The Rules and Regulations
1. Condition of Premises: Supplementing Section 3.4, Licensee hereby accepts the Premises in the condition which shall exist on the Commencement Date “as is” and further agrees Landlord shall have no obligation to perform any work or make any installations in order to prepare the Premises for Licensee’s occupancy, except to the extent, if any, specified on Exhibit A to this Appendix.
2. Cleaning: Supplementing the provisions of Section 1.2 of the Annexure, Licensee agrees to clean, on a regular basis in a manner reasonably acceptable to Landlord, the exterior of all windows on the ground floor of the Building and any door(s), any exterior signs, and the storefront and exterior walls of the Premises (notwithstanding that Landlord has not provided to Licensee any rights in or to the exterior of such windows, doors, signs, storefront or the exterior walls of the Building). Licensee shall dispose of Licensee’s refuse and rubbish at regular intervals as directed by Landlord, and shall provide extermination in the Premises whenever there is evidence of any infestation, and on a regular basis agreed to by Landlord if the Permitted Use is a food use.
3. Use Restrictions:
a.Licensee agrees that neither food nor alcohol will be sold to, prepared for, served to, or consumed by Licensee’s
customers in the Premises, unless specifically permitted under the Designated Use.
b.In no event will any guns or weapons be stored, sold, or otherwise be in the Premises.
c. Licensee is prohibited from using the Premises in any manner which, in Landlord’s judgement, adversely affects or
interferes with the economical rendition of any services Landlord is required to furnish to Licensee or any other tenant or occupant of the Building, or the use or enjoyment of any part of the Building by any other tenant or occupant, or which impairs the character or dignity of the Building.
d.Licensee will not permit lines of customers or prospective customers to form anywhere outside of the Premises in a manner which (x) unreasonably interferes with pedestrian traffic in and around the Building, (y) obstructs access to the Building or the subway entrance, if any, located adjacent to the Premises, and/or (z) otherwise violates any Legal Requirements.
e. Licensee is prohibited from soliciting business by means of handbills or similar methods in or about areas adjacent to the Building, including the sidewalks thereof.
f. Licensee will not permit any employees or customers to congregate in front of the Premises or the Building, or allow noises, vibrations or odors from the Premises to be detected outside of the Premises.
g.Licensee will not permit pets or animals to reside in Premises overnight or while premises is not open for business.
4. Compliance with Law: Licensee will use the Premises in accordance with, and not violate, all applicable laws, ordinances and regulations, which include, without limitation, all present and future laws, codes, ordinances, statutes, requirements, orders and regulations, ordinary and extraordinary, foreseen and unforeseen, of any Governmental Authority (hereafter defined) and all directions, requirements, orders and notices of violations thereof. The term “Governmental Authority” means the United States of America, the State of New York, the County of New York, the Borough of Manhattan, the City of New York, any political subdivision thereof and any agency, department, commission, board, bureau or instrumentality of any of the foregoing, now existing or hereafter created, having
jurisdiction over Landlord, Licensee, or the use of the Premises.
5. Trade Name: Licensee will operate the store in the Premises only under the trade name _____(Please provide)____,
and will continuously operate the same 7 days per week during the Designated Hours.
6. Deliveries: Licensee will cause all merchandise and boxes to be delivered and unloaded through the route designated
7. Supplementing Section 1.10 of the Annexure, Licensee shall not store anything in any service corridor.
8. Signage: Licensee will not install, erect or display any signs on the exterior of the Premises or on the Building without
Landlord’s prior written consent. Landlord shall have the right to prohibit any advertising which, in Owner’s opinion, tends to impair the reputation of the Building or its desirability as a building for offices or high end residences and upon notice from Landlord, Licensee shall refrain from or discontinue such advertising.
9. Assignment: Supplementing the provisions of Section 1.6 of the Annexure, a sale, pledge, transfer or other alienation of a controlling interest in (a) any of the issued or outstanding capital stock of any corporate Licensee or guarantor
(unless such stock is publically traded on a recognized security exchange or over the counter market) or (b) the equity in any partnership, limited liability company or joint venture or other business entity comprising Licensee or guarantor, however accomplished, directly or indirectly and whether in a single transaction or in a series of related and/or unrelated transaction, will be deemed an assignment of this Agreement which requires the prior consent of Landlord in each instance.
