Exhibit K-2
[Marked pages to revised Description of Property and Building Conditions on next page] DESCRIPTION OF PROPERTY AND SPECIFICATIONS 432 PARK AVENUE New York, New York 1041-12g6•17-11
LO(A ION AM, USE Of PPOPIKIL
ADDRESS. 432 PARK AVE1i4of New York.. New York
ROM NO 1292
LOTS NO 33. 43. 45 & 4b and the air tights trom lots 41 & 47
ZONING D6TRIC1 CS.15 & CS-3
RMISSISLE USES. Use Groups 1-6 and 9-11 in district CS-2.5 and CS-3 n per New York Zoning Resolution. whKh permits Residential, Community Facility and Commercial uses The proposed uses will comply with all zoning and use requirements. s_ UMW QUONMAKTIgh
YEAR OUrtr: The proiect is new tOnSULiCtion. The construction started in September of 2011 and based on current COnitruction schedule. it is anticipated that Attie first residential aautrageaxadtrxellUksigalliat will be--solyAantiaiiy-conipieted in Or about July of 2015, unless delayed by weather, strikes, lockouts. acu of God. shortages of, or inability to obtain materials, equipment or labor, governmental restrictions or preemption, damage by fire or the elements or any other cause over which the Sponsor has no control,
CLASS or CONSTRUCTION. the Building will be classified as Class I-8 (Non-Combustible) and will conform to all applicable regulations of the Building Code of the Oty of New York reuiodng Code), Cass I-B construction includes all buildings and spates in which all Maio( structural elements have a two-hour lire resistance rating
3. CERTIFICATE OF OCCUPANCY: Prior to the rint closing, the Sponsor will obtain a Temporary Certificate of Occupancy for those Residential Units which will be closed from the Department of Buildings of the City of New York ('Depari ment of Buildings-) After completion of construction the Sponsor will apply for a Certificate of Occupancy for the building from the Department of There will be one final CentlicAte of Occupancy for all uses and builrunti,
4 Alt.T4RA-TA0a4alayauga.fi PERMIT NUMBER: The plans were filed under number NB I 120628776 with the Depanment of auildings, in compliance with all applicable regulations for nrw buildings The prolect was not sell- certified SIC E Architects
II 1 ocamploinotALA40 PARK AVENU: ritiAM-111 5 OTHERS Mere It an exi;ling recorded lot restriction at the well isde of the property ediKent to Sn Pv14)ths°n The frlitriCtiOn provides for a 7 FT of tOr and ventilation space adjacent to s7S medlson beginning at about 54 FT above grade riPProilmelehr the bottom of the existing be' floor windows of SIS Madison The new building will comply with this restriction. C. mil I. sat In accordance with the Survey prepared by Manhattan Surveying, PC Licensed Land Surveyors. 225 Broadway New York, New York, the lot of the new development ute has a frontage of 101'4* along Fast 57th Street, 67--1' along Park Avenue arid 27S 0* on East 56" Street. The area of the lot is apprommately 34,470 SF.
NUMBERS & BUILDING USE Ali floor plant apartment drawings. 4nd other references to floors in this repon utilize the marketing numbering of !loots in lieu of an actual construction floor number. See W. UNIT INFORMATION
Them will be two separate buildings at the site-. • An gaaa story tower located at the center of the site that will contain Residential Units, Office Units, Retail Units, a Garage Unit and the Club Unit (The -Tower") The lower base will extend to sr-. Street and be occupied by portiOtIS of the Retail Units. • A 14- story building located at the corner of Park Avenue and Set' Street will contain a Retail Unit (The* Park Avenue Pavilion-)
The First Floor of the Tower will be occupied as follows: Facing 56" Street there will be a Main Lobby that will open into the Residential Lobby as well as to the Commercial lobby serving the Health Club and the Office Units_ The portion of the Land between the Main Lobby and East 56th Street will be occupied by a private courtyard (the •Courtyarcr), which will feature a semi-circular driveway leading from East 561h Street to the Main Lobby and the entry point to the Garage Unit and loading dock area The portion of the Land to the east of the Courtyard and to the west of the Park Avenue Pavilion will be occupied by a private garden (the •Garderr), which will feature landscaped areal. The building set-vice entrance, the emrances to the Garage and the Loading Dock are also located at the first Floor facing 56* Street.
lacing 57" Street there will be retail space
The south Haien of the le floor and floors 14" and 16P% of the Towet will be Occupied by the Health Club. The north section of the Ir floor of the Tower will house a Revaurant, a kitchen and a Terrace for the use of the residential occupants of the building and their guests only Me terrace well be quahlied as the buddengs residential recreation space In compliance with NYC Zoning Resolutions and no admission or membership fees will be charged for Its use
Floors 1101IL 19" & 20401 of the lower will be occupied by office spaces
S LC E A rchitects Page 2 of 41 Floors 28th and Z9th4.2, 34111 to 45,11•;41 48"' to Sir,,A, 62•" to 1-34171. 71 771* to ggilua, 63 to 86. 88 and 91" to gSwat of the Tower will be occupied by Residential Units,
Floors 30'1' and 3-11tral.. 460' and 4,71A,41. 601'• and 64"l 74bk and 7-,Su'r7.1,89t'' and 90th--- of the Tower will be occupied by mechanical rooms and open terraces. There will_be additional mechanical spaces inn floors 2"1-1-8"' 4. 15„ 18. 2Q and 247421 and other minor mechanical rooms In the non-residential floors of the
Tower °Os • s I • 4 • t • •06I DAM-.02.510-11111.111.1i21.-Mter.ltualsuiDattegeaernee
Floors 46,"12 to 1011I0 of the Tower will house Mechanical Rooms, the Elevators Machine Rooms, the window washing equipment and the mass dampers.
There will be a Cellar and a Sub-Cellar 2 occupying the entire development site, extending under the area occupied by the Tower, the Park Avenue Pavilion and the Garden. There will also be a partial level. Sub- Cellar 1 in the N-orthernnorthern part of the site between the Cellar and the Sub-Cellar 2
The Cellar will contain Retail Units to be used in conjunction with the Retail Units in sr Street and/ or Park Avenue Pavilion and Utility Rooms, From the Cellar there
are not locatul_in Ultima that tlag City tias the Dent teueposs ._iponsiatj)as
0 I, I ' O. • • II $ 6
The Sub-Cellar 2 will contain Parking accessory to residential and commercial occupants and Loading Berths for use by the commercial occupants as well as Resident's Storage Closets, Laundry Room. Employee's Locker Rooms and Utility Rooms,
The Sub- Cellar 1 will contain additional Resident's Storage Closets. aResiclent' • Wine CettarCellars and the Bicycle Storage
3. STREETS OWNED AND MAINTAINED BY THE PROJECT; The property fronts on East 57L'i Street on the Noftheorth. East 56°1 Street on the S0(4141011 and Park Avenue on the ENtastealL. The streets are paved with asphalt and are owned and maintained by the City of New York. No street Is owned by the project.
4. DRivES. SIDEWALKS AND RAMPS: The sidewalks adjacent to the property will be replaced with new concrete sidewalks running full width from the property line along to the street and pitched to drainage at the Curb. The new concrete sidewalk pavement will be free of tripping hazard and pondinp. There will be grilles for ConEdison electrical vaults at the 56th Street sidewalk,
(I) Paving: The streets are paved with asphalt and are owned and maintained by the City of New York.
SLCE Architects Page 3 of $I the kitchen Outlet in each Residential Unit that will be tied to the building's intercom system through the Concierge.
Similarly, the charges with f espect to the telephones in the Commercial Units will be sleParatetY paid for by the Commercial Unit Owners. The telephone charges with respect to the public areas of the building (such as the concierges desk, maintenance offices, etc.) will be borne by Unit Owners as a Common Expense arid apportioned for each Unit as provided in the First Year's Budget.
CAKE TREVLCION-. Cable Television service will be available for all Residential Units from Time Warner Cable (Or alternate cable TV company.) All charges for cable television service (including installation and subscription charges) will be paid by each Unit Owner, who subscribes directly to the cable TV company.
STEAM: Steam will be provided by ConEdison from East Sifit's Street. Two (2) separate meters will be providech-Cine; on meter for the Residential portion and one meter for the Commercial tenants A Pressure Reducing Valve station will provide steam to the heat exchangers on the mechanical floors and all other steam requirements for the Tower and the Park Avenue Pavilion
1.Wit54011.CrIttiNTIONS
1- FOUNDATIONS The budding will be founded on reinforced concrete spread footing and mat foundations bearing on 40 to 60 ton per St—souare foot of ,bedrock. Rock anchors 1 will be used in select locations to control tensile loads. The lowest basement floor will be a slab on grade. Perimeter reinforced concrete walk are extended to bedrock below the slab on grade which is intended to mitigate the ingress of ground water within the plot. The slab on grade is placed over a vapor barrier that is laid on top of a gravel and sand bed. A drainage system shall be placed within the gravel bed and directed to a sump system to remove nominal quantities of groundwater that pass through the bedrock. The underground levels will be confined by conventional concrete walls. Foundation walls shall be provided with a waterproofing membrane, and construction Joints shall have waterstoos to inhibit water infiltration. In order to negate additional ad-freezing stresses at foundation vans, all foundation work will be maintained at 50 degrees for 72 hours. Walls will be blanketed for at least 12 hours following pouring the concrete
F. IANOKKAPIALIDINIZIOURIa
GRASS COVER There will be limited amount of grass cover in certain areas of the Garden at 56'* Street
2. PtANTING AREAS These will be a landscaped Garden at the First Floor on the Sououth side of the property surrouoidiogattialeata the drop off. II There will be a larodscapeckerrace with planters at floor 12th facing S1''' Street. I TREES There will be trees in the landscaped Garden at the ground level on the Fieutkouth Side of the property Trees will be planted as required by Zoning Resolutions that indicates that one tree shall be provided every 25 of street frontage of the zoning lot. Where not feasible. SLCE Architects Page 5 of because of conflicts with utilities or garage entrances, trees will be planted in alternate locations recommended by the Parks Department.
No fencing will be provided 4. FENONG Nopi site gatesgsite will be provided JacuttelloasuzLaiinthitacar.1:111. 5_ GAMS There will be new site walls surrounding the First Floor Courtyard on the north side 6. GARDEN WALLS and next to the loading dock. The site walls will be faced in 54orliekdd-aitalgAZIA1 stuqo.
There will be no retaining walls other than the foundation walls. 7. RETAINING WALLS
G. IntILOJNQ HEIGH' The approximate total height of the Tower horn itie4obby4i.1454ed-1100icath 1. TOTAL HEIGHT: elevation to the too of the main roof enclosure is ;496-70.1.1021.• The approximate height of the Park Avenue Pavilion Is 841.11,-Ullealikadt1I-Cal-". aestalfilishIslatIOLlifZialgia12-thtLtastatmatox2s111.00111112,
CRAWL SPACES There will be no crawl spaces. There will be one Cellar, one full Sub-Cellar 2 and a partial Sub-Cellar 1 level.1I1e. No of CELLARS The Cellar floor-to-floor height will be approximately 23" The Sub- Cellar 2 floor4O.410ot height iLvall be approximately 22' and 10' atoosioL the Sub- Cellar 1 area The Sub- Cellar 1 win have an approximate floor-to•floor height of 11'
There will be 84U construction stories above grade 4. NoNASIDER of FLOORS The floor-to-floor heights of the Residential Units will be 15'-6- except the uoitimiu at marketing fl0of451*-Lbat-49-31!--fl00r-40-fl001-Atso-unitsr-Praod--8-a4-floors21 36n4er4014F-4-2"-arid-44'%-w41-ith3ve-a-floor4o--flooeig44--of--341. pod 86 that VliLlar-31-11g2L1211-0-0L- Actual clear heights will be lower due to the thickness of slab, beams, finish floor and ceiling construction and installations of mechanical, electrical and plumbing systems, and will vary from room to room.
There will be Mechanical Rooms at the Cellar, Sub-Cellar land Sub-Cellar 2, FloorS. S. EQUIPMENT ROOMS rdratter.261N4rorarlr4er4rr-6Cer61'ir70•145s'rarrrg0112, 4, IS_ 18 20, 21_ sLa31xuA7. 60.11/6...1132-20 and 96111Z to 11461402, There will be a mass damper at the top of the budding. There will be additional mechanical floors contained within the retail floors as well as the office floors and the top floor of the building In Park Avenueh
Height from top of roof finish to top of parapet or handrails at mechanical floors will 6. PARAPETS be a minimum of above finished roof, The too of the buildiniz
H.SIRUclufum. 5 _STEMS
SLCE Architects Page 6 of The structural design of the foundations and superstructure will be in accordance with the New York City Budding Code, including all regulations for wind and seismic loads.
Wind and seismic lateral loads are resisted by concrete shear walls, a perimeter column/beam tube system, and slab frames across the width of the building and parallel to the length. Outrigger braces or walls are provided intermittently throughout the height of the Tower to provide additional lateral bracing.
All Tower levels above ground are flat plate reinforced concrete COnStfuCtIOrt supported by reinforced concrete columns and shear walls.
Ground floor and retail spaces beyond the Tower footprint at 57" Street and at the Park Avenue Pavilion shall be primarily steel framed with composite concrete over metal deck slabs.
Supplemental damping systems are located at the top of the Tower to mitigate the lateral movement and reduce it to levels acceptable In the industry.
1. EXTERIOR OF BUILDINGS Tower Walls: The walls are made of dense cast-in-place concrete, with 2" semi-rigid continuous Insulation with a vapor-retarding wrapping the concrete interior columns and perimeter beams, at the room side, with a metal stud framed gypsum board finish. The aluminum windows have a large fixed light, comprised of an insulating glass unit with a high performance Low-E coating, held in a thermally broken aluminum frame, sealed to the perimeter concrete opening. The aluminum wall system will be custom manufactured by ENCLOS inc or comparable equal. The average assembly U-value for the opaque wall is 0.143 BIU/hr"P"It2. (Roughly equivalent to an R-7) The window assembly U-Value is 0.4013Tu/hr"F•ft2.
All exterior wall assemblies, roofs and terraces shall have Insulation values in compliance with the New York State Energy Code and fire resistance ratings in compliance with the New York City Building Code. The high strength concrete's density and the properly sealed windows willbave been designed to prevent water penetration into the building.
Retail Units: The Retail Units at 57"' Street and the Part Avenue Pavilion will have aluminum curtainwall and glass storefront. Other decorative materials may be used on the exterior of the budding
Local law 11/ 1998 is applicable. Following construction, exterior building facade will have to be inspected by a licensed professional eegioeer-tneine0E or afehiteo,Architest every 5 years during standard reporting periods established by the City of New York.
(ii) Windows At the residential floors, the windows system will consist of a glazed area Inserted In an extruded aluminum frame The windows will have high performance finishes and will be glazed with factory assembled insulated glass units that will provide for the proper sound Insulation of the building. Windows will be thermally broken.
SLCE Architects Page 7 an Windows will have a fiveyear warranty on labor and materials and a ten-year warranty for the paint of the windows.
Glass panels will be either insulated clear or fritted glass or insulated glass at shadow boxes The factory assembled insulated glass units MA will have a low-e coating and two layers of tigaursatecLiaminated oul.bibilligialLand one layer of latilLutaiesJ fully tempered glass, Lle—gLovided at locations slik Ail window sills will be metal or other. The natural ventilation will occur through opaque vent panels located in the lower part of the fixed glazed area. The vents panels will be enclosing exterior fixed louvers. Special windows: The windows at the West=It facade in the north half of the Tower are located within 8' of the property line. None of these windows will provide legal light and air for the surrounding rooms for the purpose of permissible occupancy of those rooms and the windows located below 1.18'•r or 60 above the adjacent building roof (4th floor) will be provided with tempered glass and will be protected with sprinklers. If in the future the adjacent buildings within 60' are extended in height, the protection of the windows with tempered glass and sprinklers should be extended accordingly and they may be required to be dosed with a solid and rated enclosure or replaced with one hour rated windows. The cost of the required changes will be paid by the owner of the affected unit. A restrictive declaration will be recorded for these windows, The windows at the East= facade of the Tower are located at the tax lot line between lots 42 and 43. An agreement has been signed with the owner of lot 42 that provides a perpetual easement for light and air over Its property and a limitation not to build higher than its present height. Windows at this tax lot line will be protected with sprinklers and will have safety glass to a height of 60' above the roof of lot 42 (5th floor) The windows of the Club Unit and Office Units will have similar characteristics and restrictions as the residential windows
The Retail Units in 57th Street and Park Avenue Pavilion will be provided with a curtainwall system.
All exterior metals, including fasteners shall be corrosion resistant.
2. PARAPETS AND COPINGS The concrete structure and the window modules will extend above the main roof level of the building creating an enclosure for the mechanical equipment. No separate parapets will be provided at the top of the building.
3, 0-ilMNEYS The building has two refuse chutes with rated doors opening at residential floors. There is no boiler flue. The generator flue will be located at the top Of the Park Avenue Pavilion There will be chimneys for gas-fireplaces located at g5lh" Ugh. 88th and 91st to 9S2ce floor apartments. Fireplaces will not-be wood burningand P.A3S
SIX E Architects
Page 8 of Si LI BALCONIES AND TERRACESThere will be no balconies in the budding There will be not -accessible terraces at the mechanical floors There will be a terrace accessible to all the budding residents at the 12'1' floor as part of the building amenities.
Deck Finish: The amenities terrace on the 121' floor will have paversof-wood-dec-k over a roofing
system. A storm drainage system will be provided forite 12 floor with flow control drains and will be sized Weston base-otalbe 12 floor terrace area plus 50% of the vertical wall runoff of Tower, per 2008 NYC Building Code_
The mechanical floor terraces will have a protected roofing system. The doors to the terraces will be hollow metal.
(ii) Balustrade: There will be no balustrade
(di) Railings: The amenities terrace on the 12" floor will have a glass and metal railing, VI/1UL part of the curtainwall system. All honzontal railings at accessible terraces will be protected not to be used as ladders by children. The mechanical floor terraces will have metal railings.
(iv) Coping: All coping will be painted aluminum or stainless steel with non- corrosive hardware.
(v) Soffits: me amenities terrace on the 12" floor will be open to the sky, no soffits or ceilings will be provided. The mechanical terraces will have an extenor-use gypsum board ceiling.
(vi) Doors The doors to the amenities on the 12k" floor terrace will be part of the curtain wall system. The doors to the mechanical floor terraces will be hollow metal.
5. EXTERIOR ENTRANCE Exterior Doors and Frames: a. Main Entrance to Main Lobby: The main entrance will have two revolving doors and accessory swing doors with metal trim and tempered glass. The main entrance to the building will comply with ADA and all other applicable requirements.
b. Retail Entrance The main entrances at the Retail Units will be metal and glass revolving or swing doors.
(0) Vestibule Doors and Frames: There will be no vest ibules at the Main Lobby.
SLCE Architects Page 9 01'61 pa) t ‘tetke There %ill be no exterior stairs.
0,4 s Mere will be no railings at exterior MINIM:CS
Maii helixes: tY) indmdual residential mailboxes will be provided next to the Residential lobby at the ust Hoot
64) Lightillg! RtVCS:StVI at the canopy ceiling or wall mounted fixtures.
I nt MOM (00 No interom system will be provided from site entrance to individual Residential Units The concierge will have direct communication to all residences. There will be an mtercom twron the Service Entrance and the Concierge Desk.
6. sfima E N1RANCE (1) Exterior Doors and I:tames, a, Service Entrance ...The service entrance and egress stair exit will be aluminum and glass with cOrrosiOn resistant fasteners. Adequate light, in compliance with Code will be provided,
b Garage Entrance- Cars and trucks will be lowered to the Garage and Loading Docks area at the Sub-Cellar 2 via two enclosed car elevators.
(ii) Gates: There will be no gates related to the service entrance.
CO Exterior Stairs: There will be no exterior stairs.
(tv) There %vie be no railings at service entrance.
ROOF AND ROOF STRUCTURE (1) Roof types for all areas a Material: The roofing systems will be an iasti4414inverteil roof membrane assembly (IRMA) comprised of fluid applied waterproofing installed below board Insulation with pavers or gravel ballast over.
b. Insulation: There will be 45" of rigid Insulation or equivalent with a R value of 20 in compliance with the New York State Energy Code.
