HomeMy WebLinkAbout20180533 385 Broadway Mixed Use Easement Grants 5-20-18 EXHIBIT "A"
! ASEMENTTO385 BROADWAY
• 1949 Deed with Easement
• 1999 Easement Modification Agreement
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ASJ,VAQ l'\-A-J\ \L\ ,
., . EASEMENT MODXFICATION AGREEMENT
c., . .
FS .
L.J.,
This Agreement made the atday of May, 1999 between MAPAT,
LLC with offices at Four Cathesral Park, 4th Floor, Buffalo, New
LD York 14202 (hereinafter referred to as the "Grantorii ) and FRANK
f5
, S. PANZA a/k/a Frank Pana, residing at 96 Lake Avenue, Saratoga I
, 5E'
1 ,...,
.-. Springs, New York 12866 and JOSEPH S, PANZA a/k/a Joseph Panza,
residing at 6253 Midnight Pass goad, Unit 301-1, Sarasota,
. E3
c=. Florida 34242 (hereinafter collectively referred to as the
c=. "Grantee" ) .
,...,
. gag
WITNESSETH:
WHEREAS, heretofore an easement (the "Existing Easement" )
was granted and/or reserved across the Grantor' s property in
instruments recorded in the Saratoga County Clerk's Office in
Liber 505 of Deeds at Page 47 and Liber 1003 of Deeds at Page 544
for the benefit of property now owned by the Grantee (the
"Grantee's Property" ) which was acquired by Deed recorded in
Liber 1048 of Deeds at Page 321; and
WHEREAS, the Grantor and Grantee desire to amend the
E?tistiniEasement in 0_ 4- 4. a al - '. a-ekrAT-egrig_
IrrPe( C?,P1---11 er:t.Z_ADSLA-b-e---Cb-Cal-t-----tOL-D tO.1:1
k-iaritor's property.
ip.. .
NOW, THREFORE, in consideration of the premises and other
good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the parties agree as follows:
1. The Existing Easement is hereby modified to read as
provided in Paragraph 2 hereof.
2. The Grantor does hereby grant to the Grantee an
easement and right of way for ingress and egress by foot, vehicle
, or otherwise to and from the Grantee's Property and Division
Street over and across the following described premises:
_
ALL THAT CERTAIN TRACT OR PARCEL OF LAND situate in the
City of Saratoga Springs (inside district), County of
Saratoga, State of New York, lying on the southerly
. side of Division Street, westerly of Broadway and being
further bounded and described as follows:
;.
,
. BEGINNING at a point on the southerly line of Division
I Street, said point being situate North 59° 27' 0" West
300 feet from the point of intersection of said
southerly line of Division Street and the westerly line
of Broadway and runs thence from said point of
beginning through the lands of Mapat, LIC, as described
in Book 1481 of Deeds at Page 48B the following
on cz.
1,Li 4',Z-1 429
Q.,)----
,
,
courses (1) South 30' 34' 0" west 84.21 feet to a
poiDt; (2) South 6' 52' 35" West 49.78 feet to a point;
(3) South 3.0" 34' 0" West a distance of 199.73 feet to
a point; (4) North 84* 56' 2' West a distunce of 22,16
feet to a point; (5) North 30' 34' 0" East a distance
of 205.08 feet to a point7 (6) North 6* 52' 35" East a
distance of 49.78 feet to a point; (7) North 30* 34' 0"
East a distance of 88.40 feet to a point in the
southerly line of Division Street; thence easterly
along the southerly line of Division Street South 59'
27' 0" East a distance of 20 feet to the point or place
of beginning.
3. The terms of this Agreement supersede in all respects
the terms of the Bxisting Easement.
IN WITNESS WHEREOF, the parties have signed this instrument
as of the day and year first above written.
GRANTOR: MAPAT, iLLC
BY ' i
47 M. u , Member
I \
GRANTEE 1Vvv4 t„,
FRANK S. PA ZA a/k/a
Frr 137za,
c.
30SEPii S. PAN ajek/a
Joseph Panza
6Llik 1520 430
STATE OF NEW YORK)
COUNTY OF ERIE ) SS:
On this 24 day of May, 1999, before me, the subscriber,
personally appeared Myron M. Hunt, a Member in MAPAT, LIZ, to me
known and known to me to be the same person described in and who
exeouted the within instrument, and he acknowledged to me that he
executed the same on behalf of Mapat, LLC.
.•
•
Notary Public
STATE OF rti
•,
COUNTY OF SS:
' On this 26;411 day of May, 1999, before me, the subscriber,
- personally appeared FRANK S. PANZA a/k/aFxrnk Panz. —to MG known
• end known to me to be the same person de c ibed andiwho
executed the within instrument, and he c pw aged tome that he
executed the same.
Notaryo_ &al°0 4
Notary Public,State of fieW
SarBtogb and Albany'Co
STATE OFRogistration SW,173
•
My Commission Expires
COUNTY OF ) SS:
On this day of May, 1999, before me, the subscriber,
personally appeared JOHN S. PANZA a/k/a Joseph Panza, to me known
and known to me to be the same person described in and who
executed the within instrument, and he acknowledged to me that he
executed the same.
Notary Public
•
uaiiK1529 431
. F }
q V
State ofNew York
ss:
County of Saratoga
On the 26th day of May in theyear 1999 before me,the and rsi 1 ,personally
!
the basis of
factory
r � Panza � ;� lltor �idual whose,name.is subscribtxl t � � x��� ,�instrumentted
evidenceut d the same in his capacity and
that by his signature
acknowledged�d to methat hebehalf � � individual, aero
on the instrument,the
individual,or the personupon
executedthe instrument.
