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HomeMy WebLinkAboutL 13238 P 749 SUFFOLK COUNTY CLERK RECORDS OFFICE RECORDING PAGE Type of Instrument: ASSIGNMENT OF LEASES / RENTS Recorded: 03/06/2024 Number of Pages : 9 At: 12 :55 :56 PM Receipt Number : 24--0028666 MORTGAGE NUMBER: D0034094 LIBER: D00013238 PAGE : 749 District: Section: Block: Lot: 1000 006 . 00 02 . 00 016 .003 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 $290 .50 THIS PAGE IS A PART OF THE INSTRUMENT THIS IS NOT A BILL VINCENT PULED County Clerk, Suffolk County uu •. RECORDED 2024 Mar 06 U:55:56 Ph Number of pages OINCENT PULEO CLERK OF SUFFOLK COUNTY This document will be'public L c�P 749 38 F' �9 record. Please remove all D0034094 Social Security Numbers prior to recording. Deed/Mortgage Instrument Deed I Mortgage Tax Stamp Recording/Filing Stamps 3 FEES Mortgage Amt. Page/Filing Fee _ 1. Basic Tax Handling 20. 00 2. Additional Tax _ TP-584 Sub Total Notation , Spec./Assit. or EA-52 17(County) ' Sub Total Spec./Add. EA-5217(State) TOT.MTG.TAX _ R.RT.S.A. b� �y Dual Town Dual County_ J Held for Appointment Comm.of Ed. 5. 00 Transfer Tax Affidavit ��+ Mansion Certified Copy The property covered by this mortgage �— or will be improved by a one or t• NYS Surcharge 15, 00 °i family dwelling only. -"J Sub'Total ,�l YES or NO Other . Grand Total p If NO,see appropriate tax clause on page# of sins n}ept. 4 Dist. 5256757 1000 00600 0200 016003 �} p 3 5 Community Preservation Fun T 11IN1111111 Real Property R CVA A Consideration Amount$ Tax Service 14-FEB-24 Agency 'CPF Tax Due $ Verification Improved 6 Satisfactions/Discharges/Releases List Property Owners Mailing Address RECORD &RETURN TO: Vacant Land New b QrT Pipe cr m o,�7�; T1, C. TD 9J� CA(.krc� 5 r 13� Floor TD jv-P.w N,4UZai TD A /err r5Q Mail to: Vincent Puleo, Suffolk County Clerk 7 'Title Company Information 310 Center Drive, Riverhead, NY 11901 www.suffolkeountyny.gov/clerk a e D 72� Title# —' S . Suffolk County Reeordin2 & Endorsement Page 'Phis page forms part of the attached 5s;; $Nt £ lessors QX Te---sT xit/["_ses made by (SPECIFY TYPE OF INSTRUMENT) r IL The premises herein is situated in SUFFOLK COUNTY,NEW YORK. n TO In the TOWN of -<��Lzrtua �A ir�L�Q (t�uNTvAr+�l� In the VILLAGE or HAMLET of 1`L5�5 1.4ry�• BOXES 6 THRU 8 MUST BE TYPED OR PRINTED IN BLACK INK ONLY PRIOR TO RECORDING OR FTC,ING u.vmk..mmekk (OVCl, HAY HARBOR CLUB, INC., Assignor TO FAIRFIELD COUNTY BANK, Assignee ASSIGNMENT OF LESSOR'S INTEREST IN LEASES Dated: January 22, 2024 528 Avenue B Fishers Island,'NY 06390 Tax Description Section: 006.00 Block: 02.00 Lot: 016.003 for the County of Suffolk and State of New York RECORD AND RETURN TO: Neubert, Pepe, and Monteith, P.C. 195 Church Street(131 fl) New Haven,Connecticut 06510 Attention: Jane E. Ballerini, Esq. ASSIGNMENT OF LESSOR'S INTEREST IN LEASES THIS ASSIGNMENT OF LESSOR'S INTEREST IN LEASES is made this 22nd day of January, 2024 by HAY HARBOR CLUB, INC., a not-far-profit corporation organized and existing under the laws of the State of New York and having its principal office at 990 Fox Ave, P.O. Box 477, Fishers Island, NY 06390 (hereinafter "Assignor"), in favor of FAIR-FIELD COUNTY BANK, a banking corporation organized and existing under the laws of the State of Connecticut and having its principal office at 150 Danbury Road, Ridgefield, Connecticut 06877 (hereinafter called"Assignee"). WHEREAS, Assignor is the present owner of the real property and improvements located at 528 Avenue B in Fishers Island, County of Suffolk and State of New York and more particularly described in Schedule "A" attached hereto (collectively, the"Premises"); and WHEREAS, Assignee has made a certain mortgage loan (the"Loan")to Assignor as evidenced by a promissory note of even date herewith in the principal amount of FIVE HUNDRED THOUSAND AND 00/100 DOLLARS ($500,000.00) (as may be modified and/or extended, the "Note") secured by a mortgage on the Premises (as may be modified, consolidated and/or extended, the "Mortgage")executed by Assignor in favor of the Assignee affecting the Premises and may, in the future, hold additional notes and mortgages in greater or lesser amounts affecting said Premises; and WHEREAS, part or all of said Premises has been or will be leased to or occupied by one or more tenants; and WHEREAS, Assignee, as a condition of making the