C. Surface Finish: Pavers or gravel
d. Guarantee SLCE A rc):itects Page 10 of SI The roofing system shall have a ten-year manufacturers guarantee.
e. clashing Material: There will be metal cap flashing and fabric base flashing.
(0 Drains: a. Location, material and type Cast iron drains will be provided at all roof areas, which will diScharge through internal leaders into the building storm drain system.
b. Gutters and Leaders No gutters and leaders will be provided.
(111) Skylights: a. No skylights will be provided
(0 Bulkheads a. Stairs 0,441 Stairs will be enclosed in concrete and concrete block walls with
aluminum panels.
b. Elevator The elevator bypass will be part of roof bulkhead; it will be enclosed in concrete and concrete block walls with aluminum panels.
c. Others; Mechanical equipment rooms will be part of roof bulkhead. Window Washing Equipment will be located at the bulkhead.
All rooftop mechanical equipment, that so requires, shall be mounted on vibration isolation comprised of neoprene and/ or springs as required to control vibration and structure-borne noise transmission to the apartments below. In addition, the structural slab separating the equipment will be at least 3.0•Inches thick normal weight concrete.
tvil Metal Work at Roof Levels a. Exterior Metal Stairs There will be oo exterior metal stairs to mechanical_ areas like thesar roof and others,
b. Vertical ladders Steel vertical ladders will be provided at roof levels within the mechanical bulkhead.
C. Railings Railings will be glass and metal
cl• Hatches to the roof There will be no.41o4c-he44o4he-ro0l0LILLatUstiath..11.1-22P-Mailliallabralit
$ I 9111•• „ ;a. • I • 1191. I • * L*11 1L • • - a • batch at the Staff Entonte to access roof for maintenance.
e. All exterior metals, Including fasteners shall be corrosion resistant S LC E Architects Page 11 of Si f. Alt metal dunnage will be provided with a primer and two coats of paint.gL gaimilet
I. FIRE ESCAPES_ There will be no fire escapes
YARDS AND COURTS Me Courtyard be located On the Sotbtilsolall side of the property at the First Floor with direct access from 56th Street. The Courtyard will be for private use of the residents of the building. The easternmost-section= of the Courtyard will be a landscaped Garden and will provide access to the different areas of the complex. The section of the Courtyard located south of the Tower will be a car drop off and open area that will provide main access to the Main Lobby. An open service area that allows access for the Garage and Loading Dock will be located on the westernmost section of the lot.
(I) Paying: Sections of the Courtyard and of the Garden will have pavers over a roofing system. There will be built-in planters.
(II) Drainage: Cast iron drains will be provided at the Courtyard and Garden areas and in the planters. they will discharge through internal leaders into the budding storm drain system.
(ill) Stairs: Steps or ramps will be provided to absorb the minor differences In elevation in the site
(iv) Railings: Stainless steel railing will be provided at all stairs, ramps and areas with different elevations.
(v) Fencing: No fencing will be provided.
(vi) New site wails will be provided adjacent to neighboring buildings
10. INTERIOR STAIRS (I) Number of stairs of each type. Mere are 2 (two) scissors exit stairs which extend from the roof bulkhead down to the 26' floor servicing all the residential floors. The scissors stairs separates into two independent gaits from floors 26111-21._ down to the ground level. The two independent stairs provide egress to the Health Club. the Office Units and the Retail Units. One of the stairs exits through the lobby, the other one through a passageway to the Garden and street. SLCE Architects Pagc 12 of SI The scissors stairs doors open directly into the private service corridor of apartments • •I • : • • I• i • •• 48" to 511SIS., 51th to 59th 6,41-.11.C, 62r4 to 2.1.1L.A.Ant.11...73'1 A and B, 771- to Aftillalliant8dIth. A aoct B, to Ji.wL 88" A and 91" to 9.S9Sit-• A. These doors will be locked from the stair side and will be equipped with an automatic fail-safe system that would allow the door to open in the event of activation of any automatic fire detection system or when any elevator recall is activated. Doors with hold openers at the end of the corridors will close at the same time limiting the access to the rest of the apartment. A telephone communication system connected to a constantly attended station will be provided.
There will be independent stairs for the Retail UnitsUitat at 3-4the Park Avenue Pavilion, The Retd I Units atA7th itcedalyianateasicelliglialmillakladllagAirs- There will be four stairs providing egress from the Cellar and Sub-Cellars.
(ii) Enclosure: All stairs will be enclosed in two hour rated construction, either Gypsum board partitions Or concrete block. All entrance doors to stairs will be 1 Y1 hour rated.
(III) Stair Construction: The main tower stairs and the cellar stairs will be steel construction,
(iv) Stringers: Steel
(v) Treads: Steel plate or concrete fill with photo luminescent signage where required
(vi) Risers: Painted steel
WI) Guardrails: Steel guardrails will be provided. Steel pipe handrails will be provided.
IL INTERIOR DOORS AND FRAMES (I) Unit entrance and interior doors and frames: The Residential Units entrances doors shall be solid core wood fireproof self closing doors and will meet all Building Code requirements including noise transmission requirements. The frames will be hollow metal. The Residential Units interior doors shall be solid core wood doors with wood frames,
(II) Corridor Doors and Frames: All corridor doors shall be wood fireproof self closing with hollow metal frames and will meet the Building Code requirements, except that corridor doors at Mechanical and Bulkhead floors will be fireproof self closing hollow metal doors and frames.
(III) Stair Doors and Frames: All stair doors and frames shall be wood fireproof self closing with hollow metal frames and will meet the Building Code requirements. SLCE Architects Page 13 of SI (iv) Roof Doors. Basement Doors and Frames: These doors and frames shall be hollow-metal and will meet the Budding Code requirement
12. ELEVATORS Number of Passenger and Service Elevators There shall be: a. Two (2) Passenger Elevators ( PE-1 and PE-2) Servicing lobby, the Club Unit floors, the Office Units floors and all the Residential Units floors up. the 84th floor. b. Two (2) Passenger Elevators (PE -3 and PE-4) Servicing lobby, the Club Unit floors, the Office Units floors and all the Residential Units floors up the 952fith floor. c. One (1) Service Elevator (SE-1) Servicing the Sub-Cellar 2, Sub- Cellar 1, Cellar, First Floor, Club Unit floors, Office Units floots, Residential Units Floors up to the 9S2.k floor and Mechanical Floors d One (1) Passenger/ Service Elevator (ASE41 Servicing-tho--C4ob--Uoit---flows-anti-Officery---Uoits--Pow67 Sub-Cellar 2, Sub-Cellar 1, Cellar, First Floor. 1e1-.1lowr, 14th flow-and 16th floorfloors ( Club) and Z844o-261,81h. 19th aDd 20th ( Office floors) e One (1) Car Elevator (CL-1) Servicing First Floor down to Sub-Cellar 2 f One (1) Truck Elevator (11.-1) Servicing First Floor down to Sub-Cellar 2 Et. One (1) Passenger /Service Elevator (RPE-1) Servicing the Park Avenue Pavilion. 00e4.1-)-PassengeHt-Service-Elevator4REA--1) Se•vicing-the-Retaik-Units-of--the-boildiog-01-6r4-Streeti h. i-.--One( 1) Service Elevator ( SE-2 ) Servicing the Service Entrance down to Sub•Cellar 2, Sub Cellar 1 and Cellar. One (1) Retail Elevator ( RSE-1) Servicing 57th Street Retail at Sub-Cellar 2, Cellar, First, second, Third and Fourth Floors.
01) Manufacturer and Capacity: Elevators will be--e4t4er-Feletec---6levalw-Compaoy/C-tKtomr-045_peyaief_ Company/Cyst-0ml Schindler Elevator Company/Customr---ThysseoKropp- 64eyaiw-C-ompaoy/C-ustoror-gooe-E-levater-Compa-Piy/C-41-stom7 or approved equal. (Ill) Elevator capacity: 1. Passenger PE-1 3,000 lbs. 2. Passenger PE-2 3,000 lbs 3. Passenger PE-3 3,000 lbs 4. Passenger PE-4 3,000 Ilas S. Service SE-1 3,500 lbs. 6. Club Elevator AS El 4,500 lbs. 7. Car Elevator CL-1 17,500 lbs. 8. Truck Elevator 11-1 60,000 lbs. SLCE A rchitects
Page 14 (451 9. Retail Elevator. Pi-1 330003,50(2 lb s. Bevatof 11. Service Elevator SE-2 3,000 lbs. 12. Retail Elevator RSE-1 8,000 lbs.
(Iv) Operation type: PE-1 & PE-2 and PE-3 & PE-4 DUPLEX ETA GROUP CONTROL
RPE-1, RSE-2, SE-1, ASE-1, CL-1, RSE-1 SIMPLEX SELECTIVE COLLECTIVE CONTROL
(v) Type of controls: PE-1, PE-2, PE-3, PE-4 and SE-1 Gearless Variable Voltage Variable Frequency (VVVF) control.
RPE-1, RSE-21-RSE-1 Geared Variable Voltage Variable Frequency (VVVF) control.
CL•1, Hydraulic AC drives
(v1) Floors Served See item 1
(vii) Elevators type: All elevators will be Gearless Traction Type except the car elevator-and, the truck elevator and SE-2 that will be direct acting hydraulic.
(vfII) Doors: PE-1/PE-.1 one speed center open doors SE-1 one speed center open doors (front & back) ASE-1 one speed center open door C1-1 and 11-1 vertical blparting door RPE4-4-21, and RSEa-2 one speed left side opening RSE-1 one speed center open doors
Location of Machine Room: PE-1 and PE-2 Ra04-balkneadia-E-1-and-PE-4 Mechankal Room at 89" Floor PE-3 ajtcl Rapt bulkhead SE-1 Roof bulkhead ASE-1 Mechanical Room at 2-v71g Floor C1.-1 and I1-1 Near lowest landing RPE-1, SE-2, RSE-?and RSE-1 Above elevators
13, ELEVATORS CASs (I) Kind: Residential and Commercial
(ii) Floor material: 1 SLCE Architects Page 15 ofsl. Stone or carpet at the Passenger Elevators. Rubber at Service and Retail Elevators
(Ili) Walls: Wood panels, stone, leather or metal at the Passenger Elevators. Metal Panels at the Service and Retail Elevators.
(iv) Ceiling: Wood and plaster at Passenger Elevators Metal Panels at the Service and Retail Elevators.
(v) Lighting: Recessed ceiling lighting
(v1) Alarm and Safety System Cabs will have emergency lighting. Fire Recall will be integrated with the building fire alarm system.
I. fitMLLIARYIACILITIES
1- LAUNDRY ROOM
(I) Location and number of rooms: There will be one Laundry Room located in the Sub- Cellar 2 to be used by the Residential Unit Owners.
(ii) Clothes washers, number and type: There wilt be two i2j_heavy duty coin operated clothes washers,
(ill) Clothes dryers, numbers and type! There will be trifeetwe (2) heavy duty, Coin operated gas dryers,
(Iv) Room ventilation: The laundry room will be mechanically exhausted and will be provided with air damaaim conditioning.
(v) Dryer ventilation', The dryers will be mechanically exhausted to the exterior.
1. REFUSE DISPOSAL (I) Incinerators: There will be no Incinerators-
(II) Compactors: Two Refuse Chutes will be located off the public corridor on the Service Elevator lobby on the Residential Floors, except that at Apart1ient—G-4Hr
floors • •-t I o • : •r* • •* • • •o• 48" to s9ent-opaniviefirr-A-at-44ocors53rd C, 54th to 59thrapartmerns A and 8-at- floorsc. 62d to 6rrfloofs-68"407 1st A ,and B. 73"a tondil. 77" to B„IsIA and SLCE Architects Page 16 of 6.1. 831c1 and 841thdt arid the OM, ,iparini•ent per-florg as-floo94.1141*-161 8. 86111 ant 88" &and 91" to 9S2it'A the chutes will be located within the Residential Unit The chutes will lead to a compactor located al the ae2114 floor.
(Hi) Approves: The compactor equipment ind Installation will be approved by all required authorities.
1P11 Initial Storage Location: Compacted bags will be stored at the refrigerated compactor room. The recyclable products will be stored at the recycling room located at Sub-Cellar
(V) Pick-up schedule The bags from residential compactor room win be brought by building personnel to the curb at SW' Street and picked up by the New York Oty Department of Sanitation.
J. ELLIMINNOPAilnitAINAGE
I. WATER SUPPLY; A 6-inch domestic water service with a double check valve backfiow preventer and water meter will be provided from the public water main to three (3) House Pumps each rated at 200 GPM one is locked. Domestic water will be supplied to the Cellar level from Sr Street. All main shut off valves are located on Cellar level. A backflow preventer will be provided at this location. Pumps will supply the 12 water tanks that will serve both Domestic Water Supply and Fire Reserve. The capacity of the tanks ranges between 11250 gallons and 15.000 gallons. The Building will be supplied by 12 tones of cold water, hot water and hot water circulation. Domestic hot water will be provided via steam fired domestic water heaters. Material of water pipes will be Type l. copper. All domestic hot and cold water pipes will be insulated throughout with 1- fiberglass insulation with Insulation jackets.
fatilebiflit..X11EMILL
Model Equfpment Designation Location Service Manufacturer No,
(3) Pumps, 200gpm ea, Peerless Water tanks fill 75hp ea, 90820ft head. irk pump P-I SC-2 Level 480v, a (3) Pumps, 200gpm ea. Peerless Water tanks flit )0hp ea, 75700ft head, In pump P-2 44? Floor 480v, 3p
2_ FIRE PROTECTION SYSTEMS (I) Two Fire Services: One 8-inch fire serVICe will enter the building from 56 and one 8-Inch fire service will enter the building from sr Street and will be provided with 8-lhCh double 1 SLC E Architects Page 17 of SJ. One 15 *rich combined sewer connected to greet municipal sewer at 57' Street, one 15 loch combined sewer and one lir sanitary connected to street municipal sewer at 56 Street
S PERMITS REQUIRED (1) Ail permits will be obtained by the plumbing contractor.
it STORNI Cr!%AiNAGE SYSTEM (i) Gravity storm drainage from Courtyard and Garden drains will be conveyed to 1,5100C11110 gallons storm water detention tank located on Cellar level and then to 1S• combined sewer connected to street municipal sewer on 56" Street. Gravity storm drainage from the Tower roof flow control drains will be conveyed to the 15- combined sewer on sr' Street.
(ii) Roof arid Terrace Flow Control Drains Root arid terrace drains will be located on the roof and terraces
00 PiPing: Cast iron piping with hub and spigot fittings and push-on joints.
(lv) Sump Pumps; Three duplex sump pumps are provided at the Sub Cellar-2 level to collect and dispose of groundwater as well as areas not able to be conveyed to the city sewers through gravity. All elevator pits are also provided with simplex oil minder sump pumps
(y) Storm water disposal.; The building storm water drainage system wiU be connected to the two 1.51. combined sewers main exiting at Sot- greet and 57r- street.
IfAnLYG
1. DOMESTIC WATER HEATING: Domestic hot water will be provided by steam fired storage type hot water heaters. The heaters will be located at the rd floor and bulkhead Mechanical Room. Each domestic water :one will be provided with duplex domestic water heaters. No instant hot water devices will be provided.
