ÿWPCN yæòªEƒì2»fÏ2‰ˆ Ás’+IÁ÷Б£N2åy0Ñ èëOT)/•Lm–E—Ÿ¤L¢¡  f¥ ê×@1à XÈ&4 ›WG¢l(]á¾X'Áưf7sß´Z_0×QóËþ®Y°ÉrMÊÏ}fhoX™jYëœWñQŽiKðó2ÛŠßáÜ™z‚ÙÌEkúÜ¡Y‘®(D41¼`“ÐZ‡å4ô*=xúšBÁ?Â/Á^œæÝ6g çí97¥´ 'b£ž¤+güHÒbÔM娨øªuž'§@>³ëZì…Ô¶*PÔ}XÂ)Ô. ¦Z®_@3F)j…çæg”àØC ¥äæ.¡ªäìþ=®g6ó–l@ZÀçK-°”¬þ'sg¹ä2zÝñÜzƧ°ÕJ —ÕÕQâ½d˜çËJÍ™=µQÐKë÷àAb^{r}0îžhL¬VSöN«=t߀Cx[H_0ð³í•^–YUµ» ¡lq•Zò8ž5À躟“ ïv±šS2⇻XB’Иt˜¡‰ø½?–ùFšûû” DÚÚ?4‚¡¡1×N@(ÌN¥Ði»K­ ²·Ä·ŒêP7‘†`þqm$ÎõÚ ¨#ɸUN %Ï 0:ÕN^ w4!5 m7#|x˜EPSON Stylus COLOR 3000Œ”ŒŒŒŒŒ”0(  Z‹6Times New Roman RegularX(üœ$¡¡ÔUSUS.,Ôâ~2¸ ‚¢Œ/ê:i¢×+00ÿU‹ÿÀÀÀÝ ƒüœ!ÝÔUSUS.,ÔÝ  ÝÔ_ÔM€146-Contract€of€sale,€condominium€unit,€5-98€Ð ° ÐPrepared€by€the€Committee€on€Real€Property€Law€of€the€Association€of€the€Bar€of€the€City€ofÐ í ÐNew€York.€à ` àÐ ŠÚ Ðà  àÌNote:€This€form€is€intended€to€deal€with€matters€common€to€most€transactions€involving€the€saleÐ d´ Ðof€a€condominium€unit.€Provisions€should€be€of€added,€altered€or€deleted€to€suit€theÐ Q ¡ Ðcircumstances€of€a€particular€transaction.€No€representation€is€made€that€this€form€of€contractÐ > Ž Ðcomplies€with€Section€5-702€of€the€General€Obligations€Law€("Plain€Language€Law").Ð + { ÐÌCONSULT€YOUR€LAWYER€BEFORE€SIGNING€THIS€AGREEMENTÐ  U  ÐÌContract€of€Sale€-€Condominium€UnitÐ ß/  ÐÌAgreement€made€as€of€€à  àbetweenÐ ¹  ÐÌresiding€atÐ “ã  ÐÌandà  àà ` àÐ m½ Ðà  à("Seller")Ð Zª Ðresiding€atÐ G— Ðà  àà ` àà ¸ à("Purchaser")Ð 4„ Ðà  à1.€Unit:€Seller€agrees€to€sell€and€convey,€and€Purchaser€agrees€to€purchase,€Unit€No.Ð !q Ðà  à("Unit")€in€the€buildingÐ ^ Ð("Building")€known€as€à  àCondominium.€à  àà p à("Condominium")€and€located€atÐ ûK Ðà  àà ` àNew€York,€together€withÐ è8 Ðà  àpercent€undivided€interest€in€the€Common€Elements€(as€defined€in€para.€6)€appurtenantÐ Õ% Ðthereto,€all€upon€and€subject€to€the€terms€and€conditions€set€forth€herein.€The€Unit€shall€be€asÐ Â Ðdesignated€in€the€Declaration€of€Condominium€Ownership€(as€the€same€may€be€amended€fromÐ ¯ÿ Ðtime€to€time,€the€"Declaration")€of€the€Condominium,€recorded€in€à È àà  àà x àà Ð àÐ œì ÐCounty,€New€York€or€the€By-Laws€(as€the€same€may€be€amended€from€Ð ‰Ù Ðtime€to€time,€the€"By-Laws")€of€the€Condominium.Ð v Æ ÐÌÌÌà  à2.€Personal€Property:€(a)€The€sale€includes€all€of€Seller's€right,€title€and€interest,€if€any,€inÐ *$z" Ðand€to:Ð %g # Ðà  àÌà  à(i)€the€refrigerators,€freezers,€ranges,€ovens,€dishwashers,€washing€machines,€clothesÐ ñ&A"% Ðdryers,€cabinets€and€counters,€lighting€and€plumbing€fixtures,€air€conditioning€equipment,Ð Þ'.#& Ðvenetian€blinds,€shades,€screens,€storm€windows€and€other€window€treatments,€wall-to-wallÐ Ë($' Ðcarpeting,€bookshelves,€switchplates,€door€hardware,€built-ins€and€articles€of€property€andÐ ¸)%( Ðfixtures€attached€to€or€appurtenant€to€the€Unit,€except€those€listed€in€subpara.€2(b),€all€of€whichÐ ¥*õ%) Ðincluded€property€and€fixtures€are€represented€sented€to€be€owned€by€Seller,€free€and€clear€of€allÐ ’+â&* Ðliens€and€encumbrances€other€than€those€encumbrances€("Permitted€Exceptions")€set€forth€onÐ ,Ï'+ ÐSchedule€A€annexed€hereto€and€made€a€part€hereof€(strike€out€inapplicable€items);€andÐ l-¼(, Їà  à(ii)à ` àÐ ° ÐÌÌ€(b)€Excluded€from€this€sale€are:Ð wÇ Ðà  à(i)€furniture€and€furnishings€(other€than€as€specifically€provided€in€this€Contract);€andÐ d´ Ðà  à(ii)Ð Q ¡ ÐÌÌÌ(c)€The€property€referred€to€in€subpara.€2(a)(i)€and€(ii)€may€not€be€purchased€if€title€to€the€Unit€isÐ  U  Ðnot€conveyed€hereunder.Ð ò B  Ðà  àÌà  à3.€Purchase€Price:€(a)€The€purchase€price€("Purchase€Price")€isÐ Ì  Ð$€à  àà ` àà ¸ à,€payable€as€follows:Ð ¹  Ðà  à(i)€$à ` àà ¸ à("Downpayment")€on€the€Ð ¦ö  Ðsigning€of€this€Contract€by€check€subject€to€collection,€the€receipt€of€which€is€herebyÐ “ã  Ðacknowledged,€to€be€held€in€escrow€pursuant€to€para.€16;€andÐ €Ð Ðà  à(ii)€$€à ` àà ¸ àà  àconstituting€the€balance€Ð m½ Ðof€the€Purchase€Price,€by€certified€check€of€Purchaser€or€official€bank€check€(except€asÐ Zª Ðotherwise€provided€in€this€Contract)€on€the€delivery€of€the€deed€as€hereinafter€provided.Ð G— ÐÌ(b)€All€checks€in€payment€of€the€Purchase€Price€shall€represent€United€States€currency€and€beÐ !q Ðdrawn€on€or€issued€by€a€bank€or€trust€company€authorized€to€accept€deposits€in€New€York€State.Ð ^ ÐAll€checks€in€payment€of€the€Downpayment€shall€be€payable€to€the€order€of€Escrowee€(asÐ ûK Ðhereinafter€defined).€All€checks€in€payment€of€the€balance€of€the€Purchase€Price€shall€be€payableÐ è8 Ðto€the€order€of€Seller€(or€as€Seller€otherwise€directs€pursuant€to€subparas.€6(a)(ix)€or€19(b)).Ð Õ% ÐÌ(c)€Except€for€the€Downpayment€and€checks€aggregating€not€more€than€one-half€of€one€percentÐ ¯ÿ Ðof€the€Purchase€Price,€including€payment€for€closing€adjustments,€all€checks€delivered€byÐ œì ÐPurchaser€shall€be€certified€or€official€bank€checks€as€hereinabove€provided.Ð ‰Ù ÐÌà  à4.€Closing€of€Title:€The€closing€documents€referred€to€in€para.€6€shall€be€delivered,€andÐ c!³ Ðpayment€of€the€balance€of€the€Purchase€Price€shall€be€made,€at€the€closing€of€title€("Closing"),€toÐ P"   Ðbe€held€onà ` à€at€à ¸ àÐ =#! ÐM.,€at€the€offices€ofÐ *$z" Ðà  àÌÌor€at€the€office€of€Purchaser's€lending€institution€or€its€counsel;€provided,€however,€that€suchÐ ñ&A"% Ðoffice€is€located€in€either€the€City€or€County€in€which€either€(a)€Seller's€attorney€maintains€anÐ Þ'.#& Ðoffice€or€(b)€the€Unit€is€located.Ð Ë($' ÐÌà  à5.€Representations,€Warranties€and€Covenants:€Seller€represents,€warrants€and€covenantsÐ ¥*õ%) Ðthat:€€€€€€€€€€€€€€€€Ð ’+â&* Ð(a)€Seller€is€the€sole€owner€of€the€Unit€and€the€property€referred€to€in€subpara.€2(a),€and€SellerÐ ,Ï'+ Ðhas€the€full€right,€power€and€authority€to€sell,€covey€and€transfer€the€same;Ð l-¼(, Ї(b)€The€common€charges€(excluding€separately€billed€utility€charges)Ð ° Ðfor€the€Unit€on€the€date€hereof€are€$€à h àà À àper€month;Ð í ÐÌ(c)€Seller€has€not€received€any€written€notice€of€any€intended€assessment€or€increase€in€commonÐ wÇ Ðcharges€not€reflected€in€subpara.€5(b).