Your access and use of this site is subject to the following terms and conditions and all applicable laws. By accessing and browsing this site, you accept these terms and conditions without limitation or qualification.

DISCLAIMER

All information contained in this area of the Bond Archives is obtained from sources believed to be accurate and reliable. While all information presented is believed to be accurate and reliable, it is prepared "without audit" unless otherwise identified as audited financial information. Due to the possibility of human or mechanical error as well as other factors, this information is provided "as is" without warranty of any kind and the Corporation make no representation, express or implied, as to the accuracy, reliability, completeness, or timeliness of this information, and is not responsible for any loss or damages incurred by parties using this information.

The electronic versions of the official statements, the annual reports of the Corporation (including its financial statements) and continuing disclosure agreement releases are posted in Adobe Portable Document Format (PDF) using Adobe Acrobat 4.0, and you will need Adobe Reader software to accurately read and print them. If you do not have the Adobe Reader, or if you are using a version earlier than that used in Adobe Acrobat 4.0, you may obtain an updated version of the Adobe Reader free of charge from the Adobe web site at www.adobe.com. Using software other than the Adobe Reader included in Adobe Acrobat 4.0 may cause the financial statements that you view to differ from the official statements, annual reports (including financial statements) or continuing disclosure releases as they were posted on this web site or as they appear in the Corporation's printed version, and you assume the risk of any such discrepancies as well as any discrepancies related to communication transmission, printer format changes or other printing problems. If you would like to obtain copies of the printed official statements, annual reports (including financial statements) or continuing disclosure releases, please contact Aaron Donovan, New York City Housing Development Corporation, 110 William Street, 10th Floor, New York, New York 10038, telephone: (212) 227-5500, fax: (212) 227-6846, or by e-mail to: bonds@nychdc.com.

The information contained at this website has been included for general informational purposes only and no person should make any investment decision in reliance upon the information contained herein. This website and the information contained herein do not constitute an offer to sell or the solicitation of an offer to buy any securities. The Corporation currently anticipates that future disclosure documents prepared from time to time in connection with the offering and sale of securities by it may contain information updating or supplementing the information presented at this website. In addition, certain financial information and operating data, as well as information regarding certain material developments respecting the Corporation and securities from time to time issued by it, may be filed with the Municipal Securities Rulemaking Board or the Nationally Recognized Municipal Securities Information Repositories from time to time recognized by the Securities and Exchange Commission. The Corporation in its discretion will determine whether to include such updated information on its website or to otherwise supplement, update or modify the information at this website. Furthermore, the information in each document or file is dated as of the date or dates indicated, and the Corporation disclaims any duty or obligation either to update the information contained at this website or to maintain the availability of such information. Reference should be made to those other sources to obtain such supplemental, updated or modified information.

Under no circumstances shall the Corporation have any liability to any person or entity for (1) any loss or damage in whole or part caused by, resulting from or relating to any error (neglect or otherwise) or other circumstances involved in procuring, collecting, compiling, interpreting, analyzing, editing, transcribing, communicating or delivering any such information, or (2) any direct, indirect, special, consequential or incidental damages whatsoever, even if the Corporation is advised in advance of the possibility of such damages, resulting from the use of, or inability to use, any such information.

RESTRICTIONS ON USE OF WEBSITE MATERIALS

The Corporation maintains this website to provide you with information, and for education and communication. Please feel free to browse the site. Material displayed on this site may be downloaded for non-commercial, personal use only provided you also retain all copyright and other proprietary notices contained on the materials. You may not, however, distribute, modify, transmit, reuse, repost, or use the contents of this site for public or commercial purposes, including the text, images, audio, and video without the permission of the Corporation.

AUTHENTICATION

http:\\www.nychdc.com constitutes the official website of the New York City Housing Development Corporation. No other website, provider or service is authorized to provide online information regarding the affairs of the Corporation.

ACKNOWLEDGMENT OF DISCLAIMER

I have read the foregoing disclaimer and expressly agree to each of its terms; I also understand that, as indicated above, official forms of disclosure documents are available elsewhere and that material information important to the making of informed investment decisions may have been posted elsewhere.