Purchase Application
34 PLAZA OWNERS CORPORATION PAGE 1 of 15 COOPERATIVE STOCK PURCHASE APPLICATION This is a writable PDF document. Please type your answers into the form on your computer. After completing this form, print it and sign where indicated. Applicant(s)__________________________________________________________________ Seller_______________________________________________________________________ Apartment No. connected to this application: ________ The undersigned hereby submit(s) this application for consent to purchase the shares of stock appurtenant to the above listed Apartment and to the transfer of said shares and the Proprietary Lease. We/I understand that the proposed purchase cannot be consummated without the consent of the Board of Directors and agree that: 1. Pursuant to authority granted in the Proprietary Lease and By Laws of the Apartment Corporation, the Board of Directors will use this application to obtain background information regarding proposed purchasers of the Corporation's stock. We/I authorize the Board, its agents and representatives, to contact any person identified in this application, including employers, financial institutions, landlords, educational institutions, references, or others, to obtain additional information concerning this application. 2. The Board of Directors may require additional information and will require that the applicant(s) appear for a personal interview. Other persons who will reside in the apartment may also be required to appear at this interview. 3. The information supplied on or pursuant to this application is essential to the Board in order for it to maintain the quality of life in the building and to be sure that the requirements of the proprietary lease and the rules and regulations of the cooperative will be observed. 4. Falsification of any information supplied, or omission of material information may result in denial of consent, or in revocation of prior consent, by the Board of Directors and in termination of the applicant's Proprietary Lease. 5. We/I have read the Proprietary Lease and House Rules, which govern the occupancy of the Apartment and agree to abide by the same. 6. The Apartment is being acquired in "as is" condition (except as the Contract may contain obligations between the Seller and Purchaser concerning repairs, changes or improvements to the Apartment). The Apartment Corporation, its agents and representatives, shall have no liability with respect to any action or omission of the Seller in connection with the contract of sale annexed to this 34 PLAZA OWNERS CORPORATION PAGE 2 of 15 COOPERATIVE STOCK PURCHASE APPLICATION Application. 7. The Apartment Corporation, its agents and representatives has/have no obligation to install any fixtures or equipment in the Apartment, or to make any repairs, or to abate or repair any condition involving lead paint or asbestos, and make(s) no representation with respect to any matter or thing relating to the purchase of the Apartment, including the value of same, nor any representation concerning the financial condition of the Apartment Corporation, nor any representation concerning the physical or legal condition of the Building or the Apartment except as set forth below, as may be expressly required by 24 C. F. R. Part 35 Subpart H, with respect to lead based paint and/or lead based paint hazards. 8. We/I hereby certify that prior to executing the contract of sale, the seller provided us with information with respect to lead based paint and/or lead based paint hazards, which the federal regulations require. We/I are/am satisfied with the condition of the Building and the Apartment and waive any further right or opportunity to conduct any further inspection of the Apartment and the Building for the presence of lead based paint. 9. We agree to be bound by the terms set forth in Part A hereof, which shall survive the closing. If this application is accepted, we/I will NOT, without the prior written consent of the Board of Directors: Pledge or create a security interest in the shares and Proprietary Lease for the Apartment; Make any alterations to the structure of or fixtures in the Apartment; Sell or Sublease the apartment; Permit any person to reside in the Apartment who is not authorized by the Proprietary Lease to so reside; Use the Apartment for other than residential purposes; Violate any provision of the Proprietary Lease, House Rules or By Laws. We/I certify that the information contained in or attached to this Application is true and complete. Applicant: _________________________________ Date: ___________________ (Signature) Co-applicant (if any): ________________________ Date: ___________________ (Signature) 34 PLAZA OWNERS CORPORATION PAGE 3 of 15 COOPERATIVE STOCK PURCHASE APPLICATION INSTRUCTIONS This form should be completed as follows: LEAD PAINT DISCLOSURE ACKNOWLEDGEMENT, is to be filled out by the Seller (Existing Shareholder) Remaining sections are to be filled out by the Purchaser (Applicant) All questions should be completely answered. If a question cannot be answered, an explanation of the omission should be provided. You have the option of attaching a cover letter should you feel any additional explanation would aid your application or help our understanding. In addition to the optional cover letter (previously mentioned), the required supporting documents are as follows: 1. Signed and completed 34 Plaza application form 2. Contract of Sale 3. Appraisal report 4. Employment verification letter stating present income (applicant and co-applicant if any) 5. Two personal letters of reference (each for applicant and co-applicant if any) 6. Two business or professional letter of reference (each for applicant and co-applicant if any) 7. Litigation status letter (applicant and co-applicant if any) 8. Loan commitment or recognition agreement 9. Tax returns, 2 years prior to application – include Federal returns only (not State), all schedules and attachments. If self employed, Federal tax return for business, (2 years) 10. Supporting documentation for all assets and income reported in the application. Assets and income without supporting documentation will not be taken into consideration. Documentation must be the most current reasonably obtainable. 