~ Argo Real Estate Broadway Apartment #:

Transcription

1 ~ Argo Real Estate RE: 3117 Broadway Owners Corp Broadway Apartment #: This is to advise that I have read the building handbook of 3117 Broadway Owners Corp. and agree to abide by same. Purchaser/Tenant Purchaser/Tenant Date: 50 West 17th Street New York, NY Tel: Fax: Web:

2 3117 Broadway Ow,ners Corp. Building Handbook 2011 Last updated: iw JI/J8/1O 1

3 Building Handbook Table of Contents INTRODUCTION... 3 Rules and Regulations... 3 I. The Basics... 3 Apartment and Building Keys:... 3 Bicycle Room:... 3 Building Emergencies:... 4 Building Safety/Security:... 4 Common Areas:... 4 Garbage/Recycling:... 5 Gym Usage:... 5 Pets:... 6 Quiet Hours:... 6 Carpeting:... 6 Roof Access:... 6 Radiators:... 6 Storage Bins:... 7 Work Orders:... 7 II. Move InlMove Out and Deliveries Notice:... 8 Moving Fee:... 8 III. Alterations to Apartments... 8 Alteration Agreement:... 9 Written Permission:... 9 Washer and Dryer Installation:... 9 IV. Sublets and Roommates Sublets: The Sublease Application to the Board Board Interview Monthly Sublet Fee... I I Illegal sublets... I I Roommates:... II V. Selling Your Apartment: Application to the Board: Board Interview: VI. Financing and Refinancing Other Information: VII. Building Information: I) Bulletin Board: ) Laundry facilities ) Maintenance Defaults: ) Special assessments: ) Shareholder Repairs: ) Vermin: VIII. Communication from Shareholders: IX. The Superintendent Repairs Directory

4 INTRODUCTION The purpose of this Handbook is to offer shareholders and occupants an easy reference guide to many of the rules and regulations that govern 3117 Broadway Owners Corp. ("the Corporation"). This Building Handbook may be added to, amended or revoked at any time by resolution of the Board of Directors (the "Board"). Any consent or approval given under this Building Handbook by the Corporation may be revoked at any time. Shareholders should refer to the Proprietary Lease and the Corporation's By-laws for additional terms that govern shareholders and additional information. In publishing this Building Handbook, the Board has tried to balance the needs of individual shareholders against the interests of the Corporation and its shareholders as a whole. If special circumstances arise such that a shareholder needs a specific exemption from one of the Corporation regulations, please contact the Board. The Board may levy fines for failure to abide by the rules and regulations that govern the Corporation as expressed in this Building Handbook, the Proprietary Lease and the By-laws. Some fines are detailed under the relevant section of this Building Handbook. In general, however, any damage, fines or other costs to the Building caused by the actions of a shareholder(s) will be charged to that shareholder(s). Rules and Regulations I. The Basics Apartment and Building Keys: 1) Additional copies of apartment keys to the front door may be obtained from our Superintendent at a cost of $25 per key. This cost will be applied to the shareholder's maintenance account, unless a check payable to 3117 Broadway Owners Corp. is provided at the time of receiving the key. 2) All shareholders and their tenants are required to provide the Corporation's Superintendent with a key to their apartment in case of emergency. If you or your tenant do not leave a key to your unit with the Superintendent and access to your apartment is necessary, you will be liable for the costs of gaining access to your apartment and removing or replacing any lock, as well as any damages or personal injury caused by any negligence or act or failure to act on your part. Please be assured that all keys will be stored in a safe lock box, in a secure location of the building, to which only the Managing Agent and Superintendent will have access. Bicycle Room: You may store your bike in the basement bicycle rooms for $4 per bike per month ($2 for childrens' bikes), space permitting, by contacting the Managing Agent. You will receive a decal for each paid bike. Place the decal on the front your bike(s). Decaled bikes are entitled to hanging and locking space in one of the rooms. Children's bikes are entitled to space on the floor. Any bike without a decal will be removed, after notification to all tenants gets no response. Owners will be fined $25 for storing unregistered bikes in the room, and $50 for repeat offenses. The Corporation reserves the right to limit the number of bicycles per apartment in order to accommodate as many tenants as possible and to terminate their bicycle space for non-compliance with any of the Corporation's rules. The Corporation shall have no liability for loss or destruction of a bicycle in the Bicycle Room. 3

