Sublease Application - The Lovett Group of Real Estate Companies

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Employees of 51 Fifth Avenue are on call between 8:00 am and 4:00 pm for repairs to and the service of building systems. Shareholders and tenants are not to use the services of the building staff during regular working hours for private work. If an employee should agree to do work in an individual apartment, it should take place on the employee’s day off or during non-working hours. The cost of such work is to be negotiated between the residents and the employee. Any employee found to be doing private work in an apartment on company time would be subject to termination. You should not jeopardize the employee’s employment status and you must cooperate with this request. Please note that the building’s insurance coverage does not cover employees doing work and the Corporation is not responsible for any work privately contracted, whether with building employees of other persons. This includes the moving in and moving out of residents. Apartment Repairs The cooperative corporation, with the assistance of the Managing Agent, is responsible for the maintenance and repair to all building systems. This includes the plumbing, heating and electrical sources within the walls of your apartments, the building’s exterior walls, roof and parapet walls, all doors and walls of the public hallways, stairwells and basement. All repairs must be reported via the Tenant Complaint forms, which are available from the elevator operator. These work orders are t be completed and returned to the elevator operators or directly to the Superintendent, who is responsible for responding to all complaints. Please report all complaints of building systems directly to the Managing Agent. The Managing Agent is responsible for making the necessary arrangements to have the repairs made and must report those repairs which require the assistance of outside contractors in excess of $1,500 to the Board of Directors. Moving In/Moving Out You must clear all moves in and out of the building with the Managing Agent in advance and pay a security deposit of $750.00, of which $500.00 is refundable. If you are a current shareholder who intends to sell or sublet your apartment, both you and your purchaser or subtenant are responsible for this deposit. The Managing Agent will hold security deposits in escrow to cover damages to the building. All moves must be scheduled with the Superintendent and can only take place between the hours of 8:00 am and 4:00 pm Monday through Friday. Any move that continues past the hours stated above will result in a charge equal to the hourly rate for the porter or Superintendent. However, no move may proceed after 5:00 pm under any circumstances. The passenger elevator may not be used for the moving of any household goods at anytime. Under no circumstances may anyone other than the building staff operate the building elevators. All moves must go through the service entrance. Revised 4/9/12 CCB 3 28
A certificate of insurance must be provided by the moving company and must name The Lovett Company, LLC. And 51 Fifth Avenue Owners Corp. as additionally insured. Mail & Package Delivery The building staff only accepts UPS deliveries and other forms of overnight mail as a courtesy to residents. The staff accepts the packages and logs them into the package book. Residents must sign for all packages received. The Cooperative Corporation accepts no liability for damage to or the misplacement of these items and suggests that if residents do not want the building staff to accept any such packages, to notify the Managing Agent in writing. Maintenance Payments All maintenance payments are technically due on the first of every month. However, the Board of Directors has instituted a grace period until the 15 th , after which time a $50.00 late fine is imposed. The late fine is assessed for all payments received by the bank after the 15 th and neither the Managing Agent nor the Board of Directors will be responsible for the US Postal Service. All billing inquiries are to be directed to either the Managing Agent or the Collection Manager in the agent’s office. The Managing Agent is required to bring to the Board of Directors attention to all Shareholders who are delinquent in their maintenance obligations. The Managing Agent is responsible for instituting legal action against all Shareholders who are two months behind in their financial obligations to the cooperative corporation. The Board of Directors will ultimately decide on disputes regarding payments. Resale Procedures The Managing Agent will provide resale packages upon request. The package contains personal and financial information required by the Board on the prospective purchaser. Please return completed applications to the Managing Agent for review. After the Managing Agent reviews and verifies the information submitted, they will set up an interview with the Board of Directors. The Managing Agent will notify the purchaser’s attorney of the Board’s decision and, if approved, a closing date will be scheduled. The Purchase Application package requires the completion of certain required documentation assembled into seven (7) copies with one original. See the Purchase Application for details; please contact Management for the most recent Purchase Application. The following fees are payable upon submission of the Purchase Application Package (see application package for details): $350.00 Processing Fee payable to The Lovett Company $100.00 Credit Report Fee payable to The Lovett Company $750.00 Move in/out Deposit, $500.00 of which is refundable. Please note that closing costs have not been included on this schedule. Upon sale approval, closing fees are provided to both parties. 29 Revised 4/9/12 CCB 4
Page 1 and 2: Revised 4/9/12 CCB 51 Fifth Avenue
Page 3 and 4: TLC The Lovett Company, LLC Revised
Page 5 and 6: Revised 4/9/12 CCB SUBLEASE APPLICA
Page 7 and 8: 2. Bank: Address: Type of Account:
Page 9 and 10: STATEMENT OF FINANCIAL CONDITION Pl
Page 11 and 12: STATEMENT OF FINANCIAL CONDITION (c
Page 13 and 14: INSERT LETTER FROM SHAREHOLDER DETA
Page 15 and 16: INSERT THREE (3) PERSONAL REFERENCE
Page 17 and 18: Revised 4/9/12 CCB INSERT LANDLORD
Page 19 and 20: Revised 4/9/12 CCB Sublease Agreeme
Page 21 and 22: Revised 4/9/12 CCB Page 3 of 3 Resp
Page 23 and 24: Revised 4/9/12 CCB SUBLEASE ACKNOWL
Page 25 and 26: Table of Contents Introduction…
Page 27: emergency situations. If your apart
Page 31 and 32: the workmen are expected. Under no
Page 33 and 34: Laundry The laundry room is located
Page 35 and 36: 21. Any consent or approval given u
Page 37 and 38: Revised 4/9/12 CCB W I N D O W G U
Page 39: NAME PLATE REQUEST Revised 4/9/12 C

Sublease Application - The Lovett Group of Real Estate Companies

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