Nb
tar+ Yublie
ALISA #DALTON
Notary PL.lihr: Stvii fpf blew York
uatIfwwt its ACunny County
Ragistrounr,41,.1 ,AP 1771
AA
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CIS J \4..- 1 g
•
EXHIBIT "B"
MUM'S BORDER'S PARCEL (395 BROADWAY)
1999 Declaration of Easements and Restrictions
/,-)
SARATOGA COUNTY CLERK
COUNTY CLERK'S RECORDING PAGE ---1)-eea. qtntli,e-i LI
RECEIPT NO. : 234363 BOOK OF DEEDS
BOOK 01529 PAGE 00439
NO, PAGES 22
INDEXED BY:
INSTRUMENT CODE: ESMR
SCANNED BY:
INSTRUMENT NO. : 0000870
RECORDING:
RECORDING PAPER FEES 74.00
EDUCATION FEE 5.00
DEEDS - EA-5217 0.00
FILING FEE 5.00
TOTAL: 84.00
*****NOTICE: THIS IS NOT A BILL*****
STATE OF NEW YORK TRANSFER TAX
SARATOGA COUNTY CLERK
Transfer Tax 0.00
RECORDED ON 09/09/99 AT 03:02 PM
Transfer Tax* 0000870
IN BOOK DEEDS PAGE 00439 OF 01529
Kathleen A. Marchione
SARATOGA COUNTY CLERK
THIS PAGE IS PART OF THE INSTRUMENT
qc1,03 307 2S
RECORDED. i 1IL 'WIG:a
DECLARATION OF EASEMENTS AND RESTRICTIONS
for property located in
Saratoga Springs, New York
1)Q.\Qr S ti It 11
krit
6-\40- 3 iLtLtvvWl ib(1 2cA
+cis Vitctims CQ1.
42_101?-- 1 7 77
E1.-1529 439 41g,
TABLE OF CONTENTS
ARTICLE PAGE#
Definitions 1
II. Easements
III, Construction 3
IV. Maintenance and Repair
V. Operation of the Parcels
VI. Miscellaneous
VII. Performance by Tenant 11
VIII. Term11
'13.Lr61.52,9 440
EXHIBITS
Exhibit A Legal Description of Borders Parcel
Exhibit B Legal Description of Adjacent Parcel
Exhibit C Legal Description of Easement Access Area
Exhibit D Prohibited and Restricted Uses
Exhibit E Site Plan
UNA1529 441
1 . 4 Parcel. "Parcel" shall mean either the Borders Parcel or the Adjacent Parcel.
1.5 Permittee. "Permittee" shall mean all owners and Tenants and the respective officers, directors,
and the employees, agents, contractors, customer, vendors, suppliers, visitors, invitees, licensees, subtenants,
and concessionaires insofar as their activities relate to a use Of the Building Areas of the Parcels which is not
prohibited pursuant to Section 5. 1 hereof -
Among others, Persons engaging in the following activities shall not be considered to be a Permittee-.
exbibiting any placard, sign, or notice, except as permitted by an Owner on its Parcel,
ii distributing any circular, handbill, placard, or booklet;
(iii) soliciting memberships, contributions or signatures-, and
(iv) parading, picketing, or demonstrating.
1.6 Person, "Person" shall m= any individual, partnership, firm, association) corporation, trust, or
any other form of business or government entity.
1.7 RecordingDf—fice. "Recording Office. shall be the land title office in the state in which the
Parcels are located where deeds, mortgages, liens or other filings with respect to the Parcels are P17Operl
y
accepted for filing.
1.8 Lenant. "Tenant"shall rnean any Person from time to time entitled to the use and occupancy
of any portion of a building located in either Parcel under any lease, sublease, license, concession, or other
similar agreement.
ARTICLE 11
EASEMENTS
2.1 Ingress and Egress -- Borders 'rel.
(A) The owner of the Adjacent Parcel bereby establishes for the use of Permittees of the Borders
Parcel in common with others eatified to use the same, a perpetual non-exclusive casement for pedestrian or
Vehicular access to and from Division Street to and from the Borders Paireet (the "Access Easement") over a
portion of the Adjacent Parcel as shown on Exhibit E. The legal description of the Access Easement area is set
forth in the attached Exhibit C.
(B) The Owner of the Adjacent Parcel shall notify the Owner of the Borders Parcel in writing at least
ten (10) days prior to the commencement of any reconstructions repairing or repaving of the Access Easemcnt,
and/or any restriction or closure of the Access Easement , and any such reconstruction, repairing or repaving shall
be accomplished to the maximum exteut possible during non -business hours so as to minlmLze the closure of the
Access Easement.
2
eo��1529 44:?
2,2 Restriclion. No Owner shall grant any easement for any of the purposes set forth in this
* the Parcel:&* provided, however, that the foregoing shall
Article H which would benefit any property not wl 1th'n 5 1 or
not prohibit the granting or dedicating of utility easements by an Owner on its parcel to governmental
or the relocation of existmg easements, if any, to
quasi -governmental authorities or to public utilities,
accommodate the development of the applicable Parcel
r dMded into two (2) or more or
2.3 Subdivisions of Parcel. In the event any Parcel is hereinafter 1 6
creels by separation of Owners, lease,, or otherwise, then any resulting parcels shall enjoy and be subject to
P
the benefits and burdens of the easement and all other terms and conditions of this Declaration; provided,
however? that if any such Owner transfer, convey or ground lease its interest in any portion of a Parcel
in such a manner as to create multiple Owners of a Parcel, then such multiple Owners shall designate
one of their numOw
ber to act on behalf of all such ners in the performance of the provisions f his
Declaration. Any such designation shall be in writing, duly executed and acknowledged by all multiple
sienated), and recorded with the Recording office. A copy
owners of a Parcel (including the Owner so de ,
of such designation shall be sent to each other Owner of the Parcels, In the absence of any such written, recorded
and mailed designation, the Owner of the largest sub arced of any such divided Parcel shall be the responsible
owner.
14 Nature mof Eq�eents. For purposes of the easements granted in this Article, the Parcel
benefitted by each easement constitutes the dominaut estate and the Parcel burdened by each easernent
Co- nstitutes the servient estate, Each easernent granted in this Article is appurtenant to and for the benefit
of the Parcel owned by the grantee of the easement. No easement may be transferred, assigned or
encumbered except as an appurtenance to the benefitted Parcel.
ARTICLE III
CONSTRUCTION
3.1 General ReaRiTe�nts-
b performed in
ctiAties performed by an Owner within its Parcel shall be perf
(A) All construction a i
compliance with this eclaration and all laws,
rules, regulations, orders, and ordinances of the city,
D
county, state, and federal governments7 or any department, or agency thereof, affecting improvements
constructed within either Parcel.