5 Building Emergencies: 1) In a building emergency, please call the Superintendent. If there is no immediate response, call the Managing Agent. Building Safety/Security: 1) Building security is the responsibility of every resident. Any suspicious activity should be reported at once to the Superintendent and/or the Managing Agent. In the event that you observe anything that might indicate a serious security breach (such as someone other than the Superintendent attempting to access an apartment without a key), report the activity at once to the police. 2) Do not hold the door for anyone you do not know. Do not prop or leave doors open unattended. Do not buzz anyone in that you do not know. Please note that residents may not recognize you and may ask you to identify yourself before they let you in. Please understand that this precaution is for everyone's safety. Contractors are not permitted to prop open unattended doors. Please close doors to the Building if you see them propped open. 3) Do not obstruct the public halls and stairways of the Building or use them for any purpose other than ingress to and egress from the apartments in the Building. 4) Do not place anything on the fire escapes or window sills, nor obstruct them in any way. S) The Corporation requires a spare key to each apartment's bottom lock. (See Apartment and Building Keys, page 3) 6) The Corporation, and any contractors or workmen authorized by the Corporation, may enter any apartment at any reasonable hour of the day for the purpose determining whether measures are necessary or desirable to control or exterminate any vermin, insects or other pests and for the purpose of taking such measures. 7) Messengers and trades people must use entrances designated by the Corporation. Common Areas: 1) You must keep your apartment, including the windows, in a good state of preservation and cleanliness and may not sweep or throw, or permit to be swept or thrown, any dirt or other substances from the windows, doors or landings. 2) No public hall shall be decorated or furnished by any owner or tenant without express permission from the Corporation. 3) Nothing may be hung or shaken from the doors, windows, terraces, fire escapes or balconies or placed upon the window sills of the Building. If noncompliance results in the issuance of a fine from a governmental agency, that shareholder will be held responsible for the cost of that fine/violation. 4) No awnings or ventilators shall be used in or about the Building except with the prior written approval of the Corporation or the Managing Agent and installed in compliance with local safety regulations to protect the public. No owner or tenant shall permit any such device to leak, nor to make any noise which disturbs or interferes with the rights, comfort or convenience of any occupant of any other apartment. If the owner/tenant fails to keep the device in good order and repair, the Corporation may remove it and charge the cost of removal to them as additional maintenance. It may not be replaced until the owner/tenant puts it in proper condition and then only with the further written consent of the Corporation. S) Air conditioners must be installed in compliance with local safety regulations to protect the public and are the sole responsibility of the shareholder. The Corporation reserves the right to ask the shareholder to remove or properly reinstall air conditioners at any time. 6) No sign, notice, advertisement or illumination shall be inscribed or exposed on any door, window or other part of the building, except with the prior approval in writing of the Corporation. 7) No plantings may be installed on the fire escapes, window sills or roof. 4