Loan, has required an absolute assignment of any and all present and future leases to Assignee as additional security for the Loan and the Mortgage securing the Loan: NOW THEREFORE, in consideration of the making of said mortgage Loan and of the sum of One ($1.00) Dollar and other good and valuable consideration, receipt of which is hereby acknowledged by Owner, it is hereby agreed as follows: 1. The Assignor hereby absolutely assigns to the Assignee the immediate and continuing right to collect and receive,without limitation, all of the rents, income, receipts, revenues, issues, and profits now due or which may become due, or to which the Assignor may now or shall hereafter (including during the period of redemption, if any) become entitled or may demand or claim, arising or issuing from or out of the leases now existing, which are set forth in the "SCHEDULE OF LEASES" annexed hereto and made part hereof, or hereafter made and affecting the Premises, or any part thereof, as said leases may have been or may from time to time be hereafter, modified, extended, and renewed, with all rents, income, and profits due and becoming due therefrom. Although future leases are intended to be covered hereby and included herein without any additional action by the Assignor, the Assignor will, upon request of the Assignee, execute absolute assignments of any future leases affecting any part of the Premises. 2 Fairfield County Bank Loan Documents Version November 2022 2. This Assignment is made in consideration of the Note in favor of the Assignee of even date herewith pursuant to which the Assignor has guaranteed the payment of all the obligations, liabilities, and indebtedness of Assignor to the Assignee. 3. The acceptance of this Assignment and the collection of rents or the payments under the leases hereby assigned shall not constitute a waiver of any rights of the Assignee under the terms of any of Note, Mortgage or any other the documents evidencing the Loan (the "Loan Documents"). It is expressly understood and agreed by the parties hereto that so long as there shall exist no default by the Assignor in the payment of any indebtedness and obligations or in the observance and performance of any other obligation, covenant, or warranty set forth herein or in any of the Loan Documents, or any other instrument executed by the Assignor in connection with the foregoing, the Assignee hereby grants to the Assignor a license(but limited as provided in the following paragraph) to collect, receive, and retain, but not prior to accrual, all of the rents arising from or out of the leases assigned hereby; provided, however, that even while such license remains in effect, no rent for any period more than one month in advance of the time of payment may be collected or accepted by the Assignor. Notwithstanding anything herein to the contrary, the Assignor hereby absolutely assigns to the Assignee any award made hereafter to it in any bankruptcy, insolvency, or reorganization proceedings in any state or federal court; and any and all payments made by lessees in lieu of rent. The Assignor hereby appoints the Assignee as its irrevocable attorney-in-fact to appear in any action and/or to collect any such award or payment. 4. This Assignment is given as security for(a) payment of any and all indebtedness due Assignee which is secured by the aforesaid mortgage and by any other future mortgage or mortgages in greater or lesser amounts affecting said Premises hereafter held by Assignee (all of which are hereinafter referred to and included within the term "mortgage"); (b) payment of all other sums with interest thereon becoming due and payable under the provisions hereof or under the provisions of the mortgage or any note secured thereby; and(c) performance and discharge of any and all obligations, covenants, representations and agreements of Assignor contained herein and in the mortgage, any note secured thereby, any other instrument evidencing or securing said indebtedness, and in any and all leases affecting said Premises. 