Note: This form is intended to deal with matters common to most transactions involving the sale of a condominium unit. Provisions should be added, altered or deleted to suit the circumstances of a particular transaction. No representation is made that this form of contract complies with Section 5-702 of the General Obligations Law (“Plain Language Law”).

### CONSULT YOUR LAWYER BEFORE SIGNING THIS AGREEMENT

## Condominium Unit – Contract of Sale

#### This Contract made as of between

#### having a residence or principal place of business at

#### and (The“Seller”)

#### having a residence or principal place of business at

#### (“The Purchaser”)

1. Unit: The Seller agrees to sell and convey, and the Purchaser agrees to purchase the unit known as Unit No. (“Unit”) in the building (“Building”) known as Condominium (“Condominium”) and located at ,New York, together with an undivided \_\_\_\_\_\_\_\_\_\_ percent interest in the Common elements (as defined in para. 6) appurtenant thereto, subject to the terms and conditions set forth. The Unit shall be as designated in the Declaration of Condominium Ownership and By-Laws (as the same may be amended from time to time, the “By- Laws”) of the Condominium.

- 2. Personal Property: Included in this sale: (a) The sale includes all of Seller’s right, title and interest, if any, in and to:

(a) The Seller is the sole rightful owner of the Unit and the personal property described in subpara. 2(a), and Seller has the full right, power and authority to sell, convey and transfer the same;

