HomeMy WebLinkAboutL 12815 P 956SUFFOLK COUNTY CLERK
RECORDS OFFICE
RECORDING PAGE
Type of Instrument: ASSIGNMENT OF LEASES / RENTS Recorded: 05/05/2015
Number of Pages: 7 At: 04:36:53 PM
Receipt Number : 15-0060347
MORTGAGE NUMBER: DG004663
LIBER: D00012815
PAGE: 956
District:
Section:
$20.00
Block:
1000
045.01
$0.00
01.00
$0.00
EXAMINED
AND CHARGED AS FOLLOWS
Received the
Following Fees For
Above Instrument
Exempt
Page/Filing
$35.00
NO
Handling
COE
$5.00
NO
NYS SRCHG
Affidavit
$5.00
NO
TP -584
Notation
$0.50
NO
Cert.Copies
RPT
$60.00
NO
Fees Paid
THIS PAGE IS A PART OF THE INSTRUMENT
THIS IS NOT A BILL
Lot:
020.000
$140.50
JUDITH A. PASCALE
County Clerk, Suffolk County
Exempt
$20.00
NO
$15.00
NO
$0.00
NO
$0.00
NO
$140.50
JUDITH A. PASCALE
County Clerk, Suffolk County
Number of pages r
This document will be public
record. Please remove all
Social Security Numbers
prior to recording.
RECORDED
2015 flay 05 04:36:53 PM
JUDITH A. PASCALE
CLERK OF
SUFFOLK COUNTY
L D00012815
P 956
D6004663
Deed/ Mortgage Instrument I Deed / Mortgage Tax Stamp I Recording / Filing Stamps
FEES
Page / Filing Fee
Mortgage Amt.
1. Basic Tax
Handling 20. 00
2. Additional Tax
TP -584
Sub Total
Spec./Assit.
Notation
or
EA -52 17 (County) Sub Total 515
Spec. /Add.
EA -5217 (State)
TOT. MTG. TAX
— 1
.9L�,
Dual Town Dual County
R.P.T.S.A.
Held for Appointment
Comm. of Ed. 5. 00
Transfer Tax
..
Affidavit
Mansion Tax
��
The property covered by this mortgage is
Certified Copy
or will be improved by a one or twc
NYS Surcharge 15. 00�
family dwelling only.
Sub Total
YES or NO
Other
Grand Total dc I_xJ
NO, see appropriate tax clause on
page # of this instrume t.
a�-
4 Dist. ' "" -' '10.000
5
Community Preservation Fund
2922625 1000 04501 0100 020000
Real Prop
Consideration Amount $
Tax Se FTs
ll II ll,,II ff II IIII IIff II
Agencycy R DTY A I I[I1II I�III III��lulllllll hill lllll� llll
CPF Tax Due $
Verlffcatlf 05 -MAY -1
Improved
6 SatiSt--13ivuaiaiyoinered5e5-Lnrrrupen[yvjwners'Maiiing-Addres5
RECORD & RETURN TO:
Vacant Land
The Bridgehampton National Bank
TD
Attm Commercial Loan Processing
15 Frowein Road, Suite A-3
TD
Center Moriches, NY 11934
TD
Mail to: Judith A. Pascale, Suffolk County Clerk
7 Title
Company ]information
310 Center Drive, Riverhead, NY 11901
Co. Name Bridge
Abstract LLC
www.suffolkcountyny.gov/clerk
Title # BAL3042S
8
Suffolk County Recording & Endorsement Page
This page forms part of the attached Assignment of Leases and Rents made
by: (SPECIFY TYPE OF INSTRUMENT)
The premises herein is situated in
SUFFOLK COUNTY, NEW YORK.
