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2. FINANCIAL OBLIGATIONS OF NEW HOLDER
(a) As of May 1, 202 5, the aggregate monthly maintenance payable by New Holder
to the Apartment Corporation with respect to the Unsold Units equaled $2,771.47, as shown on
Exhibit A.
(b) As of May 1, 202 5, the aggregate monthly base rental received by New Holder
from its tenants was $3,485.00. None of the Unsold Units were vacant on such date.
(c) The Unsold Units are not encumbered by any financing.
(d) There are no financial obligations from New Holder to the Apartment Corporation
which will become due within twelve (12) months from the date of this Amendment, exclusive
of maintenance and assessments . New Holder will fund its obligations to pay monthly
maintenance to the Apartment Corporation from the proceeds of sales of the Unsold Units , as
well as from the rents received from the Unsold Units. In the event that the proceeds of sale or
such rental is not sufficient to pay monthly maintenance, New Holder will use its available assets
to pay same.
(e) New Holder is current on all financial obligations referred to in this Amendment
and to the Apartment Corporation.
3. OFFERINGS IN WHICH NEW HOLDER AND ITS PRINCIPALS OWN MORE
THAN 10%
The New Holder has participated in offerings and owns more than ten (10%) percent of
the unsold shares in those co operatives in the State of New York set forth on Exhibit B -1.
Entities controlled by principals of New Holder own more than ten (10%) percent in
cooperatives and condominiums set forth on Exhibit B -2. Each of Successor Sponsor with
respect to the properties described in Exhibit B-1 and the sponsors/holders of unsold shares with
respect to the properties described in Exhibit B-2 is current in its respective obligations pursuant
to the offering plan for each property. Copies of all such plans are available for inspection at the
Office of the New York State Department of Law, 28 Liberty Street, 21 st Floor, New York, New
York 10005.
4. FINANCIAL STATEMENTS AND BUDGET
The most recent audited financial statements for the Apartment Corporation provided by
the managing agent for the years ended December 31, 2023 and December 31, 2022 are attached
hereto as Exhibit B. New Holder has not independently verified and does not adopt the
projections set forth in said financial statements, which are attached to this Amendment for
informational purposes only. The Apartment Corporation’s financial statement for the year
ending December 31, 202 4 is not ye t available. Prospective purchasers are advised to inquire
with the Apartment Corporation’s managing agent as to the availability of same and, if available,
request a copy of such document. The Apartment Corporation’s budget for 2025 has not yet been
approved. Prospective purchasers are advised to inquire with the Apartment Corporation ’s
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managing agent as to the availability of same and, if available, request a copy of such document.
A prospective purchaser is advised that New Holder does not represent, assure or guarantee the
accuracy, adequacy or completeness of the attached budget or financial statements.
5. OFFICERS AND DIRECTORS
The following persons are the directors of the Apartment Corporation : Dr. Mansour
Zandieh, President ; Hualiang Yu, Treasurer ; Shirin Woods, Secretary ; Jing Shi, Director ;
Rosalba Barahona, Director ; and Ben Bra unstein, Director. None of the directors are currently
New Holder.
6. DISCLOSURE REGARDING US TREASURY DEPARTMENT’S FINANCIAL
CRIMES ENFORCEMENT NETWORK
Effective as of April 15, 2025, the Financial Crimes Enforcement Network (“FinCEN”)
reissued its Geographic Target Order (the “GTO”) which requires title insurance companies to
collect and report information about persons involved in certain residential real estate
transactions in furtherance of the Bank Secrecy Act and expanded its coverage.
Contract-vendees and prospective purchasers are advised that, in compliance with the
revised GTO, title companies are required to collect and report to FinCEN the personal identity
of purchasers in residential real estate transactions in the following counties:
• New York: Boroughs—Brooklyn, Queens, Bronx, Staten Island or Manhattan
• Texas: Bexar, Tarrant, Dallas, Montgomery, Harris, or Webb, Travis Counties
• Florida: Miami-Dade, Broward, Palm Beach, Hillsborough, Pasco, Pinellas,
Manatee, Sarasota, Charlotte, Lee, and Collier Counties
• Maryland: Montgomery, Anne Arundel, Prince George’s or Howard Counties,
Baltimore City and County.
• California: San Diego, Los Angeles, San Francisco, San Mateo, or Santa Clara
Counties
• Colorado: Adams, Arapahoe, Clear Creek, Denver, Douglas, Eagle, Elbert, El
Paso, Fremont, Jefferson, Mesa, Pitkin, Pueblo, or Summit Counties
• Connecticut: Fairfield or Litchfield County
• Hawaii: City and County of Honolulu, and Counties of Hawaii, Maui, and Kauai
• Nevada: Clark County
• Virginia: Arlington or Fairfax Counties; or the cities of Alexandria, Falls Church,
or Fairfax
• Washington: King County
• Massachusetts: Suffolk, Middlesex, Bristol, Essex, Norfolk, and Plymouth
Counties
• Illinois: Cook County
• District of Columbia