10. End of Term: Landlord will have no liability, personal or otherwise, in connection with its exercise of the rights set forth in Article 2 of the Annexure. Licensee’s obligations under Section 1.16 include delivering the space vacant and free of any occupancies and rights of third parties. Licensee hereby expressly waives for itself and for any person claiming through or under Licensee any rights which Licensee or any such person may have under the provisions of Section 2201 of the New York Civil Practice Law and Rules, or any successor law of like import then in force in connection with any holdover summary proceedings which Landlord may institute to enforce the provisions of Section 1.16 and Article 2 of the Annexure and Section 10 of this Appendix. Even if the date upon which the Term shall expire, terminate or end falls on a Sunday or holiday, then Licensee’s obligations under Section 1.16 of the Annexure will be performed on or prior to the Sunday or holiday. Licensee’s obligations under Section 1.16 and Article 2 of the Annexure and Section 10 of this Appendix shall survive the termination of the Agreement.
11. Insurance: Supplementing the provisions of Section 1.19, Licensee will obtain and maintain insurance covering its property in the Premises in accordance with the requirements set forth on Exhibit B, attached hereto and made a part hereof. Supplementing Section 3.1, (I) Licensee will obtain and maintain, in Licensee’s casualty and other insurance policies covering Licensee’s personal property and other property of Licensee in the Premises, so called “waiver of subrogation” provisions to the effect that such policies will not be invalidated should the insured waive, in writing, prior to a loss, any or all right of recovery against any party for loss occasioned by fire or other casualty, and (II) Licensee hereby waives (and agrees to cause any other permitted occupants of the Premises to execute and deliver to Landlord written instruments waiving) any right of recovery against Landlord, any lessors under any ground or underlying lease, the holders of any mortgage, and all other tenants or occupants of the Building, and any servants, employees, agents or contractors of Landlord, or of any such lessor, or holder or any such other tenants or occupants, for any loss occasioned by fire or other casualty.
12. Indemnification: Licensee agrees that any indemnity to Landlord set forth in the Annexure includes, without limitation, reasonable attorneys’ fees and expenses, and such indemnity shall run to Landlord and Landlord’s Indemnitees. The term “Landlord’s Indemnitees” refers to the shareholders or members or partners comprising Landlord and its and their partners, members and shareholders, officers, directors, employees, agents (including without limitation, any leasing and managing agents) and contractors together with (x) the lessor under any superior lease and (y) the holder of any mortgage on the Building. Clause (b) of said Section 1.17 of the Annexure, is modified to refer to any breach of Licensee’s obligations contained in “this Agreement”.
13. Access: Notwithstanding the language set forth in Section 1.20 of the Annexure, Landlord and Landlord’s Indemnitees will be permitted to enter the Premises upon reasonable notice to Licensee (other than in an emergency, when no notice shall be required), which notice may be oral, mailed, delivered or left of the Premises, for purposes of inspection and for any other reasonable purpose. Landlord and its agents will have the right to permit access to the Premises, whether or not Licensee is present, to any receiver, trustee, assignee for the benefit of creditors, sheriff, marshal or court officer entitled to, or reasonably purporting to be entitled to, such access for the purpose of taking possession of, or removing, any property of Licensee or any other occupant of the Premises, or for any other lawful purpose, or by any representative of the fire, police, building, sanitation or other department of the City, State or Federal Governments. Neither anything contained in this Section 13 nor any action taken by Landlord under said Section shall be deemed to constitute recognition by Landlord that any person other than Licensee has any right or interest in this Agreement or the Premises. The exercise of any right reserved in this Section 13 and in Section 1.20 of the Annexure will not constitute an actual or constructive eviction, in whole or in part, or entitle Licensee to any abatement or diminution of rent, or relieve Licensee from any of its obligations under this Agreement, or impose any liability upon Landlord, or its agents, or the lessors under any superior lease and the holders of any mortgage, by reason of inconvenience or annoyance to Licensee, or injury to or interruption of Licensee’s business, or otherwise.
