This Disclosure Statement is provided by Walter Flood, Realtor, and is NOT endorsed or authorized by Atkinson Towers, Inc., the Board of Directors, and/or Certified Management, Inc. Date: January 27, 2008.

1. It is understood that the Purchase Contract (PKA: DROA) is for purchasing a deed in Atkinson Towers Condominium, which is represented by Apartment #1003, use of parking stall #67, use of the assigned space in the storage room and the co-use of the limited common elements.

2. Buyer understands that the project, Atkinson Towers, Inc., is a residential cooperative, as of this date: January 27, 2008, and the stockholder/owner/seller is in the process of converting his interest to a residential condominium.

3. Buyer understands that the ground lease rent, for the 10,500 sq.ft. property owner by Mr. Lloyd Char has been set for the period Jan. 1, 2007 to Dec. 31, 2016 is $66,000.00. The parking stall ground lease rent "pro ration" for Apt #1003 is: $46.22/month - as of Jan. 1, 2008.

Note: The "Maintenance Fee" (which includes: parking lot ground lease rent, real property taxes, Atkinson Towers, Inc. building insurance, basic TV cable, and other association expenses) is $466.11/month as of 01/01/2008.

The Buyer is encouraged to review the corporation's current financial statement and seek legal advice prior to purchasing an interest in Atkinson Towers.

4. Buyer understands that at the end of this ten-year period (December 31, 2016), Atkinson Towers' interest in the parking lot will expire.

5. Buyer understands that the master lease on the 10,500 sq.ft. parcel (parking lot) expires on December 31, 2016 and that if the Condominium is not successful in purchasing the leased fee interest in the parcel owned by Mr. Lloyd Char or in obtaining an extension of the lease, that particular portion of Buyer's vested interest in Atkinson Towers will terminate with no residual value or recovery of investment.

This is known as the "surrender clause" in the master lease. To wit: The Lessee (Atkinson Towers) will be required to turn over the Lloyd Char property, including the improvements (if any), to the Lessor at the termination of the lease.

Furthermore, it is understood that if the Condominium is not successful in purchasing the leased fee interest (fee simple), or in gaining an extension of the ground lease, the value of the Owners' interest in Atkinson Towers Condominium may diminish as the year of the expiration of the Master Lease approaches.

Note I: The previous Corporation has negotiated with the Lessor (Floyd Char) to purchase the fee simple interest in the property (10,500 sq.ft.). If/when their offer is accepted, the new Condominium will have an opportunity to finance the purchase price for the Owners and the pro-ration for apartment #1003 would/could be $95/month, or approximately $50 more than the current fee for the parking stall.

Note II: The Corporation has approached the Lessor (Floyd Char) to co-develop the property (10,500 sq.ft.), along with the adjoining lots, and build a new highrise condominium, with an extra 64 parking stalls (under cover) exclusively for Atkinson Towers' Owners. If/when this happens, ALL the owners will have an opportunity to purchase a parking stall, in fee simple, either on the Atkinson Towers' lot, or in the new project.

Note III: If all the above fails, the Corporation will/can build a double deck parking garage, on Atkinson Towers' property, with enough parking stalls for all the Owners.

Note: This Disclosure Statement was prepared/provided by Walter W. Flood, Realtor, and NOT by Atkinson Towers, Inc. and/or Certified Management, Inc. Finally, there is no guarantee that any, some, or all of the proposals will happen.

Note: This document can NOT be modified, revised, altered, copied, reproduced, shared, faxed, e-Mailed, and/or linked/uploaded to a website, without the written consent from Walter W. Flood, Realtor

The above information is from sources deemed to be reliable, but is not guaranteed, and the Seller or the Seller's Agent are not liable or responsible for any inaccuracies, error or omissions.

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Walt Flood Realty * Phone: 808-922-1659 *  Fax: 808-922-1659
 1750 Kalakaua Ave., Suite 103, Honolulu, HI 96826-3795