On April 22, 2024 a
Exhibit,Appendix
was filed
involving a dispute between
Kaitlin Krause,
and
1750 Dean St., Llc,
for Commercial - Contract
in the District Court of Queens County.
Preview
FILED: QUEENS COUNTY CLERK 04/22/2024 03:21 PM INDEX NO. 708580/2024
NYSCEF DOC. NO. 2 RECEIVED NYSCEF: 04/22/2024
I NIT NI MBER I'¾ 560
1750 I)EAN 5TRF@ I CONDOMINIt M
1748-1762 DEAN NTREF1
RRO(El3N, NEW YORK 11233
(TO BE EXECt'TED IN QL'INT L PLICATF)
AGREEM@ N I, made as of 2020. between Sponsor iderined helow) and Purchaser Idefined below )
W I INI SS[ Ill
1. l ilE PI AN Purchaser acknowledges reteived read
haung imd a copy of the Plan the
1750 01tering
D[ AN S I REl T CONDOMNial dated October 22. 2nn? and all amendments thereto. if any. tiled
with
the Depar1ment of State of New York (hereinatier, collettneiy, retened to as the "Plan i at least 1 business
Jays poor to Purchasers
sigmng this Ayreement. It Purebaser has not received and read the Plan and ah
amendments thereto at least busmess Jay s prior to Purchaser's
signing this Agreement. Purchaser shall have
tht -ight re restmJ this \greemem by sending untter notice of such rescission to Sponsor
by cenitied or
registered m.n). return receipt requested. or my personal delivery. in either case within 7 day s from the date
Purchaser dehvers an executed Purchase Agreement together unh the required Deposit to the
selhng Agent.
l he Plan is incorporated herein reference
by and niade a part hereoI with the same force and ef fect as if set
Iorth at length In the event of any intonsistency between the prousions of this \greement and the Plan. the
provisions o1 the PLm will govern and be bindmg, excepI as to meonsistencies aristne trom changes to the
Pttrchase \preenient negotiated hetween Nponsor and Purthasei Purchaser adopts. accepts
hereby and
approves the Plan (including, without the
hmitation, Declaration, By-laws and Rules and Regulations contamed
therein) and agrees to abide and be bound the terms and
by conditions thereof. as well as all amendments to the
Plan duh tiled by Sponsor
2. DEFIMlB)NS. Terms used herein which are also used in the Plan shall have the same meanings
as they do in the Plan. unless the context requires otherwise
"Sponsor''
2.1 means (750 pl AN S t . I.I C. having an office at 82.56 210 Street
Queens Village. New York 11427 Sponsor's taxpayer identification number is
"Purchaser"
2 2. means Kaitlm Pshttti. has mg an address at 356 Decatur Ntreet, jjkupkh
New York I1233. Purchasert s) social security number(s) are and
23 Sponsor"
'Attorney for means & Spector. I I P. haung
Rothkrug Ruthkrug an ottice at
55 ½ atermill I ane. Suite 200, Great Neck. New York I1921
2.4 "Attomes tor Purchaser means Kwasi [ aw. PI I L itn Rsahna I im¿h_wa.sts Eso
having an address at 800 t hird Avenue. Nuite 2K0thNew T o:A, Ne York 19022. lelephone Number
644968-2388: Faesunite Number 646-626-7568: emad address r d ·d a smhm m
.T 5 Agent"
"Selling means I he Corcoran
Uroup
"Co-Broker"
2+ means Ihe ( orcoran Urom
FILED: QUEENS COUNTY CLERK 04/22/2024 03:21 PM INDEX NO. 708580/2024
NYSCEF DOC. NO. 2 RECEIVED NYSCEF: 04/22/2024
IIll ( Nil I pon and subjeu In the Ierris and conditions wt Iorth herem.
and Sponsor ances n sell
comey . and Purchaser agrees to I mu u.
purchase, the has me the I nit Numberis) in the I)es la:aiion.
together with otsi uheiri undn ided ".. of interest in the ( ommon I lements .ippurtenant in such l'mnu set :orth
below
UNI l NO 1756-56C 4.1964% of COMMON INTER) S I
4. PER( IIASA PRICI .
4.1 The purchase price tor the l nit ("Purchase PriceN is:
$L07500u tH
The Purchase Price is pay able as follows
tal "Deposit"
SI07.500.(V< (the L due upon Purchaser's signmg and submittmg this
Agreement ebeck (subiect to collectionL receipt of which is hereby acknowledged.
