324 West 108 Condominium

Amendment 6 Feb 16, 2024

This sixth amendment names NestApple Inc. as the new selling agent, adds a common charge waiver disclosure, and updates post-closing details such as closings, unsold units, and sponsor financial obligations.

• New selling agent is NestApple Inc., which is not affiliated with the Sponsor
• Common charge waiver for unit owners runs from the First Unit Closing to May 31, 2024; during this Unit Owners Paid Waiver Period, operating costs are shared by all owners, including Sponsor for unsold units
• First Unit Closing occurred December 7, 2023 (Unit 32); Sponsor had closed title to 3 Units as of February 6, 2024
• Seven (7) unsold units owned by the Sponsor as of February 6, 2024
• Aggregate monthly common charges for the unsold units: $12,930.33; aggregate monthly real estate taxes beginning January 1, 2024: $7,268.99
• One Sponsor mortgage of $15,500,000 held by Bank of Hope, balance owed $9,718,638.24, maturity March 21, 2024 with a six (6) month extension option
• Working Capital Account held at JP Morgan Chase Bank, N.A.; balance $3,874.86 as of February 6, 2024
• First meeting of unit owners not yet triggered; no meeting scheduled

Amendment 5 Nov 14, 2023

The sponsor refinanced its three construction loans with Bank of Hope, a new $15,500,000 loan that matures March 21, 2024 and has a six-month extension option.

• Three construction loans refinanced with Bank of Hope on March 23, 2023
• New loan amount $15,500,000
• New loan maturity date March 21, 2024, with a six (6) month extension option period

Amendment 4 Aug 16, 2023

The sponsor declares the 324 West 108 Condominium plan effective because purchase agreements have been accepted for 20% of the units, and the amendment adds the supporting affidavit and a schedule of the two units under contract.

• Plan declared effective under the amended "Effective Date" section
• Purchase agreements accepted from bona fide purchasers for 20% of the Units in the Building
• No purchase agreement counted toward effectiveness is subject to an outstanding right to rescind
• Sponsor principal's affidavit annexed as Exhibit A
• Affidavit states purchase agreements executed for two (2) units, representing more than fifteen (15%) percent of Units offered
• Schedule A lists Unit 21 (contract date 7/17/23) and Unit 32 (contract date 8/14/23)
• No other material changes to the Plan

Amendment 3 May 17, 2023

This amendment renumbers 10 condominium units, such as Unit 101 becoming Unit 11, and states there are no other material changes to the Plan.

• Units 101, 102, 201, 202, 301, 302, 401 and 402 renumbered to 11, 12, 21, 22, 31, 32, 41 and 42
• Unit 501 renumbered to PHA
• Unit PH renumbered to PHB
• No other material changes to the Plan

Amendment 2 Dec 20, 2022

This amendment discloses a $278,727.15 court judgment against the Sponsor, now under appeal and bonded, and two bonded mechanics liens that the Sponsor disputes.

• Sponsor's $278,727.15 judgment to neighbor Nour Foundation (rendered November 28, 2022) disclosed; under appeal and bonded
• Sponsor paid $10,034 in bond fees to The Blaikie Group
• Mechanics lien of $131,769.42 by a previous contractor disclosed and bonded; Sponsor disputes it
• Mechanics lien of $32,669.71 by a subcontractor disclosed and bonded; Sponsor disputes it
• Sponsor not required to pay the judgment unless the appeal is unsuccessful

Amendment 1 Dec 9, 2022

This amendment changes the pricing of the 324 West 108 Condominium units and sets the prices at which all 10 units will be offered.

• Pricing of the units changed, with new prices listed for all 10 units (101, 102, 201, 202, 301, 302, 401, 402, 501, PH)
• Unit 101 $1,399,500; 102 $2,695,000; 201 $2,595,000; 202 $2,250,000; 301 $2,550,000
• Unit 302 $2,575,000; 401 $2,425,000; 402 $2,625,000; 501 $5,950,000; PH $4,950,000