33 FIFTH AVENUE OWNERS CORP. 33 Fifth Avenue New York, NY 10003

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1 33 FIFTH AVENUE OWNERS CORP. 33 Fifth Avenue New York, NY PROCEDURES TO SUBLET: The following procedure must be followed to sublet your cooperative apartment. No subletting may occur without first obtaining approval from the Board of Directors of 33 Fifth Avenue Owners Corp. REGULAR SUBLET POLICY: 1. No sublets are permitted during the first 12 months of ownership. 2. The minimum sublease term is one year. If for any reason the sublease is terminated early, its term is nonetheless considered to have been a full year. Lessees may not sublet for more than two years in any five-year period, unless specific written permission to the contrary is granted by the lessor s board of directors. 3. The lessee must provide a rider to the sublease identifying all occupants of the apartment during the proposed sublease and prohibiting any other party to reside in the apartment in the subtenant s absence. 4. A fee of 25% percent of the monthly maintenance charge will be billed to the lessee during each month of the sublet and will be payable monthly as additional maintenance. 5. The lessee must deposit a sum of $3,000.00, which the lessor will hold in escrow for the duration of the sublet. The lessee will forfeit this security deposit if the sublet agreement and house rules are violated in any way, including by the subtenant s failure to vacate on time. 6. Subtenants must abide by the proprietary lease and the house rules at all times. 7. The subtenant must take out and maintain throughout the term of the sublease renter s liability insurance in the minimum amount of $1 million, naming 33 Fifth Avenue Owners Corp. and The Lovett Company, LLC. as additional insured parties, and submit proof of such by providing a certificate of insurance to the managing agent before moving 8. Not less than one month prior to the end of the sublease term, the lessee must advise management of his or her intention to request a renewal of the sublease, failing which no such request will be entertained. Revised 12/29/15 YVC

2 PROFESSIONAL/COMMERCIAL SUBLET POLICY: For all professional units (defined, in accordance with the co-op s offering plan, proprietary lease, and the building s certificate of occupancy, as apartments 1A, 1B, and 1C): a. The use of the whole or any part of the professional unit by any party other than the lessee and the lessee s employees (who are so identified on the lessee s tax returns and occupy concurrently with the lessee) is deemed a sublet and requires compliance with all conditions 1 through 9 above. b. Sublets can be only for medical (including psychotherapeutic) and/or dental practices (as determined by the certificate of occupancy) and not for residential or any other professional use. c. If the lessee of a professional unit does not occupy the unit, he or she may not sublet for more than two years in any five-year period, unless specific written permission to the contrary is granted by the lessor s board of directors. d. If the lessee of a professional unit occupies the unit, he or she may sublet a portion of it to co-occupying subtenants for a term of five years. The lease may be renewed with the board s prior written approval. i. Occupancy by the lessee of a professional unit shall be defined as the lessee s active practice in the professional unit on at least a regular, weekly basis. e. The lessee must advise the lessor immediately of any changes in occupancy over the term of any sublease, or otherwise. Professional Units: Hours of Use and Access 1. The hours of use of the professional units (defined, in accordance with the co-op s offering plan, proprietary lease, and the building s certificate of occupancy, as apartments 1A, 1B, and 1C) shall be limited to 8 a.m. to 8 p.m. on Mondays through Fridays, and 8 a.m. to 6 p.m. on Saturdays. No such usage shall be conducted on Sundays or at other times. 2. The lessee s clients or patients will be provided immediate access to the professional unit. Clients or patients shall not be permitted to wait in the building lobby or congregate outside the building s entrances. Revised 12/29/15 YVC