2. sPaa HEATING! Space heating will be provided by two steamtnot water shell and tube exchangers each located on the Sub-Cellar, 301' and 31st. floor mechanical room. Steam shall be provided by CoriEdison from East 46ir stiitiket5treet, One (1) meter will be provided. A PRV station will be provided to reduce the steam from high pressure to low pressure for all uses
Hot water will be provided to dwelling units through 4•Pipe Fan Coll Units. The electric cost associated with operating fan cod for heating will be payable by each owner to the Utility Company and does not constitute part of the common charges. The Perimeter Heating system is designed to meet the New York City and State Energy Code. Heating capacities of fan coil units shall be as shown on the schedule below. SIX E Architects
Pagc 19 Of SI The fan-coil units will be provided in various it as indicated on the plans. The total capacities in each of the various units are a% follows:
Total Cooling per apt II et ApartMents BTU 48,251019AlaQ 45;4501120 42 pet floor
4510000M' 4174002L1122 -3-11100tiLE82 40,25021.0 latagigi i7S-,u01 40%0000.24i -3Sr3gSfallIN 65,100 •61,400ELL5Z 2 per floor k.6102 0=1 411111— 14.121 afal 1152t1 12.2.121"51°•9St) 46,6002I/22 4,8,30022Z1 24e4 4)0.3 per floor -63-.400ara AZIS •657100=1.2 3045027,30Q ;3;10024,400 301000 35r386 120,400 125,900 1 per floor 12St40il ar . • 4-20,4001.0.040 4-2-WW.0-500 12 and 14 per floor Studio Units
Equipment toCatiOn and manufacturer schedule:
Location Service Manufacturer Model No. COMM uction Equipment Designation itdalsameuzu 1141 2 jj Recycl ne. re,enhecii h ; • • • 8•8 t;-.• I i : A Garags Exhaust Greenheck 0E1 EF•SC-1 Sub Cellar a Residential Recycling Greenheck BSO EF-SC-2 Sub Cellar a kiehaos414113, Electrical Room Greenheck ClE1 EF-SC-3 Sub Cellar a Ventilation Electrical Room Gteenhedc QEI EF•SC-4 Sub Cellar 2 v ntllation Fuel Oil Room Greenhedc BSQ EFSC-S Sub Cellar ME R Ventilation Greenheck BSQ EF-SC.6 Sub Cellar 2 Exhaust GSQ EF-SC-7 Sub Cellar 2 Elet-triGal-Roont- Greenbeck VentilavonittisSjatt
:MSS —1-104"911141f65-- Greenheck QEI Sr-Sc. 1 Sub Cellar 2 l Garage SuPPhe sr-sGaSob:QS/ly-aa 7.-1,kleat4014tecyailt, Greenback gsQ
SLCE Architects Page 20 an Greenheck QEI Sub Cellar Electrical Room SF-SC-3 V ntilation Greenheck QEI sF-SC-4 Sub Cellar 2 Electrical Room Ventilation Sub-rceUar--2 PAVIA.fenftlation-Supply Greenhe6k Qfii .Sub-Ce#ar-2 SC-80H-Retum Greenheek af-E-C-4 Greenheck QEP MI6 sxplz-SC-1 I Sub Cellar-2 SC Sinokkiaygl Exhaust 1 BM toilet Exhaust Green heck rgegar4li _ Stair Pressurization Greenheck LS2-SCC-1 Greenbeek QE1 Greenheck QEI
Greenheck Greenheck CIE I alDir Pressusizaticat gLitenlaggil tfeL I AFSWaVd IMMO- Smoke Exhaust Greenheck SX-2-1 CIE I 4"-f-loor-tobby- Greenheck c-nNIER_VeptiJati9ci
24400r-Retai4SI1iL Greenheck AFSW r Floor Lobuy Rum UAW, AFSW RF -2-3 %) Floor V' Floor Retail Greenheck 11Vr1il1atiOn Suogit Greenheck 1121 MER Vr.ntliattir Supply Jreenheck ilfil Ida.temitailon• Greenheck BSQ
blia-VcalaWn_ Gregolvcje, Vbault Greuntack
1041ER Ventilation Qtaillask fizgrxhack Ufgootof Ventihltion r.t.z112cs1
4* Toilet Exhaust Greenheck 85actEl RFL5A-4-1 4241Th Floor Club Unit- Lounge Greenhe-ck AFSW R turn SELL 1115121110 Cutrinheak 8 Min'Floor EL.11:1 g is Floor Greenheck
Greenhect;
SLCE Architects Page 21 of Si aub Unit- Exerose Club
Stair PressurizatiOn 111130thZ_ Floor MER Ventilation Supply Electrical Room Ventilation MER Ventilation Exhaust
Greenheck Dryer Exhaust 111311z1Float Todet Exhaust EleCtliCal Room Ventilation
Beallea] ROOM Ottiatien MER Ventilation Exhaust Trash Room Ventilation Greenneck kitchen Exhaust luor Mot MER Ventilation SuPPIV 3107r Hoot Electrical Room ventilation
SIC E Architects Page 22 of SI AF TX-4711-1 31147141 Floor Toilet Exhaust Trane aEI SP-4-713,- 111471r" Floor Stair Pressurization Green heck -2 31147r Floor Stair Pressurization Greenheck C1E1 BSO SF -6044- 1 411601m1 Floor MER Ventilation Supply Greenheck EF-60-14-1 /41601 Floor Electrical Room Green heck QE4112 VI ntilation EF404/-2 4jjGOr Floor MER Ventilation Greenheck BSQ Exhaust BSQ EF-6444•3 4:1160194 Floor Trash Room Ventilation Greenheck KX-604-1 4.11601" Floor Kitchen Exhaust Greenheck QE1 SF-4141-1 45 (61)" Floor MER Ventilation Supply Greenheck MCI SP•614.5-1 4516115T Floor Stair Pressurization Greenheck CiEl SP-6.14,i-2 43161157 Floor Stair Pressurization Greenheck QEI DU-61614 4516115T Floor Dryer Exhaust Greenheck BSQ nt-644-1 45.1611sr Floor Toilet Exhaust Trane AF EF §5A6111T Floor Electrical Room Greenheck &Wail Ventilation F-64AA-2 4l61,1 Floor MER Ventilation BSQ Exhaust SF-1741a-1 8,(74r Floor MER Ventilation Supply_ Greenheck BSO EF-7451-1 58. (74r Floor Electrical Room Greenheck ti1E-Ilaca Ventilation EF-74*2 51174r Floor MER Ventilation Gree-nheck BSQ Exhaust E 51)A741T4 Floor Trash Room Ventilation Greenheck BSQ 10C-7414-1 511.174)r" Floor Kitchen Exhaust Greenheck QEI SF--162-1 5.9A75r Floor MER Ventilation Supply Greenheck BSQ EF-7652• I 21751'14 Floor Electrical Room Greenheck gs Ventilation EF-4552-2 52175r Floor MER Ventilation Greenheck BSQ Exhaust DEX-7611-1 42,1751's Floor Dryer Exhaust Greenheck BSQ TX--451-1 aL751" Floor Toilet Exhaust Trane AF SF-892k-1 2LE1591" Floor MER Ventilation Supply Greenheck BSQ EF-8922-1 22189r Floor Electrical Room Greenheck 01E4=1 Ventilation EF-8922-2 22/89r11 Floor MER Ventilation Greenheck BSQ Exhaust EF-4921-3 Z21891Th Poor Trash Room Ventilation Greenheck BSQ 10C-8912-1 22.189r Floor Kitchen Exhaust Greenheck QE1 SF-902A-1 Z1(9017" Floor MER Ventilation Supply Greenheck BSQ SP-9041-1 23A901Th Floor Stair Pressurization Greenheck QEI SP-9021-2 apor floor Stair Pressurization Greenheck QEI DEK-9021-1 1.1190r Floor Dryer Exhaust Greenheck BSQ rx-goza- zal9or Floor Toilet Exhaust Trane EC
uporm Floor Electrical Room Greenheck SSODLI Ventilation EF-9021,2 21190r Floor MER Ventilation Greenheck EISQ 1 Exhaust SLCE A rchitects 900 197r Floor Electrical-Rai:ow Green hetk AF-SWagl VOL Eataiim EF-96110-21 96130 (971" Floor Electrical Room Greenheck AFSW Ventilation TS--96-3 -967"-F;oo MER-Ventilation-Suptaly Gfeeolle€44 1_ C414 AFSW sqL-96A11-12 96a0 19711" Floor Electrical Room Green heck Ventilation grata lidlirtilfiLlitatitilliWkWMII finals:It lont- SF-94a241 96,1)4921Th Floor Electrical Room Greenheck AFSW Ventilation SF -96/10--32. %BO f9r7r1 Floor ME-RglectricatROOrn Greenheck clE46151& Ventilation-Soppfy QEI EcSE-9711043 ta1971rs ROO( MER Ventilation Greenheck EichaustSuPlaV tr.:1141 2111:1 gliamgcsanYis. reenhecli JJAAPht 5F-81-2 81l28Vlalcat chillcodam %/mt. §10Pnhta kulaN Alas. ry_Ebna.,r biusgatatim. CM:galled Egli= ELS.1:2 al (981' Floo Miller Room Vent 2LegalltCk fta/111111
AHU AHU-SC-I Sub Cellar 2 SC MER Supply Trane M-Series AHU-2-1 23 Floor lg Floor lobby Supply Trane M -Series AHU,4-1 12r" Floor Club Unit- lounge Trane M-Series AHU-2411-1 141i 115)7' Floor Club Unit- Conference Trane M-Series AHU-24a-2 44,S 115P% Floor Club Unit Exercise Trane M-Series Club 421111117 Floor Amenity - Dining Trane M-Series
AHU-244-4 12g-i1-512' Floor AMen ty - Kitchen Trane M -Series P11111111111Jr.---4-8M444100Folfke Tian. M-Se•Fles ;tone lEr 14,Secies MIL A4U4-4AN1J-1134 lgthlgoof •26'"-Floot1011+ee AHU-2-31Q42 1610 118r- Floor Club Unit- SPA Trane M-Series mU-2,11(141 4610 (181' Poor Club Unit - Pool kaileDextron MI25-Series AHU4612-1 2712J2DIN Floor Elevator Mach Rm. Trane M-Serles 49th-fleet 491s, Pane' Aol-Sedes AHU--34Z-1 321,7 (31P' Condo OA supply Trane M-Series Floor AHLI-461Q-1 30 06r Floor Condo corridor supply Trane M-Series Alibi-1r -_ I ,31 1471!K Floor I 220/2SlidSlitall 4--- long filbinho AHu-4-741,a-1 44'45 (FM" Condo On supply Trane M-Series Floor AHu-6112-1 641011125)124. Condo OA supply Trane M-Series Fl )or Gliet10-0A-supittili Trane /44-Serles Condo OA supply Tone M-Series
SICE Architects Page 24 of 6,1 Trafte SCV41411410t 2" Floor 2" Floor Retail AC-2-1 Trane SONT-sSeittes AC 2" Floor Floor Retail AC-2-2 SOW-S*4W 41.° Floor 41" Floor Retail AC-4-1 Wane M.Series MER Ventilation HV M Kitchen Make-Up Trane HV-2-1a•1 al15r Floor MR-Ventilation TriMe 14V-264 2.64141oor 961)*-F1eet MtilleVentilat;00 Pane HV-96-1
Public areas, lobbies, health club, residential corridors and entrances will be NelyiNi by Air Handling Units with hot water healing coils, perimeter area will he tupplied with VAV boxes and reheat coils or fin tube radiators or electric baseboards.
The Residential Restaurant at the 12th floor shall be heated via Air Handling equipment with steam coils. The steam shall be sub metered separately from the lost ot ttle building. Public stair bulkhead and other miscellaneous common areas requirins heat dui in the winter season are heated with electric resistant type heaters or lin tube radiatots
Garage Unit will be provided with heat via reheat coils for heat loss due to trairanission through the wall and garage entrance,
2. PiPING, INSULATION Schedule 40 steel and/or copper tubing with standard weig,ht fittings will be used. HOt water, chilled water and steam piping is insulated
Ductwork to be provided with Insulation as required the insulation shall be glass ribel with 0.75 pcf (12 kg/crn2) with FSK face, F5K-faced fibrous glass duct wrap insulation having a k-value of .28 Btualn/(hoft2acF).
Operation and Maintenance manual shall be provided to the condominium management including operating personnel training as required on 1.petificirtiorm
Air and water balancing report shall be provided at the completion of the construction
GAS SUPPLY
1. TYPE: tow pressure gas service will enter the building at SG street. The Kin will vtipliN apartment cooking ranges, fireplaces, and Residential Restaurant kitchen cooking.
2 METERS:
SLCE Architects Pogo 2,5i One meter located on the cellar floor will be provided tor resrclentcv.Ne,kIng fireplaces. The commercial kitchen, located on the 12° floor. will beDrO1.ed 'ih separate meter located on the cellar
3. PIPING MATERIALS: Black steel Schedule 40 pipe with malleable fittings.
M. _NB cgalPITICIN I NG
TYPE OF SYSTEM: Four (4) Pipe Fan Coil. The Fan Coil Units shall be manaactured • Intemativviai Environmental (or equal) 110 volts, 1 Ph, 6014z, as follOws: a. Vertical Closet Units shall be 141:1-14NAPONAI-Motiellet b. Horizontal Hideaway Ceiling Units shall be liNTERUAIIONA4-Mooehntemationai mead HPY
2. COOLING PLANT SYSTEM: (i) Apartment low rise and Amenity spaces (level Sub Cellar— Sin rvotittit slintrot consists of:
Two (2) one (1) cell (one as stand by), 1150 Ton open cooling tower located at the roof of the Park Avenue Pavilion. Tower shall be provided with plUTIV ALN4IC4110111 and ultra low noise fans. The Cooling Towel shall be manufactured by Marley (or equal) Cooling Tower is capable of handling complete building coohng loads under conditions of New York State Energy Code.
Two (2) (one as stand by), 1150 Ton centrifugal chillers located on the roof Of the Park Avenue Pavilion. The chillers shall be manufactured by York (or equal) the chillers are capable of handling complete building cooling loads under conditions ei New York State Energy Code
Four (4) vertical In line centrifugal pumps located at 4'11 floor Retail ktER provided; two (2) Primary Chilled one (1) standby each at 1970 GPM. two (21 Condenser Water one (1) Standby each at 2300 GPM,
Two (2) (one as stand by) plate and frame heat exchange( for secondary chilled water located at the 32w° floor, and related two (2) (one as stand by) WI tical in In Centrifugal pumps located at the 31" floor MER• Plate and frame heat exchanger main use for system pressure break.
CoolIng plant system is based on peak -bulk coohne load for the residential areas of the Building in accordance with ASHRAE Guide recommendations
1 (II) Apartment hi rise f levels 60-4/11 cooling system consists of:
Iwo (2) one (1) cell (one as stand by). 145014Qg Ton open cooling tower located at 1 the Kr:Kusag floor roof. Tower shall he standard type. The Cooling tower %hall be manufactured by Marley (or equal) Cooling Tower IS capable of tumult% complete building cooling loads under conditions of NYS Energy Code 1 SLCE Architects Two (2) (one as stand by), -1-1-501.(20 Ton centrifugal thaws loca:ed on the 97'21Ih floor MER. The chillers shall be manufactured by Yt (or my* 'Ne chillers are capable of handling complete building cootirg loads %inlet OWNSICIDIRS 01 NYS Energy Code
Four (4) vertical in hne centrifugal pumps located at.,•••N-Z•Js ftior ktUt are grovide& two (2) Primary Chilled one (1) standby each at 49-7-01...1 GPM. two (2) Ci,lide-sn- Water one (1) Standby each at 23002AQ GPM.
Two (2) (one as stand by) plate and frame heat exchanger for weedier ciluStN2 water located at S.I325th floor, and related two (2) lone as staid bir! %kartiCal r teNt centrifugal pumps located at 5..724th floor MER. Platt arid fTarne •bw•at exesaillyr main use for system pressure break.
Cooling plant system is based on peak -bulk* cooling load for the resiClealld amb of the Building in accordance with ASHRAE Guide recornmeridabiOrts..
(III) Retail spaces cooling system consist oil
One (1) one (1) cell 400gia Ton open cooling tower located at the n) teNt Part Avenue Pavilion, tower shall be provided with plurne abatement and isiltra bois noise fans, The Cooling Tower shall be manufactured by Marley tor equal) Corak-g Tower is capable of handling complete building cooling icia& under oanditions NYS Energy Code.
• • • ••• • IL•••••• provided: two_(21Conclencter water tuns ere Mitl-ath
(iv) Individual units: Individual units are designed to meet all requirements of NY State Enemy Cc,de.
HVAC units will provide Air Conditioning for the mam entrance nievater machine rooms telephone r00111-c, etc with chilled water coil
Residential Units will be provided with four-pipe fan coil uncts ofca,..-mot*es shown on plans, Numbers of units of each type are shown on ntard, EIR rabnes meet requirements of The New York State Energy Code dated 20M ran Cod uni•ts sized for the calculated individual peak cooling requirements. Each fan cog unit wa be thermostatically controlled.
Cooling and heating of corridor ventilation air will be premyded bv (Med u•atv cooled air conditioning units with steam
N. nriEntigiON
1. RES1DENTiAt. KITCHENS Residential kitchens will be ventilated with a geneigal-ipntrat k.tilte_extiauNt weetitation system rated by manufacturer as exhausting ISO cubic feet of air minute from ir4klei SLC E Architects kitchen. Kitchens wtth-rangeltalate hoods shalt-be--c-oripected--io-a-selloaf,ate-lewrivet- system-rated by manufacturer as exhausting 100%21 cubic feet of air per minute from each kitchen.
2. RESIDENTIAL RESTAURANT KITCHEN: The Residential Restaurant Kitchen will be ventilated with an exhaust ventilation system. leith electric precipitator.
3. RESIDENTIAL BATHROOMS: Residential bathrooms will be ventilated with an exhaust ventilation system exhausting 100 cubic feet of air per minute from master bathrooms and SO cubic feet of air per minute from secondary bathrooms and powder rooms.
4. NON-RESIDENTIAL BATHROOMS: Interior non-residential bathrooms located at First Floor, Cellar and Sub-Cellar will be ventilated with an exhaust ventilation system rated-be-the-manolocturef as exhausting SO2ft cubic feet of air per minute for each water doseuLialikt
S. LOCKER ROOMS: Locker rooms will be ventilated with exhaust ventilation capable oi exhausting 7415 cubic feet of air per minute per cooresqua re foot minimum.
6. PUBLIC CORRIDORS1 Interior corridors are provided with heating and air-conditioned supply air at 0.5 cubic feet of air per square foot. This Is in accordance with code requirements.
RESIDENTIAL UNITS LAUNDRY: individual washer/dryers are provided in Residential Units. Dryers will be exhausted to a common exhaust riser. The dryer capacity is approximately 200C-FM cubic feet or =Mae-
8. CENTRAL LAUNDRY ROOM. Individual commercial quality washer/dryers are provided to serve a central laundry for the use of Residential Unit owners located in the building sub-cellar level. The dryers will be ventilated with an exhaust ventilation system exhausting 600 cubic feet of air per minute.
9, TRASH ROOM: Trash rooms will be ventilated with an exhaust ventilation system rated-be-marieforrita-fer- at 4r008la cubic feet of air per minute per room.
10. GAS METER ROOM: Gas meter room will be vented to the outside
It. RESIDENTIAL FRESH / MAKE-UP AIR: The amount of makeup air per Residential Unit shall be wxgQ% of the total amount of air being exhausted per Residential Unit. Make us air will be distributed to all habitable 101 ••• U. o• el I • l• • • I11 • 4i , atlx_vaalelmstra.
12. ACOUSTICAL CRITERIA: Apartment. NC-35 SLCE Architects 1 Page 28 of $1 • Distribution Switch t12-8, Distribution Panelboard HP-8. • Distribution Switch 112-8, Distribution Panelboard HP-10. • Distribution Switch #2-8, Distribution Panelboard HP-13. • Distribution Switch a2•8, Distribution Panelboard HOP-SC2-1.
(iii) (2) Two Residential Unit distribution centers are provided for each 12 floors of residential occupancy.
(r4 Residential Unit distribution centers located on mechanical floors throughout the tower will provide electronically sub metered, single phase, 208 volt feeders to the individual apartments. where single apartments occupy an entire floor, these apartments shall be provided with 3 phase, 208 Volt power. Residential Unit feeders and electrical panel boards will vary in size based on unit square footage, load and length of feeder to compensate for voltage drop). The National Electrical Code (2008) with New York City Amendments will be used to size the electrical equipment and feeders and will take into account all normal Residential Unit loads as well as specific appliances provided in the Residential Unit such as washing machines, clothes dryers. dishwashers, microwaves, etc.
a. It is expected that the various Residential Unit panel boards will range in capacity from 100 Amp to 200 Amp at 120/208 Volt single phase, 60 Hz power. larger Residential Units will be provided with 120/208 Volt 3 phase, 4 wire 200 Amp service.
Main Circuit A2i Calculated Demand Load Panel Capacity in Breaker Size in a of Apartments Amperes Iva per Apartment Amperes
42 per floor 211:11 laula Mips @ 208 volt 202 iso2all alit 1 Ph 200 .0.7.401121B-20-Y2ILM_ 32 per floor zrat 4114171 Amos 0 208 Volt MI 1602211 ZLC lab 200 MD Ag Amps @ 208 Volt 1 Ph 2 per floor ZIA unka Amps @ 208 Volt 200 200 ) : 1 Ph ter float 3,Lei 122.11m21.22anallit 21211 Ur 11111111252 3.616 Lautnja_a_zatlysauxi all 212 L 1 iii • Ite;, t 1 • a 2D1/ Mg 3 DOt float aitil 1,62 Ansns p 208 Volt 1 Pit 242 Mt AB& 111ACHLSR-208att-1-th ! i : • r.:•1. I.; , I : 1 2erta_____ LILA 1 per floor lit 144155 Amps @ 208 Volt 200 ISO= 3 Ph 12ballidagn.legl Studio 1 Afrin 0 208 Volt 'Ph lag 1 bum LUGS ()NIX
b. Switched ceiling outlets for lighting fixtures will be provided in bathrooms. foyers, large closets and kitchens. Three way switches will be provided in certain interior apartment corridors. Fixtures will be incandescent or fluorescent type In foyers, baths and kitchens.
SLC E Architects Page 30 of Si c. Switched receptacles will be provided in rooms other than those mentioned in 'be' above to accommodate portable lamps and other types of plug-in lighting.
d. Convenience Outletsoiglas will be provided per section 210, Part III of the 2008 NEC with New York City Amendments. Ground fault receptacles will be provided in all bathrooms, kitchens, and Residential Unit terrace. All outlets, other than those that are GM! protected, shall be connected to arc fault circuit breakers. Appliance receptacles will be provided in kitchens, dining rooms and other rooms where appliance locations have been identified.
e. Tamper proof switches will be provided in child-play-aceasMideallalltl
f• Water resistant receptacles will be provided for all exterior uses.
(vi) Club Unit will also be electronically sub-metered. Electric charges for Club Unit will be evenlygmitortaasti billed to the residents on a monthly basis.
P. IfSEPHQNInaiNTILCOM A NO_SE.CURIEtSMEMS Telephone services will enter the Building from East SW Street and be fed to a telephone service entrance room located in the Cellar level. It will then be distributed throughout the Building through risers and sleeves. Each Residential Unit will receive telephone service to a closet within the unit.
The Building is to be provided with an intercom system linking the service entry areas with the concierges desk_
Closed circuit television cameras will monitor selected entrances with viewing monitors at the concierge's desk, The cameras will be designed to cover the immediate area within view of the cameras and will not necessarily cover all of the area involved.
Wiring will be installed in each Residential Unit to enable the Unit Owner to obtain telephone and cable television service at the Unit Owner's expense. In each Residential Unit outlets for cable Iv and telephone will be provided in the living room, bedroom and kitchen.
The Building will not be equipped with a master television antenna system.
EVILKAREAla11011.6
SLCE Architects Page 31 of SI Lighting will be ftimished to the public awn of the Building through fluorescent and/or incandescent tilktute% TYpical light limures will be manufacturers comparable to ughtoiler.trt llaitco Or Lucifer
R. CIAFACIE
tc.X.'APON Of GARAGE Garage will be located at Sub,Cellat 2 It will be 4/tC(t't*d vta a car elevator. A truck elevator for the Loading Dock will double a s.a back-up garage elevator for emergencies and vice versa, The Loading Dock and the Garage will the share maneuvering area next to the elevators.
2. NUMBER OF SPACES The Garage Unit is presently zoned for accessory Parking for 4ibAZ Passenger vehicles, 292 of which are allocated to the residential occupants of the building and the other 17 spaces will be for the employees of the commercial spaces. Two of the pationg spaces will be provided with the clearance required for vans for people with disabilities, these spaces will be designated with the international symbols of accessibility signs prominently posted.
3. SURFACES The floor will be concrete with the required waterproofing protection. No striping or special parking signage will be provided because this will be a valet attended parking- it signs will be provided in compliance with NYC Building Code.
4. PAMONG The garage will be valet attended. The valet shall take control of and later return the vehicles at the First Floor drop off area. This area will comply with all requirements for people with disabilities.
