HomeMy WebLinkAboutL 13093 P 377 SUFFOLK COUNTY CLERK
RECORDS OFFICE
RECORDING PAGE
Type of Instrument: ASSIGNMENT OF LEASES / RENTS Recorded: 03/03/2021
Number of Pages: 9 At: 05:35: 13 PM
Receipt Number : 21-0041901
MORTGAGE NUMBER: DL058402
LIBER: D00013093
PAGE : 377
District: Section: Block: Lot:
1000 042 . 00 01. 00 024 . 000
EXAMINED AND CHARGED AS FOLLOWS
Received the Following Fees For Above Instrument
Exempt Exempt
Page/Filing $45. 00 NO Handling $20 . 00 NO
COE $5. 00 NO NYS SRCHG $15 . 00 NO
Affidavit $5 . 00 NO TP-584 $0 . 00 NO
Notation $0 . 50 NO Cert.Copies $0 . 00 NO
RPT $400. 00 NO
Fees Paid $490 . 50
THIS PAGE IS A PART OF THE INSTRUMENT
THIS IS NOT A BILL
JUDITH A. PASCALE
County Clerk, Suffolk County
❑} O
RECORDED
2021 flar 03 05:35:13 PH
JUDITH A. PASCALE
Number of pages - - --i CLERK OF
SUFFOLK COUNTY
L D00013093
X013093
This document will be public P 377
record.Please remove all , _ s. '` +'; A058402
Social Security Numbers r
prior to recording.
Deed/Mortgage Instrument 'Deed/Mortgage Tax Stamp` Recording/Filing Sta'mp`s
3 FEES
. " '' Mortgage Amt:
Page/Filing Fee , r
' 1.Basic Tax
Handling 20. 00 2. Additional-Tax
TP-584 Sub Total
SpecJAssit.
Notationor
EA-5217(County) SubTotal_ � Spec./Add. J
EA-S217(State)
TOT.MTG.TAX
"� Dual Town Dual County _
R.P.T.S.A. .� Held for Appointment i';-
Comm.of Ed. -
5. 00 i Transfer Tax "' t
,,_tt
idawt �i 46) ' • Mansion Tax
lf® The property covered by this mortgage is
Certified Copy , .
or.--will be improved'•by 'a one or two
family dwelling only
NYS Surcharge 15. 00
Sub Total YES `or Ndc''
Other �. �j J i� - •,.
Grand Total (J If NO, see appropriate tax clause on
,� . !, r• page 1t- -of this instrument-,
Q 1 Dist. 1001 4392868 1 1b 5 Community Preservaiion fund.
Real Property P T S I I l Consideration Amount$
Tax Service R SMI A 1
Agency 12fEB-21 CPF Tax Due $ -
Verification
T Improved._•..
6 Satisfactions/Discharges/Releases List Propeity Owners Mailing Address
RECORD&RETURN TO: Vacant Land
BNB Bank TD
Commercial Loan-Documentation . TD
898 Veterans Memorial Highway,Suite 560
Hauppauge,NY 11788 TD
Mail to:Judith A.Pascale,'Suffoik bounty Clerk 7 Title Company Information
310 Center Drive, Riverhead, NY 11901 Co.Name Bridge Abstract LLC
www.suffolkeountyny.gov/clerk Title# BALRE5022S
Suffolk County Recording & Endorsement Page
This page forms part of the attached Assig meat of Leases and Rents/255 Aff. made
by: (SPECIFY TYPE OF INSTRUMENT)
North Fork Housing Alliance.Incorporated The premises herein is situated in
SUFFOLK COUNTY,NEW YORK.