(B) The construction activitieS of the Owner of the Adjacent Parcel shall not obstruct or impede the
free flow of vehicular and pedestrian traffic over the Access Easement.
(C) Each owner shall defend., indemmify and hold har"ess the other Owner from all claims, actions
and proceedings aid costs incurred 'in connection therewith (including , without limitatile
on, reasonab
injury
attorneys' fees and costs Of suit) resulting froniany accident I mjury or loss or damage- whatsoever occurring
. k of or resulting froua the per Of MY
to any Person or to the property of any Person arismg out-mifying Owner.
I * 6 performed or authorized by such inden
construction activities
u .."I-
bu� 1-529 444
3
3,2 Parking. Areas.
(A) The parkm*g area within the Borders Parcel shall be reseTved for the exclusive use of Permittees
of the Tenants of the Borders Parcel. The owner of the Borders Parcel shall have the right 0 place t p signage on
e
the Borders Parcel indicating that all parking areas on the Borders Parcel are reserved for the use of customers
of Tenants of the Borders Parcel. The Owner of the Borders Parcel shall also have the right to employ parking
guards to enforce such restricted parking.
(B) The parking area within the Adjacent Parcel shall be reserved for the exclusive use of the
Per-mittees of the Adjacent Parcel. The aggregate area provided for parking of automobiles upon the Adjacent
Parcel shall be sufficient to accommodate not less than three (3) automobiles per one thousand (1,000) square feet
of leasable building space of all buildings located from time to time on the Adjacent Parcel which is not devoted
to a Restricted Use as set forth on Exhibit D.
ARTICLE IV
MAINTENANCE AND REPAIR
4.1 Utilities, The Owner of each Parcel. shall repair and maintain in first-class condition all
utility facilities, lines, and systems located on its Parcel that serve only its Parcel unless the same are
dedicated to and accepted by a public or quasi -public utility or authority,
4.2 Bmidim-Immovements -
(A) Each Owner sball, during the term of this Declaration, maintain and ketp the building
improvements located on its Parcel from time to the in first-class condition and state of repair, ill
compliance with all governmental laws, rules, regulations, orderst and ordinances exercising jurisdiction
thereof, and in compliance with the provisions of this Declaration,
M Lmprovements are damaged by fire or other casualty (whether
P In the event any of the building
insured or not) , the owner upon whose Parcel such building improvemclIts are located shall immediately
remove the debris resulting from such event and provide a sightly barrier and shah either:
0.) repair or restore the building u'nprovementS so damaged; or
erect other building improvements, provided all provisions of this Declaratioin are complied with;
or
demolish the damaged portion or all of such building improvements and have restored the, area to
an attractive condition until a replacement building is erected.
4
ARTICLE V
OPERATION OF THE PARCELS
5.1 Uses -
(A) Prohibited Uses. No portion of either Parcel shall be & occupied or used for any of the
in paragraph A i
of the attached Exhibit D, nor n violation of the restrictions apPlicable
Prohibited Uses set forth'
to the Restricted Uses as set forth in paragraph B of Exhibit D.
(B) Rorder's Exclusive. So long as Borders, Inc., or any affiliate ("Borders") is operating a retail store,
for the following specific uses within the Borders Parcel, no occupant or Tenant of the Adjacent Parcel shall from
tie space it OCCUPies on the Adjacent Parcel engage in (i) the sale of (a) books, (b) periodicals, (c) pre-recorded
video cassettes and/or pre-recorded music products such as records, tapes, and compact disks (the foregoing shall
also apply to any future format of such enumerated item} unless the subject matter of such items is directly
related and anc 111ary to the primary use a f such other tenant's or occupant's use (e.g. a computer store ►which sells
books or periodicals dealing with computer products) and not more than 100 square feet of surface display area
is devoted in the aggregate to the retail display of such related items, and/or (ii) the operation of a "coffee bar"
in any format, whether it is an incidental or primary use.
5.2 Ligh�tin The Parking Areas on each Parcel shall be fully illuminated each day from dusk to at
open for business in any of the buildings located on both
least I 1 -.00 p,m., or if earlier, the time wben no tenant is
Parcels.
5.3 Insurance.
(A) The Owner of each Parcel shall maintain or cause to be inaintallaed in full force and effect
Comprebensive General Liability and Property Damage lnsurance, insuring against injury to persons or property
D
occurring as a result of the use of such Parcel., with combined single limits of $5,000,000 per occurrence for
bodily injury and property damage. Sucb insurance shall be obtained from an insurance company or companies
licensed in the State of New York and maintaining a rating of "A4VIV or better by the then current edition of
Best's Insurance Reports published by A. M. Best Company. Additionally, such insurance shall include the
following minimum requirements- (i) shall provide that the policy may not be canceled or materially reduced
in amount or coverage without at least 30 days prior written notice by the insurer to the other Owner; 0i)
and shall include the other owner of the other Parcel and any Designated Tenant of such Parcel) as an Additional
Insured.
(B) The insurance referenced above may be carried by either the Owner or by any Designated
'errant thereof under:
(1) an individual poficyd, or
a b1maket. policy or policies which includes other liabilities, properties and locations of such
Owner or Tenant.
Mu'"'4529 446
5
Each Owner agrees to furnish or cause to be faral's . hed to any Owner requesting the same, a
Certificate(s) of insurance evidencing that the insurance reqUiTed to be maintained by such requested Cerner is
1 e ne
in full force and effect.
