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Sample Alteration Agreement

Posted by hauseit on July 11, 2016
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Looking for a sample alteration agreement because you need to renovate your home?  Congratulations on being smart and researching in advance what an alteration agreement in NYC looks like.  As you’ll see from the sample alteration agreement for a NYC condo below, it can be quite restrictive and onerous in language!

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Can I sign an alteration agreement before closing?

Many home buyers want to make sure their planned renovations will be approved prior to closing.  While this desire is understandable especially if it is a renovation or change to your apartment you absolutely need, it is highly unusual and typically not possible to have your future co-op or condo board approve your planned changes prior to closing.

Why?  Because you’re not an unit owner (condo) or shareholder (co-op) yet!  Moreover, both the listing agent and your buyer’s agent will advise you against pursuing this path primarily because it is in their best interest to close on the apartment.  However, your interests will typically be aligned for a co-op sale because you do not want to jeopardize a board interview with non-standard requests such as these.  You want to sail through the co-op board interview and once you are a shareholder you can then request the renovations!

sample alteration agreement

Many home buyers want to make sure their planned renovations will be approved prior to closing.  While this desire is understandable especially if it is a renovation or change to your apartment you absolutely need, it is highly unusual and typically not possible to have your future co-op or condo board approve your planned changes prior to closing.

sample alteration agreement

Why?  Because you’re not an unit owner (condo) or shareholder (co-op) yet!  Moreover, both the listing agent and your buyer’s agent will advise you against pursuing this path primarily because it is in their best interest to close on the apartment.  However, your interests will typically be aligned for a co-op sale because you do not want to jeopardize a board interview with non-standard requests such as these.  You want to sail through the co-op board interview and once you are a shareholder you can then request the renovations!

Sample Alteration Agreement for a NYC condo

ALTERATION AGREEMENT

This agreement made as of the first date below between the [Building Management Company], (designated herein as the “Cooperation” or the “Condominium”) with an address [address] and [Owner Name] the Unit Owner (the “Owner”) having a mailing address at [address].

WITNESSETH:

WHEREAS: the Owner desires to install equipment and /or make alterations in apartment [unit number] (The “Apartment”) at [address]: and

WHEREAS: The Condominium Declaration (the “Declaration”) and the By-Laws between the unit Owner and the Condominium provides that no equipment shall be installed and no alterations shall be made in the Apartment without the consent of the Condominium; and

WHEREAS: the Owner desires to obtain such consent;

NOW, THEREORE, the parties agree as follows;

  • The Owner’s Submission. Depending on the complexity and scope of the proposed Work, The Condominium may require the Owner to retain an architect or engineer.  The Condominium’s decision will be made and communicated to the Owner by the Condominium’s Managing Agent within twenty business days of the Owner delivering the following documents to the Condominium:
  • An original of this agreement, fully executed by the Owner, and initialed on each page.
  • Detailed plans, drawings, and specifications for the equipment proposed to be installed and/or the alterations proposed to be made. Such plans, drawings and specifications must include a room by room list of the equipment to be installed and the alterations to be made.  If the Owner has chosen not to retain an engineer or architect, the Plans must be submitted by the Owner’s general contractor.
  • A check made payable to the Condominium in the amount of $[Amount], representing a non-refundable alteration agreement fee. A second check made payable to the Condominium in the amount of $[Amount] representing an escrow deposit or such other higher or lower sum as the Condominium in its sole discretion deems appropriate, depending on the scope, and complexity of the proposed project. The $[Amount] escrow may be returned to the Owner upon completing the proposed work on time and in accordance with each and every provision of this alterations agreement.
  1. Process for Review of Plans, Drawings and Specifications.  The plans, drawings and specifications submitted by the Owner shall be subject to review and approval by the Condominium and it’s architect or engineer (the “Condominium’s” Designated Engineer) The Condominium’s Designated Engineer prepares written comments for the Condominium’s review, together with his recommendations. The Engineer’s comments, together with the Owner’s plans, drawings, and specifications, are then submitted to the Management Company and the Board of Managers for their review.  The Condominium’s Designated Engineer recommends to the Board whether the Owner’s plans, drawings and specifications should be approved, denied, or returned to the Owner with required changes.

