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General Liability Audit

Prepared for:

Policy Number: Insured:

GL 9045573 ACE VENTURA CONSTRUCTION, INC. 1477 ELEPHANT WAY BURMA, MD 22222

Policy Term: Audit Period: Audit Date:

01/24/1999 - 01/24/2000 01/24/1999 - 01/24/2000 02/23/2000

EZ-Audit report prepared by: Sierra Software Technology Corp.

Date Printed: 08/11/2000 11:41:23AM

Legal Entity: Agent ID: Account Number: Policy Number: Insured Name:

General Liability Corporation 182932 EI - GL 9045573 07/09/2000 000 GL 9045573 ACE VENTURA CONSTRUCTION, INC.

Auditor ID: Auditor Name: Audit Date: Audit Period: Policy Period:

45 02/23/2000 Physical 01/24/1999 01/24/2000 01/24/1999 01/24/2000

I N S U R E D IN FO R M A TI O N Contact: ACE VENTURA Title: PET DETECTIVE Company Name: ACE VENTURA CONSTRUCTION, INC. Address: 1477 ELEPHANT WAY BURMA, MD 22222 Phone: (410) 461-7997 Fax: (410) 465-3171 E-Mail: FEECOMPANY.COM

Entities Number Entity Name 0001 All Entities Locations Location: 0001 All Locations Same as insured address. Added:

D e le ted :

Federal ID

Date Added

Date Deleted

L oca tio n of R eco rd s T err ito ry : 1 Sequence: Description: ACCCOUNTANT'S Contact Name: EILEEN WILCOX Phone: (301) 999-9999 Contact Title: ACCOUNTANT Fax: (301) 777-7777 Company Name: BETTER & BEST, PA Address: 944 GROOVE COURT City: GAITHERSBURG State: MD Zip Code: Email: RUSCOINC.COM

Ext:

Description of Operations INSURED IS AN INTERIOR CARPENTRY CONTRACTOR WORKING FOR GENERAL CONTRACTORS AND PRIVATE HOMEOWNERS. DOES INTERIOR TRIM WORK INCLUDING TRIM WORK AROUND DOORS AND WINDOWS. PRIOR AUDITS HAVE INDICATED OTHER THAN JUST INTERIOR TRIM WORK WHICH WOULD NOT ALLOW FOR THE USE OF THE INTERIOR TRIM CLASSIFICATION. THAT PARTICULAR CLASSIFICATION CODE NUMBER (#91341) IS RESTRICTED TO INTERIOR TRIM. THEREFORE AUDITOR HAS - AS IN THE PAST - APPLIED CODE #91340 - CARPENTRY: RESIDENTIAL, FOR THIS AUDIT. INSURED HAS NO 401K OR CAFETERIA PLAN IN EFFECT. THERE ARE NO LEASED EMPLOYEES. HOWEVER, INSURED DOES USE SUBCONTRACTORS AND INDEPENDENT CONTRACTORS (PIECE WORKERS). SEE GENERAL NOTES AND SUBCONTRACTOR SECTION OF AUDIT FOR DETAILS. ACCOUNTANT HAD NO CERTIFICATES ON FILE. AUDITOR HAS APPLIED AS EXISTING EXPOSURES IN SOME CASES. ADDITIONALLY, INSURED UTILIZES "CASUAL LABOR" WHICH IS INCLUDED FOR THE AUDIT. Exposure Summary State Class Code Description Location: 0001 CARPENTRY - RESIDENTIAL CARPENTRY - INTERIOR CONCRETE WORK PAVING OR REPAVING EXCAVATION FLOOR COVERING INSTALLATION HVAC MASONRY PAINTING - INTERIOR PLUMBING Regional Underwriters Exposure 92,572 0 3,253 698 2,700 2,213 4,925 1,105 2,893 850 From 01/24/99 01/24/99 01/24/99 01/24/99 01/24/99 01/24/99 01/24/99 01/24/99 01/24/99 01/24/99 To 01/24/00 01/24/00 01/24/00 01/24/00 01/24/00 01/24/00 01/24/00 01/24/00 01/24/00 01/24/00 P/O Prod Entity: 0001 MD 91340 MD 91341 MD 91560 MD 92215 MD 94007 MD 94569 MD 95647 MD 97447 MD 98305 MD 98483

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Date Printed: 08/11/2000 11:41:23AM

