Document:

<PAGE> 1

                                  EXHIBIT 10.4

                    FORM OF NEW YORK COMMUNITY BANCORP, INC.
                        STOCK OPTION ASSUMPTION AGREEMENT

<PAGE> 2

                        STOCK OPTION ASSUMPTION AGREEMENT

Dear [Optionee]:

         As you know, on October 31, 2003 (the "Closing Date"),  Roslyn Bancorp,
Inc. ("Roslyn") merged with and into New York Community Bancorp,  Inc. ("NYCB"),
a Delaware  corporation (the "Merger").  In the Merger, each holder of shares of
Roslyn  common  stock,  received  0.75 of a shares of NYCB common stock for each
share of Roslyn  common stock (the  "Exchange  Ratio").  On the Closing Date you
held one or more  outstanding  options to purchase shares of Roslyn common stock
granted to you under either the TR Financial  Corp.  1993 Incentive Stock Option
Plan, as amended and restated  ("1993  Plan"),  the Amended and Restated  Roslyn
Bancorp,  Inc.  1997  Stock-Based  Incentive  Plans ("1997 Plan") and the Roslyn
Bancorp,  Inc. 2001 Stock-Based Incentive Plan ("2001 Plan") and documented with
a Stock Option  Agreement(s)  and/or  Notice(s) of Grant of Stock Option and any
amendment(s) or waiver(s) thereto (collectively,  the "Option Agreement") issued
to you under the 1993 Plan,  the 1999 Plan or the 2001 Plan, as applicable  (the
"Roslyn  Options").  In  accordance  with the Merger,  on the Closing  Date NYCB
assumed all  obligations  of Roslyn  under the Roslyn  Options.  This  Agreement
evidences  the  assumption  of  the  Roslyn  Options,  including  the  necessary
adjustments to the Roslyn Options required by the Merger.

         Your  Roslyn  Options  immediately  before  and after the Merger are as
follows:

                OPTIONEE'S OUTSTANDING OPTIONS TO PURCHASE SHARES
                             OF ROSLYN BANCORP, INC.
                                  (PRE-MERGER)

<TABLE>
<CAPTION>

    <S>                     <C>                    <C>                   <C>                      <C>

    Date of Grant           Name of Plan           Type of Option        Number of Options        Exercise Price
--------------------  ---------------------    --------------------   ----------------------    -----------------

</TABLE>

                OPTIONEE'S OUTSTANDING OPTIONS TO PURCHASE SHARES
                OF NEW YORK COMMUNITY BANCORP, INC. COMMON STOCK
                                  (POST-MERGER)
<TABLE>
<CAPTION>

    <S>                     <C>                    <C>                   <C>                      <C>

    Date of Grant           Name of Plan           Type of Option        Number of Options        Exercise Price
--------------------  ---------------------    --------------------   ----------------------    -----------------

</TABLE>

The post-merger adjustments are based on the Exchange Ratio and are intended to:
(i) to  preserve,  on a per share  basis,  the ratio of  exercise  price to fair
market  value that  existed  immediately  prior to the  Merger;  and (ii) to the
extent  applicable by law, to retain incentive stock option ("ISO") status under
the Federal tax laws.

<PAGE> 3

         Unless the context otherwise requires, any references in the 1993 Plan,
1999 Plan or the 2001 Plan and the Option  Agreement (i) to the "Company" or the
"Corporation"  means NYCB,  (ii) to "Stock,"  "Common  Stock" or "Shares"  means
shares of NYCB common  stock,  (iii) to the "Board of  Directors" or the "Board"
means  the  Board of  Directors  of NYCB and (iv) to the  "Committee"  means the
Compensation  Committee of the NYCB Board of  Directors.  All  references in the
Option  Agreement  and the Plan relating to your status as an employee of Roslyn
will now refer to your  status as an  employee  of NYCB or any present or future
NYCB  subsidiary.  To the  extent the Option  Agreement  allowed  you to deliver
shares of Roslyn common stock as payment for the exercise price,  shares of NYCB
common stock may be delivered in payment of the adjusted exercise price, and the
period for which  such  shares  were held as Roslyn  common  stock  prior to the
Merger will be taken into account.