A complete set of the Owner’s drawings, specifications, and the Engineer’s comments must be submitted to the Condominium’s Managing Agent who will advise the Owner of the Board’s decision in writing.  That written decision will include a specific list of any and all changes required by the Condominium the Managing Agent or Designated Engineer.  No final approval shall be given to the Owner until he / she makes any and all changes required by the Condominium, or the Condominium’s Managing Agent or Designated Engineer.  The term “Plans” as used in this agreement shall refer to the plans, drawings, and specifications AS APPROVED IN WRITING by the Condominium and the Condominuim’s Designated Engineer.  The term “Work” shall refer to the work called for by the plans or any other work performed by on behalf of the Owner.  After approval by the Condominium and the Condominium’s Designated Engineer, the Plans shall NOT be modified without the express written approval of the Condominium and the Condominium’s Designated Engineer. Notwithstanding any approval of the Plans by the Condominium or the Condominium’s Designated Engineer, the Owner shall remain fully responsible for the Plans, for ensuring compability with the systems and facilities of the Building, and for compliance with applicable laws and codes.

The Condominium’s execution of this Agreement does NOT constitute consent to the work called for by the plans, drawings, or specifications submitted by the Owner.  The Condominium retains all of its rights to withhold consent.  Only written approval of such plans, drawings and specifications as provided for above shall constitute the Condominium’s consent to the Work called for by the Plans and any such consent shall be subject to the terms of this Agreement.

Pre-Conditions to Commencement of Work by Owner.

The Owner shall Not commence the Work unless and until each of the following has occurred.

  • The Condominium and Condominium’s Designated Engineer shall have approved in writing the plans, drawings and specifications submitted by the Owner and the Owner shall have received a copy of such approvals and shall have paid all fees and disbursements then owing to the Condominium and the Condominium’s Designated Engineer hereunder.
  • The Owner shall have submitted to the Condominium (i) a list of all contractors, subcontractors, and suppliers who will perform or provide materials for the Work, and (ii) complete copies of agreements entered into with such contractors, subcontractors, and suppliers pertaining to the Work.
  • The Owner shall have made all required filings with, and received all required permits, approvals licenses and consents form, all governmental agencies having jurisdiction over the Work including, but not limited to, the New York City Buildings Department and the New York City Fire Department, and the Owner shall have furnished copies of all such filings, permits, approvals, licenses and consents to the Condominium, all to the satisfaction of the Condominium’s Designated Engineer.
  • The Owner shall have caused each of his/her contractors to furnish to the Condominium the insurance policies and certificates described in and required by Exhibit A, a copy of which is attached and incorporated by reference herein. Such policies (i) shall name the Condominium, the Condominium’s Board of Managers, officers, directors and owners, the Condominium’s Designated Engineer, the Managing Agent and the Owner, as parties insured (ii) shall be issued by companies reasonably acceptable to the Condominium and (iii) shall provide that such policies shall not be cancelled or terminated without at least twenty (20) days prior written notice to the Condominium.  The Owner shall cause all such insurance policies to be kept in full force and effect until the completion of the Work.
  • Owner to Give Notice Prior to Commencement of Work. Prior to commencing the work the Owner shall give at least five business days prior written notice to the Condominium’s Designated Engineer, the Superintendent and the Managing Agent specifying the date on which the Work will commence and the estimated duration of the Work.  Owner shall also provide forty-eight hours written notice to all neighbors on both sides and directly above and below Owner’s apartment providing said neighbors with the same information.Performance of the Work.
  • In General. The Owner shall perform the Work strictly in accordance with the Plans and shall not perform any Work not called for by the Plans. In performing the Work, the Owner shall comply with (i) Declarations and By-Laws (ii) the requirements of all insurance policies covering the Work, the Apartment or the Building, (iii) this agreement.(iv) The By-Laws as they maybe amended from time to time (v) the Condominium’s Amended Rules and Regulations as they may be further amended from time to time, ( the “ House Rules”) (vi) the requirements of the Condominium (vii) any directions given by the Managing Agent, the Condominium’s Designated Engineer or the Superintendent and  (viii) All applicable Laws and Codes.
  • Work Hours and Noise. The Owner shall perform the work diligently and in a manner so as not to disturb other residents of the building.  The Work shall be performed Mondays through Fridays only (excluding Holidays) between the hours of 9:00 A.M. and 5:00 P.M.  The Work shall not be performed on weekends or holidays.
  • Labor Harmony. The Owner shall cause his/her contractors and subcontractors to employ only such laborers as shall not conflict and /or otherwise paid /or cause disharmony with the Building.
  • Required Completion Date. The Owner shall cause the Work (other than decorative work such as painting, wallpapering and carpeting) to be completed on or before [date] (the “Required Completion Date”).  The Required Completion Date shall not exceed six months from the commencement date of the Work, as specified in Owner’s notice to all parties designated in paragraph 4 above.
  • Fees for Exceeding the Required Completion Date: In the event that the work is not completed by the Required Completion date, the Owner must apply to the Board for a maximum six-, month extension beyond the Required Completion Date (the “Extended Required Completion Date”).
  • Per Diem Fee: If the Owner fails to complete the Work within the Extended Required Completion Date, the Condominium retains the right , in its sole discretion , to require the Owner to pay a fee of $ 100.00 per day for the first 30 days, a fee of $200.00 per day for days 31 – 60 inclusive, a fee of $ 500.00 per day for days 61-180 inclusive and a fee of $ 1,000.00 per day for any work that the Owner fails to complete within 180 days of the extended required completion date.  The Owner acknowledges, agrees, and understands that these per diem fees are imposed as the result of the inconvenience that alterations cause other building residents and the increase supervision that is required while apartment alterations are proceeding.  Such fees shall be chargeable as additional common charges.
  • Evidence of Completion: Upon completion of the Work, the Owner shall obtain and deliver to the Condominium (i) a certificate from the architect or the engineer who prepared the Plans certifying that the Work has been completed in accordance with all applicable laws and codes and the Plans, and (ii) all required final governmental signoffs and approvals, including if the Condominium shall so require, an amended certificate of occupancy and a certificate from the Board of Fire Underwriters. The determination of the Condominium as to the need for any foregoing shall be binding and conclusive.
  • Balance of Alteration Agreement Fee. Within ten days of completion of the Work, as evidenced by the Owner delivering all documents specified in the preceding paragraph, g, and upon any and all final inspections required by the Condominium to ensure that the Work has been completed in strict compliance with this Agreement, the Condominiums will return to the Owner the balance of the Alteration Agreement Fee, if any, without interest.
  • Liens : The Owner shall have sole and complete responsibility for ensuring that his/her architect, engineer , contractor, subcontractors, suppliers , and any and all other persons or companies involved in the approved Work, are paid in full. In the event that  a mechanic’s lien is filed against the Building by any person or company who has been hired by the Owner and his / her agents, the Owner shall take whatever steps are necessary to remove the mechanic’s lien within (20) business days of being so notified by the Condominium.  If the Owner fails to remove the Mechanic’s lien within the specified time, then the Condominium retains the right in its sole discretion, to require the Owner to pay a per diem fee of $ 100.00 for each day that the lien remains open of record.  The Condominium, also maintains the right, in its sole discretion, to take whatever steps are necessary to remove the mechanic’s lien and to charge the Owner all fees and costs associated with, or related to, the removal of said lien, said fee(s) shall be chargeable as Common Charges.
  • Inspection and Correction of the Work: The Condominium shall have the right from time to time to inspect or observe the Work, and for this purpose the Owner shall provide access to the Apartment to the Condominium’s Designated Engineer, the Managing Agent, the Superintendent or any other person the Condominium may authorize The Owner shall be promptly make all corrections required by the Condominium in order to conform to the Plans and other requirements of this Agreement.