6 8) No aerials or satellite dishes shall be attached to or hung from the exterior of the Building without the prior written approval of the Corporation or the Managing Agent. 9) No telephone or cable lines shall be drilled into the facade of the building without the prior written approval of the Corporation or the Managing Agent. 10) Children shall not play in the public halls, courts, stairways, fire escapes or elevators. 11) No private property shall be allowed to stand in the public halls, passageways, areas or courts of the Building. The Corporation reserves the right to remove such property and is not responsible for loss or theft. 12) No group tour or exhibition of any apartment or its contents shall be conducted, nor shall any auction sale be held in any apartment without notice to the Corporation or the Managing Agent. 13) Apartments are for residential use only. No business may be run from any apartment in the Building except as permitted by law and with the prior written approval of the Corporation or the Managing Agent. Garbage/Recycling: 1) Garbage and refuse from the apartments must be disposed of in such manner as the Superintendent or the Managing Agent directs. New York City places heavy fines on those persons that do not comply with regulations. Flatten all cardboard boxes and stack them in the recycling area in the basement or as otherwise directed by the Superintendent. Shareholders and tenants who do not comply with regulations will incur those fines directly. The following fines, payable to 3117 Broadway Owners Corp., will also be levied: A. $25.00 first offense; and B $50.00 for second and/or additional offenses. 2) Large or bulk household garbage must be disposed of on Sunday nights and Tuesday nights only, and placed in the area of the basement designated by the Superintendent. If the Superintendent informs a shareholder or resident that the City Sanitation Department does not accept some such items, then the shareholder or resident is not permitted to leave the items in any of the building's common areas, and must make arrangements for disposal at their own cost. 3) Toilets and other water fixtures shall not be used for any purposes other than those for which they were constructed. No sweepings, rubbish, trash or any other article may be thrown into toilets or drains. The shareholder must pay the cost of repairing any damage resulting from their misuse. Gym Usage: 1) Upon request, two gym keys are given per apartment, and $10.00 per month is charged to the shareholder's maintenance account. In order to receive a gym key, you must adhere to the gym use guidelines. Please contact the Managing Agent for the guidelines. The facilities are for use only by shareholders, renters and their families. The facilities will be open daily between the hours of 6:00 am and 11:00 pm but may be closed at the discretion of the Superintendent or Board. 2) Minors are not allowed in the facilities unless accompanied by their authorized adult shareholder or tenant. 3) Proper attire is required. Closed toe, soft-soled shoes are required for entry into the facilities and for use of the equipment and weights. Bare chests are not allowed. The Corporation will not be held responsible for any belongings left at the gym and all unclaimed clothing will be removed. 4) The fitness center is for transient use only. The Corporation reserves the right to remove and discard personal items left overnight in the fitness center. If you inadvertently leave an article in the gym, check with the Superintendent. 5) Users agree to heed and follow directions outlined for the gym equipment issued by the Corporation. 6) Courtesy and cleanliness is expected. Equipment should be wiped clean and left in orderly condition. Weights should be returned to their storage positions when finished. All garbage must be thrown in the trash. 5

7 7) During heavy use time periods, there is a 20-minute maximum limit for use on cardiovascular equipment (e.g., treadmills, stationary bicycle, elliptical cross trainer). 8) The Corporation reserves its right to suspend or revoke the privilege to use of the gym at any time for failure to abide by these rules. Pets: 1) No dog, bird or other animal shall be kept or harbored in the Building unless expressly permitted by the Corporation. Permission may be revoked by the Corporation at any time. 2) In no event shall dogs be permitted in any of the public portions of the Building unless on a leash. 3) No pigeons or other birds or animals shall be fed from the window sills, fire escapes, yard, court spaces or public portions of the building, or on the sidewalk or street adjacent to the Building. 4) Dogs are to be curbed only beyond the outer sidewalk gate to the building. Any shareholder whose pet (or tenant's pet) is observed violating this regulation will, on first offense, have an additional $50 added to their maintenance account. A second violation will result in a $150 extra assessment. For a third violation, the extra assessment will be $250. Any subsequent violation will result in a revocation of the privilege to maintain a pet. Quiet Hours: 1) No one may make or permit any disturbing noises in the Building or do or permit anything to be done which will interfere with the rights, comfort or convenience of other residents. You may not play musical instruments, radios, lvs or any other sound amplification systems before 8:00 am or after 11:00 pm if the same shall disturb or annoy other occupants of the Building. Carpeting: 1) Upon receipt of a complaint by the Managing Agent of a noise infraction affecting the apartment below, the floors of an apartment will be required to be covered with rugs or carpeting or equally effective noisereducing material, to the extent of at least 80% of the floor area of each room excepting: kitchens, pantries, bathrooms, closets and foyer. Roof Access: 1) There is no roof access except in an emergency. Roof maintenance is costly and unnecessary traffic on the roof increases that cost. The door to the roof is wired with an alarm. If the door is opened, the alarm will sound. Radiators: 1) According to the terms of the Proprietary Lease and By-laws, each shareholder is responsible for the maintenance and upkeep of plumbing fixtures within his/her apartment. Any repairs necessary to stop leaking radiator valves, including damage caused to neighboring apartments, will be billed to your maintenance account. The cost of such work will be disclosed to you prior to any commencement of said work. 2) From time to time, residents in the Building report noise called "pipe hammer." This usually occurs when water gets trapped in the radiator. You can ask the Superintendent to "bleed" the water out of the radiator. Your radiator shut off valves should either be all the way "on" or all the way "off". 6