         The grant date,  vesting  commencement  date,  vesting schedule and the
expiration  date of your assumed  NYCB  Options  remain the same as set forth in
your  Option  Agreement,  but the  number  of  shares  subject  to each  vesting
installment has been adjusted to reflect the Exchange Ratio, as applicable.  All
other  provisions  which govern  either the exercise or the  termination  of the
assumed NYCB Option remain the same as set forth in your Option  Agreement,  and
the  provisions of the Option  Agreement  (except as expressly  modified by this
Agreement  and the  Merger)  will  govern and  control  your  rights  under this
Agreement to purchase  shares of NYCB common  stock.  Upon your  termination  of
employment  with NYCB you will have the limited  time period  specified  in your
Option  Agreement to exercise your assumed NYCB Option.  Incentive Stock Options
("ISO")  exercised later than 3 months following  termination of employment (for
reasons other than death and disability) will be treated as non-statutory  stock
options for tax purposes.  You  beneficiary or estate has one (1) year from your
death the exercise your ISOs.

         To exercise  your  assumed  NYCB  Option,  you must deliver to Victoria
Kalligeros  in the NYCB  Human  Resources  Department  (i) a  written  notice of
exercise  for the number of shares of NYCB  common  stock you want to  purchase,
(ii) the adjusted  exercise price, and (iii) all applicable  taxes. The exercise
notice and  payment  should be  delivered  to Ms.  Kalligeros  at the  following
address:

                        New York Community Bancorp, Inc.
                           Human Resources Department
                               615 Merrick Avenue
                            Westbury, New York 11590

         Nothing in this  Agreement or your Option  Agreement  interferes in any
way with your rights and NYCB's rights, which rights are expressly reserved,  to
terminate your  employment at any time for any reason.  Any future  options,  if
any,  you may  receive  from  NYCB  will be  governed  by the  terms of the NYCB
stock-based  incentive  plan,  and such terms may be different from the terms of
your assumed  NYCB  Options,  including,  but not limited to, the time period in
which you have to exercise vested options after your termination of employment.

         Please  sign and date this  Agreement  and  return it  promptly  to the
address listed above. If you have any questions regarding this Agreement or your
assumed _____________ Options, please contact ________________ at (___)___-____.

                                        ----------------------------------------

                                    By: ________________________________________

<PAGE> 4

                                 ACKNOWLEDGMENT

         The  undersigned  acknowledges  receipt of the  foregoing  Stock Option
Assumption  Agreement  and  understands  that all  rights and  liabilities  with
respect to each of his or her Roslyn  Options  hereby assumed by NYCB are as set
forth in the Option Agreement, the 1993 Plan, the 1999 Plan or the 2001 Plan, as
applicable, and such Stock Option Assumption Agreement.

Dated:____________________, 2003           _____________________________________
                                           [NAME], Optioneencb3rdex

THIRD AMENDMENT TO

SECOND AMENDED AND RESTATED

LOAN AGREEMENT

	THIS THIRD AMENDMENT TO SECOND AMENDED AND RESTATED LOAN
AGREEMENT (this "Amendment") is made as of the 15th day of July, 2003, by and
between ASSOCIATED ESTATES REALTY CORPORATION, an Ohio corporation having
an address at 5025 Swetland Court, Cleveland, Ohio  44143 ("Borrower"), and NATIONAL
CITY BANK, a national banking association having an address at 1900 East Ninth Street,
Cleveland, Ohio  44114 (the "Bank").

RECITALS

	A.  Borrower and the Bank are parties to a Second Amended and Restated Loan
Agreement, dated as of April 19, 2002, and amended by a First Amendment to Second
Amended and Restated Loan Agreement dated as of May 14, 2002 and a Second
Amendment to Amended and Restated Loan Agreement dated as of April 27, 2003 (as so
amended, the ("Loan Agreement"), pursuant to which the Bank agreed to extend certain
financial accommodations to Borrower on the terms and subject to the conditions set forth
therein.  The maximum principal amount of all of such financial accommodations which
may be outstanding at any time (the "Maximum Commitment") may not exceed Fourteen
Million Dollars ($14,000,000).

	B.  Borrower has requested that the Bank agree to modify the Loan Agreement in
order to extend the maturity date of the indebtedness advanced thereunder, and to make
certain other changes to the terms of the Loan Agreement more particularly described
below, and the Bank has agreed to do so on the terms set forth below.

	NOW, THEREFORE, for Ten Dollars ($10.00) and other valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, Borrower and the Bank agree
as follows:

		1.  Certain Capitalized Terms.  Capitalized terms which are used but are not
defined in this Amendment shall have the respective meanings ascribed to them in the
Loan Agreement.

		2.  Specific Amendments to the Loan Agreement.  Borrower and the Bank
agree that the Loan Agreement is amended, effective upon and as of the date hereof, in
the following specific respects:

	(a)	The definition of the term "Conventional Sublimit", contained in Section 1 of
the Loan Agreement, is deleted in its entirety, and the following definition is substituted
therefor:

"Conventional Sublimit" means that portion of the Credit Commitment, equal
to Twelve Million Four Hundred Thousand Dollars ($12,400,000), reserved
exclusively for Loans advanced and Letters of Credit issued pursuant to this
Agreement.  The aggregate of all Letter of Credit Usage and the principal
amount of all Loans made hereunder shall not, at any time, exceed the
Conventional Sublimit.

