Loading...
HomeMy WebLinkAboutL 12703 P 793SUFFOLK COUNTY CLERK RECORDS OFFICE RECORDING PAGE Type of Instrument: AGREEMENT Number of Pages: 6 Receipt Number : 12-0100325 District: 1000 Recorded: At: LIBER: PAGE: Section: Block: 103.00 08.00 EXAMINED AND CHARGED AS FOLLOWS Received the Following Fees For Above Instrument Exempt Page/Filing $30.00 NO Handling COE $5.00 NO NYS SRCHG Affidavit $0.00 NO TP-584 Notation $0.00 NO Cert. Copies RPT $60.00 NO Fees Paid THIS PAGE IS A PART OF THE INSTRUMENT THIS IS NOT A BILL JUDITH A. PASCALE County Clerk, Suffolk County 08/30/2012 01:35:25 PH D00012703 793 Lot: 003.000 $20.00 $15.oo $0.00 $0.00 Exempt NO NO NO NO $130.00 Number of pages This document will be public record. Please remove all Social Security Numbers prior to recording. RECORDED 2012 ~ug 30 01:35:25 JUDITH ~.~P~SC~LE CLERK OF SUKFOLK COUNTY L D00012703 P 793 Deed / Mortgage Instrument Deed / Mortgage Tax Stamp Recording / Fi!lng Stamps FEES Page I Filing Fee Handlin9 TP-584 Notation EA-$217 (County) EA-5~7 (State) R.P.T.5 Comm. of Ed. Affidavit Certified Copy NYS Surcharge Other 20. o~o 5.0--o SubTotal o_9o SubTotal C~) Grand Total' [ ,~'~ d Real Proper Tax Service Agency Verification 6 Satisfa[ 4 JDist/~,,~,l q.~tio./~ ,,ol abck~e.', o I Lot O 1000 10300 0800 003000 Mortgage Amt. __ s. Basic Tax 2. Additional Tax Sub Total Spec./Assit. or Spec.lAdd. · TOT. MTG. TAX Dual Town Dual County __ Held for Appointment ~ Tra nsfe~ Tax Man~ion Tax The property covered by this mortgage is or will be improved by a one or two family dwelling only... YES ~ or NO If NO, see appropriate tax clause on pac,]e # of this in~b ument. Community Preservation Fund IConsidcrafionAmount $~ CPF Tax Due $ Improved : VacantLand ID FD Mail to: Judith A. Pascale, Suffolk County clerk 3zo Center Drive, Riverhead, ,NYz~9oz www.suffolkcou ntyny.gov/clerk ~ 7 ,J Title Company Information I ~o. Name ~ )~ , 'c:: ~ > ~ -~ 7~./e ITitle~ ~- ~X~- 7o~? ~ Suffolk County RecOrding & Endorsement Page This page forms part 0fthe attached /L-7/~o cr~ (~ ~r/~/r~/~4 ~ ~ ~Y: ,~ ~ ~u ~ ~ ~,- . '~ (SPECIFYTYPE OF INSTRUMENT) ' ~/ ...... . v ~ O. W. ~t~M~ ~~/t Z.~ ~ The premises herein is situated in ~:~ ~ ~ ~ ~;Ln,W'~. , SUFFOLK COUN~, NEW YORK ~ ~, ~ In the TOWN of .~O ~ ~Z~ ~ In the VILLAGE ~ ~/~ . ~_, Or'HAMLETof ~~.~ T ~ ¢ BOXES 6 HRU 8 MUST BE TYPED OR PRINTED IN BLACK INK ONLY PRIOR TO RECORDING (over) HOUSE OWNERSHIP AGREEMENT This Agreement, made/th'~,t~ay of ~ 2012, among ELAINE MEYER- SYRKIN, residing at 660 Schoolhouse Road, Cutchogue, NY 11935 and JEANNE BARNWELL residing at 32-16 213th Street, Bayside, NY 11361, individuaIly and as Trustee of the ELAINE MEYER-SYtLKIN REVOCABLE TRUST dated April 30, 1997 Restated May 22, 2012 (hereinafter "Elaine"); and CHAP.LES F. CROFTS, JR., residing at 20I 5 Stillwater Avenue, Cutchogue, NY 11935 (hereinafter "Charles"), all of whom are collectively known as the Owners. Whereas, Elaine has acquired, through her revocable trust named above, an undivided one half interest in the Property known as 2015 Stillwater Avenue, Cutchogue, N.Y., SCTM# 1000~I03.00-08.00-003.000, (the "Property") from ROSE MARIE CROFTS by deed dated.,~-/~ 2o/,7. and to be recorded~in the Suffolk County Clerk's Office; and Whereas, Elaine, as Trustee, and Charles each own an undivided one-half interest in the Property and desire to confirm their agreement regarding use and occupancy of the property, payment of expenses, and transfers of interests in the Property. NOW THEREFORE, in consideration Ten and 00($10.00) 00/100 Dollars, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follows: 1. Use of the Property. Charles and Elaine shall exclusively use the Property in common with each other for a single family dwelling only. No Owner shall permit a guest to occupy the Property in the absence of such Owner without the consent of the other Owner, except for transient visits by immediate family members. No Owner may lease the Property without the written consent of both Owners. 2. Expenses. Expenses of operating the Property shall be shared equally by Elaine and by Charles, except Charles shall pay off and satisfy the home equity mortgage currently on the Property. If an Owner fails after 30 days notice to pay his or her share of an expense, such share shall bear interest at 5% per annum. Expenses for purposes of this section shall include, without limitation, insurance, utilities, service contracts, lawn maintenance, repairs, taxes, and similar expenses, and costs of improvements agreed to by all Owners. No capital improvements will be made to the prope .rty without the consent of both Owners. 