TO In the TOWN of _Southold
The Brid eg hampton National Bank In the VILLAGE
or HAMLET of Greenport
BOXES 6 THRU 8 MUST BE TYPED OR PRINTED IN BLACK INK ONLY PRIOR TO RECORDING OR FILING.
over
l�
j/1-1- 304AS
ASSIGNMENT OF LEASES AND RENTS
THIS ASSIGNMENT, made this 201h day of April, 2015 by Jie J. Cao, residing at
4 Chester Drive, Great Neck, New York 11021 (herein called the "Assignor"), to THE
BRIDGEHAMPTON NATIONAL BANK, a national banking association, with an office at
2200 Montauk Highway, Bridgehampton, New York 11932 (herein called the "Assignee").
WITNESSETH:
FOR VALUE RECEIVED, the Assignor hereby grants, transfers, and assigns to
the Assignee, its successors and assigns all of the right, title and interest of the Assignor in and to
any and all leases, subleases, occupancy agreements and tenancies (individually and collectively,
the "Lease"), whether now existing or hereafter entered into affecting the premises (herein called
the "Premises") described in Schedule A annexed hereto and located at 61475 County Road 48,
Unit C106, Greenport, New York 11944, for the purpose of securing (a) payment and guaranty
of payment of all sums now or at any time hereafter due the Assignee from Jie J. Cao (the
"Borrower") and secured by the mortgage described in a certain Mortgage and Security
Agreement of even date herewith to secure the sum of Two Hundred Forty Five Thousand and
00/100 ($245,000.00) Dollars (the "Mortgage") made by4the Borrower to the Assignee and
recorded or to be recorded at or prior to the recording of this Assignment, or by any other
mortgage in favor of the Assignee hereafter affecting the Premises (each of such mortgages and
the notes secured thereby being hereafter referred to as the "Mortgage" and the "Note,"
respectively); and (b) performance and discharge of each obligation, covenant and agreement of
the Assignor contained herein or in the Mortgage or any note secured there y.
'
'TIE, i C- A* `ro i A e- 6ki 64*tf PTDN V A77CWA L � 4AJ(- D 4TC-6 �do -1 S; 7z 13� kC�-�rJ)
THE ASSIGNVE AGREES THAT:
So long as there shall exist no default after applicable grace periods, if any, by the
Borrower in the payment of any indebtedness secured hereby or in the performance of any
obligation of the Borrower in the Mortgage or any other instrument securing said indebtedness,
the Assignor shall have the right to collect, but not more than 30 days prior to accrual, all rents,
issues and profits for the Premises and to retain, use and enjoy the same.
Upon the payment in full of all indebtedness secured hereby, as evidenced by the
recording or filing of an instrument of satisfaction or full release of the Mortgage without the
recording of another Mortgage in favor of the Assignee affecting the Premises, this Assignment
shall become and be void and of no effect.
THE ASSIGNOR AGREES, JOINTLY AND SEVERALLY IF THERE ARE
MORE THAN ONE ASSIGNOR, WITH RESPECT TO EACH LEASE that:
1. The Assignor will fulfill or perform each and every condition and
covenant of the Lease by lessor thereunder (individually and collectively, depending upon the
context used, the "Lessor") to be fulfilled or performed; give prompt notice to the Assignee of
any notice of default by the Assignor under the Lease received by the Assignor, together with a
K
Stewart Title Insitrance Company
Title Number: BAL3042S
Page 1
SCHEDULE A DESCRIPTION
ALL that certain plot, piece or parcel of real property, with the improvements therein contained,
situate and being part of a Condominium at Greenport, Town of Southold, County of Suffolk and
State of New York, known and designated as Unit No. C106 together with an undivided 1.47%
interest in the common elements of the Condominium herein referred to.