(i) the refrigerators including ice makers, freezers, ranges, ovens and built in microwave ovens, dishwashers, clothes washing machines, clothes dryers, cabinets and counters, lighting and plumbing fixtures, air conditioning equipment, venetian blinds, shades, screens, storm windows and other window treatments, wall-to-wall carpeting, bookshelves, switch plates, door hardware, built-ins, fireplace equipment, built in wine racks, mantels, stained glass, built in mirrors and articles of property and fixtures attached to or appurtenant to the Unit, except those listed in subpapa. 2(b), all of which included property and fixtures are represented to be owned by Seller, free and clear of all liens and encumbrances other than those encumbrances (“Permitted Exceptions”) set forth on Schedule A (strike inapplicable items); and through are $ (e) Seller is not a “sponsor” or a nominee of a “sponsor” under any (ii) additional other specific Personal Property included in this sale additional other specific Personal Property included in this sale plan of condominium organization affecting the Unit; (f) All refrigerators including ice makers, freezers, ranges, ovens and built in microwave ovens, dishwashers, clothes washing machines, clothes dryers, cabinets and counters, lighting and plumbing fixtures, air conditioning equipment, Venetian blinds, shades, screens, storm (b) Excluded from this sale are: Excluded from this sale are: windows and other window treatments, wall-to-wall carpeting, bookshelves, switch plates, door hardware, built-ins, fireplace (i) furniture and furnishings (other than as specifically provided in this Contract); and furniture and furnishings (other than as specifically provided in equipment, built in wine racks, mantels, stained glass, built in mirrors this Contract); and and articles or property included in this sale will be in working order at the time of Closing; (ii) additional other specific Personal Property excluded from this sale additional other specific Personal Property excluded from this sale (g) If a copy is attached to this Contract, the copy of the Certificate of Occupancy covering the Unit is a true and correct copy; and (h) Seller is not a “foreign person” as defined in IRC #1445 as (c)The property referred to in subpara. 2(a)(i) and (ii) may not be purchased if title to the Unit is not conveyed pursuant to this contract. property referred to in subpara. 2(a)(i) and (ii) may not be amended, and the regulations thereunder (Code Withholding purchased if title to the Unit is not conveyed pursuant to this contract. Section). (If applicable, delete and provide for compliance with Code Withholding Section, as defined in para. 18). 3. Purchase Price: (a) The purchase price (“Purchase Price”) is $ , payable as follows: (i) $ (“Downpayment”) on the signing of this Contract by check subject to collection, the receipt of which is hereby recognized, to be held in escrow pursuant to para. 16; and (ii) $ representing the balance of the Purchase Price, by certified check of Purchaser or official bank check (except as otherwise provided in this Contract) on the delivery of the deed. Purchase Price: (a) The purchase price (“Purchase Price”) is 6. Closing Documents: Closing Documents: (a) At the Closing, Seller shall deliver to $ , payable as follows: Purchaser the following: (i) $ (“Downpayment”) on the (i) Bargain and sale deed with covenant against grantor’s acts signing of this Contract by check subject to collection, the receipt of (“Deed”), complying with RPL β 339-0 and containing the covenant which is hereby recognized, to be held in escrow pursuant to para. 16; required by LL β 13 (5), conveying to Purchaser title to the Unit, and and any garage or storage units appurtenant to the Unit, together with its (ii) $ representing the balance undivided interest in the Common Elements (as such term is defined of the Purchase Price, by certified check of Purchaser or official bank in the Declaration and which term shall be deemed to include Seller’s check (except as otherwise provided in this Contract) on the delivery of right, title and interest in any limited common elements attributable the deed. to or used in connection with the Unit) appurtenant thereto, free and clear of all liens and encumbrances other than Permitted Exceptions. (b) All instruments in payment of the Purchase Price shall represent United States currency and be drawn on or issued by a bank or trust company authorized to accept deposits in New York State. All checks in payment of the Downpayment shall be payable to the order of Escrowee (as hereinafter defined). All checks in payment of the balance of the Purchase Price shall be payable to the order of the Seller (or as Seller otherwise directs pursuant to subparas. 6(a)(ix) or 19(b)). All instruments in payment of the Purchase Price shall represent The Deed shall be executed and acknowledged by Seller and, if United States currency and be drawn on or issued by a bank or trust requested by the Condominium, executed and acknowledged by company authorized to accept deposits in New York State. All checks Purchaser, in proper statutory form for recording; in payment of the Downpayment shall be payable to the order of (ii) If a corporation and if required pursuant to BCL β 909, Seller Escrowee (as hereinafter defined). All checks in payment of the shall deliver to Purchaser (1) a resolution of its board of directors balance of the Purchase Price shall be payable to the order of the Seller authorizing the delivery of the Deed or a statement included in the (or as Seller otherwise directs pursuant to subparas. 6(a)(ix) or 19(b)). Deed as follows: “This conveyance is made in the ordinary course of business actually conducted by the Grantor”, and (2) a certificate (c) Aside from the Downpayment and checks aggregating not more than one-half of one percent of the Purchase Price, including closing adjustments, all checks delivered by Purchaser shall be certified or official bank checks as herein provided. Aside from the Downpayment and checks aggregating not more than executed by an officer of such corporation certifying as to the one-half of one percent of the Purchase Price, including closing adoption of such resolution and setting forth facts demonstrating that adjustments, all checks delivered by Purchaser shall be certified or the delivery of the Deed is in conformity with the requirements of official bank checks as herein provided. BCL β 909. The Deed shall also contain a recital sufficient to establish compliance with such law; 4. Closing of Title: The closing documents referred to in para. 6 shall be delivered, and payment of the balance of the Purchase Price shall be made, at The Closing, to be held on at M., at the offices of or at the office of Purchaser’s lending institution or its counsel; provided, however, that such office is located in either the City or County in which either (a) Seller’s attorney maintains an office or (b) the Unit is located. Closing of Title: The closing documents referred to in para. 6 (iii) A waiver of right of first refusal of the board of managers of shall be delivered, and payment of the balance of the Purchase Price the Condominium (“Board”) if required in accordance with para. 8; shall be made, at The Closing, to be held on (iv) A statement by the Condominium or its managing agent on at M., at the offices of behalf of and authorized by the Condominium that the common or at the office of Purchaser’s lending institution or its counsel; provided, charges and any assessments then due and payable to the however, that such office is located in either the City or County in which Condominium have been paid to the date of the Closing; either (a) Seller’s attorney maintains an office or (b) the Unit is located. (v) All keys to the doors of, and mailbox and for, the Unit; and storage units. 5. Representations, Warranties and Covenants: The Seller (vi) Such affidavits and/or other evidence as the title company unconditionally represents, warrants and covenants that: (“Title Company”) from which Purchaser has ordered a title set forth on Schedule A (strike inapplicable items); and

