Satellite Communities Inc.

“Partnership mgmt fees $4472”

“Allocable share ps expenses $17”

“INVESTMENT IN JACK CAPON VILLA LLC - Beginning $291962 INVESTMENT IN JACK CAPON VILLA LLC - Ending $291957”

“PARTNERSHIP MGMT FEES RECEIVABLE - Beginning $3792 PARTNERSHIP MGMT FEES RECEIVABLE - Ending $4343”

“PARTNERSHIP MGMT FEE PAYABLE - Beginning $3792 PARTNERSHIP MGMT FEE PAYABLE - Ending $4343”

“ON JULY 10, 2018, THE ARTICLES OF INCORPORATION OF SATELLITE COMMUNITIES, INC. WERE AMENDED AS FOLLOWS: ARTICLE II, SECTION (B) OF THE ARTICLES OF INCORPORATION OF THE CORPORATION IS AMENDED TO READ AS FOLLOWS: "(B) THE SPECIFIC PURPOSES FOR WHICH THE CORPORATION IS ORGANIZED ARE (i) EXCLUSIVELY FOR CHARITABLE PURPOSES WITHIN THE MEANING OF SECTION 501(c)(3) OF THE INTERNAL REVENUE CODE OF 1986 OR THE CORRESPONDING PROVISIONS OF ANY FUTURE UNITED STATES INTERNAL REVENUE LAW, (ii) TO BENEFIT AND SUPPORT SATELLITE AFFORDABLE HOUSING ASSOCIATES, A CALIFORNIA NONPROFIT PUBLIC BENEFIT CORPORATON IN CARRYING OUT ITS PURPOSE TO ACCORDANCE WITH THE PROVISIONS OF INTERNAL REVENUE CODE SECTION 509(a)(3), (iii) BY PROVIDING AFFORDABLE HOUSING FOR LOW-INCOME PERSONS, WHERE NO ADEQUATE HOUSING EXISTS FOR SUCH GROUPS; AND (iv) SERVING AS A GENERAL PARTNER IN LIMITED PARTNERSHIPS WHICH OWN AND OPERATE HOUSING FOR THE BENEFIT OF LOW-INCOME PERSONS IN THE SAN FRANCISCO BAY AREA WHO ARE IN NEED OF AFFORDABLE, DECENT, SAFE AND SANITARY HOUSING AND RELATED SERVICES, WHERE ADEQUTE HOUSING EXISTS FOR SUCH GROUPS."ON JULY 10, 2018, THE BYLAWS OF THE ORGANIZATION WERE AMENDED AS FOLLOWS:ARTICLE IV, SECTION 4.3, NUMBER OF DIRECTORS, IS AMENDED AS FOLLOWS:SECTION 4.3, DEDICATED PURPOSE, "THE AUTHORIZED NUMBER OF DIRECTORS OF CORPORATION SHALL BE EQUAL TO THE NUMBER OF DIRECTORS OF SATELLITE AFFORDABLE HOUSING ASSOCIATES, A CALIFORNIA NONPROFIT PUBLIC BENEFIT CORPORATION ("SATELLITE"). ANY CHANGES IN THE NUMBER OF DIRECTORS OF SATELLITE SHALL RESULT IN A CHANGE IN THE NUMBER OF DIRECTORS OF THIS CORPORATION, UPON RATIFICATION BY THIS BOARD."”