Account Number: EI - GL 9045573 07/09/2000 000 Policy Number: GL 9045573 Insured Name: ACE VENTURA CONSTRUCTION, INC. Audit Reconciliation State Class Code Description Location: 0001 CARPENTRY - RESIDENTIAL Principals <ACE VENTURA> CASUAL LABOR FROM P & L CARPENTRY - RESIDENTIAL Total CARPENTRY - INTERIOR CONCRETE WORK Total PAVING OR REPAVING Total EXCAVATION Total FLOOR COVERING INSTALLATION Total HVAC Total MASONRY Total PAINTING - INTERIOR Total PLUMBING Total Payroll Verification Entity: 0001 Location: 0001 Verification Type: Federal 941 Amount Adjustment Qtr Starting 25,180 0 1st Qtr 1999 23,580 0 2nd Qtr 1999 24,840 0 3rd Qtr 1999 24,840 0 4th Qtr 1999 0 0 1st Qtr 2000 Gross Total: $98,440 Verification Total:

Audit Date: 02/23/2000 Physical Audit Period: 01/24/1999 01/24/2000 Policy Period: 01/24/1999 01/24/2000 Exposure 98,440 14,050 -28,800 7,302 1,580 92,572 0 3,253 3,253 698 698 2,700 2,700 2,213 2,213 4,925 4,925 1,105 1,105 2,893 2,893 850 850 From 01/24/99 01/24/99 01/24/99 01/24/99 01/24/99 01/24/99 01/24/99 01/24/99 01/24/99 01/24/99 01/24/99 01/24/99 01/24/99 01/24/99 01/24/99 01/24/99 01/24/99 01/24/99 01/24/99 01/24/99 01/24/99 01/24/99 01/24/99 To 01/24/00 01/24/00 01/24/00 01/24/00 01/24/00 01/24/00 01/24/00 01/24/00 01/24/00 01/24/00 01/24/00 01/24/00 01/24/00 01/24/00 01/24/00 01/24/00 01/24/00 01/24/00 01/24/00 01/24/00 01/24/00 01/24/00 01/24/00 P/O Prod

Entity: 0001 MD 91340 MD 91340 MD 91340 MD 91340 MD 91340 MD 91340 MD 91341 MD 91560 MD 91560 MD 92215 MD 92215 MD 94007 MD 94007 MD 94569 MD 94569 MD 95647 MD 95647 MD 97447 MD 97447 MD 98305 MD 98305 MD 98483 MD 98483

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Qtr Total Description 25,180 23,580 24,840 24,840 0 98,440 Deviation:

$0

State C lass C od e Entity: 0001 MD 91340 MD 91341 State Class Code Entity: 0001 MD 91340 Min:

Seq Balance Location: 0001 20 Balance 10

Class Codes Description CARPENTRY - RESIDENTIAL CARPENTRY - INTERIOR Principals Title PRESIDENT/OWNER 14,050 Payroll: Dates 01/24/99 01/24/00 28,800 Amount Incl:

P/O Prod

: : : :

Name Location: 0001 ACE VENTURA 14,050 Max: CARPENTRY

1.000 14,050

Date Printed: 08/11/2000 11:41:23AM

Regional Underwriters

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Account Number: EI - GL 9045573 07/09/2000 000 Policy Number: GL 9045573 Insured Name: ACE VENTURA CONSTRUCTION, INC.

Audit Date: 02/23/2000 Physical Audit Period: 01/24/1999 01/24/2000 Policy Period: 01/24/1999 01/24/2000

