Contract Of Sale (Amended 1975) {NY 023}

<document>NY 023 Contract of Sale 6-20-75 (NYBTU 8041)CONSULT YOUR LAWYER BEFORE SIGNING THIS INSTRUMENT -THIS INSTRUMENT SHOULD BE USED BY LAWYERS ONLYNOTE: FIRE LOSSES. This form of contract contains no express provisions as to risk of loss by fire or other casualty before delivery of the deed. Unless express provision is made, the provisions of Section 5-1311 of the General Obligations Law will apply. This section also placed risk of loss upon purchaser if title or possession is transferred prior to closing. THIS AGREEMENT, made theday of, in the year BETWEENCOURT COUNTY OFhereinafter described as the seller, and. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .:::::::Index No.Calendar No.JUDICIAL SUBPOENAPlaintiff(s) -against-Defendant(s)hereinafter described as the purchaser,WITNESSETH, that the seller agrees to sell and covey, and the purchaser agrees to purchase,ALL that certain plot, piece or parcel of land, with the buildings and improvements thereon erected, situate, lying and being in the. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .THE PEOPLE OF THE STATE OF NEW YORK TOGREETINGS:WE COMMAND YOU, that all business and excuses being laid aside, you and each of you attend before Court at the the Honorable,located at County ofo'clock in the day of, on the, 20, at or adjourned date, to testify and give evidence as a witness in this action on the part of thenoon, and at any recessed in roomYour failure to comply with this subpoena is punishable as a contempt of court and will make you liable to the party on whose behalf this subpoena was issued for a maximum penalty of $50 and all damages sustained as a result of your failure to comply.1.This sale includes all right, title and interest, if any, of the seller in and to any land lying in the bed of any street, road or avenue opened or proposed, in front of or adjoining said premises, to the center line thereof, and all right, title and interest of the seller in and to any award made or to be made in lieu thereof and in and to any unpaid award for damage to said premises by reason of change of grade of any street; and the seller will execute and deliver to the purchaser, on closing of title, or thereafter, on demand, all proper instruments for the conveyance of such title and the assignment and collection of any such reward. 2., one of the Justices of theThe price isCourt in Witness, Honorableday of, 20 County,Dollars, on the signing of this contract, by check subject to collection, the receipt of which is hereby acknowledged:Dollars, payable as follows:(Attorney must sign above and type name below)Dollars,Attorney(s) forin cash or good certified check to the order of the seller on the delivery of the deed as hereinafter provided:Dollars,by taking title subject to amortgage now a lien on said premises in that amount, bearing interest at the rate ofOffice and P.O. Addressper cent per annum, the principal being due and payableDollars,by the purchaser or assigns executing, acknowledging and delivering to the seller a bond or, at the option of the seller, a note secured by a purchase moneyTelephone No.: Facsimile No.: E-Mail Address:mortgage on the above premises, in that amount, payableMobile Tel. No.:per cent per annum payabletogether with interest at the rate ofAmerican LegalNet, Inc. www.USCourtForms.com3 .Any bond or note and mortgage to be given hereunder shall be drawn on the standard forms of New York Board of Title Underwriters for mortgages of like lien; and shall be drawn by the attorney for the seller at the expense of the purchaser, who shall also pay the mortgage recording tax and recording fees.4.If such purchase money mortgage is to be a subordinate mortgage on the premises it shall provide that it shall be subject and subordinate to the lienof the existingmortgageof $ any extensions thereof and to any mortgageor consolidated mortgagewhich may be placed on the premises in lieu thereof, and to any extensions thereof provided (a) that the interest rate thereof shall not be greater thanper cent per annum and (b) that, if the principal amount thereof shall exceed the amount of principal owing and unpaid on said existing mortgage at the time of placing such new mortgage or consolidated mortgage, the excess be paid to the holder of such purchase money mortgage in reduction of the principal thereof. Such purchase money mortgage shall also provide that such payment to the holder thereof shall not alter or affect the regular installments, if any, of principal payable thereunder and shall further provide that the holder thereof will, on demand and without charge therefor, execute, acknowledge and deliver any agreement or agreements further to effectuate such subordination.5 .If there be a mortgage on the premises the seller agrees to deliver to the purchaser at the time of delivery of the deed a proper certificate executed and acknowledged by the holder of such mortgage and in form for recording, certifying as to the amount of the unpaid principal and interest thereon, date of maturity thereof and rate of interest thereon, and the seller shall pay the fees for recording such certificate. Should the mortgagee be a bank or other institution as defined n Section 274-a, Real Property Law, the mortgagee may, in lieu of the said certificate, furnish a letter signed by a duly authorized officer, or employee, or agent, containing the information required to be set forth in said certificate. Seller represents that such mortgage will not be in default at or as a result of the delivery of the deed hereunder and that neither said mortgage, nor any modification thereof contains any provision to accelerate payment, or to change any of the other terms or provisions thereof by reason of the delivery of the deed hereunder.COURT COUNTY OF. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .:::::::Index No.Calendar No.JUDICIAL SUBPOENAPlaintiff(s) -against-Defendant(s)6.Said premises are sold and are to be conveyed subject to:a.Zoning regulations and ordinances of the city, town or village in which the premises lie which are not violated by existing structures. b.Consents by the seller or any former owner of premises for the erection of any structure or structures on, under or above any street or streets on which said premises may abut. c.Encroachments of stoops, areas, cel