8 Storage Bins: 1) Shareholders may license storage bins, which are located in the basement. The Corporation owns the rights to the lockers and the space inside, and may terminate any arrangement immediately upon notice to the storage user. The monthly fee for the storage bins are either $50 or $55, depending on size. You must send a written, dated request to our Managing Agent if you wish to use a storage bin. They will let you know if a bin is available, or if not, where you fall on the waiting list. Bins become available when shareholders relinquish them, either voluntarily, through a default, or through the sale of their apartment. Storage bins do not automatically transfer to the buyer of an apartment. New shareholders must request a storage bin in accordance with the aforementioned procedures. It is the goal of the Board to provide one storage bin to all shareholders who request one. Therefore, requests for additional bins by a shareholder who already has one will not be considered if there are other shareholders on the waiting list. Any privilege granted to use more than one bin may be revoked by the Board to allow a new user who does not have a storage bin. 2) You may only use a storage bin that you have rented. Because of fire code, any goods, furniture or supplies left outside the bin will be immediately removed and reported to tenants. If no claim is made on an item, it will be disposed of or destroyed. 3) You may not store flammable substances (e.g., gasoline) or any corrosive or potentially harmful substances (e.g., acids, car batteries) in the storage bins. Beyond that restriction, use common sense when putting items into the basement storage area. Do not store items that might attract bugs or rodents. You may NOT keep items on the outside top of your storage bin. Other areas of the basement (locked storage rooms, recycling and bicycle rooms) may not be used for temporary or permanent storage. The Superintendent may, at any time, remove any items left in other parts of the basement. 4) The Corporation shall have no liability for loss or destruction of any items in the storage bins. Work Orders: 1) Requests for maintenance in your apartment and/or the common areas must be made in writing to the Superintendent, unless it's an emergency. Work Order forms can be found next to the Superintendent's office door in the basement. Work Orders must be completely filled out for all routine work and placed in the work order slot the Superintendent's office door. Work orders are used to schedule, track and dispatch work done within the Building. Work orders will be handled in the order received unless the work is an emergency. See The Superintendent, below. II. Move In/ Move Out and Deliveries To minimize inconvenience for residents and to protect the common areas from damage that can occur as the result of a move, please adhere to the following guidelines when moving in and out of the Building or receiving large deliveries (as of which are hereafter referred to as "move"). Please contact the Managing Agent and Superintendent at least three working days in advance to coordinate your move-in/out. If you have a special request related to your move, the Superintendent and/or Managing Agent may be able to accommodate it with some advance discussions and planning. The Superintendent is authorized and has been instructed to stop any moves that occur without following these procedures including by calling the police. Penalties for noncompliance are explained below. Only professional moving companies are permitted to use the staircases to move personal belongings in or out of the Building. If the shareholder or occupant is handling the move of personal belongings, they agree to hold harmless and free and to indemnify the Corporation and the Managing Agent for and against all injuries, losses, liabilities, judgments, damages, costs and expenses for the personal belongings being moved as well as legal fees and disbursements, that the shareholder or occupant may incur or suffer from. 7