TO In the TOWN of Southold
BNB Bank In the VILLAGE
or HAMLET of Greenport
BOXES 6 THRU 8 MUST BE TYPED OR PRINTED IN BLACK INK ONLY PRIOR TO RECORDING OR FILING. -•
Y over
T .MI A�� x �RS
Stat ID: 4392868 y 12_I=EB-21
Tax Maps
District Secton Block Lot School District
1000 04200 0100 024000 GREENPORT
1001 00400 0600 031000 GREENPORT
`tA6 COLLATERAL ASSIGNMENT OF LEASES AND RENTS
S�
This Assignment made as of this 17th day of December, 2020, by and between NORTH FORK
HOUSING ALLIANCE,INCORPORATED,a New York corporation having a business address at 116
South Street, Greenport, New York 11944 ("Assignor") and BNB Bank, with an office at 898 Veterans
Memorial Highway, Suite 560, Hauppauge, New York 11788 ("Assignee");
WITNESSETH :
Assignor is the fee owner of premises known as Property is located at (i) 220 Oak Street,
Greenport,New York 11944 described as SCTM: District 1001, Section 42, Block 1, Lots 24 and(ii) 116
South Street, Greenport, New York 11944 described as SCTM: District 1001, Section 4, Block 6, Lots 31
("Premises"), and has agreed to(i)enter into a Loan Agreement, dated December 17, 2020,with Assignee
for the consolidation of existing notes and mortgages into a single mortgage loan of$430,000.00, pursuant
to that certain Loan Agreement, dated December 17, 2020 ("Loan Agreement") and (ii) make a mortgage
note to Assignee in the amount of$430,000.00 ("Note") secured by a mortgag in like amount secured by
the Premises ("Mortgage"), dated December 17, 2020 and to be recorded in the Office of the Suffolk
County Clerk (the Loan Agreement, Note, Mortgage, and all other documents executed by Assignor in
connection therewith are collectively referred to as "Loan Documents"), dated December 17, 2020 and
to be recorded in the Office of the Suffolk County Clerk. A ghbP kl WM !-W M°+ 4jA(9 R4q*42-)
As a condition to making such a loan to Assignor pursuant to the Lon Documents, Assignee
requires Assignor to execute and deliver this Collateral Assignment of Leases and Rents further securing
Assignor's indebtedness to Assignee.
NOW THEREFORE, in order to better secure the payment to the Assignee of the principal
amount due under the Loan Documents, with interest now due or hereafter to become due, and of all
monetary obligations of the Assignee under and pursuant to the Loan Documents, the Assignor hereby
assigns to the Assignee all of the rents, profits and issues due and to become due from the Premises,
together with all documents, leases, agreements, service contracts and insurance policies affecting the
Premises.
1. RENTS
Upon Assignor's default under the Loan Documents, Assignee shall have the power and authority
to enter upon and take possession of the Premises and to demand, collect and receive from the tenants,
lessees or parties in possession of the Premises or part thereof, rents now due or to become due; to endorse
Assignor's name or any subsequent owner of the Premises, on any checks, notes or any other instruments
for the payment of money; to deposit same in Assignee's accounts; to give any and all instruments in
connection thereto in Assignor's name or in the name of Assignee; to institute, prosecute, settle or
discontinue any summary or other legal proceedings for the recovery of rents or profits or to recover the
whole or part of the Premises; to institute, prosecute, settle or discontinue any other legal proceeding for
the protection and security of the Premises, for damages sustained to the Premises or from any other cause
or for the abatement of any nuisance thereon. Assignee shall also have the right and power to defend any
legal proceeding brought against Assignor or any subsequent owner of the Premises arising out of the
operation of the Premises.
1
Assignment of Leases and Rents
2. AUTHORITY TO LEASE
Upon the default by Assignor under the Loan Documents, Assignee shall have the right, power
and authority to lease or rent the Premises or any part thereof; to employ an agent to manage and rent the
Premises, to make any and all improvements to the Premises deemed solely by Assignee to be necessary
for the leasing of the Premises, to maintain and keep the Premises in a rentable condition and in a good
state of repair, to purchase any and all supplies, materials and equipment deemed necessary by Assignee
in the continued operation and maintenance of the Premises, to pay all utilities, taxes and assessments for
the Premises now due and to become due which are or may become liens against the Premises, to pay the
principal and interest which are or may become due under the Loan Documents, to pay the premiums on
all insurance policies affecting the Premises which are or may become due, to comply with all orders or
notices of any governmental authority having jurisdiction over the Premises, to discharge Mechanic's
Liens or any other interests or liens filed against the Premises either by payment to the lienor or by filing
with the appropriate court a bond pursuant to court order, and to pay all charges and expenses incurred in
the operation of the Premises.