(C) The Owner, or Designated Tenantf either Parcel may satisfy insurance obligations hereunder
through a prograrn of self-insurance provided that such Owner or Designated Tenant maintains a net worth of
at least $200,000,000 during the period it provides such self-insurance.
s. F
5.4 Taxes ai2d Assess ach owner shall pay, or cause to be paall
id prior to delinquency,
and
taxes and assessments with respect to its Parcel, including, without limitation, the 'buildings
improvements located thereon, provided that if the taxes or assessments or any part thereof may be
paid in installments, the Owner may pay each such installment as and when the same becomes due and
in contained in this subsection shall prevent any Owner from contesting at its own cost and
payable. Noth* g Cont with respect to its Parcel in any manner such Owner elects, so long
expense any such taxes and assessments ranted In this
as such contest is maintained with reasonable diligence and in good faith. The easements g
Dtclarafion shall survive the imposition of any tax lien on the individual Parcels
5.5 Mutual indemnities. To the extent not expressly prohibited by law, the Owner of each Parcel (in
and indernm0y the other Owner and the other Owner's
either case, the "Indemnitor") agrees to hold harmless beneficiaries and employees (collectivelY, the
tenants, agents, partners? shareholders? officers, directom I ities imposed upon or
t k Indemnitees") from any losses, damages, jiAgments, claims, expenses, costs and Iiab'I un
incurred by orasserted against the Indemnitees, including, without limitation, reasowable attorney's fees and
expense --s for death or injury or dwnage to property that may arise from or be caused directly or indirectly by
any willful misconduct of Indemnitor or any of Indemnitor's
any negligent act of omission or conunission, or eding is brought against any of the
agents, partners, or employees or tenants. In case any action, suit or PrOcc
Inde=itees by reason of any such act of Indemnitor or any of Indemnitor' s agents or employees, then Indeamitor
will, at Indem-nitor's expense and at the option of said Indemnitees, by counsel reasonably approved by said
Indemnitees, resist and defend such action
ARTICLE VI
M,ISCELLANEOUS
6.1 Default.
(A) if any Owner fails to comply with any provision herein ("Defaulting Owner"), then the Other
Owner fou -defaulting Owner may, -upon thirty (3 0) days prior written notice to the Defaultin g Owner
of ovisions of Section 63 hereof have been met), proceed
(witb a copy to such Owner's mortgagee if the pr
to cure the default (and have a license to do so) by the payment of money or performance of some other actio,
for the account of the Defaulting Owner. The foregoing right to cure shatl not be, exercised if within the
res the default, of (il) if
thirty (30) day notice period: (i) the Defaulting Owner or its mortgagee cu
the default is curable, but cannot reasonably be cured within that time period, the Defaulting Owner or
its mortgagee begins to cure such default within such time period and diligently pursues such action
to completion. Notwithstanding the foregoing, any Owner or Tenant shall have the right to take I=ediate
action to enforce the rights granted under Section 2.1 hereof.
6 a��� �z9 X47
Ing copies of invoices
of wr-tten demand (including provid'
(B) Within ten (10) days I
reflecting costs and receipts evidencing payments of same) the Defaulting Owner shall reimburse tho
Non-Defaulting Owner for any sum reasonably upended by the Non-Defaulting Owner due to cure
the default, together with interest thereon at the Default Rate.
(C) The Default Rate shall be the lesser of, (j)three percent(3%) per annum -In excess of the
prime rate from time to time publicly aanounced by the WaU street Journal, or (H) the 'highest rate
permitted by law.
6.2 Estoppel Certificate. Each Owner agrees that upon written request (whichshall not be more
ar) tom tine to tune of the other Owner, it will
frequent than three (3) times during any calendar year
issue at no charge to a Tenant, prospective mortgagee of such other Owner, or to a prospective
successor owner to such other Owner, an estoppel certificate stating:
(A) Whether the Owner to whom the request has been directed lows of any default by any
Owner under this Declaration., and 'if there are known defaults, specifying the nature thereof.
(B) Whether, to the best of the requested Owner's knowledge, this Declaration as of that date
is in full force and effed; and
Whether, to the best of the requested Owner's knowledge, there are any sums owed by any
Owner.
Such statement shall act as a waiver of any claims by the owner furnishing it to the extent such
clairn is based upon facts contrary to those asserted in thestatement, however, sub statement Shall in no
event subject the Owner furnishing it to any liability whatsoever, aotwithstanding Lhe negligent or otherwise
inadvertent failure of such Owner to disclose correct and/or relevant informatiO-n.
6.3 Notices .
All notices, demands, statements, and requests ("Notice") required or permitted to be given under
this Declaration must be in writing and shall be deemed to have been property given or served ed three (3)
days after the, date the same is deposited in the United States mail, prepaid, by registered or certified mail,
return receipt requested or delivered to a private express package courier prepaid at the address set forth below.
In the event an Owner shall encumber its Parcel by a first mortgage and Notice of such fact has been given to the
other Owner, then a copy of any Notice directed to such mortgaging Owner shall also be sent to its first
mortgagee. Any notices shall be sent to:
If to Mapat: Mapat, LLC
Fourth Floor
Four Cathedral Paric
Buffalo, New York 14202
Bcrl%��29, ,
1 -1 448
U t --r ,
7
with a copy to: Peter S. Giffillan, Bq.
Gross Shuman Brizdle & Gilfillan, P.C.
465 Main Street
Suite 600
Buffalo, NY 14203
if to M,14.D.: M. H. D -, LLC
Fourth Floor
Four Cathedral Park
Buffalo, New York 14202
with a copy to, Peter S. Giffillan, Esq.
Gross Shunian Fri die & Giffillan, P.C.
465 Main Street
Suite 600
Buffalo, NY 14203
if to Borders: Borders, Inc.
(as the Designated 100 Phoenix Drive
Tenant of the Ann Arbor, Michigan 48104
Borders Parcel)
with a copy to: Phillip J, Bowen
Conlin, McKenney & Philbrick, P. C
350 S. Main Street, Ste. 400
Ann Arbor, IMichigan 48104
Any Owner shall have the right from
time to time and at any Ume, upon at least ten (10) days prior
written notice thereof in acc�ordance with the provisions hereof, to change its respective, address to direct that
nodes also be given to any Tenant of a Parcel (whose address shall also be, furnished) ; provided; however,
r,
itb standing anythilIg herein contained tot contrary, in order for the notice of address change to be
effective it must actually be received; and further provided such: address may not be a post office box.
The refusal of an Owner to an accept certified or TegiStered mail or of a private courier package delivery
service shalt be, deemed delivery on the date of such refusal.
b
Upon receipt of a written notice complYiRg with the provisions of this section 63 from a mortgagee
having an interest in one of the Parcels, the Owners agree that from and after such date a copy notice
of any
ce from a mortgagee must clearly state the Parcel in which
given will be sent to such mortgagee. Such n
oti
said mortgagee has an interest.