9 Notice: 1) At least 3 business days notice must be given to the Superintendent and Managing Agent in advance of a move. A non-refundable $ fee must be paid to the Corporation, and will be charged to the shareholder's maintenance account unless a check payable to 3117 Broadway Owners Corp. is submitted to the Managing Agent prior to the move. If necessary, the Superintendent will install elevator pads to protect the inside of the elevator, monitor activity on moving day and determine if damages have occurred as a result of a move. He will secure the time and prepare the elevator for you. Unauthorized moving, i.e., not informing the Superintendent and Managing Agent of your intention to move, or moving after hours or on a weekend, will result in the following fines payable to 3117 Broadway Owners Corporation: A. $ fine for the first offense; and B. $ fine for a second offense and thereafter, potential suspension of subletting privileges. 2) Move in/move out times should take place Monday through Friday between 8:30 am -4:30 pm only. 3) Park only in designated parking areas on the street. Do not block the fire hydrant. 4) Take furniture, trunks and heavy baggage in or out of the Building through the entrance designated by the Superintendent. 5) Use the court yard as a staging area to ensure a secure move. Do not prop the gate open. 6) Flatten all cardboard boxes and stack them in the recycling area. Dispose of other recyclable materials in the proper receptacles. Boxes that have not been broken down or fines levied on the building caused by improper recycling will result in the fines mentioned below: A. $25.00 for the first offense; or B. $50.00 for second and additional offenses. Moving Fee: Moves require a $ nonrefundable payment from the shareholder or tenant, due prior to your scheduled move. Any further damage to the Building will be directly charged to the shareholder's maintenance account with written notice from the Managing Agent explaining the extent of the further damage and the corresponding costs to repair such damage. III. Alterations to Apartments All non-emergency construction and/or repair work, whether major or minor, may only be done between the hours of 8:30 a.m. and 4:30 p.m., Monday through Friday. Minor (cosmetic) work requires written permission from the Managing Agent and major (structural) work will require written permission from the Board and Managing Agent. Please contact the Managing Agent to get the Cooperative's Alteration Application. Describe in writing the type of work to be performed so that the Managing Agent can determine whether the work is major or minor and the appropriate procedures to be followed, as set forth below. The Alteration Application must be approved by the Managing Agent before any work begins in the Apartment. Please be courteous to your neighbors and inform them of the approximate start dates and/or duration of work scheduled for your apartment. 8

10 Alteration Agreement: The Board is very supportive of shareholders who wish to make improvements to their apartments. The concern with alterations, as with moving in and out of the Building, is to minimize inconvenience to others and to protect the Building against damage. To get the Board's permission, the Managing Agent will submit the details of work to be done. Written Permission: You need the written permission of the Board or Managing Agent if you are planning to: A. Use outside contractors; B. Do anything to the plumbing; C. Do anything to the electrical system; D. Make any structural changes; E. Change appliances and/or cabinets; and/or F. Painting or floor refinishing or installation work. Documents including, but not limited to, the following will be required for your alteration application: A. a signed copy of the Alteration Agreement, including a work plan and/or list of fixtures and appliances to be replaced B. Copies of all contracts with your contractor(s) and suppliers C. Work permits, if required by law D. From the contractor(s), a copy of a certificate of insurance in an amount appropriate to the work being performed, naming 3117 Broadway Owners Corp., the Managing Agent and the shareholder(s) as additional insured parties E. Copies of workman's compensation and employee liability insurance policies held by your contractor(s), if applicable F. A refundable deposit, totaling $1,000.00, made payable to 3117 Broadway Owners Corp. and to the Managing Agent, a nonrefundable check for $ for processing fees. G. Any other fees (payable to 3117 Broadway Owners Corporation) required by the Alteration Agreement, if applicable. You may proceed with the alterations only after you have received written permission from the Board and/or Managing Agent. The Board may approve your proposal as submitted, ask for clarification or changes, or deny permission at its sole discretion. The Board has the right to send the proposed plans to the Building's architect for review and ask that certain in-wall plumbing and electrical work be replaced as part of your renovation if necessary to your project. All costs associated with the review shall be borne by the shareholder. It is better to submit an incomplete proposal (at least the Alteration Agreement) than to wait until you have all the documentation, if, for instance, the insurance will follow later. Washer and Dryer Installation: If a shareholder desires to install a washer and/or dryer machine in the apartment, the following documentation must be submitted to the Board and Managing Agent for review and consideration of the installation request: 1) Copies of the plumber's and electrician's licenses and insurance certificates; 2) Specifications of the washer and dryer machines that the shareholder proposes to install - only ventless electric dryers are permitted to be installed; 3) Floor plan showing the proposed location of the machines in the apartment; 4) Electrical load letter from the licensed electrician indicating that there is sufficient service to accommodate the installation; 5) Detail of the soundproofing (vibration isolation) that will be installed underneath the floor of the location where the machines will be placed (to protect the apartment below from noise); 6) Detail of the waterproofing that will be installed under the floor beneath the washing machine (to protect the apartment below from flooding); 9

