HomeMy WebLinkAboutL 13170 P 551 SUFFOLK COUNTY CLERK
RECORDS OFFICE
RECORDING PAGE
Type of Instrument: ASSIGNMENT OF LEASES / RENTS Recorded: 08/22/2022
Number of Pages: 9 At: 08 : 07 :09 AM
Receipt Number : 22-0135017
MORTGAGE NUMBER: DN026507
LIBER: D00013170
PAGE : 551
District: Section: Block: Lot:
1000 117 . 00 08 . 00 002 . 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 $200 . 00 NO
Fees Paid $290 .50
THIS PAGE IS A PART OF THE INSTRUMENT
THIS IS NOT A BILL
JUDITH A. PASCALE
County Clerk, Suffolk County
1❑F
Number of pages RECORDED
2022 Auo 22 08.07709 RII
JUDITH R. PPSCRLE
This document will be public CLERK OF
P SUFFGLK COUNTY
record.Please remove all L D00013170
Social Security Numbers P 551
prior to recording. DN026507
Deed/Mortgage Instrument Deed/Mortgage Tax Stamp Recording/Filing Stamps
3 1 FEES
Page/Filing Fee Mortgage Amt.
1.Basic Tax
Handling 20. 00 2, Additional Tax
TP-584 Sub Total
No Spec./Assit.
Notation
or
EA-52 17(County) Sub Total Spec./Add.
EA-5217(State) TOT.MTG.TAX
— Dual Town Dual County
R.P.T.S.A. Held for Appointment
Comm.of Ed. 5. 00 Transfer Tax
Affidavit • + Mansion Tax
Certified Copy The property covered by this mortgage is
or will be improved by a one or two
NYS Surcharge 15. 00 family dwelling only.
Sub Total YES or NO
Other _
Grand Total O' If NO, see appropriate tax clause on
page# of this instrument.
4 Dist. 4903029 1000 11700 0800 002000
`II �f0� 5 Community?reservation Fund
TReal ax Servee RPSIA I
jjjjjIIII��I�II�IIIu�I�il11111JillIII�111 Consideration Amount$
Agency 13 JUN-22 CPF Tax Due $
Verification
Improved
6 Satisfactions/Discharges/Releases List Property Owners Mailing Address
RECORD&RETURN TO: Vacant Land
Solc"ncAr\ AiCrt-ex's MC-C-c' rYAAC'Ic- i P\_Lcl TD
TD
Le,J� taw r, i N y [i i S cv
TD
Mail to:Judith A.Pascale,Suffolk County Clerk 7 Title Company Information
310 Center Drive, Riverhead, NY 11901 Co.Name Z�A-t'\ A%>a rct_cA-- L, _.
www.suffolkcountyny.gov/clerk
Title# 2A_-jX22
8 Suffolk County Recording & Endorsement Page
This page forms part of the attached o1 Lert-,,f-.s made
by: MPECIFY TYPE OF INSTRUMENT)
NfrYh,!0ry\L L�.0 The premises herein is situated in
SUFFOLK COUNTY,NEW YORK.
TO In the TOWN of auo-hald__
'F In the VILLAGE
or HAMLET of
BOXES 6 THRU 8 MUST BE TYPED OR PRINTED IN BLACK INK ONLY PRIOR TO RECORDING OR FILING.
over
ASSIGNMENT OF LEASES, RENTS AND PROFITS
THIS ASSIGNMENT OF LEASES, RENTS AND PROFITS (this "Assignment") is
made as of the 21" day of April 2022, by Bluebird North Fork LLC, having an address of 209
West 97th Street, New York, New York 10025 (the "Grantor"), to Florida Auto Advantage LLC
Profit Sharing Plan FBO Carolyn Kraftsow,having an address of 7411 Fisher Island Drive, Miami
Beach, Florida 33109 (the"Lender").
