Solita Condominium

Amendment 5 Jul 30, 2002

Unit prices are updated effective with this amendment.

• Schedule A prices amended for all units
• Prices for units already in contract prior to amendment not increased

Amendment 4 Jul 30, 2002

Units 8 and 9 divided into four units (8A, 8B, 9A, 9B), budget increased by approximately $6,000 due to insurance cost increase, and commercial unit passageway reserved pending alternate egress construction.

• Units 8 and 9 divided into Units 8A, 8B, 9A, and 9B with new prices and common interest allocations
• Budget increased by approximately $6,000 (3.4%) due to insurance cost increase of $37,635.75
• Budget period changed to June 1, 2002 through May 31, 2003
• Portion of Commercial Unit B reserved as passageway for all units until alternate egress constructed
• Commercial Unit A to be reconfigured with stairway exit from lobby when current tenant vacates
• First Board of Managers consists of Hung Luk and Yuk Keith Lam, both affiliates of Sponsor
• Condominium Declaration and By-laws submitted to New York City County Clerk with tax lot designations
• Schedule A prices increased for 12 homes (median +10.0%): 2A $1,075,000 → $1,175,000; 3A $1,050,000 → $1,135,000; 4A $1,080,000 → $1,165,000; 5A $1,110,000 → $1,198,000; ...

Amendment 3 Jan 8, 2002

Third amendment declaring the offering plan effective after 38.9% of units received purchase agreements, and setting the closing date.

• Plan declared effective as of December 10, 2001
• Seven of eighteen units (38.9%) have signed purchase agreements
• Closing to occur at offices of Arthur I. Weinstein, Esq., 924 West End Avenue, New York, New York within 30 to 120 days of January 8, 2002

Amendment 2 Dec 10, 2001

Unit prices are updated in the revised Schedule A, except for units already in contract.

• Updated prices for all units: 2A $1,175,000; 3A $1,135,000; 4A $1,165,000; 5A $1,198,000; 6A $1,230,000; 7A $1,265,000; 2B $1,075,000; 3B $1,070,000; 4B $1,105,000; 5B $1,125,000; 6B $1,150,000; 7B $1,195,000; 8 $2,400,000; 9 $2,500,000; PH A $3,500,000; PH B $1,500,000
• Prices for units in contract prior to amendment date not increased

Amendment 1 Dec 10, 2001

Budget and Schedule A updated for concierge and superintendent services, electricity costs revised, architect's report corrected for ceiling heights, lot line windows eliminated, financing contingency specified, and closing costs set.

• Budget amended: concierge service 5 days/week 7 hours/day at $14.50/hour; superintendent 5 days/week 3.5 hours/day
• Electricity estimate revised by Kam Chiu Associates on November 6, 2001
• Architect's report corrected with specific ceiling heights for all floors and penthouse units
• Lot line windows eliminated; light and air easement obtained for 159 Grand Street; Special Risk number 8 deleted
• Financing contingency limited to applications through GuardHill Financial Corp., 450 Park Avenue, New York, NY 10022
• Financing contingency requires 45-day commitment for minimum 75% of Total Purchase Price at prevailing rates
• Closing Costs set at $67,466
• Commercial units' common charge share recalculated to 4.56311% and 2.37282%; aggregate annual charges $6,614