11 7) Detail of the catch basin that will be installed with the washing machine to collect excess water drainage and ensure drainage into the building's waste pipe; 8) Detail of the electrically actuated shutoff valve that will be installed on the washing machine (e.g., Intelliflow) and connected to the hot and cold water supply; and 9) Confirmation that check valves are being installed. Board approval will be required before any installation of a washer and/or dryer machine is permitted to occur. IV. Sublets and Roommates Sublets: The Board/Corporation has an interest in maintaining a high resident-shareholder occupancy ratio in the Building for a number of reasons. Of primary importance is that mortgages are easier and less expensive to obtain for apartments in buildings with high resident-shareholder occupancy levels. Policies that maintain high residentshareholder occupancy levels enhance the value of each of our investments in the Building. In addition, subtenants tend to be less respectful of our Building than owners. Nevertheless, circumstances may require a shareholder to sublet his/her unit. The Corporation has therefore developed the following policies and guidelines to balance the needs of individual shareholders with those of all shareholders: The Sublease: There is no restriction placed by the Board on the amount of rent a shareholder may charge or the form of lease that a shareholder may use. However, subleases must provide (in the body of the lease or a rider) that the subtenant is obligated to abide by the terms of the Corporation's Proprietary Lease and By-laws and this Building Handbook. The sublease must also state that it is subject to the approval of the Board. Please provide your subtenant with a copy of this Building Handbook and particularly refer to the section Move In, Move Out and Deliveries. Board approval of a sublet applies only to the particular subtenant(s) for the specific period of time covered by the approved sublease. At the end of that time the shareholder must apply and receive Board approval for an extension of time for the existing subtenant or for a new subtenant; or the shareholder must resume occupancy of the apartment or leave the apartment vacant. Be sure that your mortgage allows a sublet. Some lending institutions do not permit the sublet of a mortgaged apartment. You must determine whether you need your bank's permission to sublet, and if so, obtain that permission. Please state in writing that you either do not need, or have already obtained, any necessary lender approval. Application to the Board: Shareholders must apply to the Board in writing for permission to sublet. When you have found a prospective subtenant, please contact the Managing Agent for the Cooperative's Sublet Application. If you sign a sublease you must recognize that it is contingent upon the Board's approval. Send the completed application to the Managing Agent, along with: A. $ check payable to 3117 Broadway Owners COrp. for the move-in fee; B. $ check payable to the Managing Agent as a processing fee; C. $50.00 per person fee for the credit check; D. A copy of the certificate of insurance covering the apartment; E. A copy of the sublease; and F. A statement that you either do not need, or have already obtained any necessary lender approval. Board Interview: Once the completed Sublet Application and accompanying documents have been submitted, the Managing Agent will advise if the Board wishes to proceed to interviewing the subtenant(s) or if the application was rejected. After the interview, the shareholder and subtenant will receive written notice of Board approval. We will try to act quickly, but please allow four (4) weeks for the Board approval process to be completed. Only after receiving Board approval may the approved subtenant set a move in date with the Superintendent. See also Move In, Move Out and Deliveries, above. 10

12 Monthly Sublet Fee: Shareholders will pay an additional 10% per month above the maintenance while subletting an apartment and said fee will be billed to the maintenance account. Illegal sublets: Should illegal sublets occur, the following fines, payable to 3117 Broadway Owners Corporation will be incurred: A. $ fine for the first offense; B. $ fine for each further offense. In addition, the shareholder will incur all legal fees, termination of the sublease's lease and associated costs. Roommates: If a resident-shareholder or tenant takes an additional roommate, they should contact the Managing Agent to obtain a Residency Information Form so the roommate can be officially registered as an occupant of the Building. This allows labeling of the mailbox and intercom, and permission to use services on the premises. The Board always appreciates meeting new tenants, and so will extend an invitation to the roommate to say hello at its next meeti ng. See also Move In, Move Out and Deliveries, above. 11

