PARTY WALL AGREEMENT

AGREEMENT, made this ____ day of _________ l9___ between ________________ a corporation duly organized and existing under the laws of the State of New York, having its principal place of business at , Borough and County of the ______, City and State of New York, party of the first part, and _______________ and his wife, both residing at ______________ in the County of _________ , City and State of New York, party of the second part:

WITNESSETH

WHEREAS, the party of the first part is the owner of the premises located and described as follows:

ALL that certain plot, piece or parcel of land, situate, lying and being in the County of tae Bronx, City and State of New York, being more particularly described as follows:

[Description]

and the party of the second part is the owner of the premises located and described as follows:

ALL that certain plot, piece, or parcel of land, situate, lying and being in the County of the Bronx, City and State of New York, being more particularly described as follows:

[Description]

which adjoin said premises of the party of the first part with walls in common hereinafter called "party walls" which are located on the boundary line described as follows:

BEGINNING at a point

[Description]

WHEREAS, the said parties are desirous of recognizing , establishing, and maintaining the party walls existing on the said division line between said parcels so owned by said parties of the first and second parts;

NOW, THEREFORE, in consideration of one dollar and other good and valuable consideration and the mutual covenants herein the parties mutually covenant and agree for themselves, their respective successors and assigns as follows:

1. The walls shall be used and maintained as party walls forever and that each party shall be licensed and permitted to enter upon the premises of the other party to make necessary repairs upon advance notification to said other party of such intentions to do so. Furthermore, an officer of the party of the first part must be present whenever the party of the second part enters the premises of the party of the first part pursuant to this Agreement.

2. The party of the second part may at any time add to said party walls in depth or thickness as to their side but any other addition to said party walls in length, height or otherwise must be consented to by the party of the first part.

3. The party of the first part may at any time add to said party walls in length, height, depth or thickness or extend the same in either direction.

4. If the walls are at any time extended after the date of this agreement the cost of such extension shall be paid by the party making such extension.

5. Either of the parties hereto may repair or in case of destruction rebuild the party wall.

6. In the event of the making of any repairs to or rebuilding of said walls or any addition or change thereto the party so doing shall make such repairs or rebuild or add to or extend said walls in such a way as to leave the other party as nearly as is reasonably possible in the circumstances, in the same condition with respect to said walls as before and shall use good material throughout and do such work in a good, substantial and workmanlike manner. Such party so repairing or rebuilding or extending shall do all work in connection therewith, as far as is reasonably possible from his own side of the division line and shall do all work in conformance with the requirements of the Building Laws of the State and City of New York and the rules, regulations and ordinances of any governmental authority having jurisdiction thereof.

7. If it shall become necessary to repair or rebuild the walls or any portion of the walls as constructed, the cost of such repairing and/or such rebuilding, as to such portions of the at the time used by both parties, shall be borne equally by both parties.

8. If and when the walls are rebuilt they shall stand upon the same place and be of the same or similar materials and of the same proportions as the walls described above.

9. The parties hereto, for themselves, their respective successors and assigns do mutually covenant and agree to and with the other, his successors and assigns to keep and in all respects observe the foregoing agreement and do further agree that the covenants herein contained shall run with the land.

10. Nothing herein contained shall obligate or make responsible or liable in any way in connection with such party wall any owner of either of said parcels of land except for his acts of omission and commission while owner.