3. EXPENSES
The Assignee shall have the authority, which is expressly given by Assignor, to pay for all matters
from the rents and revenues collected from the Premises. These costs and expenses and any other payment
made by Assignee in connection with the operation of the Premises, including reasonable attorneys' fees,
shall be a charge to Assignor and for any and all purposes shall be deemed to be secured by the Loan
Documents and may be deducted from the rents and profits received from the operation of the Premises.
4. ASSIGNEE'S LIABILITY
Except for the willful malfeasance or gross negligence of Assignee,the Assignee shall not be liable
for any act or omission but shall only be liable to account for moneys received by Assignee.
Notwithstanding the foregoing, nothing herein contained shall be deemed to prejudice Assignee's rights
to institute and prosecute the foreclosure of the Mortgage or to enforce any lien on other collateral which
the Assignee has or to prejudice any other right of Assignee which may arise due to Assignor's default
under the Loan Documents.
5. ASSIGNMENT OF LEASES UPON DEFAULT
In the event of a default under the Loan Documents, Assignor hereby assigns and transfers to
Assignee all the leases and subleases, if any, made to the occupants of the Premises and all of its right,
title and interest to the security stated in those leases and subleases and the Assignor further authorizes
and empowers Assignee to honor the terms, conditions and provisions of the leases and subleases or to
rent any one or more of the units in the Premises upon such terms, conditions and provisions as Assignee,
in its sole discretion deems prudent and to execute any and all documents necessary to accomplish that
end. Assignee shall have the full power and authority to do any and all acts with respect to the Premises
as the Assignor might or be permitted to do, with full power and substitution and Assignor hereby
expressly ratifies and confirms those acts which might be done by Assignee.
2
Assignment of Leases and Rents
G. LEASE MODIFICATION
Assignor will not, except if expressly permitted in the Loan Documents, without the prior written
consent of Assignee cancel, modify or surrender any lease now or in the future existing with respect to
any unit in the Premises; abate or reduce any rent due under any lease; modify, alter or amend any of the
terms, provisions and conditions of any lease; and/or execute any new lease for any unit in the Premises,
except that the Assignor may do so in the normal course of business, provided that Assignor is not then in
any uncured default past applicable notice and cure period(s) and provided that the Assignor provides
prior written notice of the same to the Assignee.
7. ACCOUNTABILITY
Assignee, except for its acts of gross negligence or willful misconduct, shall not be liable or
responsible in any way for the failure to account or fraud or defalcation of rents received by Assignee's
agent designated to manage the Premises or collect the rents. Assignee shall in no way be liable for its
failure or refusal to make repairs to the Premises nor for any debt incurred in connection with the operation
of the Premises.
S. DEFAULT
Notwithstanding anything to the contrary contained in this Collateral Assignment of Leases and
Rents, the default provisions contained in the Loan Documents shall in no way be affected by the terms,
provisions and conditions contained in this document.
4. ASSIGNEE'S RIGHT IN THE COLLATERAL
This Collateral Assignment of Leases and Rents supplements the Loan Documents. It is expressly
agreed by the parties hereto that the rights and powers given to Assignee contained in this document shall
in no way prejudice or estop the Assignee in the exercise of the rights afforded to it in the Loan Documents
or against any other collateral of Assignor that Assignee may have.
10. SURPLUS
Except as required by law, Assignee may but shall be under no obligation to do so, turn over to
the Assignor any surplus moneys which the Assignee may have after paying all expenses incurred in
connection with the operation of the Premises and establishing a reserve fund necessary for the payment
of fixed charges due or to become due for such time as Assignee, in its sole discretion deems reasonable.
The tender by Assignee to Assignor of surplus moneys on one occasion shall not obligate Assignee to
tender surplus moneys thereafter.