5. Assignor hereby represents that, as to all existing leases, whether or not identified in the "SCHEDULE OF LEASES",(a) the lease has been duly executed, is valid and enforceable; (b) the terms thereof are as set forth in the "SCHEDULE OF LEASES" and/or in the copy of said lease delivered to Assignee; (c) landlord and tenant are not in default in any respect thereunder; (d) neither the lease nor any rents thereunder are subject to any other assignment; (e) no rent has been anticipated or prepaid by more than thirty (30) days prior to due date or accrual; (f) the tenant does not have and has not claimed any defense, offset or counterclaim affecting the payment of rent or performance of the tenant's other obligations thereunder; (g)the lease contains no option to buy or right of first refusal of an offer to sell the Premises or any part thereof; and (h) Assignor has good right and authority to assign the same to Assignee. b. Assignor hereby covenants and agrees that, as to all present and future leases, it will not, without the prior written consent of the Assignee: (a)accept any prepayment of rent more than thirty (30) days prior to due date or accrual; (b) reduce the rent or otherwise amend, modify or 3 Fairfield County Bank Loan Documents Version November 2022 alter said lease in any way; (c) surrender, cancel or terminate the same; (d) pledge, mortgage or assign any lease or rent thereunder as security for any obligation; (e) assign any lease or rent thereunder except in connection with a conveyance of said Premises and then only if expressly made subject to this Assignment; (f) violate or default in performance of any provision thereof, (g)consent to or permit any violation, default, cancellation, surrender, termination, abandonment, assignment or subletting of its lease by any tenant. Any of the above acts, if done without written consent of Assignee shall be null and void. 7. Assignor hereby covenants and agrees that as to all present and future leases, it will: (a) deliver to Assignee executed or conformed copies of all leases or other instruments affecting said Premises on request by Assignee; (b) give prompt notice to Assignee of any alleged default by either landlord or tenant under any lease, with a copy of any notice of default given by either landlord or tenant; (c) enforce, short of termination of the lease, the performance of all obligations of the tenant, at Assignor's expense. 8. Upon or at any time after a default in the payment of any indebtedness or performance of any obligation secured hereby, Assignee may, at its option, enter upon the Premises, collect and receive any and all rents or income therefrom, take possession of the Premises, operate and manage the same, make repairs and alterations and do all things that Assignor might do with respect to said Premises, without limitation. 9. A written demand on any tenant by Assignee for payment of rent to Assignee shall be sufficient warrant to said tenant to pay rent to Assignee without necessity for consent by Assignor, or evidence of a default by Assignor, and Assignor hereby directs and requires all tenants on said Premises to honor this Assignment and comply with any such demand by Assignee until written notice by Assignee to the tenant to resume rent payments to Assignor. 10. Assignee may apply any rents received by it hereunder to the payment of(a) all proper expenses pertaining to the operation and management of the Premises, including taxes, assessments, liens, insurance premiums,repairs and alterations, with interest and (b) the indebtedness secured hereby and all costs and attorney's fees, in such manner and order of priority as Assignee may in its sole discretion determine, any law or custom to the contrary notwithstanding, with any net proceeds collected by the Assignee under the terms of this Assignment being applied in reduction of the entire indebtedness from time to time outstanding and secured by the Mortgage. 11. Assignor hereby indemnifies and agrees to save Assignee harmless from any liability or expense incurred by Assignee hereunder or under any lease, and agrees to reimburse Assignee for any such expense, with interest, on demand. 12. Any action by Assignee hereunder shall not constitute a waiver of or be deemed to cure any default by Assignor under the Note, Mortgage, this Assignment, or any other note, mortgage or other instrument, and shall not affect or prejudice any other rights or remedies of Assignee, which may be exercised by Assignee prior to, concurrently with or subsequent to action hereunder; and any action by Assignee under the Note, Mortgage, this Assignment, or any other 4 Fairfield County Bank Loan Documents Version November 2022 note, mortgage or other instrument, or the release of any party liable thereunder, or any extension or indulgence with respect thereto, shall not affect or prejudice Assignee's rights hereunder. Nothing herein or action by Assignee hereunder shall diminish Assignor's obligations under any lease or impose any obligation upon Assignee with respect thereto. 