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REVIEWED 05-07-1980; AN INCREASE IN INTEREST RATES ON MORTGAGE LOANS MADE TO PURCHASERS BY THE WILLIAMSBURGH SAVING BANK; LIQUIDATION OF SPONSOR CORPORATION AND DISTRIBUTION OF ASSETS TO D.W. CAMPAGNA, IT'S SOLE SHAREHOLDER PROVISION OF LETTER OF CREDIT FROM CHEMICAL BANK TO BOARD OF MANAGERS TO SECURE SPONSOR'S OBLIGATION,
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REVIEWED 01-23-1980; COMMITMENTS FOR MORTGAGE LOANS TO PURCHASERS OF UNITS WILL, FROM 11-01-1979 ON, PROVIDE FOR INTEREST AT 10 1/4% (OR MAXIMUM AMOUNT PERMITTED BY LAW AT CLOSING), INSTEAD OF 10%