Uniform Cooperative Questionnaire

GENERAL INFORMATION Borrower’s Last Name: Loan Number: Co-op Name: Property Address: City: State: Zip: Sponsor/Developer Name:

COOPERATIVE INFORMATION

Unit Number: Sponsor Owned Units: Unit Shares: Sponsor Owned Shares: Building Total Shares: Sublet Units: Owner Occupied Units: Rent Controlled Units: Investor Occupied Units: Total Units:

1 Does the Cooperative qualify as a Residential Cooperative as defined by IRS Rule 216? YES NO

2 Is the sponsor/develop in control of the Cooperative? YES NO

The Co-op Land is: Owned Leased 3 If leased, an Attorney Opinion Letter and Copy of the Lease will be required.

4 Date the Proprietary Lease/Occupancy Agreement Expires:

5 Does any single person or entity (the same individual, investor group, partnership, or corporation) own more than the following total number of units (shares) in the project? YES NO • Projects with 2 to 4 units – 1 unit • Projects with 5 to 20 units – 2 units • Projects with 21 or more units – 20% If yes, how many units (shares) are held by each entity? #

6 Is any portion of the project designated for commercial/professional use only? YES NO If yes, the current annual budget and audited financial statement for the

will be required. If yes, what percentage of the project is commercial space? %

7 Is the project a Condop (consist of a Cooperative and Condominium)? YES NO If yes, what percentage of the project is represented by residential condominium units and professional units? %

8 Are any units more than 60 days delinquent? YES NO Number Delinquent: # Amount Delinquent: $

III. Forms and Disclosures 1 of 4 Document #3256 Return to Top 11/12/2020

Uniform Cooperative Questionnaire

9 Does the cooperative impose a flip tax or stock transfer fee? YES NO If yes, what is the flip tax or stock transfer fee amount or percentage? If yes, is the lender exempt from paying the flip tax if lender acquires the co-op unit in foreclosure, in lieu or any other transfer of the borrower’s interest in the co-op unit? YES NO

If yes, is the flip tax payable when the sales prices of the co-op unit exceeds the existing YES NO unit owner’s purchase price (based on property appreciation) and then is assessed

only on the amount of the appreciation in value (this flip tax is -based)?

10 Does the borrower assume his/her pro rata share of the blanket mortgage? YES NO

11 Is the project a limited equity cooperative? YES NO

12 Is the Cooperative, Project Developer or Sponsor named as a party in any litigation YES NO (other than foreclosure activity)? If yes, attach a letter of explanation from the attorney or a copy of the court complaint.

13 Does the cooperative have separate bank accounts for operating funds and reserves funds? YES NO

14 Does the management company maintain separate records for all cooperative’s and does YES NO not have the authority to draw checks or transfer funds from reserve accounts?

15 Do at least two members of the board sign all checks written on the reserve account? YES NO

16 Does the cooperative have any mandatory upfront or periodic membership fees for the use YES NO of recreational amenities, such as country club facilities and golf courses, owned by an outside party (including the developer or builder)?

17 Does the cooperative allow daily rentals or operate as a co-op hotel? YES NO

18 Does the cooperative operate as a continuing care community or facility? YES NO

19 Does the cooperative receive any tax/assessment abatements? YES NO If yes, type: If yes, expiration date:

20 Does the cooperative adhere to the Aztec recognition Agreement? YES NO If Yes, skip to question 29, Sponsor Information.

If No, please complete the following questions:

21 Is the lease or agreement assumable by the lender if the tenant-stockholder defaults on YES NO the share loan?

22 If the co-op’s organizational documents require that a tenant-stockholder be a natural YES NO person, can the lender select a non-corporate designee for any of a proprietary

III. Forms and Disclosures 2 of 4 Document #3256 Return to Top 11/12/2020

Uniform Cooperative Questionnaire lease or occupancy agreement that it acquires through foreclosure or acceptance of a deed in lieu of foreclosure?

23 If the lender assumes the lease or agreement as the result of the tenant-stockholder’s YES NO default, does the co-op corporation allow the lender to attempt to sell its interest in the lease or agreement? If yes, and the lender is unable to effect a satisfactory sale within 60 days either through YES NO its own efforts or with assistance from the co-op corporation does the co-op corporation prohibit the lender from subletting the unit?

24 In the event the tenant-stockholder has defaulted on his/her share loan, will the co-op YES NO corporation evict and terminate that tenant-stockholder’s lease, if the share loan holder requests it to do so?

25 Will the co-op notify the lender of any of the following changes or occurrences? • Any threatened or actual condemnation, eminent domain proceeding or acquisition, or any actual loss, whether or not covered by insurance, that affects any portion of the co-op project or unit YES NO • Failure to maintain compliance with co-operative corporation eligibility under IRS

Code Section 216 YES NO • Any 30-day delinquency by the co-op corporation in payments due under any blanket mortgage for taxes, assessments, and charges imposed by a government entity or public utility, or under any ground lease YES NO

• Any lapse, cancellation, or material modification of any insurance or fidelity YES NO insurance • Coverages maintained by the co-op project YES NO • Any proposed action that requires the consent of a specified percentage of eligible share loan holders; and any 90-day delinquency by the tenant-stockholder that is YES NO Related to the payment of monthly or carrying charges.

26 Do the projects governing documents grant the lender financing a share loan the right to YES NO cure the tenant-stockholder’s defaults in his/her assessment payments or carrying charges And the right to review and approve the following actions before the co-op corporation can consent to them? • Any surrender, cancellation, modification or assignment of any documents evidencing ownership, possession and use of a unit; • Any sublease of a unit • Any further or additional pledge or mortgage of any documents evidencing ownership, possession and use of a unit; • Any action to change the form of ownership of the project; or • The contraction, expansion or termination of the co-op project.

27 Does the co-op project’s documents allow the tenant-stockholders the right to amend them? YES NO

III. Forms and Disclosures 3 of 4 Document #3256 Return to Top 11/12/2020

Uniform Cooperative Questionnaire

28 Will the co-op notify the lender about any proposed material changes to the co-op project YES NO with respect to allocation of membership interests, voting rights, insurance coverages, and any other provisions that are for the express benefit of the lender?

SPONSOR INFORMATION: 29 Is the sponsor/developer current on all financial obligations to the project? YES NO

30 Does the sponsor/developer have any ownership interest in the project other than unsold YES NO units? If yes, describe the ownership interest (e. g. owns the amenities, parking, professional units):

31 Date the last Attorney General Amendment was filed (New York Only) YES NO

UNDERLYING FIRST MORTGAGE INFORMATION Lender: Arm or Fixed: Arm Fixed Unpaid Balance: Payment: Interest Rate: Maturity Date: Date of refinance (only applicable if within the Balloon Date (if applicable): most recent 12 months):

UNDERLYING SECOND MORTGAGE(S) INFORMATION: Lender: Unpaid Balance: Payment: Interest Rate: LINE OF CREDIT INFORMATION (MUST BE DISCLOSED EVEN IF THE CO-OP HAS NOT DRAWN ON THE FUNDS): Lender: Total Line Amount:

CERTIFICATION The undersigned hereby certifies that to the best of their knowledge and belief, the information and statements contained on this document and any attachments are true and correct.

Contact Name: Title: Company Name: Phone #: Company Address: City: State: Zip:

Signature: Date:

III. Forms and Disclosures 4 of 4 Document #3256 Return to Top 11/12/2020