€Purchaser€acknowledges€that€it€will€not€have€the€right€toÐ d´ Ðcancel€this€Contract€in€the€event€of€the€imposition€of€any€assessment€or€increase€in€commonÐ Q ¡ Ðcharges€after€the€date€hereof€of€which€Seller€has€not€heretofore€received€written€notice;Ð > Ž ÐÌ€(d)€The€real€estate€taxes€for€the€Unit€for€the€fiscal€year€ofÐ  h Ðà  àà ` àthrough€à  àare€$Ð  U  ÐÌ€(e)€Seller€is€not€a€"sponsor"€or€a€nominee€of€a€"sponsor"€under€any€plan€of€condominiumÐ ß/  Ðorganization€affecting€the€Unit;Ð Ì  ÐÌ€(f)€All€refrigerators,€freezers,€ranges,€dishwashers,€washing€machines,€clothes€dryers€and€airÐ ¦ö  Ðconditioning€equipment€included€in€this€sale€will€be€in€working€order€at€the€time€of€Closing;Ð “ã  ÐÌ€(g)€If€a€copy€is€attached€to€this€Contract,€the€copy€of€the€Certificate€of€Occupancy€covering€theÐ m½ ÐUnit€is€a€true€and€correct€copy;€andÐ Zª ÐÌ€(h)€Seller€is€not€a€"foreign€person"€as€defined€in€para.€18.€(If€inapplicable,€delete€and€provide€forÐ 4„ Ðcompliance€with€Code€Withholding€Section,€as€defined€in€para.€18.)Ð !q Ðà  àÌà  à6.€Closing€Documents:€(a)€At€the€Closing,€Seller€shall€deliver€to€Purchaser€the€following:Ð ûK Ðà  à(i)€Bargain€and€sale€deed€with€à À àà  à€€€€€€€€covenant€againstÐ è8 Ðgrantor's€acts€("Deed"),€complying€with€RPL€ðð339-0€and€containing€the€covenant€required€by€LLÐ Õ% Ððð€13(5),€conveying€to€Purchaser€title€to€the€Unit,€€together€with€its€undivided€interest€in€theÐ Â ÐCommon€Elements€(as€such€term€is€defined€in€the€Declaration€and€which€term€shall€be€deemedÐ ¯ÿ Ðto€include€Seller's€right,€title€and€interest€in€any€limited€common€elements€attributable€to€or€usedÐ œì Ðin€connection€with€the€Unit)€appurtenant€thereto,€free€and€clear€of€all€liens€and€encumbrancesÐ ‰Ù Ðother€than€Permitted€Exceptions.€The€Deed€shall€be€executed€and€acknowledged€by€Seller€and,€ifÐ v Æ Ðrequested€by€the€Condominium,€executed€and€acknowledged€by€Purchaser,€in€proper€statutoryÐ c!³ Ðform€for€recording;Ð P"   Ðà  à(ii)€If€a€corporation€and€if€required€pursuant€to€BCL€ðð€909,€Seller€shall€deliver€toÐ =#! ÐPurchaser€(1)€a€resolution€of€its€board€of€directors€authorizing€the€delivery€of€the€Deed€and€(2)€aÐ *$z" Ðcertificate€executed€by€an€officer€of€such€corporation€certifying€as€to€the€adoption€of€suchÐ %g # Ðresolution€and€setting€forth€facts€demonstrating€that€the€delivery€of€the€Deed€is€in€conformityÐ &T!$ Ðwith€the€requirements€of€BCL€ðð€909.€The€Deed€shall€also€contain€a€recital€sufficient€to€establishÐ ñ&A"% Ðcompliance€with€such€law;Ð Þ'.#& Ðà  à(iii)€A€waiver€of€right€of€first€refusal€of€the€board€of€managers€of€the€CondominiumÐ Ë($' Ð("Board")€if€required€in€accordance€with€para.€8;Ð ¸)%( Ðà  à(iv)€A€statement€by€the€Condominium€or€its€managing€agent€that€the€common€chargesÐ ¥*õ%) Ðand€any€assessments€then€due€and€a€payable€the€Condominium€have€been€paid€to€the€date€of€theÐ ’+â&* ÐClosing;Ð ,Ï'+ Ðà  à(v)€All€keys€to€the€doors€of,€and€mailbox€for,€the€Unit;Ð l-¼(, Ðà  à(vi)€Such€affidavits€and/or€other€evidence€as€the€title€company€("Title€Company")€fromÐ ° Ðwhich€Purchaser€has€ordered€a€title€insurance€report€and€which€is€authorized€to€do€business€inÐ í ÐNew€York€State€shall€reasonably€require€in€order€to€omit€from€its€title€insurance€policy€allÐ ŠÚ Ðexceptions€for€judgments,€bankruptcies€or€other€returns€against€Seller€and€persons€or€entitiesÐ wÇ Ðwhose€names€are€the€same€as€or€are€similar€to€Seller"s€name;Ð d´ Ðà  à(vii)€Official€New€York€State€Real€Property€Transfer€Gains€Tax€Tentative€AssessmentÐ Q ¡ Ðand€Return€(or,€if€applicable,€Official€Statement€of€No€Tax€Due)€duly€completed€by€the€NewÐ > Ž ÐYork€State€Department€of€Taxation€and€Finance€(or,€if€applicable,€a€duly€executed€andÐ + { Ðacknowledged€affidavit€of€Seller€in€form€required€pursuant€to€the€Gains€Tax€Law€(as€hereinafterÐ  h Ðdefined)€claiming€exemption€therefrom;Ð  U  Ðà  à(viii)€New€York€City€Real€Property€Transfer€Tax€Return,€if€applicable,€and€combinedÐ ò B  ÐReal€Property€Transfer€Gains€Tax€Affidavits,€prepared,€executed€and€acknowledged€by€Seller€inÐ ß/  Ðproper€form€for€submission;Ð Ì  Ðà  à(ix)€Checks€in€payment€of€all€applicable€real€property€transfer€taxes€except€a€transfer€taxÐ ¹  Ðwhich€by€law€is€primarily€imposed€on€the€purchaser€("Purchaser€Transfer€Tax")€and€any€NewÐ ¦ö  ÐYork€State€Real€Property€Transfer€Gains€Tax€("Gains€Tax")€due€in€connection€with€the€sale.€InÐ “ã  Ðlieu€of€delivery€of€such€checks,€Seller€shall€have€the€right,€upon€not€less€than€3€business€daysÐ €Ð Ðnotice€to€Purchaser,€to€cause€Purchaser€to€deliver€said€checks€at€the€Closing€and€to€credit€theÐ m½ Ðamount€thereof€against€the€balance€of€the€Purchase€Price.€Seller€shall€pay€the€additional€transferÐ Zª Ðtaxes€and€Gains€Taxes,€if€any,€payable€after€the€Closing€by€reason€of€the€conveyance€of€the€Unit,Ð G— Ðwhich€obligation€shall€survive€the€Closing;Ð 4„ Ðà  àÌà  à(x)€Certification€that€Seller€is€not€a€foreign€person€pursuant€to€para.€18.€(If€inapplicable,Ð ^ Ðdelete€and€provide€for€compliance€with€Code€Section,€as€defined€in€para.€18.);€andÐ ûK ÐÌà  à(xi)€Affidavit€that€a€single€station€smoke€detecting€alarm€device€is€installed€pursuant€toÐ Õ% ÐNew€York€Executive€Law€ðð378(5).Ð Â ÐÌ(b)€At€the€Closing,€Purchaser€shall€deliver€to€Seller€the€following:Ð œì ÐÌà  à(i)€Checks€in€payment€of€(y)€the€balance€of€the€Purchase€Price€in€accordance€withÐ v Æ Ðsubpara.€3(b)€and€(z)€any€Purchaser€Transfer€Tax;Ð c!³ ÐÌà  à(ii)€If€required€by€the€Declaration€or€By-Laws,€power€of€attorney€to€the€Board,€preparedÐ =#! Ðby€Seller,€in€the€form€required€by€the€Condominium.€The€power€of€attorney€shall€be€executedÐ *$z" Ðand€acknowledged€by€Purchaser€and,€after€being€recorded,€shall€be€sent€to€the€Condominium;Ð %g # ÐÌà  à(iii)€New€York€City€Real€Property€Transfer€Tax€Return€executed€and€acknowledged€byÐ ñ&A"% ÐPurchaser€and€an€Affidavit€in€Lieu€of€Registration€pursuant€to€New€York€Multiple€DwellingÐ Þ'.#& ÐLaw,€each€in€proper€form€for€submission,€if€applicable,€and€combined€Real€Property€TransferÐ Ë($' ÐGains€Tax€Affidavits;€andÐ ¸)%( ÐÌà  à(iv)€If€required,€New€York€State€Equalization€Return€executed€and€acknowledged€byÐ ’+â&* ÐPurchaser€in€proper€form€for€submission.