S. GARAGE VENTILATION The garage will be mechanically ventilated to the exterior.
6. GARAGE FIRE PROTECTION A dry sprinkler system will be provided.
7. DRAINAGE Floor drains will be provided Car washing areas will not be provided,
S. SWIMMING POOL No swimming pools will be provided as part of the Residential Condominium. There will be an interior swimming pool at the Health Club atjhe 16th floor. The approximate dimensions of the pool will be 75•4" long by 12%0P wide with a water depth of The pool will be constructed in stainless steel with ceramic tile interior finish, The pool mechanical system will use a commercial sand filter and a 5 HP pump rated at 130GPM at 65 TDI-1. A heat exchanger will be used to heat the pool with the heat source provided by the building mechanical system,
MINIS COURILAAYG WAIN Mand_RECREAllatirrACILIT1ES_ SIC E Architects 1 Page 32 of 51 1. TEportS COURTS No tennis courts will be provided.
PtAYCIRCONDS No playgrounds will be provided.
oTHER RKREAroivi• FACILITIES a_ Residential Dining Room and Terrace A residential Dining Room and Terrace for the exclusive use of the residents of the building will be located at the 12'1' floor. The restaurant will have a maximum capacity for 74 people_and will be able to be divided into private dining rooms. The restaurant kitchen will provide room service to the apartments.
a- HealthThe residents Club of the building will have access to the facilities of a club located at floors ;12. 14u1 and -16'442. It will be a Spa Fitness Center facility. The Fitness Center will be fitted with cardio vascular and resistance machines. There will be a Pool, Sauna, Steam Room and massage Room and locker rooms with toilets and showers for men and women.
The Fitness Center will be part of the Club Unit and the costs and expenses to operate and maintain the facility will be billed to the Club Unit Owner.
& RAGE a. Resident's Storage Closet There will be 13 Residents Storage Closets located at Sub-Cellar 2 and 45 Residents Storage Closets at the Sub Cellar 1. The Resident StorageSlzeli will be licensed to the budding Residents pursuant to licenses being offered by Sponsor. The costs and expenses to operate and maintain the Facility will be paid directly by the licensees
a. Wine Cellars There will be Trii31 Wine Cellars located at Sub-Cellar 1 in a single room serviced by twat= (n) HVAC units tenelyLo (121 on-line and one (1) stand-by) that will set both temperature and humidity and are controlled by one (1) thermostat. The Wine Cellars will be built out by a to-be determined independent company engaged by Sponsor. The temperature range for the room containing the Wine Cellars shall be determined by the Residential Board in consultation with such company. The Residential Board shall have the authority to modify such temperature ranges in Its sole discretion. The current design for the climate of the room in which the Wine Cellars are located is S2-57 degrees Fahrenheit with a relative humidity of sixty percent (60%) to seventy percent (70%). AU wine and other beverages stored in a Wine Cellar shall be at the licensee's sole risk. Neither Sponsor. the Condominium Board, the Residential Board, the Architect nor the Managing Agents shall be liable for any spoilage caused by the failure of the HVAC or any other causes whatsoever.
b- 134cvcie Storage
SLCE .4rchitects Page 33 of 61 There will be a room at the Sub-Cellar containing space to store 8-1a bicycles In compliance with NYC Zoning Resolutions, 7.4D, of which are allocated to the residential occupants of the building and the other 7 spaces will be for the employees of the commercial spaces. The bicycle storage will be free of charge for the building residents,—usage with ukagg rights to-be-as-I3410c-atedas_clescribed in the Offering Plan.
U. EERMITSARDSERIELRCAIE5 The Sponsor will obtain all required permits and approvals from the New York City Department of Buildings, the Fire Department, the Department of Transportation, the Elevators Division, the Boiler Division, the Department of Environmental Protection and any other applicable Agency. As of this date the following permits have been obtained: Permit # 120E28776-0140 issued on 09/16/2011 by NYC Department of Buildings for New Building- Foundation / Earthwork Permit #120628776-01 NM issued on 05/14/12 by NYC DOB.
Drawings will be filed with the Buildings Department to represent the current changes in the stacking of the building and alterations to the layouts of the apartments.
VIOLATIONS See open violation list attached as Exhibit A
W. UNIT INFORMATION
1. RESIDENTIAL UNIT INFORMATION There will be 144121 Residential Units
a. RESIDENPAL UNITS, wi TH TYPE AND NUMBER OF ROOMS
FLOOR UNIT TYPE DESCRIPTION
28"' & 29th A 0 BEDROOM Uving/ Dining Room/ Sleeping Area, 1 Bathroom, Kitchenette
28' & 29th B 0 BEDROOM Uving/ Dining Room/ Sleeping Area 1 Bathroom, Kitchenette
281' & 29th C 0 BEDROOM Living/ Dining Room/ Sleeping Area, 1 Bathroom, Kitchenette
28'111 & 29th D 0 BEDROOM Living/ Dining Room/ Sleeping Area, 1 Bathroom. Kitchenette
SLCE Architects
Page 34 of Si 28" & 29th 0 BEDROOM Living/ Dining Room/ Sleeping Area, 1 Bathroom, Kitchenette
28'1' & 29th F 0 BEDROOM Living/ Dining Room/ Sleeping Area, 1 Bathroom, Kitchenette
28" & 29th G 0 BEDROOM Living/ Dining Room/ Sleeping Area, 1 Bathroom, Kitchenette
28"' & 29th H 0 BEDROOM Living/ Dining RoomiSieeping Area, 1 Bathroom, Kitchenette
28" & 29th 1 0 BEDROOM Living/ Dining Room/ Sleeping Area, 1 Bathroom, Kitchenette
28" & 29th K 0 BEDROOM Living/ Dining Room/ Steeping Area, 1 Bathroom, Kitchenette
28' I. 0 BEDROOM Living/ Dining Room/ Sleeping Area, 1 Bathroom, Kitchenette
29th 1. 0 BEDROOM Living/ Dining Room/ Sleeping Area, 1 Bathroom, Kitchenette
28 M 2 BEDROOMS Living Room/ Dining Room, 2 Bedrooms, SUPER•INTENDENTS 2 Bathrooms, Kitchen, W/D Closet, Foyer. APT
29th M 0 BEDROOM living/ Dining Room/ Sleeping Area, 1 Bathroom, Kitchenette
29th N 0 BEDROOM Living/ Dining Room/ Sleeping Area 1 Bathroom, Kitchenette
29th P 0 BEDROOM living/ Dining Room/ Sleeping Area. 1 Bathroom, Kitchenette
34thr36.12.12thraer A 2a BEDROOMS Living Room/ Dining Room, 21„ibram 401*7-42";-44;11 3 Bedrooms, -2g Bathrooms, Powder Room, Kitchen, W/O-G1ocA4Launtimaowa, Foyer.
litithraeragthrtso*r 21 BEDROOMS Living Room/ Dining Room, 2 4-2"44 to 37th 1 Bedrooms, ----2g Bathrooms, Powder Room, Kitchen,. W/044esellunkaloom, Foyer.
S LC E Architects Page 35 of Si Living Room/ Dining Room, 2Librarv.. 343fith to4SaisLISth CA a Bedrooms, —24 Bathrooms, Powder Room, Kitchen, 1 •WM-Closibt Laundry Room, Foyer.
living Room/ Dining Room, aileath 10-4-saagu9pb 4-8othPoom 2 usir owns. 2 Bathrooms, Powder Room, Kitchen, W/D Closet, Foyer,
4831th to-S34 1 And nth
4F4Qth to 634
3-4BEDROOMS Living Room/ Dining Room, 3 Bedrooms, 4 Bathrooms, Powder Boom Kitchen, W/D Closet, Foyer,
A.1 BEDROOMS living Room/Dining Room, atibrarv, Bedrooms,--3 1Bathrooms, Powder Room, Kitchen, W/D4;losetbiwitimasum, Foyer.
AA 3 BEDROOMS Living Room/Dining Room, 3 Bedrooms, —34 Bathrooms, S LC E Architects Page 36 of 51 II Room 1 Kitchen, lAttioset1Sta Foyer. Tr to flit. 8A 4A BEDROOMS Living Room/Dining Room, 4 3 Bedroom5.-6 aBathrooms. 4-Plowaer- §3rd and 84th ROOP Kitchen. Laufidelper. tivmg RoomrlOin1 ng Room. 6 86,Zr to 88115.1. •-•. Bedrooms, --F-arn4y-Reomr7-1_ 63rd an S4th Bathrooms, 42 Powder Roon4112,1= Kitchen, Laundry Room, Foyer —9-141--to-45,24tn,86th and Living Room, Dining Room. &Jimmy.. atc Fam ilv Room.. Bedrooms;---61biapt, 7 Bathrooms. 21 Powder Room. Kitchen..
taund-,, Room. Fove-• AP 21st to 96th Roonsininre'ROorn„ Librarv. fi Reslroorns 7 Bathroom' PfiWel0 Room- Kitchen
lagagaittagglanibal.
For the purposes of Marketing. the floor number thirteen and other floors have been excluded, while Construction necessitates a realistic numbering of floors that includes all numbers. Therefore, two different methods of numbering floors exist, and are shown below:
Construction Floors Marketing (Actual)
1 1 2 2 3 3 4 4 5 6 12 7 14 8 15 9 16 10 18 11 19 12 20 13 2-711 14 28 15 _29 16 30 17 31 18 34 19 - 35 20 36 21 37 SIX E Architects Page 37 i) f Si 75 92 76 93 77 94 78 95 79 96 80 97 81 98 82 99 83 100 84 101 1
Please note that all floor plans, apartment drawings, and other references to floors in this report will utilize the marketing numbenng of floors.
FINISH SCHEDULE FOR TYPICAL APARTMENTS CEILING BASE WALL SPACE FLOOR GWB Painted" GWB Painted Foyer Wood Floor • WD GWB Painted • " GWB Painted Living Room Wood Floor • WD GWB Painted" GWB Painted Dining Room Wood Floor • WD GM Painted" GWB Painted Bedrooms Wood Floor • WD GWB Painted" GWB Painted Kitchen Wood Floor 'or Stone" Stone or Ceramic GWB Painted Stone or Bathrooms Tile or Paint" Ceramic Tile" Stone or Ceramic Tile WD GWB_Painted "6 GWB Painted Closets Wood Floor' GWB Painted*" GWB Painted Washer/dryer closet CT
'Standing water will cause cupping. swelling, and subsequent gapping. Relative humidity should be between 35% and 65% to avoid excessive shrinkage, Cracking, swelling or cupping.
'The wood floor 1 • • • • - a • • two layers of 3/V-i)lywooti-at-ati-AesideAtiat-Uoits-extept-at44;e-apaitments-e0-floois4e'-a0c1-34r-that-will-be- pfevided—with—etifred—down—eogineered—weed—flooft. The Sponsor reserves the right to make substitutions to wood floor selection.
•• maintenance and cleaning of all stone by Residential Unit Owners should be done in accordance with the recommendations of the Marble Institute of America
••• Wails will receive a prime and two finished coats of paint
C. BATHROOM FIXTURES
Subject to Sponsor's right to make substitutions as set forth in the Offering Plan, the Residential Units will be equipped with the following fixtures:
SLCE Architects Page 39 of 61 ApARTIME NTS; 2.461-1ZA j4131 37B 2ALVAB 40C / 44C 48a/ 53C sitc / 52C DIA] 71A St 73A DM/ 71A & 73B
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TARA 75 943 Sic.! TARA 35 944 11 JAR II 35 910
I Tor, 21m12,2 11••• / .4 1••;;C'Z' a Ot.k28 508 TARA 76 403 RI TARA 35 OBO
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APARIMENT5' 111111_12Lt 34B/ 37B / 39A 40C / 44C 48C / 53C 54C / S9C 64A/ 71A & 7311 cligaaran ra/81Ei MUM lilLUMAASA 224L2gh
SLCE Architects Page 40 of 61 APARTMENTS
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OW ER ULQ _1103,6.1f11 TARA 28 523 9-t MAN tl SHOWER DORNBRACHT TARA 26 4 aa, TARA 35 080
StioWeli pORNIBACIII ZONTRou litiaL36 416 91
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A4 APARTMENTS SECONDARY BATHR00141 faiLL21.211nial2 wpm iu 2TH 40PCIRS ANQ
OURAViTtalail HAPPY—DSAN_Baliblfik0;014/000 WC
LAVATORY VI LIEROY-&-BOCH 64474444 DORN BRACHT TARA 36 717 esz arhp474ny90 LAV. FAUCETS
CAPRI 114,VAS•404,10-345 TUB HOESCH
Latiggatiga 2362f1-401122 TAR4 214 4Srlit2
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attO)VER DORNIIII6C14I CONTROU
VARTMENTS POWDER ROOM gxrEPT IlintANQ andSZald AWL 4sa 5_3a rAi slA 8L1,4A C-AROACOUA C73•1,8F 0-166.D9 WC DORAV412.1c2 CONCEAL Et GERBERIT
• • LAVATORY CUSTOM 33-s0c162-6-06 LAV FAUCETS DORNBRACHT 1 1 ARA..a2;i1BAI
1-1Rpoms AT ._•=0.2,-8-Palld22112
pW, FAUCETS =MAIO /ARA 36 717 taz makzictural
BATH TUB MERU& CAMBRIDGE011
SHOWER 4rAD HAND_ sligwER Zfitigugal 1oa2,6 403 S9Z TARA Wit 450 662. AFIA 3S Ng Aill9Q i : 4 ; • utrauumat. ibutimalut TARA 35 517 970 tloct gslistRots TARA 36 416 797
SLCE Architects Page 43 of SI KrtastN APPLAKIS sublect to Sponsor' tet to ?woe substatotiofis as tet forth in the °tiering PiAfl, the Itositientoat Units Itnli tquapped *etti thetoRovArti Appliances,
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MANUFACTURER DESCRIPTION UN4TAPARTMEt4J
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SLCE Architects Palm 45 of SI lyE-- litifb•sigagt W4O4OOc WAsstAtoseFER W3033-49800 T804-3C-01 W1034344.4# Ro(460251,11.r.1.1.1 SI NI( FRANKE REGAITAMUS111 cutUALI, 22AILL-12-1-1. culuse_te.. me N3 aM DIME tillarmanteimp FRANU
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DMENSIONIQUIAMin5 The approximate area of each Residential Unit and of each Office will consist of the area measured horizontally from the exterior side of the exterior wall (columns. mechanical. pipes. shafts. shaftways, chases, chaseways and conduits are not deducted From measurement of each Unit) to the centerline of the partitions or concrete walls separating one Unit from another Unit or separating one Unit from the corridor, stairs, elevators and other mechanical equipment spaces or any Common Elements not within a Unit Otto the exterior side of the opposite exterior wall_ Each Unit consists of the area measured vertically from the top of the floor (located under the finished flooring and sub•flooring materials) to the underside of the cei-iffiftcorigAte >lab aye.
SIX E Architects Page 46 of Si Each Storage Closet and Wine Cellar will consist of the area measured honzontally from the innermost face of the foundation wall to the centerline of the partitions separating one unit from another unit or one unit from the common elements. Columns, mechanical pipes and shafts are not deducted for the purpose of floor area measurements
Each Storage Closet and each Wine Cellar will consist of a volume measured vertically from the top of the concrete floor to the underside of the storage enclosure except that any common elements located within any unit shall be considered as part of that unit. The interior room dimensions shown on the Floor Plans for the bedrooms, living rooms, dining rooms, kitchens and other rooms of the Residential Units as well as the Offices and the rooms of the Health Club as shown in Exhibit 7 in Part II of the Plan are only approximate and are measured horizontally from the interior face of the sheetrock on the wail on one side of the room to the interior side face of the sheetrock on the opposite wall or to the interior face of glass. Space occupied by finishes and window surround • • • • • • • • not taken Into consideration in such stated dimensions and will reduce the usable square footage of such rooms- The Interior room dimensions shown on the Floor Plans for the bathrooms of the Residential Units as shown in Exhibit 7 in Part Ii of the Plan are only approximate and are measured horizontally from the interior bathroom-side face of the sheetrock on the wall on one side of the bathroom to the interior bathroom-side face of the sheetrock on the opposite wail. Space occupied by the fixtures and finishes Installed on the bathroom walls and floors is not taken into consideration in such stated dimensions and will reduce the usable square footage of such rooms-
The dimensions shown on the Floor Plans for the closets In the Residential Units as shown in Exhibit 7 in Part II of the Plan are only approximate and are measured horizontally from the interior closet-side face of the sheetrock on the wall on one side of the closet to the Interior closet-side face of the sheetrock on the opposite wall (or closet door, as the case may be). Such dimensions may vary based on actual construction conditions as the precise layout of each closet is anticipated to be modified during the construction process to accommodate the placement of mechanical equipment and structural elements within the walls adjacent to the closets. No such variation shall give rise to any right of rescission, reduction In price or other credit or concession to Purchasers.
All dimensions are approximate and subject to normal construction variances and tolerances. DiMetISIOrIS are maximum overall within a room or space. subtracting
CutOULS. The Sponsor reserves the right to make changes due to unforeseen conditions, In accordance with the Offering Plan. Except in certain areas with dropped ceilings and soffits, the finished floor-to-ceiling heights of the residential levels are approximately 12-0'
Finished floor to ceiling heights at bathrooms, kitchens, halls and public corridors at the Residential Units floors are approximately 10'-0-
SLCE A rchitects GWB Painted WO GWB Painted • GWB Painted WD GWB Painted • " GWB Painted Ceramic Tile GWB Painted ••• GWB Painted WD GWB Painted' •
• • • Wails will receive a prime and two finished coats of paint
1).5, BATHROOM FIXTURES FOR TYPICAL OFFICES
Subject to Sponsor's right to make substitutions as set forth in the Offering Plan, the Office Units will be equipped with the following fixtures:
ABB ftENAPLO NSIDILEINESHES AT ACOUSTICAL TILE CMU CONCRETE MASONRY UNIT CT CERAMIC TILE CPT CARPET CONC CONCRETE DP DUSTPROOFING AND HARDENER DE DECK ENAMEL GT GRANITE TILE GWB GYPSUM WALLBOARD HC HUNG CEILING K KADEX L LIMESTONE LWP LIQUID WATERPROOFING MT MARBLE TILE PAP METAL PAN P PAINT POR PORCELIN QT QUARRY TILE SP SPRAY PAINT ST STUCCO T TILE TCP TEXTURED CEILING PAINT TER TERRAZO V VINYL vcr VINYL COMPOSITION TILE
SLCE Architects Page 49 of $.1. VWC VINYL WALL COVERING GWB GYPSUM WALL BOARD WRWB WATER RESISTANT GYPSUM WO WOOD
SAILJY_MIP_WARRING DEVICE3 ARE ALARM AND SMOKE DETECTING DEVICES
L Fire Alarm: The building will be provided with a fire standpipe, sprinkler, smoke detection, and telephone and signaling systems. These systems will comply with the requirements of New York City Building Code.
2 Apartment Smoke and Carbon Monoxide: Each apartment is provided with a hard-wired localkkonex+de—Detec-tfoci carbon monoxide detection System: smoke and carbon monoxide detection device located in the vicinity of the bedrooms as per NYC Building Code. The detector will be wired to a 120-volt local power supply and will be self-contained with its own sounding device.
3. Firehne Telephone System: The building will be provided with a MEA approved voice communication system. System will meet the requirements of NYC Building Code, (Technical Policy and Procedure Notice N3/03)
Gloria B. Glas,
Sign before me this day of 201
NOTARY PUBLIC
S LC E Architects Pap SO of $I Exhibit K-3
[Updated Certification of Sponsor's Architect on next page]
1 I -I • . I I-w -, _I _I 1--.- _
4 SLCEArchitects, LLP
CERTIFICATION OF SPONSOR'S ARCHITECT PURSUANT TO SECTION 20.41(e) OF THE REGULATIONS ISSUED PURSUANT TO GENERAL BUSINESS LAW, ARTICLE 23-A, AS AMENDI:D
June 16, 2013
New York State Department of Law 120 Broadway New York, New York 10271 Attn: Real Estate Finance Bureau
Re: 432. PARK CONDOMINIUM Iptdearel 432 Park Avenue New York New York 100 6 is Yolk, 'yr t3cut 14,0440 ttiteAffee t•VV-1117 eirkt The undersigned, a licensed architect in the State of New York. hereby certifies as ova aveaniam 430.i“aarl• son follows:
Ply Yo ISA The sponsor of the condominium offering plan for the captioned property (the aBoi Donodimet_ Ft Ram ALI -Pr)penv") retained our firm to prepare a report describing the construction of the —J LAndiumalact..A1.4 Property (the -Report"). We have examined the building plans and specifications. am-a. S ALE g•-•• dri4 dated as of 10/25/11, that were prepared by SLCE, Architects LLP and were approved by the New York City Department of Buildings on May 09, 2012, which :osambamoi Now Clonhio, AL4 building plans and specifications were amended by an amendment approved by the EJ11111 DeltiLlitA New York City Department of Buildings on June 27, 2012. Further. We have prepared the Report, dated as of June 19, 2012, a copy of which is intended to be incorporated into the offering plan so that prospective Purchasers may rely on the Report. We understand that we arc responsible for complying wiih Article 23-A of the General Business Law and the regulations promulgated by the Department of Law in Part 20 insofar as they are applicable to this Report. We have read the entire Report and investigated the facts set forth in the Report and the facts underlying it with due diligence in order to form a basis for this certification. This certification is made for the benefit of all persons to whom this offer is made.