Pursuant to a certain Term sheet issued by Lender, Lender intends to grant to Grantor, a
loan (the "Loan") in the original principal amount of One Hundred and Seventy Thousand
($170,000.00)Dollars, which Loan is(i)evidenced by that certain Promissory Note dated of even
date herewith (together with all renewals, extensions, modifications, replacements, and
substitutions thereof or therefor,the"Note")made by Borrower and payable to the order of Lender,
in the amount of the Loan, or so much thereof as shall be advanced and remain outstanding. The
Note is secured by, among other things, a Mortgage dated as of the date hereof(as the same may
be modified or amended from time to time,the"Mortgage")from Grantor to Lender, encumbering
that certain real property with improvements with a street address of 16615 New Suffolk Avenue,
New Suffolk, New York 11956, which property is more fully described in Exhibit A hereto (the
"Premises").
As a condition of the granting of the Loan, Grantor has agreed to assign to Lender all of
Grantor's right, title and interest in and to the leases, rents, issues, and profits (herein collectively
referred to as"Rents")of and from the Premises,as additional security for the payment of the Loan
and Note and to cause all Rents to be deposited with Lender in a Lender-controlled account.
Therefore,in consideration of the granting of the Loan by Lender to Borrower,the Grantor
does hereby sell, pledge, assign, transfer, and set over unto Lender any and all leases, occupancy
agreements, proprietary leases, subleases, franchises, contracts, licenses, agreements, and other
understandings, heretofore or hereafter made, regardless of whether written or oral, and any
extensions or renewals thereof, of or relating to the Premises or any part thereof(individually a
"Lease" and collectively the "Leases"), and all of the Rents and other proceeds of and from the
Premises, including, but not limited to, any insurance proceeds heretofore or hereafter paid by
reason of any use or occupancy loss,business interruption or interruption of rental payments under
the Leases or any part thereof (herein referred to as the "Rental Insurance Proceeds"), whether
now owing or which shall hereafter become owing by virtue of any or all of the Leases and all
moneys payable thereunder,and Lender shall have and hold the same as security for the Loan,the
Note and all other amounts secured by the Mortgage.
Grantor acknowledges and agrees that the assignment of Rents hereunder to Lender is and
is intended to be an absolute present assignment of the Leases,Rents and other proceeds described
above. Nevertheless, so long as no Event of Default (as defined in the Mortgage) has occurred
under the terms of the Mortgage, or under any other instruments or documents now or hereafter
executed or delivered in connection with the Loan (collectively, the "Loan Documents"), and
continued unremedied beyond any applicable notice or cure period,the Grantor shall have a license
to collect, receive and apply for its own account all Rents accruing by virtue of the Leases or from
or out of the Premises or any part thereof, and deliver proper receipts and acquittances therefor.
1
Immediately following the occurrence of an Event of Default under the Mortgage, or the
Note, or any of other Loan Documents, the license hereinbefore referred to shall terminate. This
Assignment shall remain operative and in full force and effect upon the following terms and
conditions:
1. Grantor hereby authorizes Lender by its employees or agents, at its option,after the
occurrence of an Event of Default which has continued unremedied beyond any applicable notice
or cure period, upon notice to the Grantor, during normal business hours, to enter upon the
Premises and to demand, collect, sue for, attach, levy, recover, receive, compromise and adjust,
make, execute, and deliver proper receipts and releases for and in the name of the Grantor or in its
own name as assignee (a) Rents accrued but unpaid and in arrears at the date of such default, as
well as Rents thereafter accruing and becoming payable;and to this end,the Grantor further agrees
that it will facilitate in all reasonable ways Lender's collection of Rents and will, upon request by
Lender, execute a written notice to all tenants of the Premises (each a "Tenant" and collectively
the "Tenants") (including, without limitation, commercial Tenants)directing such Tenants to pay
Rents; and (b) all Rental Insurance Proceeds paid or thereafter to be paid by reason of any use or
occupancy loss, business interruption or interruption of rental payments under the Leases or any
part thereof, or any leases, subleases, franchises, contracts, licenses, agreements or other
understandings thereafter entered into affecting the Premises or any part thereof.
