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  • Ssa Ne Assets, Llc v. R&C Asset Management Corp., Paul Gross, New York City Department Of Finance, New York State Department Of Taxation And Finance, John Doe And Jane DoeReal Property - Mortgage Foreclosure - Commercial document preview
  • Ssa Ne Assets, Llc v. R&C Asset Management Corp., Paul Gross, New York City Department Of Finance, New York State Department Of Taxation And Finance, John Doe And Jane DoeReal Property - Mortgage Foreclosure - Commercial document preview
  • Ssa Ne Assets, Llc v. R&C Asset Management Corp., Paul Gross, New York City Department Of Finance, New York State Department Of Taxation And Finance, John Doe And Jane DoeReal Property - Mortgage Foreclosure - Commercial document preview
  • Ssa Ne Assets, Llc v. R&C Asset Management Corp., Paul Gross, New York City Department Of Finance, New York State Department Of Taxation And Finance, John Doe And Jane DoeReal Property - Mortgage Foreclosure - Commercial document preview
  • Ssa Ne Assets, Llc v. R&C Asset Management Corp., Paul Gross, New York City Department Of Finance, New York State Department Of Taxation And Finance, John Doe And Jane DoeReal Property - Mortgage Foreclosure - Commercial document preview
  • Ssa Ne Assets, Llc v. R&C Asset Management Corp., Paul Gross, New York City Department Of Finance, New York State Department Of Taxation And Finance, John Doe And Jane DoeReal Property - Mortgage Foreclosure - Commercial document preview
  • Ssa Ne Assets, Llc v. R&C Asset Management Corp., Paul Gross, New York City Department Of Finance, New York State Department Of Taxation And Finance, John Doe And Jane DoeReal Property - Mortgage Foreclosure - Commercial document preview
  • Ssa Ne Assets, Llc v. R&C Asset Management Corp., Paul Gross, New York City Department Of Finance, New York State Department Of Taxation And Finance, John Doe And Jane DoeReal Property - Mortgage Foreclosure - Commercial document preview
						
                                

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FILED: QUEENS COUNTY CLERK 06/23/2022 04:26 PM INDEX NO. 715005/2021 NYSCEF DOC. NO. 34 RECEIVED NYSCEF: 06/23/2022 Exhibit A FILED: QUEENS COUNTY CLERK 06/23/2022 04:26 PM INDEX NO. 715005/2021 NYSCEF DOC. NO. 34 RECEIVED NYSCEF: 06/23/2022 PROMISSORY NOTE $300,000.00 Great Neck, New York September 27th, 2019 FOR VALUE RECElVED, R&C Asset Management Corp., a New York Corporation, having an address at 234 Jericho Turnpike, Unit B, Mineola, NY 11501 (the "Borrower") promises to pay to the order of . Flatiron Realty Capital LLC, and its successors and/or assigns (the "Lender"), having an address at 60 Madison Avenue, Suite 1001, New York, NY 10010, or at such other place as may be designated from time to time in writing by Lender, the principal sum of THREE HUNDRED THOUSAND and NO/100 DOLLARS (US $300,000.00 ) (the "Loan"), together with interest at the rate hereinafter provided on the principal amount of the Loan then outstanding, from the date of this Promissory Note (the "Note") until such amount is paid in full, all as set forth below. Such principal sum, and all accrued and unpaid interest and other charges thereon, shall be due and payable in full on September 27th, 2020 (the "Original Maturity Date") or immediately upon the occurrence of an Event of Default, whichever is sooner. A. INTEREST. 1. The Loan shall bear interest on the outstanding principåI amount hereof at a rate equal to ELEVEN (11%) percent per annum (the "Interest Rate") during the period from the date of this Note through the Maturity Date. 2. From and after the acceleration of the Loan following the occurrence of an Event of Default, or if the Loan shall not be paid in full on the Maturity Date, the Loan and all amounts outstanding hereunder (including any unpaid interest) shall bear interest at the Default Rate, until such time as all amounts due hereunder shall be paid in full. 3. Nothing contained herein shall require Borrower to pay interest at a rate exceeding the maximum permissible rate under applicable law. If interest payable by Borrower on any date would exceed the maximum permissible rate, such interest payment shall automatically be reduced to such maximum permitted amount. 4. Interest shall be computed on the basis of a year of 360 days with months of 30 days. B. PAYMENTS. 1. Borrower shall make consecutive monthly payments of interest only, in full, in arrears on the first (1st) day of each calendar month, commencing on May 1, 2020, and on the first (1st) day of each calendar month thereafter, until the Maturity Date. Any payment of interest not made when due, together with interest thereon, shall be added to the outstanding principal balance of the Loan. interest to and including SEPTEMBER 30*, 2019 shall be paid in full to Lender on the date hereof. 