We certify that the Report: scts forth in narrative form the description and/or physical condition of the entire Property as it will exist upon completion of the construction, provided the construction is in accordance with the plans andSf)CeillCaliOlIS that we examined;
in our professional opinion affords potential investors, purchast.Ts and Participants an adequate basis upon which to found their judgment concerning the description and/or physical condition of the Property as it will exist upon completion of the constmction, provided that the construction is in accordance with the plans and specifications that we examined:
(iii) does not omit any material fact:
(iv) does not contain any untrue statement of a material fact;
(v) does not contain any fraud, deception, concealment, or suppression:
(vi) does not contain any promise or representation as to the future which is beyond reasonable expectation or unwarranted by existing circumstances:
(vii) does not contain any representation or statement which is false, where we: (a) knew the truth; (b) with reasonable effort could have known the truth; (c) made no reasonable effort to ascertain the truth; or (d) did not have knowledge concerning the representation or statement made. We further certify that we are not owned or controlled by and have no beneficial interest in the sponsor and that our compensation for preparing this Report is not contingent on the conversion of the Property to a condominium or on the profitability or price of the offering. This statement is not intended as a guarantee or warranty of the physical condition of the Property.
SLCE ARCHITECTS, LLP
By-. Name: loria 13. Glas _ r 1 Title: Partner
§yom to befo me this rj!day of 20 13
SHERRY LYNN EV Noisy Pubic, Stale ct Not York No. 0186113413 Qualified in New York CCOMISSiOn EgAres JulyCaule Notary Public Exhibit
[Revised form of Purchase Agreement on next page' RCIIASE AGREEMENT
Purchnscr(s)
with
56th and Park (NY) Owner, JAC,
Sponsor/Seller
Unit Number 432 Park Condominium 432 Park Avenue New York. New York 10022 PtIttt II %NE •MA41.'1 N1F.744 1 1 NI I NO.
432 Park -unduminium 412 Park As enue Ness York. \est Vials 10022
(to he executed in quintuphcatel
P1:1WHASIf. MAU-I-MUNI (this "Aggstiagei, made as of the _ day of 20_, bemeen 56th and Park (NY) Owner, I IC. a Delaware limited liability company. having an oftice at 515 Nladison Avenue. .1 111Nom New York, New York 10022 (hereinafter. iponsor, and
having an atkirms at (hereinafter. "Enistasex").
WITNESSET11: 1. Defiratinns. Tenns used in this Agreement and not othcrwisc defined herein shall hase the meanings Al forth in the Offering Plan for the 432 Park Condominium (such plmt, together with any iunendments thereto filed prior to the date hereof. is hereinafter referred to its the The unit. Sponsor hereby agrees to sell to Purchaser and Purchaser hereby agrees to acquire from Sponsor condominium Unit No (the "Vni.1") at the Condominium (as designated in the Declaration) (also being known and designated as flock 1292, Lot on the fax Map Of the City of New York), together with the undivided % interest in the Common Elements appurtenant to such Unit, upon and subject to the terms and conditions set forth herein. The land upon which the Condominium is located is as described on &,1KlialsA annexed hereto. 3.Purchosic Pricy. 3.1 The purchase price for the Unit (the -Purchase_ raw") is S payable 13 follows: (a) S (the 1nni1Ill)cms.11"). due upon the signing and submitting of this Agreement, receipt of which (sub)cci to collection) is hereby acknowkdged,
03) title -Additionitativilic; she term 'Veliolt", as used befell's. refer; to both the Initial 1)eposit And, if the sante has been paid at the time in question. the Additional Deposit). duc upon thc earlia to occur of: (i) (the date which is four (4) mornh i1Icr the date al this Agreement); or (ii) fifteen (15) days after Sponmot serves Purchaser with written notice of an amendment declaring the Plan effective, hut in 110 event later than thc
2 closing of title. subject to collection: provided. hOWeVeL that if this Agre•ement is entered into after the Plan has been declared effective. Sponsor reserves the right to require both the Initial Deposit and the Additional Deposit due and payable upon execution of this A0.'011011.; and (c) S (the "Bahmee"\ constituting the hakmce of the Purchase Price, at the closing as hereinafter provided. 3.2 All checks shall represent United States curreno be drawn on or issued by a New York bank which is a member of the New York Clearing I louse Association and shall be unendomd. Checks certified for check(s)the Deposit or an shall official be Purchaser's bank cheats). good made cheek(s) payable or. atto Sponsoroption. thePurchaser's direct order of "Kramer Levin Naftalis & Frankel UP. as esen)w agent". The check or checks for the Balance and all other sums due Sponsor pursuant to this Agreement shall be good certified check of Purchaser or official bank or cashier's check, made payable to the direct order of "56th and Park (NY) Owner, ILC" (or such other party as Sponsor directs to Purchaser, in writing, prior to the date of closing of title). If any cheek is returned. dishonored or fails collection for insufficient funds or for any other reason. the Escrow Agent is authorized to deliver such check to Sponsor and Sponsor will have the choice of remedies set forth in the Plan and in this Agreement with respect to an Event of Default (which shall include suing on such dishonored check or (at Sponsor's option) canceling this Agreement and returning the instrument to Purchaser without affording Purchaser a grace period to cure such default).
4. Deposit 4.1 Prior to or concurrent with execution hereof and payment by Purchaser of the Initial Deposit, Purchaser. Sponsor and Escrow Agent will enter into the "Escrow Rider" annexed to this Agreement, The Escrow Rider must be executed by Sponsor. Purchaser. and Escrow Agent. 4,2 The provisions of paragraphs 3-6 of the l'scrow Rider annexed hereto are incorporated herein by reference. 4.3 Sponsor is required by law to submit a Form 1090 to the Internal Revenue Service reporting any interest earned on the Deposit. if any. Purchaser will be taxed accordingly on such interest, whether or not Purchaser ultimately receives the interest in accordance with the terms of this Article or Ankle 8.
Closnt Date Pia 5.1 The closing Of litIC shall be held at the offices of Sponsor (or such other place in the City and State of New York as Sponsor may designate to Purchaser) and on such date and how as Sponsor may designate to PtirellaSCr on not less than thirty (30) days' prior notice. Sponsor may. from time to time, adjourn such date and hour upon reasonable prior notice to Purehawr, which notice shall fix a new dale (and hour and place, if appropriate) for thc closing of title (but in no event may Sponsor adjourn the date origimilly set for a closing, once set for more than twelve months in the aggregate without the consent of Purchaser).
; 5.2 Whenever used herein, the terms "Closing Date" or "closing of title" or words of similar import shall mean the date on which the deed to the Unit is delivered to Purchaser.
6. Delivery of Deed and Power of Attorney, 6.1 At the closing of title, Sponsor shall deliver to Purchaser a bargain and sale deed with covenant against grantor's acts conveying fee simple title to the Unit to Purchaser. subject only to thc liens, encumbrances and title conditions set forth on Schedule B annexed hereto and made a part hereof. Sponsor shall prepare the deed, which shall be substantially in the form set forth in Exhibit 4 (in connection with thc purchase of a Residential Unit) or Exhibit 5 (in connection with the purchase of an Office Unit) in Part II of the Plan, and Sponsor and Purchaser shall execute the deed and have the same acknowledged, in form for recording.
6.2 Al the closing of title. Purchaser shall execute and acknowledge a [wooer of attorney to: (a) the Condominium Board. Residential Board and Sponsor in connection with the purchase of a Residential Unit, or (b) the Condominium Board. Commercial Board and Sponsor in connection with the purchase of an Office Unit, prepared by Sponsor and substantially in the forms set forth as Exhibit 2 and Exhibit 3 in Part II of ihe Plan, respectively.
6.3 The executed deed and power of attorney shall be delivered to the representative of the title company insuring Purchaser's title tor if no such representative is present, then to Sponsor's attorney) for recording in the City Register's Office, which recording shall be at Purchaser's expense. Alter being recorded: (i) the deed shall be returned to Purchaser; and (ii) the power of attorney in favor of the Boards and Sponsor shall be returned to the Residential Board (in connection with the purchase of a Residential Unit) or thc Condominium Board (in connection with the purchase of an (Moe Unit) (or as such Boards shall direct). 6.4 Purchaser's payment of the Balance and acceptance of the deed to the Unit shall constitute Purchaser's recognition that Sponsor has fully and satisfactorily performed those obligations stated in the Plan and/or this Agreement to be performed by Sponsor prior to closing. However. nothing herein contained shall excuse Sponsor from performing thosc obligations (if any) expressly stated herein or in the Plan to be performed subsequent to the closing, and nothing herein shall be in derogation of the rights of purchasers under Article 23-A of the General Business Law, the Plan or Part 20 of the Regulations issued by the Department of Law.
7. State of Title. 7,1 The title conveyed by Sponsor to Purchaser shall be subject only to the liens, encumbrances and title conditions set forth in Schedule lj annexed hereto and made a part hereof. Any lien, encumbrance or condition to which title is not to be subject shall not be an objection to title it (a) the instrument required to remove it of record is delivered at or prior to the closing of title to the proper party or to FitSt American Title Insurance Company of New York. 633 Third Avenue, New York, New York 10017: Ann: Matthew C. Cahill: (212.) 850- 0646 (or such other title or abstract company designated b> Sponsor: the "Title Company"). together with the recording or filing fee: or (b) Purchaser's title insurance compan) will insure
4 Purthaser. at the comNny's regular rates and vvithout additional premium. that it will not he collected out of or entorced against. the Unit; or (c) Pun:howl's title kb-unmet comport) is unwilling to issue the affirmative insurance described in subsection (b) at tts regular rates 3nd without additional premiumt and the Title Company would be willing to do so at its reeulor rates and without additional premium kas evidenced by the issuance of the sime b) the Title Company in connection with the closing of any other Units in the Condominiumt.
7_2 Sponsor shall be entitled to adjourn the closing to remove or correct an), defect in title which is not set forth in Schedule B. Howe% cr. if such defect existed at least ten (IQ) days prior to the closing and Purchaser. or Purchaser's attorney, failed to send Sporwes attorney written notice of such defect in title at least ten 4101 days prior to the closing. then, for purposes Of Article 12 below. Purchaser shall be deemed at fault for not having sent time!) notice, and the closine adjournment to allow Sponsor to correct or remove such title defect shall be considered as having been requested by Purchaser.
7.3 The covenants in the deed will be solely for the personal benefit of Purchaser and will not inure to the benefit of Purchasers successors or subrogees. In the esent of a claimed breach of any covenant of the grantor contained in the deed. Purchaser must first seek recovery against Purchaser's title insurance company before proceeding against Sponsor. it being agreed that the liability of Sponsor will be limited to any loss or damage not covered by such title. insurance_ In the event that Purchaser elects not to purchase title insurance, then the liability of Sponsor shall be limited to any loss or damage which would not have been covered by the title insurance that was available to Purchaser at the closing. The terms of any marked-up title binder of any title insurance company authorized to do business in New York State issued in connection with any Unit shall be conclusive evidence of the title insurance coverage that was available to Purchaser_ the provisions of this Section 7_3 shall survive the closing of title or the termination of this Agreement.
8. Closing Adjustments. 8.1 The following costs with respect to the Unit sledl be apportioned between Sponsor and Purchaser as of the Closing Date: (a) real estate ta.xes and assessments. if any (including water charges and sewer rents, if separately assessed), on the basis of the period for which assessed; (b) Common Charges for the month in which title closes: and (e) if Purchaser is allowed to occupy the Unit prior to the closing. accrued rent and any other charges pursuant to an interim lease or occupancy or other agreement. if any. covering the Unit. 8.2 if the Unit has been separately assessed but the closing of title occurs before the tax rate is fixed, adjustment of taxes shall be based upon the latest tax rate applied to the most recent applicable assessed valuation. Installments for tax assessments due after the delivery of the deed, if any, shall he paid by Purchaser; however, the installment for the then current period shall be apportioned appropriately. If Unit has not been separately wsessed as of the Closing Date for the then current tax period; the adjustment under subsection S.I (a) hcreof shall be based upon the Property's actual taxes and assessment for such period prorated to the Unit in the manner set forth in Section 6.15 of the Residential By-Laws (in connection with the purchase of a Residential Unit) or Section 6.15 of the Commercial By-Laws (in connection with the purchase of an Office Unit) and in Part 1 of the Plan.
8.3 Sponsor shall remit or cause to be remitted to Purchaser an amount equal to interest, if any, earned on the Deposit, on or promptly after the Closing Date.
8.4 In the event that Purchaser fails to close title to the Unit on the date originally scheduled for the closing of title, postpones the closing for any reason, or is deemed at fault for not timely sending notice of a title defect as provided in Article 7 above, and title thereafter closes, then: (al the closing apportionments shall be made as of the originally scheduled closing date regardless of when the actual closing of title occurs; and
(s) Purchaser shall pay Sponsor interest at the rate of 0.05% per day (or such lower rate per day which is the legal limit, if 0.05% per day exceeds the legal limit) on the total purchase price, computed from the original Closing Date until this transaction is actually closed. If, through no fault, of Purchaser. Sponsor postpones the originally scheduled Closing Date, the foregoing provisions shall apply to the rescheduled Closing Date if Purchaser fails for any reason to close title to the Unit on the rescheduled Closing Date. 8.5 Adjustments and apportionments shall be calculated on the basis of the actual number of days in the period for which payments were made or are due, as the case may be. .1-he -Customs in Respect to Title Closings" recommended by The Real Estate Board of New York. Inc., as amended to date, shall apply to the adjustments and other matters therein mentioned, except as aforesaid and as otherwise provided herein or in the Plan.
8.6 Any errors or omissions in calculating apportionments at closing shall be corrected, and payment shall be made to the proper party, promptly after discovery. This provision shall survive the closing. 9. Closing Costs. Purchaser shall be required to pay certain costs in connection with the purchase of the Unit, in addition to any net credit in favor of Sponsor that may result from the closing adjustments and any interest or late closing charge described in Article 8. Other than any such net credit in favor of Sponsor that may result from the closing adjustments (or certain other fees which may be payable prior to the closing, as described below), all such closing costs shall be paid by Purchaser, at closing, by Purchaser's unendorsed, personal certified check or by official bank check, in either event drawn only upon a bank that is a member of the New York Clearing House Association. Such closing costs will include the following. the amounts of which (where appitcable) are based on rates in effect on the date hereof and are subject to change without prior 11011CC;
6 9.1 If Purchaser elects to obtain fee title insurance, Purchaser will pay a premium to the title company for such insurance, which will vary depending upon the amount of insurance purchased. 9,2 Purchaser will pay a fee to the City Register for recording the deed and the power of attorney of approximately $37.00 for each instrument plus $5.00 for each page (including the cover page), plus either a $125.00 tiling fee for the RP-5217 form if Purchaser is purchasing a Residential Unit, or a $250.00 filing fee for the RP-5217 form if Purchaser is purchasing an Office Unit. In addition. Purchaser's title insurance company may charge various fees and service charges in connection with such recordings and filings, all of which shall be payable by Purchaser. 9.3 If Purchaser obtains a mortgage loan. Purchaser shall pay all closing costs associated with such loan, which may include, but need not be limited to„ the following: (a) a fee and service charge for recording the mortgage at the same rates given above for recording the deed and power of attorney; (b) a mortgage recording tax in the amount provided for by law, which on the date hereof for a Residential Unit is 2.05% of the principal amount of the mortgage for mortgages of less than $500,000 and 2.175% of the principal amount of the mortgage for mortgages equal to or greater than $500,000, and for an Office Unit is 2.05% with respect to mortgages of less than S500,000 and ISO% with respect to mortgages in the amount of $500,000 or more (further. mortgage lenders require commercial borrowers to pay the additional tax levied in the amount of 0•259/0 on all mortgages affecting commercial condominium Units). and in each case, the amount payable to Sponsor under subparagraph (c) below is deducted: (c) to Sponsor. a sum equal to the full amount (but not in excess thereof) of the partial mortgage recording tax credit provided by Section 339-ee(2) of the New York Condominium Act. to the extent the same is or becomes available, as a reimbursement for the mortgage recording taxes previously paid (such credit is based, in general, on the Common Interest of the Units being purchased multiplied by a portion of the mortgage tax previously paid on accotmtof pre-existing mortgages on the Property); (d) the premium for mortgage title insurance, if required by Purchaser's lender; (e) deposits for Common Charges real estate taxes, any assessments. water charges and sewer rents (if separately assessed). if required by Purchaser's lender; and (f) such other costs and expenses in connection with such loan as determined by Purchaser's lender. 9.4 Purchaser will be responsible for payment of the following fees to Kramer Levin Naftalis & Frankel 1-I.P. Sponsor's counsel, in connection with the closing of title to such Purchaser's Univ. (i) the sum of $3,000 to reimburse Sponsor for a portion of its legal fees incurred in connection with the closing of title to each Unit purchased hereunder, and for each issuance of. a Storage License or Wine Cellar License. the sum of $500 to reimburse Sponsor for
7 a portion Of its legal fees in connection with processing the issuance of such Storage License or wine Cellar License: (ii) if the Purchaser requests the closing to occur other than at the offices of Sponsors counsel (or such other place as Sponsor may desienate in its closing notice) and Sponsor consents to such change (in its sole discretion). an attendance fee of $500 (closings may not be scheduled to occur outside Manhattan); (iii) if the closing is adjourned through no fault of Sponsor, an additional fee of 5300 for each such adjournment to help defray the cost of preparing for and coordinating the new closing: (iv) if Sponsor, in its sole discretion, consents to a Purchaser's request for an assignment of the Agreement, or for the addition. deletion or substitution of names on the Agreement. a fee of SI.500, payable in advance, for preparation of an assignment agreement: (v) $250 for the preparation of ACRIS transfer documents required by the City of New York; (vi) if Purchaser obtains mortgage financing, an additional fee of $700 to Sponsor's Closing Counsel to defray the additional costs associated therewith, Purchaser may be required to pay more than one fee pursuant to the preceding provisions of this paragraph with respect to a single Unit; and (vii) Purchaser shall pay Sponsor's counsel the sum of $600 in connection with the consideration. review and processing of any agreement of exchange or the like which Sponsor is requested to execute in connection with any tax deferred exchange tmder §1031 of the Internal Revenue Code. Other additional charges may apply. At Sponsor's option (in its sole discretion), any one or more of the foregoing fees to be paid to Sponsor's counsel shall be paid by Purchaser prior to closing upon notice to Purchaser. 0.5 Purchaser (in the case of a Residential Unit) shall make a contribution to the Working Capital Fund of the Condominium, payable to the Residential Board, in an amount equal to two (2) months' Common Charges then in effect for each Residential Unit pursuant to the Condominium budget and in accordance with Schedule A in the Plan, as the same may be amended from time to time. 9.6 Purchaser shall pay to either the Residential Board or the Commercial Board the Residential Common Charges or Commercial Common Charges, as the case may be, for the Unit for the first full month following the month in which title closes. In addition, if Purchaser is a foreign government, a resident representative of a foreign government or such other person or entity otherwise entitled to the immunities from suit enjoyed by a foreign government (ix_ diplomatic or sovereign immunity) shall pay to the Residential Board or Commercial Board an amount equal to the Residential Common Charges or Commercial Common Charges, as the case may be, for such Unit for a period of two (2) years as security for the faithful observance by such Unit Owner of the terms, provisions and conditions of the Residential By-Laws or Commercial By-Laws. as the case may be. In the event that Purchaser defaults in respect of the terms, provisions and conditions of the Residential By-Laws or Commercial By-Laws. the Residential Board or Commercial Board, as the ease may be. may use, apply, or retain the whole or any part of the security so paid in advance to the extent required for the payment of any Residential Common Charges or Commercial Common Charges. as the case may be, or any other sum as to which Purchaser is in default; and such Unit Owner shall, within thirty (30) days alter notice from the Residential Board or Commercial Board, deposit with such Board the amount so applied or retained so that at the option of such Board, the Board shall have the full amount Of said security on hand at all tunes. The provisions of' the preceding sentence shall survive the closing a title.
