1125 LORIMER STREET

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letting- consent required further subletting, new consent rent-collection from subtenant violation of restrictions subordination to mortgages and ground leases Subrogation waiver-Lessor's obligations Surrender of apartment- lease expiration lease temrination liability continues Term of lease Termination of lease­ conditional limitation assignment unauthorized bankruptcy of Lessee condemnation covenants breached destruction of building occupancy unauthorized ccccc. Page Par. C/2l C/ls C/l C/2s C/3 C/2 C/8 C/l C/26 C/14 C/3 CIS C/6 C/3 C/2 C/2 C/9 C/27 C/22 C/9 C/ll C/26 C/24 C/lS CIS C/lS C/27 C/27 C/l C/23 C/24 C/23 C/2s C/24 C/2s C/24 28 19 1 (a) 32 1 (g) 1 (e) · 12 1 (a) 32(b) 18(a) 2 5 7 3 1 (b) 1 (e) 16(a) 32(c) 29(b) 15 16(e) 32(b) 31(c) 22 4(d) 21 (c) 34 34 31 31(c) 31(b) 31(i) 31 (e) 31 (h) 31(c)

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YORK (60 Apartments) Total Cash Amount of Offering (20,000 shares) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. $2,137,000 Mortgage Indebtedness. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. $ 271 ,500 Total Purchase Price ......................................................... $2.408,500 Less Reserve Fund to be Retained by Apartment Corporation ....... , .............. , $ 10,000 Net Purchase Price of Property to Sponsor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. $2.398,500 Name and Address of Apanment Corporation Whose Shares Are Offered: 1125 LORIMER STREET HOUSING CORPORATION clo Raphael and Marcus, P.C. 551 Fifth A venue New York, New York 10176 Name and Address of Sponsor and Selling Agent: 1125 LORIMER ASSOCIATES clo Raphael and Marcus, P.C. 551 Fifth Avenue New York, New York 10176 The approximate date of frrst offering of this Plan is Augu

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The basic financial plan of this cooperative projec~ is as follows: 49. Total Cash Amount of Offering (20,000) Shares ••••••••• $2,137,000 First Mortgage Indebtedness ••••••••••••••••••••••••••• $ 271,500 Total Purchase Price •••••••••••••••••••••••••••••••••• $2,408,500 Less Reserve Fund to be Retained by Apartment Corporation •••••••••••••••••••••••••••••• $ 10,000 Net Purchase Price of Property to Sponsor ••••••••••••• $2,398,500 TERMS OF MORTGAGE WHICH WILL AFFECT THE PROPERTY AT THE CLOSING DATE At closing, the Apartment Corporation will take subject to Mortgage in the principal amount of $271,500, payable in constant equal quarterly installments of $6,187.50 until May 1, 1983, and thereafter, in quarterly sums of $6,644.48. Each installment is to be applied first to interest at a rate of eight (8%) percent per annum and then to principal. The Mortgage will mature on May 1, 1990,at which time the sum of $218,810.23 will be due with accrued interest, assuming all

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age permits the mortgagor to further mortgage the property. The following defaults on the first mortgage will entitle the lender to accelerate the mortgage indebtedness: 1. Default in payment of any installment of principal. 2. Default in payment of taxes, assessment and water rates. 3. Default after notice in assigning insurance policies. The Apartment Corporation has the following grace periods to cure these defaults: ten (10) days for payment of principal; thirty (30) days for payment of taxes or assessments. There is not a due on sale clause in the first mortgage. It is not a default under the mortgage to alter the building. The first mortgage imposes the following restriction upon the Apartment Corporation: Right to remove or demolish the building can only be done with consent of mortgagee;

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and to the extent that, additional services, equipment or cap­ i tal improvements may be required by appl icable law. 2. Increase the anount of the mortgage indebtedness of the Apartment Corporation, extem, refinance or in any other way al ter the terms of the lbrtgage or enter into any new mortgage with respect to the Property or enter into any contract of sale or lease of the Build ing or the Property or any portion thereof other than (a) Propr iet.ary Leases and (b), in case of a termination of the Garage Lease due to default, a new garage lease. 3. Increase, in any year, the amount of the reserve for contingencies (or other reserves) OV'er the anount therefor set forth on the Projecte:1 Sched.ule, if any, although any unused por­ tion of such reserve for any year of cooperative ownership may be added to the reserve for the followirg years of cooperative owner­ ship. '!be By-Laws may be anended or repealed by vote of share­ holders ownirg at least two-thirds of the then