Ð ,Ï'+ ÐÐ l-¼(, Ð(c)€It€is€a€condition€of€Purchaser's€obligation€to€close€title€hereunder€that:Ð ° ÐÌà  à(i)€All€notes€or€notices€of€violations€of€law€or€governmental€orders,€ordinances€orÐ ŠÚ Ðrequirements€affecting€the€Unit€and€noted€or€issued€by€any€governmental€department,€agency€orÐ wÇ Ðbureau€having€jurisdiction€which€were€noted€or€issued€on€or€prior€to€the€date€hereof€shall€haveÐ d´ Ðbeen€cured€by€Seller;Ð Q ¡ ÐÌà  à(ii)€Any€written€notice€to€Seller€from€the€Condominium€(or€its€duly€authorizedÐ + { Ðrepresentative)€that€the€Unit€is€in€violation€of€the€Declaration,€By-Laws€or€rules€and€regulationsÐ  h Ðof€the€Condominium€shall€have€been€cured;€andÐ  U  ÐÌà  à(iii)€The€Condominium€is€a€valid€condominium€created€pursuant€to€RPL€Art.€9-B€and€theÐ ß/  ÐTitle€Company€will€so€insure.Ð Ì  ÐÌà  à7.€Closing€Adjustments:€(a)€The€following€adjustments€shall€be€made€as€of€11:59€P.M.€ofÐ ¦ö  Ðthe€day€before€the€Closing:Ð “ã  ÐÌà  à(i)€Real€estate€taxes€and€water€charges€and€sewer€rents,€if€separately€assessed,€on€theÐ m½ Ðbasis€of€the€fiscal€period€for€which€assessed,€except€that€if€there€is€a€water€meter€with€respect€toÐ Zª Ðthe€Unit,€apportionment€shall€be€based€on€the€last€available€reading,€subject€to€adjustment€afterÐ G— Ðthe€Closing,€promptly€after€the€next€reading€is€available;€provided,€however,€that€in€the€eventÐ 4„ Ðreal€estate€taxes€have€not,€as€of€the€date€of€Closing,€been€separately€assessed€to€the€Unit,€realÐ !q Ðestate€taxes€shall€be€apportioned€on€the€same€basis€as€provided€in€the€Declaration€or€By-Laws€or,Ð ^ Ðin€the€absence€of€such€provision,€based€upon€the€Unit's€percentage€interest€in€the€CommonÐ ûK ÐElements;Ð è8 Ðà  àÌà  à(ii)€Common€charges€of€the€Condominium;€andÐ Â Ðà  àÌà  à(iii)€If€fuel€is€separately€stored€with€respect€to€the€Unit€only,€the€value€of€fuel€stored€withÐ œì Ðrespect€to€the€Unit€at€the€price€then€charged€by€Seller's€supplier€(as€determined€by€a€letter€orÐ ‰Ù Ðcertificate€to€be€obtained€by€Seller€from€such€supplier),€including€any€sales€taxes.Ð v Æ ÐÌ(b)€If€at€the€time€of€Closing€the€Unit€is€affected€by€an€assessment€which€is€or€may€becomeÐ P"   Ðpayable€in€installments,€then,€for€the€purposes€of€this€Contract,€only€the€unpaid€installmentsÐ =#! Ðwhich€are€then€due€shall€be€considered€due€and€are€to€be€paid€by€Seller€at€the€Closing.€AllÐ *$z" Ðsubsequent€installments€at€the€time€of€Closing€shall€be€the€obligation€of€Purchaser.Ð %g # Ðà  àÌ(c)€Any€errors€or€omissions€in€computing€closing€adjustments€shall€be€corrected.€This€subpara.Ð ñ&A"% Ð7(c)€shall€survive€the€Closing.Ð Þ'.#& Ðà  àÌ(d)€If€the€Unit€is€located€in€the€City€of€New€York,€the€"customs€in€respect€to€title€closings"Ð ¸)%( Ðrecommended€by€The€Real€Estate€Board€of€New€York,€Inc.,€as€amended€and€in€effect€on€the€dateÐ ¥*õ%) Ðof€Closing,€shall€apply€to€the€adjustments€and€other€matters€therein€mentioned,€except€asÐ ’+â&* Ðotherwise€provided€herein.Ð ,Ï'+ Ðà  àÐ l-¼(, Ðà  à8.€Right€of€First€Refusal:€If€so€provided€in€the€Declaration€or€By-Laws,€this€sale€is€subjectÐ ° Ðto€and€conditioned€upon€the€waiver€of€a€right€of€first€refusal€to€purchase€the€Unit€held€by€theÐ í ÐCondominium€and€exercisable€by€the€Board.€Seller€agrees€to€give€notice€promptly€to€the€BoardÐ ŠÚ Ðof€the€contemplated€sale€of€the€Unit€to€Purchaser,€which€notice€shall€be€given€in€accordanceÐ wÇ Ðwith€the€terms€of€the€Declaration€and€By-Laws,€and€Purchaser€agrees€to€provide€promptly€allÐ d´ Ðapplications,€information€and€references€reasonably€requested€by€the€Board.€If€the€Board€shallÐ Q ¡ Ðexercise€such€right€of€first€refusal,€Seller€shall€promptly€refund€to€Purchaser€the€DownpaymentÐ > Ž Ð(which€term,€for€all€purposes€of€this€Contract,€shall€be€deemed€to€include€interest,€if€any,€earnedÐ + { Ðthereon)€and€upon€the€making€of€such€refund€this€Contract€shall€be€deemed€cancelled€and€of€noÐ  h Ðfurther€force€or€effect€and€neither€party€shall€have€any€further€rights€against,€or€obligations€orÐ  U  Ðliabilities€to,€the€other€by€reason€of€this€Contract.€If€the€Board€shall€fail€to€exercise€such€right€ofÐ ò B  Ðfirst€refusal€within€the€time€and€in€the€manner€provided€for€in€the€Declaration€or€By-Laws€orÐ ß/  Ðshall€declare€in€writing€its€intention€not€to€exercise€such€right€of€first€refusal€(a€copy€of€whichÐ Ì  Ðwriting€shall€be€delivered€to€Purchaser€promptly€following€receipt€thereof),€the€parties€heretoÐ ¹  Ðshall€proceed€with€this€sale€in€accordance€with€the€provisions€of€this€Contract.Ð ¦ö  ÐÌà  à9.€Processing€Fee:€Seller€shall,€at€the€Closing,€pay€all€fees€and€charges€payable€to€theÐ €Ð ÐCondominium€(and/or€its€managing€agent)€in€connection€with€this€sale,€including,€withoutÐ m½ Ðlimitation,€any€processing€fee,€the€legal€fees,€if€any,€of€the€Condominium's€attorney€inÐ Zª Ðconnection€with€this€sale€and,€unless€otherwise€agreed€to€by€Seller€and€Purchaser€in€writing,€allÐ G— Ð"flip€taxes,"€transfer€or€entrance€fees€or€similar€charges,€if€any,€payable€to€or€for€theÐ 4„ ÐCondominium€or€otherwise€for€the€benefit€of€the€Condominium€unit€owners,€which€arise€byÐ !q Ðreason€of€this€sale.Ð ^ Ðà  àÌà  à10.€No€Other€Representations:€Purchaser€has€examined€and€is€satisfied€with€theÐ è8 ÐDeclaration,€By-Laws€and€rules€and€regulations€of€the€Condominium,€or€has€waived€theÐ Õ% Ðexamination€thereof.€Purchaser€has€inspected€the€Unit,€its€fixtures,€appliances€and€equipmentÐ Â Ðand€the€personal€property,€if€any,€included€in€this€sale,€as€well€as€the€Common€Elements€of€theÐ ¯ÿ ÐCondominium,€and€knows€the€condition€thereof€and,€subject€to€subpara.€5(f),€agrees€to€acceptÐ œì Ðthe€same€"as€is,"€i.e.,€in€the€condition€they€are€in€on€the€date€hereof,€subject€to€normal€use,€wearÐ ‰Ù Ðand€tear€between€the€date€hereof€and€the€Closing.€Purchaser€has€examined€or€waivedÐ v Æ Ðexamination€of€the€last€audited€financial€statements€of€the€Condominium,€and€has€considered€orÐ c!³ Ðwaived€consideration€of€all€other€matters€pertaining€to€this€Contract€and€to€the€purchase€to€beÐ P"   Ðmade€hereunder,€and€does€not€rely€on€any€representations€made€by€any€broker€or€by€Seller€orÐ =#! Ðanyone€acting€or€purporting€to€act€on€behalf€of€Seller€as€to€any€matters€which€might€influence€orÐ *$z" Ðaffect€the€decision€to€execute€this€Contract€or€to€buy€the€Unit,€or€said€personal€property,€exceptÐ %g # Ðthose€representations€and€warranties€which€are€specifically€set€forth€in€this€Contract.Ð &T!