Waterbridge 47 Condominium

Amendment 7 Feb 10, 2016

Amendment discloses post-closing occupancy status, building systems, board composition, and revises Unit 6C layout from three to two bedrooms.

• First Unit Closing occurred December 2, 2015; temporary certificate of occupancy issued December 1, 2015 and renewed February 4, 2016
• Permanent certificate of occupancy expected prior to May 4, 2016; $54,500.00 posted as security for this work
• Declaration recorded October 6, 2015; separate real estate tax assessments effective January 1, 2016
• 10% of operating account allocated to reserve fund ($30,098.20); working capital fund $15,087.02
• No unsold units held by Sponsor at submission
• Board of Managers: Curtis Pollock (principal), Jeffrey Simpson (designee), Lisa Schwartz (designee)
• Unit 6C reconfigured from three bedroom to two bedroom by removing south bedroom's west wall

Amendment 6 Oct 13, 2015

Offering term extended, Limited Common Elements responsibilities clarified, and mortgage details disclosed.

• Offering term extended by six (6) months
• Limited Common Elements (gardens, balconies, terraces, roof terraces) responsibility defined for Unit Owners
• Unit Owners responsible for painting, decorating, and non-structural maintenance of their Limited Common Elements
• Structural or extraordinary repairs to Limited Common Elements allocated as Common Expense unless caused by Unit Owner negligence
• Steel post and plank fencing to divide private roof terraces for Units THA, THB, THC, PHA, PHB
• Mortgage held by First Republic Bank: $15,173,000 principal, maturity September 1, 2016, approximately 3.50% per annum

Amendment 5 Jul 8, 2015

Plan declared effective after sponsor accepted purchase agreements for twelve units constituting forty-eight percent of units in the building.

• Plan declared effective
• Twelve units purchased by bona fide purchasers (48% of building)
• No outstanding rescission rights on counted purchase agreements

Amendment 4 Apr 30, 2015

Amendment updates appliances and fixtures, clarifies parking unit layout, and removes the E-Designation for hazardous materials.

• Appliances and fixtures replaced with new brands and models listed in Exhibit A
• Parking unit layout revised and clarified in Exhibit B
• E-Designation for hazardous materials removed by Office of Environmental Remediation

Amendment 3 Mar 18, 2015

Purchase prices increased for seven penthouse units.

Amendment 2 Feb 2, 2015

Amendment adds right of first refusal for unit sales and leases, revises floor plans and square footages, updates Schedule A for balconies and square footage, expands Architect Report with additional disclosures, and modifies leasing requirements in the By-Laws.

• Right of first refusal added for unit sales and leases, exercisable by Board of Managers within 30 days
• Unit Floor Plans revised with window size adjustments, square footage corrections, and lot line windows added to 5th Floor
• Schedule A revised to correct balcony designations and square footages per revised floor plans
• Architect Report expanded to disclose Quality Housing Project status and roofing waterproofing system updates
• Condominium By-Laws Article XI Section 5 revised to require all leases be for minimum one year term

Amendment 1 Nov 20, 2014

Purchase prices increased for 26 units across all floors.

• Unit THA price raised to $1,207,500.00
• Unit THB price raised to $1,302,000.00
• Unit THC price raised to $1,433,250.00
• Unit 2A price raised to $939,750.00
• Unit 2B price raised to $1,380,750.00
• Unit 2C price raised to $2,205,000.00
• Unit 2D price raised to $1,433,250.00
• Penthouse units PHA and PHB prices raised to $2,493,750.00 and $2,546,250.00
• Schedule A prices increased for 25 homes (median +5.0%): THA $1,150,000 → $1,207,500; THB $1,240,000 → $1,302,000; THC $1,365,000 → $1,433,250; 2A $895,000 → $939,750; ...