12 East 88th Street Condominium

Amendment 31 Sep 3, 2025

The amendment moves down payment escrow to Webster Bank with D'Agostino, Lederman, Landesman, Rivera & Miraglia, LLP as escrow agent, updates title insurance rates and Unit PH14 closing fees, discloses that unsold Unit PH14 has no storage bin and is subject to two Declaration amendments, reports the Sponsor's lawsuit against the Board resolved, and attaches the 2025 budget and 2023–2024 audited financial statements.

• Escrow Bank changed to Webster Bank, One Jericho Plaza, Jericho, New York 11753; Escrow Agent is D'Agostino, Lederman, Landesman, Rivera & Miraglia, LLP
• Unit PH14 has no assigned Storage Bin
• Unit PH14 closing: Unit Closing Fee of $4,000.00; Unit Financing Administration Fee of $500.00 if financed
• Title insurance rate schedules updated (Section 7(A))
• Unit PH14 title subject to First Amendment to Declaration (CRFN No. 2019000230748) and Second Amendment to Declaration (CRFN No. 2023000121904)
• Sponsor's lawsuit against Board of Managers (Index Number 651879/2023) resolved and discontinued
• Condominium Budget for 2025 attached as Exhibit B; audited financial statements for 2023 and 2024 attached as Exhibit C
• Working Capital Fund approximately $310,246.69 and Reserve Fund approximately $754,586.14 as of August 13, 2025

Amendment 30 Nov 26, 2024

This amendment updates the plan with the Successor Sponsor's unsold units, storage bins, carrying costs, mortgages, 2024 budget, 2022-2023 financial statements, and Board of Managers roster.

• Successor Sponsor BH Karka, LLC holds the unsold units and storage bins listed in Exhibit A
• Monthly common charges for unsold units are $14,426.00 and real estate taxes are $12,137.00, as of November 1, 2024
• Monthly rents from tenants of unsold units are approximately $14,154.00, as of November 1, 2024
• UBS mortgage of approximately $1,837,500 at 3.00% interest only, maturing January 2050; Morgan Stanley mortgage of approximately $4,205,000 at 3.45% interest only, maturing January 2050
• 2024 Operating Budget annexed as Exhibit B
• 2022 and 2023 financial statements annexed as Exhibit C
• Board of Managers members listed; Successor Sponsor does not control the board
• Plan may be used for twelve months from the date the amendment is accepted for filing

Amendment 28 Nov 15, 2023

Successor sponsor BH Karka, LLC updates the plan with its unsold units, their monthly carrying costs and rents, two interest-only mortgages, the operating budget, financial statements, and board members, and sets a 12-month period for using the plan.

• Successor Sponsor BH Karka, LLC holds the unsold units and storage bins scheduled in Exhibit A, with rent-stabilized (RS) or fair market (FM) status shown
• As of October 1, 2023, sponsor's unsold units carry $13,690 monthly common charges and $12,285 monthly real estate taxes
• As of October 1, 2023, tenants of sponsor's unsold units pay approximately $14,447 monthly in rent
• UBS mortgage of approximately $1,837,500 at 3.00% interest only, maturing January 2050, monthly interest $4,594
• Morgan Stanley mortgage of approximately $4,205,000 at 3.45% interest only, maturing January 2050, monthly interest $12,056
• Text says 2024 Operating Budget is annexed as Exhibit B, but the exhibit is labeled 2023 Budget for year ending 12/31/23
• Audited financial statements for years ended December 31, 2022 and 2021 annexed as Exhibit C
• Plan may be used for 12 months from acceptance of this amendment, extendable by further amendment

Amendment 27 May 19, 2023

The sponsor reports it still owns one unsold unit (PH14, offered at $15,500,000.00), states current common charges and real estate taxes for it, confirms it is not renting the unit, and provides 2019 audited financials, the 2023 budget, and July 6, 2023 working capital and reserve fund balances.

• Sponsor owns 1 unsold unit, PH14, offered at $15,500,000.00
• Sponsor's monthly Common Charges on the unsold unit are approximately $6,593.60
• Sponsor's monthly real estate taxes on the unsold unit are approximately $5,921.83
• Sponsor is not renting the unsold unit
• Audited financial statements for 2019, 2020 and 2021 attached as Exhibit B; 2022 audit not yet available
• Condominium Budget for the year 2023 attached as Exhibit C
• Working Capital Fund approximately $107,489.18 as of July 6, 2023
• Reserve Fund approximately $3,326,096.16 as of July 6, 2023

Amendment 26 Nov 15, 2022

This amendment names BH Karka, LLC as successor sponsor of the unsold units and updates their carrying costs, mortgages, 2022 budget, financial statements and board list.