If the Condominium so requires, such corrections shall include the removal and replacement of non-conforming work.  The Condominium’s failure to inspect shall not be considered a waiver of the Owner’s obligation to comply with this Agreement.

  • Damaging or Adverse Effect caused by the Work. The Owner shall be responsible for any damage to or any other adverse effect upon the Apartment or the Building, including but not limited to structure, shell, systems, equipment, fixtures and finishes of the building, caused by or resulting from Work, (collectively “ Damage”) regardless of when such Damage becomes apparent. In the event of any Damage, the Condominium may, at its sole option and discretion(a) require the Owner, at his/her expense, to repair Damage or remedy the condition giving rise to it with a specified time frame, or (b) repair the Damage or remedy such condition at the Owner’s sole expense.

Without limiting the terms of the preceding paragraph, the Owner specifically acknowledges that this Section 7 shall be applicable to any damage to any carpeting, wall coverings, finishes and other improvements in the building’s hallways, elevators, and other common areas.  The Owner shall be responsible to the Building for the cost of cleaning, shampooing, painting and repairing or, at the sole option and discretion of the Condominium, replacing the same if soiled or otherwise damaged in connection with the Work,.

If the Managing Agent advises the Owner of any Damage caused by the Work, the Owner shall promptly submit a claim to the Owner’s insurance carrier and to the Owner’s contractor for submission to its insurance carrier.  The Owner shall also use all reasonable efforts to expeditiously review and resolve all such claims for which they are responsible.  The provisions of this paragraph shall not limit the Owner’s liability under Section 7.