11. FURTHER ASSIGNMENT BY ASSIGNEE
The Assignee may assign all of its right, title and interest in and to this Collateral Assignment of
Leases and Rents to any person or entity to whom the Loan Documents are assigned and upon such
assignment, the holder of the Loan Documents shall have all the rights and powers contained herein as if
an original party hereto.
3
Assignment of Leases and Rents
12. CONSENT
Should the Assignor be a corporation, the Assignor hereby expressly certifies that this Assignment
was approved and authorized by the board of directors of such corporation and that there is no requirement
under the corporation's certificate of incorporation or by-laws that require the consent of the shareholders.
Should the Assignor be a partnership, the execution and delivery of this Collateral Assignment of
Lease and Rents have been duly approved by its partners.
Should the Assignor be a limited liability company, the execution and delivery of this Collateral
Assignment of Leases and Rents have been duly approved pursuant to its operating agreement, or if none,
by its managing member.
13. DESCRIPTION OF PREMISES
The Premises are more particularly described on Schedule A which is attached hereto and made a
part hereof.
14. SATISFACTION OF UNDERLYING DEBT
Upon the payment in full of all indebtedness secured by the Loan Documents, Assignee shall
execute and deliver, in recordable form, a release of this Collateral Assignment of Leases and Rents.
15. ASSIGNOR'S COLLECTION OF RENTS
Provided that Assignor is not in default under the Loan Documents, Assignor shall have the right
to collect, but not more than thirty(30)days prior to accrual, all rents, issues and profits from the Premises
and to retain, use and enjoy same.
16. AGREEMENT BINDING
This Collateral Assignment of Leases and Rents shall be binding on the Assignor and its successors
and assigns and shall inure to the benefit of Assignee, its successors and assigns. This Collateral
Assignment of Leases and Rents may not be changed orally but only by an agreement in writing signed
by the parties hereto.
17. LAW GOVERNING
The terms, conditions and provisions of this Collateral Assignment of Leases and Rents shall be
governed by the laws of the State of New York without regard to conflicts of law principles.
18. PRIOR ASSIGNMENT
Assignor represents and warrants that it is the owner in fee of the Premises and has not executed
any prior assignment or pledge of any of its rights, nor are its rights encumbered, with respect to the leases
assigned hereunder, or any of the rents, income or profits due or to become due from the Premises, except
as are encumbered by the Loan Documents. Assigner further represents and warrants that it shall not
assign, pledge or encumber the leases to any party or entity during the terms of this Collateral Assignment
of Leases and Rents.
4
Assignment of Leases and Rents
WFG National Title Insurance Company
Title Number: BALRE5022S
Page 1
SCHEDULE A DESCRIPTION
Parcel l
ALL that certain plot, piece or parcel of land, with the buildings and improvements thereon erected,
situate, lying and being at Greenport, in the Town of Southold, County of Suffolk and State of New
York, known and designated as Lot No. 68 as shown on a certain map entitled: "Map of Thomas F.
Price, Sr. Estate" and filed in the Office of the Clerk of the County of Suffolk on 12/12/1927 as Map
Number 851, which said lot is more particularly bounded and described as follows:
BEGINNING at a concrete monument on the northerly side of Oak Street where the same is
intersected by the division line between Lots 67 and 68 as shown on the aforesaid map, said point
being distant 250.00 feet westerly, as measured along the northerly side of Oak Street, from the
corner formed by the intersection of the westerly side of Sixth Avenue with the northerly side of
Oak Street;
RUNNING THENCE from said point or place of beginning along the northerly side of Oak Street,
North 75 degrees 13 minutes 20 seconds West, 50.00 feet to land now or formerly of School
District No. 10;
THENCE along said last mentioned land, North 14 degrees 46 minutes 40 seconds East, 150.00
feet to the division line between Lots 68 and 79;
THENCE along said last mentioned division line, South 75 degrees 13 minutes 20 seconds East,
50.00 feet to the division line between Lots 67 and 68 first above mentioned;
THENCE along said last mentioned division line, South 14 degrees 46 minutes 40 seconds West,
150.00 feet to the concrete monument at the northerly side of Oak Street, the point or place of
BEGINNING.