3. Outside Transfer. If either of the Owners desires to sell or transfer their interest in the Property, or a portion thereof, he or she shall first offer same to the other Owner for an amount equal to ten (10%) per cent less than one-half of the then fair market value. If the Owners cannot agree on a price but the non-selling Owner wishes to purchase, then the fair market value shall be determined by appraisal by a NYS Licensed appraiser. The appraisal shall be made by an appraiser agreed upon between the Owners, or if they cannot agree, by averaging the appraisal obtained by the Owner who is selling and the appraisal obtained by the non-selling Owner. If the non-selling Owner agrees to purchase the selling Owner's interest at the computed value, the parties shall promptly enter into a contract of sale which shall provide for a closing on or about 60 days from the date of the Contract. The Contract may contain a mortgage contingency for not more than the purchase price. The non- selling owner may take title to all or a portion of the selling owner's interest in the property in the name of a trust of which he or she is a primary beneficiary or in the name of one or more of his or her children. If the non-selling Owner does not wish to purchase the selling Owner's interest or fails to enter into a contract of sale within 30 days of the date of the appraisal (or the date the parties agreed upon a price if no appraisal was obtained), then the non-selling Owner's right to purchase shall terminate, and the Property shall be listed for sale and both Owners will agree to sell to a third party at not less than 10% of the appraised value, less broker's commission and customary seller's expenses. 4. Permitted Transfer. Any Owner may transfer his or her interest to a revocable trust of which he or she is the Grantor and a Trustee, and the Trustees and beneficiaries shall be bound by the provisions of this agreement. Notice of such transfer shall be given to the other Owners, but such a transfer wilt not invoke the provisions of Paragraph 3. 5. Death of One Owner. a) Right to Occul~anc¥. In the event Elaine or Charles dies during the ownership of the Property, the surviving Owner shall have the right to exclusive occupancy of the residence for so long as he or she chooses to live there. In such event, the survivor shall be fully responsible for 100% of the expenses, as defined in Paragraph 2 and except as set forth in the following sentence. Expenses for necessary or advisable renovations, staging, or fix up expenses, or other expenses related to effectively marketing the house for sale (all of which are called Marketing Expenses), shall be shared equally between the surviving Owner and the representative of the deceased Owner's share. If the surviving Owner vacates the property, then the expenses shall be payable 50% by the surviving Owner and 50% by the representative of the deceased Owner. This shall not be construed to allow the survivor to rent the house or allow occupancy to third parties, other than transient guests or bona fide caregivers required for the safety and care of the surviving Owner. b) Right to Purchase by Surviving Owner. The surviving Owner shall have the right to purchase the Property from the representative of the deceased Owner at any time during the lifetime of the surviving Owner, on the same terms as set forth in Paragraph 3 above. If the surviving Owner is not living in the Property, and does not wish to purchase the Property, the representative of the deceased Owner shall have the right to purchase the Property on the same terms as set forth in Paragraph 3. c) Sale of Property. If the surviving Owner decides to vacate the Property and/or wishes to sell the Property, the surviving Owner shall offer his or her interest to the legal representative of the deceased Owner, on the same terms as in Paragraph 3 herein. If the deceased Owner's representative does not purchase the property, the surviving Owner shall have the right to sell the Property on such reasonable terms and conditions as the surviving Owner alone shall determine. The net proceeds shalI be divided equally between the surviving Owner and the deceased Owner's estate, after payment of all reasonable and customary expenses of sale, including without limitation the Marketing Expenses set forth above, broker's commission, attorney's fees, and transfer tax. 6. Death of both Owners. Upon the death of the surviving Owner, or if both Owners die in a common accident or disaster where the order of death would be impossible to determine, the representatives of each Owner shall have the right to purchase the Property for the highest price that either is willing to pay in excess of fair market value. If neither representative wishes to purchase the Property, then the Property shall be sold and the net proceeds equally divided· 7. Representative. For purposes of this Agreement, the representative of the deceased Owner shall refer to the successor Trustee of Elaine's trust, the legal representative of Charles' estate or if there is no such representative, then the persons or entities entitled to inherit the Property of the deceased Owner on his or her death. 