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HomeMy WebLinkAboutL 11672 P 578 . az-1W2T5n e Form 8002•—Bargain and Sale Deed,with Covenant against Grantor's Acts—Individual or Corporation.(single sheep CONSULT YOUR LAWYER BEFORE SIGNING THIS INSTRUMENT—THIS INSTRUMENT SHOULD BE USED BY LAWYERS ONLY. THIS INDENTURE, made the 22nd day of March nineteen hundred and ninety-four r BETWEEN CAROL 0. RIDGWAY, formerly known as Carol 0. Gallaher , now residing at 68 Neck Road , Old Lyme , Connecticut 06371 party of the first part, and MICHAEL C . CRUPI and TERRY BJ9W CRUPI , his wife , both now residing at 191 Knapps Highway , Fairfield , Connecticut 06430 party of the second part, 101 LM d 1$ 17 21 WITNESSETH, that the party of the first part, in consideration of Ten Dollars and other valuable consideration 20 paid by the party of the second part, 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, ALL that certain plot, piece or parcel of land, with the buildings and improvements thereon erected, situate, lying and being ixXbpx at Fishers Island, Town of Southold , County of Suffolk and State of New York , being more particularly bounded and described on Schedule A hereto. BEING AND INTENDED TO BE the same premises conveyed to the party of the first part by deed , dated August 14 , 1973 and recorded on September 21 , 1973 in the Office of the Suffolk County Clerk in Liber 7495 page 40 . TOGETHER with all right, title and interest, if any, of the party of the first part in and to any streets and roads abutting the above described premises to the center lines thereof; TOGETHER with the appurtenances and all the estate and rights of the party of the first part in and 'to said premises; TO HAVE AND TO HOLD the TAX MAP premises herein granted unto the party of the second part, the heirs or successors and assigns of the party of the DESIGNATION second part forever. Dist. AND the party of the first part covenants that the party of the first part has not done or suffered anything Sec. whereby the said premises have been encumbered in any way whatever, except as aforesaid. AND the party of the first part, in compliance with Section',13 of the Lien Law, covenants that the party of the first part will receive the consideration for this conveyance and will hold the right to receive such consideration Wk. as a trust fund to be applied first for the purpose of paying the cost of the improvement and will apply the same first to the payment of the cost of the improvement before using any part of the total of the same for any other Lot(,), purpose. The word "party" shall be construed as if it read "parties" whenever the sense of this indenture so requires. IN WITNESS WHEREOF, the party of the first part has duly executed this deed the day and year first above written. IN PRESENCE OF: i Carol O. Ridgwayo —�— RECORDED APR 14 1994 EDWARD P.RWIINE CLERIC OF SUFFOLK COUNTY , SCHEDUU A To Deed " a .3"..,;.,. pParty of the first Part: Carol 0. Ridgway Y Carol O. Gallaher Party of the second part: Michael C. Crupi and Terry Beck Crupi Deed dated: March 2Z., 1994 BEGINNING at a drill hole in the walk on the Southeasterly side of Winthrop Drive, said drill' hole being South 62 degrees 21 minutes West 354 . 50 feet from the Southwesterly line of Equestrian Avenue, said drill hole also being 613 . 37 feet North of a point which is 4766.85 feet West of a monument marking the U.S. Coast and Geodetic Survey Triangulation Station "PROS" ; and RUNNING THENCE along said Winthrop Drive South 62 degrees 21 ._..minutes West 92 . 65 feet to a drill hole; THENCE South 27 degrees 39 minutes East 193 . 80 feet; THENCE North 62 degrees 21 minutes East 80. 20 feet to a monument; THENCE BEGINNING. g ,West 184 . 30 feet to the point THENCE North 23 degrees 46 minutes TOGETHER WITH such rights as the party of the first part may have to use in common with others the private roads formerly of Race Point Corporation identified in the deed recorded in Liber 7495 page 40 for ingress and egress from the above-described 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. The premises are conveyed subject to: (a) 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. (b) Agreements , covenants, conditions, restrictions, reservations and rights of way, if any, of record. (c) 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. (d) Rights of Fishers Island Development Corporation as successor to Race Point Corporation (hereinafter "FIDCO") as hereinafter set forth. The party of the second part, by accepting this deed, covenants and agrees with the ,party of the first part and FIDCO that: 1. (a) Prior to any transfer of the premises or any portion thereof by the party of :the second part, they shall notify FIDCO 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 FIDCO on the same terms and conditions. Within 30 -P y premises FIDCO of said notice, FIDCO may elect to da s after receipt purchase the ses or portion thereof to be sold on said terms and conditions, and upon receipt of notice of such election, the party of the second part shall convey the premises or portion thereof to be sold to FIDCO as hereinafter provided. If FIDCO shall not elect so to purchase the premises or portion thereof to be sold, the party of the second part 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 expiration of the above mentioned 30 day period, or (2) the date the party of the second part receives notice from FIDCO that it does not elect to purchase the premises or any portion thereof to be sold. RECORDED APR 14 1994 EowaaD P.ROru OLEM OF SUFFOLK OOUNTY ., 11672M (b) The provisions of paragraph (a) shall apply to any transfer by the party of the second part without consideration, ' except that the purchase price at which FIDCO 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 the party of the second part has received notice that FIDCO has exercised any of the foregoing . � options, the party of the second part shall deliver or cause to be delivered to FIDCO a bargain and sale deed, in recordable form and in all respects satisfactory to FIDCO. Upon delivery of such deed, the party of the second part shall vacate and surrender possession of the premises or portion thereof to FIDCO. 3 . Any transfer or conveyance of the premises or portion thereof by the party of the second part 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 party of the second part, and shall inure to the benefit of the successors and assigns of FIDCO. FIDCO shall have the same options to purchase the premises or any portion thereof aaainst all subsequent owners of the premises, it being understood that the term "party of the second part", when used in the foregoing paragraphs, shall include the heirs, distributees, personal representatives and assigns of the party of the second part. SUBJECT further to Covenants and Restrictions, Easements and Reservations in Liber 4615 cp 283 , and to Declaration of Covenants and Restrictions and Agreement in Liber 5728 cp 420. RECORDED APR 14 1994EDWARD P.ROMAX- CLERK OF SUFFOLK COUNV h <