	(b)	The definition of the term "Measured Credit Risk Sublimit", contained in
Section 1 of the Loan Agreement, is deleted in its entirety, and the following definition is
substitute therefor:

	"Measured Credit Risk Sublimit" means a portion of the Credit Commitment,
in the amount of One Million Six Hundred Thousand Dollars ($1,600,000),
which shall, at all times during the pendency of this Agreement, be reserved
exclusively for Measured Credit Risk.

	(c)	The definition of the term "Termination Date", contained in Section 1 of the
Loan Agreement, is amended by deleting therefrom the reference to the date "December
31, 2003" and by replacing that reference with the date "December 31, 2004".

		3.	Conditions to Amendment.  The amendment to the Loan Agreement
contemplated by this Amendment is subject to the satisfaction of all of the following
conditions precedent:

	(a)	Absence of Default.  No Event of Default or event which, with the passage
of time or the giving of notice, or both, might mature into an Event of Default, shall have
occurred and be continuing under the Loan Agreement or any other Loan Document.

	(b)	Warranties.  The representations and warranties of Borrower under the Loan
Agreement and the other Loan Documents shall be true and correct in all material respects
on and as of the date hereof.

	(c)	Other Actions.  The Borrower shall take such other actions and deliver to the
Bank such other documents, certificates and instruments as the Bank may reasonably
request to carry out the intent of this Amendment.

	(d)	Legality of Transactions.  It shall not be unlawful (i) for the Bank to perform
any of its obligations hereunder, or (ii) for the Borrower to perform any of its obligations
hereunder or under any other Loan Document.

	(e)	Proceedings and Documents.  All corporate, governmental and other
proceedings in connection with the transactions contemplated hereby and by the other
Loan Documents, and all documents and instruments incidental thereto, shall be
completed and in full force and effect, and the Bank shall have received such original or
certified copies of such instruments as the Bank may reasonably require.

		4.	Ratification.  Borrower warrants and represents to the Bank that (a)
immediately prior to the date hereof, the Loan Agreement and each other Loan Document
is in full force and effect and has not been modified, amended or supplemented; and (b)
there are no offsets or defenses to any of Borrower's obligations under the Loan
Agreement or the other Loan Documents, and no counterclaims which might affect any
such obligations.  Borrower hereby ratifies and affirms the Loan Agreement (as the same
is amended hereby) and ratifies and affirms each of the Loan Documents.

		5.	Payment of Certain Fees.  Concurrently with its execution and delivery
of this Amendment, Borrower shall pay the following fees to the Bank in consideration of
the Bank's extension of the Termination Date: (a) an extension fee in the amount of
Twenty-Five Thousand Dollars ($25,000), and (b) a measured credit sublimit extension fee
in the amount of Six Thousand Dollars ($6,000).

		6.	Miscellaneous.  

	(a)	Expenses; Indemnity.  The Borrower agrees to pay (in addition to the fees
payable pursuant to the preceding paragraphs) all out-of-pocket expenses of the Bank in
connection with the preparation, execution and delivery of this Amendment or with the
closing of the transactions described herein.

	(b)	Severability.  Any provision of this Amendment or any of the other Loan
Documents which is determined by a court of competent jurisdiction to be invalid or
unenforceable shall be ineffective to the extent of determination without invalidating the
remaining portions hereof or affecting the validity or enforceability of such provision in any
other jurisdiction.

	(c)	Successors.  This instrument shall be binding upon and inure tot he benefit
of Borrower and the Bank and their respective successors and assigns.  Borrower shall not
assign its rights or delegate its duties hereunder without the prior written consent of the
Bank.

	(d)	Counterparts.  This instrument may be executed in any number of
counterparts, and signature pages from any counterpart may be attached to any other.  All
such counterparts shall together constitute a single agreement.  In making proof of this
Amendment, it shall not be necessary to produce or account for more than one counterpart
hereof signed by each of the parties hereto.

	IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their respective officers thereunto duly authorized as of the date first above
written.

					NATIONAL CITY BANK

					By:  /s/ Martin D. Rodriguez	

					

					Printed Name:  Martin D. Rodriguez	

					Title:  Vice President	

					ASSOCIATED ESTATES REALTY CORPORATION

					By:  /s/ Martin A. Fishman	 

					Printed Name:  Martin A. Fishman	

					Title:  Vice President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00057-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00057-of-00352.parquet"}]]