2. Grantor also hereby authorizes Lender upon such entry, at its option, to take over
and assume the management, operation and maintenance of the Premises, including without
limitation, the right to: (i) cause the Premises to be operated, maintained and repaired, and in
connection therewith to hire and pay security personnel, contractors, and other maintenance and
operating personnel, and enter into contracts and agreements with contractors, materialmen, and
suppliers; (ii)purchase public liability insurance, fire and extended coverage insurance, and any
other types of insurance coverage; (iii) hire and engage a managing agent, engineers, architects,
accountants, and attorneys; (iv) institute and prosecute suits for the collection of Rents; (v) lease
any part of the Premises; and(vi)pay all taxes,insurance premiums,wages, salaries,commissions,
fees, expenses, and charges of every kind and amount arising out of or in connection with the
foregoing(collectively the"Expenses");all to the same extent as the Grantor might do;the Grantor
hereby releasing all claims against Lender arising out of such management, operation and
maintenance (other than claims proven to have resulted from Lender's gross negligence or willful
misconduct).
3. Lender shall, after payment of all Expenses and after the accumulation of a reserve
to meet taxes, assessments, water and sewer rents, and fire and liability insurance premiums in
requisite amounts, credit the net amount of income received by it from the Premises by virtue of
this Assignment to any amounts due and owing to it by the Grantor under the terms of the
Mortgage, and Note secured thereby and/or any other Loan Document, in the following order of
priority: first to late charges and other reasonable fees payable hereunder, if any, then to accrued
and unpaid interest, and the balance, if any, in reduction of the Principal Amount (as defined in
the Note). Lender shall not be accountable for more money than it actually receives from the
Premises.
2
4. Grantor hereby represents that, to the knowledge of the Grantor, (a) the Grantor's
interest as lessor under the Leases is free and clear of all liens and it has the power and authority
to execute and deliver this Assignment; (b)any copies of any existing Leases heretofore submitted
to Lender are true, correct, and complete copies of the Leases, none of which have been amended
or supplemented except as reflected in such copies, and all of which are in full force and effect as
of the date of this Assignment; (c) the Grantor has made no assignment (other than this
Assignment) of the Grantor's interest in the Leases or of the Grantor's right to receive the Rents
due thereunder; and(d) there are no defaults under any of the Leases.
5. Grantor hereby covenants that:
(a) Further Assignments,Prepayments,Releases,etc. Without the prior written
consent of Lender,which shall not be unreasonably withheld,conditioned, or delayed,the Grantor
shall not(i)make any further assignment of the Leases or the Rents or any part thereof; (ii) accept
or permit any prepayment of Rents or other amounts due under any Leases (except for security
deposits) more than one (1) month in advance of the date when due; (iii) terminate or permit the
termination of any of the Leases except in connection with exercise in a commercially reasonable
manner of any rights after a tenant default, so long as Grantor timely provides Lender with notice
of such termination upon the earlier to occur of: (a)the date notice of termination is mailed to such
tenant, or (b) ten (10) days prior to such termination; or (iv) release or consent to the release of
any Tenant or other party liable or potentially liable under a Lease. Without limitation of the
foregoing, the Grantor hereby further covenants not to do or take any other act or to permit any
other condition in connection with any Lease which will impair or is reasonably likely to impair
the interests of Lender under this Assignment. The Grantor hereby authorizes Lender to give
written notice (but not an actual copy) of this Assignment to any Tenant.
(b) Performance .of_ Obligations. The Grantor shall faithfully meet its
obligations under all of the terms of each of the Leases and shall at all times do all things reasonably
necessary to compel performance by each other party to the Leases of all of the obligations required
of it.
(c) Payment of Expenses. The Grantor shall pay to Lender upon demand all
reasonable expenses actually incurred by Lender, including reasonable attorneys' fees, incurred .
pursuant to authority granted to Lender in this Assignment.
