65-60 Wetherole Street

Amendment 19 Apr 9, 2014

The OCR text is unreadable, so this amendment's changes cannot be identified.

Amendment 18 Nov 14, 2008

The OCR text is too garbled to read, so no changes to the plan can be identified.

Amendment 17 Nov 15, 2007

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Amendment 16 Oct 23, 2006

The OCR text is unreadable garbage characters with no legible words, so this amendment's changes to the plan cannot be determined.

Amendment 14 Jul 12, 2004

The OCR text is unreadable, so no changes to the offering plan can be identified.

Amendment 13 Feb 20, 2003

The OCR text is too garbled to read, so this amendment's changes to the plan cannot be identified.

Amendment 12 Dec 26, 2001

The amendment text is too garbled to read, so its changes to the plan cannot be identified.

Amendment 11 Jul 2, 1999

The OCR text is too garbled to identify any changes this amendment makes to the plan.

Amendment 10 May 18, 1990

The OCR text is unreadable, so this amendment's changes to the offering plan cannot be determined from it.

Amendment 9 Nov 10, 1988

The OCR text is too garbled to identify any changes this amendment makes to the plan.

Amendment 8 Nov 4, 1987

The OCR text is too garbled to identify what this amendment changes.

Amendment 6 Feb 13, 1987

The amendment adds an asbestos report by Sumray Construction Co., Inc. (Exhibit A) and a revised Contract of Sale for the unsold cooperative apartments (Exhibit B) to the offering plan.

• Asbestos Report prepared by Sumray Construction Co., Inc., per Paragraph 3 of the Fifth Amendment dated January 22, 1987, annexed as Exhibit A
• Asbestos found in basement pipe insulation and boiler insulation, with recommended encapsulation, monitoring or removal
• No ACM posing apparent risks to occupants discovered in the ten sampled apartments
• Revised Contract of Sale for the unsold cooperative apartments annexed as Exhibit B
• Except as stated, no material changes to the Plan and its terms remain in full force and effect

Amendment 5 Jan 2, 1987

This amendment lets the Sponsor keep its unsold shares past the third anniversary of closing, reports 1986 refinancing of the building's mortgages, adds asbestos testing and escrow terms, and updates the managing agent, transfer tax, maintenance, and assessed valuation disclosures.

• Sponsor-Seller may keep unsold shares beyond the third anniversary of the Closing Date, based on an IRS private letter ruling (Exhibit A)
• Wraparound mortgage of $1,000,000 from River Park Associates, dated November 14, 1986, with interest-only payments of $8,333.33 from January 1, 1987 at 10%, maturing December 1, 1991
• New first mortgage of $925,000 dated November 14, 1986, with payments of $8,410 from January 1, 1987 at 10%, maturing December 1, 1991, with a balance of approximately $870,665 at maturity
• Apartment Corporation realized $50,000 from the refinancing, deposited in a Capital Reserve Account
• Asbestos test results to be disclosed in an amendment by February 8, 1987; buyers may postpone closings until 30 days after that amendment is served
• If closings occur before asbestos work is complete, Sponsor must escrow at least $2,500 per unit
• Marimar Management Inc. is the new managing agent, with an annual fee of $13,000 and 30 days' termination notice
• Current maintenance charges are $0.869 per share

Amendment 4 Dec 5, 1985

The amendment raises the cash purchase price for unsold shares in the "E" and "G" lines of the building to $230.00 per share, while the price for all other unsold shares stays at $215.00.

• Cash purchase price for unsold shares in the "E" and "G" lines raised to $230.00 per share, effective December 20, 1985
• Cash purchase price for all other unsold shares remains $215.00 per share

Amendment 3 Oct 4, 1985

This Third Amendment discloses the transfer of title to 65-60 Wetherole St. Owners Corp., raises the price of unsold shares to $215.00 per share, and reports reserve fund, working capital, mortgage, tax basis, director and financial statement details.

• Title to the premises transferred to 65-60 Wetherole St. Owners Corp.
• Cash purchase price of unsold shares increased to $215.00 per share
• Initial reserve fund of $24,764.10; net $10,648.47 delivered to the Apartment Corporation at closing; minimum reserve of $71,332.20 due five years and thirty days after closing, less the initial contribution and any supplemental contributions
• Working capital of $6,250 paid at closing; additional $22,475.10 payable by the Apartment Corporation to the Sponsor in twelve equal monthly installments, without interest
• Apartment Corporation took title subject to a wrap-around purchase money mortgage of $950,000.00 payable to Sponsor
• Tax basis to the Apartment Corporation determined to be $1,521,660.46
• Directors of the Apartment Corporation listed: Tony Atlas, Sandra Sindell, Ellen Kisselman, Barry P. Levine, Lawrence A. Levine, Phyllis Leone
• Audited financial statements for 1983-1984 annexed as Exhibit C

Amendment 2 Oct 2, 1984

This amendment declares the 65-60 Wetherole Street co-op offering plan effective on October 2, 1984, after 21 of 66 apartments were subscribed, and lists the counted subscribers and their purchase prices.

• Plan declared effective October 2, 1984, with at least 15% of apartments subscribed
• 21 of 66 apartments counted as subscribed: 10 by tenants in occupancy, 10 by purchasers in possession under interim agreements, 1 by a non-tenant purchaser intending to occupy
• One additional tenant subscription (Apt. 3L) excluded from the count due to affiliation with the Sponsor
• Exhibit A lists each counted apartment, purchaser, purchase price, and subscription and deposit dates
• No closing until this amendment is accepted for filing by the Department of Law

Amendment 1 Jul 26, 1984

The amendment gives tenants in occupancy a 30-day exclusive right to buy at Schedule A prices, offers them Sponsor financing, and requires the Sponsor to fund window replacement and make specified building repairs.

• Tenants in occupancy get a 30-day exclusive right to buy at Schedule A prices; their apartment is not shown to third parties during that period unless they waive the right in writing
• After the 30-day period, non-purchasing tenants pay the same price as non-tenant purchasers and lose Sponsor financing
• Right of tenant purchasers to assign their subscription agreements is withdrawn
• Sponsor financing offered to tenant purchasers at 75%, 65% or 50% of the Cash Purchase Price, at 14-1/4%, 12-1/2% or 12-1/4% interest
• $80,000 Window Fund deposited at transfer of title to replace window frames in all apartments
• Sponsor to replace elevator ceiling and lighting, repair intercom, change service door lock, add garage door lock, and inspect roof within 90 days of closing
• $5,000 Roof Repair Fund held in escrow for three years from closing
• Non-tenant apartments offered at Schedule A non-tenant prices or lower negotiated prices without amending the Plan