3 Applicants must submit one (1) original set of the Sublease Application including: 1. Non-Refundable Processing Fee in the amount of $ Please make check payable to The Lovett Company, LLC. 2. Non-Refundable Credit Check Fee in the amount of $75.00 PER APPLICANT. Please make check payable to The Lovett Company, LLC. 3. Non-Refundable Criminal Background in the amount of $ PER APPLICANT/OCCUPANT Fee per applicant/occupant. Please make the check payable to The Lovett Company, LLC. (Please note that everyone over the age of 18 must complete the authorization form.) 4. Refundable Move-in Deposit from the Tenant(s) in the amount of $ Please make check payable to 33 Fifth Avenue Owners Corp. 5. Refundable Move-out Deposit from the Shareholder(s) in the amount of $ Please make check payable to 33 Fifth Avenue Owners Corp. 6. Sublet fee of 25% percent of the monthly maintenance charge will be billed to the lessee during each month of the sublet and will be payable monthly as additional maintenance from the Shareholder. All fees must be paid by Certified Check, Money Order or Attorney Escrow Check ONLY. No exceptions will be made! Your completed package should be sent to: The Lovett Company, LLC th Avenue College Point, New York Attention: Yajaira V. Crespo Phone: (718) Revised 12/29/15 YVC 3

4 Please note the following: PROCESSING OF YOUR APPLICATION TAKES APPROXIMATELY 3-4 WEEKS. o Please note that all applications are date stamped upon receipt and processed within 3-4 weeks in the order in which they are received. There is an option to have the application processed in our office within 48 hours and forwarded to the board. The expedite fee is not a mandatory fee, however, should you wish to use this service, the fee is $250 payable to The Lovett Company. Please note that the expedite fee is only to have the application processed by our office within 48 hours of receipt. It does not expedite the board s review, nor does it guarantee that the application will be approved. *** Incomplete packages will be returned to sender All checks must be in the form of money order or bank certified checks, no exceptions! Do not bind or staple application together. A binder clip or rubber band should be used. RENEWAL TERMS: The following fees will be due and charged to Shareholder s account at the time of renewal: a. A fee of $ as a lease renewal fee (a letter from management will be sent at that time to the Shareholder) b. The annual sublet fee of 25% of the monthly maintenance. Should you have any questions, please do not hesitate to contact me at the number indicated below. Sincerely, The Lovett Company, LLC Yajaira V. Crespo Transfer Agent Phone (718) Fax: (718) ycrespo@lovettrealty.com Revised 12/29/15 YVC 4

5 TLC The Lovett Company, LLC REAL ESTATE MANAGEMENT IMPORTANT INFORMATION REGARDING YOUR SOCIAL SECURITY NUMBER PROTECTING YOUR PRIVACY In order to protect your privacy please remove / blackout your social security number from each financial institution document inserted into the application. Financial condition (net worth) Tax returns Personal loans Bank statements o IRA o CD s o Savings The Credit Agency Authorization Form in the application is the only form that requires your Social Security number. ONLY send one (1) Credit Agency Authorization Form to our office with your original application - do not make or send additional copies of the Credit Agency Authorization Form. The Credit Agency Authorization Form containing your Social Security number will be shredded in our office as soon as we submit the information to the Credit Agency and obtain your credit report. If you have any questions please contact the Management Office. Revised 12/29/15 YVC 5

6 TLC The Lovett Company, LLC REAL ESTATE MANAGEMENT 1270 BROADWAY, SUITE 408 NEW YORK, NY (212) FAX (212) EXPEDITE AUTHORIZATION FORM Please note that all applications are date stamped upon receipt and processed within 3-4 weeks in the order in which they are received. There is an option to have the application processed in our office within 72 (business) hours and forwarded to the board. The expedite fee is not a mandatory fee, however, should you wish to use this service, the fee is $250 payable to The Lovett Company (certified check or money order only). Please note that the expedite fee is only to have the application processed by our office within 72 (business) hours of receipt. It does not expedite the board s review, nor does it guarantee that the application will be approved. The memo must be completed and sent with the submission if this option is selected. Revised 12/29/15 YVC 6

7 TLC The Lovett Company, LLC REAL ESTATE MANAGEMENT 1270 BROADWAY, SUITE 408 NEW YORK, NY (212) FAX (212) Authorization to Expedite Application I am aware, as is stated in the Resale and Sublease application agreement; it takes approximately 3 to 4 weeks for the Managing Agent to process, once the application is accepted as complete. However, I am under a time constraint and I am requesting the Managing Agent expedite the processing of my application. I am aware the expediting of my application only provides the application will be processed by the Managing Agent within 72 hours of receipt of receiving my completed application, and forwarded to the Board of Directors for consideration. I am aware that the expedite fee does not expedite the Board of Directors review of my application, nor does it guarantee approval by the Board of Directors. Applicants Name Applicants Signature Building Apartment Date Revised 12/29/15 YVC 7