$ Ðà  àÌà  à11.€Possession:€Seller€shall,€prior€to€the€Closing,€remove€from€the€Unit€all€furniture,Ð Þ'.#& Ðfurnishings€and€other€personal€property€not€included€in€this€sale,€shall€repair€any€damage€causedÐ Ë($' Ðby€such€removal,€and€shall€deliver€exclusive€possession€of€the€Unit€at€the€Closing,€vacant,Ð ¸)%( Ðbroom-clean€and€free€of€tenancies€or€other€rights€of€use€or€possession.Ð ¥*õ%) Ðà  àÌà  à12.€Access:€Seller€shall€permit€Purchaser€and€its€architect,€decorator€or€other€authorizedÐ ,Ï'+ Ðpersons€to€have€the€right€of€access€to€the€Unit€between€the€date€hereof€and€the€Closing€for€theÐ l-¼(, Ðpurpose€of€inspecting€the€same€and€taking€measurements,€at€reasonable€times€and€uponÐ ° Ðreasonable€prior€notice€to€Seller€(by€telephone€or€otherwise).€Further,€Purchaser€shall€have€theÐ í Ðright€to€inspect€the€Unit€at€a€reasonable€time€during€the€24-hour€period€immediately€precedingÐ ŠÚ Ðthe€Closing.Ð wÇ Ðà  àÌà  à13.€Defaults€and€Remedies:€(a)€If€Purchaser€defaults€hereunder,€Seller's€sole€remedy€shallÐ Q ¡ Ðbe€to€retain€the€Downpayment€as€liquidated€damages,€it€being€agreed€that€Seller's€damages€inÐ > Ž Ðcase€of€Purchaser's€default€might€be€impossible€to€ascertain€and€that€the€DownpaymentÐ + { Ðconstitutes€a€fair€and€reasonable€amount€of€damages€under€the€circumstances€and€is€not€aÐ  h Ðpenalty.Ð  U  ÐÌ(b)€If€Seller€defaults€hereunder,€Purchaser€shall€have€such€remedies€as€Purchaser€shall€beÐ ß/  Ðentitled€to€at€law€or€in€equity,€including,€but€not€limited€to,€specific€performance.Ð Ì  Ðà  àÌà  à14.€Notices:€Any€notice,€request€or€other€communication€("Notice")€given€or€madeÐ ¦ö  Ðhereunder€(except€for€the€notice€required€by€para.€12),€shall€be€in€writing€and€either€(a)€sent€byÐ “ã  Ðany€of€the€parties€hereto€or€their€respective€attorneys,€by€registered€or€certified€mail,€returnÐ €Ð Ðreceipt€requested,€postage€prepaid,€or€(b)€delivered€in€person€or€by€overnight€courier,€withÐ m½ Ðreceipt€acknowledged,€to€the€address€given€at€the€beginning€of€this€Contract€for€the€party€toÐ Zª Ðwhom€the€Notice€is€to€be€given,€or€to€such€other€address€for€such€party€as€said€party€shallÐ G— Ðhereafter€designate€by€Notice€given€to€the€other€party€pursuant€to€this€para.€14.€Each€NoticeÐ 4„ Ðmailed€shall€be€deemed€given€on€the€third€business€day€following€the€date€of€mailing€the€sameÐ !q Ðand€each€Notice€delivered€in€person€or€by€overnight€courier€shall€be€deemed€given€whenÐ ^ Ðdelivered.Ð ûK Ðà  àÌà  à15.€Purchaser's€Lien:€The€Downpayment€and€all€other€sums€paid€on€account€of€thisÐ Õ% ÐContract€and€the€reasonable€expenses€of€the€examination€of€title€to,€and€departmental€violationÐ Â Ðsearches€in€respect€of,€the€Unit€are€hereby€made€a€lien€upon€the€Unit,€but€such€lien€shall€notÐ ¯ÿ Ðcontinue€after€default€by€Purchaser€hereunder.Ð œì Ðà  àÌà  à16.€Downpayment€in€Escrow:€(a)€Seller's€attorney€("Escrowee")€shall€hold€theÐ v Æ ÐDownpayment€for€Seller's€account€in€escrow€in€a€segregated€bank€account€at€the€depositoryÐ c!³ Ðidentified€at€the€end€of€this€Contract€until€Closing€or€sooner€termination€of€this€Contract€andÐ P"   Ðshall€pay€over€or€apply€the€Downpayment€in€accordance€with€the€terms€of€this€para.€16.Ð =#! ÐEscrowee€shall€(not)€(Delete€if€inapplicable)€hold€the€Downpayment€in€an€interest-bearingÐ *$z" Ðaccount€for€the€benefit€of€the€parties.€If€interest€is€held€for€the€benefit€of€the€parties,€it€shall€beÐ %g # Ðpaid€to€the€party€entitled€to€the€Down-payment€and€the€party€receiving€the€interest€shall€pay€anyÐ &T!$ Ðincome€taxes€thereon.€If€interest€is€not€held€for€the€benefit€of€the€parties,€the€Down-paymentÐ ñ&A"% Ðshall€be€placed€in€an€IOLA€account€or€as€otherwise€permitted€or€required€by€law.€The€SocialÐ Þ'.#& ÐSecurity€or€Federal€Identification€numbers€of€the€parties€shall€be€furnished€to€Escrowee€uponÐ Ë($' Ðrequest.€At€closing,€the€Downpayment€shall€be€paid€by€Escrowee€to€Seller.€If€for€any€reasonÐ ¸)%( ÐClosing€does€not€occur€and€either€party€gives€Notice€(as€defined€in€paragraph€14)€to€EscroweeÐ ¥*õ%) Ðdemanding€payment€of€the€Downpayment,€Escrowee€shall€give€prompt€Notice€to€the€other€partyÐ ’+â&* Ðof€such€demand.€If€Escrowee€does€not€receive€Notice€of€objection€from€such€other€party€to€theÐ ,Ï'+ Ðproposed€payment€within€10€business€days€after€the€giving€of€such€Notice,€Escrowee€is€herebyÐ l-¼(, Ðauthorized€and€directed€to€make€such€payment.€If€Escrowee€does€receive€such€Notice€ofÐ ° Ðobjection€within€such€10€day€period€or€if€for€any€other€reason€Escrowee€in€good€faith€shall€electÐ í Ðnot€to€make€such€payment,€Escrowee€shall€continue€to€hold€such€amount€until€otherwise€directedÐ ŠÚ Ðby€Notice€from€the€parties€to€this€Contract€or€a€final,€nonappealable€judgment,€order€or€decree€ofÐ wÇ Ða€court.€However,€Escrowee€shall€have€the€right€at€any€time€to€deposit€the€Downpayment€withÐ d´ Ðthe€clerk€of€a€court€in€the€county€in€which€the€Unit€is€located€and€shall€give€Notice€of€suchÐ Q ¡ Ðdeposit€to€Seller€and€Purchaser.€Upon€such€deposit€or€other€disbursement€in€accordance€with€theÐ > Ž Ðterms€of€this€para.€16,€Escrowee€shall€be€relieved€and€discharged€of€all€further€obligations€andÐ + { Ðresponsibilities€hereunder.Ð  h ÐÌ(b)€The€parties€acknowledge€that,€although€Escrowee€is€holding€the€Downpayment€for€Seller'sÐ ò B  Ðaccount,€for€all€other€purposes€Escrowee€is€acting€solely€as€a€stakeholder€at€their€request€and€forÐ ß/  Ðtheir€convenience€and€that€Escrowee€shall€not€be€liable€to€either€party€for€any€act€or€omission€onÐ Ì  Ðits€part€unless€taken€or€suffered€in€bad€faith€or€in€willful€disregard€of€this€Contract€or€involvingÐ ¹  Ðgross€negligence€on€the€part€of€Escrowee.€Seller€and€Purchaser€jointly€and€severally€agree€toÐ ¦ö  Ðdefend,€indemnify€and€hold€Escrowee€harmless€from€and€against€all€costs,€claims€and€expensesÐ “ã  Ð(including€reasonable€attorneys'€fees)€incurred€in€connection€with€the€performance€of€Escrowee'sÐ €Ð Ðduties€hereunder,€except€with€respect€to€actions€or€omissions€taken€or€suffered€by€Escrowee€inÐ m½ Ðbad€faith€or€in€willful€disregard€of€this€Contract€or€involving€gross€negligence€on€the€part€ofÐ Zª ÐEscrowee.