(d) New Leases and Amendments. The Grantor shall not enter any new Lease
(including without limitation any amendment of an existing Lease) for longer than a one (1) year
term unless such Lease (i) contains the following provision(or a provision substantially similar in
all particulars to the following provision) regarding subordination and attornment:
This Lease is and shall be, without further action by any other party, subject
and subordinate to any mortgage, or other lien presently existing or
hereafter created upon the Building or the Premises, and to any renewals
and extensions thereof, but Tenant agrees that any such mortgagee shall
have the right at any time to subordinate such mortgage, or other lien to this
Lease. Landlord is hereby irrevocably vested with full power and authority
3
to subordinate this Lease to any mortgage, or other lien hereafter placed
upon the Building or the Premises, and Tenant agrees upon demand to
execute such further instruments subordinating this Lease as Landlord may
request, and upon any failure of Tenant to do so, without limitation of
Landlord's remedies, Landlord shall have the right to execute the same as
attorney-in-fact for Tenant. Tenant hereby attoms, in accordance with the
terms of this Lease, to any lender whose interest is secured by a mortgage
affecting the Building or the Premises (the "Lender") and to any purchaser
at any public or private foreclosure sale (the "Purchaser"), such attornment
to be effective upon Lender's or Purchaser's acquisition of title to the
Building. Tenant's attornment shall not be terminated by foreclosure of
such mortgage or by deed in lieu thereof. At the request of Landlord,
Lender, and/or Purchaser, Tenant shall promptly execute any certificate or
agreement in confirmation of this attornment on Landlord's, Lender's, or
Purchaser's form for such purpose. In the event of Lender's or Purchaser's
acquisition of title to the Building, Lender and Purchaser shall not be
responsible or liable for any deposits made by Tenant to Landlord unless
such deposits are specifically assigned to Lender or Purchaser. Upon
request of a Tenant, Lender shall provide its standard non-disturbance
language.
(ii) is in a commercially reasonable form upon arms-length terms with the Tenant thereof; (iii)
provides for such rental payments and is upon such other economic terms as shall not materially
impair the value of the Premises and/or Lender's security interests under the Mortgage; and (iv)
does not contain an option for the Tenant to purchase the Property (unless otherwise agreed to in
writing by Lender). The Grantor shall provide Lender with a complete copy of any and every new
Lease (or Lease amendment) entered into by the Grantor prior to the release of record of the
Mortgage, not later than the tenth (10th) day following the date of ratification of such Lease (or
Lease amendment).
(e) Execution of Further Assurances by or on Behalf of Tenants. Upon
Lender's request, the Grantor shall cause the Tenant of any new Lease (or Lease amendment) to
execute and deliver, or upon such Tenant's failure to do so shall execute and deliver on such
Tenant's behalf as attorney-in-fact for such Tenant, a Subordination and Attornment Agreement,
Tenant Estoppel Certificate, and similar written assurances in form and substance reasonably
satisfactory to Lender, in accordance with the subordination and attornment provision required to
be contained in such Lease (or Lease amendment) under the foregoing subsection S(d)(i).
(f) Notice of Default. The Grantor shall notify Lender promptly of any default
of which the Grantor has knowledge on the part of any party to any of the Leases in the
performance of such party's obligations thereunder.
6. Following the occurrence of an Event of Default, any demand by Lender of any
Tenant for Rents pursuant to this Assignment shall be sufficient authorization for such Tenant to
pay to Lender Rents then owing pursuant to such Tenant's Lease, and it shall not be necessary for
Lender to obtain from the Grantor any further authorization or direction to such Tenant to pay
Rents to Lender,nor shall it be required of Lender to establish to the satisfaction of the Tenant that
the prerequisite default exists.
