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$3k is likely to do hoses you cannot see or easily access. I spent about $4k in maintenance when I got my F10 550 which included the leaky topside hoses as well as ones very hard to access, trans and diff fluid. That car also has a similar problem with turbo coolant hoses and also plastic T junction connectors disintegrateing for the heat.
The M5 recall is only for the hoses under the beauty cover on the turbos, so this job only should not cost much even if you pay the entire amount. Sounds like a good independent bmw shop isn't an option in your area unfortunately.
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