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the Landlord's interest in said demised premises to secure the payment to the Tenant of the agreed or appraised value of the buildings and improvements. Upon payment of the agreed or appraised value of said buildings and improvements, the Tenant at the expiration of the present term, to-wit: on the.... shall yield up said premises in good condition and repair, together with all the buildings and improvements standing thereon; the obligation of the Landlord to tender said cash value of said buildings and of the Tenant to surrender possession at said time shall be concurrent and be performed simultaneously.

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In case the Landlord shall elect not to buy said buildings, the Tenant is hereby given the option to extend the term of this Indenture for another period of years upon a rental at the rate of ..per centum of the agreed or appraised value of the said land, exclusive of the said buildings, payable in instalments in advance as provided herein, and also upon all of the same agreements, stipulations, conditions and provisions as are contained in this Indenture, including the payment of taxes and assessments for the entire year ...

Failure of the Landlord to notify the Tenant of a decision within said... ..days either to purchase said buildings or to extend the term of this Indenture as herein provided, shall be construed to mean an election by the Landlord to extend the term of this Indenture for another term of. years. In case the Tenant then desires to accept an extension of the term of this Indenture, it shall, within.. days after the Landlord's decision not to purchase said buildings as aforesaid, give written notice to the Landlord of its decision so to renew said term, and further agrees and covenants to execute with the Landlord a suitable instrument providing for such extension within... days thereafter. In

case the Tenant shall not extend the term of this Indenture by giving such notice and by executing the extension agreement as aforesaid, then upon the expiration of the term of this Indenture all the buildings and improvements on said demised land shall revert to the Landlord free from any obligation on their part to pay any money for them.

If from any cause the appraisals of the said buildings and land shall not have been made.... days prior to.... if there has been no written agreement of the actual cash value of said buildings and land, then the Tenant shall continue to pay rent to the Landlord on and after... ..at the rate of..... per annum, and all the other provisions of this Indenture shall remain in full force and effect until the Landlord and the Tenant shall have exercised or failed to exercise their options within the time and in the manner herein provided. If the term of this Indenture shall be extended for a further term of years as herein provided, and the annual rent to be paid by the Tenant for such extended term shall be in excess of.... Dollars, then the Tenant shall upon demand by the Landlord pay to the Landlord in cash the difference between.. Dollars and the annual rent to be paid for such extended term as herein provided. If said annual rental for such extended term shall be less then... . Dollars the Tenant may deduct such difference from the instalment of rent next maturing.

At the end of said second term of years, similar written agreements or appraisals shall be made and the Landlord shall again elect either to purchase all the buildings then standing upon said demised premises and erected thereon by the Tenant under the provisions of this Indenture at their then agreed or appraised value, or to extend the term for another period of... years and so on until at the years said Landlord shall

end of some term of..

have elected to purchase said buildings then standing on said demised land and erected thereon by the Tenant under the provisions of this Indenture at their agreed or appraised values, or the Tenant shall have elected not to extend such term by failing to give the notice and execute the extension agreement as aforesaid.

The Tenant agrees and covenants that at and upon the date of the expiration of the term of this Indenture, to-wit:..

or if said term shall be extended, then upon the expiration of such extension, it will surrender and deliver up the above described premises and all the buildings

and fixtures of every sort, kind or nature whatsoever, in, or about said premises and under the sidewalks and streets around the same, peaceably to the Landlord, or their successors, attorneys and assigns.

If the Tenant, its agent or attorney, or the tenants on said demised premises holding under them, or any of them, or other persons, shall hold said premises, or any part thereof, after the same should have been surrendered according to the terms of this Indenture, the Tenant and such tenant or tenants and persons, as aforesaid, shall be deemed guilty of an unlawful detainer of said premises under the statute and shall be subject to fine and removal, with or without legal proceedings, and the Landlord may, without notice again recover the possession of the demised premises, and the Tenant, or other persons occupying said premises, or any part thereof, expel, remove and put, using such force as may be necessary in so doing, and the said premises repossess in the Landlord's former estate, anything herein contained to the contrary notwithstanding.