Ð G— ÐÌÌ(c)€Escrowee€may€act€or€refrain€from€acting€in€respect€of€any€matter€referred€to€herein€in€fullÐ ^ Ðreliance€upon€and€with€the€advice€of€counsel€which€may€be€selected€by€it€(including€any€memberÐ ûK Ðof€its€firm)€and€shall€be€fully€protected€in€so€acting€or€refraining€from€action€upon€the€advice€ofÐ è8 Ðsuch€counsel.Ð Õ% Ðà  àÌ(d)€Escrowee€acknowledges€receipt€of€the€Downpayment€by€check€subject€to€collection€andÐ ¯ÿ ÐEscrowee's€agreement€to€the€provisions€of€this€para.€16€by€signing€in€the€place€indicated€in€thisÐ œì ÐContract.Ð ‰Ù ÐÌ(e)€Escrowee€or€any€member€of€its€firm€shall€be€permitted€to€act€as€counsel€for€Seller€in€anyÐ c!³ Ðdispute€as€to€the€disbursement€of€the€Downpayment€or€any€other€dispute€between€the€partiesÐ P"   Ðwhether€or€not€Escrowee€is€in.€possession€of€the€Downpayment€and€continues€to€act€asÐ =#! ÐEscrowee.Ð *$z" ÐÌà  à17.€New€York€State€Gains€Tax:€(a)€Seller€and€Purchaser€agree€to€comply€in€a€timelyÐ &T!$ Ðmanner€with€the€requirements€of€article€31-B€of€the€Tax€Law€and€the€regulations€applicableÐ ñ&A"% Ðthereto,€as€the€same€from€time€to€time€may€be€amended€(collectively,€the€"Gains€Tax€Law").Ð Þ'.#& ÐPurchaser€agrees€to€deliver€to€Seller€a€duly€executed€and€acknowledged€TransfereeÐ Ë($' ÐQuestionnaire€simultaneously€with€the€execution€of€this€Contract€or€within€5€business€days€afterÐ ¸)%( Ðsubsequent€written€request€from€Seller€or€Seller's€attorney.€At€the€Closing,€Seller€shall€deliver€(i)Ð ¥*õ%) Ðan€Official€Statement€of€No€Tax€Due€or€(ii)€an€Official€Tentative€Assessment€and€ReturnÐ ’+â&* Ðaccompanied€by€a€certified€or€official€bank€check€drawn€on€any€banking€institution€described€inÐ ,Ï'+ Ðsubpara.€3(b),€payable€to€the€order€of€the€State€Tax€Commission,€in€the€amount€of€the€tax€shownÐ l-¼(, Ðto€be€due€thereon,€or€(iii)€if€applicable,€a€duly€executed€and€acknowledged€affidavit€in€formÐ ° Ðpermitted€under€the€Gains€Tax€Law€claiming€exemption€therefrom.Ð í ÐÌ(b)€Seller€agrees€(i)€to€pay€promptly€any€tax€due€under€the€Gains€Tax€Law€and€any€interest€andÐ wÇ Ðpenalties€thereon€which€may€be€assessed€or€due€after€the€Closing,€(ii)€to€indemnify€and€saveÐ d´ ÐPurchaser€harmless€from€and€against€any€of€the€foregoing€and€-€any€cost,€claim€and€expenseÐ Q ¡ Ð(including€reasonable€attorneys'€fees)€incurred€by€Purchaser€by€reason€of€the€non-paymentÐ > Ž Ðthereof,€and€(iii)€to€make€any€other€payments€and€execute,€acknowledge€and€deliver€such€furtherÐ + { Ðdocuments€as€may€be€necessary€to€comply€with€the€Gains€Tax€Law.Ð  h Ðà  àÌ(c)€The€obligations€under€this€para.€17€shall€survive€the€Closing.Ð ò B  Ðà  àÌà  à18.€FIRPTA:€Seller€represents€and€warrants€to€Purchaser€that€Seller€is€not€a€"foreignÐ Ì  Ðperson"€as€defined€in€IRC€ðð€1445,€as€amended,€and€the€regulations€issued€thereunder€("CodeÐ ¹  ÐWithholding€Section").€At€the€Closing€Seller€shall€deliver€to€Purchaser€a€certification€stating€thatÐ ¦ö  ÐSeller€is€not€a€foreign€person€in€the€form€then€required€by€the€Code€Withholding€Section.€In€theÐ “ã  Ðevent€Seller€fails€to€deliver€the€aforesaid€certification€or€in€the€event€that€Purchaser€is€notÐ €Ð Ðentitled€under€the€Code€Withholding€Section€to€rely€on€such€certification,€Purchaser€shall€deductÐ m½ Ðand€withhold€from€the€Purchase€Price€a€sum€equal€to€10%€thereof€and€shall€at€Closing€remit€theÐ Zª Ðwithheld€amount€with€the€required€forms€to€the€Internal€Revenue€Service.Ð G— ÐÌà  à19.€Title€Report;€Acceptable€Title:€(a)€Purchaser€shall,€promptly€after€the€date€hereof,€orÐ !q Ðafter€receipt€of€the€mortgage€commitment€letter,€if€applicable,€order€a€title€insurance€report€fromÐ ^ Ðthe€Title€Company.€Promptly€after€receipt€of€the€title€report€and€thereafter€of€any€continuationsÐ ûK Ðthereof€and€supplements€thereto,€Purchaser€shall€forward€a€copy€of€each€such€report,Ð è8 Ðcontinuation€or€supplement€to€the€attorney€for€Seller.€Purchaser€shall€further€notify€Seller'sÐ Õ% Ðattorney€of€any€other€objections€to€title€not€reflected€in€such€title€report€of€which€PurchaserÐ Â Ðbecomes€aware€following€the€delivery€of€such€report,€reasonably€promptly€after€becoming€awareÐ ¯ÿ Ðof€such€objections€ections.Ð œì ÐÌ(b)€Any€unpaid€taxes,€assessments,€water€charges€and€sewer€rents,€together€with€the€interest€andÐ v Æ Ðpenalties€thereon€to€a€date€not€less€than€two€days€following€the€date€of€Closing,€and€any€otherÐ c!³ Ðliens€and€encumbrances€which€Seller€is€obligated€to€pay€and€discharge€or€which€are€againstÐ P"   Ðcorporations,€estates€or€other€persons€in€the€chain€of€title,€together€with€the€cost€of€recording€orÐ =#! Ðfiling€any€instruments€necessary€to€discharge€such€liens€and€encumbrances€of€record,€may€beÐ *$z" Ðpaid€out€of€the€proceeds€of€the€monies€payable€at€the€Closing€if€Seller€delivers€to€Purchaser€atÐ %g # Ðthe€Closing€official€bills€for€such€taxes,€assessments,€water€charges,€sewer€rents,€interest€andÐ &T!$ Ðpenalties€and€instruments€in€recordable€form€sufficient€to€discharge€any€other€liens€andÐ ñ&A"% Ðencumbrances€of€record.€Upon€request€made€not€less€that€3€business€days€before€the€Closing,Ð Þ'.#& ÐPurchaser€shall€provide€at€the€Closing€separate€checks€for€the€foregoing€payable€to€the€order€ofÐ Ë($' Ðthe€holder€of€any€such€lien,€charge€or€encumbrance€and€otherwise€complying€with€subpara.€3(b).Ð ¸)%( ÐIf€the€Title€Company€is€willing€to€insure€Purchaser€that€such€charges,€liens€and€encumbrancesÐ ¥*õ%) Ðwill€not€be€collected€out€of€or€enforced€against€the€Unit€and€is€willing€to€insure€the€lien€ofÐ ’+â&* ÐPurchaser's€Institutional€Lender€(as€hereinafter€defined)€free€and€clear€of€any€such€charges,€liensÐ ,Ï'+ Ðand€encumbrances,€then€Seller€shall€have€the€right€in€lieu€of€payment€and€discharge€to€depositÐ l-¼(, Ðwith€the€Title€Company€such€funds€or€to€give€such€assurances€or€to€pay€such€special€orÐ ° Ðadditional€premiums€as€the€Title€Company€may€require€in€order€to€so€insure.€In€such€case€theÐ í Ðcharges,€liens€and€encumbrances€with€respect€to€which€the€Title€Company€has€agreed€so€toÐ ŠÚ Ðinsure€shall€not€be€considered€objections€to€title.