MITCHELL GARDENS #2 CO-OP CORP. 28-02 141 Street Flushing, New York 11354 PROCEDURE FOR SALE OF APARTMENT: The following procedure must be followed for the Resale of a Cooperative Apartment. No Resale may occur without first sending written notification of your intent to sell to the Board of Directors of MITCHELL GARDENS #2 CO-OP CORP. Purchaser must submit ONE (1) Original with the following fees in certified check or money order ONLY (except where noted): 1. $350.00 Non-Refundable Processing Fee, made payable to John B. Lovett & Associates & Ltd. 2. $75.00 per Applicant for Credit Check, made payable to John B. Lovett & Associates & Ltd. 3. $500.00 Non-Refundable Application Fee, made payable to MITCHELL GARDENS #2 CO-OP CORP. 4. Provide a copy of your driver s license or other picture ID. At closing, the following fees will apply: Refundable move in fee of $1,000 made payable to MITCHELL GARDENS #2 CO-OP CORP. (payable at closing by BUYER). Refundable move out fee of $1,000 made payable to MITCHELL GARDENS #2 CO-OP CORP. (payable at closing by SELLER). $300.00 Non-Refundable Administrative Fee, made payable to MITCHELL GARDENS #2 CO- OP CORP. (payable at closing by SELLER). Non-Refundable Acquisition fee of $5 per share made payable to MITCHELL GARDENS #2 CO-OP CORP. (payable at closing by BUYER). Waiver of option fee of $3,000 per room made payable to MITCHELL GARDENS #2 CO-OP CORP. (payable at closing by SELLER). In addition, co-op attorney s fee plus applicable Maintenance fees and all arrears will be settled at that time. Upon receipt of completed purchase application, packages will be forwarded to the Board of Directors for their review and approval. The Managing Agent will contact applicant(s) within thirty days of submitting the completed application package. Revised March 2012 - PC Page 1
PLEASE NOTE THE FOLLOWING IMPORTANT INFORMATION / REQUIREMENTS: A CREDIT SCORE OF UNDER 650 WILL BE AN AUTOMATIC DENIAL. BANK INFORMATION MUST SHOW THE PURCHASER (S) HAS AN ACCOUNT BALANCE TO COVER AT LEAST (1) ONE YEAR MAINTENANCE. PROCESSING OF YOUR APPLICATION TAKES APPROXIMATELY 2-3 WEEKS. ALL INCOMPLETE APPLICATIONS WILL BE RETURNED TO THE SENDER. DEBT TO INCOME RATIO CANNOT EXCEED 28%. MAXIMUM FINANCING WILL BE PERMITTED UP TO 80% OF THE PURCHASE PRICE (DOWN PAYMENT CANNOT BE LOWER THAN 20% OF PURCHASE PRICE). ALL FEES MUST BE SUBMITTED IN THE FORM OF A MONEY ORDER OR CERTIFIED CHECK. NO DOGS ALLOWED. FLIP TAX POLICY: (DUE AT CLOSING) IS CALCULATED AT $3,000 PER ROOM AND IS PAID BY THE SELLER. HOMEOWNERS INSURANCE MUST BE PROVIDED AT TIME OF CLOSING BY BUYER PURCHASER(S) CANNOT SUBLET UNIT. THIS BUILDING IS PRIVATELY OWNED AND NOT PART OF THE MITCHELL LAMA PROGRAM. THIS BUILDING IS NOT A CONVERSION AND WAS ORIGINALLY BUILT AS A COOPERATIVE. THIS BUILDING DOES NOT HAVE A PROSPECTUS OR A PROPRIETARY LEASE. THE NUMBER OF PEOPLE RESIDING IN THE APARTMENT MUST NOT EXCEED THE FOLLOWING STANDARDS: 2 PEOPLE IN A ONE BEDROOM APARTMENT 4 PEOPLE IN A TWO BEDROOM APARTMENT 5 PEOPLE IN A THREE BEDROOM APARTMENT Sincerely, John B Lovett & Associates, Ltd. Phyllis Cassar Management Office Phone (718) 539-1041 Fax (718) 461-2894 Email phyllis@lovettrealty.com Revised March 2012 - PC Page 2
MITCHELL GARDENS #2 CO-OP CORP. 28-02 141 Street Flushing, New York 11354 Dear Applicant (s): As a general rule, MITCHELL GARDENS #2 CO-OP CORP. requires an applicant s debt ratio to be 28% or lower. Debt Ratio is calculated as follows: Annual debt divided by annual gross income Debt includes the following elements + Annual maintenance on purchase apartment + Annual assessments on purchase apartment + Annual mortgage for purchase apartment + Annual payments on other outstanding mortgages + Annual loan payments (cars, student loans, home equity, etc.) + Annual minimum credit card payments + Other financial obligations = Total Annual Debt. Example: 1. Gross Annual Income = $100,000 Exclude capital gains, if non re-occurring when entering annual income 2. Total Annual Debt = $28,000 3. $28,000/$100,000 =.28 (28% Debt Ratio) Revised March 2012 - PC Page 3
MITCHELL GARDENS #2 CO-OP CORP. 28-02 141 Street Flushing, New York 11354 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 March 2012 - PC Page 4