  • Indemnification by Owner. The Owner shall indemnify and hold harmless the Condominium, the Condominium’s Board of Managers officers, directors, and owners, the Condominium’s Designated Engineer, the Managing Agent and other residents of the building       (collectively, as “Indemnified Persons”) against any loss, cost, claim, damage        (including damage to persons or property) or expense arising from or related to the

Work or any act or omission of the Owner’s contractors, subcontractors, architects, engineers or consultants, including reasonable attorney’s fees and disbursements incurred by any of the Indemnified Persons in the defense of any such claim or any suit, action or proceeding based thereon.

 

  • Owner to Bear all Costs associated With the Work. The Owner shall be responsible for all costs incurred by the Owner and the Condominium in connection with the Work or this Agreement, including the fees and disbursements of any attorney , architect, engineer or consultant retained by the Condominium in connection with the Work  or the enforcement of this Agreement.  Without limiting the generality of the foregoing, the Owner specifically agrees to reimburse the Condominium for (a) all charges of the Condominium’s Designated Engineer for the review of the plans, drawings, and specifications submitted by the Owner, for ongoing site inspection of the Work and for any and all other costs related to the work or this agreement ( b) Attorneys’ fees and costs of suit arising from or related to the enforcement of this Agreement, including, but not limited to filing of a Common Charge lien and any subsequent foreclosure proceeding. Such fees shall be chargeable as additional common charges.Additional Requirements.
  • No Changes in Building Heating or Air Conditioning. The Owner understands and agrees that there will be no changes in the operation of the Building’s heating or air-condition system to facilitate the functioning of any heating or air conditioning units which the Owner may choose to install.
  • Prohibited Construction Methods. The Owner shall not interfere with the Building’s gas, electric, heating, air conditioning or plumbing system or any other Buildings system or service.

The use of electric, air, and jack hammers is prohibited, unless prior permission is granted by the Condominium, the Manager, or Designated Engineer.  In the event that such permission is granted, the Owner shall have an additional obligation to provide forty-eight hours notice to all neighbors on both sides and directly above and below the Owner’s apartment, including the approximate number of hours and days that such equipment will be used.

  • Accessibility of Valves: The Owner shall insure that all water, heat, a/c, gas and other valves remain accessible during the performance of and after the completion of the work.  If any valve is enclosed in violation of this Agreement, then the Condominium    may (i) require the Owner, at his/her sole expense, to remove such enclosure within a   time frame to be specified by the Condominium in its sole discretion and or (ii) to remove such enclosure at the Owners expense.
  • Use of Public and Common Areas During Work: The Owner shall not allow the halls, sidewalks, courtyards, and other public areas to be used for the storage of building materials or debris.  The Owner shall cause his/her contractor to take such steps as are deemed necessary by the Building to protect the carpeting, wall coverings, finishes and other improvements in the Building’s hallways, elevators, and other common areas.

            e–     Owner to Maintain Certain Safety Precautions:  The Owner shall maintain functioning fire extinguishes and smoke alarms in the Apartment throughout the performance of the Work.  The Owner shall ensure that the Work does not block access to any fire exits in the building. The Owner shall install smoke detectors and carbon monoxide within 15 feet of every sleeping area on the ceiling or walls pursuant to Local Law 62 of 1981 of the City of New York, and if a child 10 years old or younger lives in the Apartment, the Owner shall install window guards pursuant to Section 131.15 of the New York City Health Code.

 

f-   Owner to Control Refuse, Dirt, and Dust:  The Owner shall take all precautions to prevent dirt or dust from permeating other parts of the Building during the progress of the Work, and shall place all materials and rubbish in barrels or bags before removing same from the Apartment.  Owner shall ensure that all such barrels and bags and all rubbish, rubble, discarded equipment, empty packing cartons and other materials are removed from the Apartment and taken out of the Building at the Owners expense.

The Owner shall not permit any dumpster or garbage containers be left overnight in front of the building and will not permit any dumpster or garbage container to be left for more than five consecutive days at the Building.  Notwithstanding the foregoing, the placement of any dumpsters shall comply with all governmental regulations, including without limitation, any requirement that permits be obtained.