Ð wÇ ÐÌ(c)€Seller€shall€convey€and€Purchaser€shall€accept€fee€simple€title€to€the€Unit€in€accordance€withÐ Q ¡ Ðthe€terms€of€this€Contract,€subject€only€to:€(a)€the€Permitted€Exceptions€and€(b)€such€otherÐ > Ž Ðmatters€as€(i)€the€Title€Company€or€any€other€title€insurer€licensed€to€do€business€by€the€State€ofÐ + { ÐNew€York€shall€be€willing,€without€special€or€additional€premium,€to€omit€as€exceptions€toÐ  h Ðcoverage€or€to€except€with€insurance€against€collection€out€of€or€enforcement€against€the€UnitÐ  U  Ðand€(ii)€shall€be€accepted€by€any€lender€which€has€committed€in€writing€to€provide€mort€gageÐ ò B  Ðfinancing€to€Purchaser€for€the€purchase€of€the€Unit€("Purchaser's€Institutional€Lender"),€exceptÐ ß/  Ðthat€if€such€acceptance€by€Purchaser's€Institutional€Lender€is€unreasonably€withheld€or€delayed,Ð Ì  Ðsuch€acceptance€shall€be€deemed€to€have€been€given.Ð ¹  ÐÌ(d)€Notwithstanding€any€contrary€provisions€in€this€Contract,€express€or€implied,€or€any€contraryÐ “ã  Ðrule€of€law€or€custom,€if€Seller€shall€be€unable€to€convey€the€Unit€in€accordance€with€thisÐ €Ð ÐContract€(provided€that€Seller€shall,€release,€discharge€or€otherwise€cure€at€or€prior€to€ClosingÐ m½ Ðany€matter€created€by€Seller€after€the€date€hereof€and€any€existing€mortgage,€unless€this€sale€isÐ Zª Ðsubject€to€it)€and€if€Purchaser€elects€not€to€complete€this€transaction€without€abatement€of€theÐ G— ÐPurchase€Price,€the€sole€obligation€and€liability€of€Seller€shall€be€to€refund€the€Downpayment€toÐ 4„ ÐPurchaser,€together€with€the€reasonable€cost€of€the€examination€of€title€to,€and€departmentalÐ !q Ðviolation€searches€in€respect€of,€the€Unit,€and€upon€the€making€of€such€refund€and€payment,€thisÐ ^ ÐContract€shall€be€deemed€cancelled€and€of€no€further€force€or€effect€and€neither€party€shall€haveÐ ûK Ðany€further€rights€against,€or€obligations€or€liabilities€to,€the€other€by€reason€of€this€Contract.Ð è8 ÐHowever,€nothing€contained€in€this€subpara.€19(d)€shall€be€construed€to€relieve€Seller€fromÐ Õ% Ðliability€due€to€a€willful€default.Ð Â ÐÌà  à20.€Risk€of€Loss;€Casualty:€(a)€The€risk€of€loss€or€damage€to€the€Unit€or€the€personalÐ œì Ðproperty€included€in€this€sale,€by€fire€or€other€casualty,€until€the€earlier€of€the€Closing€orÐ ‰Ù Ðpossession€of€the€Unit€by€Purchaser,€is€assumed€by€Seller,€but€without€any€obligation€of€Seller€toÐ v Æ Ðrepair€or€replace€any€such€loss€or€damage€unless€Seller€elects€to€do€so€as€hereinafter€provided.Ð c!³ ÐSeller€shall€notify€Purchaser€of€the€occurrence€of€any€such€loss€or€damage€to€the€Unit€or€theÐ P"   Ðpersonal€property€included€in€this€sale€within€10€days€after€such€occurrence€or€by€the€date€ofÐ =#! ÐClosing,€whichever€first€occurs,€and€by€such€notice€shall€state€whether€or€not€Seller€elects€toÐ *$z" Ðrepair€or€restore€the€Unit€and/or€the€personal€property,€as€the€case€may€be.€If€Seller€elects€toÐ %g # Ðmake€such€repairs€and€restorations,€Seller's€notice€shall€set€forth€an€adjourned€date€for€theÐ &T!$ ÐClosing,€which€shall€be€not€more€than€60€days€after€the€date€of€the€giving€of€Seller's€notice.€IfÐ ñ&A"% ÐSeller€either€does€not€elect€to€do€so€or,€having€elected€to€make€such€repairs€and€restorations,€failsÐ Þ'.#& Ðto€complete€the€same€on€or€before€said€adjourned€date€for€the€Closing,€Purchaser€shall€have€theÐ Ë($' Ðfollowing€options:Ð ¸)%( Ðà  àÌà  à(i)€To€declare€this€Contract€cancelled€and€of€no€further€force€or€effect€and€receive€aÐ ’+â&* Ðrefund€of€the€Downpayment€in€which€event€neither€party€shall€thereafter€have€any€further€rightsÐ ,Ï'+ Ðagainst,€or€obligations€or€liabilities€to,€the€other€by€reason€of€this€Contract;€orÐ l-¼(, Ðà  àÌà  à(ii)€To€complete€the€purchase€in€accordance€with€this€Contract€without€reduction€in€theÐ í ÐPurchase€Price,€except€as€provided€in€the€next€sentence.€If€Seller€carries€hazard€insuranceÐ ŠÚ Ðcovering€such€loss€or€damage,€Seller€shall€turn€over€to€Purchaser€at€the€Closing€the€net€proceedsÐ wÇ Ðactually€collected€by€Seller€under€the€provisions€of€such€hazard€insurance€policies€to€the€extentÐ d´ Ðthat€they€are€attributable€to€loss€of€or€damage€to€any€property€included€in€this€sale,€less€any€sumsÐ Q ¡ Ðtheretofore€expended€by€Seller€in€repairing€or€replacing€such€loss€or€damage€or€in€collectingÐ > Ž Ðsuch€proceeds;€and€Seller€shall€assign€(without€recourse€to€Seller)€Seller's€right€to€receive€anyÐ + { Ðadditional€insurance€proceeds€which€are€attributable€to€the€loss€of€or€damage€to€any€propertyÐ  h Ðincluded€in€this€sale.Ð  U  ÐÌ(b)€If€Seller€does€not€elect€to€make€such€repairs€and€restorations,€Purchaser€may€exercise€theÐ ß/  Ðresulting€option€under€(i)€or€(ii)€of€(a)€above€only€by€notice€given€to€Seller€within€10€days€afterÐ Ì  Ðreceipt€of€Seller's€notice.€If€Seller€elects€to€make€such€repairs€and€restorations€and€fails€toÐ ¹  Ðcomplete€the€same€on€or€before€the€adjourned€closing€date,€Purchaser€may€exercise€either€of€theÐ ¦ö  Ðresulting€options€within€10€days€after€the€adjourned€closing€date.Ð “ã  ÐÌ(c)€In€the€event€of€any€loss€of€or€damage€to€the€Common€Elements€which€materially€andÐ m½ Ðadversely€affects€access€to€or€use€of€the€Unit,€arising€after€the€date€of€this€Contract€but€prior€toÐ Zª Ðthe€Closing,€Seller€shall€notify€Purchaser€of€the€occurrence€thereof€within€10€days€after€suchÐ G— Ðoccurrence€or€by€the€date€of€Closing,€whichever€occurs€first,€in€which€event€Purchaser€shall€haveÐ 4„ Ðthe€following€options:Ð !q Ðà  àÌà  à(i)€To€complete€the€purchase€in€accordance€with€this€Contract€without€reduction€in€theÐ ûK ÐPurchase€Price;€orÐ è8 Ðà  àÌà  à(ii)€To€adjourn€the€Closing€until€the€first€to€occur€of€(1)€completion€of€the€repair€andÐ Â Ðrestoration€of€the€loss€or€damage€to€the€point€that€there€is€no€longer€a€materially€adverse€effectÐ ¯ÿ Ðon€the€access€to€or€use€of€the€Unit€or€(2)€the€60th€day€after€the€date€of€the€giving€of€Seller'sÐ œì Ðaforesaid€notice.€In€the€event€Purchaser€elects€to€adjourn€the€Closing€as€aforesaid€and€such€lossÐ ‰Ù Ðor€damage€is€not€so€repaired€and€restored€within€60€days€after€the€date€of€the€giving€of€Seller'sÐ v Æ Ðaforesaid€notice,€then€Purchaser€shall€have€the€right€either€to€(x)€complete€the€purchase€inÐ c!³ Ðaccordance€with€this€Contract€without€reduction€in€the€Purchase€Price€or€(y)€declare€thisÐ P"   ÐContract€cancelled€and€of€no€further€force€or€effect€and€receive€a€refund€of€the€Downpayment,€inÐ =#! Ðwhich€latter€event€neither€party€shall€thereafter€have€any€further€rights€against,€or€obligations€orÐ *$z" Ðliabilities€to,€the€other€by€reason€of€this€Contract.