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 two (2) 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 brokers 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 the 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 two week processing period. After the application is processed and submitted to the Board you will be advised, via telephone, or e-mail, on the next step of the process. Please provide an e-mail address below and advise our office who will be the point person, (main contact). Please be advised that all parties will not be called/emailed, only the main contact. Brokers: Please replace your Purchase Application every three (3) months to make sure that you have a current one. Submission of old packages will cause delays in the processing. Call our office and updated packages could be mailed to you. Please provide your bank/mortgage broker/appraiser with the attached information. Thank you for your cooperation. Revised March 2012 - PC Page 5
MOST REQUESTED ITEMS THAT YOU MAY NEED FOR PURCHASE AND REFINANCE (Do not submit any of the below fees unless items are requested by your bank) Please note personal checks will not be accepted. All payments must be in the form of a bank certified check, money order or company checks, payable to John B. Lovett & Associates, Ltd. Credit Cards are not accepted. Please note all contact information and fees for the following items: ITEM COST CONTACT PERSON CONTACT # MISC. INFO Bank Questionnaire $125 Phyllis (718) 539-1041 Please mail $125 with questionnaire and reference the Building & Apartment #. Building Insurance $0.00 (Free) Phyllis (718) 539-1041 Financials $20 Phyllis (718) 539-1041 Please note we charge $20 for each year. Payment must be received with request By-Laws $20 Phyllis (718) 539-1041 Please note we charge $20 for each copy. Payment must be received with request ALL PAYMENTS, FORMS & / OR REQUESTS SHOULD BE SENT TO: MITCHELL GARDENS #2 CO-OP CORP. Attention: Phyllis Cassar 28-02 141 Street Flushing, New York 11354 Revised March 2012 - PC Page 6
MITCHELL GARDENS #2 CO-OP CORP. 28-02 141 Street Flushing, New York 11354 PURCHASE APPLICATION Managed by: John B. Lovett & Associates, Ltd. 109-15 14 th Avenue College Point, New York 11356 718-445-9500 TABLE OF CONTENTS Cooperative Purchase Application > > > Section 1 Financial Condition (Net Worth) > > > > Section 2 Contract of Sale > > > > > > Section 3 Financing Information > > > > > Section 4 Federal Tax Returns > > > > > Section 5 Letter from Previous Landlord > > > > Section 6 Personal Loans > > > > > > Section 7 Letter from Employer > > > > > Section 8 Personal Reference Letters > > > > Section 9 Substantiating Documentation > > > > Section 10 Revised March 2012 - PC Page 7
SECTION I COOPERATIVE PURCHASE APPLICATION Revised March 2012 - PC Page 8
MITCHELL GARDENS #2 CO-OP CORP. John B. Lovett & Associates, Ltd. 28-02 141 Street 109-15 14 th Avenue Flushing, New York 11354 College Point, New York 11356 PURCHASE APPLICATION FOR COOPERATIVE PURCHASER (S) INFORMATION: Purchaser: Purchaser: Purchaser s Attorney: Telephone: Fax: Attorney s Firm and Address: SUBJECT BUILDING INFORMATION: Building: Apartment No.: Number of Shares: Monthly Maintenance:$ Purchase Price: Name on Stock Certificate and other documents: BANK INFORMATION: Financing: No Yes Amount: Bank: BROKER INFORMATION: Broker: Company: Address: Telephone: SELLER (S) INFORMATION: Seller s Name: SSN: Seller s Name: SSN: Forwarding Address: Telephone: Seller s Attorney: Telephone: Attorney s Firm and Address: Anticipated Closing Date: Anticipated Date of Possession: Revised March 2012 - PC Page 9
INFORMATION REGARDING PURCHASER(S) Purchaser: Home Address: Cell #: Work #: Email: Length of Occupancy: Rent: Employer s Company Name & Address: Telephone: Supervisor: Salary Per Annum: Commission & Bonus: Spouse/Co-Applicant: Employer s Company Name & Address: Telephone: Supervisor: Salary Per Annum: Commission & Bonus: Name of all persons and relationships who will reside in apartment and, if children, please state age: Name of all residents in the building known by applicant: Does applicant wish to maintain any pets? If so, please specify: Does Applicant plan alterations to apartment? If so, please specify: LANDLORD REFERENCES: Present Landlord or Agent: Address: Telephone: Previous Landlord or Agent: Address: Address of previous residence and approximate length of occupancy: Revised March 2012 - PC Page 10