(b) yL5F0.00 the balance
constituting of the Purchase Price. good certified
by
check of Purcha.ser or official bank check payable on the denserv of the deed as heremalter
provided.
4 2 All checks shall represent 11nited States currency. be drawn on or issued by a ('nited
States Bank on trust which is a member
cornpany of the f ederal Resene System shall be unendorsed rhe
Deposit shall he made payable to the direct order "
of
"Rothkrug & Spector. I I P. as Escrow
Rothkrug Agent
the balance of the Purchase Price shan be made payable to the Jirect order of I750 DI AN S t I 11 for such
oiner parn as sponsor directs to Purchaser. in writing at least day s poor in the Jate of
hing of fitlet It any
check is returned tor msulticient tunds or any other reason. such return shall be deemed to he a defauh by
Purchaser noder this Agreement and shall entitle sponsor to exerciv am of the remedies sel forth m \r'icle 14
herent the loregoing. it the sheck
Notwithstanding the Deposil is retunted tor
representing msutlicent tunds on
any other reason. such return shall be Jeemed to be a non-surable default by Purchaser and the \greement shal;
automatically be deemed cancelled. 1;pon the cancellation of this Agreement. Purchaser and Spon.-n 6:11 be
released and discharged of all further and
liability obligations hereunder and i.nder the Plan. and ( int
the may
he sold to another as though this Agreement had never been made. and without any obligation to account to
Purchaser for any of the pnceeds of such sale.
5 Di P!iSII 10 BF iltl.D IN [RI A.
'st the law lirm of Rothkrug & Spector.
RothknÈ 1.I P. shall
sene as eserow agent ("Escrow Agent"I for Sponsor and Purchaser I serow Atent has des nated the
foHowing attorneys to sene as signatories Simon II. \\
Rothkrug. Adam Rothirug. Douglas M Spector All
designated signatories are admitted to practice law m the state of New ork Neither the Fserow \eent nor am
authorved s enatories on the account are the theren'
Sponsor. Se.h:ig \gent. \gent. or any principai
Managing
or have any beneticial interest in am of the forecouip.
B Escrow Aeent and all authorized signa:ories hereby submit to the 1ursdiction of the Ni.ite of New York
and Its Couns he cause of action out of
any arismg the Purchase Agreement or otherwme the
concermng
mamtenance of release of the Deposit from escrow.
t l he Escrow Agent has established the eseruw account at C itthank N L located at I I I (ireat Neck Road.
FILED: QUEENS COUNTY CLERK 04/22/2024 03:21 PM INDEX NO. 708580/2024
NYSCEF DOC. NO. 2 RECEIVED NYSCEF: 04/22/2024
t ireat Neck. New ½ ork 1 1021 m :he St.ne of New ) ork ("Hank i. a bank
o' authorized to do busmess in ine Wue
New Ywk t he esenm es entnled
accinun
Rothkrug Rothirug & Spector. \ttomes Estrow Aceman
l strow \teonrh t he Fscrow lecount is not an l()l.A ateount The t serow Account is lederalE in,ared
the I pl( at the maxmmm e: by
amount NN0.nio per deposit Any deposit in excess of $250.000 will nol be
msured
D All heposits recened by Purchaser shall be in the torm of (cheeks. money orders, woe transfers. or
other mstruments), and shall be made pavable to or endorsed the Purchaser
by to the order of
Rothkrug & 'spector. as Fwrow Rothkru3
igent
Ihe interest rate for all Deposits made into the E scrow Account shall be the prevailing rate tor such
accounts. which is currently 0.2% Interest shall begin to accrue upon placing the Deposit into the Fserow
Account All interest earned thereon shall be paid to or credited to the Purthaser at elosing, No tees of
kind be deducted any
may from the Escrow Account. and the Sponsor shall bear all costs associated with the
mamtenance of the Escrow Account.