13 V. Selling Your Apartment In order to sell your apartment (transfer your shares in the Corporation) you must get consent from the Board. It is the Board's responsibility to make sure that new shareholders are financially capable of paying the monthly debt service, that they are aware of the Corporation regulations and policies and are willing to abide by them, and that they intend to use the apartment as a residence only and will not abuse the "quiet enjoyment" of the other residents. The following is a brief summary of the procedures required by the Corporation for a transfer of shares, including obtaining Board approval of the prospective buyer. If you have any questions or would like more detailed information, please review your Proprietary Lease and/or contact the Managing Agent. This is not intended to be an exhaustive list of all the steps a shareholder must take to sell his/her apartment - please contact your lawyer about other steps that may be required by law. Application to the Board: When you have found a buyer for your apartment and signed a contract of sale, the Managing Agent will provide you with the Cooperative's Purchase Application. Please ensure that the entire application is filled out correctly, and submit it to the Managing Agent along with: A. A copy of the contract of sale; B. Copies of the buyer's last two u.s. Tax Returns; C. A bank commitment letter, if applicable; D. A letter from the buyer's employer stating his/her annual salary and that s/he is currently employed by that employer; E. Three letters of personal reference (from non-family members); F. A letter of reference from the buyer's previous landlord, if the buyer has rented an apartment within the last two years; G. $ check payable to 3117 Broadway Owners Corp. for the move-in fee; H. $ check payable to the Managing Agent as a processing fee; I. $50.00 per person fee for the credit check; J. The necessary flip tax, due at closing once the Board has approved the sale. If the buyer is financing his/her purchase, the Managing Agent will not accept the application package without a bank commitment letter. Board Interview: Once the Managing Agent has received the entire application package, the Managing Agent will advise if the Board wishes to proceed to interviewing the purchaser(s) or if the application is rejected. After the interview, the seller and purchaser will receive written notice of Board approval. The Board will try to act quickly, but please allow four (4) weeks for the Board approval process to be completed. If approval is given, the parties can contact the Managing Agent to schedule a closing. See also Move In, Move Out and Deliveries, above. VI. Financing and Refinancing Shareholders who wish to finance or refinance a loan for the purchase of their shares must pay the Managing Agent a $300 fee to review the loan. 12

14 Other Information: VII. Building Information 1) Bulletin Board: The lobby bulletin board is used by the Board, the Managing Agent and the Superintendent to communicate information applicable or of interest to the shareholders and residents of the Building. 2) Laundry facilities are for the use of residents only. Users are responsible for cleanliness of the laundry room. No laundry machines are allowed in the apartments without the express consent of the Board. See also Washer and Dryer Installation, above. 3) Maintenance Defaults: Maintenance is due on the first of every month. A bill is sent to you by the Managing Agent on a monthly basis to the mailing address provided by you. A late fee of $25.00 per month of the balance due will be charged if maintenance is not paid by the 10th of the month. It is presently the policy of the Corporation to refer all maintenance defaults for legal action once maintenance is ninety (90) days overdue. Pursuant to the Proprietary Lease, such legal action may include termination of the shareholder's Proprietary Lease and/or cancellation of the shareholder's shares in the Corporation. Your mortgage lender will also be notified of such default. Any costs of enforcing and/or pursuing arrears shall be the responsibility of the shareholder. 4) Special assessments: Special assessments may be imposed by the Board at any time to pay for extraordinary items (e.g., capital improvements, building repairs, replenishment of reserves or if necessary, operating shortfalls). As with maintenance, assessments are prorated according to share ownership and billed to the shareholder's maintenance account. 5) Shareholder Repairs: As specified by the By-laws and Proprietary Lease, shareholders are responsible for the interior of their apartments, including the finishes of the interior walls and window frames, sashes and sills, floors and ceilings; maintenance and replacement of all exposed plumbing, gas and heating fixtures and equipment, sinks, cabinets, bowls and tubs as well as all appliances. For a more explicit definition of the shareholder's responsibility as to repairs, see Section 16B of the Proprietary Lease. Also see Superintendent, below. 6) Vermin: New York City houses a large population of rats, mice, pigeons, cockroaches and bedbugs. Besides being unpleasant, they spread disease and can affect your health. Please do not leave food out in your apartments and plug up holes through which they may enter. Please do not feed pigeons on your fire escape and/or window sill or in the courtyards. An exterminator has been hired by the Corporation to provide service to the Building twice a month. Residents can request an exterminator by putting their names on the designated list on the bulletin board or by notifying the Superintendent. 13

