occur automatically using the payment method on file unless the Client cancels the Membership prior to the applicable renewal date.

Clients enrolled in Installment Membership Plans authorize recurring automatic charges for all scheduled installment payments during the membership term and any renewal term until cancelled.

Renewal reminders may be provided as a courtesy; however, the Client remains solely responsible for cancelling a Membership before the renewal date if renewal is not desired.

10. Cancellation Policy

Clients may cancel their Member Installment Plan or Member Subscription Plan at any time; however, cancellation does not eliminate any Early Termination Fee that may become due under Section 10 below.

By purchasing a Membership Plan, the Member acknowledges and agrees to these Important Notices, the applicable Pricing Policies, and the Terms and Conditions in effect on the purchase date.

11. Early Termination Fee

Membership Plans are designed to provide pricing incentives for Clients who commit to purchasing multiple reports.

Accordingly, Clients may cancel a Membership Plan at any time; however, cancellation prior to satisfying the financial obligations of the selected Membership Plan may result in an Early Termination Fee.

The Early Termination Fee is calculated as follows:

(Regular List Price × Number of Reports Received) + 20% Convenience Fee

- All Membership Payments Received Since the Most Recent Activation or Renewal Date

The resulting balance, if any, becomes immediately due upon cancellation.

If payments made equal or exceed the calculated amount, no Early Termination Fee shall be due.

The Early Termination Fee is intended solely to reconcile pricing previously discounted under the Membership Plan and is not intended as a penalty.

12. Consultative Services

Consultative Services are separate professional services and are not included with Report purchases unless expressly stated.

For Consultative Services:

• Full payment is required before an appointment will be scheduled. 
• After payment is received, Clients shall use the scheduling link      provided on the Order webpage to reserve an available appointment. 
• Appointments cancelled less than twenty-four (24) hours before the      scheduled start time are non-refundable. 
• Clients arriving more than fifteen (15) minutes late may be required      to reschedule the appointment at PexSci CRE's discretion. 

13. PexSciä CRE Qualified Beta Testing Program

From time to time, SRE, LLC may offer limited participation in the PexSci CRE Qualified Beta Testing Program(the "Beta Program") for the purpose of evaluating new or enhanced report features, proprietary scientific methodologies, software functionality, user experience, and other pre-release capabilities prior to commercial availability.

Beta Reports are provided solely for product evaluation, testing, and feedback purposes and do not constitute final commercial releases. Beta Reports may contain incomplete features, experimental functionality, preliminary proprietary scientific methodologies, draft report formats, or other elements that are subject to change without notice and should not be relied upon for investment, lending, acquisition, or other commercial decision-making. SRE, LLC makes no representation or warranty that any feature, functionality, recommendation, methodology, report format, score, analytical output, or capability evaluated during the Beta Program will be included in any future commercial release of PexSci CRE.

Beta Program Eligibility

Participation in the PexSci CRE Qualified Beta Testing Program is by invitation or approval only, is offered in limited quantities, and is intended exclusively for individuals and organizations that satisfy the Beta Program Eligibility requirements and represent PexSci CRE's intended commercial real estate customer base. Submission of an application or request to participate does not guarantee acceptance into the Beta Program.

The Beta Program is intended for experienced commercial real estate decision-makers who regularly evaluate retail shopping center investment opportunities. Applicants must have direct decision-making responsibility for evaluating, acquiring, financing, developing, sponsoring, managing, or approving commercial real estate investments and must reasonably anticipate using commercial real estate feasibility analyses in connection with actual or prospective investment decisions, in one or more of the following capacities as prospective users of PexSci CRE:

• commercial real estate owner or owner-operator; 
• commercial real estate investor; 
• real estate developer or redevelopment company; 
• real estate syndicator or sponsor;
• private equity real estate fund manager;
• family office real estate investment manager;
• commercial real estate acquisitions professional; or
• another commercial real estate decision-maker approved by SRE, LLC.

Applicants must provide a valid and verifiable email address that permits SRE, LLC to communicate regarding the Beta Program. While business email addresses are preferred, qualified applicants who use personal email addresses may also be accepted. SRE, LLC may request additional information to verify an applicant's identity, business affiliation, professional qualifications, and eligibility for participation. Disposable, anonymous, or temporary email addresses may be rejected.

Applicants agree to participate in good faith solely for the purpose of evaluating the Beta Report, its methodologies, scoring and overlays, and providing constructive feedback regarding the PexSci CRE platform.

