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HomeMy WebLinkAboutL 6360 P 557 . d I I I I.L'.I:i.—doll'.6 s:_y"1—a'c",,-d Ll.:1-J—1,Coveo.n.ve..... ........ r DOHSULT YCOII EIEWYN BOOM HOWHO TEM MISTNMENT—THIS MSTNMNIT SHOULD BE OSED BY LAWYERS CTAY. Up[R6360 4cf557 THIS INIXEMIlM made the 3C day of April ,nineteen hundred and sixty-eight A Ito BETWEEN RICHARD A. COOPER, 252 Sunset Drive, Glastonbury, Connecticut, 'o- z party of the first part,and ROBERT WADDINGTON and OLGA WADDINGTON, Fishers Island, New York, party of the seeond,part, WTTNESSET'H,that the party of the first part,in consideration of - - - - - - - - - TEN and 00/100 ($30.00) - - - - - - - - - - - - - - dollars. lawful moray of the United States, and other good and valuable consideration paid by the party of the second part,does hereby grant and release onto the party of the secmul part,the heirs or successors and assigns of the party of the second part forever, ALL that certain plot,piece or pared of land,with the buildings and improvements thereon rreaed, situate, lying and being anWe[ at Fishers Island, Town of Southold, County of Suffolk, State of New York, bounded and described as follows: BEGINNING at a point on the Northwesterly line of Winthrop Drive, said point being South 62 degrees 21 minutes 00 seconds West 236.40 feet from the Southwesterly line of Equestrian Avenue, said point also being 692.29 feet North of a point which is 4723.95 feet West of a monument marking the United States Coast and Geodetic Survey Triangulation Station "PROS", and THENCE running North 27 degrees 39 minutes 00 seconds West 201.50 feet; THENCE South 62 degrees 26 minptes 00 seconds West 110.83 feet; THENCE South 27 degrees 39 minutes 00 seconds East 201.60 feet to said Winthrop Drive line; THENCE along said Winthrop Drive line North 62 degrees 21 minutes 00 seconds East 110.83 feet to the point of BEGINNING. TOGETHER WITH the right to use in common with Race Point Corporation and others Winthrop Drive, Equestrian Avenue and other private roads of Race Point Corporation for ingress to and egress from the premises until such time as such private roads are dedicated to public road and highway purposes and accepted by a Town or Village for such purposes. Containing 0. 51 acres, more or less, and being the same premises described in a survey dated August, 1964, made by Chandler & Palmer. . The premises hereby conveyed are conveyed subject to: (a) The premises being used for single family residential purposes only and no building, outbuilding or structure shall be erected within 5 feet of any boundary therof; LIPER PAG!%8 (b) The easement for existing water pipes and sewer drains and pipes and the rights of third parties to use, maintain, repair and replace said facilities; (c) Agreements, covenants, conditions, consents, restrictions, reservations and rights of way, if any, of record. (d) The state of facts as shown on survey of premises made by Chandler & Palmer, dated August, 1964. (e) Rights of Race Point Corporation as hereinafter set forth. Grantees covenant and agree with grantor herein that; 1. (a) Prior to any transfer of the premises or any portion thereof by grantees for a consideration, they shall notify Race Point Corporation of their intention to do so, identifying the proposed purchaser, specifying the terms and conditions of the transfer and offering to convey the premises or portion thereof to be sold to Race Point Corporation on the same terms and conditions. Within 30 days after receipt by Race Point Corporation of said notice, Race Point Corporation may elect to purchase the premises or portion thereof to be sold on said terms and conditions, and upon receipt of notice of such election, grantees shall convey the premises or portion thereof to be sold to Race Point Corporation as hereinafter provided. If Race Point Corporation shall not elect to so purchase the premises or portion thereof to be sold, grantees shall be free to convey the same to the proposed purchaser identified in said notice on the same terms and conditions specified therein, provided that such con- veyance shall take place within 90 days after the earlier of(1) the expiration of the above mentioned 30 day period or (2)the date grantees receive notice from Race Point Corporation that it does not elect to purchase the premises or portion thereof to be sold. (b) The provisions of paragraph (a) shall apply to any transfer by grantees without consideration, except that the,purchase price at which Race Point Corporation may exercise its option shall be an amount equal to the then fair market value of the premises or portion thereof. 2. Within 30 days after grantees have received notice that Race Point Corporation has exercised any of the foregoing options, grantees shall deliver or cause to be delivered to Race Point Corporation a Bargain and Sale Deed in recordable form and in all respects satisfactory to Race Point Corporation, Upon delivery of such deed, grantees shall vacate and surrender possession of the premises or portion thereof to Race Point Corporation. 3. Any transfer or conveyance of the premises or portion thereof by grantees in violation of the foregoing provisions shall be void. 4. The foregoing covenants and agreements shall run with the land, shall bind the heirs, distributees, personal representatives and assigns of the grantees, and shall inure to the benefit of the successors and assigns of Race Point Corporation. Race Point Corporation shall have the same options to purchase the premises or any portion thereof against all subsequent owners of the premises, it being understood that the word (grantees" when used in the foregoing paragraphs shall include the heirs distributees, personal representatives and assigns of the grantees. BEING AND INTENDED TO BE the same premises conveyed to the grantor herein by deed of Walter J. Krauth dated the 26th day of January, 1967, and recorded in Suffolk County Clerk's Office in Liber 6298 of Deeds at Page 05 on the 1st day of February, 1968.