15 VIII. Communication from Shareholders If you have suggestions or complaints, please feel free to share them with the appropriate persons (Board of Directors and Managing Agent), whose responsibilities and contact information are listed below. We take your concerns seriously. Complaints regarding the service of the Building must be made in writing to the Managing Agent. Serious complaints should be made in writing, with a copy to the Board. We suggest you keep copies of all correspondence for your files. IX. The Superintendent A portion of the maintenance that you pay every month goes toward the salary of our full-time resident Superintendent. The Superintendent is the only employee of the Corporation. He reports to and is supervised by the Managing Agent, who visits the building regularly. The Superintendent's working hours are from Monday to Friday between the hours of 8:30 AM and 4:30 PM, except weekends and holidays «New Year's Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day and Christmas Day). However, the superintendent is on call to respond to emergencies that may arise in the building 24 hours, 7 days a week. It is customary in New York City for apartment residents to give the Superintendent a tip at end of year holidays and when he does something special for you. Whether or not you choose to tip the Superintendent and how much you give him is entirely up to you. The Corporation customarily gives the Superintendent a nominal holiday bonus as well. Other responsibilities: A. Housekeeping, cleaning and maintaining the proper appearance of the exterior and interior of the Building (including garbage cans, light fixtures, and snow removal, etc.), all common areas and all work areas and machine rooms (e.g., boiler and meter rooms); B. Supervision of regular preventative maintenance on the boiler and the heat and hot water systems; C. Coordinating fuel deliveries and monitoring the electric meters; D. Maintaining the security and fire alarms and emergency lights; E. Updating and maintaining the intercom panel, building directory and mailboxes; F. Being on-call for emergencies 24 hours a day/7 days a week; G. Enforcing the Corporation's policies, such as move in/move out rules; H. Performing and/or supervising repairs in conjunction with service personnel; and I. Obtaining and securing all apartment keys for emergency use. Repairs: The Superintendent will respond to the requests of all Building residents for maintenance. This includes, but is not limited to, faucet washers, fuses, light switches and other standard parts as specified by the By-laws and Proprietary Lease that are subject to wear and tear and require periodic replacement. In order to queue for nonemergency repairs, fill out a Work Order form, which is located outside the Superintendent's office. See also Work Orders, above. If the repair is the responsibility of the Corporation, the Superintendent will fix it or refer the situation to the Managing Agent for repair; the parts and supplies will be charged to the Corporation. If the repair is the responsibility of the individual shareholder, it is not part of the Superintendent's job and the shareholder must do the work him/herself or hire someone to do it. The shareholder may negotiate with the Superintendent to do the job for an independent fee, and the shareholder must pay for the needed parts and supplies. If the work remains undone and jeopardizes the welfare of other shareholder's property, the Corporation has the right to make repairs and bill back to the offending shareholder for the cost of the repairs. Please note that the shareholder is not required to hire the Superintendent. 14

16 Directory Superintendent: Luis Mercado Cell Office Basement apartment to the right of the elevator Managing Agent: Iris Whitaker Argo Real Estate LLC 50 West 17th Street - 7th Floor New York, NY Main Telephone (212) Fax (212) Direct Telephone (212) irisw@argo.com/mgmt@3117.org 1) Board Members: The Board of Directors of 3117 Broadway Owners Corporation is elected at the yearly shareholders' meeting. The names and contact numbers (and/or addresses) for the directors are posted shortly thereafter on the lobby bulletin board. In addition, the Managing Agent distributes a memo following the annual shareholders' meeting listing the names of the newly elected board. Board of Directors Dave Moodey Deborah Bass Clive Belfield Sam Fenster Dan Silver board@3117.org DMoodey@metopera.org dbass90@aol.com belfield@tc.columbia.edu sam@samfenster.org djsilver@silverarchitecture.com 15