INFORMATION REGARDING PURCHASER(S) FINANCIAL REFERENCES: (Please list first the bank, type of account (savings, checking, money market, etc.) and account number with the most assets). a. Bank: Address: Type of Account: Account Number: b. Bank: Address: Type of Account: Account Number: c. Bank: Address: Type of Account: Account Number: d. Bank: Address: Type of Account: Account Number: e. Bank: Address: Type of Account: Account Number: f. Certified Public Accountant, if any: Address: g. For information regarding source(s) of income, contact: Revised March 2012 - PC Page 11
INFORMATION REGARDING PURCHASER(S) BUSINESS PROFESSIONAL REFERENCES: 1. Name & Address: 2. Name & Address: 3. Name & Address: 4. Name & Address: SPECIAL REMARKS: Please give any additional information which may be pertinent or helpful: The undersigned hereby affirms that the information contained in this application is true and accurate to the best of her knowledge and belief. Signature of Purchase Applicant: Signature of Spouse/Co-Applicant: Revised March 2012 - PC Page 12
SECTION 2 FINANCIAL CONDITION (NET WORTH) Revised March 2012 - PC Page 13
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: PURCHASER & SPOUSE SOURCE OF INCOME Base Salary: S/E Income: Bonus & Commissions: Dividends & Interest Income: Real Estate Income (Net): Spouse Income (specify): Other Income itemize: Total Annual Income: Revised March 2012 - PC Page 14
STATEMENT OF FINANCIAL CONDITION (continued) CONTINGENT LIABILITIES GENERAL INFORMATION 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 taken bankruptcy?: Explain: Personal Bank Accounts carried at: Savings & Loan Account at: Purpose of Loan: 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 Revised March 2012 - PC Page 15
STATEMENT OF FINANCIAL CONDITION (continued) SCHEDULE OF NOTES PAYABLE Specify any assets pledged as collateral, indicating the liabilities which they secure: To Whom Payable Date Amt 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 Purchase Applicant: Signature of Spouse/Co-Applicant: Revised March 2012 - PC Page 16
SECTION 3 INSERT CONTRACT OF SALE HERE Corporation requires a minimum cash down payment of 20% of the purchase price. (The maximum financing is 80%) Revised March 2012 - PC Page 17
SECTION 4 INSERT COMMITMENT LETTER, 3 ORIGINAL AZTEC RECOGNITION AGREEMENTS, AND OTHER FINANCING INFORMATION HERE Revised March 2012 - PC Page 18
SECTION 5 INSERT LAST TWO (2) YEARS FEDERAL TAX RETURNS (FULL COPY) WITH W-2 FORMS HERE Revised March 2012 - PC Page 19
SECTION 6 INSERT LETTER FROM PREVIOUS LANDLORD INDICATING LENGTH OF STAY & CURRENT PAYMENT HISTORY HERE Revised March 2012 - PC Page 20
SECTION 7 INSERT LIST OF ANY PERSONAL LOANS HERE Revised March 2012 - PC Page 21
SECTION 8 INSERT LETTER FROM EMPLOYER STATING EMPLOYMENT PERIOD & CURRENT SALARY & COPY OF LAST 3 PAY STUBS HERE Revised March 2012 - PC Page 22
SECTION 9 INSERT TWO (2) PERSONAL REFERENCE & ONE (1) BUSINESS REFERENCE LETTERS HERE Revised March 2012 - PC Page 23
SECTION 10 INSERT SUBSTANTIATING DOCUMENTATION SUCH AS, BANK STATEMENT, IRA, CD, SAVINGS, AND ANY OTHER ASSETS (LAST THREE MONTHS OF EACH) HERE Revised March 2012 - PC Page 24
ACKNOWLEDGMENTS AND AUTHORIZATIONS Revised March 2012 - PC Page 25
TABLE OF CONTENTS Acknowledgment for Parking > > > > Section 1 Window Guard Questionnaire (Appendix A) > > Section 2 Move-In/Move-Out Security Deposit Form > > Section 3 Credit Agency Authorization > > > > Section 4 Nameplate Request and Key Approval > > > Section 5 Lead Disclosure Statements > > > > Section 6 Rules and Regulations > > > > > Section 7 Revised March 2012 - PC Page 26
SECTION 1 ACKNOWLEDGMENT FOR PARKING Revised March 2012 - PC Page 27