G-Lead Based- Paint:  The Federal Task Force on Lead- Based Paint Hazard

Reduction has recommended, and Local Law 38 of 1999 of the City of New York requires, in all buildings erected prior to January 1, 1960 certain maintenance practices, including (i) limiting access to the work area to only workers (ii) isolating the work area with polyethylene plastic or equivalent (iii) protecting workers , ( iv) protection the Owner’s belongings by covering or removing them from the work area , ( v) wetting the painted surfaces before disturbing the paint and (vi) wetting the debris before sweeping.  The Task Force has indicated that certain removal practices are unsafe including (i) open flame burning, (ii) power sanding or sandblasting (unless a special vacuum attachment is used to contain dust and (iii) dry scraping more than a de minimis surface area ( de minimis means an area of less than one square foot per room).  The Owner shall cause the Owner’s contractors and /or workers to perform the Work consistently with the recommendations of t he Task Force and shall upon completion of the Work perform specialized cleaning of the Work area using methods designed to safely remove dust and debris which may contain lead.  No more than sixty (60) days prior to beginning renovation activities in the Apartment, the Owner shall cause his/her contractor to provide to the Owner and any other occupant of the Apartment with the Environmental Protection Agency (the “EPA”), pamphlet entitled Protecting your Family from Lead in the Home (the “Pamphlet”), and the Owner shall furnish the contractor with a written acknowledgement of receipt.  The Owner hereby acknowledges that the Condominium has no liability or obligation in connection with this notification requirement of the EPA.

  • Installations by Owner: Owner acknowledges and agrees that:
  • All alterations , including custom installations, made to the subject apartment ( including , but not limited to windows, terrace doors, built –ins, through- the wall air conditioners, cabinets, and floor and wall coverings), are made at the Owner’s sole risk and are subject to each and every provision of this sub-paragraph h:
  • All alterations are subject to the Condominium Declaration , By-Laws, and Rules and Regulations.

(3) The Condominium, in its sole discretion, has the absolute and unfettered right to require the Owner to remove and /or to replace, at the Owner’s sole expense, any and all installations and alterations, including, but not limited to, windows, terrace doors, built-ins, cabinetry, window air conditioners, through the wall air conditioners, washing machines and dryers, ventilators and floor and wall coverings:

(4) In the event that the Condominium authorizes and undertakes work, which in its sole discretion, is necessary or desirable for the preservation, improvement, or restoration of the building, including, but not limited to, the facade, mechanicals, terraces, walls, floors, windows, and through –the- wall air conditioners, The Condominium’s ONLY obligation shall be to restore the Building to its original condition and shall have NO obligation to replace and / or repair custom alterations made by the Owner, notwithstanding whether the custom installations were previously approved by the Condominium, by it’s agents, by the Landmarks Preservation Commission, or any other governmental agency:

(5) The provisions of this sub-paragraph h and all other provisions contained in this Alteration Agreement and attached Exhibits, shall be binding on the Owner and his/her estate, heirs, executors, administrators, personal representatives, successors and assigns, notwithstanding that the alterations were previously approved by the Condominium, by it’s agents, by the Landmarks Preservation Commission, or by any other governmental  agency.

  • Washer / Dryer: Dryers must be self venting and approved by the Condominium.
  • NO CHANNELING of walls, ceilings or structural components shall be permitted.
  • Access to Building Systems: Owner shall notify the Condominium’s Managing Agent at least three (3) business days before opening the walls, floors, or ceilings which will expose building pipes, electrical conduit or other building systems. The Condominium shall have the right to inspect and repair, at its own expense, such building systems during the time when such systems are accessible.
  • The apartment owner agrees that during the course of the work and after completion they will pay the cost of any repairs or relocation to the building’s plumbing, heating or HVAC systems, caused by unit owner’s renovation work should this condition arise or exit.
  • Owner to Comply with Laws, Etc. The Owner shall not do or permit any act or thing to be done contrary to law, or which will invalidate or be in conflict with any provision of any liability, casualty, or any other insurance policies carried by the Owner or for the Owner’s benefit.  The Owner shall comply with all federal, state and local laws, rules and regulations pertaining to lead –based paint, asbestos and other hazardous material.
  • Maintenance and Repair of the Work.

Notwithstanding anything to the contrary contained in the Condominium Declaration, By Laws or Rules and Regulations the Owner shall be responsible for the maintenance, repair and replacement Of the Work and any portions of the Apartment affected by the Work, and for all costs incurred by the Condominium or the Owner in connection therewith.