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. . . . . . . . . . . . . . . . . . . .. $ 271 ,500 Total Purchase Price ......................................................... $2.408,500 Less Reserve Fund to be Retained by Apartment Corporation ....... , .............. , $ 10,000 Net Purchase Price of Property to Sponsor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. $2.398,500 Name and Address of Apanment Corporation Whose Shares Are Offered: 1125 LORIMER STREET HOUSING CORPORATION clo Raphael and Marcus, P.C. 551 Fifth A venue New York, New York 10176 Name and Address of Sponsor and Selling Agent: 1125 LORIMER ASSOCIATES clo Raphael and Marcus, P.C. 551 Fifth Avenue New York, New York 10176 The approximate date of frrst offering of this Plan is August 20, 1982. This offering plan may only be used for 12 months from the date of first offering unless amended. SEE PAGE (a) SPECIAL RISK FACTOR THIS OFFERING PLAN IS THE SPONSOR'S ENTIRE OFFER TO SELL THESE COOPERATIVE APARTMENTS. NEW Y

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PROCEDURE TO PURCHASE FINANe IAL FEATURES TEBMS OF MORTGAGE SUMMARY OF PROPRIETARY LEASE, PRINe IPAL TERMS APARTMENT CORPORATION ONS OLD SHARES RESERVE FUND C ONTRAC T CF SALE SPONSOR'S PROFIT IDENl'ITY OF THE PARTIES M~~GEMENT AGREEMENT AND OTHER CONTRACTUAL ARRANGEMENTS DOCUMENTS ON FILE REPORTS TO SHAREHOLDERS GENERAL SPONSOR'S CERTIF ICATION PAGE ( a) A -AAAAAAA 1 9 10 1 2 1 4 15 19 20 21-23a 24 34 36 43 46 49 49 52 54 58 59 60 64 65 66 67 67 68 69

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,137,000 First Mortgage Indebtedness ••••••••••••••••••••••••••• $ 271,500 Total Purchase Price •••••••••••••••••••••••••••••••••• $2,408,500 Less Reserve Fund to be Retained by Apartment Corporation •••••••••••••••••••••••••••••• $ 10,000 Net Purchase Price of Property to Sponsor ••••••••••••• $2,398,500 TERMS OF MORTGAGE WHICH WILL AFFECT THE PROPERTY AT THE CLOSING DATE At closing, the Apartment Corporation will take subject to Mortgage in the principal amount of $271,500, payable in constant equal quarterly installments of $6,187.50 until May 1, 1983, and thereafter, in quarterly sums of $6,644.48. Each installment is to be applied first to interest at a rate of eight (8%) percent per annum and then to principal. The Mortgage will mature on May 1, 1990,at which time the sum of $218,810.23 will be due with accrued interest, assuming all regular installments shall have been made. The Sponsor makes no representation as to the ability of the cooperative corporation to

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59. RESERVE FUND On the Closing Date, from the amount of cash raised by this Offering, the Apartment Corporation will retain the sum of $10,000 net of closing adjustments. This reserve fund may be held for working capital, determined by the Board of Directors. No representation is made that the reserve fund will be adequate to cover current or future expenses, including repairs or replacements, and if additional funds are required over and above the reserve fund, it may be necessary to in­ crease maintenance charges. THE PROPERTY IS OFFERED IN ITS CURRENT CONDITION AS SET FORTH IN THIS OFFERING PLAN. NO GOVERNMENT AGENCY HAS PASSED UPON THE ADEQUACY OF THE RESERVE FUND OR ON THE PHYSICAL CONDITION OF THE BUILDING

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nt may be removed on thirty (30) days no­ tice with cause. The Apartment Corporation, upon the sale of shares, has the right to approve or impose a transfer fee, not to exceed $500, on such approval of sale or lease. Corporate documents im­ pose these fees on shareholders other than Sponsor or holders of UnsoLd Shares. If the Plan grants Sponsor or holders of Unsold Shares the right to sell shares or lease units without consent of the Board of Directors. A copy of the By-Laws is set forth in Part II of the Plan. The Board of Directors need not be shareholders. They are elected annually and may be removed without cause by the shareholders. The governance of the corporation is the responsibility of the directors who may be removed by the shareholders. The Board of Directors is responsible to the shareholders for the operation of the Apartment Corporation. Individual directors bear a personal responsibility for the operations of the corpora­ tion to the extent that they ne

