122 Newton Condominium

Amendment 3 2010

Plan declared effective, first closing scheduled, windows and doors certified compliant, warranty extended.

• Plan declared effective January 4, 2010 after one purchaser (20% of units) accepted
• First Unit Closing scheduled for March 24, 2010
• Windows and balcony doors from different manufacturer than defective units at sponsor's other buildings; engineer confirms compliance with Building Code
• Warranty on windows, curtain wall, terrace doors, entrance doors, and glass extended to June 5, 2011
• Temporary Certificate of Occupancy issued February 1, 2010, expires May 2, 2010

Amendment 2 Nov 4, 2009

Amendment sets first unit closing for March 1, 2010 and provides first-year budget of $33,000 in common charges.

• First Unit Closing anticipated March 1, 2010
• First Year of Condominium Operation: March 1, 2010 through February 28, 2011
• Annual Common Charges: $33,000.00
• Management fee: $6,000 annually with ALG NY Management LLC for three-year term
• Insurance coverage: $2,054,000 building replacement cost with $1,000 deductible
• Labor: one non-resident part-time superintendent at $6,339.00 annually
• Individual units responsible for own heating fuel and air conditioning costs

Amendment 1 Apr 28, 2009

Unit prices decreased and building specifications updated including roof terraces, appliances, and amenities.

• Unit prices decreased: Unit 1 $1,175,000.00, Unit 2 $1,045,000.00, Unit 3 $1,070,000.00, Unit 4 $1,095,000.00, Unit 5 $1,145,000.00
• Four private roof terraces added for Units 2, 3, 4, and 5 as Limited Common Elements
• Four storage rooms in cellar designated for Units 2-5 as Limited Common Elements
• Each unit includes iPOD Docking Station (iPort 1W-2), ceiling speakers (Sonance TL 622R), and amplifier (Yamaha RX V663)
• Unit 1 includes hot tub (Sumatran Ocean Wave Coastal Gray Model #N-1K1179) in rear yard
• Building substantially completed by April 30, 2009 with Temporary Certificate of Occupancy expected by May 31, 2009
• Natural Gas provided by National Grid; exterior rear walls brick veneer; balcony floors porcelain tiles
• Managing agent telephone number: (718) 718-925-8200
• Schedule A prices increased for 1 home (median +3.2%): 5 $1,109,500 → $1,145,000
• Schedule A prices decreased for 4 homes (median -3.6%): 1 $1,540,000 → $1,175,000; 2 $1,109,500 → $1,045,000; 3 $1,109,500 → $1,070,000; 4 $1,109,500 → $1,095,000