The real property above described is a Unit shown on the plans of a Condominium prepared and
certified by Charles Thomas, Architect and filed in the Office of the Clerk of the County of Suffolk
on the 15th day of August, 2008 as Map No. 400, as defined in the Declaration of Condominium
entitled: "Cliffside Resort Condominium" made by Tedaldi at Tidemark Inc., under Article 9-B of the
New York Real Property Law, dated August 11, 2008 and recorded in the Suffolk County Clerk's
Office on the 15th day of August, 2008 in Liber 12561 of Conveyances at page 793 covering the
property therein described. The land area is described as follows:
ALL that certain plot, piece or parcel of land, situate, lying and being at Greenport, Town of
Southold, County of Suffolk and State of New York, being more particularly bounded and
described as follows:
BEGINNING at a point on the northwesterly side of Middle Road (County Road 48) at the
southeasterly comer of land now or formerly of Patrick J. Steward and Rose M. Steward and the
southwesterly corner of the premises herein described;
RUNNING THENCE along said land of Steward the following (2) courses and distances:
1. North 35 degrees 04 minutes 11 seconds West, 129.46 feet; and
2. South 61 degrees 19 minutes 49 seconds West, 100.00 feet to land now or formerly of P.J.
Bangs Estate;
THENCE along said land, North 17 degrees 12 minutes 41 seconds West, 551.63 feet to a tie line
along the approximate high water mark of Long Island Sound;
THENCE along said tie line, the following nine (9) courses and distances to land now or formerly
of Jerad Motel Corp.:
1. North 34 degrees 34 minutes 32 seconds East, 11.65 feet;
2. North 35 degrees 32 minutes 25 seconds East, 51.96 feet;
3. North 34 degrees 01 minutes 23 seconds East, 53.44 feet;
4. North 23 degrees 16 minutes 20 seconds East, 52.99 feet;
5. North 28 degrees 02 minutes 10 seconds East, 54.04 feet;
6. North 22 degrees 38 minutes 26 seconds East, 50.22 feet;
Stewart Title Insarrartce Company
Title Number: BAL3042S
Page 2
7. North 22 degrees 35 minutes 49 seconds East, 53.26 feet;
8. North 24 degrees 25 minutes 20 seconds East, 57.85 feet; and
9. North 29 degrees 15 minutes 52 seconds East, 20.68 feet to land now or formerly of Jerad
Motel Corp.;
THENCE along said land South 44 degrees 32 minutes 51 seconds East, 556.92 feet to the
southwesterly side of Middle Road (County Road 48);
THENCE along the southwesterly side of Middle Road (County Road 48) the following three (3)
courses and distances:
1. South 19 degrees 33 minutes 39 seconds West, 158.12 feet;
2. South 24 degrees 02 minutes 49 seconds West, 297.94 feet; and
3. South 35 degrees 35 minutes 39 seconds West, 145.82 feet to the point or place of
BEGINNING.
R
complete copy of any such notice; at the sole cost and expense of the Assignor, enforce, short of
termination of the Lease, the performance or observance of each and every material covenant
and condition of the Lease by the lessee thereunder (individually and collectively, depending
upon the context used, the "Lessee") to be performed or observed; not modify or in any way alter
the terms of the Lease so as to diminish Lessor's security in the Premises; not terminate the term
of the Lease, or accept a surrender thereof, unless required to do so by the terms of the Lease; not
anticipate the rents thereunder for more than 30 days prior to accrual; and not waive or release
the Lessee from any obligations or conditions by the Lessee to be performed. This Assignment
is made with reference to Section 291-f of the New York Real Property Law.
2. The rights assigned hereunder include all the Assignor's right and power
to modify the Lease or to terminate the term or to accept a surrender thereof, or to waive or
release the Lessee from the performance or observance by the Lessee of any obligation or
condition thereof or to anticipate rents thereunder for more than 30 days prior to accrual.
3. At the Assignor's sole cost and expense, the Assignor will appear in and
defend any action growing out of or in any manner connected with the Lease or the obligations
or liabilities of the Lessor, Lessee or any guarantor thereunder, and the Assignee, if made a party
to any such action, may employ counsel and incur and pay necessary costs and expenses and
reasonable attorney's fees, and all such sums, with interest at the rate applicable from and after
maturity under the Agreement or the Mortgage, shall immediately be due from the Assignor and
secured hereby.