• Unsold units now owned by Successor Sponsor BH Karka, LLC, with storage bins listed in Exhibit A
• As of October 1, 2022: sponsor's monthly common charges $12,252, real estate taxes $11,650, and tenant rents approximately $14,935
• UBS mortgage of approximately $1,837,500 at 3.00%, interest only, maturing January 2050, monthly interest $4,594
• Morgan Stanley mortgage of approximately $4,205,000 at a blended 3.45%, interest only, maturing January 2050, monthly interest $12,056
• 2022 Operating Budget annexed as Exhibit B: total income and total expenses both $1,380,809
• Financial statements for years ended December 31, 2021 and 2020 annexed as Exhibit C
• Board of Managers membership listed; Successor Sponsor states it does not control the board
• Plan may be used for twelve (12) months from the date the amendment is accepted for filing, extendable by further amendment

Amendment 25 Mar 28, 2022

The amendment discloses that the sponsor still owns one unsold unit, PH14, offered at $15,500,000.00, attaches the 2022 operating budget and 2018 audited financial statements, reports reserve balances, and discloses an unresolved lawsuit with PH14's occupant.

• Unsold Unit PH14 offered at $15,500,000.00, and not offered to the general public
• Sponsor's pending lawsuit against the occupant of PH14 (Barry Fox and MBE Ltd.) for arrears of $2,632,500, plus interest, and for possession, not yet adjudicated
• 2022 operating budget attached (Exhibit B), with total income and expenses of $1,380,809
• Audited financial statements for 2019, 2020, and 2021 not yet available; Sponsor will amend the Plan when they are
• Working Capital Fund approximately $105,656.48 as of March 8, 2022
• Reserve Fund approximately $3,800,000.00 as of March 8, 2022
• Sponsor's monthly Common Charges for unsold units approximately $5,874.77, and monthly real estate taxes approximately $5,611.85
• Board of Managers membership listed: David Eshaghpour, Daniel Etra, Howard Blaustein, and Maeve Ives (Sponsor Designee)

Amendment 24 Nov 23, 2021

This amendment names BH Karka LLC as Successor Sponsor holding 12 unsold units, updates their carrying costs, mortgages and rents, requires buyers to reimburse two months' common charges at closing, and adds a 2021 budget.

• Successor Sponsor BH Karka LLC holds 12 unsold units and 12 storage bins (Exhibit A)
• Buyers must pay Successor Sponsor 2 months' common charges per unsold unit at closing, as reimbursement of its $29,434.00 working capital contribution
• Sponsor's aggregate monthly common charges for unsold units: $11,265; real estate taxes: $11,681 (as of November 1, 2021)
• UBS mortgage of approximately $1,837,500 at 3.00%, interest only, maturing January 2050; monthly interest $4,594
• Morgan Stanley mortgage of approximately $4,205,000 at 3.45%, interest only, maturing January 2050; monthly interest $12,056
• Aggregate monthly rents from tenants of unsold units: approximately $14,670 (as of November 1, 2021)
• 2021 operating budget added (Exhibit C): total expenses $1,329,253, deficit $(50,191), covered by a $50,190 sponsor capital true-up
• Plan may be used for 12 months from acceptance of this amendment; FY2020 financial statement not yet available

Amendment 23 2021

This amendment lists the four unsold units and their offering prices, attaches the 2021 operating budget, reports the working capital and reserve fund balances, discloses litigation with the occupant of Unit PH14, and notes that audited statements for 2018 and 2019 are not yet available.

• Four unsold units offered at prices in Exhibit A, including Unit PH14 at $15,500,000.00 (not offered to the general public)
• Sponsor suing the occupant of Unit PH14 (Barry Fox and MBE Ltd.) for arrears in use and occupancy payments of $2,632,500, plus interest, and for possession
• 2021 Condominium Operating Budget attached as Exhibit B, for year ending 12/31/21
• Working Capital Fund approximately $150,206.45 and Reserve Fund approximately $3,840,178.06 as of February 22, 2021
• Aggregate monthly Common Charges on unsold units approximately $14,039.47; monthly real estate taxes approximately $14,707.67
• Audited financial statements for 2018 and 2019 not available; Sponsor will amend the Plan when they become available
• Board of Managers membership listed, including two Sponsor designees
• Managing agent identified as First Service Residential New York Inc.

