Chicago Title Insurance Company


NEW YORK CITY "DEVELOPMENT RIGHTS" ENDORSEMENT



Attached to and made a part of Policy Number __________________________________.

The Policy insures that all Parties in Interest, as such terms is defined in Section 12-10 of the Zoning Resolution of the 
City of New York effective December 15, 1961 as amended to Date of Policy, have joined in, waived or 
subordinated their interest to the Declaration of Zoning Lot Restrictions ("Declaration").

The Policy further insures that the Zoning Lot Development Agreement ("ZLDA") between, 
___________________________ and _____________________, dated ___________________ and to be recorded is 
a valid agreement as of the Date of this Policy in accordance with and subject to its terms, covenants, and conditions, 
binding upon all Parties in Interest as defined in Section 12-10(d) of the Zoning Resolution of the City of New York 
as amended to Date of Policy, and on the premises described therein, and is effective to transfer to the insured the floor 
area development rights as therein provided in favor of the premises described in Schedule "A" of the Policy except

(i) that the Policy does not insure the amount of any floor area development rights that may be 
attributable to any of the properties described in the ZLDA, and

(ii) that nothing herein shall be deemed a waiver of the provisions of Exclusions from Coverage 1(a) of 
the policy.

The Policy further insures an Easement for Light and Air over Lot(s)____________ in Block ________ as shown on 
the Tax Map of the City of New York for the County of __________________ and negative covenants not to build 
over the existing building thereon for the benefit of the insured, as is set forth, defined and limited in the ZLDA 
between ____________________, and ____________________, dated ________________ and recorded in the 
public records of __________ County on __________________, in Reel ______ Page _____.

This endorsement is made a part of the Policy and is subject to all of the terms and provisions thereof and of any other 
endorsements thereto.  Except to the extent expressly stated, it neither modifies any of the terms and provisions of the 
Policy and any other endorsements, nor does it extend the effective date of the Policy and any other endorsements, nor 
does it increase the amount thereof.

. 
Dated:      

Countersigned				Chicago Title Insurance Company
                                     		       
BY: 
Authorized Signatory






TIRSA NEW YORK CITY "DEVELOPMENT RIGHTS" ENDORSEMENT (04/24/01)