Ð %g # Ðà  àÌ(d)€In€the€event€of€any€loss€of€or€damage€to€the€Common€Elements€which€does€not€materiallyÐ ñ&A"% Ðand€adversely€affect€access€to€or€use€of€the€Unit,€Purchaser€shall€accept€title€to€the€Unit€inÐ Þ'.#& Ðaccordance€with€this€Contract€without€abatement€of€the€Purchase€Price.Ð Ë($' ÐÌà  à21.€Internal€Revenue€Service€Reporting€Requirement:€Each€party€shall€execute,Ð ¥*õ%) Ðacknowledge€and€deliver€to€the€other€party€such€instruments,€and€take€such€other€actions,€as€suchÐ ’+â&* Ðother€party€may€reasonably€request€in€order€to€comply€with€IRC€ðð€6045(e),€as€amended,€or€anyÐ ,Ï'+ Ðsuccessor€provision€or€any€regulations€promulgated€pursuant€thereto,€insofar€as€the€sameÐ l-¼(, Ðrequires€reporting€of€information€in€respect€of€real€estate€transactions.€The€provisions€of€thisÐ ° Ðpara.€21€shall€survive€the€Closing.€The€parties€designate€Ð í ÐÌÌà  àas€the€attorney€responsible€for€reporting€this€information€as€required€by€law.Ð d´ ÐÌà  à22.€Broker:€Seller€and€Purchaser€represent€and€warrant€to€each€other€that€the€only€realÐ > Ž Ðestate€broker€with€whom€they€have€dealt€in€connection€with€this€Contract€and€the€transaction€setÐ + { Ðforth€herein€isÐ  h ÐÌÌand€that€they€know€of€no€other€real€estate€broker€who€has€claimed€or€may€have€the€right€to€claimÐ ß/  Ða€commission€in€connection€with€this€transaction.€The€commission€of€such€real€estate€brokerÐ Ì  Ðshall€be€paid€by€Seller€pursuant€to€separate€agreement.€If€no€real€estate€broker€is€specified€above,Ð ¹  Ðthe€parties€acknowledge€that€this€Contract€was€brought€about€by€direct€negotiation€betweenÐ ¦ö  ÐSeller€and€Purchaser€and€each€represents€to€the€other€that€it€knows€of€no€real€estate€brokerÐ “ã  Ðentitled€to€a€commission€in€connection€with€this€transaction.€Seller€and€Purchaser€shallÐ €Ð Ðindemnify€and€defend€each€other€against€any€costs,€claims€or€expenses€(including€reasonableÐ m½ Ðattorneys'€fees)€arising€out€of€the€breach€on€their€respective€parts€of€any€representation,€€warrantyÐ Zª Ðor€agreement€contained€in€this€para.€22.€The€provisions€of€this€para.€22€shall€survive€the€ClosingÐ G— Ðor,€if€the€Closing€does€not€occur,€the€termination€of€this€Contract.Ð 4„ Ðà  à23.€Mortgage€Contingency:€(Delete€if€inapplicable)€(a)€The€obligations€of€PurchaserÐ !q Ðhereunder€are€conditioned€upon€issuance€on€or€beforeà p à(the€"Com-Ð ^ Ðà  à(the€"Commitment€Date")€of€a€written€commitment€from€any€Institutional€LenderÐ ûK Ðpursuant€to€which€such€Institutional€Lender€agrees€to€make€a€loan,€other€than€a€VA,€FHA€orÐ è8 Ðother€governmentally€insured€loan€to€Purchaser,€at€Purchaser's€sole€cost€and€expense,€€of€$Ð Õ% Ðà  àà ` àÌor€such€lesser€sum€as€Purchaser€shall€be€willing€to€accept,€at€the€prevailing€fixed€rate€of€interestÐ ¯ÿ Ðnot€to€exceed€à ` àor€initial€adjustment€rate€of€interest€not€to€exceedà È àfor€a€term€of€at€least€à Ð àyearsÐ œì Ðand€on€other€customary€commitment€terms,€whether€or€not€conditioned€upon€any€factors€otherÐ ‰Ù Ðthan€an€appraisal€satisfactory€to€the€Institutional€Lender,€secured€by€a€first€mortgage€on€the€UnitÐ v Æ Ðtogether€with€its€undivided€interest€in€the€Common€Elements.€Purchaser€shall€(i)€make€promptÐ c!³ Ðapplication€to€an€Institutional€Lender€for€such€mortgage€loan,€(ii)€furnish€accurate€and€completeÐ P"   Ðinformation€on€Purchaser€and€members-€of€Purchaser's€family,€as€required,€(iii)€pay€all€fees,Ð =#! Ðpoints€and€charges€required€in€connection€with€such€application€and€loan,€(iv)€pursue€suchÐ *$z" Ðapplication€with€diligence,€(v)€cooperate€in€good€faith€with€such€Institutional€Lender€to€the€endÐ %g # Ðof€securing€such€first€mortgage€loan€and€(vi)€promptly€give€Notice€to€Seller€of€the€name€andÐ &T!$ Ðaddress€of€each€Institutional€Lender€to€which€Purchaser€has€made€such€application.€PurchaserÐ ñ&A"% Ðshall€comply€with€all€requirements€of€such€commitment€(or€of€any€commitment€accepted€byÐ Þ'.#& ÐPurchaser)€and€shall€furnish€Seller€with€a€copy€thereof€promptly€after€receipt€thereof.€If€suchÐ Ë($' Ðcommitment€is€not€issued€on€or€before€the€Commitment€Date,€then,€unless€Purchaser€hasÐ ¸)%( Ðaccepted€a€commitment€that€does€not€comply€with€the€requirements€set€forth€above,€PurchaserÐ ¥*õ%) Ðmay€cancel€this€Contract€by€giving€Notice€to€Seller€within€5€business€days€after€the€CommitmentÐ ’+â&* ÐDate,€in€which€case€this€Contract€shall€be€deemed€cancelled€and€thereafter€neither€party€shallÐ ,Ï'+ Ðhave€any€further€rights€against,€or€obligations€or€liabilities€to,€the€other€by€reason€of€this€ContractÐ l-¼(, Ðexcept€that€the€Downpayment€shall€be€promptly€refunded€to€Purchaser€and€except€as€set€forth€inÐ ° Ðpara.€22.€If€Purchaser€fails€to€give€Notice€of€cancellation€or€if€Purchaser€shall€accept€aÐ í Ðcommitment€that€does€not€comply€with€the€terms€set€forth€above,€then€Purchaser€shall€beÐ ŠÚ Ðdeemed€to€have€waived€Purchaser's€right€to€cancel€this€Contract€and€to€receive€a€refund€of€theÐ wÇ ÐDownpayment€by€reason€of€the€contingency€contained€in€this€para.€23.Ð d´ ÐÌ(b)€For€purposes€of€this€Contract,€an€"Institutional€Lender"€is€any€bank,€savings€bank,€privateÐ > Ž Ðbanker,€trust€company,€savings€and€loan€association€and€credit€union€or€similar€bankingÐ + { Ðinstitution€whether€organized€under€the€laws€of€this€state,€the€United€States€or€any€other€state;Ð  h Ðforeign€banking€corporation€licensed€by€the€Superintendent€of€Banks€of€New€York€or€theÐ  U  ÐComptroller€of€the€Currency€to€transact€business€in€New€York€State;€insurance€company€dulyÐ ò B  Ðorganized€or€licensed€to€do€business€in€New€York€State;€mortgage€banker€licensed€pursuant€toÐ ß/  ÐArticle€12-D€of€the€Banking€Law;€and€any€instrumentality€created€by€the€United€States€or€anyÐ Ì  Ðstate€with€the€power€to€make€mortgage€loans.Ð ¹  Ð(Delete€if€inapplicable)€(c)€Purchaser€and€Seller€agree€that€the€submission€of€an€application€to€aÐ ¦ö  Ðmortgage€broker€registered€pursuant€to€Article€12-D€of€the€New€York€Banking€Law€("MortgageÐ “ã  ÐBroker")€shall€constitute€full€compliance€with€the€terms€and€conditions€set€forth€in€para.