6.4 Bind!Ug V -'I CC his Declaration (i) are made for the direct, mutual and reciprocal
i _Lrrect. The terms of t equitable servitude on each Parcel in favor of
benefit of each Parcel, (ii) shall constitute and be enforceable as equ
the other Parcel, (Iii) shall constitute covenants running with the land within each Parcel, and (iv) shall be binding
upon any person or entity acquiring any fee, leasehold or oi
rather interest n a Parcel or any part thereof. The
terms of the Declaration shall inure solely to the benefit of, and shall be binding upon any Owner or Tenant
of a Parcel; provided that the respective Owners or Tenant from tim ' e to time of a Parcel shall be liable in money
damages and subject to the action for specific peki
rformance only for breaches of the undertangs contained in
this Declaration occurring during their respective periods of ownership of each Parcel, provided further that
with respect only breaches of undertakings hereunder whih occurred during the ownership of any
predecessor-m-fitle, any successor -in -title to either of the Parcels shall be subject only to an action for specific
performance. This Declaration is not intended to supersede, modif, amend, or otherwise change the
provisions of any prior instrument affecting the land burdened hereby.
6.5 Plural. Whenever required by the content of this Declaration, the singular shall include the plural,
and vice versa, and the masculine shall include the feminine and neuter genders, and vice versa.
6,6 Count ignature P This Declaration, and any amendMeDt, may be executed in
Several counterparts each of which shall be deemed an original. The signatures to this Declaration may be
executed and notarized on separate pages and when attached to this Declaration shall constitute one (1) complete
document,
6.7 ��of .partnershiT). None of the terms or provisions of this Declaration shall be deemed to
create a partnership between or among the Owners in their respective businesses or otherwise, nor shall it cause
6
members of any joint enterprise. Each Owner shall be considered a
them to be considered joint ventures oranother wn
xpressly
separate owner, and no Owner shall have the right to act as an agent for another unless e.
authored to do so herein or by separate written instrument signed by the Owner to be charged.
Not a bbtic Dedication. Nothing herein contained shall be deemed to be a gift or dedication of
any portion of any Parcel to the general public, orfOTany public use or purpose whatsoever. Except as herein
ivileges or immunity of any. Owner hereto shall inure to the benefit of any.
Specifically provided, no right, pr
specifically erson be deemed to be a beneficiary of any of the provisions
third. -party Person, nor shall any third -party P
contained he -rein.
6.9 Severa-WiLty. Invalidation of any of the provisions contained in this Declaration, or of the
application thereof to any Person by judgment or court order shall in no way affect any of the other provisions
hereof or the application thereof to any other Person and the sarae shall remain in full force and effect.
.10 Amendments. This Declaration may be amended by, and only by, a written agreement signed by
all of the then current Owners and shall be effective only whenTecorded in the recording Office.
6.11 Captions and C Terms. The captions preceding the text of each article and section are
11�italizg�L. - 4
inciuded only for convenience of reference. Captions shall be disregarded in the construction and interpretation
of the Declaration. Capitalized terms are also selected only for convenience of reference and do not necessarily
have any connection to the meaning that might otherwise be attached to such term in a context outside of this
Declaration.
Do ur 1, 529-; 450
9
6.12 Minimization of Damages - In all situations arising out of this Declaration, all Owners shall attempt
' and minimize the dmiages resulting from the conduct of any other Owner. Each Owner hereto shall take
to avoid
all reasonable measures to effectuate the provisions of this Declaration.
6. 13 Declaration Shall Continue Notwithstanding breach. It is expressly agreed that no breach of this
h Declaration; 12�
Declaration shall: (i) entitle any Owner to cancel, rescind, or otherwise terminate this De laratio ; or default
or render invalid the lien of any mortgage made 'M good faith and for value as to any portion of a Parcel.
However, such limitation shall not affect in any manner any other rights or remedies which an Owner may have
hereunder by reason of any such breach.
6.14 Time. Time is of the essence under this Declaration.
6.15 Npn-Waiyer. The failure of any Owner to insist upon strict performance of any of the terms,
covenantsor conditions hereof shall not be deemed a waiver of any rights or remedies which that Owner may
Dave hereunder or at law or equity and shall not be deemed a waiver of any subsequent breach or default in any
of s-uch terms, covenants or condition.
6.16 cment. Those easements designated as being perpetual or as continuing beyond the
term of this Declaration shall continue indefinitely but can be extinguished only by a written termination
agreement signed by all the Owners and their respective mortgagee.
6,17 Good Faith Lend Clause. No violation of any of the provisions of this Declaration shall defeat
or render invalid the lien of any mortgage made in good faith and for value upon any Parcel either prior to, or
subsequent to, the date hereof,, nor shall any lien created hereunder be superior to any such mortgage unless a
suit to enforce the same shall have been filed in court of record in Saratoga County, New York prior to the
recordation among the land records of Saratoga County, New York of such mortgage; provided, however, that
any Mortgagee in actual possession, or any purchaser at any trustee, mortgagee or foreclosure sale shall be fully
bourn d by and subject to the revisions of this Declaration as fully as any other Owner of any Parcel.
ARTICLE V11
PERFORMANCE BY TENANT
7.1 General. An
Owner of a Parcel (" Des ignating owner') may, by notice to The Owner of the other
Parcel, designate a Tenant ("Designated Tenant") of a Parcel as the party responsible for performing the
obligations of such Owner under this Agreement, and thereafter, such Designated Tenant shall have the benefit
of, and the right to enforce, all of the rights of the Designat�ng Owner under this Agreement, and shall perform
all of the obligations of, the Designating m
Owner under this Agrcetnt except as specifically identified in such
Notice. The designation by an Owner of a Designated Tenant shall not relieve such Owner from any
responsibility hereunder.
7.2 Qualification of Terrane. A Tenant may not be designated as a Designated Tenant pursuant to
Article 7.1 hereof' unless such Tenant is leasing all of the Parcel, and the provernents located thereon, from
the Designating Owner.