a. In the event that the Building or the Premises shall be damaged by fire or other casualty, Landlord shall have no obligation to repair such damage, and this Agreement shall remain in full force and effect, subject to the provisions of this Section 14. The foregoing notwithstanding, if as a result of a fire or other casualty not caused by Licensee, Licensee shall be unable to use all or substantially all of the Premises (and shall cease to so use the same), and Landlord shall not have repaired the damage to the core and shell of the Building, the envelope of the Premises and made repairs so Landlord can provide the services it is required to provide hereunder such that all or substantially all of the Premises can be used within two (2) months after Licensee has notified Landlord of its inability to use the Premises, then Licensee shall have the option, by notice to Landlord within five (5) days after the initial two (2) month period, to cancel this Agreement and the Term, in which event this Agreement and the Term shall terminate and be of no further force and effect as of the date of such notice and except for those obligations which survive expiration of the Term, neither party shall have any further obligation or liability under this Agreement for any period after such effective termination date, except that Landlord shall return a pro-rated portion of the Rent, prorated from the date of such fire or other casualty to Licensee, within thirty (30) days thereafter. If the entire Premises shall be rendered untenantable by reason of any damage due to any fire, the Rent shall abate for the period from the date of such damage to the date when such damage to be repaired by Landlord shall have been repaired, and if only a part of the Premises shall be so rendered untenantable, the Rent shall abate for such period in the proportion which the area of the part of the Premises so rendered untenantable bears to the total area of the Premises, but taking into account and making an equitable apportionment to account for the extent to which the Rent is allocable to the space below the ground floor. However, if, prior to the date when all of such damage to be repaired by Landlord shall have been repaired, any part of the Premises so damaged shall be rendered tenantable and shall be used or occupied by Licensee or any person or persons claiming through or under Licensee, then the amount by which the Rent shall abate shall be equitably apportioned for the period from the date of any such use or occupancy to the date when all such damage shall have been repaired.
b. Notwithstanding anything contained in this Agreement to the contrary, in the event that (i) the Premises shall be materially damaged or (ii) the Building shall be damaged by fire or other casualty (whether or not in such instance the Premises shall be so damaged) and Landlord shall need the Premises (or a portion thereof) in connection with or as result of such event, then at Landlord’s election by notice to Licensee, this Agreement and the Term shall terminate and be of no further force and effect as of (x) the date of such fire a casualty, if the Premises was damaged thereby such that all or substantially all of the Premises could not have been used, or (y) otherwise, as of a date set forth in Landlord’s notice, and except for those obligations which survive expiration of the Term, neither party shall have any further obligation or liability under this Agreement for any period after such effective termination date, except that Landlord shall return a pro-rated portion of the Rent, prorated from the date of termination to Licensee, within thirty (30) days thereafter. If a substantial part of the ground floor portion of the Premises shall be acquired or condemned by any legal authority or for public use or purpose in which event the License granted hereunder shall terminate upon a notice by Landlord to Licensee terminating this Agreement and the Term as of the date of such taking.
15. Subordination: This Agreement and all of Licensee’s rights hereunder are subject and subordinate in all respects to all ground or underlying leases now or hereafter in effect and to all mortgages which may now or hereafter affect such leases and/or the Building and/or the plot of land upon which it stands, and to all advances made or hereafter to be made under such mortgages, and to all renewals, modifications, consolidations, correlations, replacements and extensions of, increases to and substitutions for, such leases and mortgages. Licensee acknowledges that the Premises are part of The Greenwich Lane condominium (the “Condominium”), and this Agreement and the parties rights and obligations hereunder are subject and subordinate to (i) the Declaration Establishing a Plan for Condominium Ownership of the Premises Known as The Greenwich Lane Pursuant to Article 9-B of the Real Property Law of the State of New York, dated as of July 1, 2015, recorded in the Office of the City Register on October 5, 2015 in CFRN #201500355547, together with all amendments, modifications and supplements thereto and/or replacements thereof (collectively, the “Condominium Declaration”), (ii) the by-laws annexed to the Condominium Declaration, together with all present and future amendments, modifications and supplements thereto and/or replacements thereof (collectively, the “Condominium By-Laws”), and (iii) and any other documents executed, filed or recorded in connection with subjecting the Real Property to Article 9-B of the Real Property Law of the State of New York, together with all amendments, modifications and supplements thereto and/or restatements thereof (together with theCondominiumDeclarationandtheCondominiumBy-Laws,collectively,the“CondominiumDocuments”). Licensee shallnotcauseadefaultundertheCondominiumDocuments. WithoutexpandingLicensee’sPermittedUse,Licensee acknowledges that the Condominium Documents prohibit the following uses for the Premises a: (a) a cabaret or nightclub, or establishment of any capacity with dancing, a discotheque or other live entertainment; (b) any use prohibited in, or not permitted by, the Restrictive Declaration, including, but not limited to, Use Group 12A eating or drinking establishments with entertainment and a capacity of more than 200 persons; (c) a massage parlor, adult bookstore or other establishment selling items of a pornographic nature, (d) a dry cleaner, (e) a substance abuse clinic, (f) any use involving sleeping or requiring sleeping quarters or domiciliary care facilities, or (g) any use requiring a flue. Anything that Licensee is precluded from doing with respect to the Building shall also be precluded with respect to any portion of the Condominium.