8 9,7 Purchaser shall pay the Real Estate Transfer Tax due to the State of New York (the so-called "deed stamps" and. if applicable, the so-called "mansion tax"), the Real Propeny Transfer Tax due to the City of New York and any other real property transfer tax due to the City or State of New York. Purchaser agrees to indemnify and hold Sponsor harmless from and against any and all liabilities and expenses (including, without limitation, rcasonable legal fees and disbursements) incurred by Sponsor by reason of the non-payment by Purchaser of any of the taxes Purchaser is obligated to pay hereunder in connection with the purchase of the Unit. Purchaser's obligations to pay the taxes described in this Section 9.7 and to indemnify Spcinsor as herein provided shall survive the closing of title or the termination of this Agreement.
9.8 In connection with the purchase of a Residential Unit. Purchaser will he required to pay to the Residential Board: (i) Purchaser's share of the purchase price of the Resident Manager's Unit determined in proportion to Purchaser's respective Common Interest in accodance with Schedule A in the Plan: (iii Purchaser's share of the purchase price of the Club Unit determined in proportion to Purchaser's respective Common Interest in accordance with Schedule A, in the Plan; and (iii) if applicable, an assessment for the Initial Private Residential Dining Period. 10. Transfer Tax Returns. At the closing, Purchaser shall duly complete and sign before a notary public the real property transfer tax return required to be tiled with The City of New York ("RPT Form") and Purchaser shall duly complete and sign the Combined Real Estate Transfer Tax Return ;Ind Credit Line Mortgage Certificate eCombined Tax ILomi") required to be tiled with the Department of Taxation and Finance of the State of New York (the 111:Eix Department"), or such other forms as may then be required by law. The Rig Form and Combined Tax Form shall be delivered at closing to the representative of Purchaser's title insurance company (or, if none, to SNnsor's attorney) for filing with the proper governmental officer. Sponsor will similarly execute all of such forms and other documents required in connection with recording of the deed including, without limitation. smoke detector and multiple-dwelling affidavits.
U. .rheLPlan. 11.1 Purchaser acknowledges having received and read a copy of the Plan. including all amendments thereto. if any. filed prior to the date hereof with the Department of Law of the State of New York. at least three (3) business days before submitting this Agreement. If. however. Purchaser did not receive a copy of the Plan at least three (3) business days before submitting this Agreement. Purchaser may rescind this Agreement, by sending written notice of same to Sponsor by certified or registered mail, return receipt requested. or by personal delivery. in either ease within seven (7) days of Purchaser's submission of this Agreement. 11.2 The Plan is incorporated herein by reference and made a part hereof with the same forte and effect as if set forth herein at length. In the event of any inconsistency between the provisions of this Agreement and the Plan, the Plan shall govern, except with respect to express modifications to the terms of the Plan included in this Agreement and agreed to by Sponsor and Purehiser, in which case such inoditications will govern.
9
Instead of retaining the Deposit (or such portion thereof that Sponsor may be entitled to as set forth below in this paragraph (b)), SpOnSOr may elect to bring an action against the Purchaser for specific performance. in which event the Purchaser could be compelled to complete the purchase of the Unit. Upon the cancellation of this Agreement. Purchaser and Sponsor will be released and discharged of all further liability and obligations hereunder and under the Plan, and the Unit may be sold to another as though this Agreement had never been made. and without accounting to Purchaser for any of the proceeds of such sale. Notwithstanding anything to the contrary contained hemin. if this Agreement is not exempt under Section 1702 of the Interstate Land Sales Full Disclosure Act. 15 §§ 1701. et, seq.. and it' Purchaser loses rights and interest in the Unit as a result of a default or breach of this Agreement which occurs after Purchaser has paid fifteen percent (1543/0) of the Purchase Price of the Unit, excluding any interest owed under this Agreement, Sponsor (or Sponsor's successor) shall refund to Purchaser any amount which remains after subtracting (A) fifteen percent (15%) of the Purchase Price, excluding any interest owed under and disposed of in accordance with this Agreement, or the amount of damages incurred by Sponsor (or Sponsor's successor) as a result of such breach. whichever is greater, from (B) the amount paid by Purchaser with respect to the Purchase Price of the Unit, excluding any interest paid under this Agreement (which interest shall be disposed of as set forth in this ARreement). te) Sponsor and Purchaser each hereby agree and acknowledge that it would be impractical andJor extremely difficult to fix or establish the actual damage sustained by Sponsor as a result of a default by a Purchaser hereunder, and that the Deposit (including all interest) shall constitute and be deemed to be the reasonable and agreed upon liquidated damages of Sponsor in respect of the possible loss of a timely closing, the possible fluctuation of values. additional carrying costs of the Unit and other expenses that may be incurred, including, without limitation, attorneys* fees, and shall he paid by Purchaser to Sponsor. The payment of the deposit (including all interest) as liquidated damages is not intended to be a forfeiture or penalty, but is intended to constitute liquidated damages to Sponsor. kd) NEITHER SELLER NOR PURCHASER SHALL CHALLENGE THE VALIDITY OF THE PROVISIONS OF THIS AGREEMENT OR THE PLAN WITH RESPECT TO LIQUIDATED DAMAGES OR ANY RIGHT OF SPONSOR SET FORTH HEREIN OR THEREIN TO RETAIN 'ME DEPOSIT IN THE EVENT OF A PURCHASER DEFAULT. SUCH PROVISIONS HAVE BEEN AGREED TO VOLUNTARILY, AFTER NEGOTIATION. wiTHour DURESS OR COERCION BY ANY PARTY UPON ANY OTHER PARTY, AND WITH EACH PARTY HAVING BEEN (OR HAVING HAD FULL AND ADEQUATE OPPORTUNITY TO BE) REPRESENTED AND ADVISED BY COUNSEL ACCOUNTANTS, BROKERS, APPRAISERS AND OTHER EXPERTS AND ADVISORS OF ITS OWN CHOOSING. 13. ,r&s_.•_sem Lici g. No lien or encumbrance shall arise against the Property or the Unit as a result of this AgleeMellt or any money deposited hereunder, except as hereinafter set forth. In furtherance and not in limitation of the provisions of the preceding sentence. Purchaser agrees that the provisions of this Agreement are and shall continue to be subject and subordinate to ihe lien of any mortgage heretofore or hereafter made and any payments or expenses already made or incurred or which hereafter may he made or incurred, pursuant to the terms thereof, or incidental thereto. or to protect the security thereof. to the fullest
I 1 included ill the sale of the Unit pursuant to this Agreement. No portion of the Purchase Price shall be attributable to such items.
17. Construction. 17.1 1-he construction of the Building and the Unit. including the materials, equipment and fixtures to be installed therein, shall be substantially in accordance with the Plan and the Plans and Specifications (as defined in the Plan), subject to the right of Sponsor to amend the Plan and the Plans and Specifications in order to substitute materials. equipment or fixtures of equal or better quality, provided that the approval of any governmental itithorities having jurisdiction is first obtained if required). The issuance of a temporary or permanent Certificate of Occupancy for the Building shall be deemed presumptive evidence that the Building and the Unit have been fully completed in accordance with the Man and the Plans and Speeilications. However, nothing herein contained shall excuse Sponsor from its obligation to correct any defects in construction in accordance with the conditions set forth the Section entitled "Rights and Obligations of Sponsor" in Part I of the Plan. 17.2 The construction of the Building and the Unit and the correction of any defects in the constmction thereof to the extent required under the Plan are the sole responsibility of Sponsor. Purchaser acknowledges and agrees that Sponsor will not be liable for, and will have no obligation to correct, certain variations from the Plan and Plans and Specifications as indicated in the Section entitled -Rights and Obligations of Sponsor" in Part 1 of the Plan and will only be responsible to correct any construction defects to the extent. and on the terms and conditions, set forth in such Section. 17.3 The closing of title shall occur only infer. or concurrently with, compliance with the prerequisites set forth under "Prerequisites to Closing of Title" in Part 1 of the Plan. As a result, if all other prerequisites not involving the construction of the Unit are met. Purchaser shall be obligated to close and complete payment of the full Purchase Price (without any credit against or abatement in the Purchase Price and without any provision for escrow) once a temporary or permanent Certificate of Occupancy is issued for the Unit (notwithstanding any construction items noted on Purchaser's Inspection Report (as hereinafter defined) remaining for Sponsor to complete and/or correct in accordance with its obligations under the Plan, and notwithstanding the incomplete construction andior decoration of any other portions of the Building not preventing Purchaser's occupancy of the Unity 17.4 Sponsor has projected that, based upon currently anticipated schedules, construction/renovation of the Building will be sufficiently completed to permit closings of Units to begin in or about July. 1015. The actual date for the First Closing is only an estimate and is not guaranteed or warranted, and may be earlier or later depending on the progress of construction and compliance with the other prerequisites described in the Plan. Purchaser acknowledges that COnStrUCtiOn may be delayed by weather. casualty, labor difficulties (including work stoppages and strikes), late delivery or inability to obtain on a timely basis or otherwise materials or equipment, governmental restrictions, or other events beyond Sponsor's reasonable COMO'. Purchaser further acknowledges that the Units in the Building will be completed at varying times over a period that could extend well beyond the First (losing, lite order in Nviiich the Units will be completed is in the discretion of Sponsor. Purchaser
13 acknowledges that except as otherwise expressly provided in the Plan, Purchaser shall not be excused from paying the full Purchase Price, without credit or set-off, and shall have no claim against Sponsor for damages or losses, in the event that the First Closing occurs substantially earlier or later than the projected date or the time to complete or to close title to the Unit is accelerated, delayed or is postponed by Sponsor. Purchaser's rights as set forth in Plan in respect thereof being in lieu of any other rights or remedies which may be available pursuant to any applicable law, regulation, statute or otherwise, all of are hereby expressly waived by Purchaser.
18. Inspsction of Unit. At least one (1) week prior to the Closing Date. at Sponsor's direction, Selling Agent shall notify Purchaser that the Unit is ready for inspection. Upon receipt of the notice. Purchaser shall promptly arrange an appointment with Selling Agent to inspect the Unit within the week prior to the Closing Date. Purchaser or his or her duly authorized agent shall attend such inspection, shall carefully inspect the Unit, and shall complete, date and sign the Inspection Statement (in the form set fonh as Schedule C to this Agreement.) and deliver same to Selling Agent at the conclusion of the inspection. Failure of Purchaser either to arrange such appointment or to inspect the Unit within the week prior to the Closing Date or to so sign and deliver the completed Inspection Statement shall not excuse Purchaser from paying the Balance whcn due and shall constitute Purchaser's full acceptance of the Unit. Sponsor reserves the right to limit the number of individuals who may accompany Purchaser in its inspection of the Unit. However, nothing herein shall relieve Sponsor of its obligations as set forth in "Rights and Obligations of Sponsor" in the Plan. 19. Damage to the Unit. If between the date of this Agreement and the closing of title, the Unit is damaged by tire or other casualty, the following shall apply:
19.1 The risk of loss to the Unit by tire or other casualty, until the earlier of closing of title or possession of the Unit by Purchaser, is assumed by Sponsor, provided that Sponsor Shall have no obligation or liability to repair Or restore the Unit. In the event of damage or destruction of the Unit due to fire or other casualty prior to the closing of tide and the election by Sponsor to repair or restore the Unit, this Agreement shall continue in full force and effect. Purchaser shall not have the right to reject title or receive a credit against, or abatement in, the Purchase Price and Sponsor shall be entitled to a reasonable period of time within which to complete the repair or restoration, Any proceeds received from insurance or in satisfaction of any claim or action in connection with such loss shall, subject to the rights of the Board and other Unit Owners if the Declaration has theretofore been recorded. belong entirely to Sponsor and if such proceeds are paid to Purchaser. Purchaser shall promptly upon receipt thereof turn them over to Sponsor. The provisions of the preceding sentence shall survive the closing of title or the termination of the Agreement. 192 In the event of damage to or destruction of the Unit by tire or other casualty prior to the closing of title and the election by Sponsor, with notice thereof to Purchaser. that it does not elect to repair or restore the Unit, or, if the Declaration has been recorded prior thereto, then if the Unit Owners do not resolve to make such repairs or restoration pursuant to the By-Laws, this Agreement shall be deemed cancelled and of no further force or effect and Sponsor shall return to Purchaser all sums deposited by Purchaser hereunder, together with In. west, if any. earned thereon, and neither party shall have any further rights, obligations or liabdity to or against the other and the parties shall be released and discharged from all
14 obligations and liability hereunder and under the Plan. except that if Purchaser is then in default hereunder (beyond the applicable grace period. if any), Sponsor shall retain all such sums deposited by Purchaser hereunder and any interest earned thereon. as and for liquidated damages.
Ngata,Lt-----entatims. Purchaser acknowledges that Purchaser has not relied upon any architect's plans. sales plans. selling brochures, advertisements. websites, representations. warranties, statements or estimates of any nature whatsoever, whether written or oral, made by Sponsor, Selling Agent or otherwise, including, but not limited to, any relating to the description or physical condition of the Property. the Building or the Unit, or the size or the dimensions of the Unit or the rooms therein contained or any other physical characteristics thereof, the services to be provided to Unit Owners, the estimated Common Charges allocable to the Unit, the estimated real estate taxes of the Units the ability to rent the unit and/or the rental income therefor, the right to any income tax deduction for any real estate taxes or mortgage interest paid by Purchaser. or any other data, except as herein or in the Plan specifically represented; Purchaser has relied solely on his or her own judgment and investigation in deciding to enter into this Agreement and purchase the Unit. No person has been authorized to make any representations on behalf of Sponsor. No oral representations or statements shall be considered a part of this Agreement. Purchaser agrees (a) to purchase the Unit, without offset or any claim against, or liability of, Sponsor, whether or not any layout or dimension of the Unit or any part thereof, or of the Common Elements, as shown on the Floor Plans on tile in Sponsor's office and to be filed in the City Register's Office. is accurate or correct, and al) that Purchaser shall not be relieved of any of Purchaser's obligations hereunder by reason of any immaterial or insubstantial inaccuracy or error. The provisions of this Article 20 shall survive the closing of title or the termination of this Agreement. 21. Prohibition Aeainst Advenitig. Purchaser hereby covenants and agrees that it sludi not, prior to the dosing of title hereunder list the Unit for sale or resale with any broker or otherwise advertise, promote, or publicize the availability of the Unit for sale. Any such listing of the Unit or form of advertising. promotion or publicizing of the Unit by Purchaser or its agents or representatives prior to the closing of title shall be an Event of Default hereunder, entitling Sponsor to the remedies set forth in Article 12 hereof. 11. Broker. Purchaser represents to Sponsor that Purchaser has not dealt with any broker in connection with this transaction other than Selling Agent and purchaser shall pa) the commission of any broker with whom Purchaser may have dealt, other than Selling Agent and the aforementioned broker. Purchaser agrees that, should any claim be made against Sponsor for commissions by any broker other than Selling Agent on ,lecount of any acts or dealings of Purchaser or Purchaser's representatives, Purchaser will indemnify and hold Sponsor free and harmless from and against any and all liabilities and expenses in connection therewith. including. but not limited to. reasonable legal fees and disbursements. The provisions of this Article 22 shall survive the closing at title or the termination of this Agrconcnt
23. AgIVC1110; May 23.1 This Agreement or any interest of Purchaser herein, shall not inure to the bend-it of any successors or assigns of Purchaser and rny not be assigned by purchaser, without th4 prior %linen consent of Sponsor. which consent may be given or denied by Sponsor in its s.zte discretion. Any purported assignment by Purchaser in violation of this Agreement shall be an event of default by Purchaser entitling Sponsor to all remedies available at law, in equity or otherAise, inclu%ling_ without limitation, the remedies set forth in Article 12 hereof, and shall be voidaNe at the option of Sponsor- IfPurchaser is a corporation. any sale, assignment, transfer, pledge, eneumbrance or other dispeition of any of the stock of Purchaser, or if Purchaser is a pk.1.713 Icrship_ limited liability- company or other entity. any sale. assignment, transfer* pledges encumbrance or other disposition of any interest in such partnership, limited liability company or Other entity shall. for purposes of this Agreement, be considered an assignment and shall be subiect to the pro%ikons. pn)hibitions and terms of this Article concerning assignment of this Aer, cement, ezeetpi that a sale of less than fifty percent (50%) of the stock, or in the case of a Nrtriership. limited liability company or other entity, less than fitly percent (50%) of the ounership interests. of Purchaser which does not result in a change in control of Purchaser shall not be considered an assignment. For purposes of the preceding sentence only, "control" shall mean the ownership of fifty-one percent (51%) or more of the interests in such entity or pkela..-iOn of the power to direct the management and policies of such entity and the distribution of its profits For purposes of this Agreement, it is the intent of the pani ies) that the individuals controlling Purchaser shall be deemed to be 231 If a Purchaser desires to assign its rights under this Agreement or to take title in the name of an affiliate of. or entity related to or controlled by Purchaser that differs from that reflected in this AiITCCITICIIL or to add. delete or substitute the name of a member of the PUMtuavr's family, then. if such assignment. alteration, addition, deletion or substitution is permitted by Sponsor tin SNitsor's sole discretion). Purchaser shall deliver to Selling Agent or Sponsor-s counsel. four (4) signed forms of assignment of this Agreement (to be prepared by Sponseles counsel at Purchaser's eaNnse and in form and content acceptable to Sponsor, in its sole discretion). as well as three () completed and signed copies of either Form W-9 (Request for Taxpayer Identification Number and Certification) or Form W-8BEN (Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding), as applicable, in the form required by law. Upon each assignment or other change permitted by Sponsor (it its sole , discretion). the assignments and Form or Form W-). as applicable. must be delivered to Selling Agent or Sponsor's counsel. together uith a personal certified check, or an official bank or cashier's check. in the amount of S1,500 made coyable to Kramer Levin Naftalis & Frankel LIP rfor sCINiCeS rendered in connection with the assignment). not less than twenty (20) days prior to the date sv.heduled for the Purchaser's closing. In no event shall Punthaser or its aignec (or any added or substituted party) have any right to adjourn or postpone the closing as a result of any such change or assigiunent. Sponsor is not obligated to consent to any such change_or assigiuncrit and. Sponsoes refusal to consent to an assignment or change in name will not cnutIc Pumhaser to cancel this Agreement or excuse Purchaser from any of its obligations hereunder or give rise to am claim for damages against Sponsor; and the prohibition against advertising or publicizing the availability of Purchaser's Unit as set fonh in Article 21 above and in the Plan will remain in effect. Z3A Notwithslamting the provisions of Section 23.1 above, Sponsor will not unreasonably withhold its consent to the assignment by Purchaser, on one (1) occasion only, of
16 all of Purchaser's rights under this Agreement to a Purchaser Affiliate or to membens) of Purchaser's Immediate Family. provided that any such assigtunem is made without consideration and otherwise in accordance with the provisions and procedures set forth in Section 23.3 above. For purposes of this Section 23.4 only: (i) "Purchaser Affiliate" =CMS an entity, as of the date of the assignment and at all times thereafter through and including the Closing, controlled by ot under common control with Purchaser; (ii) "Immediate Family Members" means Purchaser's spouse, domestic partner, children, grandchildren, parents. grandparents. brothers or slaters, stepchildren and stepparents; and (ill) "control.' means the ownership of fifty-one percent (3 I alo) or more of the interests in such entity and possession of the power to direct the management and policies of such entity and the distribution of its profits. 23.5 Notwithstanding any consent by Sponsor pursuant to the toms of this Article to any such change of name or assignment, in no event shall Purchaser, itS assignor. he released or relieved from any obligations. promises, covenants and liabilities under or in respect of this Agreement. 24. Binding Effect. The submission of this Agreement to Purchaser does not create is binding obligation on the part of Sponsor. This Agreement shall not be binding on Purchaser or Sponsor until Purchaser has signed this Agreement and delivered the signed Agreement and the Deposit to Sponsor. and a counterpart hereof executed by Sponsor has been delivered to Purchaser. If this Agreement is not signed by Sponsor and a fully executed counterpart delivered to Purchaser or its attorneys within thirty (30) days after the date hereof, this Agreement shall be deemed to have been rejected and the Deposit shall be promptly returned to Purchaser. Upon such refund being made, neither party shall have any further rights. obligations or liabilities hereunder with respect to the other. Prior to Sponsor's countersigning and returning this Agreement to Purchaser, and at any time thereafter. Purchaser agrees upon request to provide Sponsor with written information about Purchaser's employment. financial and rental/ownership history, Such information obtained prior to countersignature may be used to determine Purchaser's qualification to purchase and own the Unit, but does not constitute a reservation or binding obligation on either the applicant or Sponsor. Sponsor has the right, without incurring any liability, to reject this Agreement without cause or explanation to Purchaser. Agreement may not he rejected due to PUrChaSer'S sex. sexual orientation, race, creed, color, national origin, ancestry, disability., marital status, or other ground proscribed by law.