  • Owner’s Security Deposit: Additional Common Charges: As security for the faithful performance and observance by the Owner of the terms and conditions of this Agreement, the Owner has deposited the sum indicated in Section I (c) with the Condominium.  The Owner agrees that the Condominium may use, apply or retain the whole or any part of the security so deposited and the interest earned thereon, if any, to the extent, required for the payment of any sums due to the Condominium under this Agreement, in excess of the non-refundable alteration agreement fee charged by the Condominium.  If the deposit is diminished by one-half of the original amount, the Owner shall replenish it to the full amount within five (5) days after written demand.  The Owner’s failure to so replenish the security deposit shall be a material breach of this Agreement and shall entitle the Condominium to stop the Work, and exercise any remedies it has hereunder.  Promptly upon completion of the Work the Building shall return the security deposit without interest to the Owner, less any amounts deducted in accordance with the terms of this Agreement, including, but not limited to the alteration agreement fee.  The Condominium’s release of the security deposit shall not constitute acceptance of the Work by the Condominium or a waiver of any of the Condominium’s rights under this agreement.  Any sums due to the Condominium under this agreement and not recovered by application of the security deposit shall be chargeable as additional Common Charges.
  • Owner’s Breach and Condominium’s Remedies. A breach of this Agreement by the Owner shall constitute a breach of the Agreement to Comply with the By -Laws.  In the event of such breach the Condominium shall have the right to (a) suspend the Work and prevent workers from entering the apartment for any purpose other than to remove their tools, (b) revoke it’s consent to the Work, and (c)  exercise any of the other rights and remedies provided for herein, including, but   not limited to, converting unpaid fines into a common charge lien that if unpaid could subject the Owner to a foreclosure proceeding and (d)   exercise such other rights and remedies as may be available to the Condominium under applicable law.
  • Assumption by Purchaser and other Third Parties: The Owner (I) shall have an absolute obligation to advise the person or persons to whom he/she transfers the Apartment (“Purchaser”) of the Work undertaken by the Owner pursuant to this Agreement; (ii) shall provide copies of the Plans and this Agreement (including all Attached Exhibits) to the Purchaser; and (iii) shall cause the Purchaser to execute and deliver to the Condominium an Assumption of Alteration Agreement in the form attached as Exhibit B to this Agreement and incorporated herein by reference, thereby obligating the Purchaser, without reservation, to assume all the obligations of Owner under this agreement ,including, but not limited to, this section 15.

The Owner hereby waives any claim against the Condominium on account of (i) the Condominium advising a potential Purchaser of the provisions of this Agreement, including this Section 15, and /or (ii) refusing to consent to or register the transfer of the Apartment to such potential Purchaser unless and until such potential Purchaser shall execute and deliver to the Condominium an Assumption of Alteration Agreement in the form of Exhibit B hereto.

Owner’s breach of this paragraph 15, whether deliberate or inadvertent, may cause the Condominium to withhold consent to the assignment and transfer of the apartment to a Purchaser or any third party assignee.  This paragraph shall apply equally to the Owner, his/her estate, heirs, executors, administrators, personal representatives, successors and assigns.