16. Mechanic’s Liens: Nothing in the License Agreement will be construed in any way as constituting the consent or request of Landlord, express or implied, by inference or otherwise, to any contractor, subcontractor, laborer or materialmen, for the performance of any labor or the furnishing of any material for any specific alteration to, or repair of, the Premises, the Building, or any part thereof. Any mechanic’s lien or other lien filed against the Building or the real property on which the Building is situated, as a result of any act or omission of Licensee, or any person claiming through or under Licensee, must be discharged by Licensee (by bond or otherwise), at Licensee’s sole cost and expense, within twenty (20) days after the filing of such lien.
17. Licensee acknowledges that Landlord has no obligation to maintain, repair, operate or safeguard any equipment serving or used in connection with the Premises, nor is Landlord required to provide any services to the Premises, except to the extent, if any, enumerated on Exhibit A, attached hereto and made a part hereof. Any Building employee to whom any property is entrusted by or on behalf of Licensee will be deemed to be acting as Licensee’s agent with respect to such property and neither Landlord nor Landlord’s agents will liable for any loss of or damage to any such property by theft or otherwise.
18. Security Deposit: Upon execution of the Agreement, Licensee will deposit the sum of $7,500.00 representing security (the “Security”) for the faithful performance and observance by Licensee of the terms, covenants and conditions of the Agreement on Licensee’s part to be observed and performed. Appear Here will hold this deposit until the Landlord confirms it can be returned once the Term is complete. The Landlord will make any deductions necessary from damages during the Term. In the event Licensee defaults in respect to any of the terms, provisions and conditions of this Agreement, Landlord may use or apply all or any part of the Security for the payment to Landlord for Licensee’s account of any sum or sums due under this Agreement, without thereby waiving any other rights or remedies of Landlord with respect to such default. Licensee agrees to replenish all or any part of the Security so used or applied during the Term. After (i) the Expiry Date or any other date upon which the Term shall expire and come to an end (other than in connection with a default), and (ii) the full observance and performance by Licensee of all of the terms, covenants and conditions of this Agreement on Licensee’s part to be observed and performed, including, but not limited to, the provisions of Section 1.16 of the Annexure and Section 10 of this Appendix, Landlord shall return to Licensee the balance of the Security then held or retained by Landlord. Landlord agrees that, unless prohibited by law or by the general policies of lending institutions in New York City, Landlord shall deposit the Security in account with a bank selected by Landlord, with it understood that there shall be no obligation to earn interest on the same, and all interest accruing thereon, if any, shall be added to and become part of the Security and shall be retained by Landlord under the same conditions as the sum originally deposited as Security. Licensee agrees that Licensee shall not assign or encumber any part of the Security, and no assignment or encumbrance by Licensee of all or any part of the Security shall be binding upon Landlord, whether made prior to, during, or after the Term. Landlord shall not be required to exhaust its remedies against Licensee or against the Security before having recourse to any other form of security held by Landlord and recourse by Landlord to any form of security shall not affect any remedies of Landlord which are provided in this Agreement or which are available to Landlord in law or equity. In the event of any sale, assignment or transfer by Landlord named herein (or by any subsequent Landlord) of its interest in the Building as owner or lessee, Landlord (or such subsequent owner) shall have the right to assign or transfer the Security to its grantee, assignee or transferee and, in the event of such assignment or transfer, Landlord named herein, (or such subsequent Landlord) shall have no liability to Licensee for the return of the Security and Licensee shall look solely to the grantee, assignee or transferee for such return. A lease of the entire Building shall be deemed a transfer within the meaning of the foregoing sentence. Notwithstanding
anything to the contrary set forth in the foregoing provisions of this Section 18, Landlord shall be entitled to retain
the one (1%) percent administrative fee permitted by law to be retained by landlords with respect to security deposits.