F Within the (5) business day s after the Purchase Agreement has been tendered to I wrow Aeent along
with the Deposit. the Escrow bent shali sign the Purchase Vreement and place the Deposit into the I semw
\ecount With ten i im busmess day s or the placing the deposit n the Escrow ·\ccount. I serow
Purchase- Went shall
proude wntten notice to and Sponsor. the Deposit. t he notae
confamling shall provide the actotun
nuniber and the initial interest rate to be earned on the Deposit Deposn3 made for
Any upgrades. extras or
custom work shall be deposited into the
initially Escrow Account. and released in accordance to the terms of a
written agreement between Purchaser and Sponsor
G. rhe Escrow Agent is obligated to send notice In the Purchaser once the Deposit is placed in the I scrow
Account. it the Purchaser does not receive notice of such Jeposit within ñfteen I I busmess
of day s after tender
the Deposit. he or she cancel the
may Purchase Agreement within 19m days
ninety after tender of the
Purchase Agreement and Deposit to @serow Agent. Complaints the Sihire to
concerning honor such
cancellation requests may he referred to the New York State Department of I aw. Real Estate I inance Bureau,
I?0 Broadway, 2F Floor. New York. N T In271. Rescission shall not be aftbrded where proof to
the satisfactory
Attorney General is subuntled that the
estabhshmg Deposit was timely placed in the Escrow Account in
accordance with the New York state Department of I aw's regulations Deposits and requisite notice
concerning
was timely mailed to the Purchaser
IL All Deposits. except for advantm made for upgrades. estras. or custom work retened in connection
with the Purchase Agreement. are and shall continue to be the Purchaser's money. and not
may be comingled
with any other money or pledged or hy potheeated
by Sponsor, as per GBI § 352 h.
I ( nder no eircumstances shall Sponsor seek or accept release of the Deposit of a defaulting Ptuchaser
until after consummation of the Plan, as evidenced
by the acceptance of a post-closing amendment the New
by
York State Department of I.aw Consummation of the Plan Joes not relieve the Sponsor of its obligations
pursuant to GBI §) 352-e(2-b) and 352-h,
Ihe Escrow Agent shall release the Deposit if so directed:
(a) pursuant to terms and conditions set forth in the Purchase Agreemem in this Paragraph
upon elosing of title lo the L IniI; or
Ibi in a subsequent signed
wrhing by hath Sponsor and Purchaser. or
FILED: QUEENS COUNTY CLERK 04/22/2024 03:21 PM INDEX NO. 708580/2024
NYSCEF DOC. NO. 2 RECEIVED NYSCEF: 04/22/2024
(c) by a tinal. non-appeahible order or judgrnent of a court.
If the I scrow Agent is no: Jisected to relea·,e the Deposu pursn;mt to paragraphs lai through ic; amost.
and the Escrew \gent recenes a request by either pany to release the I)eposit. then the @serow Agent must ene
both the Purchasci and 5ponsor prior uniten notice of not tewer than 13) before
thirty daµ releasing the
Deposit 11 Ihe I scrow Ageni has not recened notice of objection to the release of the Deposit prior to the
expiration of the (3th period, the Deposit
thirty day shall be released and the Escrow Agent sha!l prmde further
written notice to both parties them or satJ release
informing If the Escrow Agent receis es a written notice from
either party to the release of the I)eposat
obiceting within said thirty ( W) day period. the Escrow Agent shall
continne to hold the Deposit until otherwise directed pursuant to paragraphs expressly stated nerem
or m the Plan to be performed subsequent to the clowng. and herein
nothing shall be m Jerogation of the
nghts of purchasers under \rucle .R \ of the beneral Husiness Liu the Plan and Part 20 ot the
Reguianons nsued by the Department of I aw
8 S I A ll!S Of IIll I
8 I At the of
closing title. Sponsor shall to Purchaser
convey good and insurable title in fee
simple to the Unit, free and clear of all liens and eneumbrances other 'han those expressh agreed to by
Purchaser or set torth in Schedule .\ annexed hereto and made a part herent \ny hen and eneunibranet
or condition to which utle is not to be subject shall not be an objection to title d la) the untrument
requeed to remove n of record is delnered at or prior to the or ntle to
closmg the oroper pacq or to
Purchasers t ale msurance compant together with the anendant or
recording lihny tee. :1 any u at
would be wdling. m a tee pohey issued by it (c the Purchaser. to insure Purchaser that it will not be
coheeted oilt of tlle Î ntt It :t Is a Ileft or ½lli not he enforced agamsl the t nit it n is not a lieu at no
additional cost or additional premi um, to Purchaser.
82 Sponsor shall be entated to adjourn the to remm.e or correct
Closmg any defect m title
which is not set lorth in Schedule \ f lowever. if such defect existed at least 10 days prior to the
closing and Purchaser. or Purchaser s attonley. to
tailed send Sponsor's wrilien notice
attorney of such
Jetect in title at least 10 Jays prior to the closing of title. then. tor purposes of Aruele 14 he!ow.