8. Mortgages and Liens. The parties agree that no mortgage lien shall be placed on the Property without the consent of both parties. The parties further agree to keep the Property clear of all liens and encumbrances except by mutual written agreement. 9. Notices. All notices to be given under this agreement by either party shall be in writing and shall be deemed to have been duly given to the other when personally delivered with receipt acknowledged or mailed by certified mail, return receipt requested, postage prepaid, to the address set forth on the first page of this agreement. Either party may designate, by notice given in accordance with this paragraph, a different address for the giving of notice pursuant to this agreement. Notices shall be deemed given on the second business day after mailing, if mailed, or upon delivery, if given by personal delivery. I 0. Miscellaneous. This instrument represents the entire agreement of the parties, and this agreement may not be amended or modified except by a written instrument signed by the party to be charged. In the event ora dispute resulting in litigation, the prevailing party shall be entitled to recover reasonable attorneys' fees as awarded by the Court. Any action arising out of this agreement wilt be heard by a Judge without a jury in Suffolk County, IT BEING AGREED THAT THE PARTIES WAIVE THEIR RIGHT TO TRIAL BY JURY. IN WITNESS WHEREOF, the parties hereto have signed this agreement the day and year first above written. Elain~ Me, yer- S yr[~ ~(] ; ~harles F. Crofts, Jr.' ~/ - ~ Consented: Je~fl'e Bamwell, co- rustee STATE OF NEW YORK: :ss.'. COUNTY OF SUFFOLK: On , in the year 2012, before me, the undersigned, a Notary Public in and for said State, personally appeared ELAINE MEYER-SYRKIN, personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose names(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capaeity(ies) and that by his/her/their signature(s) on the instrument, the individuhl(s), or the person(s) or entity(les) upon behalf of which the individual(s) acted, executed the instrument. -~ N~rTy Fubt~- STATE OF NEW YORK: ~SS,~ COUNTY OF SUFFOLK: On-~'/q~, in the year 2012, before me, the undersigned, a Notary Public in and for said State, personally appeared CHARLES F. CROFTS, JR., personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose names(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies) and that by his/her/their signature(s) on the instrument, the individual(s), or the person(s) or entity(ies) upon behalf of which the individual(s) acted, executed the instrument. STATE OFNEW YORK: /V~'Dq~' ?u ,6't..~ e~ 4'DqT-~- q ~-- :ss.: ~ O ~.h&l / q ~a tr/O ~ 71, COUNTY OF ~t/· e~,5. ' ' .~u Fg:_ e__~. ~-~m ,,n..._~x?. ?/~a//..~ On June ..9.q, in the year 2012, before me, the undersigned, a Notary Public in and for said State, personally appeared JEANNE BARNWELL, personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose names(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies) and that by his/her/their signature(s) on the instrument, the individual(s), or the person(s) or entity(ies) upon behalf of which the individual(s) acted, executed the instrument. Notary Public LOiS M. KLITERNtCI{ 2IlagtenincommonSyrkin ~ ~ubttc, Stat~ of Neti~ no. 01 No. o . gIV ,Va 91, 9uno. 6uvF. CHICAGO TITLE INSURANCE COMPANY TITLE NO. C I 1-7474-10207StJFF SCHEDULE A-I (Description) Amended 07/3 !/12 ALL that certain plot, piece or parcel of land, situate, lying and being at Cutchogue, Town of Southold, County of Suffolk and State of New York, bounded and described as follows: BEGINNING at monument on the easterly side of Stillwater Avenue distant 2089.59 feet southerly along said easterly line from the Main Road; said point of beginning being the northwesterly corner of land now or formerly of George Pontino and from said point of beginning; RUNNING THENCE along said easterly side of Stillwater Avenue, North 46 degrees 24 minutes 40 seconds West a distance of 100.0 feet; THENCE along land now or formerly of Michael Hand, two courses as follows: i. North 44 degrees 31 minutes 00 seconds East a distance of 150.0 feet; 2. South 46 degrees 24 minutes 40 seconds East a distance of 100.0 feet to said land now or formerly of Pontino;' THENCE along land now or formerly of Pontino, South 44 degrees 31 minutes 00 seconds West a distance of 150.00 feet to the point or place of BEGINNING. FOR INFORMATION ONLY: Dist. 1000 Sec. t03.00 Block 08.00 Lot 003.000 THE POLICY TO BE ISSUED under this commitment will insure the title to such buildings and improvements on the premises which by law constitute real properry. FOR CONVEYANCING ONL Y: Together with all the right, title and interest of the parry of the first part, of in and to the land lying in the street in front of and adjoining said premises. SCHEDULE ~4-1 (Description) Rev. (03/04)