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5 <br />2.2.4 Exterior Dry Coating <br />The tower was built and the exterior, with the exception of the roof, was <br />last coated in 1992. According to the owner's records, the coating on the <br />roof was completely replaced in 2012. The exterior coating appears in <br />good to excellent condition, with less than two percent overall coating <br />failures with these failures randomly located. While the coating is now <br />22 years old and has achieved its intended service life, its condition <br />indicates that it has the ability to provide adequate corrosion protection <br />for an additional five to seven years. However, to facilitate interior <br />coating replacement and structural modifications, spot coating repairs <br />will be required in conjunction with the interior coating replacement. <br />The remainder of the tower should be reinspected and reevaluated in <br />three to five years to determine when exterior coating replacement will <br />be required. See photos in Appendix A. <br />2.3 Repair and Reconditioning Cost Estimate <br />The costs for structural repairs, replacing the interior wet coating, and repairing <br />the interior dry and exterior coatings are estimated at $405,900.00. This estimate <br />is based on current pricing. For up-to-date competitive bids the project should be <br />bid 9 to 12 months before the scheduled starting date. <br />An experienced tank -coating contractor with the proper crew and equipment <br />should be able to complete the project in eight (8) weeks. At the time of <br />reconditioning, the tower will need to be drained and remain off-line during <br />interior structural modifications, abrasive blasting and painting. <br />2.4 Remaining Tank Life <br />Based on the inspection data, if the recommended structural repairs and coating <br />replacement are completed within the next 2 to 3 years, the tank will be <br />satisfactory for continued service provided that it is inspected and maintained <br />regularly. <br />The tank and coating should first be inspected within the warranty period and <br />every three to five years thereafter. New interior and exterior coatings, if applied <br />and maintained properly, should last at least 20 years. <br />