Court File No. CV-16-11541-00CL

ONTARIO

SUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)

IN THE MATTER OF THE COMPANIES' CREDITORS ARRANGEMENT ACT, R.S.C. 1985, c. C-36, AS AMENDED AND IN THE MATTER OF A PLAN OF COMPROMISE OR ARRANGEMENT OF URBANCORP CUMBERLAND 2 GP INC., URBANCORP CUMBERLAND 2 L.P., BOSVEST INC., EDGE ON TRIANGLE PARK INC., AND EDGE RESIDENTIAL INC.

(the "Applicants")

Supplement to the Seventeenth Report of the Monitor Dated October 24, 2018

(On motion returnable October 25, 2018 for Transfer of Assets, Bankruptcy of Triangle and Residential, and CCAA Protection of Westside Galley Lofts Inc.)

DATE: October 24, 2018 GOLDMAN SLOAN NASH & HABER LLP

Barristers and Solicitors Suite 1600, 480 University Avenue Toronto, Ontario, M5G 1V2 Fax: 416-597-3370 Mario Forte LSUC #: 27293F Tel: 416-597-6477 Email: forte@gsnh.com

Robert J. Drake LSUC #: 57083G Tel: 416-597-5014 Email: drake@gsnh.com

Lawyers for The Fuller Landau Group Inc. in its capacity as the Monitor for Urbancorp Cumberland 2 GP Inc., Urbancorp Cumberland 2 L.P., Bosvest Inc., Edge Residential Inc., and Edge on Triangle Park Inc.

TO: THE SERVICE LIST

INDEX

Tab Document

1 Supplement to the Seventeenth Report of the Monitor dated October 24, 2018

A Unaudited Trial Balances for Westside: January 1, 2017 to December 1, 2017

B Cash Flow Forecast of Westside: October 14, 2018 to January 12, 2019

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Trial Balance: Accrual

Company: 0047 Westside Gallery Lofts Inc.Period Ending: 12/31/2017

Scope: YTD

Balance Sheet Accounts

* Account Account Opening ClosingCode Name Cur Balance Debit Credit Balance1055.06 Bank Account - TD Canada Trust 4,531.77 87,520.17 0.00 92,051.94

