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FILED: MONTGOMERY COUNTY CLERK 04/24/2023 04:56 PM INDEX NO. EF2022-477
NYSCEF DOC. NO. 190 RECEIVED NYSCEF: 04/24/2023
EXHIBIT N
FILED: MONTGOMERY COUNTY CLERK 04/24/2023 04:56 PM INDEX NO. EF2022-477
NYSCEF DOC.
.: NO. 190 .: 6
JgX NYSCEF:
RECEIVED NÇ.22p22 77
04/24/2023
51 3
Es iF 666: 8 R1 NWÊM O
NOTICE OFDEFAULT
April 13, 2022
Mr. David Raven
133 Main Street
Mountaindale, NY 12763
Robinhood Properties LL.C.,
Little Falls Garden Apartments LLC
Brookview Town Houses LLC
Cor Holdings, LLC
c/o Carl Orsini
200 South Middle Neck Road, Unit 5
Great Neck, NY 11021
co: Scott Lickstein, Esq.
Newman & Lickstein
109 South Warren Street, Suite 404
Syracuse, NY 13202
RE: 759 East Monroe Street, Falls, NY 13365
Little
60 East Main Street, Fonda, NY 12068
97 Mettowee Street, Granville, NY 12832 .
Dear Mr. Raven:
Reference is made to the following:
(i) Governing Mortgage, dated October 16, 2020 by and between Robinhood
Properties L.L.C., a New York limited liability company, Little Falls Garden
Apartments LLC, aNew York limited liability company, and Brookview Town
Houses LLC, a New York limited liability company, enoh of which having an
address at 200 SouthMiddle Neck Road, Unit 5, Great Neck, NY 11021
(hereinafter referred to as "Borrower"), as mortgagor, and RealFi Real Estate
Investment Trust LLC, a Delaware limited liability company·(now known as
Fairbridge Real Estate Investment Trust LLC), having an address of 707
Westchester Avenue, Suite 304, White Plains, NY 10604 (hereinafter referred
to as "Lender") as znortgagee in the principal sum of $2,250,000.00.
a) Mortgage Extension Agreement executed on or around September30, 2021,
by and between Borrower, as mortgagor, andLender, as mortgagee.
. b) Mortgage Extension Agreement dated January 10, 2022, by and between
Borrower, as znortgagor, and Lender, as mortgagee (hereinafter referred to
as the "2022 Extension"),
FILED: MONTGOMERY COUNTY CLERK 04/24/2023 04:56 PM INDEX NO. EF2022-477
NYSCEF DOC. NO. 190 REExp.52022-477
RECEIVED NYSCEF: 04/24/2023
F ETAIN DñQNiGGGMERy ,QQTRUI'y ,cJARK ,02 ,02) ,L2.:,5,6 y|
(ii) Consolidated Mottgage Note, dated October 16, 2020 by and between Cor
Holdings, LLC, a New York limited liability company, with an address at 200
South Middle Neck Road, Unit 5, Great Neck, NY 11021 and Borrower,
collectively as maker, in favor of Leader, as payee, in the principal sum of
$2,250,000.00.
(iii) Assignment of Leases and Rents to Additionally Secure $2,250,000.00 Secured
Consolidated Note, dated October 16, 2020, by and between Borrower, as
assignor, and Lender,as assignee.
(iv) Guaranty dated October 16, 2020, by David Raven, a New York resident with
an address of 133 Main Street Mountaindale, NY 12763, as guarantor, in favor
of Lender.
This letter shall serve as a formal notification that you are in default of your
obligation to make payments.
If we do not receive payment in full of the past due balance within fifteen (15) days
of the date of this of Default,
Notice we intend to pursue every remedy available to us
contractually and at law to enforce collection of all amounts owingto us, including attorney
fees and costs. The total past due balance amount is currently $172,450.00, which is
comprised of: (i) $97,450.00 in interest owed for the months of Febmary 2022 and March
2022 calculated at the default interest rate of 24%, and applicable late fees, also including
$100.00 of leftover interest not paid with the 2022 Extension; and (ii) $75,000.00 owed
pursuant to Section 2 of the 2022 Extension now due and owing for the failure to make
payments when due under the 2022 Extension,
The Lender hereby reserves any and all rights or remedies so long as such events
of default (or any other event of default) has occurred and is continuing. In addition,
notwithstanding the fact that the Lender is not at this moment exercising its rights and
remedies under the various loan and security agreements withregard to the aforementioned
events of default, this delay in exercising such rights or remedies shall not, and should not
be presumed to, operate as a waiver of such rights or remedies.
