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ASSUMPTION OF ALTERATION AGREEMENT
 

WHEREAS, simultaneously with its execution and delivery of this Assumption of Alteration Agreement the undersigned is becoming the owner of apartment ("Apartment") in , (the "Condominium"); and

WHEREAS, a prior owner of the Unit and the Condominium Board entered into an Alteration Agreement dated (the "Alteration Agreement"), a copy of which is attached hereto,

WHEREAS, the Alteration Agreement (1) provides that any person acquiring the Apartment shall assume the obligations of the Unit Owner under the Agreement and (2) authorizes the Condominium not to consent to the sale of the Apartment to any person unless and until such person assumes the obligations of the Unit Owner under the Agreement

NOW, THEREFORE, in order to induce the Condominium to consent to the sale of the Apartment to the undersigned, the undersigned hereby ASSUMES AND AGREES TO PERFORM AND OBSERVE all the terms, covenants and conditions of the Alteration Agreement to be performed or observed by the Unit Owner thereunder (including the provisions of Section 14 thereof pertain to future transfers).

Henceforth, the term "Unit Owner" as used in the Alterations Agreement shall include the undersigned. Any breach of this Assumption of Alteration Agreement or of the Alteration Agreement shall constitute a breach of the By-Laws. This Assumption of Alteration Agreement shall be binding on the undersigned and [her][his] estate, heirs, executors, administrators, personal representatives, successors and assigns.

 

New York, N.Y.

Date:

State of New York}

}SS.:

County of New York}

 

On this day of , before me, personally Came to me known and known to me to be the individual described in and who executed the foregoing instrument, and duly acknowledged to me that [she][he] executed the same.

Notary Public