City View Condominium

Amendment 11 Jun 27, 2016

First year of condominium operation moved to August 1, 2016; Final Certificate of Occupancy obtained June 8, 2016; offering plan extended six months.

• First year of condominium operation projected for August 1, 2016
• Final Certificate of Occupancy obtained June 8, 2016
• Updated Schedule B with new projected start date
• Offering Plan extended for additional six months
• No changes to most recent budget

Amendment 10 Dec 4, 2015

First year of condominium operation moved to May 1, 2016 with updated budget and schedule; Certificate of Occupancy delayed due to Building Code compliance issues.

• First year of condominium operation now projected to be May 1, 2016
• Temporary Certificate of Occupancy expected by March 1, 2015; final Certificate of Occupancy expected by March 1, 2016
• Delays due to building constructed under 1968 Building Code; Department of Buildings enforcing 2014 code requirements
• Final inspection expected to be requested by December 31, 2015
• Offering Plan extended for additional six (6) months from December 4, 2015
• Updated Schedule B with budget for May 1, 2016 – April 30, 2017; common charges 67,096

Amendment 9 Jun 22, 2015

First year of condominium operation projected to November 1, 2015; temporary certificate of occupancy expected by July 15, 2015; telephone service for elevator and alarm system added to budget.

• First year of condominium operation now projected to be November 1, 2015
• Temporary Certificate of Occupancy expected by July 15, 2015
• Telephone service for elevator and alarm system added to budget as monthly expense
• Alarm System Monitoring line item: $2,163
• Telephone Service (Elevator & Alarm System) line item: $4,586
• Purchasers in contract offered right of rescission for 15 days; down payments refunded within 10 days if exercised
• Offering Plan extended for additional 6 months from date of amendment
• Updated Schedule B with new Budget Certification attached

Amendment 8 Sep 2, 2014

Price of unit 5D updated to $1,099,000.00.

Amendment 7 Jul 10, 2014

First year of condominium operation moved to November 1, 2014; temporary certificate of occupancy expected August 24, 2014; Unit 2C price raised to $849,000; water and sewer budget updated; Schedule B and Schedule A revised.

• First year of condominium operation now projected to be November 1, 2014
• Temporary Certificate of Occupancy expected by August 24, 2014
• Unit 2C price amended to $849,000.00
• Water and Sewer budget amended to $7,006 (including 10% inflation)
• Water and Sewer calculation: $6,369.24 base, $7,006.16 with inflation
• Reserve fund updated to reflect Water and Sewer changes
• Offering plan extended for additional six (6) months
• Unit 2C currently not under contract after purchaser exercised rescission right
• Schedule A prices increased for 2 homes (median +41.7%): 2C $599,000 → $849,000; 5C $845,000 → $999,000

Amendment 6 Nov 15, 2013

Amendment updates counsel representation, escrow procedures and account details, projects first condominium operation year as November 1, 2013, and extends the offering plan.

• Sponsor's counsel changed: Joan Ferrari (Ferrari & Wallace) for closings, Jay Lichtman for amendments
• Escrow agent changed to Joan Ferrari; deposits held at HSBC Bank USA in Ferrari & Wallace IOLA account
• Minimum down payment $5,000.00 or 10% of purchase price, whichever is less
• First year of condominium operation projected as November 1, 2013
• First closing delayed: now projected by November 1, 2014 (was September 1, 2013)
• Purchasers under 4th Amendment offered 15-day rescission right
• Sponsor's address changed to 175 Pinelawn Road, Suite 400, Melville, New York 11747
• Offering plan extended for additional six months

Amendment 5 Mar 29, 2013

Price of unit SC increased from $845,000 to $999,000.

Amendment 4 Mar 11, 2013

Amendment changes first year of condominium operation dates, reduces projected taxes due to lower NYC real property tax rate, corrects unit floor plans and square footage, updates escrow procedures, and extends the offering plan.

• First year of condominium operation changed to March 1, 2013 through February 28, 2014
• Projected taxes decreased due to lower New York City Real Property tax rate
• Unit P8 corrected—is a parking space allocated to Unit M1, not a separate unit
• Unit M1 square footage corrected in revised cellar floor plan
• Building substantially complete; temporary Certificate of Occupancy expected within 30-60 days
• Escrow Agent changed to law firm Harold L. Gruber P.C. at 92 Prospect Place, Brooklyn; escrow account at Key Bank, Red Hook, NY
• Escrow account is IOLA account with $250,000 FDIC insurance per deposit; no fees charged to purchaser
• Offering Plan extended for additional six months from amendment date

Amendment 3 Jul 31, 2012

Three units sold, parking unit designations corrected, storage area allocations changed, and control transfer timeline extended.

• Three units sold, constituting 18.75% of units offered
• Parking unit designations on floor plans FP1 and FP3 corrected
• Storage area allocations to residential units changed; purchasers select from available areas at time of contract
• Control transfer to Board of Managers delayed to later of: 120 days after 75% of units conveyed, or 3 years after first unit conveyance
• Plan declared effective as of May 2, 2012

Amendment 2 Apr 16, 2012

First year of condominium operation shifted to September 1, 2012 through August 31, 2013, with real estate tax benefits now implemented.

• First year of condominium operation now September 1, 2012 through August 31, 2013
• Real Estate Tax Benefits obtained and implemented
• Revised Schedule A and Schedule B reflecting new first year dates
• Offering Plan extended six (6) months from amendment date

Amendment 1 Nov 28, 2011

First year of condominium operation moved to April 1, 2012–March 31, 2013; projected taxes increased due to higher NYC real property tax rate; Condominium Declaration amended regarding mortgagee priority.

• First year of condominium operation: April 1, 2012 through March 31, 2013
• Projected taxes increased for first year due to higher New York City Real Property tax rate
• Schedule B and budget certification revised with no change to total budget amount of $68,441
• Schedule A revised to reflect increased tax projections
• Condominium Declaration amended to clarify mortgagee priority over insurance proceeds and condemnation awards
• Offering Plan extended for additional six (6) months from amendment date