2. The entire unpaid principal balance of this Note, together with all accrued and unpaid interest and other charges due under this Note, shall be due and payable in full on the Maturity Date. 3. A payment shall not be deemed to have been made on any day, unless such payment has been received by Lender, via wire transfer, in U.S. dollars, by no later than 5:00 p.m. (New York time) on such day. Whenever any payment to Lender hereunder would otherwise be due (except by reason of acceleration) on a day that is not a Business Day, such payment shall be due on the next Business Day. FILED: QUEENS COUNTY CLERK 06/23/2022 04:26 PM INDEX NO. 715005/2021 NYSCEF DOC. NO. 34 RECEIVED NYSCEF: 06/23/2022 C. PREPAYMENTS. 1. Provided Borrower has made not less than SIX (6) full monthly payments of interest hereunder, covering all interest through March 31", 2020, Borrower may prepay the principal balance of the Loan, in whole, but not in part, prior to the Maturity Date, without penalty, provided that interest shall be calculated through the last day of the month in which prepayment is made. 2. The Loan may be prepaid, in whole or in part, prior to March 31", 2020, provided that, simultaneously therewith, Borrower shall pay all interest on the Loan which should have accrued through and including that date had the Loan not been prepaid. No partial prepayment of the Loan shall be permitted. A Payoff Preparation Fee will be charged to borrower in the amount of $695.00. D. DEFAULT/REMEDIES. 1. The entire principal balance of this Note, together with all accrued interest and other charges thereon (including any interest which would have been payable on the principal balance of the Loan through and includ.ing the Maturity Date), and all other attorneys' expenses, including, but not limited to, reasonable fees and expenses incurred by Lender in collecting or enforcing payment hereof (whether or. not suit is brought) shall, upon written notice from Lender, immediately become due and payable, and this Note shall be accelerated: i. if Borrower shall fail to make any payment hereunder within five (5) days after the due date thereof (except that there shall be no grace period if the Loan shall not be paid in full on the Maturity Date); or ii. upon the happening of an Event of·Default. 2. Shall this note not be paid in full by the maturity date, Borrower shall pay to lender a penalty payment equivalent to three percent (3%) of the total outstanding Principal Loan Balance. 3. in addition, Lender may sue on this Note, foreclose any liens securing this Note and pursue any and all other remedies available to Lender at law or in equity, or pursue any s combination of the above, all remedies hereunder being cumulative. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided hereunder, attorneys' including, but not limited to, reasonable fees. E. DEFINITIONS. Day" 1. "Business means any day other than a Saturday, Sunday or other day on which banks in New York State are authorized or required to close under applicable law. Rate" 2. "Default means twenty-three and 99/100 percent (23.99%) per annum. Nothing contained herein shall require Borrower to pay interest at a rate exceeding the maximum permissible rate under applicable law. If interest payable by Borrower on any date would exceed the maximum permissible rate, such interest payment shall automatically be reduced to such maximum permitted amount. Default" 3. "Event of has the meaning ascribed to such term in the Mortgage. Documents" 4. "Loan shall refer collectively to this Note, the Mortgage, the Guaranty and all other documents and instruments delivered to Lender, in favor of Lender made by, or for the benefit of, Borrower, during the term of this Note to evidence, secure andfor guarantee payment of the Loan, and all renewals, additions, supplements, FILED: QUEENS COUNTY CLERK 06/23/2022 04:26 PM INDEX NO. 715005/2021 NYSCEF DOC. NO. 34 RECEIVED NYSCEF: 06/23/2022 amendments, modifications, consolidations, spreaders, restatements, extensions and replacements hereof and thereof. "Mortgage" 5. means the certain Mortgage, Security Agreement and Assignment of Leases and Rents of even date herewith made by Borrower to and in favor of Lender covering the premises known as 94-05 Pitkin Avenue, Ozone Park, NY 11417. F. MISCELLANEOUS. 1. Borrower shall pay or reimburse Lender for all out-of-pocket cost and expenses (including reasonable fees and disbursements of legal counsel, appraisers, accountants and other experts) incurred by Lender in connection with, arising out of, or in any way related to protecting, preserving, exercising or enforcing any of its rights in, under or related to the Loan Documents. 2. Borrower hereby waives valuation, appraisement, presentment,demand for payment, protest, notice of dishonor, notice of non-payment, lack of diligence, delays in collection, delays in enforcement, notice of the intention to accelerate and the benefit of all applicable law affording any right of redemption or cure. 3. Time is of the essence with regard to Borrower's performance hereunder. 