  • Paragraph Headings: Paragraph headings are for reference only and are not to be considered in interpreting or construing this Agreement.
  • Miscellaneous: This Agreement (including all attached exhibits), the Declaration, By-Laws and the Rule and Regulations represent the only agreements between the Condominium and the Owner relevant to the subject matter hereof.  This Agreement cannot be changed orally.  This agreement shall be binding on the Owner’s and his/ her estate, heirs, executors, administrators, personal representatives, successors, and assigns.
  • CONDOMINIUM’S REMEDIES: IN THE EVENT OF A BREACH OR THREATENED BREACH BY THE OWNER OF ANY TERM, PROVISION, OR CONDITION HEREOF, THE CONDOMINIUM SHALL HAVE THE RIGHT OF INJUCTION AND THE RIGHT TO INVOKE ANY REMEDY ALLOWED AT LAW OR IN EQUITY AS IF OTHER REMEDIES WERE NOT PROVIDED HEREIN.
  • WAIVER OF TRIAL BY JURY: THE CONDOMINIUM AND THE OWNER SHALL, AND THEY HEREBY DO WAIVE TRIAL BY JURY, IN ANY ACTION, PROCEEDINGS, OR COUNTERCLAIM BROUGHT BY EITHER OF THE PARTIES HERETO AGAINST THE OTHER ON ANY MATTERS WHATSOEVER ARISING OUT OF, OR IN ANY WAY CONNECTED WITH THIS AGREEMENT, OR ANY CLAIM OR DAMAGE RESULTING FROM ANY ACTION OR OMISSION OF THE PARTIES IN ANY WAY CONNECTED TO THIS AGREEMENT INCLUDING, BUT NOT LIMITED TO, OWNER’S USE OR OCCUPANCY OF THE APARTMENT.
  • CHOICE OF LAW : THIS AGREEMENT SHALL BECOME VALID ONLY UPON BOTH THE OWNER AND THE CONDOMINIUM EXCUTING THIS AGREEMENT.  THIS AGREEMENT SHALL BE DEEMED TO HAVE BEEN SIGNED BY THE OWNER IN THE STATE OF NEW YORK NOTWITHSTANDING WHERE IT MAY HAVE BEEN SIGNED, THE OWNER AND THE CONDOMINIUM AGREE THAT ALL DISPUTES RELATED TO OR ARISING FROM THIS AGREEMENT SHALL BE GOVERNED AND CONSTRUED UNDER AND IN TERMS OF THE LAWS OF THE STATE OFNEW YORK.
  • CHOICE OF FORUM: THE CONDOMINIUM AND OWNER AGREE THAT ANY ACTION OR PROCEEDING, BROUGHT BY EITHER PARTY HERTO IN ANY ACTION OR CONTER CLAIM, SHALL BE BROUGHT IN A COURT OF COMPETENT JURISDICTION IN THE STATE OF NEW YORK, COUNTY OF NEW YORK, TO THE EXCLUSION OF ALL OTHER FORUMS.
  1. LEGAL FEES AND EXPENSES: IF THE OWNER SHALL AT ANY TIME FAIL TO COMPLY WITH THE TERMS OFTHIS AGREEMENT AND THE CONDOMINIUM SHALL INCUR ANY EXPENSE (WHETHER PAID OR NOT) IN PERFORMING ACTS WHICH THE OWNER IS REQUIRED TO PERFORM, OR IN FILING ANY ACTION OR PROCEEDING BASED ON SUCH ACTS OR FAILURE TO ACT, OR IN DEFENDING OR ASSERTING A COUNTERCLAIM IN ANY ACTION OR PROCEEDING BROUGHT BY THE OWNER, THEN ALL EXPENSES INCURRED BY THE CONDOMINIUM, INCLUDING REASONABLE ATTORNEY FEES, COST OF SUIT, OUT OF POCKET EXPENSES, AND OTHER DISBURSEMENTS, SHALL BE PAID BY THE OWNER TO THE CONDOMINIUM, ON DEMAND, AS ADDITIONAL COMMON CHARGE
  2. PERMISSION: By executing this Alteration Agreement, the Condominium is grating permission to the Owner to perform the Work pursuant to the Plans and this Agreement, as amended.  This permission can be revoked at any time on written notice to the Owner as a result of The Owner’s or his / her agent’s violations of the terms of this Agreement.

IN WITNESS WHEREOF. The Owner has executed this agreement, including all attached Exhibits, and the Condominium has consented to the proposed alteration.

___________________                                                            _______________

Owner                                                                                      Dated

____________________                                                     ________________

Owner                                                                                         Dated

Consent to Alteration Granted

[Building Management Company]

By:   ___________________________                                   _______________

President                                                                         Dated

Every page of this Alteration Agreement and all attached Exhibits must be initialed and dated by the Owner(s).

Initial: ______________   Initial: _______________    Date: _________________


EXHIBIT A

Each of Owner’s contractors shall provide insurance of the types and not less than the limits set forth below with a company or companies satisfactory to the Condominium, licensed to do business in the State of New York, and all such policies shall name the Condominium, the Condominium’s Board Managers, officers, directors, Owners and the Condominium’s Designated Engineer and the Condominium’s Managing Agent as additional named insured.  No diminution of limits of insurance will be permitted.

(i)WORKERS COMPENSATION as required by law together with Employer’s Liability Insurance and Disability Benefits Insurance as required by the State of New York.

 (ii)COMMERCIAL GENERAL LIBILITY including Contractor’s Liability and Blanket Contractual Liability (oral and written) all on an occurrence basis with Personal Injury Coverage, which shall include mental anguish as well as standard conditions, and Board Form Property Damage, without any exclusion relating to Explosion, Collapse and Underground Property Damage.

The policy will contain the “Broad Form Comprehensive General Liability” endorsement in Section 1 in such form as may be required by the Corporation; the exclusion pertaining to liability assumed by the Contractor under any contract or agreement (Section II Section B (1) is to be deleted. The Completed Operations Coverage is to extend for a period of one year following termination of the Work.  The policy is also to include (a) Owners Protective Liability Coverage, (b) Knowledge of Occurrence and Notice of Occurrence endorsements and (c) Unintentional Errors and Omissions clause.  The policy shall also include coverage with respect to asbestos exposure if the Work involves any asbestos –containing material, and shall not include a sunset cause without the Corporation’s consent.