11. A check in the amount of $250, payable to Marin Management Corporation. 34 PLAZA OWNERS CORPORATION PAGE 4 of 15 COOPERATIVE STOCK PURCHASE APPLICATION Any of the above documents without appropriate signatures will not be taken into consideration. Seven paper copies of the completed application, together with all supporting documents, should be delivered to: Mr. Gary Glabman Managing Agent Marin Management Corporation 157 East 25th Street New York, NY 10010 TERMS The proposed purchase cannot be consummated without the consent of the Board of Directors of the apartment Corporation, pursuant to the terms of the proprietary lease. This application will not be processed unless seller and Purchaser have complied with the requirements of Chapter 63A of Title 42, U.S.C., as implemented by 24 C.F.R. Part 35, Subpart H, dealing with disclosure of known lead based paint and/or lead based paint hazards upon sale or lease of residential property. In no event will the Apartment Corporation, the Board of Directors, or any of their agents or representatives be responsible for any liability or expense of any nature incurred by any Seller or Purchaser by reason of any delay in processing this application or by reason of the failure or refusal of the Board of Directors to grant approval. This application must be accompanied by a non refundable processing fee in the sum of $250 payable to Marin Management Corporation. If the application is approved, further sums will be payable at the closing to cover the expenses of the Apartment Corporation, including any potential legal fees arising out of the processing and closing of this application. All maintenance, arrearages, and other charges must be paid in full at or before the closing. 34 PLAZA OWNERS CORPORATION PAGE 5 of 15 COOPERATIVE STOCK PURCHASE APPLICATION LEAD PAINT DISCLOSURE ACKNOWLEDGEMENT Apartment No.: ___________________________ Date: ___________________________________ To: THE BOARD OF DIRECTORS OF 34 Plaza Owners Corporation The undersigned hereby request(s) the approval of the sale of the Apartment, and the assignment of the shares and proprietary lease appurtenant thereto, to the Applicant submitting Part C of this Application. We/l agree to the Terms set forth in Part A hereof, which shall survive the closing. We/I hereby certify that we/I have complied with the disclosure requirements of the Code of Federal Regulations concerning lead based paint and/or lead based paint hazards, and have supplied all required documents and information to the Purchaser. The lead based paint information supplied to Purchaser included, but was not limited to, information we/I obtained from the Apartment Corporation regarding the presence of lead based paint in the Apartment and in the common areas of the Building. We/l agree to indemnify the Apartment Corporation, its agents and representatives, against any liability arising out of our failure to make such required disclosure. We/l hereby understand and consent that the Apartment Corporation will not complete the processing of this application until Purchaser has submitted a certification that Purchaser has received all required disclosure materials from the Seller and the Apartment Corporation, and does not require any further testing or inspection. Shareholder: ___________________________________________________________ Social Security # _________________________________________________________ Co-shareholder: ___________________________________________________________ Social Security # _________________________________________________________ Forwarding Address: ______________________________________________________ 34 PLAZA OWNERS CORPORATION PAGE 6 of 15 COOPERATIVE STOCK PURCHASE APPLICATION GENERAL INFORMATION Apartment #: _________ Number of shares: _________ Seller: Name ______________________________________________________________________________ Current Address_____________________________________________________________________ Email______________________________________________________________________________ Phone______________________________________________________________________________ Lender (financial institution): Name______________________________________________________________________________ Current Address_____________________________________________________________________ Email______________________________________________________________________________ Phone______________________________________________________________________________ Real estate broker: Name______________________________________________________________________________ Current Address_____________________________________________________________________ Email______________________________________________________________________________ Phone______________________________________________________________________________ Applicant's attorney: Name______________________________________________________________________________ Current Address_____________________________________________________________________ Email______________________________________________________________________________ Phone______________________________________________________________________________ Seller's attorney: Name______________________________________________________________________________ Current Address_____________________________________________________________________ Email______________________________________________________________________________ Phone______________________________________________________________________________ 34 PLAZA OWNERS CORPORATION PAGE 7 of 15 COOPERATIVE STOCK PURCHASE APPLICATION Name(s) in which cooperative stock will be held: ______________________________________________________________________________ Names and Relationship of proposed occupants and ages of children, if any: ______________________________________________________________________________ Personal References Two personal letters of reference (each for applicant and co-applicant if any). Include name, address, and telephone numbers. You may include the same reference as in the required letter of reference. 1. ______________________________________________________________________________ 2. ______________________________________________________________________________ Co-applicant 1. ______________________________________________________________________________ 2. ______________________________________________________________________________ Business or Professional References Include two each for applicant and co-applicant if any. Include name, address, and telephone numbers. You may include the same reference as in the required letter of reference. 1. ______________________________________________________________________________ 2. ______________________________________________________________________________ Co-applicant 1. ______________________________________________________________________________ 2. ______________________________________________________________________________ Pets Number, type of animal(s), approximate weight(s) and any other relevant information. Note that all tenants must abide by the Pet Policy. All pets must be approved by building management and Board. _______________________________________________________________________________ 34 PLAZA OWNERS CORPORATION PAGE 8 of 15 COOPERATIVE STOCK PURCHASE APPLICATION Applicant Co Applicant Name: Current Address: Date of Residence: From To: From To: From To: From To: From To: From To: From To: From To: Home Telephone Number: Email Address: Social Security Number: Country of citizenship: Prior address (if less than 3 years) Date of Residence: Employer: Employer Address: Business Phone: Nature of Business: Title or occupation: (brief description) Period of Employment: Prior employer: (if less than 3 years at current employer) Title or occupation Period of Employment: Education: ( school, field of study, degree) 34 PLAZA OWNERS CORPORATION PAGE 9 of 15 COOPERATIVE STOCK PURCHASE APPLICATION Please answer “Yes” or “No” to the following: You may attach a cover letter should you feel any additional explanation would aid your application or help our understanding Applicant Have you any outstanding judgments? Have you been declared bankrupt In the last 7 years? Have you had property foreclosed upon or given title or deed in lieu thereof? Are you a party in a lawsuit? Are you obligated to pay alimony, child support or separate maintenance? Other than a mortgage, are you using other gifts or loans to help finance this purchase? Do you or any member of your family have diplomatic status? Have you previously lived in a doorman building? Do you plan to conduct business in the apartment? Names of organizations to which Applicant belongs (optional). Names of all persons who will reside in the Apartment Names of anyone in the building known to Applicant (or coapplicant) Co-applicant 34 PLAZA OWNERS CORPORATION PAGE 10 of 15 COOPERATIVE STOCK PURCHASE APPLICATION FINANCIAL SUMMARY Purchase Percent and amount financed ____% $_________ Cash payment (deposit paid plus remainder) $_________ Total purchase price (should equal the sum of the above) $_________ Type of mortgage (e.g., fixed rate, adjustable rate) ______________________ Interest rate: ________% Term (# years) ______ Housing Costs Current Proposed Monthly mortgage payment (Include rent if applicable) $____________ $____________ Monthly maintenance payment (Include assessments if any) $____________ $____________ Total monthly housing payment (Sum of the above) 0 $____________ 0 $____________ Income (Estimate and annualize. Should match page 13 of this application) Total wages $____________ Total bonus/commissions 0 $____________ Investment income 0 $____________ Other income $____________ Total Income 0 $____________ Assets Total current liquid assets $____________ after closing costs are paid (e.g., cash, investments, retirement accounts) Sum of applicant and co-applicant (if applicable) 34 PLAZA OWNERS CORPORATION PAGE 11 of 15 COOPERATIVE STOCK PURCHASE APPLICATION Balance Sheet Use the most current information available. ASSETS Applicant Co-Aplic Total Cash and institutional accounts (e.g., checking, savings, money market, mutual funds, stocks, bonds) (Note 1) 0 Contract Deposit 0 Real estate net market value (Describe in Note 2) 0 Retirement accounts (e.g., 401K, 403B) (Describe Note 1) 0 Maximum loan allowable (percent) from retirement account. If proof is not provided, 50% will be used. 0 Net worth of business owned 0 0 Other assets (Describe in Note 3) TOTAL ASSETS (sum of the above) 0 0 $ 0 $ 0 $ 0 LIABILITIES (Describe in Note 4) 0 Unpaid closing costs, est. (incl remaining down payment) Other mortgage loans 0 Automobile loans 0 Outstanding credit card debt 0 All other unsecured loans and