Clifton Place Condominium

Amendment 5 Mar 22, 2012

Plan declared effective after six units (15.00% of units offered) accepted purchase agreements; sponsor remains responsible for all expenses and permanent Certificates of Occupancy until collecting common charges from all units.

• Six units (15.00% of units) have accepted purchase agreements
• Plan declared effective as of March 22, 2012
• No closings until permanent Certificate of Occupancy obtained for each building
• Sponsor responsible for all condominium expenses until collecting common charges from all units
• Sponsor must maintain service levels and accumulate reserves for major expenses without supplementary assessments
• Sponsor must prepare certified financial statement after first year of operation
• Sponsor to regularly amend offering plan with current certified budget during sponsor payment period

Amendment 4 Jan 25, 2012

First year of condominium operation projected as July 1, 2012 through June 30, 2013; real estate tax benefits implemented; budget and Schedule A revised accordingly.

• First year of condominium operation: July 1, 2012 through June 30, 2013
• Real Estate Tax Benefits received and implemented
• Schedule B budget remains unchanged at $95,931
• Revised Schedule A and Exhibit I reflecting tax benefits
• New provision added to Condominium Declaration (Item 23(c)) regarding mortgagee priority rights
• Offering Plan extended for additional six (6) months