Riverside Abstract, COMPANY

3839 Flatlands AvenueSuite 208

Brooklyn, NY 11210

Tel: (718) 252-4200 Fax: (718) 252-4226

OWNER’S/BORROWER’S AFFIDAVIT OF TITLE -CORPORATION

STATE OF NEW YORK, COUNTY OF:TITLE NUMBER:

, (hereinafter“Premises”)

The undersigned, being duly and severally sworn, deposes and says:

  1. (hereafter “Company”), is a Corporation duly organized under the Laws of the State of New York, and has a business address at .
  2. The Company is active and in good standing with the Secretary of State of New York and has never been suspended or revoked. The Company is authorized to engage in lawful business activities it is otherwise permitted to engage in.
  3. The Company’s Employer Identification Number is:
  4. The Company has never conducted business or engaged in any activities under a name other than the name stated in Article 1 of this Affidavit and has never filed for or used a DBA.
  5. The By-Laws of the Company have not been modified or amended and there has been no change in the composition of the Company since its formation.
  6. The actions described below in this Affidavit, and the execution of this Affidavit, have been duly authorized by a proper resolution of the Directors of the Company (copy attached hereto and made a part hereof).
  7. The Company has paid all state and federal taxes presently due.
  8. The Officers/ Directors of the Company are:

, President, Director

, Treasurer, Director

, Secretary, Director

AUTHORIZED OFFICER

  1. I, , am the CEO/ CFO/ Secretary/ Director (hereafter “Authorized Officer”) of the Company and I am fully familiar with the business of the Company.
  2. I have full authority to act on behalf of the Company, specifically including, but not limited to, the authority to execute the mortgage, deed, and any other closing documents on behalf of the Company, pursuant to its By-Laws, and latest Resolution of Shareholders and Resolution of Directors.
  3. I am a citizen of the United States and at least 18 years old.

PREMISES

  1. I know of no liens or mortgages (recorded or unrecorded) which will affect the Premises other than those referenced in the Title Report prepared by the Title Company(hereafter “Title Report”). I have not executed any instrument that is not disclosed by the above referenced Title Report.
  2. There are presently tenants occupying the Premises. Each of said tenants either (a) is in possession under a lease containing a standard subordination clause fully subordinating said lease to all existing and future mortgages, or (b) is a statutory tenant. No tenants have any option to purchase or right of first refusal granted to them, nor any unrecorded conveyance. There are no other parties in possession of the Premises, other than the aforementioned.
  3. Ownership of the Premises has been peaceable and undisturbed and I have no knowledge of any other parties’ claim to an interest in the Premises. There has not been any dispute with any neighbor with respect to the location of any structures on the property lines. The structures have been in existence in their current condition for at least two years. There are no actions pending affecting said Premises.
  4. I have read and familiarized myself with the Judgment, Bankruptcy, Federal Tax Lien, and Warrant returns listed in the Title Report. The returns, if any, listed in said report are not against the Company.
  5. No proceeding in Bankruptcy has been instituted by or against the Company under any name, in any court or before any officer of any state or the United States and that there are no judgments or Federal Tax Liens against the Company in any jurisdiction other than those listed in the title report.
  6. There are no Parking Violations Bureau Judgments, Environmental Control Board Liens, ECB Fire Liens or Transit Adjudication Bureau Judgments against the Company except for those referred to in the Title Report.
  7. There are no unpaid taxes, assessments, water charges or sewer rents against the premises now due and owing other than those listed in the title report.

POWERS AND PRIVILEGES

  1. TheCompany is the only owner of Premises. The Premises is to be mortgaged by the Companyto[insert name of Lender].
  2. This sale was approved by Minutes of a Meeting or Written Resolution of the Board of Directors/ Shareholders of the Company, a copy of which is attached hereto.

RELIANCE

  1. The Company makes this Affidavit in order to induce the Buyer(s) or the Lender to accept its Deed or Mortgage. It is aware that the Buyer(s) or the Lender will rely on the statements made in this Affidavit and on its truthfulness.
  2. FOR CITY ON NEW YORK ONLY. To the best of my knowledge,
  • there has been no work performed at the Property by the City of New York, or any demand made by the City of New York for any such work that has or may result in charges/liens by the NYC Department of Rent & Housing Maintenance Emergency Repair, the New York City Department of Health or the New York City Department of Environmental Protection.
  • there are no street vaults, or if there are street vaults, any and all vault taxes have been paid to date

This affidavit has been executed and delivered in order to induce the Title Company to remove certain possible exceptions to title set forth in the Title Report and to issues its policy of title insurance covering the Premises knowing that it will rely on the statements made herein.

______

By: ,By: ,

Title: Title:

State of New York)

County of )ss.

On this day of , 20 before me, the undersigned, personally appeared , personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their signature(s) in the instrument, the individual(s) or the person(s)/entity(ies) on behalf of which the individual(s) acted, executed the instrument.

______

Notary Public

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