Century Tower Condominium

Amendment 4 Nov 28, 2023

This amendment updates Century Tower's unsold-unit counts, the sponsor's monthly costs and rental income, the first Board of Managers, and the budget date, and extends the plan's use for six months after filing acceptance.

• As of November 20, 2023: 10 unsold residential units and 1 residential unit in contract, 5 unsold commercial units not in contract, and 1 parking unit not in contract
• Exhibit A lists current prices, estimated monthly common charges, and estimated monthly real estate taxes for the unsold units, with prices from $698,300 to $2,980,000
• Sponsor pays $ 8,741,44 per month in common charges and real estate taxes for the 15 unsold, unoccupied units
• Three unsold residential units are leased by the sponsor for $7,350.00 per month in total
• Budget for June 1, 2023 – May 31, 2024 unchanged apart from an updated date; total expenses $183,536
• First Board of Managers named as Gina Young, Bor Su Yang, and Pei Yen Yang, all principals of or affiliated with the sponsor
• Sponsor's majority control of the board lasts until three years after the first residential closing or 30 days after closing 75% of residential units, whichever is earlier
• Plan may be used for six months from the date this amendment is accepted for filing, then extended by a further amendment

Amendment 3 Jan 13, 2023

This amendment reports the building's closing and occupancy dates, sponsor-control and common-charge timing, and that the building is not currently eligible for 421-a tax benefits because the blended assessment exceeds $65,000.

• Not currently eligible for 421-a tax exemption: blended assessment exceeds $65,000; DoF appeal filed in or about February 2023
• Purchasers have not paid the $3,000 421-a contribution at closing
• Sponsor expects to begin collecting common charges on or about July 1, 2023, with 30 days' written notice
• Working capital of $1,362 as of January 13, 2023, held at CTBC Bank, USA
• 16 residential units not in contract as of January 13, 2023; Exhibit B lists their prices
• Sponsor retains Board majority; first Board: Gina Young, Bor Su Yang, Pei Yen Yang
• Plan may be used for six (6) months from the date this Amendment is accepted for filing
• First closing (Unit 5B) January 11, 2023; Final Certificate of Occupancy issued May 19, 2023

Amendment 2 Aug 2, 2022

The sponsor declared the Century Tower Condominium plan effective on July 22, 2022, with 6 of 30 homes under contract, and expects the first closing on or about October 1, 2022.

• Plan declared effective July 22, 2022, with Purchase Agreements for 6 of 30 Residential Units (approximately 20%)
• First closing anticipated on or about October 1, 2022
• Units 3B, 3E, 6A, 7A, 7C and 8D counted toward effectiveness, with contracts dated 07/07/2022 to 07/20/2022
• Budget unchanged; Certification of Adequacy of Budget from Oakmont Insurance Services LLC included as Schedule L-3
• Sponsor must meet all Section XVII requirements before closing title to individual homes
• Plan may be used for six (6) months from the date the amendment is accepted for filing, then must be extended by further amendment

Amendment 1 Jun 7, 2022

The Sponsor has lowered the prices of several Units, and an updated price schedule is attached as Exhibit A; prices of Units already under contract are not changed.

• Prices decreased for several Units
• Updated pricing schedule attached as Exhibit A
• Prices not changed for any Unit currently under contract
• Schedule A first-year estimates cover September 1, 2022 to August 31, 2023