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Hey guys, normally I get it, you have to sign a unit power of attorney to the condo or co-op board. But in a mixed use building, you also might have to sign a unit power of attorney to the commercial unit owner? How unfair is that? See below:
UNIT POWER OF ATTORNEY
Terms used in this Unit Power of Attorney which are used (a) in the amended and restated declaration submitted by New York Developer LLC (''Declarant") establishing a plan for condominium ownership of the premises known as the 212 Fifth Avenue Condominium and by the street number 212 Fifth Avenue, New York, New York under Article 9-B of the Real Property Law of the State of New York, dated ( ], and recorded in the New York County Office of the Register of The City of New York on [ ], as CRFN [ ] (which Declaration and amendments are hereinafter collectively referred to as the "Declaration") or (b) in the By-Laws of the 42 Ann Street Condominium (the "By-Laws'') attached to, and recorded together with, the Declaration, shall have the same meanings in this Power of Attorney as in the Declaration or the By-Laws.
The undersigned, [ ], the owner of Unit [ ] (the "Unit'') in the 212 Fifth Avenue Condominium which is (are) designated and described as Unit No. [ ] in the Declaration and also designated as Tax Lot [ ], in Block ( ) of the Borough of Manhattan on the Tax Map of the Real Property Assessment Department of The City of New York and on the Floor Plans, do(es) hereby nominate constitute and appoint the persons who may from time to time constitute the Condominium Board, true and lawful attorney-in-fact for the undersigned, coupled with an interest, with power of substitution, in their own names, as members of the Board or in the name of their designee (corporate or otherwise), on behalf of all Unit Owners, in accordance with such Unit Owners' respective interests in the Common Elements, subject to the provisions of the By-Laws then in effect, (a) to acquire title to, or lease, any Unit and its Appurtenant Interests (as hereinafter defined) whose owner desires to sell, convey, transfer, assign, lease or surrender the same, or which becomes the subject of a foreclosure or other similar sale, in the name of the Board or its designee, corporate or otherwise, on behalf of all Unit Owners, any after such acquisition or leasing, to convey, sell, lease, mortgage, or otherwise deal with (but not to vote the interest appurtenant to) any such Unit as acquired, or to sublease any Unit so leased, without the necessity of further authorization by the Unit Owners, on such terms as the attorneys-in-fact may determine, (b) to commence, pursue, appeal, settle and/or terminate administrative and certiorari proceedings to obtain reduced real estate tax assessments with respect to Residential Units, including retaining counsel and taking any other actions which the Board deems appropriate or necessary; and (c) to execute, acknowledge and deliver any declaration, application, statement, permit, consent, license, approval, certificate, ruling, amendment, and other similar documents from or involving the Department of Buildings, the City Planning Commission the Board of Standards and Appeals, or any other public authority as regards the Board, affecting the General Common Elements which the Board deems necessary or appropriate for the maintenance, demolition, construction, alteration, repair or restoration of the General Common Elements.
Each Unit Owner shall grant to the Commercial Unit Owner a power of attorney to execute all documents necessary in order to amend this Declaration and to effectuate the rights granted to Commercial Unit Owner under the Declaration and the By-Laws and the Offering Plan and to consent on behalf of each Unit Owner, as a party in interest, to any declaration or other agreement effecting a merger or division of the zoning lot in which the Property is located, with any other tax lots to form a single zoning lot for the purpose of transferring to or from the Commercial Unit Owner, or its successors, designee(s), or assigns, all or any portion of the Floor Area Development Rights, all of which are retained by the Commercial Unit Owner to the extent otherwise unused as of the date hereof.
The acts of a majority of such persons constituting the Board shall constitute the acts of said attorneys-in-fact.
The undersigned, do(es) hereby nominate, constitute and appoint the Declarant, true and lawful attorney-in-fact for the undersigned, coupled with an interest, with power of substitution, on behalf of all Unit Owners, in accordance with such Unit Owners respective interests in the Common Elements, subject to the provisions of the By-Laws then in effect, to execute an amendment to the Declaration, By-Laws and the Rules and Regulations of the Condominium or any permits, applications or documents required to undertake, perform or complete work to the Unsold Units or Common Elements by Declarant or obtain an amended certificate of occupancy therefor, or any of said documents when such amendment (i) shall be required to reflect any changes in Unsold Residential Units, Commercial Unit and/or the reapportionment of the Common Interests of the aforesaid Units resulting therefrom made by Declarant in accordance with the Declaration or (ii) shall be required by an (x) Institutional Lender designated by Declarant to make a mortgage loan secured by a mortgage on any Unit, (y) any governmental agency having regulatory jurisdiction over the Condominium, or (z) any title insurance company selected by Declarant to insure title to any Unit, provided, however, that any amendment made pursuant to the terms of this paragraph shall not (i) change the Common Interest of the Undersigned's Unit, (ii) require a material or physical modification to the undersigned's Unit, or (iii) adversely affect the priority or validity of the lien of any purchase money mortgage held by an Institutional Lender covering the undersigned's Unit unless the undersigned (in the event described in subdivision (i) or (ii) of this paragraph) or the holder of such mortgage (in the event described in subdivision (iii) of this paragraph) shall consent thereto by joining in the execution of such amendment. This Power of Attorney shall be irrevocable.
IN WITNESS WHEREOF, the undersigned has executed this Power of Attorney as of the [ ] day of [ ].