Please act accordingly.
Lender:
REALFIREAL ESTATE INVESTMENT
TRUST LLC, now known as PAlRBRIDGE
REAL ESTATE INVESTMENT TRUST
LLC,
. By:
Steven J. Wissak
Managing Metnber
.
FILED: MONTGOMERY COUNTY CLERK 04/24/2023 04:56 PM INDEX NO. EF2022-477
NYSCEF DOC.
.: NO. 190 : 6 RECEIVEDNDNYSCEF:
X NO. EF04/24/2023
022_-477
156le . . 3151 D : 3
IFSEEE p §
NOTICE OF DEFAULT
June 9, 2022
Mr. Carl Orsini
Brookylew Town Houses LLC
c/o Carl Orsini
200 South Middle Neck Road, Unit 5
Great Neck, NY 11021
cc: Scott Liokstein, Esq.
Newman & Lickstein
109 South Warren Street, Suite 404
Syracuse, NY 13202
RE: 759 East Monroe Street, Little Falls, NY 13365
60 East Main Street, Fonda, NY 12068
97 Mettowee Street, Granville, NY 12832
Dear Mr. Orsini,
Refemnce is made to the following:
(i) Governing Mortgage, dated October 16, 2020 by and between Robinhood
Properties a New York limited liability
LL.C., company, Little Falls Garden
Apartments LLC, a New York limited liability company, and Brookvlew Town
Houses LLC, a New York limited liability company, each of which having an
address at 200 Middle
South Neck Road, Unit 5, Great Neck, NY 11021
(hereinafter to as "Borrower"),
referred as mortgagor, and ReatFi Real Estate
Investment Trust LLC, a Delaware limited liability company (now imown as
Fairbridge Real Estate Investment Trust LLC), baving an address of 707
Westchester Avenue, Suite 304, White Plains, NY 10604 (herelnailer referred
to as "Lender") as mortgagee in the prinelpal sum of $2,250,000.00. .
a) Mortgage Extension Agreementexecuted on or around September30, 2021,
by and between Borrower, as mortgagor, and Lender, as mortgagee.
b) Mortgage Extension Agreement dated January 10, 2022, by and between
Borrower, as mortgagor, and Leader, as mortgagee (hereinafter referred to
as the "2022 Extension").
(i1) Consolidated Mortgage Note, dated October 16, 2020 by and between Cor
Holdings, LLC, a New York limited 1lability company, with an address at 200
South Middle Neck Road, Unit 5, Great Neck, NY 11021 and Borrower,
collectively as maker, in favor of Lender, as payee, in the pr®mcipal sum of
$2,250,000.00.
FILED: MONTGOMERY COUNTY CLERK 04/24/2023 04:56 PM INDEX NO. EF2022-477
NYSCEF DOC. NO. 190 O
RECEIVED NYSCEF:EF2022--A77
04/24/2023
6
. 8151 g§ D F :0 . 3
1 I .
(iii) Assignment of Leases and Rents to Additionally Secure $2,250,000.00 Secured
Consolidated Note, dated October 16, 202D, by and between Borrower, as
assignor, and Lender, as assignee.
(iv) Guaranty dated 04tober 16, 2020, by David Raven, a New York resident with
an.address of 133 Main Street Mountaindale, NY 12763, as guarantor, in favor
of Lender.
This letter shall serve as a formal notification that you are in default of your
obligation to make payments.
Ifwe donot in full of the past due balance within fifteen (15) days
receive payment
of the date of Default, we intend to pursue every remedy available to us
of this Notice
contractrially and at law to.enforce collection ofell amounts owing to us, including attorney
fees and costs. The total past due balance amount is currently $273,100,00, which is
coinprised of: .(i) $198,l D0.00 in interest owed for the months of Febroan 2022, March
2022, .April 2022, ann May 2022 calculated at the default interest rate of 24%, and
applicable late fees, also including $100.00 of leftover interest not paid with the 2022
Extension; and (ii) $75,000.00 owed pursuant to Section 2 ofthe 2022 Extension now due
sñd owing for the failure to make payments when due under the 2022 Extension.
The Lenderhereby reaeryes any and all rights or remedies so long as such events
of default any other event of default) has occurred and is continuing.
(or In addition,
notwithstanding the.fact that the Lender is not at this mo.ment exercising its rights and.
remedies under the various loan and security agreements with regard tothe aforementioned
events of default, this de.lay in exercising such rights·or remedies shall not, and should not
be presumed to, operate as a waiver of auch rights or remedies.
Please act secordingly.