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ction with such assignment and transfer of shares; and (v) The Lessor upon assignment or transfer of shares, has the right to approve or impose a transfer fee, not to exceed $500, on such appro­ val of assignment or transfer; and (vi) A search or certification from a title or abstract company as the Directors may re­ quire; and (vii) Except in the case of an assignment, transfer or bequest to the Lessee's spouse, of the shares and this lease, and except as pro­ vided in Paragraph 38 of this lease, consent to such assignment shall have been authorized by resolution of the Directors, or given in writing by a majority of the Directors, or, if the Di­ rectors shall have failed or refused to give such consent within 30 days after submission of references to them or Lessor's agent, then by lessees owning of record at least 75% of the then issued shares of the Lessor. Consent by less~es as provided for herein shall be evi­ denced by written consent or by affirmative vote tak

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of maintenance or common charges, taxes, reserve or working capital fund payments, assessments, payments for repairs and improvements. There are no underlying mortgages for which the parties are obligated, nor are there any loans for which shares or units have been pledged as collateral or mortgaged. 2. FINANCIAL DISCLOSURE UPDATE a. The Sponsor owns the shares allocated to the apartments listed on Exhibit A attached hereto. b. None of the shares are pledged as collateral for loans. c. The aggregate monthly maintenance payments for all shares owned by the Sponsor is $ 3,500.68. d. The aggregate monthly rents received from tenants of all units owned by

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es, whether or not marketable or insurable; and 26. 1.3 there is no pending in rem action, tax certificate/lien sale or foreclosure action of any underlying mortgage affecting the Premises. 26.2 If any requirement in '126.1 is not satisfied at the time of the Closing, Purchaser shall give Seller Notice and if the same is not satisfied within a reasonable period of time thereafter, then either Party may cancel tius Contract (pursuant to ,'116.3) by Notice. 27 ESCROW TERMS -SEE ESCROW AGREEMENT 27.1 The Contract Deposit shall be deposited by Escroviee in an escrow account as set forth [in ] 1.24 and the proceeds held and disbursed in accordance ','lith the tenus of this Contract. At Closing, the Contract Deposit shall be paid by Escro"vee to Seller. If the Closing does not occur and either Party gives Notice to Escroviee demanding payment of the Contract Deposit, Escroviee shall give prompt Notice to the other Party of sach demand. If Escrowee does not receive a Notic

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s a C Corporation for Federal, State and City tax purposes. Therefore, a provision for Federal, State and City taxes has been made. 2. MONEY MARKET/RESERVE FUND A reconciliation of the reserve account, money market account for the years ended December 31, 2018 and 2017 is as follows: CaQital One - Money Market Reserve Account 2018 2017 Balance - January 1, $ 227,491 $ 132,972 Interest Income 2,307 463 Net Transfers to/from Operating Account 16,963 73,556 Application & Move In/Out Fee 2,500 20,500 Balance - December 31, $ 249.261 $ 227,491 ~ r.; ~ ~ ~ ~ 3. PREPAID EXPENSES -W Q -< r,;: 4. 2018 2017 Prepaid expenses consist of the following: Prepaid Insurance $ 28,136 $ 22,517 Prepaid Real Estate Taxes -0- 45,469 Total Prepaid Expenses at December 31, $ 28,136 $ 67,986 FIXED ASSETS The building and improvements are recorded at cost and depreciated by the straight-line method over their useful lives ranging from 5-27 112 years. Fixed Assets consist of the foll

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nd principals are currents in its financial obligations, including, but not limited to, payment of maintenance or common charges, taxes, reserve or working capital fund payments, assessments, payments for repairs and improvements. There are no underlying mortgages for which the parties are obligated, nor are there any loans for which shares or units have been pledged as collateral or mortgaged. 2. FINANCIAL DISCLOSURE UPDATE a. The Sponsor owns the shares allocated to the apartments listed on Exhibit A attached hereto. b. None of the shares are pledged as collateral for loans. c. The aggregate monthly maintenance payments for all shares owned by the Sponsor is $ 3,500.68. d. The aggregate monthly rents received from tenants of all units owned by

