Is it accurate that when the 90-day window public notice is issued, the FCC will only select the top 3 applicants (based on local community dates), and the other top-scoring applicants will be dismissed?

No, that’s not accurate. In an MX (mutually exclusive) group, all equally qualified applicants will be considered tentative selectees. The local community presence dates will only come into play as a tiebreaker if the group defaults and a settlement or time-sharing agreement cannot be reached. In other words, the FCC will generally select all equally qualified applicants as tentative selectees to promote fairness and inclusivity in the process.