4. Lender's rights and remedies under this Note shall be in addition to all other rights and remedies under the Mortgage and applicable law. The obligations and liabilities of Borrower hereunder shall be joint and several. 5. This Note shall be governed by the laws of the State of New York. 6. Any judicial proceeding brought against Borrower with respect to this Note or the Mortgage may be brought in any court of competent jurisdiction in the City of New York, and Borrower: i. (a) accepts, generally and unconditionally, the nonexclusive jurisdiction of such courts and any related appellate courts and irrevocably agrees to be bound by any judgment rendered thereby in connection with this Note or the Mortgage and (b) irrevocably waives any objection it may now or hereafter have as to the venue of any such proceeding brought in such a court or that such a court is an inconvenient forum. Any judicial proceeding by Borrower against Lender shall be brought only in a court located in the City and Stat of New York. BORROWER AND LENDER HEREBY WAlVE TRIAL BY JURY IN ANY JUDICIAL PROCEEDING TO WHICH THEY ARE PARTIES INVOLVING THIS NOTE OR THE MORTGAGE. 7. This Note is secured by the Mortgage. 8. Borrower agrees to grant access to the premises to the Lender, or his/her agent, within 72 hours of a formal request, so that an appraisal may be conducted. Borrower's failure to grant access within 72 hours will place this loan in default. All of the provisions of this Note shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. [THIS SPACE INTENTIONALLY LEFT BLANK] [SIGNATURES ON FOLLOWING PAGE] FILED: QUEENS COUNTY CLERK 06/23/2022 04:26 PM INDEX NO. 715005/2021 NYSCEF DOC. NO. 34 RECEIVED NYSCEF: 06/23/2022 IN WITNESS WHEREOF, Borrower has executed this Note on the day and year first above written. R&C Asset Management Cérp, By: PAUL GROSS Its: Sole Sharehol r Acknowledgement STATE OF NEW YORK COUNTY OF On the 27th day of September in the year 2019, before me, the undersigned, a Notary Public in and for the State of New York, personally appeared PAUL GROSS , personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his capacity, and that by his signature on the instrument, the individual, or the person upon behalf of which the individual acted, executed the instrument. Nota blic BRUNENGRABER LYNNE Public, State of New York Notary No. 01BR6080374 Qualified in Suffolk County My Commission Expires 09/09/2d FILED: QUEENS COUNTY CLERK 06/23/2022 04:26 PM INDEX NO. 715005/2021 NYSCEF DOC. NO. 34 RECEIVED NYSCEF: 06/23/2022 ALLONGE MORTGAGOR: R&C ASSET MANAGEMENT CORP DATE OF NOTE: SEPTEMBER 27, 2019 LOAN NUMBER LOAN AMOUNT: $300,000.00 PROPERTY ADDRESS: 94-05 PITKIN AVENUE, OZONE PARK, NY 11417 Pay to the order of Toorak Capital Partners, LLC, a Delaware limited liability company without recourse. Dated: OCOTOBER 3, 2019 FLATIRON REALTY CAPITAL, LLC Name:f66ert Ta sazan Title: Managing Director FILED: QUEENS COUNTY CLERK 06/23/2022 04:26 PM INDEX NO. 715005/2021 NYSCEF DOC. NO. 34 RECEIVED NYSCEF: 06/23/2022 ALLONGE Allonge to Promissory Note dated September 27, 2019 made by R&C Asset Management Corp., to Flatiron Realty Capital LLC, in the original principal amount of $300,000.00 covering premises located at 94-05 Pitkin Avenue, Ozone Park, NY 11417. Pay to the order of Flatiron Realty Capital LLC without warranty or representation, either expressed or implied without recourse to Assignor in any event whatsoever. Pay to the order of Flatiron Realty Capital LLC without recourse. Dated: 7/ 3) /¿e) Toorak Capital Partners LLC By: Name: Darren Weaver Title: Principal VLAD MARHEFKA - Notary Public State of New Jersey My Commission Expires Aug 29, 2024 FILED: QUEENS COUNTY CLERK 06/23/2022 04:26 PM INDEX NO. 715005/2021 NYSCEF DOC. NO. 34 RECEIVED NYSCEF: 06/23/2022 ALLONGE Allonge to Promissory Note dated September 27, 2019 made by R&C Asset Management Corp to Flatiron Realty Capital LLC in the original principal amount of $300,000.00 covering premises located at 94-05 Pitkin Avenue, Ozone Park, NY 11417. Pay to the order of Special Service America, LLC without warranty or representation, either expressed or implied without recourse to Assignor in any event whatsoever. Pay to the order of Special Service America, LLC without recourse. Dated: Flatiron Realty Capital LC By: NameÈRobe\(T),asazan Title: Principal FILED: QUEENS COUNTY CLERK 06/23/2022 04:26 PM INDEX NO. 715005/2021 NYSCEF DOC. NO. 34 RECEIVED NYSCEF: 06/23/2022 ALLONGE Allonge to Promissory Note dated September 27, 2019 made by R&C Asset Management Corp., to Flatiron Realty Capital LLC, in the original principal amount of $300,000.00 covering premises located at 94-05 Pitkin Avenue, Ozone Park, NY 11417. Pay to the order of SSA NE Assets LLC without warranty or representation, either expressed or implied without recourse to Assignor in any event whatsoever. Pay to the order of SSA NE Assets LLC without recourse. Dated: I / 2 o ito 2- t Special Service America LLC By: Name: ( Title: A h e