ACKNOWLEDGMENT FOR PARKING MITCHELL GARDENS #2 CO-OP CORP. John B. Lovett & Associates, Ltd., Managing Agent 109-15 14 th Avenue College Point, New York 11356 718-445-9500 If there is a Parking Space rendered to the Seller of the apartment, please be advised that this parking space is not included with the sale of the apartment. The parking space will be turned over to the Shareholder Pool for the next shareholder on the waiting list. Your name is added to the list only after closing and you must complete an application at the Management Office. Please fill out the below information to be placed on the garage and parking lists. When a garage and/or parking spot become available, you will be notified by the office and would need to provide a copy of your driver s license, car insurance and registration. We will then provide you with a Mitchell Gardens 2 sticker for your car and charge a monthly fee which will appear on your maintenance bill. The monthly fees are as follows: Heated Indoor Garage: $56.25 Freestanding Garage: $45.00 Outdoor Parking: $22.00 Name: Address: Apt #: Cell #: Home #: Heated Indoor Garage: YES or NO Freestanding Garage: Outdoor Parking: YES or NO YES or NO Signature: Date: Revised March 2012 - PC Page 28
SECTION 2 WINDOW GUARD QUESTIONNAIRE Revised March 2012 - PC Page 29
WINDOW GUARD QUESTIONNAIRE 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 do not 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: John B. Lovett & Associates, Ltd. 109-15 14 th Avenue College Point, New York 11356 For further information call: Window Falls Prevention 212-676-2158 Revised March 2012 - PC Page 30
SECTION 3 MOVE IN & MOVE OUT SECURITY DEPOSIT FORM Revised March 2012 - PC Page 31
MOVE-IN/MOVE-OUT AGREEMENT MITCHELL GARDENS #2 CO-OP CORP. John B. Lovett & Associates, Ltd., Managing Agent 109-15 14 th Avenue College Point, New York 11356 718-445-9500 The undersigned hereby agree to comply with the provisions of the Rules and Regulations of Seminole 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 policy and procedures established by the Board of Directors: 1. The payment of the following fees at the time of scheduling and in advance of the Move-In: a. By certified check, bank check or money order for the MOVE IN DEPOSIT, the amount of One thousand ($1,000.00) Dollars, payable to MITCHELL GARDENS #2 CO-OP CORP. as a Security Deposit, which shall be Refunded to the undersigned, subject to the condition as hereafter provided. Move-Out: b. By certified check, bank check or money order for the MOVE OUT DEPOSIT, the amount of One thousand ($1,000.00) Dollars, payable to MITCHELL GARDENS #2 CO-OP CORP. as a Security Deposit, which shall be Refunded to the Seller, subject to the condition as hereafter provided. 2. The date of the Move-In or Move-Out from the apartment must be scheduled with the Management Office one week in advance at the following numbers: 718-539-1041 It is understood that the total amount of the Security Deposit shall be forfeited if the resident fails to do the following: a. Schedule the Move-In or Move-Out of property with the Management Office (or arrange for the delivery or removal of property from the apartment at other than the time scheduled). b. Moving in/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. NO EXCEPTION WILL BE MADE. 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 the monitoring and supervision of the Move-In or Move-Out. 4. In addition, a Certificate of Insurance from your moving company for Workmen s Compensation and Public 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. The certificate must name MITCHELL Revised March 2012 - PC Page 32
GARDENS #2 CO-OP CORP. and John B. Lovett & Associates, Ltd. as Additional Insured. Upon submission of this certificate, building superintendent will advise the moving company with proper service entrance for move in/out. 5. The undersigned shall be responsible for damages caused in the common elements of the MITCHELL GARDENS #2 CO-OP CORP. during the process of the Move-In or Move-Out. 6. The cost for repairs and replacements for damages to the common elements caused by and during the Move-In or Move-Out shall be deducted from the amount of the Security Deposit. The amount of the cost for any repairs and replacements resulting from the damages attributed to the Move-In or Move-Out from the apartment shall be the sole determination of the Managing Agent which shall be based upon prevailing costs for similar repairs and replacements. 