New Property Update

Our efforts to acquire the new property in Hempstead, NY have been delayed due to the Court action that we have filed in the Nassau County Supreme Court to seek specific performance and damages by the Sellers. First Spanish Baptist Church has filed a motion for summary judgment to dismiss our case, which is scheduled for a hearing on February 13, 2004. Our attorneys have researched the relevant laws and are certain that we will prevail at the hearing and eventually be successful in enforcing the contract. Should plaintiff's motion for summary judgment be denied, the case will then proceed through discovery and hopefully will be heard in the merits in a few months.

On the fundraising front for the new temple, we continue to receive donations. We have so far collected over $201,500.00 for the acquisition of new property. In addition, several members have volunteered5 to provide interest-free loans to the association for the remaining amount required. We remain thankful to all members who have contributed and remind others that our fund raising efforts have not stopped.

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