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Residential Contract of Sale 11-2000 Jointly prepared by the Real Property Section of the New York State Bar Association, the New York State Land Title Association, the Committee on Real Property Law of the Association of the Bar of the City of New York and the Committee on Real Property Law of the New York County Lawyers' Association WARNING: NO REPRESENTATION IS MADE THAT THIS FORM OF CONTRACT FOR THE SALE AND PURCHASE OF REAL ESTATE COMPLIES WITH SECTION 5-702 OF THE GENERAL OBLIGATIONS LAW ("PLAIN LANGUAGE"). CONSULT YOUR LAWYER BEFORE SIGNING THIS AGREEMENT NOTE: FIRE AND CASUALTY LOSSES AND CONDEMNATION This contract form does not provide for what happens in the event of fire, or other casualty loss or condemnation before the title closing. Unless different provision is made in this contract, Section 5-1311 of the General Obligations Law will apply. One part of that law makes a Purchaser responsible for fire and casualty loss upon taking possession of the Premises before the title closing. Residential Contract of Sale Contract of Sale made as of BETWEEN Address: Social Security Number/Fed. I.D. No.(s): hereinafter called "Seller" and Address: Social Security Number/Fed. I.D. No.(s): COURT COUNTY .OF. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ......... .. : : Plaintiff(s) -against: : hereinafter called "Purchaser" Index No. Calendar No. The parties hereby agree as follows: JUDICIAL SUBPOENA 1. Premises. Seller shall sell and convey and Purchaser shall held in escrow pursuant to paragraph 6 of this contract (the purchase the property, together with all buildings and improvements "Downpayment"): : $ thereon (collectively the "Premises"), more fully described on a (b) By allowance for the principal amount unpaid on the existing separate page marked "Schedule A", annexed hereto and made a part mortgage on the date hereof, payment of which Purchaser shall : hereof and also known as: assume by joinder in the deed: $ Defendant(s) : Street Address: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .(c) . . By . a . purchase . money note and mortgage from Purchaser to .. ... . ........ ... Tax Map Designation: Seller: $ (d) Balance at Closing in accordance with paragraph 7: Together with Seller's ownership and rights, if any, to land lying in $ the bed of any street or highway, opened or THE PEOPLE OF THE the proposed, adjoining STATE OF NEW YORK Premises to the center line thereof, including any right of Seller to 4. Existing Mortgage. (Delete if inapplicable) If this sale is subject TO any unpaid award by reason of any taking by condemnation and/or to an existing mortgage as indicated in paragraph 3(b) above: for any damage to the Premises by reason of change of grade of any (a) The Premises shall be conveyed subject to the continuing lien of street or highway. Seller shall deliver at no additional cost to the existing mortgage, which is presently payable, with interest Purchaser, at Closing (as hereinafter defined), or thereafter, on at the rate of percent per annum, in monthly GREETINGS: demand, any documents that Purchaser may reasonably require for installments of $ WE COMMAND the conveyance of such title and the assignment and collection of YOU, that all business and excuses being laid interest and escrow you attend before which include principal, aside, you and each of amounts, if any, , the Honorable at any Court such award or damages. and withthe balance of principal being due and payable on 2. Personal Property. articles of personal property now attached or appurtenant to the existing mortgage between the date hereof and Closing which Premises, unless specifically excluded below. Seller represents and reduce the unpaid principal amount thereof below the amount warrants that at Closing they will be paid for and owned by Seller, shown in paragraph 3(b), then the balance of the price payable at Your failure to comply with this subpoena is under paragraph 3(d) shall be and will make you liable to free and clear of all liens and encumbrances, except any existing Closing punishable as a contempt of court increased by the amount the party on whose behalf this mortgage to which this sale may be subject. They include, but are subpoena was issued for a maximum penalty of $50 and all damages sustained asthe of payments of principal. Seller represents and warrants that a not limited to, plumbing, heating, lightingresult of your failure to comply. and cooking fixtures, amount shown in paragraph 3(b) is substantially correct and chandeliers, bathroom and kitchen cabinets and counters, mantels, agrees that only payments required by the existing mortgage will Witness, blinds, , one and Closing. door mirrors, switch plates and door hardware, venetian Honorable be made between the date hereof of the Justices of the Court in windows, storm County, day of If there is ,a mortgagee escrow account, Seller shall assign it to 20 window treatments, shades, screens, awnings, storm (c) doors, window boxes, mail box, TV aerials, weather vane, flagpole, Purchaser, if it can be assigned, and in that case Purchaser shall pumps, shrubbery, fencing, outdoor statuary, tool shed, dishwasher, pay the amount in the escrow account to Seller at Closing. (Attorney must sign at Closing a certificate washing machine, clothes dryer, garbage disposal unit, range, oven, (d) Seller shall deliver to Purchaser above and type name below) dated not built-in-microwave oven, refrigerator, freezer, air conditioning more that 30 days before Closing signed by the holder of the equipment and installations, wall to wall carpeting and built-ins not existing mortgage, in form for recording, certifying the amount Attorney(s) date excluded below (strike out inapplicable items). of the unpaid principal, the for to which interest has been paid and the amounts, if any, claimed to be unpaid for principal and Excluded from this sale are furniture and household furnishings and interest, itemizing the same. Seller shall pay the fees for recording such certificate. If the holder of the existing mortgage Office and P.O. Address is a bank or other institution as defined in Section 274-a of the 3. Purchase Price. The purchase price is $ Real Property Law it may, instead of the certificate, furnish a payable as follows: letter signed by a duly authorized officer, employee or agent, Telephone No.: (a) On the signing of this contract, by Purchaser's good check dated not more then 30 days before