7. It is understood that the MITCHELL GARDENS #2 CO-OP CORP., shall return to the undersigned the full amount of the Security Deposit or the net amount of the Security Deposit after deducting the amount of the cost of repairs and 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 should be sent to the forwarding address indicated below. 8. It is further understood that the amount due or payable to the undersigned from the SECURITY DEPOSIT may not be assigned to another party. AGREED: DATE OF MOVE: Name of Shareholder: Apt. No.: Signature of Shareholder: Date: Name of Purchaser: Date: Signature of Purchaser: Forwarding Address for return of Move-Out Deposit (Please print name and address clearly). If the unit is currently vacant and a Move-Out Deposit is not required, please indicate N/A below. Phone Email Revised March 2012 - PC Page 33
SECTION 4 AUTHORIZATION FOR CREDIT AGENCY Revised March 2012 - PC Page 34
RE: Authorization to release information for tenant consideration. I hereby authorize your company or any agent of your company to contact any of my present or previous landlords, co-op boards, neighbors, employers, financial institutions, employers, or to contact schools, companies, credit bureaus, corporations, law enforcement agencies, educational institutions, departments of motor vehicles, criminal courts, and public utilities to supply any information concerning my background. I also hereby release any of the above from any liability or responsibility arising from their doing so. This research may be performed for information dating back for the past seven (7) years. I hereby also authorize your company or agent to obtain my personal credit report. I believe, to the best of my knowledge, that all information I have provided is accurate, true and correct and that I fully understand the terms of this release. Applicant #1 Following to filled out by APPLICANT Print Name: (Last) (First) (Middle Initial) Date of Birth: Social Security #: Current Address: Telephone Number: Email: Signature: Date ------------------------------------------------------------------------------------------------------------------------------- Applicant #2 Print Name: (Last) (First) (Middle Initial) Date of Birth: Social Security #: Current Address: Telephone Number: Email: Signature: Date Revised March 2012 - PC Page 35
(Duplicate this Form if there is more than one applicant) The following portion of the form (listed below) is to be filled out by employer only: Employer Name: Employment Address: Employer Phone No: Applicant s Job Title: Applicant s years with company: Applicant s annual salary: Signature of employer or supervisor: Date: Revised March 2012 - PC Page 36
SECTION 5 NAMEPLATE REQUEST & KEY APPROVAL Revised March 2012 - PC Page 37
NAME PLATE REQUEST & KEY APPROVAL MITCHELL GARDENS #2 CO-OP CORP. John B. Lovett & Associates, Ltd. 109-15 14 th Avenue College Point, New York 11356 718-445-9500 Please complete the information requested on the form and acknowledge if you will supply the superintendent with a set of keys upon moving into your apartment. Apt. No.: Building Address: Name on Mailbox: Name on Directory: I (we) acknowledge that a set of keys to the apartment will be given to the superintendent upon moving in. Signature: Date: Revised March 2012 - PC Page 38
SECTION 6 LEAD DISCLOSURE STATEMENTS Revised March 2012 - PC Page 39