13. Assignee may assign the Assignor's interest in any leases affecting the Premises or any part thereof to any subsequent holder of the Mortgage or to any party who acquires title to said Premises in foreclosure. No assignee of the Assignor's interest in said leases after a foreclosure of said mortgage shall be liable to account to Assignor for any rents or income thereafter accruing. 14. The Assignor hereby authorizes the Assignee to give notice in writing of this Assignment at any time to any tenant under any of said leases. 15. Any violation of any of the covenants, representations and provisions contained herein by the Assignor shall be deemed a default under the terms of the Note and the Mortgage. 16. Any default by the Assignor under any of the terms of the leases absolutely assigned herein shall be deemed a default under the terms of the Note, the Mortgage, and this Assignment. Any reasonable expenditure made by the Assignee in curing such a default on the Assignor's behalf, with interest thereon as provided in the Note, shall become part of the debt secured by these presents. 17. This Assignment applies to and binds the parties hereto and their respective heirs, administrators, executors, successors and assigns, as well as any subsequent owner of the Premises and any assignee of the Mortgage. 18. This Assignment shall continue in full force and effect until full payment of all indebtedness secured hereby, as evidenced by the recording of a full release of the Mortgage without the recording on the same day of another mortgage to Assignee affecting said Premises, at which time this Assignment shall terminate and be void and of no effect without necessity for any further instrument. 19. This Assignment is made pursuant to the provisions of Section 291-f of the Real Property Law of the State of New York. 20. This Assignment shall be governed by and construed in accordance with the laws of the State of New York. IN WITNESS WHEREOF, Owner has hereunto set its hand and seal this 22nd day of January, 2024. [NO FURTHER TEXT ON THIS PAGE] s Fairfield County Bank Loan Documents Version November 2022 [Signature Page—Assignment of Lessor's Interests in Leases] HAY HARBOR CLUB, INC. Lois C. Dwinell Its President STATE OF FLORIDA COUNTY OF M,�LVJJ The foregoing instrument was acknowledged before me this�day of January, 2024, by Lois C. Dwinell,the President of Hay Harbor Club, Inc.,a�New �York not-for-profit corporation. =marL- 6da Notary Public - State of Florid [T,f �tStamp of Notary Public: 95 Personally Known OR Produced Identification Type of Identification Produced 6 Fairfield County Bankz Loan Documents Version November 2022 SCHEDULE A ALL that certain plot, piece or parcel of land, situate, lying and being at Fishers Island,Town of Southold, County of Suffolk and State of New York, bounded and described as follows: BEGINNING at point on the Southerly line of Avenue B lying North 85 degrees 01 minutes 40 seconds West,4.07 feet from a monument set on the Southerly line of said Avenue B, said monument being located 5387.25 feet North of a point which is 1314.63 feet West of a monument marking the United States Coast and Geodetic Survey Triangulation Station "PROS"; and from said point of beginning; RUNNING THENCE along the Southerly side of Avenue B South 85 degrees 01 minutes 40 seconds East,4.07 feet to said monument; THENCE continuing along the Southerly side of Avenue B North 87 degrees 06 minutes 20 seconds East, 12.00 feet to a found iron pipe; THENCE continuing along the Southerly side of Avenue North 87 degrees 06 minutes 20 seconds East, 65.00 feet to a found iron pipe; THENCE continuing along the Southerly side of Avenue B South 80 degrees 30 minutes 40 seconds East, 36.32 feet to a monument; THENCE due South,74.00 feet to a monument located 5311.14 feet North of a point which is 1201.84 feet West of said "PROS: monument; THENCE South 01 degree 41 minutes 50 seconds West, 25.99 feet to a found iron pipe; THENCE South 87 degrees 00 minutes 30 seconds West, 