Purchaser shall be deemed at fault tor not having sent timeb nonce. and the closing adjournment to
.dlow \ponsor to correct or remove such title detect shall be considered as bemg at the request of
Purchaser
8 3 It subsequent to the of
elosing title. Purenascr clauns that sponsor did not comey good
and insurable title in fee simple to the (init in accordance with the Plan. Purchaser must lirst seek
reemers agamst Purchaser's title insurance company before against sponsor
Document Filed Date
April 22, 2024
Case Filing Date
April 22, 2024
Category
Commercial - Contract
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FILED: QUEENS COUNTY CLERK 04/22/2024 03:21 PM INDEX NO. 708580/2024 NYSCEF DOC. NO. 2 RECEIVED NYSCEF: 04/22/2024 I NIT NI MBER I'¾ 560 1750 I)EAN 5TRF@ I CONDOMINIt M 1748-1762 DEAN NTREF1 RRO(El3N, NEW YORK 11233 (TO BE EXECt'TED IN QL'INT L PLICATF) AGREEM@ N I, made as of 2020. between Sponsor iderined helow) and Purchaser Idefined below ) W I INI SS[ Ill 1. l ilE PI AN Purchaser acknowledges reteived read haung imd a copy of the Plan the 1750 01tering D[ AN S I REl T CONDOMNial dated October 22. 2nn? and all amendments thereto. if any. tiled with the Depar1ment of State of New York (hereinatier, collettneiy, retened to as the "Plan i at least 1 business Jays poor to Purchasers sigmng this Ayreement. It Purebaser has not received and read the Plan and ah amendments thereto at least busmess Jay s prior to Purchaser's signing this Agreement. Purchaser shall have tht -ight re restmJ this \greemem by sending untter notice of such rescission to Sponsor by cenitied or registered m.n). return receipt requested. or my personal delivery. in either case within 7 day s from the date Purchaser dehvers an executed Purchase Agreement together unh the required Deposit to the selhng Agent. l he Plan is incorporated herein reference by and niade a part hereoI with the same force and ef fect as if set Iorth at length In the event of any intonsistency between the prousions of this \greement and the Plan. the provisions o1 the PLm will govern and be bindmg, excepI as to meonsistencies aristne trom changes to the Pttrchase \preenient negotiated hetween Nponsor and Purthasei Purchaser adopts. accepts hereby and approves the Plan (including, without the hmitation, Declaration, By-laws and Rules and Regulations contamed therein) and agrees to abide and be bound the terms and by conditions thereof. as well as all amendments to the Plan duh tiled by Sponsor 2. DEFIMlB)NS. Terms used herein which are also used in the Plan shall have the same meanings as they do in the Plan. unless the context requires otherwise "Sponsor'' 2.1 means (750 pl AN S t . I.I C. having an office at 82.56 210 Street Queens Village. New York 11427 Sponsor's taxpayer identification number is "Purchaser" 2 2. means Kaitlm Pshttti. has mg an address at 356 Decatur Ntreet, jjkupkh New York I1233. Purchasert s) social security number(s) are and 23 Sponsor" 'Attorney for means & Spector. I I P. haung Rothkrug Ruthkrug an ottice at 55 ½ atermill I ane. Suite 200, Great Neck. New York I1921 2.4 "Attomes tor Purchaser means Kwasi [ aw. PI I L itn Rsahna I im¿h_wa.sts Eso having an address at 800 t hird Avenue. Nuite 2K0thNew T o:A, Ne York 19022. lelephone Number 644968-2388: Faesunite Number 646-626-7568: emad address r d ·d a smhm m .T 5 Agent" "Selling means I he Corcoran Uroup "Co-Broker" 2+ means Ihe ( orcoran Urom FILED: QUEENS COUNTY CLERK 04/22/2024 03:21 PM INDEX NO. 708580/2024 NYSCEF DOC. NO. 2 RECEIVED NYSCEF: 04/22/2024 IIll ( Nil I pon and subjeu In the Ierris and conditions wt Iorth herem. and Sponsor ances n sell comey . and Purchaser agrees to I mu u. purchase, the has me the I nit Numberis) in the I)es la:aiion. together with otsi uheiri undn ided ".. of interest in the ( ommon I lements .ippurtenant in such l'mnu set :orth below UNI l NO 1756-56C 4.1964% of COMMON INTER) S I 4. PER( IIASA PRICI . 4.1 The purchase price tor the l nit ("Purchase PriceN is: $L07500u tH The Purchase Price is pay able as follows tal "Deposit" SI07.500.(V< (the L due upon Purchaser's signmg and submittmg this Agreement ebeck (subiect to collectionL receipt of which is hereby acknowledged. (b) yL5F0.00 the balance constituting of the Purchase Price. good certified by check of Purcha.ser or official bank check payable on the denserv of the deed as heremalter provided. 