1
-f
WFG National Title Insurance Company
Title Number: BALRE5022S
Page 2
Parcel II
ALL that certain plot, piece or parcel of land, with the buildings and improvements thereon erected,
situate, lying and being in the Incorporated Village of Greenport, in the Town of Southold, County
of Suffolk and State of New York, known and designated as parts of lots 106, 145, and 146 as
shown on a certain map entitled: "Map of Greenport Village" and fled in the Office of the Clerk of
the County of Suffolk on 811011838, as Map Number 9, which said parts of lots, when taken
together, are more particularly bounded and described as follows:
BEGINNING at a point on the northerly side of South Street where the same is intersected by the
easterly boundary line of land now or formerly of Zuleyha Ackay, said point being distant 88.00 feet
easterly as measured along the northerly side of South Street from the corner formed by the
intersection of the easterly side of Second Street with the northerly side of South Street;
RUNNING THENCE from said point or place of beginning along said last mentioned land, North 04
degrees 15 minutes 10 seconds West, 72.00 feet;
THENCE continuing along said last mentioned land and along land now or formerly of Mary Anne
Klipp and others, South 85 degrees 44 minutes 50 seconds West, 91.18 feet to the easterly side of
Second Street;
THENCE along the easterly side of Second Street, North 06 degrees 47 minutes 00 seconds West,
10.30 feet to land now or formerly of Rita M. Merullo;
THENCE along said last mentioned land the following two (2) courses and distances:
1. North 84 degrees 51 minutes 00 seconds East, 64.82 feet;
2. North 07 degrees 36 minutes 00 seconds West, 42.25 feet to the southerly boundary
line of"Map of Greenport Florist (Map No. 10547 filed 1211112000);
THENCE along said boundary line, North 82 degrees 13 minutes 20 seconds East, 46.84 feet;
THENCE North 83 degrees 16 minutes 40 seconds East, 63.75 feet;
THENCE South 07 degrees 07 minutes 40 seconds East, 59.31 feet; to land now or formerly of
Village of Greenport;
THENCE along said last mentioned land the following two (2) courses and distances:
1. South 85 degrees 44 minutes 50 seconds West, 34.15 feet;
2. South 07 degrees 04 minutes 00 seconds East, 71.97 feet to a concrete monument and
the northerly side of South Street;
THENCE along the northerly side of South Street, South 85 degrees 44 minutes 50 seconds West,
53.51 feet to the point or place of BEGINNING.
2
SCHEDULE B
Existing Leases
1. Landlord—North Fork Housing Alliance, Incorporated
Tenant— Lionel W. Wilson
Address— 116A South Street, Greenport,New York 11944
Effective Date--September 1, 2020
2. Landlord—North Fork Housing Alliance, Incorporated
Tenant—Danny F. Costello& Leon A Creighton, Jr.
Address— 116 South Street(Upstairs), Greenport,New York 11944
Effective Date—July 1, 2020
8
Assignment of Leases and Rents
19. LEASES
Annexed hereto and made a part hereof as Schedule B are the existing leases for the Premises. f
Any and all future Ieases executed by Assignor for the Premises shall also be included in the leases and
tents pledged as collateral pursuant to, and shall be subject to the terms and conditions of,this Assignment
Agreement.
IN WITNESS WHEREOF, the Assignor has executed this Collateral Assignment of Leases and
Rents the date and year first written above.
ASSIGNEE: ASSIGNOR:
BNB BANK NORTH FORK HOUSING ALLIANCE,
INCORPORATED
B gy.