8 IMPORTANT NOTES Due to the large volume of calls and applications received by this office, we kindly ask that you refrain from calling for an update during the three (3) week processing period. When an update is ready, we will contact your point person, which we recommend should be your Real Estate Broker, or in the absence of a Broker, your Attorney. Please advise all parties involved and provide them with the broker s and/or attorney s contact information. In an effort of fairness, we must process applications on a first come, first serve basis. If you are concerned about the receipt of your package, please use a method of return receipt via USPS, Fed Ex, messenger service or hand delivery, etc. If there is a problem with the application submitted, you will be notified accordingly. Please be advised that submission of an incomplete package may extend the three week processing period. After the application is processed and submitted to the Board, you will be advised via telephone or of the next step of the process. Please provide an address below and advise our office who will be the point person (main contact). Please be advised that all parties will not be called/ ed, only the main contact. Brokers: Replace any old purchase and/or lease applications from this co-op by visiting our website, Submission of old applications may cause delays in the processing. Please provide your bank/mortgage broker/appraiser with the attached information. Thank you for your cooperation. Revised 12/29/15 YVC 8

9 33 FIFTH AVENUE OWNERS CORP. SECTION 1 COOPERATIVE SUBLEASE APPLICATION Revised 12/29/15 YVC 9

10 APPLICATION SHAREHOLDER INFORMATION: SHAREHOLDER'S NAME: SHAREHOLDER'S ADDRESS: DAY/EVENING TELEPHONE #: ADDRESS: APARTMENT #: LEASE TERM: FROM: TO: MONTHLY RENT: THIS PROPOSAL SHALL RESULT IN NO LEGAL OBLIGATION UNTIL A FORMAL LEASE IS EXECUTED BY THE PARTIES CONCERNED, AND APPROVAL IS GRANTED BY THE BOARD OF DIRECTORS OF THE SEVEN PARK AVENUE CORPORATION. APPLICANT'S INFORMATION: APPLICANT'S NAME: HOME ADDRESS: TEL #: ADDRESS EMPLOYER AND POSITION: BUSINESS ADDRESS: TEL #: FAX #: CO-APPLICANT'S NAME (If applicable): HOME ADDRESS: TEL #: ADDRESS EMPLOYER AND POSITION: BUSINESS ADDRESS: TEL #: FAX #: Revised 12/29/15 YVC 10

11 GUARANTOR S INFORMATION: GUARANTOR (IF APPLICABLE) -- PLEASE NOTE THAT YOU MAY ONLY HAVE A GUARANTOR IF YOU ARE GAINFULY EMPLOYED: NAME: HOME ADDRESS: TEL #: Address EMPLOYER AND POSITION: BUSINESS ADDRESS: TEL #: FAX #: NAME AND RELATIONSHIP OF ALL OTHER PEOPLE WHO WILL RESIDE IN THE APARTMENT (IF CHILDREN, LIST NAMES AND AGES): REFERENCES Present Landlord or Agent: Tel #: Address: Fax #: Approximate length of occupancy: Previous Landlord or Agent (if less than 5 years): Tel #: Address: Fax #: Address of previous residence: Length of occupancy: FINANCIAL: Bank: Account Number: Address: Bank: Account Number: Address: Revised 12/29/15 YVC 11

12 Bank: Account Number: Address: Stock Broker, CPA, Executor, if any: Address: Tel #: Other: PERSONAL REFERENCES: Name and Address: Telephone Number: Name and Address: Telephone Number: Name and Address: Telephone Number: APPLICANT'S SIGNATURE: DATE: CO-APPLICANT'S SIGNATURE: DATE: Revised 12/29/15 YVC 12