Approval and Right to Decline Participation

To protect the proprietary scientific methodologies, confidential information, trade secrets, and intellectual property embodied in PexSci CRE, SRE, LLC reserves the sole and absolute right, in its sole discretion, to approve, deny, suspend, or terminate participation in the Beta Program at any time and for any lawful reason. Without limitation, participation may be denied or terminated if SRE, LLC determines that an applicant or participant develops, licenses, markets, sells, teaches, consults on, researches, evaluates, or otherwise provides commercial real estate feasibility analyses, underwriting methodologies, investment analysis services, redevelopment planning services, valuation methodologies, artificial intelligence platforms, analytical software, consulting services, or other products or professional services that compete with, are substantially similar to, or could reasonably benefit from access to or knowledge of PexSci CRE's proprietary scientific methodologies, processes, analytical outputs, or technology, or if participation is otherwise determined to be inconsistent with the objectives of the Beta Program or the protection of PexSci CRE's proprietary interests.

Beta Participation Requirements

Approved Beta Test participants are eligible to receive one (1) PexSciäReport for a fee of One Dollar (US $1.00), subject to compliance with the Beta Program requirements and these Important Notices, in exchange for participating in the Beta Program.

The $1.00 Beta Program fee constitutes nominal consideration for participation and serves to confirm the applicant's intent to participate in good faith. It does not represent the commercial value of the Beta Report or confer any ownership, license, or other rights in the underlying software, proprietary scientific methodologies, intellectual property, or proprietary technology.

Participation in the Beta Program requires each Beta Tester to:

• complete a thirty (30) minute post-report survey; 
• participate in one (1) sixty-minute feedback interview (or      approximately one hour); 
• provide honest, constructive feedback regarding report quality,      analytical usefulness, recommendations, presentation, usability,      functionality, and overall platform experience; and 
• cooperate in good faith with reasonable follow-up questions relating      to the evaluation of the Beta Report. 

Confidentiality and Intellectual Property

Beta Test participants acknowledge that PexSci CRE, including its software, proprietary scientific methodologies, evidence frameworks, scoring systems, algorithms, workflows, prompts, report formats, user interface, software architecture, documentation, business processes, feasibility screening models, and related materials constitute valuable confidential information, proprietary information, and trade secrets of SRE, LLC.

Participation in the Beta Program grants no ownership interest, license, intellectual property rights, or other proprietary rights in PexSci CRE or any associated technology, methodologies, documentation, software, reports, or analytical outputs.

Except as expressly authorized in writing by SRE, LLC, Beta Test participants agree that they shall not:

• copy, reproduce, distribute, publish, disclose, transmit, or      otherwise disseminate any proprietary Beta Program materials; 
• reverse engineer, decompile, disassemble, benchmark, observe,      analyze, or study the Platform, Beta Reports, or related materials for      competitive purposes; 
• use any Beta Program materials to develop, improve, validate,      benchmark, market, or support any competing software, analytical platform,      consulting service, product, or methodology; 
• upload, submit, copy, transmit, or otherwise use any portion of a      Beta Report, analytical output, proprietary scientific methodology,      recommendation, prompt, workflow, or supporting material to train,      evaluate, benchmark, improve, validate, or otherwise support any      artificial intelligence system, machine learning model, large language      model, automated underwriting platform, or competing analytical system; or      
• use any proprietary information obtained through the Beta Program      for any purpose other than evaluating the Beta Report and providing      feedback to SRE, LLC. 

Feedback and Product Improvements

SRE, LLC may use, evaluate, modify, incorporate, and implement any comments, suggestions, recommendations, ideas, observations, or other feedback voluntarily provided by Beta Test participants for the purpose of improving PexSci CRE, its software, proprietary scientific methodologies, documentation, reports, user experience, products, and future commercial releases.

By participating in the Beta Program, participants grant SRE, LLC a perpetual, irrevocable, worldwide, royalty-free, transferable, sublicensable right to use, modify, incorporate, publish in anonymized form, and otherwise utilize such feedback without compensation or further permission.

Feedback may be aggregated and anonymized for product improvement, research, quality assurance, and commercial development purposes. Personally identifiable information will not be publicly disclosed except as permitted by applicable law or with the participant's express consent.

SRE, LLC reserves the right to modify, suspend, discontinue, or terminate the Beta Program, in whole or in part, at any time without prior notice or liability.

Client/Member Agreement:

By signing below, I acknowledge that I have carefully read and understand, and I voluntarily agree to be legally bound by, the PexSci Important Notices, Terms and Conditions, Privacy Policy, Refund Policy, and, if applicable,the Membership Plan Terms, Automatic Renewal Policy, Recurring Payment Authorization, Early Termination Policy, Beta Testing Program Terms, and Consultative Services Policies Document LN-001, Version 1.0, effective July 22, 2026. 

I further certify that all information I have provided is true and accurate, that I satisfy any applicable eligibility requirements for the products or services selected, and that these documents govern my purchase, participation, membership, and use of PexSci CRE products and services.

I acknowledge that PexSci CRE Reports are informational decision-support tools and that I remain solely responsible for conducting my own independent due diligence and consulting qualified professionals before making investment or other business decisions.