4
7. Lender shall not be liable for any loss sustained by the Grantor resulting from
Lender's failure to let the Premises or any portion thereof after default or from any other act or
omission of Lender in managing the Premises after default, except to the extent proven to have
resulted from Lender's gross negligence or willful misconduct. Lender shall not be obligated to
perform or discharge, nor does Lender hereby undertake to perform or discharge, any obligation,
duty or liability under any Lease or under or by reason of this Assignment, and the Grantor shall
and does hereby agree to indemnify Lender for and to hold Lender harmless from and against any
and all loss, cost, damage, expense, claim or liability which may or might be incurred under any
Lease or under or by reason of this Assignment, and from and against any and all claims and
demands whatsoever which may be asserted against Lender by reason of any alleged obligation or
undertaking on its part to perform or discharge any of the terms covenants or agreements contained
in any Lease,except to the extent proven to have resulted from Lender's gross negligence or willful
misconduct. Should Lender incur any such liability under any Lease, or under or by reason of this
Assignment, or in defense of any such claim or demand, the amount thereof, including reasonable
costs,reasonable expenses and reasonable attorneys' fees, shall be secured hereby and the Grantor
shall reimburse Lender therefor immediately upon demand. It is further understood that this
Assignment shall not operate to place responsibility for the control, care, management or repair of
the Premises upon Lender,nor for the carrying out of any of the terms and conditions in any Lease,
nor shall it operate to make Lender responsible or liable for any waste committed on the Premises
by Tenants, occupants or any other person, or for any dangerous or defective condition of the
Premises, or for any negligence in the management, upkeep, repair or control of the Premises,
resulting in loss or injury or death to any Tenant, occupant,licensee, employee or stranger, except
to the extent proven to have resulted from Lender's gross negligence or willful misconduct.
8. It is not the intention of the parties hereto that any entry by Lender upon the
Premises under the terms of this Assignment shall render Lender a "mortgagee in possession" in
contemplation of law, except at the option of Lender.
9. Nothing herein shall be construed as a limitation upon or variance of the terms,
conditions, covenants and agreements as in the Mortgage, the Note or any other Loan Document,
and, in particular, the rights of Lender in case of default as therein set forth shall not be, in any
manner, waived by this Assignment or the collection of Rents hereunder.
10. This Assignment shall remain in full force and effect as long as any sum due under
the Loan, the Note, and the Mortgage or any other Loan Document shall remain unpaid in whole
or in part.
11. The release of record of the Mortgage shall constitute a release of this Assignment.
The Lender shall provide a termination and release of this Assignment upon the release of the
Mortgage, which costs including attorneys fees,filing fees and recording fees shall be borne at the
Grantors sole cost and expense.
12. Whenever used,the singular number shall include the plural,the plural the singular,
and the use of any gender shall be applicable to all genders.
5
13. The provisions of this Assignment shall be binding upon the Grantor and its legal
representatives,successors and assigns,and shall inure to the benefit of Lender and any subsequent
holder of the Loan and/or Note. This Assignment shall be governed by the laws of the State of
New York without giving effect to the principles of conflicts of laws. This Assignment may not
be modified or amended, except by a written instrument signed by the person against whom such
modification or amendment is sought to be enforced.
14. In the event any one or more of the provisions contained in this Assignment, the
Mortgage, or the Note or in any other instrument or document executed in connection with the
Loan secured hereby shall for any reason be held to be invalid, illegal or unenforceable in any
respect, such invalidity, illegality or unenforceability shall, at the option of Lender, not affect any
other provision of this Assignment, the Mortgage, the Note and such other instruments and
document,but this Assignment,the Mortgage,the Note and such other instruments and documents
shall be construed as if such invalid, illegal or unenforceable provision had never been contained
herein or therein.
15. The Grantor hereby agrees that Lender shall be entitled to all rights and benefits
afforded to Lender under New York law with respect to the subject matter of this Agreement.
IN WITNESS WHEREOF,the Grantor has hereunto executed this Assignment under seal
as of the day first above written.
WITNESS: GRANTOR:
Bluebird No r LLC oo
By: AL)
Name: - L cinda Ba s, So mber
Acknowledgment by a Person Within New York State
STATE OF NEW YORK }
COUNTY OF NASSAU )ss.:
On the 211 day of April 2022 before me,the undersigned, appeared personally
Lucinda Barnes personally known to me or proved to me on the basis of satisfactory evidence to be the
individual(s)whose name(s)is(are) subscribed to the within instrument and acknowledged to me that he
executed the same in his capacity(ies),and that by his signature(s)on the instrument,the individual(s), or
the person upon behalf
�of`which the individual(s)acted, executed the instrument.
