Tiffany D Condominiums

Amendment 4 Oct 21, 2008

Amendment discloses three unsold units with current prices, monthly charges, taxes, rents, and sponsor financial obligations as of filing date.

• Three unsold units: 1B at $975,000.00, 4A at $715,000.00, 4B at $705,000.00
• Monthly common charges for unsold units: $448.37 (1B), $348.73 (4A), $323.82 (4B)
• Aggregate monthly common charges for all sponsor units: $1,120.92
• Aggregate monthly rents from unsold units: $8,400.00
• Unsold units subject to Capital One Bank mortgage with $3,090.00 monthly payment
• Board of Managers consists of Tomer Yogev, Alexander Pustylnik, and Marshall Sohne
• December 31, 2007 financial statement and July 1, 2008 thru June 30, 2009 budget to be delivered when available
• Offering plan effective period extended from date of amendment

Amendment 3 2008

Amendment reports first unit closing, permanent certificate of occupancy, condominium declaration recording, working capital fund status, and unsold unit details with pricing and taxes.

• First Unit Closing (Unit 3) occurred February 27, 2008
• Permanent certificate of occupancy issued December 27, 2007
• Declaration of Condominium recorded February 5, 2008
• Working Capital Fund balance $1,265.42 held at Capital One
• Four residential units remain unsold: 1B, 2, 4A, 4B
• Unit 1B offered at $975,000.00, Unit 2 at $850,000.00, Unit 4A at $715,000.00, Unit 4B at $705,000.00
• Mortgage on unsold units: $1,154,353.00 principal, approximately $6,212.00 monthly interest-only, matures September 15, 2008
• Offering Plan effective period extended six months

Amendment 2 2008

This amendment declares the offering plan effective, clarifies the 421-a tax exemption duration to twenty-five years, and allows purchasers to apply to any institutional lender for mortgage financing.

• Offering plan declared effective as of January 2, 2008, with at least one unit (16-2/3% of units) under purchase agreement
• 421-a tax exemption clarified as twenty-five years with declining percentages: 100% years 1-21, 80% year 21-22, 60% year 22-23, 40% year 23-24, 20% year 24-25, 0% year 26
• Purchasers may apply to any institutional lender for mortgage contingency, not limited to sponsor-designated lender

Amendment 1 Sep 6, 2007

Purchase prices increased for 5 residential units, raising the total offering amount to $4,795,000.00.

• Unit 1A price increased to $595,000.00
• Unit 2 price increased to $895,000.00
• Unit 3 price increased to $875,000.00
• Unit 4A price increased to $735,000.00
• Unit 4B price increased to $720,000.00
• Total offering amount for 6 residential units: $4,795,000.00
• Schedule A page 32 column (4) revised with new unit prices
• Schedule A prices increased for 5 homes (median +2.9%): 1A $550,000 → $595,000; 2 $850,000 → $895,000; 3 $850,000 → $875,000; 4A $715,000 → $735,000; ...