4. Should the Assignor fail to make any payment or to do any act as herein
provided after notice and demand, then the Assignee, but without obligation to do so and without
releasing the Assignor from any obligation herein, may make or do the same, including,
specifically, without limiting its general powers, appearing in and defending any action
purporting to affect the security hereof or the rights or powers of the Assignee and performing
any obligation of the Lessor in the Lease contained, and, in exercising any such powers, paying
necessary costs and expenses, employing counsel and incurring and paying reasonable attorneys'
fees; and the Assignor will pay immediately upon demand all sums expended by the Assignee
under the authority hereof, together with interest thereon at the rate applicable from and after
maturity under the Note secured by the Mortgage, and the same shall be added to said
indebtedness and shall be secured hereby and by the Mortgage.
5. The whole of said indebtedness shall become due (a) upon the election by
the Assignee to accelerate the maturity of the indebtedness pursuant to the provisions of the Note
or of the Mortgage, or any other instrument which may be held by the Assignee as security for
the indebtedness, or (b) at the option of the Assignee, after any attempt by the Assignor to
exercise any of the rights described in Paragraph 2 or after any default by the Assignor hereunder
and the continuance of such default for 10 days after notice and demand from Assignee to
remedy same.
6. After any attempt by the Assignor to exercise any of the rights described
in Paragraph 2, or after any default by the Borrower in the payment of said indebtedness or in the
performance of any obligation of the Assignor herein or in the Mortgage or any other instrument
securing said indebtedness, the Assignee, at its option, without notice and without regard to the
adequacy of security for the indebtedness hereby secured, either in person or by agent with or
3
without bringing any action or proceeding, or by a receiver to be appointed by a court, may:
enter upon, take possession of, and operate the Premises; make, enforce, modify, and accept the
surrender of leases; obtain and evict tenants; fix or modify rents; and do any acts which the
Assignee deems proper to protect the security hereof until all indebtedness secured hereby is paid
in full, and either with or without taking possession of the Premises, in its own name, sue for or
otherwise collect and receive all rents, issues and profits, including those past due and unpaid,
and apply the same, less costs and expenses of operation and collection, including reasonable
attorneys' fees, upon any indebtedness secured hereby, in such order as the Assignee may
determine. Any income received from the Premises by the Assignee in excess of the amount
necessary to meet all obligations for the subsequent 6 months' period shall be paid over by the
Assignee to the Assignor promptly after the expiration of each 6 months' period following the
date of such entry. The entering upon and taking possession of said Premises, the collection of
such rents, issues and profits, and the application thereof as aforesaid shall not cure or waive any
default or waive, modify or affect any notice of default under the Mortgage or invalidate any act
done pursuant to said notice.
7. (a) The Assignor has not executed any prior assignment of any of its rights
under the Lease, except to Assignee; (b) the Assignor has not done anything which might prevent
the Assignee from or limit the Assignee in operating under any of the provisions hereof, (c) the
Assignor has not accepted rent under the Lease more than 30 days in advance of its due date;
(d) so far as the Assignor knows, there is no present default by the Lessee under the Lease; and
(e) the Lease is in full force and effect, unmodified except as set forth herein.
8. The Assignee shall not be obligated to perform or discharge any obligation
under the Lease or under or by reason of this Assignment, and the Assignor hereby agrees to
indemnify the Assignee against and hold it harmless from any and all liability, loss or damage
which it may or might incur under the Lease or under or by reason of this Assignment and of and
from any and all claims and demands whatsoever which may be asserted against it by reason of
any alleged obligation or undertaking on its part to perform or discharge any of the terms of the
Lease; should the Assignee incur any such liability, loss or damage under the Lease or under or
by reason of this Assignment, or in defense against any such claims or demands, the amount
thereof, including costs, expenses and reasonable attorneys' fees, together with interest thereon
at the rate applicable from and after maturity under the Note, shall be secured hereby and by the
Mortgage, and the Assignor shall reimburse the Assignee therefor immediately upon demand.