4 2 All checks shall represent 11nited States currency. be drawn on or issued by a ('nited States Bank on trust which is a member cornpany of the f ederal Resene System shall be unendorsed rhe Deposit shall he made payable to the direct order " of "Rothkrug & Spector. I I P. as Escrow Rothkrug Agent the balance of the Purchase Price shan be made payable to the Jirect order of I750 DI AN S t I 11 for such oiner parn as sponsor directs to Purchaser. in writing at least day s poor in the Jate of hing of fitlet It any check is returned tor msulticient tunds or any other reason. such return shall be deemed to he a defauh by Purchaser noder this Agreement and shall entitle sponsor to exerciv am of the remedies sel forth m \r'icle 14 herent the loregoing. it the sheck Notwithstanding the Deposil is retunted tor representing msutlicent tunds on any other reason. such return shall be Jeemed to be a non-surable default by Purchaser and the \greement shal; automatically be deemed cancelled. 1;pon the cancellation of this Agreement. Purchaser and Spon.-n 6:11 be released and discharged of all further and liability obligations hereunder and i.nder the Plan. and ( int the may he sold to another as though this Agreement had never been made. and without any obligation to account to Purchaser for any of the pnceeds of such sale. 5 Di P!iSII 10 BF iltl.D IN [RI A. 'st the law lirm of Rothkrug & Spector. RothknÈ 1.I P. shall sene as eserow agent ("Escrow Agent"I for Sponsor and Purchaser I serow Atent has des nated the foHowing attorneys to sene as signatories Simon II. \\ Rothkrug. Adam Rothirug. Douglas M Spector All designated signatories are admitted to practice law m the state of New ork Neither the Fserow \eent nor am authorved s enatories on the account are the theren' Sponsor. Se.h:ig \gent. \gent. or any principai Managing or have any beneticial interest in am of the forecouip. B Escrow Aeent and all authorized signa:ories hereby submit to the 1ursdiction of the Ni.ite of New York and Its Couns he cause of action out of any arismg the Purchase Agreement or otherwme the concermng mamtenance of release of the Deposit from escrow. t l he Escrow Agent has established the eseruw account at C itthank N L located at I I I (ireat Neck Road. FILED: QUEENS COUNTY CLERK 04/22/2024 03:21 PM INDEX NO. 708580/2024 NYSCEF DOC. NO. 2 RECEIVED NYSCEF: 04/22/2024 t ireat Neck. New ½ ork 1 1021 m :he St.ne of New ) ork ("Hank i. a bank o' authorized to do busmess in ine Wue New Ywk t he esenm es entnled accinun Rothkrug Rothirug & Spector. \ttomes Estrow Aceman l strow \teonrh t he Fscrow lecount is not an l()l.A ateount The t serow Account is lederalE in,ared the I pl( at the maxmmm e: by amount NN0.nio per deposit Any deposit in excess of $250.000 will nol be msured D All heposits recened by Purchaser shall be in the torm of (cheeks. money orders, woe transfers. or other mstruments), and shall be made pavable to or endorsed the Purchaser by to the order of Rothkrug & 'spector. as Fwrow Rothkru3 igent Ihe interest rate for all Deposits made into the E scrow Account shall be the prevailing rate tor such accounts. which is currently 0.2% Interest shall begin to accrue upon placing the Deposit into the Fserow Account All interest earned thereon shall be paid to or credited to the Purthaser at elosing, No tees of kind be deducted any may from the Escrow Account. and the Sponsor shall bear all costs associated with the mamtenance of the Escrow Account. F Within the (5) business day s after the Purchase Agreement has been tendered to I wrow Aeent along with the Deposit. the Escrow bent shali sign the Purchase Vreement and place the Deposit into the I semw \ecount With ten i im busmess day s or the placing the deposit n the Escrow ·\ccount. I serow Purchase- Went shall proude wntten notice to and Sponsor. the Deposit. t he notae confamling shall provide the actotun nuniber and the initial interest rate to be earned on the Deposit Deposn3 made for Any upgrades. extras or custom work shall be deposited into the initially Escrow Account. and released in accordance to the terms of a written agreement between Purchaser and Sponsor G. rhe Escrow Agent is obligated to send notice In the Purchaser once the Deposit is placed in the I scrow Account. it the Purchaser does not receive notice of such Jeposit within ñfteen I I busmess of day s after tender the Deposit. he or she cancel the may Purchase Agreement within 19m days ninety after tender of the Purchase Agreement and Deposit to @serow