Greenmore Condominium

Amendment 5 Apr 4, 2014

Amendment updates the budget for 2014, changes escrow agent and sponsor's attorney, and establishes pricing for six parking spaces at $25,000 each.

• Operating budget updated for January 1 to December 31, 2014
• Escrow agent changed from Kenneth S. Magida to Rothkrug Rothkrug & Spector, LLP
• Sponsor's attorney changed from Kenneth S. Magida to Rothkrug Rothkrug & Spector, LLP
• Six outdoor parking spaces offered for sale at $25,000 each
• Parking unit monthly common charges set at $25.00
• Operating account balance $7,027.16 and reserve account balance $1,985.45 as of December 31, 2013
• All residential units sold prior to June 2013
• First closing occurred March 8, 2011

Amendment 4 Feb 15, 2013

Amendment adds parking spaces for sale, revises escrow procedures, and updates the operating budget.

• Six parking spaces offered for sale at $25,000 each; two spaces conveyed to adjacent Greenpoint Plaza Condominium
• Operating budget for December 1, 2012 to November 30, 2013: total projected income and expenses of $57,463.00
• Escrow agent changed to Kenneth S. Magida, Esq. with account at Bank of America; interest rate 0.2%
• Escrow deposit notification within 10 business days; cancellation right if notice not received within 15 business days
• Sponsor cannot seek release of defaulting purchaser's deposit until plan consummation
• First closing occurred March 8, 2011 for Unit 203-4F; all units now sold

Amendment 3 Feb 7, 2011

Amendment updates certificates of occupancy, tax abatement details, projected first closing to March 2011, budget for 2010-2011, and offers rescission rights to current purchasers.

• Final certificates of occupancy obtained October 22, 2010 for all buildings
• 421-a tax abatement filing completed; buildings receiving 15 year tax abatement
• First closing moved from June 1, 2009 to March 1, 2011
• Condominium declaration and subdivision expected to be completed by March 1, 2011
• Updated budget for December 1, 2010 to November 30, 2011 with replacement reserve line item
• Rescission rights offered to purchasers currently in contract, waivable within 15 days after amendment presentment

Amendment 2 Nov 12, 2009

Plan declared effective based on five purchase agreements representing 20.8% of residential units.

• Plan declared effective upon receipt of 5 purchase agreements (20.8% of residential units)
• First Amendment accepted for filing on May 13, 2009
• No material changes to projected first-year budget

Amendment 1 May 1, 2009

Building name changed to Greenmore Condominium, budget updated, floor plans revised, 8 parking spaces added to rear yard, and FHA compliance changes made including elimination of board right of first refusal and addition of replacement reserve fund.

• Condominium name changed from Huron Suites to Greenmore Condominium
• Updated budget for June 1, 2009 to May 31, 2010 with new replacement reserve line item
• Revised floor plans reflecting minor interior layout changes
• Eight (8) outdoor parking spaces added to rear yard as limited common elements
• Board of Managers right of first refusal on unit sales eliminated per FHA requirements
• Replacement reserve fund added to budget for maintenance and replacement of common elements
• Control period threshold changed from 90% to 75%
• Minimum lease term set at one (1) year; leases less than six (6) months deemed automatic violation