104.00 feet through an iron pipe and monument to a found iron pipe; THENCE North 06 degrees 27 minutes 50 seconds West, 108.57 feet to an iron pipe on the Southerly side of Avenue B at the point or place of BEGINNING. END OF SCHEDULE A SCHEDULE OF LEASES All leases, licenses and/or tenancies, express or implied, now in existence or arising hereafter, including, but not limited to, the following: N/A l 8 Fairfield Counly Bank Loan Documents Version November 2022 AFFIDAVIT UNDER SECTION 255 TAX LAW (Assignment of Lessor's Interest in Leases) STATE OF NEW YORK ) . ss.. COUNTY OF SUFFOLK ) Lois C. Dwinell, being duly sworn, deposes and says: 1. That s/he is the President of Hay Harbor Club, Inc., a New York not-for-profit corporation (the "Borrower"), the Mortgagor of the hereinafter described Mortgage encumbering premises as more particularly described in Schedule"A"attached hereto,and s/he is familiar with the facts and circumstances set forth herein. 2. That a certain Mortgage,Assignment of Lessors Interests in Leases and Rents and Security Agreement dated January 22, 2024, was made by the Borrower, as Mortgagor, to Fairfield County Bank, as Mortgagee, in the principal sum of$500,000.00 and is intended to be recorded simultaneously herewith in the Clerk's Office of Suffolk County, New York. 3. That an Assignment of Lessor's Interest in Leases dated of even date as said Mortgage made by Borrower, as Assignor, assigns the leases and rents of Mortgagor to Fairfield County Bank, as Assignee, which Assignment is intended to be recorded simultaneously herewith in the Clerk's Office of Suffolk County, New York. 4. That said instruments herewith offered for recording do not create a new lien of indebtedness other than the principal indebtedness which under any contingency is or may be secured by the Mortgage for which a mortgage tax of . .00 is being tendered herewith. 5. This Affidavit is made pursuant to Section 255 of the Tax Law of the State of New York for the purpose of claiming exemption from any additional mortgage recording tax on the recording of said Assignment of Lessor's Interest in Leases and Rents herewith submitted for recording. (NO FURTHER TEXT ON THIS PAGE) nti C. n2 Sri r 1 W � TI 1-ti w 'R T1 t4 C W 2 0 � � � o + ti, m CoCA --a €'rt crn to (Signature Page to Section 255 Tax Affidavit) WHEREFORE, the undersigned respectfully requests that the Assignment of Lessor's Interest in Leases and Rents be declared exempt from taxation pursuant to the provisions of Section 255 of Article 11 of the New York Tax Law. S ` �`Lcl t ►c P_�Q Name: Lois C. Dwinell President of the Borrower Sworn to before me this f!day of January, 2024 AA A otary Public Notary Public State of Florida Kristen Marie Campbell AA My Commission HH 069595 Y Expires=30=5 r � SCHEDULE A ALL that certain plot, piece or parcel of land,situate, lying and being at Fishers Island,Town of Southold,County of Suffolk and State of New York, bounded and described as follows: BEGINNING at point on the Southerly line of Avenue B lying North 85 degrees 01 minutes 40 seconds West,4.07 feet from a monument set on the Southerly line of said Avenue B,said monument being located 5387.25 feet North of a point which is 1314.63 feet West of a monument marking the United States Coast and Geodetic Survey Triangulation Station "PROS";and from said point of beginning; RUNNING THENCE along the Southerly side of Avenue B South 85 degrees 01 minutes 40 seconds East,4.07 feet to said monument; THENCE continuing along the Southerly side of Avenue B North 87 degrees 06 minutes 20 seconds East, 12.00 feet to a found iron pipe; THENCE continuing along the Southerly side of Avenue North 87 degrees 06 minutes 20 seconds East, 65.00 feet to a found iron pipe; THENCE continuing along the Southerly side of Avenue B South 80 degrees 30 minutes 40 seconds East, 36.32 feet to a monument; THENCE due South, 74.00 feet to a monument located 5311.14 feet North of a point which is 1201.84 feet West of said "PROS: monument; THENCE South 01 degree 41 minutes 50 seconds West, 25.99 feet to a found iron pipe; THENCE South 87 degrees 00 minutes 30 seconds West, 104.00 feet through an iron pipe and monument to a found iron pipe; THENCE North 06 degrees 27 minutes 50 seconds West, 108.57 feet to an iron pipe on the Southerly side of Avenue B at the point or place of BEGINNING. END OF SCHEDULE A