130 West 30th Street Condominium (The Cass Gilbert)

Amendment 6 Apr 20, 2006

Sixth amendment updates sponsor ownership status, financial statements for 2004, operating budget for 2006, and board composition as of December 2005.

• Sponsor owns all five Commercial Units; no Residential or Storage Units
• 2004 financial statement attached showing $3,217 net income for April 19–December 31, 2004
• 2006 operating budget attached for January 1–December 31, 2006
• Annual meeting held December 12, 2005; board members listed
• Sponsor current on all Common Charges, special assessments, and real estate taxes since April 2004 first closing
• H.J. Development LLC (Sponsor's managing member) involved in Heywood offering at 263 Ninth Avenue and Parkwood offering at 31-33 East 28th Street

Amendment 5 Nov 28, 2005

Commercial Units #1 and #2 offered for sale at $3,200,000 each.

• Commercial Unit #1 offered at $3,200,000.00
• Commercial Unit #2 offered at $3,200,000.00
• Sponsor retains right to retain ownership or sell units privately outside offering plan terms

Amendment 4 Jan 24, 2005

Fourth amendment updates sales status, real estate taxes, subdivides a commercial unit, modifies three residential unit layouts, and confirms the construction loan has been satisfied.

• As of November 11, 2004: 30 Residential Units and 7 Storage Units closed; Units 19A and 19B not yet contracted
• Condominium working capital approximately $72,738.82 as of December 30, 2004
• Real estate tax assessments in place for 2004/2005 tax year; tax amounts listed for all unsold units
• Commercial Unit 2 subdivided into Commercial Unit 2 and Commercial Unit 5 with same total common interest and square footage
• Units 19A, 19B, and 18A layouts modified due to field conditions; square footage areas unchanged
• Construction loan from Arbor Commercial Mortgage LLC satisfied; unsold and commercial units no longer encumbered by mortgage
• First annual meeting of Unit Owners held December 13, 2004; 9-member Board of Managers established
• Sponsor current on all financial obligations including Common Charges, special assessments, and real estate taxes since April 2004

Amendment 3 Oct 8, 2003

Third Amendment updates the projected first year of condominium operation to January 1–December 31, 2004, revises Schedule B budget and Schedule A common charges, and provides real estate tax projections.

• Projected First Year of Condominium Operation changed to January 1, 2004–December 31, 2004
• Schedule B updated: electricity, gas, water and sewer costs increased; contingency amount adjusted
• Schedule A revised with new Common Charge amounts based on updated First Year's Budget
• Construction Schedule references changed from July 2003/July 2004 to January 2004/January 2005
• Projected real estate taxes for entire Property: $436,350 for Projected First Year
• Real estate taxes to be paid by Sponsor; Purchasers adjust at Closings based on Pro Rata share by offering price
• Tax escrow provisions added: if separate assessments not made by next half tax payment, Purchaser must escrow estimated Pro Rata share with Board of Managers

Amendment 2 Sep 25, 2003

Prices of multiple units increased across all unit types.

• Unit prices increased across Lines A, B, and C
• Prices range from $940,000 to $3,850,000
• Existing purchase agreements retain original signed prices
• Schedule A prices increased for 41 homes (median +5.7%): Unit 2A $875,000 → $940,000; Unit 2B $1,150,000 → $1,200,000; Unit 2C $995,000 → $1,020,000; Unit 3A $890,000 → $955,000; ...

Amendment 1 Sep 2, 2003

Prices of certain units have been increased.

• Unit prices increased across A Line, B Line, and C Line floors
• Price schedule revised as of August 2003
• Existing purchase agreements not affected by new prices
• Schedule A prices increased for 39 homes (median +3.8%): Unit 2A $860,000 → $875,000; Unit 2B $1,100,000 → $1,150,000; Unit 2C $975,000 → $995,000; Unit 3A $875,000 → $890,000; ...
• Schedule A prices decreased for 1 home (median -0.4%): Unit 11C $1,230,000 → $1,225,000