Brighton Tower Ii Condominium

Amendment 3 Apr 26, 2012

Plan declared effective after sponsor accepted 7 unit purchases; parking spaces and handicapped parking designations amended.

• Plan declared effective upon filing of this amendment
• Sponsor accepted purchase agreements for 7 units (15% of units offered)
• Number of Parking Spaces Licenses amended to 45 total
• Parking Spaces PS6 and PS22 designated as Handicapped Parking Spaces
• Handicapped unit owners have right to demand trade or purchase of handicapped parking spaces at fair market value

Amendment 2 Feb 23, 2012

Amendment removes right of first refusal, updates construction timeline and first closing date, revises first year budget and Schedule A, and extends plan term.

• Right of first refusal removed from declaration and bylaws
• Certificate of occupancy expected by April 1, 2012
• First closing expected May 1, 2012
• First year of condominium operations revised to May 1, 2012 through April 30, 2013
• Schedule B (budget) revised
• Schedule A revised
• Plan term extended six (6) months

Amendment 1 Mar 25, 2011

Amendment revises bylaws for mortgage compliance, updates construction and closing timelines, adds a Capital Reserve Fund to the budget, lowers the threshold for declaring the plan effective, and extends plan terms.

• Bylaws revised for mortgage underwriting compliance, including mortgagee consent requirements and notification obligations
• Construction expected to complete in May 2011; temporary certificate of occupancy by June 30, 2011
• First closing expected September 1, 2011
• Budget revised to include Capital Reserve Fund; budget year changed to September 1, 2011 through August 31, 2012
• Plan may be declared effective when 15% of units (7 units) have signed Purchase Agreements; must be declared effective at 80% (34 units)
• Plan terms extended for an additional six months
• Total first year budget: $91,200.00 income and expenses