G ou""r -1. 5 2 9 451
10
ARTICLE V111
TERM
8.1 Term. This Declaration shall be effective as of the date first above written and shall continue in
full force and'effect until the earlier of 11-59 p.m. on December 31, 2055 or the date the Borders Lease
ion of this DeclaTation shall not limit or affect any remedy at
terminates -, providedl hove ver, that the termmat
law or in equity that an Owner may have against any other Owner with respect to any liability or obligation
arising or to be performed under this Declaration prior to the date of such ter mi -nation.
IN WITNESS WHEREOF, the parties hereto have caused this Declaration to be executed effective as of
the day and year first above written.
In the Presence of:
STATE OF NEW YORK
COUNTY OF
Mapat, LLC,
liability c an
a New York limited fiabffity c
By :
/I
Its - Z 1
M.H.D., LLC
a New York Kited liability compan-,
f.
75�
By:
Its -
I do hereby certify that on this I day of July, 1999, before me, a Notary Publ'I
c, in and for said
County and State,, personally appeared A46 -6j- At the Aye of Mapat, LLC, a New York
limited liability company, who acknow . ledged that he did sign the foregoing instrument and that the same is his
dee act and deed and the free act and deed of said Akt%j
u a u K 1 -,5- - ?" 9 452,
1I
In Witness Whereof, I have hereunto set my hand and affixed my official seal the day and year in this
certificate first above written.
Notary Public
STATE OF NEW YORK
COUNTY OF e��-_i_G
c!cHZ> kjiLrILLtn 9
ojo w ry F ublic - State fj i N ear Y 0 P.k'
Oudified in Brie County
NN Commission f---Xpry Nov 30 61�
SS
I do hereby certify that on this d I day of July, 1999, before me, a Notary Public in and for the County
and State aforesaid, and duly commissioned, personally appeared /�t e to be
known to m
the /YL�LO�nf- — of
I.D. LLC, a New York limited liability company, who, being by me duly sworn,
did depose a�d say that, on behalf of said cw
orporation and by authority of its bylas, he signed, and delivered
said istrument for the uses and purposes therein set forth, as his free and voluntary act; and that he signed his
name thereto by like order.
in Witness Whereof, I have her set MY hand and affixed my official seal the day and year in this
certificate first above written.
Notary Public
C- _1
jq0jpry Public state ofNeav "I
C) Lj al If i Ede CID 0 RtY
w Go MmIsicon Expires N ov 30,
Prepared by ,'end when recorded rerun to:
Phillip J. Bowen
Conlin, McKenney & Philbrick, P.C.
350 S. Main Street, Ste, 400
Ann Arbor, MI 48104
H. kPl B 1 B C) R -D E RS \ S A RA TOGA S p RfN6 SSAG MT\ D EC 1. A RAT [ON. 2. W PD
12
9
clo-�1-52453
U - L.11
EXHIBIT 5
LEGAL DESCRIP ' F LANDS
OF
HI .D., LLD and MAAT, LLC
TO BE KAD To BORDERS, INC.
ALL THAT CERTAIN TRACT, PIECE OR PARCEL
in the City of Saratoga Springs inside district
Saratoga, State of New York, lying on the westerly
Broadway, on the southerly side of Division Street
bounded and described as follows
OF LAND situate
Counter of
side of
and further
BEGINNING at the point of intersection of the southerly
11ne of Division Street with the westerly Line of Broadway and
runs thenca from said point of beginni
EXHIBIT
LEGAL DESCRIPTION of ADJACENT PARCEL
OWNED BY MAPATe LLC
ALL THAT CERTAIN TRACT , PIECE OR PARCEL of LAND situate
in the City of Saratoga Springs inside district), County of
Saratoga, State of New 'fork, lying on the southerly side of
Division treat, westerly of Broadway sand being further bounded
and described as follows
BEGINNING at a point cn the southerly 1 ne of Division
tre ti, said point being situate North ° 27' 00" West t 300900
feet from the intersection ection of said southerly line of Division
Street with the westerly line of Broadway and runs thence from
said paint of beginning through the lands of MAPATP LLC, as
described in Book 1481 of Deeds at Fags 488 the following two
courses: 1 South 30' 341 0011
Westf, 84.21 feet to a point; and
South 06* %152' "' West, 49.78 feet to a point; thence along
the common 11ne of the aforesaid lands of MAPAT,, LLC, on the west
and the lands now or for erl.y of Frank S. and John S. Panza, o
the east'. as described in Book 1048 of Deeds at Page 821, South
° 4' 00" West 1 . feet o a alntthence along the e
line of the aforesaid lards of MAPAT , LLC, on the north and the
lands of Bethesada Episcopal, on the south, North 840
6' "
west{ 22.16 feet t o a point; thence alon the common line of the
aforesaid lards of MAPAT, LLC# on the north and east, and the
.ands now or formerly of the County of Saratoga Industrial.
Development Agency, on the south and west , as described in Book
1400 of Deeds at Page 199 the f of to ring two courses 1 North
271 00" Wert, 127.14 feet to a point.' and 2) North 0* '
o" East, 339.06 feet to a pa±nt on the aforBsa±d southerly line
of Division tree ; thence along said southerly line South 9'
271 00" East, 127.24 feet to the point and place +e f beginning and
containing 1 . o ± acres of land
L JECT to an easement for ingress and egress lying on
the southerly side of Division St keet and being further bounded
and described as follows:
BEGINNING at a point on the southerly line of Division
Street, said point being situate NorTh 271 00" West F 300-0
Feet from the point of interseCt4on of said southerly lire o
Division Street Frith the westerly lire of Broadway and runs
thence from Bald pont of beginning through the lands of I APRT ,
LLC, as described in Book 1481 of Deeds at Page 488 the following
five courses: 1 south. 4' 00" west, 84.21 feet to a
point; 2 South " West, 49.78 feet to a point;
{ North 716 161 2" West, 20t44 feet tc a point;(4) North 060
' 5" East, 49.78 feet to a point; andNorth 300 4' o"
Eastor 88.40 feet to a point on the aforesaid southerly line of
Division Street; thence along saal.d southerly line South ° 27'
00" East, 20,00 feet to the point or place of beginning.