$ 1,000,000 BODILY INJURY & PROPERTY DAMAGE (Combined single limit)

  • COMPREHENSIVE AUTOMOBILE LIABILTY, including non-ownership and hired car coverage, as well as owned vehicles:

$ 1,000,000 BODILY INJUR Y & PROPERTY DAMAGE (Combined single limit)

  • UMBRELLA LIABILITY, BODILY INJURY, PERSONAL INJURY AND PROPERTY DAMAGE if umbrellas are written in more than one company and layers above the first shall follow the form of the primary umbrella.

$ 3,000,000 combined  (Combined single limit)

  • Amounts of insurance required may be higher for major renovations as designated by the Condominium.

Prior to the commencement of any work hereunder, detailed certificates of insurance shall be furnished to the Condominium, showing that such insurance is in full force and the premiums due hereunder have been paid.  Such certificates shall provide that the said insurance may not be cancelled, terminated, or modified without (10) days written advance notice thereof to the Condominium.  The Contractor shall promptly furnish the Condominium with copies of any endorsements subsequently issued amending insurance coverage or limits.

In the event of the failure of the Contractor to furnish and maintain such insurance, the Condominium shall have the right, at its option, at any time:

  • To revoke permission to perform the work and to deny entry into the Building of all workers, expect that if such workers are escorted by a member of the Building’s staff, they shall be permitted to remove their tools and supplies, or
  • To take out and maintain the said insurance for and in the name of the Condominium, the Contractor, Owner, and, in such a case, the Owner agrees to pay the cost thereof and to furnish all information and consents necessary to permit the Condominium to take out and maintain such insurance for and in the name of the Condominium, the Contractor and the Owner.

Compliance with the foregoing requirements to carry insurance and furnish certificates shall not relieve the Owner from liability assumed under any provisions of this Agreement.

The Contractor’s insurance policy shall also contain in substance the following endorsement:

The insurance shall not be invalidated should the insured waive, in writing, prior to loss, any or all right of recovery against any party for the loss occurring to the property described herein.

Nothing in this Exhibit A shall constitute a waiver of or limitation of any other rights or remedies the Condominium may have consequential damages or otherwise.

Agreed and accepted this date ______________________

______________________________

Owner

______________________________

Owner

 

EXHIBIT B

ASSUMPTION OF ALTERATION AGREEMENT

WHEREAS, simultaneously with its execution and delivery of this Assumption of Alteration Agreement, the undersigned who has submitted an application to the Board of Managers of the [Building Management Company] to accept an assignment of a Unit Deed and Ownership in the [Building Management Company] (the “Corporation” or the “Condominium”), and Apartment [unit number] (The “Apartment”) in the building known as [address] and ________________.

WHEREAS, The Owner (The “Current Owner”) of the Apartment and the Corporation entered into an Alteration Agreement dated as of the first date herein (the “Alteration Agreement”), a copy of which is attached hereto, and

WHEREAS, the Alteration Agreement (i) requires the Current Owner to provide a copy of the Alteration Agreement and all attached Exhibits to any and all  third parties seeking to accept an assignment of Deed and Ownership and the Condominium; and (ii) further provides that any person acquiring the Apartment shall assume the obligations of the Owner under the Agreement; and (iii) further authorizes the Condominium , at its sole discretion, to withhold consent to or register the transfer of the Apartment to ant person unless and until such person assumes the obligations of the Current Owner under the Agreement;

NOW, THEREFORE, in order to induce the Condominium to consent and register the transfer of the apartment to be undersigned, the undersigned hereby ASSUMES AND AGREES TO PERFORM AND OBSERVE all the terms, covenants and conditions of the Alteration Agreement that were required to be performed or observed by the current Owner.  The undersigned further acknowledged and agree that the previsions of Section 16 of the Alteration Agreement shall bind and pertain to all future transfers and transferees.

Henceforth, the term “Owner” as used in the Alteration Agreement shall include the undersigned.  Any breach of this assumption of Alteration Agreements or of the Alterations Agreement shall constitute a breach and the relevant fines /charges will de due as additional charges.  The assumption of the Alteration Agreement shall be binding on the undersigned and his/her estate, heirs, executors, administrators, personal representatives, successors and assigns________________________.

Agreed and accepted this:                    _________________Day __________of 20 ________.

 

_________________________________________________ (LS)

 

_________________________________________________ (LS)

Every page of this Alteration Agreement and all attached Exhibits must be initialed and dated by owner (s).

Initial: _____________________Initial _________________________ Date: _______________

Disclosure: Hauseit and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.

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