Amendment 22 2020

The amendment updates the status of the 10 unsold units, adds a 2021 budget and mortgage details, changes sponsor counsel and the $3,000.00 buyer legal fee, and revises the down payment escrow procedures.

• 10 unsold units (4 free market, 6 rent stabilized) disclosed as of November 1, 2020, with monthly common charges of $13,185, taxes of $14,712, and rents of $14,670
• Unsold units held by three lenders, including W Financial Fund, LP at 8% maturing February 15, 2021
• Forchelli Deegan Terrana LLP substituted as sponsor counsel; purchasers pay $3,000.00 in legal fees at each unit closing
• Forchelli Deegan Terrana LLP named as escrow agent, with deposits held at Valley National Bank
• Revised deposit notice and release procedures, including a 90-day cancellation right if notice is not received within 15 business days
• 2021 operating budget attached as Exhibit B
• 2019 financial statements not yet available
• Board of Managers members listed; sponsor does not control the board

Amendment 21 Nov 5, 2020

The sponsor lowers or sets a new offering price for one unit, TH-1, and the change does not affect purchase agreements already in effect.

• Offering price of unit TH-1 set at $2,395,000.00
• Price change does not affect Purchase Agreements in effect as of the amendment date
• No other material changes to the Plan

Amendment 20 Jul 14, 2020

The amendment changes the offering prices of five unsold units (TH-1, TH-2, 1A, 10A and PH14) as set out in amended Schedule A, and the new prices do not affect purchase agreements already in effect on the amendment date.

• Offering price of unit TH-1 is $2,695,000.00
• Offering price of unit TH-2 is $7,495,000.00
• Offering price of unit 1A (Super's Unit) is $2,000,000.00
• Offering price of unit 10A is $6,295,000.00
• Offering price of unit PH14 is $15,500,000.00; PH14 is not offered to the general public (see "Special Risks")
• Price changes do not affect Purchase Agreements in effect as of the amendment date
• Schedule A prices decreased for 1 home (median -6.7%): 10A $6,750,000 → $6,295,000

Amendment 19 Feb 12, 2020

This amendment lists the 7 unsold units still held by the sponsor with their prices, updates the sponsor's carrying costs and reserve figures, reports a pending lawsuit over Unit PH14, and notes that the 2020 budget and 2018-2019 audited financials are not yet available.

• Seven unsold units offered at the prices in Exhibit A, from $2,000,000.00 (1A) to $15,500,000.00 (PH14)
• Unit PH14 is not offered to the general public and is in litigation for unpaid use and occupancy; Sponsor reserves the right to offer it later
• Sponsor's aggregate monthly Common Charges on unsold units are approximately $24,172.00
• Sponsor's aggregate monthly real estate taxes on unsold units are approximately $27,576.63
• Sponsor funds shortfalls from sales, rents and other assets, with no bond or security provided
• 2020 Condominium Budget not available; 2019 budget attached as Exhibit B
• Audited financial statements for 2018 and 2019 not available; Sponsor will amend the Plan when they are
• Working Capital Fund approximately $121,413.17 and Reserve Fund approximately $3,247,074.42, both at Bank of the Ozarks

Amendment 18 Sep 27, 2019

The Sponsor changes the offering prices of 8 unsold units as listed in amended Schedule A, and these price changes do not affect Purchase Agreements already in effect.

• Unit TH-1 offering price: 2,950,000.00
• Unit TH-z offering price: 7,495,000.00
• Unit 1A (Super's Unit) offering price: 2,000,000.00
• Unit 2C offering price: 2,s9s,000.00
• Unit 7A offering price: 5,995,000.00
• Unit 9A offering price: 6,495,000.00
• Unit 10A offering price: 6,750,000.00
• Unit PH14 offering price: 15,500,000.00 (not offered to the general public)
• Schedule A prices decreased for 2 homes (median -7.7%): 7A $6,495,000 → $5,995,000; 10A $7,350,000 → $6,750,000

Amendment 17 Sep 9, 2019

This amendment discloses Modlin Group LLC and Brown Harris Stevens Residential Sales LLC as Selling Agents and replaces the plan's closing-cost transfer tax section with updated New York State and New York City transfer tax rules and an example of estimated closing costs.