Also SUBJECT to an eae"' for ingress and egress
lying on the southerly side of Division Street and being further
bounded and described as follows:
BEGINNING at a point on the southeriy line Of Division
Street, said point being situate, North 590 1 00" West, 300,00
feat from the point of intersection of said southerly line of
Division Street with the westerly line of Broadway and runs
thence from said point of beginning through the lands of MAPAT,
LLC, as described in Book 1481 of Deeds at Page 488 the following
1) South 309 341 00" West, 84,21 feet to o
point,* andSouth 060 " Wept, 49.78 feet to aoint &
thence along the common lire of the aforesaid Lands of KApATr
LLC, on the west and she lands now or formerly of Frank S. and
John S. Panza, on the east, as described in Book 1048 of Deeds at
Page 821, South 301 341 00" West, 199.73 feet to a point; thence
along the common Lime of the aforesaid lands of MAPAT, LLC, on
the north and the lands of Bethesada Episcopal, on the south f
North 840
561 " West 22.16 feet to a point thence through the
aforesaid lands of MT , LLC the following three ( ) courses
Nor 1 00" East il 205.08 feet to a point v Nosh 060
52' " East, feet to a point; and North 1 "
East 68.40 o free to a point on the aforesaid southerly line o
Division Street; thence along said southerly line, South
o it East, 20.00 feet to the point and place of k in i
F
EXHIBIT D
Prohibited and Restricted Uses
A. The following uses shall be Prohibited Uses within either Parcel:
I flea market y business is selling merchandise that is used, daTnaged or
I scrap whp
ap shopOT "outlet store" ose. rimar
discontiDued
3. bowling alley
4. arcade
5. game roorn
6. skating rink
7. billiard room
8. massage parlor
9. adult book store
10. ballroom, dance hall, discotheque
11, barber college
12. theater
13. f-uneral parlors
14, facility for the sale of paraphernalia for use with illicit drugs
15. off-track betting parlor
16, carnival, amusement park or circus
17. new or used car dealership
18, gas station
19. auto repair shop of the revenues are generated from the sale of alcoholic
20. bar, tavern or pub where more than 50 %
beverages
B The following uses shall be Restricted Uses within either Parcel, and may be engaged in only if the
following parking lot ratios are met.
Required
Nature of Use P Ratio
restaurant for on premises consumption
where more than 50% of the revenues
are derived from the sale, of food or
beverages other than alcoholic beverages
one parking space for each 4 seats contained
in a full service restaurant (I", e, I a restaurant whose
primary business is the sale of food for on
prernises consumption) and one parking space for each
3 seats contained in a fast food restaurant (i.e., a
restaurant whose primary business is the sale of food
Reins for both on premises and off premises
consumption)
2. -health club or place of instruction,
readingrOOM OT any other operation
catering primarily to students or trainees
rather than to customers
3. grocery store
5 parking spaces per 1X000 square feet devoted to
such use
5 parking spaces for each 1,000 square feet of Space
devoted to such use
D-2
EXHIBT E
Site Plan
M Oft MO 4-d '4 im km U%Lw—&" -an ROO WR k t ax
a,
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N OUD
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EXHIBIT 64CII
1 M ISI 'S OWNERSHIP ACCESS EASEMENT AREA
2004 Deed
Saratoga County
COUNTY CLERK'S RECORD119G IpAr&Z
RECEIPT NO. -839750
INDEXED COY.Q w\
SGA] NED BY:
RECORDING:
Cost Filing Fee fRCD Deed)
5.C-0
Cover Sheet Fee (Deed?
10.co
EA5217 Fee
50.CCI
Education Fee
20.CO
TP584 Fee (Filing Fee)
5.1-.0
Transfer Tax Fee
9,200 -CO
Markoffs
Names
Pages
9,CO
TOTAL:
9 r 2 9 9. C-:0
*****NOTICE, THIS IS
NOT A BILL **"**
BOOK OF DEEDS
BOOK 01688 PAGE 00402
NG. PAGES 2
INSTRUMENT CODE: [AFM
IN9TRUMENT NO,; 20D4DS835
STATE OF NEW YORK TRANSFER TAX
SARATOGA COUNTY CLERK
RECORDED ON 07/15/2004 AT 08:55:00 Transfer Tax 9,200.00
IN BOOK OF DEEDS PACE 00402 OF 0168El Trans 4-er Tax # 200408835
Kathleen A. Marchione
SARATOGA COUNTY CLERK
THIS PAGE IS PART OF THE INSTRUMENT
Bargain and Sale Deed with covenant
against grantOT's acts
'15is Indenture. ade,h, ��_" day, of 'u, 2004
Between PAT, 1,LC
Four Cathedral Park, 4th Floor
Buffalo. New York 14202
party of the first part, and
10 DIVISION STREET OFFICES LLC
513 Broadway
Saratoga Springs, NeNv York 12066
part Qf the second part,
07/15/90N 9:5151 Ah
M408835
�jritogjj Dounty Clerk
Witncssetb, that the paqv oj'thefirst part, in consideration cif 'Ten Dollars and other
valuable consideration paid by the paro, oj'the second part. does hereby grant and release unto the
party of the second part, the heirs orsuccessors grad aysigns oj'the paqy (?f the second part, jorever.
ALL that ceriain plot, piece or parcel t ' P-I'land, with the buildit�,Us and improvements
thereon erected, sit nate, lypin g and being describeci on Schedule A attached hereto and made a part
hereof
TOGETHER with all right, title and inter -est, �fany, q the party q the firsi part in and to any
streeis and roads abutting 1h( , above described premises to the center lines thereqf- TOGETHER
wiih the appurtenances and all the estafe and rights ofthe pari.y qfthefirst part in and to said
premises,- TO HA VE AND TO HOLD the preinises hereranled unio the party qf1he second
part, the heirs or successors and ass 1"qns qfhe paqv of the seeond parifibrever.
AND the part ' y of the firsi pari covenants that the party v qfthefirsl part has not done or sufj&red
anything whereby the saidprhave
emises been encumbered in any way whatever, except as
aforesaid.
