Forum Condominium

Amendment 7 Sep 27, 2017

Amendment replaces sponsor's attorney and escrow agent, updates escrow procedures and account details, extends the plan for one year, and provides updated financial disclosures and board information.

• Sponsor's attorney changed from Harold L. Gruber, P.C. to Thomas E. Berinato law firm
• Escrow agent changed to Thomas E. Berinato at 123-40 83 Avenue, Suite 1D, Kew Gardens, N.Y. 11415
• Escrow account established at JP Morgan Chase Bank, Kew Gardens, N.Y., with FDIC insurance up to $250,000
• Revised escrow agreement procedures attached as Exhibit A
• Plan extended for one year from amendment acceptance date
• Common Charges and Projected Expenses updated in Schedule A and Schedule B (Exhibit B)
• 9 unsold units remain: 10A, 10B, CM2, CMs3, and 5 parking spaces (P18, P22, P23, P24, P26); sponsor owns 33.98% common interest
• Board of Managers control relinquished by sponsor to buyer-elected board

Amendment 6 Jun 29, 2012

Offering plan term extended one year; board control transferred from sponsor to independent members; 2012 operating budget and financial statements provided.

• Offering plan term extended one additional year
• Five unsold units remain: SC, 10A, 10B, CM2, CM3
• New independent Board of Managers elected; Sponsor no longer controls board
• 2012 Operating Budget totals $126,000 annually
• Aggregate monthly common charges for sponsor's unsold units: $2,996.44
• Aggregate monthly real estate taxes for unsold units: $744.78
• Outstanding mortgage held by East West Bank: $1,335,931.19 at 6.00% interest, maturing June 30, 2014

Amendment 5 Mar 22, 2011

Fifth amendment confirms first closing occurred, condominium declaration filed, permanent certificate of occupancy obtained, and lists sponsor-retained unsold units with their common charges and taxes.

• First unit closed June 30, 2010
• Condominium Declaration filed June 21, 2010
• Permanent Certificate of Occupancy obtained February 1, 2010
• Sponsor retains 11 unsold units (2B, 6B, 7B, 5C, 9A, 9B, 10A, 10B, CM1A, CM1B, CM1C)
• Working capital fund of $33,683.00 maintained at JP Morgan Chase Bank
• Board of Managers control remains with Sponsor; first unit owner meeting anticipated May 17, 2011
• Offering Plan extended for additional six (6) months

Amendment 4 Oct 13, 2010

Community Facility One (CM1) subdivided into three individual units (CM1A, CM1B, CM1C) with revised Schedule A and floor plan.

• Community Facility One (CM1) subdivided into three units: CM1A (1,765 sq ft, $921,000), CM1B (3,209 sq ft, $1,537,000), CM1C (1,566 sq ft, $762,000)
• Common interest allocations updated: CM1A 4.03%, CM1B 7.23%, CM1C 3.53%
• Revised floor plan showing new unit layout on cellar floor

Amendment 3 Sep 29, 2010

Amendment updates the first year of condominium operation dates, adjusts real estate taxes due to NYC rate increase, confirms construction completion with Certificate of Occupancy, and extends the offering plan.

• First year of condominium operation: June 1, 2010 through May 31, 2011
• Real estate taxes increased for all units due to New York City Real Property tax rate increase
• Construction complete; Permanent Certificate of Occupancy attached
• Offering plan extended for additional six (6) months
• No change in projected budget for first year of operation
• Revised Schedule A and footnotes reflecting tax increase

Amendment 2 Oct 7, 2009

Plan declared effective after five purchase agreements constituting 20% of units were accepted.

• Plan declared effective as of September 16, 2009
• Five (5) purchase agreements accepted, constituting 20.00% of units offered
• Sponsor's Affidavit required per Section 13 N.Y.C.R.R. 20.5(e) attached

Amendment 1 Jun 25, 2009

Amendment corrects common charges and residential surcharges, clarifies commercial unit count, updates unit configurations and prices, adds mortgagee protections, and revises parking layout.

• Revised Schedule A with corrected common charges and residential surcharges; footnotes clarify which items serve entire building vs. residential units only
• Commercial unit count corrected from 4 to 3 units
• Units 101ca and 10B bedroom count corrected from 3 to 2 bedrooms
• Unit 8B price reduced to $518,000.00; Unit 8C price increased to $752,000.00; overall project price unchanged
• Unit 8B has 2 bedrooms and 1 bath; Unit 8C has 2 bedrooms and 3 baths
• Roof terrace adjacent to Commercial Unit 3 allocated as limited common element; unit owner responsible for maintenance except structural repairs
• Parking area layout revised; handicapped parking units reduced to 1
• Declaration amended: mortgagee consent required for material adverse amendments and project termination (51% threshold); 60-day notice deemed consent provision added