installment debt payable 0 Personal loans / debt (e.g., family, friends) 0 Other liabilities (e.g., unpaid taxes, other secured loans) 0 TOTAL LIABILITIES $ 0 $ 0 $ CONTINGENT LIABILITIES (Yes or No) As endorser or co-maker on notes m m Alimony and/ or child support (annual) n n Other contingent liabilities n n 0 34 PLAZA OWNERS CORPORATION PAGE 12 of 15 COOPERATIVE STOCK PURCHASE APPLICATION Notes to Balance Sheet Provide the following in reference to the BALANCE SHEET information previously provided for BOTH applicant and co-applicant (if any). Attach documentation. Note 1, List all institutional accounts. If necessary, use section 3 or sec. 2 below or attach separate sheet. Institution name Account # %DODQce Note 2, List all real estate Address of Property Type or Property 3resent Market Value Note 3, List other assets: _______________________________________________________________________________________ _______________________________________________________________________________________ _______________________________________________________________________________________ Note 4 List all current creditors (e.g., credit cards, loans, mortgages). Creditor Account # (if applicable) Balance 34 PLAZA OWNERS CORPORATION PAGE 13 of 15 COOPERATIVE STOCK PURCHASE APPLICATION Income and Expenses, CURRENT YEAR (estimate and annualize) INCOME Applicant Co-Applicant Total Base Salary 0 Overtime wages 0 Bonus & commissions 0 Dividends / interest / capital gains 0 Rent 0 Palimony/Alimony/Child Support 0 Real estate income (net) 0 Other 0 Other TOTAL INCOME $ 0 0 0 0 0 0 EXPENSES Maintenance plus mortgage (primary residence) 0 Rent (primary residence) 0 Other mortgages 0 Auto loans 0 Palimony / Alimony / Child support payments 0 Credit card / revolving payment (estimate) 0 Personal loan payments 0 Other 0 TOTAL EXPENSES $ 0 $ 0 $ 0 34 PLAZA OWNERS CORPORATION PAGE 14 of 15 COOPERATIVE STOCK PURCHASE APPLICATION Income and Expenses, LAST YEAR INCOME $pplicant Co-Applicant Total Base Salary 0 Overtime wages 0 Bonus & commissions 0 Dividends / interest / capital gains 0 Rent 0 Palimony / Alimony / Child Support 0 Real estate income (net) 0 Other 0 Other 0 TOTAL INCOME 0 0 0 EXPENSES Maintenance plus mortgage (primary residence) 0 Rent (primary residence) 0 Other mortgages 0 Auto loans 0 Palimony / Alimony / Child support payments 0 Credit card / revolving payment (estimate) 0 Personal loan payments 0 Other 0 TOTAL EXPENSES $ 0 $ 0 $ 0 34 PLAZA OWNERS CORPORATION PAGE 15 of 15 COOPERATIVE STOCK PURCHASE APPLICATION FORM E Authorization for Credit Investigation Please print this form, then write-in the required information. Us a separate form for each applicant. Subscriber Name ___________________________ # ___________ (THIS BOX FOR OFFICE USE ONLY) Landlord Guard, Inc. Inquiry Date: _____________ Response Code: ____________ Tenant Inquiry Date: _________________________ Response Date: ____________ For Occupancy at ______________________________________________Apt#: ______________________ Maintenance $ ________________________ Rent: ______ Move in Date: Name __________________________________________________________________________________ Birthdate: Driver’s License #:_____________________________________________State:______________________ Social Security #:_________________________________________________________________________ Current Home Address: __________________________________________Apt#: ____________________ I have read and completed the above form. This application is subject to approval by the owners and/or their agents, and may without designating cause be disapproved by them, being agreed that any such disapproval shall not be considered a reflection of the applicant. This agreement is to be made part of the lease entered into by the applicant and owner of its agent. The truth of the information made herin is essential and if the owner or its agent deems any answer or statement herein to be false, or misleading, it shall be considered that any lease granted by virtue of this application may be cancelled at their option. I understand that if I do not live up to the terms of my lease or I cause a financial loss to my landlord, that my name may be placed in the negative data files of LANDLORD GUARD, INC. and can be furnished to subscribers who have a bona fide and legal need to make an inquiry. I also understand that causing a financial loss may severely limit my ability to use personal checks or lease other properties. I, the Applicant, give full authorization for an investigative report whereby third parties may be contacted to report on my character, general reputation, personal characteristics, and mode of living, including salary-income, consumer credit, court and criminal history, and banking financial practices. I have the right to make a written request for disclosure of the nature, result and scope of this investigation. I may not, however, receiver or view my consumer credit file. I agree to hold Landlord Guard, Inc. harmless for any claims that may arise as a result of this investigation. I further authorize Banks, Financial Institutions, Landlords, Civil and Criminal Courts, Motor Vehicle Bureaus, Business Associates, Credit Bureaus, Attorneys, Accountants, and other persons of institutions with whom I am acquainted to furnish any and all information regarding me. This authorization also applies to any update reports which may be ordered as needed. I am willing that a photocopy of fax of this authorization be accepted with the same authority as this original. Applicant’s Signature: ____________________________________________Date:_____________________
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