9. This Assignment shall inure to the benefit of the successors and assigns of
the Assignee and shall bind the Assignor's legal representatives, successors and assigns.
THE PARTIES AGREE that all notices, demands or documents which are
required or permitted to be given or served hereunder shall be in writing and shall be deemed
given within three (3) business days of being sent by certified mail, return receipt requested,
addressed to the Assignor at 4 Chester Drive, Great Neck, New York 11021, and to the
Assignee at 2200 Montauk Highway, Bridgehampton, New York 11932, Attn: Chief Lending
Officer, and that such addresses may be changed from time to time by either party by serving
notice as above provided.
4
IN WITNESS WHEREOF, the Assignor has duly executed this Assignment the
day and year first above written.
Jie J. Cao V1 11
State of New York )
County of Suffolk )ss.:
On the 201h day of April in the year 2015 before me, the undersigned, personally appeared Jie J.
Cao, personally known to me or proved to me on the basis of satisfactory evidence to be the
individual whose name is subscribed to the within instrument, and acknowledged to me that she
executed the same in her capacity, and that by her signature on the instrument, the individual, or
the person upon behalf of which the individual acted, executed the instrument.
Notary tublic
6MVNN BODMM
Nobny Public, leo of NowYki*
No, OIrAO
GUMM IR iilffotlt our"
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nterwown%4522548.2
5
SECTION 255 AFFIDAVIT
Assignment of Leases and Rents
STATE OF NEW YORK
55..
COUNTY OF SUFFOLK
,#� -5p P�
Jie J. Cao ("Assignor"), being duly sworn, deposes and says, that I am over the
age of twenty-one years and that I am fully familiar with the facts and circumstances set forth
herein, and state as follows:
A Mortgage and Security Agreement in the original principal sum of
$245,000.00 was made by Jie J. Cao (" Mortgagor") in favor of The Bridgehampton National
Bank, a national banking association ("Lender"), dated as of April 20, 2015, and recorded
immediately prior hereto in the Office of the Clerk of Suffolk County, New York (the
"Mortgage"), on which the mortgage tax in the sum of $2,542.50 was paid. There is presently
owing on said Mortgage the principal sum of $245,000.00. Said Mortgage encumbers the
improved real property known as 61475 County Road 48, Unit C 106, Greenport, New York
11944 (the "Premises")
2. The Assignor has executed and delivered to Lender an Assignment of
Leases and Rents ("Agreement") dated as of April 20, 2015, which Agreement is intended to be
recorded in said County Clerk's Office concurrently herewith and which Agreement q fectp%
r. i CDr} r Z r'�1
Premises. � Cr -13 CD ,Y- M �
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Hca
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I The Agreement herewith tendered for recording is given for the purpose of
further securing the same principal indebtedness as is secured by the Mortgage and said
Agreement does not create or secure any new or further indebtedness or obligation other than the
principal indebtedness secured by said Mortgage. There have been no releases or readvances on
said Mortgage or under the Agreement herewith offered for recording.
WHEREFORE, deponent respectfully requests that the Agreement tendered
herewith for recording be declared exempt from taxation pursuant to the provisions of Section
255 of Article 11 of the Tax Law of the State of New York.
Sworn to before me this 20th day
of April, 2015.
W V
Notary Pubpc
STEVEN BODZINER
Notary Publia, 8tW$ of NewYork
No. 02DOW M2
Guatlfied In Suffolk coun28. ty
HRMI"lon "M Pebru"
Jie J. Cao
-2-
RECORDED
55 -f5
Judith A. Pascale
CLERK OF
SUFFOLK COUNTY
Dc�) IM cs
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