Leader:
REALFl EEAL ESTATE1NVESTMENT
TRUST LLC, nowImown as FAIRBRIDGE
REAL ESTATE INVESTMENT TVUST
LLC,
By:
Steven J. Wiesak
Managing Member
FILED: MONTGOMERY COUNTY CLERK 04/24/2023 04:56 PM INDEX NO. EF2022-477
NYSCEF DOC.
.: NO. 190 : 6
RByxNYSCEF:
RECEIVED no 22p22377
04/24/2023
IRSlc gl51 3
1FS1W { p
NOTICE OF DEFAULT
June 9, 2022
Mr. David Raven
133 Main Street
Mountaindale, NY 12763
oc: Peter Moutinos, Esq.
Moulinos & Assoolates
150 East 58th Street, 25th Floor
New York, NY 10155
RE: 759 East Monroe Street, Little Fnlis, NY 13365
60 East Main Street, Fonda, NY 12068
97 Mettowee Street, Granville, NY 12832
Dear Mr. Raven:
Reference is made to the following:
(i) Governing Mortgage, dated October 16, 2020 by and between Robinhood
Properties a New York limited liability
LL.C., company, Little Falls Garden .
Apartments LLC, aNew York limited liability cornpany, and Brookview Town
Houses LLC, a New York limited liability company, each of whleh having an
address at 200 South Middle Neck Road, Unit 5, Great Neck, NY 11021
(hereinafter referred to as "Borrowet"), as mortgagar, and RealFi Real Estate
Investment Trust LLC, a Delaware limited liability company (now known as.
Fairbridge Estate Investment
Real Trust LLC), having an address of 707
Westchester Avenue, Suite 304, White Plains, NY 10604 (herelnalter referred
to as "Lender") as mortgagee in the pelnoipal sum of $2,250,000.00.
a) Mortgage Extension Agreement executed on or around September30, 2021,
by and between Borrower, as inortgagor, and Londer, as mortgagee.
b) Mortgage Extension Agreernent dated January 10, 2022, by and between
Borrower, as mortgager, and Lender, as mortgagee (hereinafter referred to
us the "2022 Extension").
(ii) Consolidated Mortgage Note, dated October 16, 2020 by and between Cor
Holdings, LLC, a New York limited liability company, with an address at 200
South Middle Neok Road, Unit 5, Great Neck, NY 11021 and Borrower,
collectively as maker, in favor of Lender, as payee, in the principal sum of
$2,250,000.00.
FILED: MONTGOMERY COUNTY CLERK 04/24/2023 04:56 PM INDEX NO. EF2022-477
NYSCEF DOC. NO. 190 X NO.
RECEIVED NYSCEF: 2 2-4'77
04/24/2023
.:
N¥§8M BB6: N8: a51 MME:o%2/896M223
(iii) Assignment of Leases and Rents to Additionally Secure $2,250,000.00 Secured
Consolidated Note, dated October 16, 2020, by and between Borrower, as
assigrior, and Lender, as assighee.
(iv) Guaranty dated October 16, 2020, by Dayid Raven, a New York resident with
an address of 133 Main Street Mountaindale, NY 12763, as guarantor, in favor
of Lender.
This letter shall serve as a fomial notification that you are in default of your
obligation to make payments.
If we do not receive payment in full of the past due balance within
(15) days fifteen
of the date of this Notice of Default, ev.ery remedy available to uå
we intend to pursue
contractually and at law to enforce collection
ofall amounts owing to us, including attorney
fees and costs. The total past due balance amount is currently $273,100.00, which is
comprised of: (i) $198,100.00 in interest owed for the months of February 2022, March
2022, April 2022, and May 2022 calculated. at the default interest rate of 24%, and
applicable late fees, also including $100:00 of leftover interest not paid with the 2022
Extension;· and
(10 $75,000.00 owed pursuant to Section 2 of the 2022 Extension now due
arld ovring for the failure to make payments when due under the 2022 ˆxtension.
The Lander hereby reserves any and all rights or remedies so long as suqh events
of default (or ang othët event of def'ault) has oc.eurred and is continu1ng. In addition,
notwithstanding the fact that the Londer is not at this moment exercising its rights and
remedies underthe various loan and security agreements with regard to theaforementioned
events of default,.this delay In exercising such rights or. remedies shall not, and should not
be presumed to, operate as a waiver of such rights or remedies.
Please act accordingly..
Lender:
REAUFI REAL ESTATE INVESTMENT
TRUS.T LLC, now lcnown as FAntBRIDGE
REAL ESTATE INVESTMENT TRUST
LL ,
By:
Steven L Wisÿak
Managing Meinber