€23(a)(i)Ð €Ð Ðof€this€Contract,€and€that€Purchaser's€cooperation€in€good€faith€with€such€Mortgage€Broker€toÐ m½ Ðobtain€a€commitment€from€an€Institutional€Lender€(together€with€Purchaser's€cooperation€inÐ Zª Ðgood€faith€with€any€Institutional€Lender€to€which€Purchaser's€application€has€been€submitted€byÐ G— Ðsuch€Mortgage€Broker),€and€the€prompt€giving€of€Notice€by€Purchaser€to€Seller€of€the€name€andÐ 4„ Ðaddress€of€each€Mortgage€Broker€to€which€Purchaser€has€submitted€such€an€application€shallÐ !q Ðconstitute€full€compliance€with€the€terms€and€conditions€set€forth€in€para.€23(a)(v)€and€(vi)€ofÐ ^ Ðthis€Contract.Ð ûK Ðà  àÌà  à24.€Gender,€Etc.:€As€used€in€this€Contract,€the€neuter€includes€the€masculine€andÐ Õ% Ðfeminine,€the€singular€includes€the€plural€and€the€plural€includes€the€singular,€as€the€context€mayÐ Â Ðrequire.Ð ¯ÿ ÐÌà  à25.€Entire€Contract:€All€prior€understandings€and€agreements€between€Seller€andÐ ‰Ù ÐPurchaser€are€merged€in€this€Contract€and€this€Contract€supersedes€any€and€all€understandingsÐ v Æ Ðand€agreements€between€the€parties€and€constitutes€the€entire€agreement€between€them€withÐ c!³ Ðrespect€to€the€subject€matter€hereof.Ð P"   Ðà  àÌà  à26.€Captions:€The€captions€in€this€Contract€are€for€convenience€and€reference€only€and€inÐ *$z" Ðno€way€define,€limit€or€describe€the€scope€of€this€Contract€and€shall€not€be€considered€in€theÐ %g # Ðinterpretation€of€this€Contract€or€any€provision€hereof.Ð &T!$ Ðà  àÌà  à27.€No€Assignment€by€Purchaser:€Purchaser€may€not€assign€this€Contract€or€any€ofÐ Þ'.#& ÐPurchaser's€rights€hereunder.Ð Ë($' ÐÌà  à28.€Successors€and€Assigns:€Subject€to€the€provisions€of€para.€27,€the€provisions€of€thisÐ ¥*õ%) ÐContract€shall€bind€and€inure€to€the€benefit€of€both€Purchaser€and€Seller€and€their€respectiveÐ ’+â&* Ðdistributees,€executors,€administrators,€heirs,€legal€representatives,€successors€and€permittedÐ ,Ï'+ Ðassigns.Ð l-¼(, Ðà  àÌà  à29.€No€Oral€Changes:€This€Contract€cannot€be€changed€or€terminated€orally.€AnyÐ í Ðchanges€or€additional€provisions€must€be€set€forth€in€a€rider€attached€hereto€or€in€a€separateÐ ŠÚ Ðwritten€agreement€signed€by€both€parties€to€this€Contract.Ð wÇ Ðà  àÌà  à30.€Contract€Not€Binding€Until€Signed:€This€Contract€shall€not€be€binding€or€effectiveÐ Q ¡ Ðuntil€properly€executed€and€delivered€by€Seller€and€Purchaser.Ð > Ž ÐÌÌÌIn€Witness€Whereof,€the€parties€hereto€have€duly€executed€this€Contract€on€the€day€and€year€firstÐ ò B  Ðabove€written.Ð ß/  ÐÌà  àà ` àà ¸ àà  àà h àÌà  àSellerà ` àà ¸ àà  à(Soc.€Sec.€No.)à  àà p àPurchaserà  àà x à(Soc.€Sec.Ð ¦ö  ÐNo.)à  àÐ “ã  ÐÌà  àà ` àÌSellerà  àà ` àà ¸ à(Soc.€Sec.€No.)à À àà  àPurchaserà È àà  à(Soc.€Sec.€No.)Ð Zª ÐÌÌAgreed€to€as€to€para.€16:€à  àà h àà À àEscrow€Depository:à È àà  àà x àà Ð àÐ !q Ðà  à€à ` àà ¸ àà  àà h àEscroweeÐ ^ Ðà  àà ` àà ¸ àÌÌSCHEDULE€A€-€Permitted€ExceptionsÐ Õ% ÐÌÌà  à1.€Zoning€laws€and€regulations€and€landmark,€historic€or€wetlands€designation€which€areÐ œì Ðnot€violated€by€the€Unit€and€which€are€not€violated€by€the€Common€Elements€to€the€extent€thatÐ ‰Ù Ðaccess€to€or€use€of€the€Unit€would€be€materially€and€adversely€affected.Ð v Æ Ðà  à2.€Consents€for€the€erection€of€any€structure€or€structures€on,€under€or€above€any€street€orÐ c!³ Ðstreets€on€which€the€Building€may€abut.Ð P"   Ðà  à3.€The€terms,€burdens,€covenants,€restrictions,€conditions,€easements€and€rules€andÐ =#! Ðregulations€set€forth€in€the€Declaration,€By-Laws€and€rules€and€regulations€of€the€Condominium,Ð *$z" Ðthe€Power€of€Attorney€from€Purchaser€to€the€board€of€managers€of€the€Condominium€and€theÐ %g # Ðfloor€plans€of€the€Condominium,€all€as€may€be€amended€from€time€to€time.Ð &T!$ Ðà  à4.€Rights€of€utility€companies€to€lay,€maintain,€install€and€repair€pipes,€lines,€poles,Ð ñ&A"% Ðconduits,€cable€boxes€and€related€equipment€on,€over€and€under€the€Building€and€CommonÐ Þ'.#& ÐElements,€provided€that€none€of€such€rights€imposes€any€monetary€obligation€on€the€owner€ofÐ Ë($' Ðthe€Unit€or€materially€interferes€with€the€use€of€or€access€to€the€Unit.Ð ¸)%( Ðà  à5.€Encroachments€of€stoops,€areas,€cellar€steps,€trim,€cornices,€lintels,€window€sills,Ð ¥*õ%) Ðawnings,€canopies;€ledges,€fences,€hedges,€coping€and€retaining€walls€projecting€from€theÐ ’+â&* ÐBuilding€over€any€street€or€highway€or€over€any€adjoining€property€and€encroachments€of€similarÐ ,Ï'+ Ðelements€projecting€from€adjoining€property€over€the€Common€Elements.Ð l-¼(, Ðà  à6.€Any€state€of€facts€which€an€accurate€survey€or€personal€inspection€of€the€Building,Ð ° ÐCommon€Elements€or€Unit€would€disclose,€provided€that€such€facts€do€not€prevent€the€use€of€theÐ í ÐUnit€for€dwelling€purposes.€For€the€purposes€of€this€Contract,€none€of€the€facts€shown€on€theÐ ŠÚ Ðsurvey,€if€any,€identified€below,€shall€be€deemed€to€prevent€the€use€of€the€Unit€for€dwellingÐ wÇ Ðpurposes,€and€Purchaser€shall€accept€title€subject€thereto.Ð d´ Ðà  à7.€The€lien€of€any€unpaid€common€charge,€real€estate€tax,€water€charge,€sewer€rent€orÐ Q ¡ Ðvault€charge,€provided€the€same€are€paid€or€apportioned€at€the€Closing€as€herein€provided.Ð > Ž Ðà  à8.€The€lien€of€any€unpaid€assessments€to€the€extent€of€installments€thereof€payable€afterÐ + { Ðthe€Closing.Ð  h Ðà  à9.€Liens,€encumbrances€and€title€conditions€affecting€the€Common€Elements€which€doÐ  U  Ðnot€materially€and€adversely€affect€the€right€of€the€Unit€owner€to€use€and€enjoy€the€CommonÐ ò B  ÐElements,Ð ß/  Ðà  à10.€Notes€or€notices€of€violations€of€law€or€governmental€orders,€ordinances€orÐ Ì  Ðrequirements€(a)€affecting€the€Unit€and€noted€or€issued€subsequent€to€the€date€of€this€Contract€byÐ ¹  Ðany€governmental€department,€agency€or€bureau€having€jurisdiction€and€(b)€any€such€notes€orÐ ¦ö  Ðnotices€affecting€only€the€Common€Elements€which€were€noted€or€issued€prior€to€or€on€the€dateÐ “ã  Ðof€this€Contract€or€at€any€time€hereafter.Ð €Ð Ðà  à11.€Any€other€matters€or€encumbrances€subject€to€which€Purchaser€is€required€to€acceptÐ m½ Ðtitle€to€the€Unit€pursuant€to€this€Contract.Ð Zª ÐÌÌThe€survey€referred€to€in€No.€6€above€was€prepared€byÐ !q ÐÌdatedà  àà ` àà ¸ àand€last€revisedÐ ûK ÐÌ