1080 Short-term Investments 239,320.38 0.00 0.00 239,320.38

1200 Accounts Receivable 15,255.00 177,088.81 0.00 192,343.81

1200.5 Trust #1- Harris Sheaffer LLP 19,040.99 44.30 0.00 19,085.29

1205 Accounts Receivable - Control 22,882.50 0.00 0.00 22,882.50

1215 Other Receivable -660.95 0.00 0.00 -660.95

1220.11 Advances - Others 709.62 0.00 0.00 709.62

1400.01 Loan Receivable II 215,550.66 0.00 -215,550.69 -0.03

1802 Inventory - Condominium 81,223.00 0.00 0.00 81,223.00

2100 Accounts Payable 16,372.33 0.00 0.00 16,372.33

2120 Account Payable - Control -655,507.29 0.00 0.00 -655,507.29

2130 Accrued Liabilities -45,393.63 0.00 0.00 -45,393.63

2330 GST - Input Tax Credit 4,117,282.16 0.00 0.00 4,117,282.16

2330.01 HST - ITC 1,306,547.15 0.00 0.00 1,306,547.15

2330.02 OHST - ITC 2,639,454.28 0.00 0.00 2,639,454.28

2335 GST Payable -3,193,296.53 0.00 0.00 -3,193,296.53

2335.01 HST Payable -1,440,006.07 0.00 0.00 -1,440,006.07

2335.02 OHST Payable -2,609,814.31 0.00 0.00 -2,609,814.31

2340 GST Remittance -3,103,429.54 0.00 0.00 -3,103,429.54

2340.01 HST Remittance 2,148,619.68 0.00 0.00 2,148,619.68

2500.100 I/C - Urbancorp (Patricia) Inc. 15,403.85 0.00 -15,404.00 -0.15

2500.103 I/C - Urbancorp (National) Inc. 56,072.35 0.00 0.00 56,072.35

2500.40 I/C - Urbancorp Toronto Mgt 2 -748,341.60 0.00 0.00 -748,341.60

2500.47A I/C- Westside Curve 5,146,501.79 82,245.32 0.00 5,228,747.11

2500.48 I/C - High Res -3,025.24 0.00 0.00 -3,025.24

2500.502 I/C - 25 Givins 395.50 0.00 0.00 395.50

2500.507 I/C - 85 Bellwoods 949.20 0.00 0.00 949.20

2500.51 I/C - Hoggs Hollow Inc. 529.75 0.00 -174.81 354.94

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2500.56 I/C - Urbancorp The Bridge Inc. 1,548.16 0.00 -1,548.00 0.16

2500.61 I/C - Urbancorp Management Inc 3,763.29 0.00 0.00 3,763.29

2500.67 I/C - Edge on Triangle Park Inc. 38,557.61 0.00 0.00 38,557.61

2500.68 I/C - Urbancorp (Leslieville) Devt's Inc 5,783.04 0.00 0.00 5,783.04

2500.69 I/C - Epic on Triangle Park Inc. 20,997.02 0.00 0.00 20,997.02

2500.72 I/C - Downsview 14,857.74 0.00 0.00 14,857.74

2500.75 I/C - 55 Howie Urbancorp (Riverdale) 1,243.00 0.00 0.00 1,243.00

2500.76 I/C - Urbancorp (The Beach) Dev Inc 5,446.60 0.00 0.00 5,446.60

2500.77 I/C - Urbancorp Renewable Power Inc. -7,000.00 0.00 0.00 -7,000.00

2500.86 I/C - Urbancorp (952 Queen West) Inc. 49,963.92 0.00 -49,964.00 -0.08

2500.87 I/C - Vestaco Homes Inc. 835.48 0.00 0.00 835.48

2500.88 I/C - Urbancorp (Valermo) Inc. -0.01 0.00 0.00 -0.01

2500.89 I/C - Urbancorp Residential Inc. 253,039.18 45,905.35 0.00 298,944.53

2500.90 I/C - Landmark Building Corporation 1,130.00 0.00 0.00 1,130.00

2500.92 I/C - Urbancorp (121 Avenue Road) Inc. 9,855.50 0.00 0.00 9,855.50

2500.94 I/C - Urbancorp (St. Clair Village) 21,953.24 0.00 -21,953.00 0.24

2500.95 I/C - Urbancorp (Lawrence) Inc. 25,420.46 0.00 -25,420.00 0.46

2500.96 I/C - King Residential Inc. 40,909.00 0.00 -40,909.00 0.00

2500.99 I/C - Urbancorp (Mallow) Inc. 21,716.30 0.00 -21,716.00 0.30

2700 Deferred Revenue 0.00 100.00 0.00 100.00

3600 Retained Earnings -2,943,256.52 0.00 0.00 -2,943,256.52

PROFIT (CURRENT YEAR) -264.453700 Capital Account -1,871,027.42 0.00 0.00 -1,871,027.42

3700.01 Capital Account - Others 0.23 0.00 0.00 0.23

3700.12 Capital a/c - withdrawals 57,097.38 0.00 0.00 57,097.38

------------- ------------- ------------- -------------Total Balance Sheet Accounts 0.00 392,903.95 -392,639.50 0.00

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Profit & Loss Accounts

* Account Account Opening ClosingCode Name Cur Balance Debit Credit Balance4200.02 Rental Income - Westside Gallery Lofts 0.00 0.00 -1,350.00 -1,350.00