33. Parties. The Landlord and the Tenant further agree and covenant that each of the expressions, phrases, terms, conditions, provisions, stipulations, admissions, agreements, requirements and obligations of this Indenture shall extend to and bind or inure to the benefit of (as the case may require) not only the parties hereto but to each and every of the heirs, executors, administrators, representatives, successors and assigns, of the Landlord and Tenant; further, that, whenever in this Indenture, reference to either the Landlord or the Tenant hereto is made, such reference shall be deemed and construed to include, whenever applicable, also a reference to the heirs, executors, administrators, successors and assigns, of such party, the same as if in every case expressed, and all of the stipulations, admissions, agreements, conditions and covenants contained in this Indenture, shall be construed as covenants running with the land.

Lease of Co-operative Apartment

AGREEMENT, made..

between.

hereinafter called the "Landlord," and..

of

hereinafter called the "Tenant," WITNESSETH:

WHEREAS, certain of the stockholders of the Landlord have heretofore caused the said Landlord to be incorporated for the purpose of buying, maintaining and operating an apartment house in the City of New York, with the intent that each of the permanent stockholders should have the right to lease and occupy an apartment in said building so long as he should be a stockholder of said company under the terms and provisions hereinafter set forth; and

WHEREAS, the Landlord has purchased the apartment building known as.. in the Borough of...

City, County and State of New York,

WHEREAS, the Landlord has purchased said premises subject to a certain first mortgage of..... with interest at

per cent payable semi-annually (and to be amortized as required in any renewal or extension thereof), and subject also to a second mortgage of.. with interest at... per cent payable semi-annually, and to be amortized at the rate of..... per annum, payable semi-annually on the

...and.

; and

days of. WHEREAS, under the plan adopted by said Landlord certain of the stockholders of said Landlord have chosen and have been allotted by the Landlord certain apartments in said building, to be held under the general terms of this lease; and

WHEREAS, the Tenant is the owner of.... ....shares of the capital stock of said Landlord, and by allotment of the premises herein described and by acceptance by the Board of Directors of said Landlord is privileged to lease the apartment herein described;

NOW, THEREFORE, in consideration of the premises and the covenants and conditions herein contained,

1. The Landlord has let and by these presents does grant, demise and let unto the Tenant and the said Tenant has agreed to hire and take, and does hereby hire and take as Tenant the following space in the apartment building of the Landlord above described, and known as. in said Borough of

.and City of New York, viz.: apartment.... for the term of........beginning. ...and expiring

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with the privilege to the Landlord or Tenant to

renew said lease for the further term of....

, years, upon such provisions, conditions and covenants as the board of directors may determine, except that the obligation of the Tenant shall not be greater than to pay such a proposition of the net disbursements of the corporation as the percentage of capital stock of said corporation held by him bears to the total capital stock of the said corporation, to be used and occupied by the Tenant as a private apartment and not otherwise, except as the Landlord may in writing otherwise permit, and subject to such rules and regulations concerning the management, regulations and control of said building as the board of directors of the Landlord may from time to time prescribe, for a rent which shall be that proportion of the running expenses of the corporation, including amortization of the encumbrances thereon, and that proportion of such additional sums as the directors may deem advisable to build up and maintain as surplus, reserve and depreciation funds which the par value of the capital stock of the lessor corporation owned by the Tenant bears to the total authorized capital stock of the Landord, to be paid as follows:

.in advance in equal

By the annual payment of $..... monthly installments of $.. on the first day of each and every month of the term herein granted and by the payment of such additional sums as additional rent whenever called by the board of directors, which additional sums shall be paid within..... days after demand thereof has been made in writing by the Landlord; and the Tenant hereby covenants and agrees to pay as rent for the said premises $........on the first day of each and every month from the beginning of the term and such additional sums as additional rent whenever called by the board of directors, which additional sums shall be paid within.... days after demand thereof has been made in writing by the Landlord (and wherever in this lease the term rent is hereafter used, it includes such additional sums). In case of the failure by the Tenant to pay the rent above reserved or any part thereof it shall be lawful for the Landlord to recover the possession of the said leased premises, and the same to have again, repossess and enjoy.

2. If the Tenant shall default in the payment of the rent

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