131 Devoe Street Condominium (The Devoe)

Amendment 3 Feb 5, 2021

This amendment changes the rules for selling and transferring licenses to exclusive-use Licensed Spaces, revises the Licensed Space Agreement's late-payment and termination terms, and updates the sponsor's attorney and escrow agent to Marans Newman Tsolis & Nazinitsky LLC.

• Licensee must give ten (10) days' written notice before selling or assigning a license
• Board of Managers consent required for license transfers, not to be unreasonably withheld or delayed (except transfers from Declarant or its Affiliate)
• Licensee may abandon a license on ten (10) days' notice and stop paying the License Fee, but remains liable for unpaid fees
• Delinquent licensees get a three-hundred sixty-five (365) day grace period before the license can be terminated
• Late fees on delinquent License Fees capped at One Hundred Fifty ($150.00) Dollars
• Sponsor's attorney renamed to Marans Newman Tsolis & Nazinitsky LLC (MNTN), which is now the Escrow Agent
• Escrow account renamed "The Marans Newman Tsolis & Nazinitsky LLC Attorney Escrow Account for The 131 Devoe Street Condominium"
• Daniel Weisz, Esq. is no longer an escrow account signatory; Jason Nazinitsky, Esq. is a signatory

Amendment 2 Nov 12, 2020

The sponsor declares the 131 Devoe Street Condominium plan effective after accepting purchase agreements for two units (20% of the building), and otherwise leaves the plan unchanged.

• Plan declared effective based on purchase agreements for 2 units, 20% of the units in the Building
• No purchase agreements counted toward effectiveness are subject to an outstanding right to rescind
• Unit 4B: purchase agreement dated 9/11/2020 counted toward effectiveness
• Unit PH: purchase agreement dated 11/4/2020 counted toward effectiveness
• Effectiveness affidavit by Sponsor's principal Steven Ferguson executed November 10, 2020, attached as Exhibit A
• Except as stated, the Plan remains unchanged

Amendment 1 Nov 25, 2019

This amendment moves the projected completion date to January 1, 2021, revises floor plans, appliances, and risks, sets advertised prices for some units, and updates the first-year budget.

• Projected completion and start of operations moved from September 1, 2019 to January 1, 2021; rescission offered only if the First Unit Closing does not occur by January 1, 2022 (for buyers signing after this amendment)
• Advertised prices set for Units 2A ($1,675,000), 3A ($1,725,000) and 4A ($1,775,000), and for eight storage units
• Units 2B, 3B and 4B have lot line windows that may be blocked and require removal if the neighboring property at 129 Devoe Street is built on
• Parking Units 7 and 8 inaccessible behind an 8-foot construction fence for about 6 months, possibly longer
• First-year electricity charges increased from $19,442.00 to $34,582.00; gas charges eliminated
• Management fee removed for the first year (Sponsor pays); estimated $9,900 for the following year
• Reserve fund decreased from $7,200.00 to $6,790.22
• Kitchens and closets relocated in Units 2B, 3B and 4B; PH unit layout changed; cellar storage cages reduced from 10 to 8; stackable Whirlpool washers and dryers, with dryers no longer vented