DISCLOSURE OF INFORMATION ON LEAD-BASED PAINT AND LEAD-BASED PAINT HAZARDS Lead Warning Statement Every purchaser 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 leadbased paint hazards. A risk assessment or inspection for possible lead-based paint hazards is recommended prior to purchase. Seller 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 be present in the housing (explain): ( ) Seller has no knowledge of lead-based paint and/or lead-based paint hazards in the housing. b) Records and reports available to the seller (check one below): ( ) Seller has provided the purchaser with all available records and reports pertaining to lead-based paint and/or lead-based paint hazards in the housing (list documents below). ( ) Seller has no reports or records pertaining to lead-based paint and/or lead-based paint hazards in the housing. Purchaser s Acknowledgments (initial) c) Purchaser has received copies of all information listed above. d) Purchaser has received the pamphlet Protect Your Family from Lead in Your Home. e) Purchaser 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 lead-based paint and/or lead-based paint hazards. Agent s Acknowledgment (initial) (f) Agent has informed the seller of the seller 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. Seller: Date: Seller: Date: Agent: Date: Agent: Date: Revised March 2012 - PC Page 40
Purchaser: Date: Purchaser: Date: No sub-leasing of apartments. RULES AND REGULATIONS Practice energy saving habits. Do not run air conditioning when not home. Call office immediately to report all leaks, running water and if radiators are noisy, hissing, or leaking. Do not leave lights on when not in the room. No washing machines are allowed in an apartment. There is a card operated laundry room in the basement. Inquire in the office about obtaining a card. Exterminator service is performed twice monthly (second Saturday and fourth Wednesday of each month) at No Charge. Please call the office to arrange. No dogs allowed. We are wired for cable TV you have to call Time Warner or Verizon for a hook-up. You are responsible to pay for the hook-up. We also have a master antenna without a monthly fee with limited channels. Flip Tax (waiver fee) is paid when you move out of the apartment. The rate is $3,000 per room (effective April 1, 2011). Shareholders selling their apartments and buying another apartment within Mitchell Gardens #2 (whether smaller or larger) will be subject to the flip tax. There is a $10.00 service charge when a maintenance man enters your apartment to make repairs. You must pay for the parts (light switches, outlets, broken drain line, etc). There is a security patrol at night. Maintenance bills are put under your door. Payments must be made by the 5 th of each month. You may mail a check, pay on-line or pay via ACH. If monies are received after the 10 th of the month, a $100 late fee will be added. Late fees will NOT be reversed. There is a waiting list for parking spots and garages. If you need either, please fill out the form with the management office. Spots are $22 and garages are $45 a month. Insurance and car registration must always be up-to-date and copies supplied to the management office as required. Dishwashers are $8.00 per month and installation must be checked by management. Shareholder must carry homeowners insurance and proof of such must be brought to the management office upon buying your apartment and also when renewed annually. Air conditioners under 10,000 BTUs are $12.00 per month, and 10,000 or above BTUs are $17.00 per month. Air conditioners must be in installed according to the manufacturer s instructions. No air conditioner should impede traffic on a fire escape in case of emergencies. Air conditioners are the responsibility of the shareholder and must be replaced if they are rusted and staining the façade of the property, excessively leaking or otherwise not in good condition. Window guards should be installed by management if you have a child under 11 years of age. Contact management office. Revised March 2012 - PC Page 41
All renovations require the completion of an agreement and appropriate vendor insurance, licenses, etc. as well as approval by management. Please see management office before starting any renovation including new carpeting, painting, bath and kitchen renovations, etc. All moving out/in must be done through the basement. All delivers of large appliances (refrigerator, stove, tv, furniture, etc) must be made though the basement entrance. Appropriate insurance from the moving company is required check with the management office. There is a refundable fee of $1,000 for move ins and move outs. Name: Date: Address: Revised March 2012 - PC Page 42
LAST PAGE OF THIS DOCUMENT Revised March 2012 - PC Page 43