(signature and 6ffice of individual taking acknowledgment)
NOTARY PUBLIC
ASHLEIGH MARINO
Notary Public. State of New York
Registration #01 MA6346363
Qualified In Nassau County
Commission Expires Aug. 8. 202
6
EXHIBIT A
LEGAL DESCRIPTION OF PREMISES
SCHEDULE A DESCRIPTION
ALL that certain plot, piece or parcel of land, situate, lying and being at New Suffolk, Town
of Southold, County of Suffolk and State of New York, bounded and described as follows:
BEGINNING at the corner formed by the intersection of the Northerly side of Main Street
with the Westerly side of Fourth Street;
RUNNING THENCE along the Northerly side of Main Street, North 83 degrees 59 minutes
40 seconds West, 100.44 feet to land now or formerly of Geresco Realty Corp.;
THENCE along said land, North 06 degrees 48 minutes 40 seconds East, 125.00 feet to
other land now or formerly of Grocke;
THENCE along said land South 83 degrees 59 minutes 40 seconds East, 100.62 feet to
the Westerly side of Fourth Street;
THENCE along the Westerly side of Fourth Street, South 06 degrees 53 minutes 50
seconds West, 125.00 feet to the corner aforesaid at the point or place of BEGINNING.
District 1000 Section 117.00 Block 08.00 Lot 002.000
FOR INFORMATION ONLY: Premises commonly known as: 16615 New Suffolk Avenue,
New Suffolk, NY 11956
BEING AND INTENDED TO DESCRIBE the same premises as conveyed to the Grantor
herein by deed in Liber 13134 page 854.
1
RECORDED
F 2' 0S:O7:O9 pM
COLLATERAL ASSIGNMENT OF LEASES AND WE{�t y A. PASeALE
SECTION 255 AFFIDAVIT CLERK OF
SUFFOLK COUNTY
L D00013170
STATE OF NEW YORK) P 551
COUNTY OF NASSAU)ss. DH026507
MATTHEW C. MCCORMICK being duly sworn deposes and says:
1. He is an attorney at law admitted to practice in the State of New York with offices located at
2950 Hempstead Turnpike, Levittown New York and is acting as legal counsel to Florida Auto
Advantage LLC Profit Sharing Plan FBO Carolyn Kraftsow(the"Mortgagee") in connection with a
mortgage loan transaction between said Mortgagee and (the"Borrower") pertaining to
premises known as 16615 New Suffolk'Avenue, New Suffolk, in the city of New Suffolk, County of
Suffolk, and State of New York.
2. The Borrower has applied to Mortgagee for a loan in the total principal amount of$170,000.00
3. Said loan will be evidenced by a certain Note from Mortgagor to Mortgagee dated April 21,
2022.and will be secured by a Mortgage and Security Agreement made by Mortgagor to
Mortgagee covering the mortgaged property, dated April 21, 2022, (the "Mortgage") ,which is
intended to be recorded in the County Clerk's office prior to the recording of this Agreement.
4. In connection with the foregoing Mortgage and Security Agreement there is herewith offered
and presented to the Clerk of the County of a Collateral Assignment of Leases and Rents
between said Mortgagor and Mortgagee dated April 21, 2022, 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.
5. 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.
This affidavit is submitted to the Register/Clerk of Suffolk County in support of the exemption of
the foregoing Conditional Assignment of Leases and Rents from he imposition or payment of
mortgage tax under Article 11 of the Tax Law pursuant to provisions of Seio f the Tax
Law of the State of New York.
i
Matthew C. McCormick
Sworn to before me this
21 st day of April, 2022
ASHLEIGH MARINO
Notary Public, State of New York DISTRIBUTED BY
Registration #01 MA6346363
Qualified In Nassau County � ,/4%
Commission Expires Aug. 8, 202
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