25. INIotices. 25.1 Any notice. election. demand. consent. request or other communication hereunder or wider the Plan shall be in writing and either delivered in person or sent, postage prepaid. by registered or certified mail, return receipt requested or by Federal Express or other reputable overnight courier, with receipt confirmed: to Purchaser at the address given at the beginning of this Agreement; and to Sponsor, addressed to Selling Agent at: Macklowc Properties Sales 1..L.C. 767 Fin Avenue, 21st Floor, New York. New York 10153, with a copy sent simultaneously and in like MUDIter to each of; (i) Kramer Levin Naftalis & Frankel 1177 Avenue of the Americas, New York, New York 10036. ‘ttention: Jonattum I I. Canter, Esq.; (ii) 56th and Park (tslY) Owner, 1.I.C, eio C1M °rout% 1-1)., 6022 I tollywooll Boulevard, Suite 000, Los Angeles. California 90028. Attention: Cienenit Counsel; and 56th and Park (NY) Owner. LEX, C1M Croup, L.P., 7250 Woodmont Avenue. Suite 30o. Bethesda,
17 Maryland 20814:2960, Attention: Charles E. Gamer Ii. Either party may hereafter designate to the other in writing a change in the address to which notices are to be sent. Except as otherwise expressly provided herein, a notice shall be deemed given when personal delivery or delivery by overnight courier is effected or, in the case of mailing, three (3) days after the date of mailing. except that the date of actual receipt shall be deemed to be the date of the giving of any notice of change of address.
25.2 Sponsor hereby designates and empowers Sponsors closing counsel (Kramer Levin Naftalis & Frankel LLP) as Sponsor's agent to give any notice to Purchaser under this Agreement (including, without limitation, a notice of default) in Sponsor's name, which notice so given shall have the same force and effect as if given by Sponsor itself.
Joint Purchasers. The term "Purchaser" shall be read as "Purchasers" if the Unit is being purchased by more than one person, in which case their obligations shall be joint and several.
27. Liability of Sponsor. Sponsor shall be excused from performing any obligation or undertaking provided for in this Agreement for so long as such performance is prevented. delayed or hindered by an act of God, tire, flood, explosion, war, riot, sabotage, inability to procure or general shortage of energy. labor, equipment, facilities, materials or supplies in the open market, failure of transportation, strike, lockout, action of labor unions, or any other cause (whether similar or dissimilar to the foregoing) not within the reasonable control of Sponsor. Sponsor's time to perform such obligation or undertaking shall be tolled for the length of the period during which such performance was excused.
28. Further Assurances, Either party shall execute. acknowledge and deliver to the other party such instruments and take such other actions, in addition to the instruments and actions specifically provided for herein, as such other party may reasonably request in order to effectuate the provisions of this Agreement or of any transaction contemplated herein or to confirm or perfect any right to be created or transferred hereunder or pursuant to any such transaction. 29 Severabilitv. If any provision of this Agreement or the Plan is invalid or unenforceable as against any person or under certain circumstances, the remainder of this Agreement or the Plan and the applicability of such provision to other persons or circumstances shall not be affected thereby. Each provision of this Agreement or the Plan, except as otherwise herein or therein provided, shall be valid and enforced to the fullest extent permitted by law. 30. Strict Compliance. Any failure by either party hereto to insist upon the strict performance by the other party of any of the provisions of this Agreement shall not be deemed a waiver of any of the provisions hereof, and each party, notwithstanding any such failure, shall have the right thereafter to insist upon the strict performance by the other party of any and all of the provisions of this Agreement to be performed by such other party.
31. No Lien. Neither this Agreement nor any monies deposited hereunder or expended by Purchaser in connection herewith shall constitute a lien against the Unit, any other Units, or any other portion of the Building or the Land upon which it is situated.
Is 32.Goya__ r_)I&---1Law. The provisions of this Agreement shall be governed by. and construed and enforced in accordance with, the internal laws of the Stale of New York applicable to contracts made and to he performed wholly in the State of New York, without regard to principles of conflicts of law.
33. Purchaser's Representations. 33.1 Purchaser represents that Purchaser has full right and authority to execute this Agreement and perform Purchaser's obligations hereunder. If Purchaser is not a natural person. Purchaser agrees to deliver at Closing, such documents evidencing Purchaser's authority as may be required by Purchaser's title company. Purchaser further represents that the Deposit represents Purchaser's own funds and that no other party (other than Purchaser or Seller, as provided herein) has any right or claim to all or any portion of the Deposit. 33.2 Purchaser is not now, nor shall it be at any time prior to or at the closing of title. an individual corporation, partnership. joint venture, trust. trustee, limited liability company, unincorporated organization, real estate investment trust or any other form of entity (collectively, a "Person") with whom a United States citizen, entity organized under the laws of the United States or its territories or entity having its principal place of business within the United States or any of its territories (collectively, a "U.S. Person"). is prohibited from transacting business of the type contemplated by this Agreement, whether such prohibition arises under United States law, regulation, executive orders and lists published by the Office of Foreign Assets Control, Department of the Treasury ("01Ac") (including those executive orders and lists published by OFAC with respect to Persons that have been designated by executive order or by the sanction regulations of OFAC as Persons with whom U.S. Persons may not transact business or must limit their interactions to types approved by ()PAC or otherwise. Neither Purchaser nor any Person who owns an interest in Purchaser is now nor shall be at any time prior to or at the closing of title a Person with whom a U.S. Person, including a "financial institution" as defined in 31 U.S.C. 5312 (a)(z), as periodically amended, is prohibited from transacting business of the type contemplated by this Agreement, whether such prohibition arises under United States law regulation, executive orders and lists published by the OFAC or otherwise. 33,3 Purchaser has taken, and shall continue to take until the closing of title. such measures as are required by applicable law to assure that the funds used to pay to Seller the Purchase Price are derived: (i) from transactions that do not violate United States law nor, to the extent such funds originate outside the United States, do not violate the laws of the jurisdiction in which they originated; and (ii) from permissible sources under United States law and to the extent such funds originate outside the United States. under the laws of the jurisdiction in which they originated. Purchaser is. and will at closing be, in compliance with any and all applicable provisions of the USA PATRIOT Act of 1001, Pub. L. No. 107-56, the Bank Secrecy Act of 1970, as amended, 31 LI.S_C. Section 5311 et. seq.. the Trading with the Enemy Act, 50 U.S.C. App. Section 1 et. seq.. the International Emergency Economic Powers Act, 50 U.S.C. Section 1701 Ct. seq., and the sanetion regulations promulgated pursuant thereto by the OFAC, as well as laws relating to prevention and detection of money laundering in IS Sections 1956 and 1957. 33.4 The provisions of this Article shall survive the closing of title to the Unit or termination of this Agreement. 34. AtireeMellt Not Contingent Upon Financing. The terms and provisions of this Agreement and Purchaser's obligations hereunder are not contingent upon Purchaser securing financing of the Purchase Price (or any portion thereof) stated in Article 3 of this Agreement, and Purchaser understands and agrees that Purchaser's failure to obtain such financing will not relieve Purchaser of Purchaser's obligations hereunder. Purchaser further understands and agrees that if Purchaser chooses to finance the purchase of the Unit through a lending institution and Obtain a commitment therefrom, neither a subsequent change in the terms of such commitment, the expiration or other termination of such commitment, any change in Purchaser's financial status or condition, nor any delay in or adjournment of the Closing, shall release or relieve Purchaser of Purchaser's obligations pursuant to this Agreement.
35. Costs of lnlbreing and Defendingireement. Purchaser shall be obligated to reimburse Sponsor for any legal fees and disbursements incurred by Sponsor in defending Sponsor's rights under this Agreement or, in the event Purchaser defaults under this Agreement beyond any applicable grace period, in canceling this Agreement or otherwise enforcing Purchaser's obligations hereunder. The provisions of this Article shall survive closing of title or the termination of this Agreement_ 36. Waiver of Jury Trial. Except as prohibited by law, the parties shall, and they hereby do, expressly waive trial by jury in any litigation arising out of, connected with, or relating to this Agreement or the relationship created hereby or in the Plan. With respect to any matter for which a jury trial cannot be waived, the parties agree not to assert any such claim as a counterclaim in, nor move to consolidate such claim with, any action or proceeding in which a jury trial is waived. The provisions of this Article shall survive closing of title or the termination of this Agreement. 37. Waiver of Diplomatic or Sovereign Inu__3Nlj.1 37.1 Purchaser hereby waives any and all immunity from suit or other actions or proceedings and agrees that, should Sponsor or any of its successors or assigns bring any suit, action or proceeding in New York or any other jurisdiction to enforce any obligation or liability of Purchaser arising, directly or indirectly, out of or relating to this Agreement. no immunity from such suit, action or proceeding will be claimed by or on behalf of Purchaser. 37.2 As of the execution of this Agreement. Purchaser acknowledges and agrees that all disputes arising, directly or indirectly, out of or relating to this Agreement may be deah with and adjudicated in the state courts of New York or the federal courts sitting in New York. and hereby expressly and irrevocably submits ihe person of Purchaser to the jurisdiction of such Courts in any suit, action or proceeding arising, directly or indirectly, taut of or relating to this Agreement, So far a-S is permitted under the applicable law, this consent to personal junsdiction shall be self-operative and no further instrument or action shall be necessary in order to confer jurisdiction upon the person of Purchaser in any such court.
20 37,3 Purchaser irrevocably waives, to Ihe fullest extent permitted by 14m ma agrees not to assert, by way of Motion, as a defense or otherwiSe üi an suit. action or proce-c‘ting arising, directly or indirectly, out of relating to this Agreement. brought in the state courts in New York or the federal courts sitting in New York: (i) an oblection which it ina have or tmty hereafter have to the laying of the venue of any such suit, action or proceeding in an such cvluzt: (ii) any claim that any such suit, action or proceeding brought in any such court has lxvit brought in an inconvenient forum; or (iii) any claim that it is not personally sublect to the jurisdiction of such courts. Purchaser agrees that final judgment from which Puivitaser has not or ma) not appeal or further appeal in any such suit. action or proceeding brought in such a ...owl shall be conclusive and binding upon Purchaser and. may so far as is permitted under the applicable law, be enforced in the courts of any state or any federal court and in au other c‘Nurts to the jurisdiction of' which Purchaser is subject, by a suit upon such judgment and that Purchaser will not assert any &tense, counterclaim, or set off in any such suit upon such judgment.
37.4 Purchaser agrees to execute. deliver and file all such further instruments as may be necessary under the laws of the State of New York. at order to make (4(N-two the consent of Purchaser to jurisdiction of the state courts of New York and the federal courts sitting in New York and any other provisions of this Article 37. 37.5 Nothing in this Article 37 shall affect the right of Sponsor to tring proceedings against Purchaser in the courts of any jurisdiction or jurisdictions. 37.6 The provisions of this Article 37 shall survive the closing of title or the termination of this Agreement for the purpose of any suit, action. or proceAting arising dirwil• or indirectly, out of or relating to this Agreement. 37.7 In the event Purchaser is a foreign government, a resident representative of a foreign government or such other person or entity otherwise entitled to the inIMUnitieS from suit enjoyed by a foreign government (i.e., diplomatic or sovereign immunity). such Puniiaser shall hereby be deemed to have designated and hereby designates C.T. Corporation Syment having its offices, at the date hereof. at 11 I Eighth Avenue. New York, New York loot I as duly authorized and lawful agent to receive process for and on behalf of Purc h ase r in any state or Federal suit, action or proceeding in the State of New York based on. arising out of ot ,•onneetc.d with this Agreement. 37.8 If Purchaser is a foreign mission. U.S SUCh terill is defined undet the Foreign Missions Act. 22. U.S.C. 4305, Purchaser shall notify the United Slates Department of State prior to purchasing a Unit and provide a copy of such notice to Sponsor. Sponsor shall not he bound under this Agreement unless and until the earlier to occur of: (i) a notification of appnwal received from the Department of State; or (ii) sixty (60) days idler Purchaser's notice is recetved by the Department of State. 38. Mold,. Purchasers are advised that the prevention of the growth of mold in a Unit is the responsibility of each Unit Owner. consiniction is not. and cannot be. de-signed to eNehoe mold spores. Whether a t nit Owner experiences mold growth depends largely on him NMI Unit Owner, manages and maintains his/her Unit. Unit Owners will need to take aettoris to prevm conditions which cause the mold or mildew, and it is the mspoosibility or each I nit Owne:
21 ensure that he/she has taken the necessary precautions to prevent mold from becoming a problem in such Unit Owner's Unit. Sponsor will not be liable for and Purchaser hereby waives any claim for any actual, special. incidental or consequential damages based on any legal theory Whatsocv er including, but not limited to, strict liability, breach of express or implied womanly, negligence or any other legal theory with respect to the presence and/or existence of molds, mildm and/or microscopic spores unless caused by the gross negligence or willful misconduct of Sponsor. The provisions of this Article shall survive closing of title or the termination of this Agreement. 39. Entire Agreement. This Agreement, together with the Plan, supersedes any and all understandings and agreements between the parties and constitutes the entire agreement between them with respect to the subject matter hereof. 40. Certain References. A reference in this Agreement to any one gender. masculine, feminine or neuter, includes the other two, and the singular includes the plural. and vice versa, unless the context otherwise requires. The term "herein." "hereof" or "hereunder," or similar terms used in this Agreement. refer to this entire Agreement and not to the particular provision in which the term is used. Unless otherwise stated, all references herein to Articles, Sections or other provisions are references to Articles, Sections or other provisions of this Agreement.
41. Captions. The captions in this Agreement are for convenience and reference only and in no way define. limit or describe the scope of this Agreement or the intent of any provision hereof. 42. Successors and Assigns. Subject to the provisions of Article 23 hereof, the provisions of this Agreement shall bind and inure to the benefit of Purchaser and Purchaser's heirs, legal representatives, successors and permitted assigns and shall bind and inure to the benefit of Sponsor and its successors and assigns. 43. No Oral Changes_ This Agreement, or any provision hereof, cannot be orally changed. terminated or waived. ANY CHANGES OR ADDITIONAL PROVISIONS MUST BE SET FORTH IN A RIDER ATTACHED HERETO OR IN A SEPARATE WM ITEN AGREEMENT SIGNED BY THE PARTIES AND WHICH REFERS TO THIS AGREEMENT. 44. Counterparts. This Agreement and any Rider(s) which may be annexed hereto may be executed in one or more counterparts, each of which shall be deemed to by an original and all of which shall constitute one and the Sallie document. A facsimile signature on this Agreement (or any such Rider(s)) shall be acceptable and be deemed binding. rhe party tendering such facsimile signature shall provide the other party with original counterparts of the signature page promptly after delivery of the facsimile signature page. although the failure to do so shall not invalidate the effectiveness of the facsimile signature. 45.tgJerA_I• Construction. There shall be no presumption against the drafter of this Agreement or the Plan. 46. Section 1031 Exchange, Sponsor hereby acknowledges that the acquisition of the Unit hereunder may be in COnneCtion v.ith a likX deferred exchange under *1031 of the Internal Revenue Code and that Purchaser (except as prohibited by paragraph 24 of this Agreement ) may
22 be assigning all of its rights and obligations hereunder to a qualified intermediary as part of, and in furtherance of, such tax deferred exchange. Sponsor hereby agrees to reasonably assist and cmperate in such tax deferred exchange, provided, however, that: (I) any action taken in connection with such tax deferred exchange or requested of Sponsor shall not result in any cost, expense or liability on the part of Sponsor or increased risk to Sponsor relating to the transaction contemplated by this Agreement (and, among other things, Purchaser acknowledges that a fee may be payable to Sponsor's counsel in connection with the review of any documentation related to such tax-deferred exchange); (ii) no action or failure on the part of Purchaser (or any other party to such tax deferred exchange) or cooperation on the part of Sponsor in connection with or related to said tax deferred exchange will frustrate the purpose of this Agreement or otherwise result in a reduction of Sponsor's rights, remedies and privileges under this Agreement or increase any of Sponsor's obligations or duties under this Agreement or otherwise; and (iii) Sponsor shall not be obligated, as part of any tax deferred exchange. to convey any property (other than the Unit). acquire any property, or accept any form of payment in respect of the amounts due hereunder other than as set forth herein. Purchaser shall indemnify and shall hold Sponsor harmless from and against any and all costs, expenses, fees (including, without limitation. reasonable attorneys' fees) or liabilities incurred by Sponsor in connection with or resulting from the said tax deferred exchange. and such indemnity shall survive the closing of title or the termination of this Agreement. Notwithstanding the foregoing, Sponsor makes no representation and expresses no opinion with respect to the applicability of §I031 of the Internal Revenue Code to the purchase or acquisition of a Unit,
[NO FURTHER TEXT ON THIS PAGE; SIGNATURE PAGE FOLLOWS]
•
23 YOU HAVE THE OPTION TO CANCEL YOUR AGREEMENT BY NOTICE TO SPONSOR UNTIL MIDNIGHT OF THE SEVENTH DAY FOLLOWING THE SIGNING OF THE AGREEMENT. IF YOU DID NOT RECEIVE A PROPERTY REPORT PREPARED PURSUANT TO THE RULES AND REGULATIONS OF THE OFFICE OF INTERSTATE LAM) SALES REGISTRATION PROGRAM, CONSUMER FINANCIAL PROTECTION BUREAU (UM), IN ADVANCE OF YOUR SIGNING THE AGREEMENT, THE AGREEMENT MAY BE CANCELLED AT YOUR OPTION FOR TWO YEARS FROM THE DATE OF SIGNING. IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first set forth hereinabove. SPONSOR:
56111 AND PARK (NY) OWNER, LLC
By: Name:
PURCHASER(s):
By: Name: Title: Social Sec. Number or Federal Tax ID:
PURCHASER(S)
By- Name: Title: Social Sec. Number or Federal Tax ID:
KIR:baser acknowledges receipt Initials of Purchase:110: of Offering Plan and amendments on 20
24 SIAM OF NEW YORK ) SS.: COUNTY OF NEW YORK )
On the day Of in the year before me. the undersigned, personally appeared , personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the Willitn instrument and acknowledged to me that he/she/they executed the same in his/her/their capaeity(ies), and that by his/her/their signature(s) on the instnunent, the individual(s), or the person on behalf of which the individual(s) acted, executed the instrument.
Notary Public
STATE OF NEW YORK SS.: COUNTY OF NEW YORK )
On the day of in the year before me, the undersigned, personally appeared , personally known to me or proved to me on the basis or satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their eapacity(les), and that by his4teritheir signature(s) on the instrument, the individual(s), or the person on behalf of which the individual(s) acted, executed the instrument.
