919 Park Place

Amendment 10 May 4, 1999

WILLIAM LLC becomes the new sponsor and holder of unsold shares, with a maintenance increase to $3.89 per share, a transfer of Apartment 2H, and updated share counts, financial figures, and board information.

• Maintenance charges increased to $3.89 per share
• WILLIAM LLC named new sponsor and holder of unsold shares, replacing PARK PLACE INVESTORS as sponsor
• WILLIAM LLC owns 7,280 unsold shares, including 7,066 allocated to 60 apartments and 110 shares for 3C and 104 shares for 5L acquired by foreclosure
• Apartment 2H transferred to New Destiny Housing Corporation
• Aggregate monthly maintenance for WILLIAM LLC's shares is $28,319.20
• Approximate aggregate monthly rents from tenants in WILLIAM LLC's apartments are $41,265.99
• None of the new sponsor's unsold shares are subject to mortgages or financing commitments
• Board of Directors now consists of Wanda Mobley (President), Michael Sackey (Vice-President), Ann Watkins (Recording Secretary), and Pamela Brown (Correspondence Secretary/Treasurer)

Amendment 9 Jul 8, 1997

This Ninth Amendment transfers the unsold shares to new sponsor William LLC, restructures the building's mortgage, and revises the By-Laws on director voting, director qualifications, transfer fees, and indemnification.

• Holder of Unsold Shares no longer must relinquish voting control; shareholders vote their shares for directors, but while Unsold Shares are 25% or more of outstanding shares, certain Board actions need approval by shareholders owning at least 75% of shares
• William LLC becomes the new Sponsor and holder of Unsold Shares, and will fund the $10,915.58 deficit in the Receiver's account
• Mortgage restructured to interest only at 8.50% per annum, with the entire unpaid principal and accrued interest due six years from the Effective Date
• Underlying mortgage of $1,400,000.00 or less allowed, with monthly principal and interest payments of $10,161.01 or less
• Default Rate set at twenty-four (24%) percent; late charges of six ($.06) cents on every dollar overdue after ten (10) days
• At least one director must be a resident of the property, and all directors must be at least twenty-one (21) years of age
• Board may appoint one assistant vice-president and one assistant secretary to sign documents for Unsold Shares, Proprietary Leases and related transfers
• Board may collect reasonable transfer fees to cover expenses and attorneys' fees; new Article XIII adds indemnification and elimination of director liability

Amendment 8 Jan 31, 1995

The amendment changes the building's managing agent to Regal Management & Systems, updates sponsor financial and board-control disclosures, adds the 1993 financial report, and extends the plan's term by twelve months.

• Regal Management & Systems, Inc. retained as managing agent effective July 1, 1994
• Sponsor's Unsold Shares listed in Exhibit A, totaling 7,184
• Sponsor's aggregate monthly rentals approximately $25,073.48 as of January 1, 1995
• Sponsor states no Unsold Shares are pledged as loan security or subject to financing commitments
• Sponsor is current on its Plan obligations since the Seventh Amendment was accepted January 11, 1994
• Sponsor continues to control the Board; it agrees to relinquish voting control by the earlier of September 25, 1995 or when Unsold Shares fall below fifty (50%) percent
• 1993 certified financial report by Goldstein, Golub, Kessler & Co., P.C. attached as Exhibit B
• Plan term extended for twelve months from the date this Amendment is accepted for filing

Amendment 7 1994

This amendment extends the plan's term, updates the sponsor's financial disclosures and board control, reports a new managing agent, and modifies the cooperative's mortgage with Troy Savings Bank.

• Plan term extended for twelve months from the date this Amendment is accepted for filing
• Mortgage modified with The Troy Savings Bank: interest rate reduced to 8.5% effective July 1, 1993 (previously 10.5%), remaining until July 1, 1998, then adjusted to 350 basis points above the five year Treasury Constant Maturities Index
• Mortgage principal balance $1,218,659.86; monthly payment $9,998.26; entire unpaid principal due January 1, 2000; prepayment permitted without penalty on thirty days prior written notice
• Turf Company, Inc. retained as new managing agent effective June 1, 1993
• Sponsor owns unsold shares listed in Exhibit A, totaling 7,966; none pledged as security for loans
• As of January 1, 1994, sponsor-owned apartments carry approximately $30,988.00 in aggregate monthly maintenance charges and approximately $29,125.00 in aggregate monthly rentals
• Sponsor still controls the Board; it agrees to stop exercising voting control at the earlier of September 25, 1995 or when Unsold Shares are less than 50% of the corporation's shares
• Certified 1992 financial report attached as Exhibit B, prepared by Goldstein, Golub, Kessler & Co., CPA's

Amendment 6 Aug 20, 1992

This Sixth Amendment extends the Plan's term by twelve months, revises how buyer deposits are escrowed, sets when the sponsor's board control ends, and updates the sponsor's address, financial figures, and board roster.

• Plan term extended twelve months from the date this Amendment is accepted for filing
• Buyer deposits to be placed within five business days after the agreement is signed into a segregated escrow account of Morris H. Ordover, Esq., escrow agent
• Sponsor stops exercising voting control over the Board at the earlier of September 25, 1995 or when Unsold Shares fall below fifty percent (50%) of the shares
• Sponsor address changed to 150 East 58th Street, 26th Floor, New York, New York 10155
• Sponsor owned 7,966 Unsold Shares, listed in Exhibit A
• As of August 1, 1992, sponsor-owned apartments carried aggregate monthly maintenance of approximately $30,988.00 and monthly rentals of approximately $28,172.00
• Board members listed: Lorin Silverman, Mark C. Cohen, Leonard Zehnwirth (Sponsor Representatives); Pamela Brown, Wanda Mobley (Resident Owners)
• Certified 1991 financial report by Goldstein, Golub, Kessler & Co., P.C. attached as Exhibit B

Amendment 4 Jan 22, 1991

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

Amendment 3 May 9, 1990

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

Amendment 2 Nov 22, 1989

The amendment text is too garbled by OCR to identify any changes to the offering plan.

Amendment 1 Mar 17, 1989

The amendment text is too garbled by OCR to identify any changes to the offering plan.