Subcontractors Summary Location: 0001 Entity: 0001 CARLOS GUTIERRES 06/15/1999 12/24/1999 Sub Code/Name: 1 Contract Period: Class Code: 91560 Description: CONCRETE WORK State: MD $0 x 100 pct = $0 Labor: $6,505 x 50 pct = $3,253 Material: Insured? No INDIVIDUAL - INSURED DOESN'T THINK HE HAS ANY INSURANCE. CHARGE AT Notes: 50% FOR L & M. PATRICK PIONELLI 12/17/1999 12/17/1999 Sub Code/Name: 10 Contract Period: Class Code: EXCL Description: State: MD $0 x 100 pct = $0 Labor: $1,000 x 100 pct = $1,000 Material: Insured? No INSURED PAID THIS INDIVIDUAL A FINDERS FEE FOR WORK. DON'T CONSIDER Notes: AN EXPOSURE. ROBERTO'S CARPET SERVICE 06/30/1999 09/27/1999 Sub Code/Name: 11 Contract Period: Class Code: 94569 Description: FLOOR COVERING INSTALLATION State: MD $0 x 100 pct = $0 Labor: $3,325 x 50 pct = $1,663 Material: Insured? No INSURED THINKS HE CAN GET A CERTIFICATE FOR THIS CARPET INSTALLER. Notes: WILL FORWARD IF HE CAN GET ONE. CHARGE AT 50% FOR L & M. NOTE: SUBCONTRACTOR REFERENCE # 13 IS THE SAME SUBCONTRACTOR. SHOWN SEPERATELY (TWICE) BY ACCOUNTING RECORDS. ROBERTO LOPEZ 02/22/1999 04/15/1999 Sub Code/Name: 12 Contract Period: Class Code: 98305 Description: PAINTING - INTERIOR State: MD $0 x 100 pct = $0 Labor: $5,786 x 50 pct = $2,893 Material: Insured? No INSURED DOESN'T THINK THIS CONTRACTOR HAS INSURANCE. CHARGE AT 50% Notes: FOR L & M. ROBERTO SANCHEZ 06/02/1999 06/10/1999 Sub Code/Name: 13 Contract Period: Class Code: 94569 Description: FLOOR COVERING INSTALLATION State: MD $0 x 100 pct = $0 Labor: $1,100 x 50 pct = $550 Material: Insured? No NOTE: THIS IS THE SAME CONTRACTOR AS # 11 - ROBERTO'S CARPET SERVICE. Notes: CERTIFICATE MAY FOLLOW. CONSIDER UNINSURED UNITL RECEIVED. CHARGE AT 50% FOR L & M. WILLIA BLACKWELL 11/11/1999 11/11/1999 Sub Code/Name: 14 Contract Period: Class Code: EXCL Description: DESIGNER State: MD $0 x 100 pct = $0 Labor: $325 x 100 pct = $325 Material: Insured? No CONSIDER PROFESSIOAL SERVICE AND NOT A SUBCONTRACTOR. NO CHARGE. Notes: PRESLEY ASPHALT CORP. 11/07/1999 11/07/1999 Sub Code/Name: 15 Contract Period: Class Code: 92215 Description: PAVING OR REPAVING State: MD $0 x 100 pct = $0 Labor: $1,395 x 50 pct = $698 Material: Insured? No INSURED DOES THINK HE CAN GET A CERTIFICATE FOR THIS CONTRACTOR. Notes: UNTIL RECEIVED, CONSIDER UNINSURED. CHARGE AT 50% FOR LABOR & MATERIALS. CAMARA DE COMERCIO 11/30/1999 11/30/1999 Sub Code/Name: 2 Contract Period: Class Code: EXCL Description: COMPUTER SERVICE State: MD $0 x 100 pct = $0 Labor: $40 x 100 pct = $40 Material: Insured? No CONSIDER A PROFESSIONAL SERVICE - NOT A SUBCONTRACTOR. NO CHARGE. Notes: Sub Code/Name: 3 DOUGLAS MECHANICAL Contract Period: 07/19/1999 10/12/1999

Date Printed: 08/11/2000 11:41:23AM

Regional Underwriters

Page 3 of 7

Account Number: EI - GL 9045573 07/09/2000 000 Policy Number: GL 9045573 Insured Name: ACE VENTURA CONSTRUCTION, INC.

Audit Date: 02/23/2000 Physical Audit Period: 01/24/1999 01/24/2000 Policy Period: 01/24/1999 01/24/2000