Agent. Complaints the Sihire to concerning honor such cancellation requests may he referred to the New York State Department of I aw. Real Estate I inance Bureau, I?0 Broadway, 2F Floor. New York. N T In271. Rescission shall not be aftbrded where proof to the satisfactory Attorney General is subuntled that the estabhshmg Deposit was timely placed in the Escrow Account in accordance with the New York state Department of I aw's regulations Deposits and requisite notice concerning was timely mailed to the Purchaser IL All Deposits. except for advantm made for upgrades. estras. or custom work retened in connection with the Purchase Agreement. are and shall continue to be the Purchaser's money. and not may be comingled with any other money or pledged or hy potheeated by Sponsor, as per GBI § 352 h. I ( nder no eircumstances shall Sponsor seek or accept release of the Deposit of a defaulting Ptuchaser until after consummation of the Plan, as evidenced by the acceptance of a post-closing amendment the New by York State Department of I.aw Consummation of the Plan Joes not relieve the Sponsor of its obligations pursuant to GBI §) 352-e(2-b) and 352-h, Ihe Escrow Agent shall release the Deposit if so directed: (a) pursuant to terms and conditions set forth in the Purchase Agreemem in this Paragraph upon elosing of title lo the L IniI; or Ibi in a subsequent signed wrhing by hath Sponsor and Purchaser. or FILED: QUEENS COUNTY CLERK 04/22/2024 03:21 PM INDEX NO. 708580/2024 NYSCEF DOC. NO. 2 RECEIVED NYSCEF: 04/22/2024 (c) by a tinal. non-appeahible order or judgrnent of a court. If the I scrow Agent is no: Jisected to relea·,e the Deposu pursn;mt to paragraphs lai through ic; amost. and the Escrew \gent recenes a request by either pany to release the I)eposit. then the @serow Agent must ene both the Purchasci and 5ponsor prior uniten notice of not tewer than 13) before thirty daµ releasing the Deposit 11 Ihe I scrow Ageni has not recened notice of objection to the release of the Deposit prior to the expiration of the (3th period, the Deposit thirty day shall be released and the Escrow Agent sha!l prmde further written notice to both parties them or satJ release informing If the Escrow Agent receis es a written notice from either party to the release of the I)eposat obiceting within said thirty ( W) day period. the Escrow Agent shall continne to hold the Deposit until otherwise directed pursuant to paragraphs expressly stated nerem or m the Plan to be performed subsequent to the clowng. and herein nothing shall be m Jerogation of the nghts of purchasers under \rucle .R \ of the beneral Husiness Liu the Plan and Part 20 ot the Reguianons nsued by the Department of I aw 8 S I A ll!S Of IIll I 8 I At the of closing title. Sponsor shall to Purchaser convey good and insurable title in fee simple to the Unit, free and clear of all liens and eneumbrances other 'han those expressh agreed to by Purchaser or set torth in Schedule .\ annexed hereto and made a part herent \ny hen and eneunibranet or condition to which utle is not to be subject shall not be an objection to title d la) the untrument requeed to remove n of record is delnered at or prior to the or ntle to closmg the oroper pacq or to Purchasers t ale msurance compant together with the anendant or recording lihny tee. :1 any u at would be wdling. m a tee pohey issued by it (c the Purchaser. to insure Purchaser that it will not be coheeted oilt of tlle Î ntt It :t Is a Ileft or ½lli not he enforced agamsl the t nit it n is not a lieu at no additional cost or additional premi um, to Purchaser. 82 Sponsor shall be entated to adjourn the to remm.e or correct Closmg any defect m title which is not set lorth in Schedule \ f lowever. if such defect existed at least 10 days prior to the closing and Purchaser. or Purchaser s attonley. to tailed send Sponsor's wrilien notice attorney of such Jetect in title at least 10 Jays prior to the closing of title. then. tor purposes of Aruele 14 he!ow. Purchaser shall be deemed at fault tor not having sent timeb nonce. and the closing adjournment to .dlow \ponsor to correct or remove such title detect shall be considered as bemg at the request of Purchaser 8 3 It subsequent to the of elosing title. Purenascr clauns that sponsor did not comey good and insurable title in fee simple to the (init in accordance with the Plan. Purchaser must lirst seek reemers agamst Purchaser's title insurance company before against sponsor