13 SECTION 2 FINANCIAL CONDITION (NET WORTH) Revised 12/29/15 YVC 13

14 STATEMENT OF FINANCIAL CONDITION Please note that all information listed here should have documentation Name: Address: For the purpose of procuring credit from the above named company, or its assigns, the following is submitted as being a true and accurate statement of the financial condition of the undersigned on the day of, 20 FILL ALL BLANKS, WRITING NO OR NONE WHERE NECESSARY TO COMPLETE INFORMATION ASSETS LIABILITIES Cash in Banks: Notes Payable: Savings & Loan Shares: To Banks: Earnest Money Deposited: To Relatives: Investments: Stocks & Bonds: To Others: (see schedule) Installment Accts Payable: Investment in own Business: Automobile: Real Estate owned (see schedule) Other: Other Accounts Payable: Automobiles: (Year & Make) Mortgages Payable on Real Estate: (see schedule): Unpaid Real Estate taxes: Unpaid Income taxes: Chattel Mortgages: Personal Property & Furniture: Loans on Life Insurance Policies: Life Insurance: (Include Premium Advance): Cash Surrender Value: Other Assets itemize: Other debts itemize: Total Assets: Total Liabilities: Net Worth: APPLICANT & CO-APPLICANT SOURCE OF INCOME Base Salary: Bonus & Commissions: Real Estate Income (Net): Other Income itemize: CONTINGENT LIABILITIES As Endorser or Co-maker on Notes: Alimony Payments (Annual): Are you a defendant in any legal action? Are there any unsatisfied judgments? Have you ever filed bankruptcy? Explain: S/E Income: Dividends & Interest Income: Co-applicant Income (specify): Total Annual Income: GENERAL INFORMATION Personal Bank Accounts carried at: Savings & Loan Account at: Purpose of Loan: Revised 12/29/15 YVC 14

15 SCHEDULE OF STOCKS AND BONDS Non-Marketable Amount or Marketable (Unlisted Securities) No. Shares Description Actual Market Value Estimated Worth SCHEDULE OF CASH IN BANKS AND BROKERAGE Location Account Balance SCHEDULE OF REAL ESTATE Actual Market Mortgage Description & Location Cost Value Amount Maturity SCHEDULE OF NOTES PAYABLE Specify any assets pledged as collateral, indicating the liabilities which they secure: To Whom Payable Date Amount Due Interest Assets Pledged as Security The foregoing statements and details pertaining thereto, both printed and written, have been carefully read and the undersigned hereby solemnly declares and certifies that same is a full and correct exhibit of my/our financial condition. Date: Signature of Applicant: Signature of Co-Applicant: Revised 12/29/15 YVC 15

16 SECTION 3 PLEASE INSERT SUBLEASE AGREEMENT HERE Revised 12/29/15 YVC 16

17 SECTION 4 INSERT LAST TWO (2) YEARS OF FEDERAL TAX RETURNS WITH W-2 FORMS HERE Revised 12/29/15 YVC 17

18 SECTION 5 INSERT LETTER FROM EMPLOYER STATING EMPLOYMENT PERIOD & CURRENT SALARY & COPIES OF TWO MOST RECENT PAY STUBS HERE Revised 12/29/15 YVC 18

19 SECTION 6 INSERT LETTER FROM PREVIOUS LANDLORD INDICATING LENGTH OF STAY & CURRENT PAYMENT HISTORY HERE Revised 12/29/15 YVC 19

20 SECTION 7 INSERT TWO (2) PERSONAL REFERENCE LETTERS FROM NON-RELATIVES KNOWN FOR AT LEAST FIVE YEARS HERE Revised 12/29/15 YVC 20

21 SECTION 8 INSERT BANK BALANCE CONFIRMATION LETTER HERE LETTER STATING TYPE OF ACCOUNT AND AMOUNT ON DEPOSIT IN U.S. DOLLARS. Revised 12/29/15 YVC 21