State: MD Class Code: 95647 Description: HVAC $0 x 100 pct = $0 Labor: $9,850 x 50 pct = $4,925 Material: Insured? No INSURED SAYS THIS CONTRACTOR DOES HAVE INSURANCE AND HE WILL Notes: ATTEMPT TO OBTAIN AND FORWARD WHEN HE CAN GET A CERTIFICATE. UNTIL RECEIPT, CONSIDER AS UNINSURED AND HAVE CHARGED AT 50% FOR L & M. FINAL DISCRETION LEFT TO COMPANY DISPOSITION. 4 F.G. GROUNDWORKS 04/14/1999 07/18/1999 Sub Code/Name: Contract Period: MD 94007 EXCAVATION Class Code: Description: State: $3,000 x 90 pct = $2,700 Labor: $0 x 100 pct = $0 Material: Insured? No INSURED THINKS HE CAN GET A CERTIFICATE FOR THIS CONTRACTOR. WILL Notes: FORWARD IF HE CAN GET ONE. UNTIL THEN, CONSIDER UNINSURED AND CHARGE AT 90% FOR LABOR ONLY. HUMBERTO SALAZAR 02/12/1999 03/29/1999 Sub Code/Name: 5 Contract Period: State: MD Class Code: 98483 Description: PLUMBING $0 x 100 pct = $0 Labor: $1,700 x 50 pct = $850 Insured? No Material: INSURED DOESN'T THINK THIS CONTRACTOR HAS ANY INSURANCE. CHARGE 50% Notes: FOR L & M. JEFF ISON 07/21/1999 07/21/1999 Sub Code/Name: 6 Contract Period: Class Code: 91340 Description: CARPENTRY - RESIDENTIAL State: MD $600 x 100 pct = $600 Labor: $0 x 100 pct = $0 Material: Insured? No MISC LABOR OR CARPENTRY. NO INSURANCE. CHARGE AT 100% FOR LABOR Notes: JUAN PEREZ 05/26/1999 05/26/1999 Sub Code/Name: 7 Contract Period: Class Code: 91340 Description: CARPENTRY - RESIDENTIAL State: MD $390 x 100 pct = $390 Labor: $0 x 100 pct = $0 Material: Insured? No MISC. LABOR / CARPENTRY. NO INSURANCE. CHARGE AT 100% FOR LABOR Notes: ONLY. MARCELO MACHIC 06/02/1999 06/02/1999 Sub Code/Name: 8 Contract Period: Class Code: 91340 Description: CARPENTRY - RESIDENTIAL State: MD $590 x 100 pct = $590 Labor: $0 x 100 pct = $0 Material: Insured? No MISC LABOR / CARPENTRY. NO INSURANCE. CHARGE AT 100% FOR LABOR. Notes: OSMIR DEL CID 07/16/1999 07/19/1999 Sub Code/Name: 9 Contract Period: Class Code: 97447 Description: MASONRY State: MD $0 x 100 pct = $0 Labor: $2,210 x 50 pct = $1,105 Material: Insured? No INSURED DOESN'T THINK THIS CONTRACTOR HAS INSURANCE. CHARGE AT 50% Notes: FOR L & M. Subcontractors Detail Date Amount 12/24/1999 12/17/1999 09/27/1999 04/15/1999 06/10/1999 11/11/1999 11/07/1999 11/30/1999 10/12/1999 Regional Underwriters $6,505 $1,000 $3,325 $5,786 $1,100 $325 $1,395 $40 $9,850

Entity:

0001

Sub Code Location: 0001 1 10 11 12 13 14 15 2 3

Type Labor & Material Labor & Material Labor & Material Labor & Material Labor & Material Labor & Material Labor & Material Labor & Material Labor & Material

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Date Printed: 08/11/2000 11:41:23AM

Account Number: EI - GL 9045573 07/09/2000 000 Policy Number: GL 9045573 Insured Name: ACE VENTURA CONSTRUCTION, INC. 4 5 6 7 8 9 State Class Code Entity: 0001 Name Location: 07/18/1999 03/29/1999 07/21/1999 05/26/1999 06/02/1999 07/19/1999 Audit Worksheet Dept 0001 $3,000 $1,700 $600 $390 $590 $2,210

Audit Date: 02/23/2000 Physical Audit Period: 01/24/1999 01/24/2000 Policy Period: 01/24/1999 01/24/2000 Labor Labor & Material Labor Labor Labor Labor & Material Empl. Dates Total

Gross Payroll MD Gross Payroll 01/24/99 01/24/00 98,440 Notes: SALARIES PLUS OFFICERS SALARY FROM P & L WAS $1,240 LESS THAN THE QUARTERLY REPORTS (BOTH FEDERAL 941 AND STATE UNEMPLOYMENT); THEREFORE, ACCORDING TO MANUAL RULES AUDITOR HAS USED HIGHEST FIGURE WHICH IS THE ADJUSTMENT TO THE GROSS PAYROLL. Lump Sum: 97,200 Adjustment: 1,240 Total Gross Payroll Principals MD 91340 ACE VENTURA Duties: CARPENTRY Lump Sum: Other Remuneration MD 91340 CASUAL LABOR FROM P & L Duties: CARPENTRY Lump Sum: 01/24/99 7,302 01/24/00 Adjustment: 7,302 0 7,302 01/24/99 28,800 01/24/00 Adjustment: 28,800 0 28,800 98,440