Y
Nam414vme��r' Name: Tan almore
Title: Vice Presi nt Title: Executive Director
ACKNOWLEDGEMENT TAKEN IN NEW YORK ACKNOWLEDGEMENT TAKEN IN NEW YORK
STATE STATE
State of New York,County of Suffolk, ss: State of New York,County of Suffolk,ss:
On the day of December, in the year 2020, before me, the On the L day of December, in the year 2020, before me,the
undersigned, personally appeared Nancy Messer, personally undersigned, personally appeared Tanya Qalmore, personally
known to me or proved to me on the basis of satisfactory known to me or proved to me on the basis of satisfactory
evidence to be the individual(s) whose nante(s) is (are) evidence to be the individual(s) whose name(s) is (are)
subscribed to the within instrument and acknowledged to me that subscribed to the within instrument and acknowledged to me
he/she/they executed the same in his/her/their capacity(ies),and that he/she/they executed the same in his/her/their
that by his/her/their signature(s) on the instrument, the capacity(ies), and that by hislher/their signature(s) on the
individual(s), or the person upon behalf of which the instrument, the individual(s), or the person upon behalf of
individual(s)acted,executed the instrument. which the individual(s)acted,executed the instrument.
" y _",. N 1��c r
Notary Public Notary Public SANDRIE
SANDRA V. SAIEGH YORK
,OTARY PIIBLIC"STA7E OF NEW NOTARY PUBLIC-STATE OF NEW YORK
N0,02SA6407223 N0.02SA8407223
(Notary StanWjallfiedInSuffolk County (NotatyStamp) Qualified In Suffolk County
My Commission Expires 06`18-2024 My Commission Expires 06-18-2024
5
Assignment of Leases and Rents
,D�LRE 5o��S
AFFIDAVIT MADE PURSUANT TO
ARTICLE 11, §255 OF THE TAX LAW
STATE OF NEW YORK )
) ss.:
COUNTY OF SUFFOLK }
Tanya Palmore, being duly sworn, deposes and says:
That she is the Executive Director of North Fork Housing Alliance, Incorporated(the`Borrower"),
the owner of the property which is subject to the hereinafter described mortgages and the notes secured
thereby and is familiar with the facts set forth herein:
That the mortgage has been recorded or is submitted for recording simultaneously herewith
(collectively,the"Mortgage")on which all required mortgage tax was paid in the amount of$4,x ,00.
The Borrower has an existing mortgage with BNB Bank("Mortgagee") securing a loan in the total
principal amount of FOUR HUNDRED AND THIRTY THOUSAND and 001100 DOLLARS
($430,000.00).
Said loan is evidenced by a certain Loan Agreement from Borrower to Mortgagee dated December
17, 2020,and is secured by a Mortgage made by Borrower to Mortgagee covering the mortgaged property,
December 17, 2020 (the"Mortgage"), which will be recorded in the Office of the Suffolk County Clerk.
In connection with the foregoing Mortgage, there is herewith offered and presented to the Office
of the Suffolk County Clerk of a Collateral Assignment of Leases and Rents between Mortgagor and
Mortgagee dated December 17, 2020, by which Mortgagee is assigned certain rights in rents and other
moneys relating to the occupancy of the premises encumbered by the aforesaid Mortgage and as security
collateral to such mortgage.
Such Collateral Assignment of Leases and Rents neither creates nor secures any original, new or
further principal indebtedness or obligation in addition to or not already secured by or which under any
contingency may be secured by or which under any contingency may be secured by the aforesaid Mortgage.
[Continued on Next Page]
C1
fJ
� -nO (3
n --it ;uo � cC'.' r�- fM C. m
(ACJ
C4 '
C- -icea' o vC
ti0 r -n
%0 2 Vl G4
r4 --i C-1 cn
M r,a
This affidavit is submitted to the Office of the Suffolk County Clerk in support of the exemption
of the foregoing Collateral Assignment of Leases and Rents from the imposition or payment of mortgage
tax under Article i I of the Tax Law pursuant to provisions of Section 255 of the Tax Law of the State of
New York.
Tanya r9ore
Sworn to before the this
day of December,2020
r
otary Public SANDRA V. SAIEGH
NOTARY PUBLIC-STATE OF NEW YORK
No-02SA6407223
Quslitied In Suffolk County
My COmmis$ion Expires 05-18-2024
Section 255 Affidavit ALR