22 CREDIT AGENCY AUTHORIZATION Authorization for THE LOVETT COMPANY, LLC to obtain a credit report In order to comply with the provisions of 15 U.S.C. Section 1681(d) of the Federal Fair Credit Reporting Act, I (we) authorize you to retain The Lovett Company, LLC which agency may obtain, prepare and furnish an investigative consumer report including information on my character and general reputation, personal characteristics and mode of living, whichever are applicable, as well as information regarding employment, credit and current financial position. If this is a lease application, I (we) further authorize John B. Lovett & Associates, Ltd., and/or The Lovett Company, LLC. at its discretion, to make a copy of such credit report available to the owner of the unit which I (we) propose to lease. In addition, within a reasonable period of time, upon written request to John B. Lovett & Associates, Ltd., and/or The Lovett Company, LLC. I (we) may obtain a complete and accurate disclosure of the nature and scope of the investigation requested. Receipt is acknowledged to the summary of rights enclosed herewith. Applicant (Print): Applicant's Signature: Social Security #: Address: Applicant (Print): Applicant's Signature: Social Security #: Address: Date: Revised 12/29/15 YVC 22

23 RELEASE OF INFORMATION AUTHORIZATION AUTHORIZATION TO OBTAIN A CRIMINAL REPORT I hereby authorize any individual, company or institution to release to The Lovett Company, LLC, and/or its representative any and all information that they have concerning any criminal activity. I hereby release the individual, company or institution and all individuals connected therewith from all liability for any damage whatsoever incurred in furnishing such information. Print Name: Date of Birth Address: Sex: Male Female City/State/Zip: Social Security Number: Signature: Print Name: Date of Birth Address: Sex: Male Female City/State/Zip: Social Security Number: Signature: (FOR OFFICE USE ONLY) PLEASE RETURN TO: THE LOVETT COMPANY, LLC. ATTN: YAJAIRA ACHAIA FAX (718) BUILDING REFERENCE: 33 FIFTH AVENUE OWNERS CORP: APT Revised 12/29/15 YVC 23

24 33 FIFTH AVENUE OWNERS CORP. 33 Fifth Avenue New York, NY MOVE-IN/MOVE-OUT AGREEMENT The undersigned hereby agrees to comply with the provisions of the Rules and Regulations of 33 Fifth Avenue Owners Corp. in the delivery (Move-In) or the removal (Move-Out) of furniture, furnishings and personal property from the apartment identified below. In addition, the undersigned agrees to the following policies and procedures as established by the co-op: 1. The payment of the following fees at the time the application is submitted and in advance of the Move-In: a. By certified check, bank check, or money order, the amount of Five Hundred Dollars ($500.00), payable to 33 Fifth Avenue Owners Corp. as a Refundable move in security deposit, which shall be refunded after final inspection by the Superintendent confirms that no damage has occurred during the move. 2. The payment of the following fees at the time the application is submitted and in advance of the Move-Out: a. By certified check, bank check, or money order, the amount of Five Hundred Dollars ($500.00), payable to 33 Fifth Avenue Owners Corp. as a Refundable move out security deposit, which shall be refunded after final inspection by the Superintendent confirms that no damage has occurred during the move. The date of the Move-In to or Move-Out from the apartment must be scheduled with the Building Superintendent, Fadil (Bart) Mavraj, at least one week in advance. Please note that moving in and out of the building must be done on weekdays only between the hours of 9:00 a.m. and 5:00 p.m. All moves must be completed by 5:00 p.m. 3. Any carrier engaged for the delivery or removal of property shall be advised to comply with the instructions of the Building Staff assigned for monitoring and supervising the Move-In and/or Move-Out. 4. In addition, a Certificate of Insurance from your moving company for Workmen's Compensation and General Liability Insurance, in the amount of $500,000 property damage and $500,000/$1,000,000 bodily injury, must be provided to the Managing Agent prior to the move. The certificate must name 33 Fifth Avenue Owners Corp. and The Lovett Company, LLC as Additional Insureds. 5. The undersigned shall be responsible for any damages caused to the common areas of 33 Fifth Avenue Owners Corp. during the process of the Move-in or Move-Out. The amount of the cost for any repairs and/or replacements resulting from damages attributed to the Move-In or Move-Out shall be the sole determination of the Managing Agent, which shall be based upon the prevailing costs for similar repairs and/or replacements. 6. It is understood that 33 Fifth Avenue Owners Corp. shall return to the undersigned the refundable amount of the Security Deposit within thirty (30) days of Revised 12/29/15 YVC 24