19. Default: The interest rate set forth in Section 1.18 shall be based on the rate by JPMorgan Chase Bank in lieu of Lloyd TSB Bank. If Licensee shall default in the observance or performance of any term, covenant or condition of this Agreement on Tenant’s part to be observed or performed, Landlord, at any time thereafter and without notice, may remedy such default for Licensee’s account and at Licensee’s expense, without thereby waiving any other rights or remedies of Landlord with respect to such default. . If at any time prior to or during the Term, any one or more of the following events (referred to as “Events of Default”) shall occur: (i) if Licensee defaults in the payment when due of any installment of Rent or in the payment when due of any other sums due Landlord hereunder, and such default continues for a period of five (5) days after notice by Landlord to Licensee of such default, or (ii) if Licensee defaults in the observance or performance of any term, covenant or condition (other than the covenants pay Rent or other sums due Landlord) of this Agreement granted hereunder on Licensee’s part to be observed or performed and Licensee shall fail to remedy such default within ten (10) days after notice by Landlord to Licensee of such default or if such default is of such a nature that it cannot be completely remedied within said period of ten (10) days and Licensee shall not commence, promptly after receipt of such notice, or shall not thereafter diligently prosecute to completion, all steps necessary to remedy such default; or (iii) if Licensee files a voluntary petition in bankruptcy or insolvency, or a similar proceeding is commenced against Licensee or Licensee is adjudicated as bankrupt or insolvent, or Licensee files or there shall be filed against Licensee any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under present or any future federal bankruptcy act or any other present or future applicable federal, state or other statute or law, or Licensee shall make an assignment for the benefit of creditors, or Licensee shall seek or consent to or acquiesce in the appointment of any trustee, receiver or liquidator for Licensee or of all or any part of Licensee’s property; or (iv) Licensee shall fail to continuously operate Licensee’s business in the Premises, or (v) if Licensee’s interest in this Agreement is assigned without Landlord’s consent, upon the occurrence, at any time prior to or during the Term, of any one or more of such Events of Default, Landlord, at any time thereafter, at Landlord’s option, may give to Licensee a five (5) days’ notice of termination of this Agreement and, in the event such notice is given, this Agreement and the Term shall come to an end and expire upon the expiration of said five (5) days with the same effect as if the date of expiration of said five (5) days were the expiration date of the Term and this Agreement, but Licensee shall remain liable for damages and all other sums payable pursuant to law. Any notice given by Landlord to Licensee under this Section 19 shall be deemed a “ten day notice to quit” under the provisions of Section 713 of the Real Property Actions and Proceedings Law. If, at any time (i) Licensee shall be comprised of two (2) or more persons, or (ii) Licensee’s obligations under this Agreement shall have been guaranteed by any person other than Licensee, or (iii) Licensee’s interest in this Agreement shall have been assigned, the word “Licensee”, as used in clause (iii) of the first sentence of this Section 19 and in Section 9, shall be deemed to mean any one or more of the persons primarily or secondarily liable for Licensee’s obligations under this Agreement. Any monies received by Landlord from or on behalf of Licensee during the pendency of any proceeding of the types referred to in said clause (iii) shall be deemed paid as compensation for the use and occupation of the Premises and the acceptance of any such compensation by Landlord shall not be deemed an acceptance of License Fee or a waiver on the part of Landlord \of any rights under this Section 19. In the event of a breach or threatened breach by Licensee, or any persons claiming through or under Licensee, of any term, covenant or condition of this Agreement on Licensee’s part to be observed or performed, Landlord shall have the right to enjoin such breach and the right to invoke any other remedy allowed by law or in equity as if re-entry, summary proceedings and other special remedies were not provided in this Agreement for such breach. The right to invoke the remedies hereinbefore set forth in this Agreement is cumulative and shall not preclude
Landlord from invoking any other remedy allowed by law or in equity.
20. Notices: Any bills, statements, notices, demands, requests or other communications given or required to be given
pursuant to this Agreement (“Notice”) shall be effective only if rendered or given in writing, sent by registered or certified mail, return receipt requested, or by nationally recognized courier service such as Federal Express or UPS, address (a) to Licensee, Attn: _______________, (i) at the following address if sent prior to Licensee’s taking possession of the Premises _________________________________________________________, or (ii) at the Building if mailed subsequent to Licensee’s taking possession of the Premises, or (iii) at any place where Licensee or any agent or employee of Licensee may be found if mailed subsequent to Licensee’s vacating, deserting, abandoning or surrendering the Premises, or (b) to Landlord at 345 Park Avenue, New York, New York 10154, Attn: William C. Rudin, with a copy to Goldfarb & Fleece LLP, 560 Lexington Avenue, New York, New York 10022, Attn: Rudin
Partner in Charge. Any such Notice will be deemed to have been rendered or given on the date when it shall have
been mailed as provided herein.