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ssets of the Sponsor. g. The Sponsor is current on all financial obligations under the Plan, including but not limited to, maintenance, reserve and working capital fund payments, assessments and payments for repairs or improvements. The Sponsor was current on all such obligations during the year prior to the filing of this Amendment. h. The Board of Directors is controlled by the resident shareholders. The members of the Board are: Ron D' Addario Patrick Gallagher Grace Kowalcyk President Vice-President Treasurer and Secretary i. The Sponsor or principal of the Sponsor, as holder of unsold shares or as general partner or principal of the Sponsor owns more than ten (10%) percent of the shares in the buildings which plans are on file with the New York State Department of Law listed in Exhibit B attached hereto. The Sponsor is current on its obligations in the aforementioned buildings. 3. TAX DISCLOSURE On January 1,2018, the Tax Cuts and Jobs Act of2017 went into effec

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me Sublet Income Inter(~st Income Income Other Income Laundry Income Total Proposed Income NET SUf{PUJS(DEFICIT) Per will be PHOPOSED ANNUAL MAINTENANCE INCREASE Incn::ase Dollar increase Per Share (Based on 20,000 shares) 12/31/2017 15,239 2D,982 9,224 3D,122 30,877 10,'141 227,395 22,,274 6,989 362,629 2,570 463 30,489 6,834 402,985 403,898 They are now collecting STORAGE Income---no need for maintenance increase ···PUS NOTE THAT BOTH MTG and BOILER INSTALLATION LOANS HAVE HE Taxes is now being paid operating account not mortgage. 9/30/2018 12/31/2019 9,384 18,773 24,883 30,000 5,101 "1,26"1 35,168 41,078 27,832 38,965 12,000 12.101 13,100 93,909 282,159 17,923 24,531 1,079 5,000 8,941 9,388 225,125 371,810 45,377 45,98"1 7,360 9,813 981 486 13,9::18 18,671 8,661 32,013 8,000 301 486,780 483,260 56,087 0% $ SATISFIED in 2015***

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apportion same and deliver the appropriate amount to Seller except to the extent such credit and/or reduction/rebate is offset by a "special assessment" imposed on shareholder by the cooperative corporation. The terms of this provision shall survive closing. 39. Supplementing Paragraph 11.1.2.2 Purchaser shall pay all New York City and all New York State Transfer Taxes. 40. Purchaser acknowledges having received and read the Offering Plan to convert the Building to Cooperative ownership, together with the Amendments thereto (collectively, the "Plan"), at least three full business days prior to signing this Contract. Purchaser acknowledges that he is purchasing the unit from the Seller in Seller's capacity as a Sponsor (as defined in the Plan). 41. This Contract, Rider and Second Rider may be executed in counterparts, each of which shall be considered an original, but which together shall constitute but one and the same Contract. This Contract may also be executed and transmi

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, if any, payable to the Corporation, at the date of this Contract is$ , payable as follows: 1.19 [Seller] [Purohaser] shall pay the Corporation's flip tax, transfer fee (apart ffORl the transfer agent fee) and/or waiver of option fee ("Flip Ta)("), if any. 1.20 Financing Options (Delete twoofthefollowing,~'[1.20.1, 1.20.2 or 1.20.3 1.20.1 Purchaser may apply for financing in connection with this sale and Purchaser's obligation to purchase under this Contract is contingent upon issuance of a Loan Commitment Letter by the Loan Commitment Date (,~18.1.2). 1.20.2 Purchaser may apply for financing in connection with this sale but Purchaser's obligation to purchase under this Contract is not contingent upon issuance of a Loan Commitment Letter. © 2019 Matthew Bender & Co., a member of the LexisNcxis Group.

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tion relating to Purchaser's financing; and 11.1.2.2 transfer taxes imposed by statute primarily on Purchaser (e.g., the "mansion tax"). 11.2 The Flip Tax, irany, shall be paid by the Party Speoified in ~1.19. 11.3 Any fee imposed by the Corporation and not specified in this Contract shall be paid by the Party upon whom such fee is expressly imposed by the Corporation, and if no Party is specified by the Corporation, then such fcc shall be paid by Seller. 11.4 The Parties shall apportion as of 11:59 P.M. of the NYSBA's Residential Real Estate Forms 4 day preceding the Closing, the Maintenance, any other periodic charges due the Corporation (other than Assessments) and STAR Tax Exemption (if the Unit is the beneficiary of same), based on the number of the days in the month of Closing. 11.5 Assessments, whether payable in a lump sum or installments, shall not be apportioned, but shall be paid by the Party who is the owner of the Shares on the date specified by the C