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HomeMy WebLinkAboutL 6467 P 452 5...dard N.Y.B.T.U.Farm M-26d-ds_B,tSi and sale lhed."irlraur Cvvena.......r Gvv nrori/acrr_Ind'ry iJ a vl er Cv........ CONSIRt Y011e"1N110 lassoes SIOI11I1111"NSTMIMIM—TKS B"STRUM PIT S"01111 of uses eY""In OILY. uW6467 me 452 THIS INDENTURE made the day of October r nineteen hundred and sixty-four ' BETWEEN RACE POINT CORPORATION, a New York corporation, having an office at 1 Chase Manhattan Plaza, New York, New York 10005 (hereinafter sometimes called "Race Point"), Tarty of Ae first par,and A. JOHN GALA and MARGARET J. GABA, his wife, 5� brewer B, Fishers Island, New York (hereinafter sometimes collect- ively called "Gadatl), �1 n .� .e party of the second part, WITNESSE17K that the party of the first part,in consideration of Ten and 00/100 ($10.00) -------------------------------------------------------------dollars lawful money of the United States. ______________________paid by the party of the second par,does hereby grant and release unto the party of the second part,the heirs or successors and assigns of the party of the second part forever, ALLYoe!certain plot piece or paroAeof land,with the buildings and improvements thereon enrem, situate, lying and beingsintllat at Fishers Island, in the Town of Southold, County Of Suffolk, State of New York, being bounded and described as ` follows: Tract No. 1 Beginning at a monument on the Northwesterly line of Win- throp Drive, said monument being South 620 21' West 134,40 feet from the Southwesterly line of Equestrian Avenue, said monument also being 739.63 feet North of a point which is 4633.60 feet West of another monument marking the United States Coast and Geodetic Survey Triangulation Station "PROS" and thence running along said Winthrop Drive line North 620 21' East 134.40 feet; thence along said Equestrian Avenue line North 27° 34' West 13.66 feet to a monument; thence along the Southwesterly line of said Avenue South 620 26' West 1.61 feet; thence along the Southwesterly line of said avenue North 310 18' West 188.41 feet to a monument; thence South 620 26' West 120.80 feet; thence South 270 39' East 201.40 feet to the point of beginning. Containing 0.58 acres more or less. Tract No. 2 Beginning at a monument on the Northwesterly line of Win- throp Drive, said monument being 739.63 feet North of a point which is 4633.60 feet West of another monument marking the United States Coast and Geodetic Survey Triangulation Station "PROS" and thence running along said Winthrop Drive line South 620 21' West 102,0 feet; thence North 27° 39' West 201,50 feet; thence North 62^ 26' East 102.0 feet; thence South 270 39' East 201,40 1k feet to the point of beginning. I Containing 0.47 acres more or less. ue,�6467 w,453 Being the same premises described on a survey, dated Aupust, 1964, made by Chandler & Palmer, a copy of which survey is attached hereto and marked Schedule A. Together with the right to use in common with Race Point and others Winthrop Drive (50 feet in width), Reservoir Road (50 feet in width), Equestrian Avenue and other private roads of Race Point for ingress to and egress from the Premises (hereinafter defined) 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. The premises (herein sometimes referred to as the "Premises") are conveyed subject to: (a) The state of facts shown on Schedule A; (b) An 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, restrictions, reser- vations and rights of way, if any, of record; (d) The Premises being used for single family residential purposes only and no building, outbuilding or structure shall be erected within five (5) feet of any boundary thereof; and (e) Rights of Race Point as hereinafter set forth. Cada covenants and agrees with Race Point that: 1. (a) Prior to any transfer of the Premises or any portion thereof by Gada for a consideration, he shall notify Race Point of his 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 on the same terms and conditions. Within 30 days after receipt by Race Point of said notice, Race Point 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, Gada shall convey the Prem- ises or portion thereof to be sold to Race Point as hereinafter provided. If Race Point shall not elect so to purchase the Premises or portion thereof to be sold, Gada 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 conveyance shall take place within 90 days after the earlier of (1) the excira- tion of the above-mentioned 30-day period or (2) the date Gada I receives notice from Race Point that it does not elect to purchase 6 the Premises or portion thereof to be sold. (b) The provisions of paragraph (a) shall apply to any transfer by Gada without consideration, except that the purchase price at which Race Point 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 Gada has received notice that Race Point has exercised any of the foregoing options, Cada shall deliver or cause to be delivered to Race Point a Bargain and Sale Deed, in recordable form and in all respects satisfactory to Race Point. Upon delivery of such Deed, Cada shall vacate and sur- render possession of the Premises or portion thereof to Race Point. 3. Any transfer or conveyance of the premises or portion thereof by Gada 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 Gada, and shall inure to the benefit of the suc- cessors and assigns of Race Point. Race Point 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 "Gads" when used in the foregoing paragraphs shall include the heirs, distributees, personal representatives and assigns of Gada.