(b) The common charges imposed by the Condominium (excluding separately billed utility charges) for the Unit on the date hereof are $ per month; (c) Seller has not received any notice, written or oral, of any intended assessment or increase in common charges not reflected in subpara.5(b). Purchaser acknowledges that it will not have the right to cancel this Contract in the event of the imposition of any assessment or increase in common charges after the date hereof of which Seller has not heretofore received written or oral notice; (d) The real estate taxes for the Unit for the fiscal year of

Exceptions”) set forth on Schedule A (strike inapplicable items); and through are $ (e) Seller is not a “sponsor” or a nominee of a “sponsor” under any (ii) additional other specific Personal Property included in this sale additional other specific Personal Property included in this sale plan of condominium organization affecting the Unit; (f) All refrigerators including ice makers, freezers, ranges, ovens and built in microwave ovens, dishwashers, clothes washing machines, clothes dryers, cabinets and counters, lighting and plumbing fixtures, air conditioning equipment, Venetian blinds, shades, screens, storm (b) Excluded from this sale are: Excluded from this sale are: windows and other window treatments, wall-to-wall carpeting, bookshelves, switch plates, door hardware, built-ins, fireplace (i) furniture and furnishings (other than as specifically provided in this Contract); and furniture and furnishings (other than as specifically provided in equipment, built in wine racks, mantels, stained glass, built in mirrors this Contract); and and articles or property included in this sale will be in working order at the time of Closing; (ii) additional other specific Personal Property excluded from this sale additional other specific Personal Property excluded from this sale (g) If a copy is attached to this Contract, the copy of the Certificate of Occupancy covering the Unit is a true and correct copy; and (h) Seller is not a “foreign person” as defined in IRC #1445 as (c)The property referred to in subpara. 2(a)(i) and (ii) may not be purchased if title to the Unit is not conveyed pursuant to this contract. property referred to in subpara. 2(a)(i) and (ii) may not be amended, and the regulations thereunder (Code Withholding purchased if title to the Unit is not conveyed pursuant to this contract. Section). (If applicable, delete and provide for compliance with Code Withholding Section, as defined in para. 18). 3. Purchase Price: (a) The purchase price (“Purchase Price”) is $ , payable as follows: (i) $ (“Downpayment”) on the signing of this Contract by check subject to collection, the receipt of which is hereby recognized, to be held in escrow pursuant to para. 16; and (ii) $ representing the balance of the Purchase Price, by certified check of Purchaser or official bank check (except as otherwise provided in this Contract) on the delivery of the deed. Purchase Price: (a) The purchase price (“Purchase Price”) is 6. Closing Documents: Closing Documents: (a) At the Closing, Seller shall deliver to $ , payable as follows: Purchaser the following: (i) $ (“Downpayment”) on the (i) Bargain and sale deed with covenant against grantor’s acts signing of this Contract by check subject to collection, the receipt of (“Deed”), complying with RPL β 339-0 and containing the covenant which is hereby recognized, to be held in escrow pursuant to para. 16; required by LL β 13 (5), conveying to Purchaser title to the Unit, and and any garage or storage units appurtenant to the Unit, together with its (ii) $ representing the balance undivided interest in the Common Elements (as such term is defined of the Purchase Price, by certified check of Purchaser or official bank in the Declaration and which term shall be deemed to include Seller’s check (except as otherwise provided in this Contract) on the delivery of right, title and interest in any limited common elements attributable the deed. to or used in connection with the Unit) appurtenant thereto, free and clear of all liens and encumbrances other than Permitted Exceptions. (b) All instruments in payment of the Purchase Price shall represent United States currency and be drawn on or issued by a bank or trust company authorized to accept deposits in New York State. All checks in payment of the Downpayment shall be payable to the order of Escrowee (as hereinafter defined). All checks in payment of the balance of the Purchase Price shall be payable to the order of the Seller (or as Seller otherwise directs pursuant to subparas. 6(a)(ix) or 19(b)). All instruments in payment of the Purchase Price shall represent The Deed shall be executed and acknowledged by Seller and, if United States currency and be drawn on or issued by a bank or trust requested by the Condominium, executed and acknowledged by company authorized to accept deposits in New York State. All checks Purchaser, in proper statutory form for recording; in payment of the Downpayment shall be payable to the order of (ii) If a corporation and if required pursuant to BCL β 909, Seller Escrowee (as hereinafter defined). All checks in payment of the shall deliver to Purchaser (1) a resolution of its board of directors balance of the Purchase Price shall be payable to the order of the Seller authorizing the delivery of the Deed or a statement included in the (or as Seller otherwise directs pursuant to subparas. 6(a)(ix) or 19(b)). Deed as follows: “This conveyance is made in the ordinary course of business actually conducted by the Grantor”, and (2) a certificate (c) Aside from the Downpayment and checks aggregating not more than one-half of one percent of the Purchase Price, including closing adjustments, all checks delivered by Purchaser shall be certified or official bank checks as herein provided. Aside from the Downpayment and checks aggregating not more than executed by an officer of such corporation certifying as to the one-half of one percent of the Purchase Price, including closing adoption of such resolution and setting forth facts demonstrating that adjustments, all checks delivered by Purchaser shall be certified or the delivery of the Deed is in conformity with the requirements of official bank checks as herein provided. BCL β 909. The Deed shall also contain a recital sufficient to establish compliance with such law; 4. Closing of Title: The closing documents referred to in para. 6 shall be delivered, and payment of the balance of the Purchase Price shall be made, at The Closing, to be held on at M., at the offices of or at the office of Purchaser’s lending institution or its counsel; provided, however, that such office is located in either the City or County in which either (a) Seller’s attorney maintains an office or (b) the Unit is located. Closing of Title: The closing documents referred to in para. 6 (iii) A waiver of right of first refusal of the board of managers of shall be delivered, and payment of the balance of the Purchase Price the Condominium (“Board”) if required in accordance with para. 8; shall be made, at The Closing, to be held on (iv) A statement by the Condominium or its managing agent on at M., at the offices of behalf of and authorized by the Condominium that the common or at the office of Purchaser’s lending institution or its counsel; provided, charges and any assessments then due and payable to the however, that such office is located in either the City or County in which Condominium have been paid to the date of the Closing; either (a) Seller’s attorney maintains an office or (b) the Unit is located. (v) All keys to the doors of, and mailbox and for, the Unit; and storage units. 5. Representations, Warranties and Covenants: The Seller (vi) Such affidavits and/or other evidence as the title company unconditionally represents, warrants and covenants that: (“Title Company”) from which Purchaser has ordered a title