AND the party qfthefirsi part, in compliance with Section 13 of (he Lien Law, covenants that the
party qf thefirst part will receive the consideralionfior this conveyance and will hold the riqhl to
receive such consideration as a trustfinid io be appliedfirsifior the purpose ofpaying the cost qf
the improvement and will qpp�v the samefirst to the payment ql'the cosi of the improvenzent before
using any part of the total of rhe .sure or uny wher purpose. The word "parry " shall be construed
as if it read ` arties " whenever the sense qflhis indenture so requires.
IN WITNESS WMEREOF the pf irf.v of thc fir -a pari has chdy exe-cuted this deed the dcty
andyear first above written.
State of New York)
County f'Erie ) ss:
AMPAT, L-(-
0"011 ze L
Bi-- - - - - - - - - - -
M
Mj�r'dn Un M"� nag r
Bv
Andrew M. Hunt, na, ei
1-'
On the 1,-) day of Ane. in the year 2004, hfhry rt e$ the unders-fgned. a notary public in
and. for said slate, personally appeared i* 17RON11 HUNT (Ind ANDREW Af HUNT personally
known to me or proved to me on the bas is qfsati,�ffictory e vidence to be the individual(s) whose
name(s) arelis subscribed to the within instrument and acknowledged to me that helAelthev
executed the same in hislherltheir capacii M
' v, and ai kv hislher/their signaturm
e(s) on the instruent,
the individual(s), or the person(.�) upon behalf e# 'which the inoiv idual(s) acted, exevul( ,d the
instrument.
%0Z f`
Doc #: 1636,8 1 3 A,
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5
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F,
A, rxrnmisi!- C-4:)-ce- N'Ov ver
Title No. NVR 04-2372
Scheduie A
ALL THAT CERTAIN TRACT, PIECE OR PARCEL OF LAND situate in the City of
Saratoga Springs (Inside District), County of Saratoga, State of New York, lying on the
southerly side of Division Street, westerly of Broadway, and being furthcr bounded and
described as follows:
BEGINNING at a point on the southerly line of Division Street, said point being situate North
59" 27' 00" West, 300.00 feet from the intersection of said southerly line of Division Street with
the westerly line of Broadway, and runs thence, from said point of beginning, through the lands
of Mapat, LLC, as described In Book 1481 of Decd at Page 488, the following two (2) courses
and distances:
1.) South 30' 34' 00" West, 84,21 feet to a point; and
2.) South 0611 52' 35" West, 49.78 feet to a point;
thence, along the common line of the aforesaid lands of Mapat, LLC, on the west, and lands
now or formerly of Frank S. Panza and John S. Panna, as described in Book 1048 of Deeds at
Page 821, on the cast, South 3011 34' 00" West, 199,73 feet to a point; thence, along the
common line of the aforesaid lands of Mapat, LLC, on the north, and the lands of Bethesda
Episcopal, on the south, North 84' 56" 02" West, 22.16 feet to a point; thence, along the
common line of the aforesaid lands of Mapat., LLC, on the north and east, and the lands now
or formerly of the County of Saratoga Industrial Development Agencv, as described in Book
1400 of Deeds at Page 1997 on the south and west, the following two (2) courses and distances:
1. North 59' 57' 00" West, 127.14 feet to a point; and
2.) North 300 33" 00" East, 339-06 feel: to a Point On the aforesaid Southerly line of
Division Street,
thence, along said southerly lime, South 591 27' 00" East, 127.24 feet to the point and place of
beginning, and containing 1-09± acres of land.
SUBJECT TO an easement for ingress and egress, lying on the southerly side of Division Street,
and being further bounded and described as follows:
BEGINNING at a point on the southerly line of Division Street, said point being situate North
59' 27' 00" West, 300,00 feet from the intersection of" said southerly line of Division Street with
the westerly line of Broadway, and runs thence, from said point of beginning, through the lands
of Mapat, LLC, as described in Book 1481 of Deeds at Page 488, the following five (5) courses
and distances:
1. South 300 34' 00" West, 84,21 feet to a point;
Continued On Next Page
Title No. NVR 04-2372
Schedule A (Continued)
2.) South 06o 52' 35" West, 49.78 feet to a point;
3.) North 71" 16' 421" West, 20.44 feet to a point;
4.) North 06" 52' 35" East, 49,78 feet to a point-, and
5.) North 301 34' 00" ]last, 88.40 feet to a point on the aforesaid southerly line of
Division Street,
thence, along said southerly line, South 59' 27' 00" East, 20.00 feet to the point or place of
beginning.
ALSO SUBJECT TO an easement for ingress and egress, lying on the southerly side of Division
Street, and being further bounded and described as follows:
BEGINNING at a point on the southerly line of Division Street, said point being situate North
591 27' 00 " West, 30 x, 00 feet from the intersection of said southerly line of Div i sion Street with
the westerly line of Broadway, and runs thence, froin said point of beginning, through the lands
of Mapat, LLC, as described in Book 1481 of Deeds at Page 488, the following two (2) courses
and distances:
1.) South 30' 34' 00" West, 84,21 feet to a polInt; and
2.) South 061 52' 35 q West, 49,78 feet to a point;
thence, along the common line of the aforesaid lands of Mapat, LLC, on the west, and lands
now or formerly of Frank S, liana and John S. liana, as described in Book 1048 of Deeds at
Page 821, on the east, South 300 34' 00" Wegg, 199.73 feet to a point; thence, aloe the
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e
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comon line of the aforesaid lands of Mapat, LLC, on the north, arid the lands of Bethesda
Episcopal, on the south, North 840 56" 02" West, 22.16 feet to a point; thence, through the
aforesaid lands of Mapat, LI -C, the following three (3 courses courses and distances:
I -) North 300 34' 00" East, 205.08 feet to a point;
2.) North 061, 52' 35 " East, 49.78 feet to a point; and
3.) North 301 34' 00" East, 88.40 feet to a point on the aforesaid southerly line of
Division Street;
thence, along said southerly line, South 59' 27' 00" East, 20.00 feet to the point or place of
beginning.
Subject to easements and restrictions of record
04A