• Modlin Group LLC and Brown Harris Stevens Residential Sales LLC disclosed as Selling Agents
• Both Selling Agents paid fees by Sponsor for Unit sales and have no financial relationship to the Building or Sponsor otherwise
• Closing-cost transfer tax subsection (e) and example replaced for closings on or after July 1, 2019 where the Purchase Agreement was executed after April 1, 2019
• State transfer tax and progressive Mansion Tax rates added, ranging from 1% to 3.9% by consideration
• NYC RPT rate stated as 1% up to $500,000 and 1.425% above $500,000 for a single Unit
• Multiple-Unit purchases from one seller stated at 1.425% or 2.625% of consideration
• Example closing costs for a $2,000,000 Purchase Price and $1,600,000 mortgage show total estimated closing costs of $107,018.01
• Sponsor's attorney closing fee in the example is $2,850

Amendment 16 Jun 20, 2019

This amendment makes BH KARKA, LLC the successor sponsor for 12 unsold units and 12 storage bin licenses, and adds its party, escrow, and purchaser-default terms.

• BH KARKA, LLC acquired the 12 residential units and 12 storage bin licenses on July 25, 2017 and now offers them for sale as Sponsor
• Successor Sponsor and its principal, Ely Dromy, added to Identity of Parties
• Herrick, Feinstein LLP added as counsel to the Successor Sponsor
• Herrick, Feinstein LLP named escrow agent for the Successor Sponsor and Purchaser
• Escrow account opened at Centennial Bank, earning approximately 1.5% to 2% per annum
• Default by Purchaser of a Successor Sponsor Unit section replaced, with a 30-day cure period and Liquidated Sum retained on cancellation
• Late closing fee of 0.0411% per day of the unpaid Purchase Price added

Amendment 15 Jun 6, 2019

The Sponsor sets new offering prices for nine unsold units, as shown in the amended Schedule A (Exhibit A), and the changes do not affect purchase agreements already in effect.

• Offering prices set for 9 unsold units, from 2,000,000.00 (Unit 1A, Super's Unit) to 15,500,000.00 (Unit PH14)
• Price changes do not affect Purchase Agreements in effect as of the date of this Amendment
• Exhibit A also lists each unit's monthly common charges and monthly real estate taxes
• Unit PH 14 is not being offered for sale to the general public; see the Plan's "Special Risks" section
• No other material changes to the Plan, except as set forth in this Amendment
• Schedule A prices increased for 1 home (median +7.3%): 10A $6,850,000 → $7,350,000
• Schedule A prices decreased for 2 homes (median -3.1%): 2C $3,475,000 → $2,595,000; 7A $6,700,000 → $6,495,000

Amendment 14 Apr 16, 2019

The amendment moves a cellar storage room from Unit TH-1 to Unit PH11A, which changes the square footage, common interest, common charges and estimated real estate taxes for both units.

• Cellar storage room moved from Unit TH-1 to Unit PH11A
• Square footage, common interest, common charges and estimated real estate taxes amended for TH-1 and PH11A
• Schedule of unsold units updated (Exhibit A)
• Amended floor plans for TH-1 and PH11A added (Exhibit B)
• Updated 339-i letter on common interest allocation added (Exhibit C, dated March 5, 2019)
• Real estate taxes are estimates and not guaranteed; NYC Department of Finance apportionment anticipated by July 1, 2019

Amendment 13 Mar 6, 2019

This amendment reports the sponsor's nine unsold units and their carrying costs, the concluded Unit PH14 rent litigation and a pending sponsor lawsuit, a new smoking policy, an updated FinCEN disclosure, a gas-service issue in two units, current fund balances, and that the 2019 budget and financial statement are not yet available.

• Sponsor owns 9 Unsold Units, offered at the prices in Exhibit A
• Aggregate monthly Common Charges on Unsold Units approximately $31,903.00; monthly real estate taxes approximately $33,720.12
• Unit PH14 rent-stabilization case concluded: court ruled not rent stabilized, no overcharges
• Sponsor's separate suit against MBE Ltd. for $2,632,500 plus interest in use and occupancy arrears not yet adjudicated
• Smoking prohibited in common elements; permitted in units and limited common elements as allowed by law; Purchase Agreement and Residential Rules revised
• Updated FinCEN Geographic Targeting Order disclosure added to Purchase Agreement; order runs until May 15, 2019, subject to change
• Gas service for cooking ranges locked in Units 2C and 9A; Sponsor scheduling Con Edison inspections
• Working Capital Fund approximately $106,580.81; Reserve Fund approximately $2,815,510.65; 2019 budget not available, 2018 budget attached as Exhibit B

Amendment 12 Nov 9, 2018

The Sponsor lowers the asking prices of seven unsold units, with the new prices shown in the table; the changes do not affect purchase agreements already in effect.