25 the date of the Move, or the net amount of the Security Deposit after deducting the amount of the cost of repairs and/or replacements, if any, within thirty (30) days after the date of determination of the cost thereof. In the event of a Move-Out, the refund will be sent to the forwarding address as indicated below. 7. It is further understood that the amount due or payable to the undersigned from the Security Deposit may not be assigned to another party, nor may it be deducted from any future monthly maintenance payments. AGREED: DATE OF MOVE: Name of Shareholder Apt. No. Signature of Shareholder Name of Applicant Date Date Signature of Applicant Forwarding Address for return of Move-Out deposit. Please print name and address clearly. Phone Revised 12/29/15 YVC 25

26 33 FIFTH AVENUE OWNERS CORP. 33 Fifth Avenue New York, NY ACKNOWLEDGMENT OF HOUSE RULES By signing below, I/we acknowledge receipt of 33 Fifth Avenue Owners Corp. House Rules and will abide by them. Apt. No.: Name of Tenant(s): Signature of Tenant(s): Date: Revised 12/29/15 YVC 26

27 WINDOW GUARD QUESTIONNAIRE Appendix A LEASE NOTICE TO TENANT W I N D O W G U A R D S R E Q U I R E D You are required by law to have window guards installed in all windows if a child 10 years of age or younger lives in your apartment. Your landlord is required by law to install window guards in your apartment if you ask him to install window guards at any time (you need to give a reason), OR If a child 10 years of age or younger lives in your apartment. It is a violation of law to refuse, interfere with installation, or remove window guards where required. Check One: Children 10 years of age or younger live in my apartment No children 10 years of age or younger live in my apartment I want window guards even though I have no children 10 years of age or younger Tenant: Tenant s Signature: Date: Tenant s Address: Return this form to: Owner/Manager: The Lovett Company, LLC th Avenue College Point, New York For further information call: Window Falls Prevention Revised 12/29/15 YVC 27

28 DISCLOSURE OF INFORMATION ON LEAD-BASED PAINT AND LEAD-BASED PAINT HAZARDS Lead Warning Statement Every tenant of any interest in residential real property on which a residential dwelling was built prior to 1978 is notified that such property may present exposure to lead from lead-based paint that may place young children at risk of developing lead poisoning. Lead Poisoning in young children may produce permanent neurological damage, including learning disabilities, reduced intelligence quotient, behavioral problems, and impaired memory. Lead poisoning also poses a particular risk to pregnant women. The seller of any interest in residential real property is required to provide the buyer with any information on lead-based paint hazards from risk assessments or inspections in the seller s possession and notify the buyer of any known lead-based paint hazards. A risk assessment or inspection for possible lead-based paint hazards is recommended prior to purchase. Shareholder s Disclosure (initial) a) Presence of lead-based paint and/or lead-based paint hazards (check one below): ( ) Known lead-based paint and/or lead-based hazards are known to be present (explain): ( ) Lessor has no knowledge of lead-based paint and/or lead-based paint hazards in the apartment. b) Records and reports available to the seller (check one below): ( ) Lessor has provided the lessee with all available records and reports pertaining to leadbased paint and/or lead-based paint hazards in the apartment (list documents below). ( ) Lessor has no reports or records pertaining to lead-based paint and/or lead-based paint hazards in the apartment. Tenant s Acknowledgments (initial) c) Lessee has received copies of all information listed above. d) Lessee has received the pamphlet Protect Your Family from Lead in Your Home. e) Lessee has (check one below): ( ) Received a 10-day opportunity (or mutually agreed upon period) to conduct a risk assessment or inspection for the presence of lead-based paint and/or lead-based paint hazards; or ( ) Waived the opportunity to conduct a risk assessment or inspection for the presence of leadbased paint and/or lead-based paint hazards. Agent s Acknowledgment (initial) (f) Agent has informed the Lessor of the Lessor s obligations under 42 U.S.C. 4852(d) and is aware of his/her responsibility to ensure compliance. Certification of Accuracy The following parties have reviewed the information above and certify, to the best of their knowledge, that the information provided by the signatory is true and accurate. Shareholder: Date: Shareholder: Date: Agent: Date: Tenant: Date: Tenant: Date: Agent: Date: Revised 12/29/15 YVC 28

29 LAST PAGE OF THIS DOCUMENT Revised 12/29/15 YVC 29