21. Waiver of Consequential Damages: Notwithstanding anything to the contrary in this Agreement, except as set forth
in the immediately following sentence, in any case in which Landlord or Licensee is liable in damages to the other by reason of breach of this Agreement, such damages will consist solely of direct damages and in no event shall either party be liable to the other for consequential damages or special or indirect damages. The foregoing limitation on damages shall not apply to the liability of Licensee arising from a breach by Licensee of Section 1.16 and Article 2 of the Annexure and Section 10 of this Appendix.
22. Limitation on Landlord’s Liability: The limitation of Landlord’s liability set forth in Section 3.1 of the Annexure is subject to the so-called waiver of subrogation provisions referred to in and the release provisions in this Agreement. No general or limited partner, officer, director, employee or shareholder of Landlord or any agent thereof will be personally liable for the performance of Landlord’s obligations under this Agreement. The liability of Landlord for any Landlord’s obligation under this Agreement will be limited to Landlord’s interest in the Building and Licensee will not look to any of Landlord’s other assets for enforcement or satisfaction of any such obligation, nor will Licensee seek recourse for such enforcement or satisfaction against any general or limited partner, officer, director, employee or shareholder of Landlord or any agent thereof.
23. Miscellaneous: This Agreement will not be binding or effective until it is executed and delivered by Landlord to Licensee, and may be executed in several counterparts, each of which will constitute an original, but all of which together will constitute one and the same instrument. This Agreement will be binding upon and inure to the benefit of the parties hereto and their respective legal representatives, successors and, with respect to Landlord, assigns. Licensee will have no right to record this Agreement or any memorandum thereof. Unless expressly stated otherwise in this Agreement, all consents, approvals or signoffs of Landlord or any other decisions required to be made by Landlord pursuant to this Agreement will be made in Landlord’s sole and absolute discretion. If the Annexure and this Appendix are deemed a lease, it shall be for the term set forth on the fist page of the Annexure to which this Appendix is attached.
24. Broker: Licensee represents and warrants that Appear Here Inc. (“Broker”) is the sole broker with whom Licensee has negotiated or otherwise dealt with in connection with the Premises or in bringing about this Agreement. Licensee will indemnify Landlord from all loss, cost, liability, damage and expenses, including but not limited to, reasonable attorneys’ fees and disbursements, arising from any breach of the foregoing representation and warranty. Landlord will pay to Broker any commission or compensation owing to Broker in connection with this Agreement pursuant to a separate agreement between Landlord and Broker. The terms and conditions of this Section 24 will survive the expiration or sooner termination of this Agreement.
Exhibit A Services
Landlord shall provide the following services to the Premises:
On or about commencement date, Landlord will rent and install one (1) , seven (7) ton unit for Licensee’s use during the term. Estimated cost for rental and installation is $6500 and will be paid by Licensee.
Landlord shall perform the following work regarding the Premises:
On or about commencement date, Owner will install three (3) twenty (20) amp quad outlets in Premises in location to be determined.
Exhibit B Insurance Requirements
1. Additional Insureds must be:
Rudin Management Company, Inc.,
TGL Retail 1 LLC
Condominium Board of The Greenwich Lane West Village Residences LLC
West Village Holdings LLC
Rudin West Village LLC
Global RWV LLC
OSL Shipping and Development, Inc. including its division Eastgate Realty Atlantic West Village L.P.
2. Each certificate must state: “Insurance is primary and non-contributory, notwithstanding any insurance maintained by the Additional Insureds.”
3. Liability Limits: $5 million (per occurrence and in the aggregate on a per location basis)
4. Certificate Holder:
Rudin Management Company, Inc. 345 Park Avenue
New York, NY 10154
Attention: Chandra Ramlochan
5. Worker’ s Comp: In addition to liability insurance, Worker’ s Compensation Insurance providing statutory benefits for Company’ s Parties’ employees and Employer’ s Liability coverage in an amount that is not less than $500,000 is required.
6. Waiver of Subrogation: Each certificate of insurance must state: “With respect to all insurance policies other than worker’s compensation, Insurer’s rights of subrogation are waived against the Additional Insured parties.”