• Prices of 7 unsold units reduced: TH1 from $3,950,000.00 to $3,150,000.00
• TH2 from $8,950,000.00 to $8,550,000.00
• 2C from $3,250,000.00 to $2,995,000.00
• 7A from $7,550,000.00 to $6,995,000.00
• 9A from $9,700,000.00 to $7,150,000.00
• 104 from $7,950,000.00 to $7,350,000.00
• PH1A from $12,500,000.00 to $11,500,000.00
• Price changes do not affect Purchase Agreements already in effect

Amendment 11 May 24, 2018

The Sponsor lowers the offering price of unsold unit PH11A from $14,500,000.00 to $12,500,000.00, and the change does not affect Purchase Agreements already in effect.

• Price of unsold unit PH11A lowered from $14,500,000.00 to $12,500,000.00
• Price change does not affect Purchase Agreements in effect as of the amendment date

Amendment 10 2018

The Tenth Amendment reports that the Sponsor's construction loans were assigned from Bank of the Ozarks to MSD PCOF Partners I, LLC (MSD), which will release each Unit's lien at closing upon payment of the required partial release price, and that the Plan now refers to MSD as lender.

• Sponsor's lender changed from Bank of the Ozarks to MSD PCOF Partners I, LLC, effective March 29, 2018 (assignment of Project Loan, Senior Loan and Building Loan agreements)
• MSD loan principal amount is $92,497,897
• Each Unit's lien under the MSD loan released at its closing of title, provided Sponsor pays the required partial release price
• Mezzanine Loan from RCGL 88 Street Mezzanine Funding, LLC satisfied on March 29, 2018
• All references to Sponsor's Lender in the Plan replaced with MSD, as lender

Amendment 9 Apr 17, 2018

The sponsor updates the 2015 offering plan for 12 East 88th Street Condominium with unsold-unit prices and carrying costs, a new selling agent, the 2018 first-year budget, gas and elevator status, and revised purchase agreement terms.

• 18 unsold units offered at prices totaling $128,975,000.00 (Exhibit A)
• Sponsor's aggregate monthly Common Charges on unsold units approximately $60,087.74; monthly real estate taxes approximately $63,585.90
• Litigation over unit PH14 disclosed; MBE Ltd. monthly rent $27,500.00 and rent arrears approximately $1,036,000.00
• Corcoran Group Marketing replaces Douglas Elliman Real Estate as Selling Agent
• Gas service restored to all units except THI, 1C, TH2, 2C, 5B, 9D, 10B, PHIIA; restoration expected May 2018
• Passenger elevator upgrade complete
• Purchase agreement form amended: removes Plan-effectiveness condition, updates FIRPTA requirements, adds money laundering and Geographic Targeting Order disclosures
• First-year budget for January 1, 2018 to December 31, 2018 attached as Exhibit B; Working Capital Fund approximately $45,158.00

Amendment 8 Mar 9, 2018

The amendment changes the offering prices of certain unsold units, as shown on the amended Schedule A (Exhibit A), without affecting purchase agreements already in effect.

• Offering prices of certain unsold units changed per amended Schedule A (Exhibit A)
• Price changes do not affect Purchase Agreements in effect as of March 9, 2018
• No other material changes to the Plan except as set forth in this Amendment

Amendment 7 Oct 30, 2017

The Seventh Amendment changes the offering prices of certain unsold units, as shown in the amended Schedule A, without affecting purchase agreements already in effect.

• Offering prices of certain unsold units amended, per amended Schedule A (Exhibit A)
• Price changes do not affect purchase agreements in effect as of the amendment date
• No other material changes to the Plan, per the amendment

Amendment 6 Jun 7, 2017

The amendment reports the first unit closing and sales status, transfers 11 tenanted units to BH Karka, LLC, reduces first-year Common Charges, and updates unit combinations, pricing, storage bins, and building conditions.