Total Principals

Total Other Remuneration General Notes IN SPEAKING TO THE AGENT, SHEILA JOY, THE INSURED IS NOT RESTRICTED TO INTERIOR TRIM; THEREFORE, #91340 - RESIDENTIAL CARPENTRY IS THE CORRECT CLASSIFICATION. CODE #91341 CARPENTRY: INTERIOR TRIM IS NOT APPLICABLE. THERE ARE 15 LISTED SUBCONTRACTORS AND THE ACCOUNTANT DOES NOT KEEP CERTIFICATES OF INSURANCE ON FILE. CONTACTED THE INSURED LEAVING A MESSAGE ON AN ANSWERING MACHINE FOR THEM TO CALL AUDITOR FOR SPECIFICS ON TYPE OF WORK PERFORMED BY EACH SUB AND TO INDICATE IF THEY CAN FORWARD A CERTIFICATE OF INSURANCE FOR THOSE WHO MAY BE INSURED. INSURED PHONED BACK AND MAY BE ABLE TO GET CERTIFICATES AND WILL FORWARD IF HE CAN DO SO. ALSO, CONTACTED THE AGENT AND SENT A LIST, WITH AMOUNTS PAID, FOR ASSISTANCE TO OBTAIN ALL NECESSARY CERTIFICATE INFORMATION FOR THESE SUBCONTRACTORS IF THEY INDEED CAN BE OBTAINED. Entity Loc 0001 0001 GROSS RECEIPTS FOR THE POLICY YEAR WERE $401,972. INCREASE IN ACTUAL VS. ESTIMATED EXPOSURES DUE TO INCREASE IN WORK AND PAYROLL TO HANDLE THE ADDITIONAL WORK. ALSO, AUDIT UNCOVERED CASUAL LABOR WHICH IS ADDED AS APPLICABLE EXPOSURE WITH THE PAYROLL CLASSIFICATION. ADDITIONALLY, THERE ARE UNINSURED SUBS; AUDITOR THINKS SOME ARE PIECE WORKERS OR SIMPLY INDIVIDUALS WITH NO INSURANCE OF THEIR OWN AND THEREFORE HAVE BEEN PICKED UP AS ADDITIONAL EXPOSURE. SEE INDIVIDUAL NOTES FOR EACH SUB IN SUBCONTRACTORS SECTION OF AUDIT. SPOKE SUBSEQUENTLY TO THE INSURED

Date Printed: 08/11/2000 11:41:23AM

Regional Underwriters

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Account Number: EI - GL 9045573 07/09/2000 000 Policy Number: GL 9045573 Insured Name: ACE VENTURA CONSTRUCTION, INC.

Audit Date: 02/23/2000 Physical Audit Period: 01/24/1999 01/24/2000 Policy Period: 01/24/1999 01/24/2000

AND THERE MAY BE 4 SUBS HE CAN OBTAIN CERTIFICATES FOR. IF SO HE WILL FORWARD. ADDITIONAL TIME ON AUDIT DUE TO PREVIOUS MENTIONED CONDITIONS ENCOUNTERED FOR THIS AUDIT AND SUBSEQUENT COMMUNICATIONS WITH THE INSURED AND AGENT TO CLARIFY ANY INFORMATION NECESSARY TO AN ACCURATE AUDIT. TOOK TIME TO COMPLETE DETAILS FOR SUBCONTRACTOR INFORMATION. Location: 0001 Entity: 0001 Condition of Records: Good Cooperative Cooperation: Records Requested/Audited R A Description Entity: 0001 Location: 0001 P&L SUBCONTRACTOR SUMMARY / DISBUR R A Description Sales Journal Cash Disbursements Checkbook Job Costs Sheet Receipts Journal Summaries Financial Statement

: : Social Security (Fed 941's) Sales Tax Reports : : State Unemployment Reports Individual Payroll Cards Payroll Book (Listings) General Ledger Certificates of Insurance

R A Description

::

:: ::

Date Printed: 08/11/2000 11:41:23AM

Regional Underwriters

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Account Number: EI - GL 9045573 07/09/2000 000 Policy Number: GL 9045573 Insured Name: ACE VENTURA CONSTRUCTION, INC. Notice to Underwriter Insured: ACE VENTURA CONSTRUCTION, INC. Policy Number: GL 9045573 Policy Period: 01/24/1999 - 01/24/2000 Entity Loc 0001 0001

Audit Date: 02/23/2000 Physical Audit Period: 01/24/1999 01/24/2000 Policy Period: 01/24/1999 01/24/2000

Exposure Variance (20% or more) DUE TO INCREASE IN PAYROLL FOR INCREASE IN WORK LOAD AND AUDIT UNCOVERED CASUAL LABOR AND UNINSURED SUBCONTRACTORS. Risk Incorrectly Classified INSURED IS NOT RESTRICTED TO INTERIOR TRIM WORK AND THEREFORE NOT QUALIFIED FOR THE INTERIOR CARPENTRY CLASSIFICATION. CORRECT CLASSIFICATION FOR THIS RISK IS #91340 - CARPENTRY: RESIDENTIAL CONSTRUCTION.

0001

0001

Date Printed: 08/11/2000 11:41:23AM

Regional Underwriters

Page 7 of 7

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