4330 Interest Income 0.00 0.00 -1,923.53 -1,923.53

5615 Bank Charges 0.00 493.37 0.00 493.37

5616 Letter of Credit/Bond Fees 0.00 2,515.71 0.00 2,515.71------------- ------------- ------------- -------------

Total Profit & Loss Accounts 0.00 3,009.08 -3,273.53 -264.45------------- ------------- ------------- -------------

Total Report 0.00 395,913.03 -395,913.03 0.00------------- ------------- ------------- -------------

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Trial Balance: Accrual

Company: 0047A Westside - CurvePeriod Ending: 12/31/2017

Scope: YTD

Balance Sheet Accounts

* Account Account Opening ClosingCode Name Cur Balance Debit Credit Balance1055 Bank Account - General 2,304.88 14,331.33 0.00 16,636.21

1200 Accounts Receivable 0.00 54,885.00 0.00 54,885.00

1200.5 Trust #1- Harris Sheaffer LLP 217,698.87 1,753.17 0.00 219,452.04

1204 Condo Closing Receivable 56,384.25 0.00 0.00 56,384.25

1205 Accounts Receivable - Control 2,438.09 0.00 0.00 2,438.09

1215 Other Receivable 800.00 0.00 0.00 800.00

1510 Work in Progress - Soft Cost 1,025.00 0.00 0.00 1,025.00

1802 Inventory - Condominium 986,547.74 0.00 0.00 986,547.74

1882 Heat Pumps Equipment 6,638.93 0.00 0.00 6,638.93

2100 Accounts Payable -10,876.58 300.00 0.00 -10,576.58

2120 Account Payable - Control -115,006.72 9,175.56 0.00 -105,831.16

2125 Accounts Payable - Holdback -252,026.87 0.00 0.00 -252,026.87

2130 Accrued Liabilities -26,856.27 0.00 0.00 -26,856.27

2330 GST - Input Tax Credit 101,012.85 0.00 0.00 101,012.85

2330.01 HST - ITC 1,499,849.25 80.02 0.00 1,499,929.27

2330.02 OHST - ITC 2,331,742.76 72.47 0.00 2,331,815.23

2335 GST Payable -2,470.00 0.00 0.00 -2,470.00

2335.01 HST Payable -1,842,776.13 0.00 0.00 -1,842,776.13

2335.02 OHST Payable -2,242,251.57 0.00 0.00 -2,242,251.57

2340 GST Remittance -65,090.50 0.00 0.00 -65,090.50

2340.01 HST Remittance 355,670.90 0.00 0.00 355,670.90

2500.10 I/C - Marina Townhomes of South Beach In 2,000.00 0.00 0.00 2,000.00

2500.100 I/C - Urbancorp (Patricia) Inc. -125,000.00 0.00 0.00 -125,000.00

2500.107 I/C - Urbancorp Inc. 256,791.86 0.00 0.00 256,791.86

2500.109 I/C - Urbancorp Holdco Inc. 63,229.92 0.00 0.00 63,229.92

2500.110 I/C - Urbancorp Realtyco Inc. 1,377.92 0.00 0.00 1,377.92

2500.115 I/C - Urbancorp Investco Inc. 1,372.17 0.00 0.00 1,372.17

2500.32 I/C - TCC/Urbancorp (Stadium Road) LP -86,364.19 0.00 0.00 -86,364.19

2500.40 I/C - Urbancorp Toronto Mgt 2 -1,158,724.97 0.00 -32.24 -1,158,757.21

2500.47 I/C - Westside Lofts Inc. -5,146,501.49 0.00 -82,245.32 -5,228,746.81

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2500.52 I/C - TCC/Urbancorp (Bay) LP -1,363.12 0.00 0.00 -1,363.12