• First Unit Closing held August 4, 2017; as of August 28, 2017, 15 Units sold and conveyed and 24 Unsold Units not yet conveyed, 7 of which are subject to executed Purchase Agreements
• Gas service shut down by Con Edison on or about November 30, 2016; Sponsor anticipates restoration on or about November 15, 2017
• Units 1B, 2B, 3B, 3F, 4C, 4E, 5F, 7E, 8D, 9B and PH11B conveyed to BH Karka LLC, which replaces 12 East 88th LLC as sponsor for those Units
• Total monthly Common Charges for the Building decreased by $4.00 in the amended first-year budget
• Units 12A, 12C and 12D combined into Unit PH12A; Unit TH-2 offered at $9,900,000.00
• Purchasers' contribution toward the Board of Managers' purchase of Unit 1A plus estimated closing costs revised (Schedule A-3)
• Storage bin square footage and offering prices updated (Schedule A-2)
• Reserve Fund approximately $991,546.08 as of the submission date
• Schedule A prices increased for 19 homes (median +66.7%): 1A - Super $1,200,000 → $2,000,000; 1B $495,000 → $825,000; 2B $1,485,000 → $2,475,000; 2C $2,085,000 → $3,475,000; ...

Amendment 5 2017

The Fifth Amendment declares the 12 East 88th Street condominium offering plan effective on a non-eviction basis, based on seven accepted Purchase Agreements representing 17.94% of the 39 Units offered.

• Plan declared effective on a non-eviction basis by Notice dated February 22, 2017
• Seven Purchase Agreements (17.94% of the 39 Units offered) received from bona fide purchasers intending to occupy their units
• Closings cannot occur until a temporary certificate of occupancy covering the unit is issued and this amendment is accepted for filing by the New York State Department of Law
• No Purchase Agreements have been executed by bona fide tenants in occupancy

Amendment 4 2017

The amendment lets current tenants in occupancy buy the unit they live in during a 45-day exclusive period at forty percent (40%) less than its Schedule A price, with priority over any third-party buyer.

• Tenants in occupancy get a 45-day exclusive right to buy their unit, starting from the Presentation Date
• Purchase price for eligible tenants is forty percent (40%) less than the Schedule A price
• Eligibility: tenants must occupy the unit on the Presentation Date, not be in default under their leases, and not have signed a Purchase Agreement before the Presentation Date
• If the tenant's unit was sold to a third party, the tenant's Purchase Agreement takes priority and the third party's agreement is terminated with the down payment returned in full with interest
• Schedule A offering prices, common interests and projected first-year charges are attached as Exhibit A
• Sponsor states there are no other material changes to the Plan
• Schedule A prices decreased for 20 homes (median -40.0%): 1A - Super $2,200,000 → $1,200,000; 1B $825,000 → $495,000; 2B $2,475,000 → $1,485,000; 2C $3,475,000 → $2,085,000; ...

Amendment 3 2016

The amendment requires purchasers to contribute toward the Board's purchase of Unit 1A and closing costs, revises interim occupancy rules, changes unsold-unit prices, Common Interest, projected taxes and the first-year budget, and offers storage bin licenses.

• Purchasers must contribute toward the Board's purchase of Unit 1A plus estimated closing costs, per Schedule A-3; Board may impose a Special Assessment if contributions are insufficient
• Sponsor must declare the Plan effective after Purchase Agreements are fully executed for 32 Units (80%); previously may declare effective after 6 Units
• First year of Condominium operation amended to January 1, 2017 - December 31, 2017; Schedule B budget decreased 37.51%
• Offering prices of certain Unsold Units changed (does not affect Purchase Agreements in effect)
• Interim Use and Occupancy Agreements revised: six-month maximum term, vacant Units rentable only to their Purchaser once a Purchase Agreement is in effect, and not rent-stabilized
• Projected real estate taxes amended for all Units
• Percentage of Common Interest amended for each Unit
• 99-year Storage Bin licenses offered to Unit Owners, with a Down Payment of 10% of the license fee

Amendment 2 Jul 1, 2016

The Sponsor amends the offering prices of certain unsold units through a revised Schedule A (Exhibit A), and the changes do not affect purchase agreements already in effect.

• Offering prices of certain unsold units amended, as set forth in revised Schedule A (Exhibit A)
• Price changes do not affect Purchase Agreements in effect as of July 1, 2016
• Schedule A projections assume the first year of condominium operation is January 1, 2016 to December 31, 2016
• No other material changes to the Plan

Amendment 1 Dec 9, 2015

This First Amendment changes the offering prices of certain Unsold Units, as set out in an amended Schedule A (Exhibit A), and does not affect Purchase Agreements already in effect.

• Offering prices of certain Unsold Units amended per amended Schedule A (Exhibit A)
• Price changes do not affect Purchase Agreements in effect as of December 9, 2015
• No other material changes to the Plan