STATE OF NEW YORK
COUNTY OF NEW YORK
On the [ ] day of [ ], in the year [ ], before me, the undersigned, a Notary Public in and for said State, personally appeared, personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is(are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their signature(s) on the instrument, the individual(s), or the person upon behalf of which the individual(s) acted, executed the instrument
Notary Public
UNIT POWER OF ATTORNEY
Terms used in this Unit Power of Attorney which are used (a) in the amended and restated declaration submitted by New York Developer LLC (''Declarant") establishing a plan for condominium ownership of the premises known as the 212 Fifth Avenue Condominium and by the street number 212 Fifth Avenue, New York, New York under Article 9-B of the Real Property Law of the State of New York, dated ( ], and recorded in the New York County Office of the Register of The City of New York on [ ], as CRFN [ ] (which Declaration and amendments are hereinafter collectively referred to as the "Declaration") or (b) in the By-Laws of the 42 Ann Street Condominium (the "By-Laws'') attached to, and recorded together with, the Declaration, shall have the same meanings in this Power of Attorney as in the Declaration or the By-Laws.
The undersigned, [ ], the owner of Unit [ ] (the "Unit'') in the 212 Fifth Avenue Condominium which is (are) designated and described as Unit No. [ ] in the Declaration and also designated as Tax Lot [ ], in Block ( ) of the Borough of Manhattan on the Tax Map of the Real Property Assessment Department of The City of New York and on the Floor Plans, do(es) hereby nominate constitute and appoint the persons who may from time to time constitute the Condominium Board, true and lawful attorney-in-fact for the undersigned, coupled with an interest, with power of substitution, in their own names, as members of the Board or in the name of their designee (corporate or otherwise), on behalf of all Unit Owners, in accordance with such Unit Owners' respective interests in the Common Elements, subject to the provisions of the By-Laws then in effect, (a) to acquire title to, or lease, any Unit and its Appurtenant Interests (as hereinafter defined) whose owner desires to sell, convey, transfer, assign, lease or surrender the same, or which becomes the subject of a foreclosure or other similar sale, in the name of the Board or its designee, corporate or otherwise, on behalf of all Unit Owners, any after such acquisition or leasing, to convey, sell, lease, mortgage, or otherwise deal with (but not to vote the interest appurtenant to) any such Unit as acquired, or to sublease any Unit so leased, without the necessity of further authorization by the Unit Owners, on such terms as the attorneys-in-fact may determine, (b) to commence, pursue, appeal, settle and/or terminate administrative and certiorari proceedings to obtain reduced real estate tax assessments with respect to Residential Units, including retaining counsel and taking any other actions which the Board deems appropriate or necessary; and (c) to execute, acknowledge and deliver any declaration, application, statement, permit, consent, license, approval, certificate, ruling, amendment, and other similar documents from or involving the Department of Buildings, the City Planning Commission the Board of Standards and Appeals, or any other public authority as regards the Board, affecting the General Common Elements which the Board deems necessary or appropriate for the maintenance, demolition, construction, alteration, repair or restoration of the General Common Elements.
Each Unit Owner shall grant to the Commercial Unit Owner a power of attorney to execute all documents necessary in order to amend this Declaration and to effectuate the rights granted to Commercial Unit Owner under the Declaration and the By-Laws and the Offering Plan and to consent on behalf of each Unit Owner, as a party in interest, to any declaration or other agreement effecting a merger or division of the zoning lot in which the Property is located, with any other tax lots to form a single zoning lot for the purpose of transferring to or from the Commercial Unit Owner, or its successors, designee(s), or assigns, all or any portion of the Floor Area Development Rights, all of which are retained by the Commercial Unit Owner to the extent otherwise unused as of the date hereof.
The acts of a majority of such persons constituting the Board shall constitute the acts of said attorneys-in-fact.
The undersigned, do(es) hereby nominate, constitute and appoint the Declarant, true and lawful attorney-in-fact for the undersigned, coupled with an interest, with power of substitution, on behalf of all Unit Owners, in accordance with such Unit Owners respective interests in the Common Elements, subject to the provisions of the By-Laws then in effect, to execute an amendment to the Declaration, By-Laws and the Rules and Regulations of the Condominium or any permits, applications or documents required to undertake, perform or complete work to the Unsold Units or Common Elements by Declarant or obtain an amended certificate of occupancy therefor, or any of said documents when such amendment (i) shall be required to reflect any changes in Unsold Residential Units, Commercial Unit and/or the reapportionment of the Common Interests of the aforesaid Units resulting therefrom made by Declarant in accordance with the Declaration or (ii) shall be required by an (x) Institutional Lender designated by Declarant to make a mortgage loan secured by a mortgage on any Unit, (y) any governmental agency having regulatory jurisdiction over the Condominium, or (z) any title insurance company selected by Declarant to insure title to any Unit, provided, however, that any amendment made pursuant to the terms of this paragraph shall not (i) change the Common Interest of the Undersigned's Unit, (ii) require a material or physical modification to the undersigned's Unit, or (iii) adversely affect the priority or validity of the lien of any purchase money mortgage held by an Institutional Lender covering the undersigned's Unit unless the undersigned (in the event described in subdivision (i) or (ii) of this paragraph) or the holder of such mortgage (in the event described in subdivision (iii) of this paragraph) shall consent thereto by joining in the execution of such amendment. This Power of Attorney shall be irrevocable.
IN WITNESS WHEREOF, the undersigned has executed this Power of Attorney as of the [ ] day of [ ].
STATE OF NEW YORK
COUNTY OF NEW YORK
On the [ ] day of [ ], in the year [ ], before me, the undersigned, a Notary Public in and for said State, personally appeared, personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is(are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their signature(s) on the instrument, the individual(s), or the person upon behalf of which the individual(s) acted, executed the instrument
Notary Public