2500.56 I/C - Urbancorp The Bridge Inc. 9,232.28 0.00 -9,232.00 0.28

2500.61 I/C - Urbancorp Management Inc 1,449,399.87 0.00 0.00 1,449,399.87

2500.67 I/C - Edge on Triangle Park Inc. 137,377.57 0.00 0.00 137,377.57

2500.68 I/C - Urbancorp (Leslieville) Devt's Inc 3,125,091.24 0.00 0.00 3,125,091.24

2500.72 I/C - Downsview 13,669.97 0.00 0.00 13,669.97

2500.86 I/C - Urbancorp (952 Queen West) Inc. -17,000.00 0.00 0.00 -17,000.00

2500.89 I/C - Urbancorp Residential Inc. 647,708.58 0.00 0.00 647,708.58

2500.91 I/C - Vestaco Investments Inc. 1,777,829.00 0.00 0.00 1,777,829.00

2500.94 I/C - Urbancorp (St. Clair Village) 43,950.16 0.00 -43,950.00 0.16

2500.95 I/C - Urbancorp (Lawrence) Inc. 1,702.80 0.00 -1,703.00 -0.20

2700 Deferred Revenue -120.00 0.00 0.00 -120.00

3600 Retained Earnings -2,000,418.45 0.00 0.00 -2,000,418.45

LOSS (CURRENT YEAR) 56,565.01------------- ------------- ------------- -------------

Total Balance Sheet Accounts 0.00 80,597.55 -137,162.56 0.00------------- ------------- ------------- -------------

Profit & Loss Accounts

* Account Account Opening ClosingCode Name Cur Balance Debit Credit Balance4200.03 Rental Income - Curve 0.00 0.00 -16,900.00 -16,900.00

4330 Interest Income 0.00 0.00 -1,753.17 -1,753.17

5615 Bank Charges 0.00 137.72 0.00 137.72

5660 Property Taxes 0.00 14,748.85 0.00 14,748.85

5662 General and Admin 0.00 115.40 0.00 115.40

5666 Operating expenses 0.00 55,361.93 0.00 55,361.93

5670 Miscellaneous 0.00 42.79 0.00 42.79

5671 Courier Expense 0.00 38.24 0.00 38.24

5685 Repairs and Maintenance 0.00 900.00 0.00 900.00

5712 Interest and penalties 0.00 3,873.25 0.00 3,873.25

------------- ------------- ------------- -------------Total Profit & Loss Accounts 0.00 75,218.18 -18,653.17 56,565.01

------------- ------------- ------------- -------------Total Report 0.00 155,815.73 -155,815.73 0.00

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IN THE MATTER OF THE COMPANIES CREDITORS ARRANGEMENT ACT, R.S.C.1985, c. C-36, AS AMENDED

URBANCORP CUMBERLAND 2 GP INC., URBANCORP CUMBERLAND 2 L.P., BOSVEST INC., EDGE ON TRIANGLE PARK INC., AND EDGE RESIDENTIAL INC. (COLLECTIVELY, THE "APPLICANTS") PURSUANT TO THE COMPANIES' CREDITORS ARRANGEMENT ACT (the "CCAA")

Court File No. CV-16-11541-00CL

ONTARIO SUPERIOR COURT OF JUSTICE

(COMMERCIAL LIST)

Proceeding commenced at Toronto

Supplement to the Seventeenth Report of the Monitor Dated October 24, 2018

(On motion returnable October 25, 2018 for

Transfer of Assets, Bankruptcy of Triangle and Residential, and CCAA Protection of Westside

Galley Lofts Inc.)

GOLDMAN SLOAN NASH & HABER LLP Barristers and Solicitors Suite 1600, 480 University Avenue Toronto, Ontario, M5G 1V2 Fax: 416-597-3370 Mario Forte [LSUC No. 27293F] Tel: 416-597-6477 Robert J. Drake [LSUC No. 57083G] Tel: 416-597-5014 Lawyers for The Fuller Landau Group Inc. in its capacity as the Monitor for Urbancorp Cumberland 2 GP Inc., Urbancorp Cumberland 2 L.P., Bosvest Inc., Edge Residential Inc., and Edge on Triangle Park Inc.