(ii) additional other specific Personal Property included in this sale

(b) Excluded from this sale are:

(i) furniture and furnishings (other than as specifically provided in this Contract); and

(ii) additional other specific Personal Property excluded from this sale

(c)The property referred to in subpara. 2(a)(i) and (ii) may not be purchased if title to the Unit is not conveyed pursuant to this contract.

3. Purchase Price: (a) The purchase price (“Purchase Price”) is $ , payable as follows: (i) $ (“Downpayment”) on the signing of this Contract by check subject to collection, the receipt of which is hereby recognized, to be held in escrow pursuant to para. 16; and (ii) $ representing the balance of the Purchase Price, by certified check of Purchaser or official bank check (except as otherwise provided in this Contract) on the delivery of the deed.

(b) All instruments in payment of the Purchase Price shall represent United States currency and be drawn on or issued by a bank or trust company authorized to accept deposits in New York State. All checks in payment of the Downpayment shall be payable to the order of Escrowee (as hereinafter defined). All checks in payment of the balance of the Purchase Price shall be payable to the order of the Seller (or as Seller otherwise directs pursuant to subparas. 6(a)(ix) or 19(b)).

(c) Aside from the Downpayment and checks aggregating not more than one-half of one percent of the Purchase Price, including closing adjustments, all checks delivered by Purchaser shall be certified or official bank checks as herein provided.

4. Closing of Title: The closing documents referred to in para. 6 shall be delivered, and payment of the balance of the Purchase Price shall be made, at The Closing, to be held on at M., at the offices of or at the office of Purchaser’s lending institution or its counsel; provided, however, that such office is located in either the City or County in which either (a) Seller’s attorney maintains an office or (b) the Unit is located.