Notary Public
; — m—iv I I SCHEDULE A
DESCRI l'TION OF THE LAND
PERIMETER OF PRESENT LOT 33 LOTS 33 44, 145 LOTS 45 46:
ALL THAT CERTAIN PLOT, PIECE OR PARCEL OF LAND. SITUATE, LYING AND BEING IN THE BOROUGH OF MANHATrAN, COUNTY, CITY AND STATE OF NEW YORK BOUNDED AND DESCRIBED AS FOLLOWS:
BEGINNING AT THE CORNER FORMED BY THE INTERSECTION OF THE NORTHERLY SIDE OF EAST 561'11 STREET WITH THE WESTERLY SIDI'. OF PARK AVENUE;
RUNNING THENCE NORTHERLY ALONG THE SAID WESTERLY SIDE OF PARK AVENUE. 67 FEET I INCH;
THENCE WESTERLY PARALLEL WITH SAID NORTHERLY SIDE OF EAST 56TH STREET. 100 FEET; THENCE NORTHERLY PARALLEL WITH SAID WESTERLY SIDE OF PARK AVENUE. 33 FM 4 INCHES TO THE CENTER LINE OF THE BLOCK;
THENCE WESTERLY ALONG THE CENTER LINE OF THE BLOCK 66 FEET 9 INCHES;
THENCE NORTHERLY ON A LINE PARALLEL WITH MADISON AVENUE AND PARTLY THROUGH A PARTY WALL, OR DIVISION WALL, 100 FEET 5 INCHES TO THE SOUTHERLY LINE OF 5711I STREET;
THENCE WESTERLY ALONG THE SAID SOUTHERLY LINE OF 5711 STREET, 83 FEET 9 INCHES;
THENCE SOUTI 1ERLY, PARALLEL WITH MADISON AVENUE, PART OF THE WAY THROUGI I A PARTY WALL STANDING PARTLY ON THE LOT OF LAND HEREBY DESCRIBED AND PARTLY UPON THE LOT OF LAND ADJOINING THE SAME ON THE WEST 100 FEET 5 INCHES TO THE CENTRE OF THE BLOCK BETWEEN 5611 I AND 57TH STREETS:
THENCE WESTERLY PARALLEL WITH 57TH STREET. AND ALONG %mt.) cENrRE LINE 01:11-IE BLOCK, 24 FEU 6 INCITES;
Schedule A- I THENCE SOUTHERLY PARALLEL WITH SAID WESTERLY SIDE OF PARK AVENUE, 100 FEET 5 INCHES TO THE SAID NORTHERLY SIDE OF EAST 56TII STREET;
THENCE EASTERLY ALONG SAID NOR FHERLY SIDE OF EAST 56TI I STREET, 275 FEET TO THE POINT OR PLACE OF BEGINNING.
PERIMETER OF LOT 43:
ALL THAT CERTAIN PLOT, PIECE OR PARCEL OF LAND, SITUATE. LYING AND BEING IN THE BOROUGH OF NIANHATIAN. COUNTY AND STATE OF NEW YORK AND BEING MORE PARTICULARLY DESCRIBED As FOLLOWS:
BEGINNING AT A POINT IN THE SOUTHERLY SIDE OF EAST FIFTY- SEVENTH STREET, DISTANT TWO HUNDRED THIRTY-THREE (233) FEET THREE (3) INCHES EASTERLY FROM THE CORNER FORMED BY THE INTERSECTION OF SAID SOUTHERLY SIDE OF EAST FIFTY- SEVENTH STREET WITH TIE EASTERLY SIDE OF MADISON AVENUE; AND
RUNNING THENCE SOUTHERLY AND PARALLEL WITH MADISON AVENUE AND PART OF THE WAY THROUGH A PARTY WALL. ONE IIUNDRED (100) FEET FIVE (5) INCHES TO THE CENTER LINE OF THE BLOCK;
THENCE EASTERLY ALONG SAID CENTER LINE OF THE BLOCK. SEVENTEEN (17) FEET, NINE (9) INCHES;
THENCE NORTHERLY AND AGAIN PARALLEL WITH MADISON AVENUE AND PART OF THE WAY THROUGH ANOTHER PARTY WALL ONE HUNDRED (100) FEET FIVE (5) INCHES TO THE SOUTHERLY SIDE OF EAST FIFTY SEVENTH STREET;
THENCE WESTERLY ALONG THE SAID SOUTHERLY SIDE OF EAST FIFTY-SEVENTH STREET, SEVENTEEN (17) FEET NINE (9) INCIIES TO THE POINT AND PLACE OF BEGINNING. SCHEDULE B
PERMITTED ENCUMBRANCES
1. Building and zoning laws and other regulations. resolutions and ordinances (including, but not limited to. any variances or use regulations) and any amendments thereto now or hereafter adopted.
2. The terms, burdens, covenants, restrictions, conditions, easements and rules and regulations, all as set forth in the Declaration, the Condominium By-Laws (and the General Rules and Regulations made thereunder). the Residential By-Laws (and the Residential Rules and Regulations made thereunder) or the Commercial By-Laws (and the Commercial Rules and Regulations made thereunder), as applicable, the Power of Attorney from Purchaser to the Condominium Board, the Residential Board and Grantor or the Power of Attorney from Purchaser to the Condominium Board, the Commercial Board and Grantor. as applicable, and the Floor Plans, all as may be amended from time to time.
3. Any declaration or other instrument affecting the Property which Sponsor deems necessary or appropriate to comply with any Law, ordinance, regulation, zoning resolution or requirement of the Department of Buildings, the City Planning Commission. the Board of Standards and Appeals. or any other public authority, applicable to the demolition, construction, alteration, repair or restoration of the Building or any portion or element thereof.
4. Consents by Sponsor or any former owner of the Land for the erection of any structure or structures on, under or above any street or streets on which the Property may abut.
5. Any easement or right of use in favor of any utility company for construction, use, maintenance or repair of utility lines, wires. terminal boxes, mains, pipes, cables, conduits, poles, connections and other equipment and facilities on, under and across the Property.
6. Any easement or right of use required by Sponsor or its designee to obtain a temporary, permanent or amended Certificate of Occupancy for the Building or any part of same.
7. Any encumbrance as to which the Title Company (or the title insurance company that insures Purchaser's title to the Unit) would be willing to insure, at its regular rates and without additional premium, in a fee policy issued by it to Purchaser, that such encumbrance will not be collected out of or enforced against the Unit Wit is a lien, or that such encumbrance is not a blanket lien encumbering the Common Elements.
8. Any other encumbrance. covenant, easement. am-cement. or restriction against the Property other than a mortgage or other lien for the payment of money, which does not prevent the use of the Unit for its permitted purposes. 9. Revocability Itice.nses for vault space, if any. under the sidewalks and streets and the lien of a yaoift tax
Schedule 10. Encroachments of trim, copings, retaining walls, stoops, bay windows, balconies, sidewalk elevators. fences, fire escapes, cornices, foundations, footings, chutes, fuel oil lines, drainage and standpipes, and similar projections, if any, on, over or under the Property or the streets, sidewalks or premises abutting the Property, and the rights of governmental authorities to require the removal of any such projections, and variations between record lines of the Property and retaining walls and the like, if any.
11. Leases and service, maintenance, employment, concessionaire and license agreements, if any, of other Units or portions of the Common Elements.
12. The lien of any unpaid Common Charges. real estate tax, water charge or sewer rent, provided the same arc adjusted at the closing of title.
13. 'lite lien of any unpaid assessment payable in installments (other than assessments levied by the Condominium Board or the Residential Board or the Commercial Board, as applicable), except that Sponsor shall pay all such assessments due prior to the Closing Date and Purchaser shall pay all assessments due from and after such date (however, the then current installment shall be adjusted at the closing of title).
14. Franchise taxes and New York City Business Corporation taxes of any corporation in the chain of title, provided that the Title Company would be willing in a fee policy issued by it to Purchaser, to insure that such taxes will not be collected out of the Unit.
15. Standard printed exceptions contained in the form of fee tide insurance policy then issued by the Title Company (or the title insurance company insuring Purchaser's title to the Unit).
16. Any Certificate of Occupancy for the Building, so long as the same permits, or does not prohibit. use of the Unit for its stated purposes.
17, Any lease or other occupancy agreement for the Unit made by Sponsor and Purchaser.
18. Any violations against the Property (other than the Unit) that are the obligation of the Condominium Board or another Unit Owner or Board to correct.
19. Any state of facts which a guaranteed survey of current date or a personal inspection of the Property and the Unit would show; provided such state of facts would not prevent the use of the Unit for its stated purposes; although any encroachment of a portion of the Unit structure upon another Unit or Units or upon the Common Elements may remain undisturbed as long as the same shall stand. 20. Covenants and Restrictions in Libel- 1049 Cp. 530 as repeated in Liber 1066 cp. 179 and Tiber 1968 cp 460. (Affects Lots 33. 43,44 and more. Lot 41)
21. Permanent Easements acquired by The Metropolitan Transportation Authority in Action entitled: -East Side Access Project (Deep Tunnel Easements...)" filed in the New York County Clerk's Office under Index No. 400818/03. (Affects Lot 33)
Schedule B-2 22. Zoning Lot Development Agreement dated 9/13/2006 made between 44 East 57th St. Realty Corp., inc., as Seller and 440 Park Avenue Owner Associates LLC, as Developer, recorded on 10/25/2006 as CRFN 2006000596371. (Affects Lots 33, and 44. and more, Lot 41).
23. Zoning Lot Development Agreement dated as of 12/4/2006 between Angel Enterprises, L.L.C.. as Seller and 440 Park Avenue Owner Associates LLC, as Developer, recorded on 12/12/2006 as CRFN 2006000680850. (Affects Lots 33, and more, Lot 41 and Development Rights parcel therein, Lot 42).
24. Zoning Lot Development and Easement Agreement dated as of 9/29/2007 by and between Dakotah Travel Co., LLC. as Seller, and 440 Park Avenue Owner Associates, LLC, as Developer, recorded on 10/29/2007 as CRFN *2007000542730. (Affects Lots 33. 41, 44, 46 and 145- Parcels 1, 11, LII. IV and V).
25. Zoning Lot Development and Easement Agreement dated as of 12/2312010 by and between 46 East 57th St. (NY), LLC. Owner and 440 Park Avenue (NY) Owner, LLC. Developer recorded 1/12/2011 as CRFN 2011000014567. (Affects Lots 33, 44, 145, 46 and more, Lot 41, Developer Land, Lots 42 and 45. Air Rights Parcels therein, and Lot 43, Owner Parcel).
26. Zoning Lot Development Agreement made by and between 440 Park Avenue (NY) Owner. LLC ("Owner") and 440 Park Avenue (NY) Owner, LLC ("Developer") dated as of 1 I.r2/2011 recorded I I/10/2011 as CRFN 2011000394772. (Affects Lots 33, former Lot 44. former Lot 145, 46 and 43, Developer's Land, and Lot 41. Owner's Land).
27. All other easements, covenants, restrictions and matters of record.
Schedule 0-3 SCHEDULE C
INSPECTION STATEMENT
56th and Park (NY) Owner, LLC 515 Madison Avenue, 41'' Moor New York, Nev, York 10022
Re: Unit No. 432 Park Condominium
Ladies and Gentlemen:
As a result of my/our final inspection, please be advised that except as otherwise noted, Ohre round the following items in good condition, free of chips, mars, breaks or other defects:
Exceptions
Items Initials if any
Windows, window frames electric fixtures & Interior painted surfaces Sinks. tubs, bowls & shower doors & trim Kitchen cabinets & counter tops Vanity tops & base Medicine cabinets. doors & mirror 1-lantware Flooring Appliances
-1 e- I/we understand Mal to prevent pilferage. cenain items such as medicine cabinet doors, shower heads, toilet seats. kitchen cabinets. vanity knobs and mechanical chimes will be installed just prior to my/our date of moving. Ilwe agree and Ilvee will sign off each item requiring adjustment or rcpairs as it is completed,
Purchaser's Signature
Purchaser's Signature Sponsorls Represemative
Schedule C-1 ESCROW RIDER
To Agreement Sponwr: 50 rit AND PARK (NY) OWNER, LLC Purchaser(s): Escrow Agent: Kramer Levin Naftalis & Frankel LLP
This rider cFscrow Rider") to the captioned Agreement shall constitute a %Airitten agreement among Sponsor. Purchaser and Escrow Agent with respect to the subject matter hereof. Capitalized terms used but not defined herein shall have the meanings ascribed thereto as set forth in the captioned Agreement andrbr the Plan, as applicable.
1. The law firm of Kramer Levin Naftalis & Frankel LLP, with an address at 1177 Avenue of the Americas, New York. New York 10036. and telephone number 212-715-9100, shall serve as escrow agent C'Escrow Agent") for Sponsor and Purchaser. Escrow Agent has designated the following attorney' to serve as sienatory Jay A. Neveloff, Jonathan H. Canter, Paul S. Pearlman. Neil R. Tucker. James Godman and Howard J. Rothman. AU designated signatories, current or future, are or will be admitted to practice law in the State of New York. Neither the Escrow Agent nor any authorized signatories on the account are the Sponsor. Selling Agent, Managing Agent, or any principal thereof, or have any beneficial interest in any of the foregoing.
2. Escrow Agent and all authorized signatories hereby submit to the jurisdiction of the State of New York and its Courts for any cause of action arising out of the Agreement or otherwise concerning the maintenance of release of the Deposit from escrow.
3.idEscrow Agent has established the escrow account at Citibank N.A., 153 East 53 Street, , New York. Ncw York 10022 and/or Israel Discount Bank of Nev.' York. 511 Fifth Avenue, New York. New York 10017 (individually or collectively, as the context requires, the "Bank"), each of which is a bank authorized to do business in the State of New York, Each escrow account is entitled -432 Park Condominium Attorney Escrow Account" or similar name (each. the "Escrow Account"). The Escrow Account is federally insured by the FDIC at the maximum amount of S250.000 per deposit (the FDIC limit in effect as of the filing date hereof). Any deposit in excess of S250.000 (or the FDIC limit in effect from time to time) will not be insured.
4. All Deposits received from Purchaser shall be made by unendorsed check drawn only on a member bank of the New York Clearing House Association made payable to "Michael. Levitt & Rubenstein. LI.C. as escrow agent." At the Sponsor's option, Sponsor may require that the Deposit and the Balance be made by Purchaser by wire transfer Co an account designated by Sponsor.
5. The interest rate for all Deposits made into the Escrow Account shall be the prevailing rate for such accounts, which is fixed by the Bank (as defined above) and which will vary from time to time. As of May 3.1013, such rate at Citibank NA. was between 0.05% and 0.10% per annum and such rate at Israel Discount Bank was 0.10% per annum. The actual initial interest rate for the Escrow ACCOUnt %%ith rCSNet to any particular Purchaser's Deposit shall be set forth in the 110tICC to be sent to Purchaser (as described below). As noted, the interest rate on such accounts will fluctuate and neither Sponsor nor Escrow Agent makes any representation
Escrow Rider regarding the rates that will be in effect from time to time or the actual rate of interest on, or the interest that may accrue for any particular account or for any particular Purchaser. from time to time. Interest, if any, shall begin to accrue upon placing the Deposit into the Escrow Account, however, no interest will be earned until the Deposit cheek is deposited with and collected by the Bank and provided that the Purchaser has delivered the required number of completed and signed Form W-9 (Request for Taxpayer Identification Number) in the form reproduced as Exhibit I A in Part 11 of the Plan or Form W-REN (Certificate of Foreign Status of Beneficial Owner for United Stales Tax Withholding) in the form reproduced as Exhibit I B in Part 11 of the Plan, as applicable. to Sponsor or Selling Agent at the time Purchaser tenders the Deposit and the Aereement. If a Purchaser does not deliver the Form W-9 or Form W-8BEN. as applicable, the Deposit will be deposited in a non-interest-bearing escrow account at the aforesaid bank until the Form W-9 or Form W-8BEN has been delivered, and neither Sponsor, Selling Agent, the Escrow Agent nor the Bank shall be liable for interest for the period prior to the delivery of such form. Interest will not be earned after a withdrawal is made from the Escrow Account in anticipation of the closing. All interest earned on a Purchaser's Deposit shall be paid to or credited to the Purchaser at closing unless Purchaser has defaulted and Sponsor is entitled to retain the Deposit. No fees of any kind may be deducted from the Escrow Account, and Sponsor shall bear all costs associated with the maintenance of the Escrow Account.
6. Within five (5) business days after the Agreement has been tendered to Escrow Agent along with the Deposit, Escrow Agent shall sign the Agreement and place the Deposit into the Escrow Account. Within ten (10) business days of placing the Deposit into the Escrow Account, Escrow Agent shall provide written notice to Purchaser and Sponsor, confirming the Deposit. The notice shall provide the account number and the initial interest rate to be earned on the Deposit. Any Deposits made for upgrades, extras, or custom work shall be initially deposited into the Escrow Account, and released in accordance to the terms of a written agreement between Purchaser and Sponsor.
7. Escrow Agent is obligated to send notice to the Purchaser once the Deposit is placed in the Escrow Account. If the Purchaser does not receive notice of such deposit within fifteen (15) business days alter tender of the Deposit and execution of the Agreement by Sponsor. Purchaser and Escrow Agent, then Purchaser may cancel the Agreement within ninety (90) days after tender of the Agreement and Deposit to Escrow Agent- Complaints concerning the failure to honor such cancellation requests may be referred to the New York State Department of Law. Real Estate Finance Bureau, 120 Broadway, 23rd Floor. New York, N.Y. 10271. Rescission shall not be afforded where proof satisfactory to the Attorney General is submitted establishing that the Deposit was timely placed in the Escrow Account in accordance with the New York State Department of Law's regulations concerning Deposits and requisite notice was timely mailed to the Purchaser.
8. All Deposits, except for advances made for upgrades, extras, or custom work received in connection with the Agreement, are and shall continue to be the Purchaser's money, and may not be comingted with any other money or pledged or hypothecated by Sponsor. as per Gl3L * 352- It
9. Under no circumstances shall Sponsor seek or accept release of the Deposit of a defaulting Purchaser until after consummation of the Plan. as evidenced by the acceptance of a
Escrow Rider post-closing amendment by the New York State Department of Law. Consummation of the Plan does not whew the Sponsor of its obligations pursuant to GBL §§ 352-e(2-b) and 352-h.
10. The Escmw Agent shall release the Deposit if so directed:
(a) pursuant to terms and conditions set forth in the Agreement upon closing of title to the Unit; or
kb) in a subsequent writing signed by both Sponsor and Purchaser; or
(c) by a final, non-appealable order or judgment of a court.
If the Escrow Agent is not directed to release the Deposit pursuant to paragraphs (a) through (c) immediately above, and Escrow Agent receives a request by either party to release the Deposit. then the Escrow Agent must give both the Purchaser and Sponsor prior written notice of not fewer than thirty (30) days before releasine. the Deposit. If Escrow Agent has not received notice of objection to the release of the Deposit prior to the expiration of the thirty (30) day period. the Deposit shall be released and Escrow Agent shall provide further written notice to both parties informing them of said release. If Escrow Agent receives a written notice from either party objecting to the release of the Deposit within said thirty (30) day period, Escrow Agent shall continue to hold the Deposit until otherwise directed pursuant to paragraphs (a) through (e) immediately above, Notwithstanding the foregoing, Escrow Agent shall have the right at any time to deposit the Deposit contained in the Escrow Account with the clerk of the county where the Building is located and shall give written notice to both parties of such deposit.
Sponsor shall not object to the release of the Deposit to:
(a) a Purchaser who timely rescinds in accordance with an offer of rescission contained in the Plan or an amendment to the Plan; or
(b) all Purchasers after an amendment abandoning the Plan is accepted for tiling by the Department of Law.
The Department of Law may perform random reviews and audits of any records involving the Escrow Account to determine compliance with all applicable statutes and regulations.
_ _ 11. Any provision of any Agreement or separate agreement, whether oral or in writing, by which a Purchaser purports to waive or indemnify any obligation of Escrow Agent holding any Deposit in trust is absolutely void. The provisions of the Attorney General's regulations and GBL §§ 352-e(2-b) and 352-h concerning escrow trust funds shall prevail over any conflicting or inconsistent provisions in the Agreement, Plan, or any amendment thereto.
12. Escrow Agent shall maintain the Escrow Account under its direct supervision and control.
13. A fiduciary relationship shall exist between Escrow Agent, and Purchaser. and Escrow Agent acknowledges its fiduciary and statutory obligations. in each case, to the extent applicable under GM- §§ 352(c)(2-b) and 352(h).
Escrow Rider