PARK CITY 3&4 APARTMENTS,INC

Revised July 2004

HOUSE RULES AND REGULATIONS

Violation of any House Rule (s) or terms of the Proprietary Lease can result in legal action to remedy. The shareholder is responsible for all legal expenses incurred to the Corporation as a result of the Shareholder’s and/or their tenants(s) or guest(s) action/actions.

OCCUPANCY GUIDELINES

The number of occupants per apartments is as follows:

Studio -------------- 2 persons

1 Bedroom -------------- 3 persons

2 Bedroom -------------- 4 persons

3 Bedroom -------------- 5 persons

Guests other than immediate family are permitted for no more than thirty (30) days. The Management Office must be notified in writing in advance. The Shareholder must use the apartment as a primary residence. Violators of this policy will be fined five hundred dollars ($500.00) per month.

1. GARBAGE REFUSE AND RECYCLING MATERIAL

a. Garbage, waste matter, and refuse shall be securely wrapped or packed before being conveyed to the compactor chute.

b. Garbage and refuse shall be deposited carefully in the compactor chute so that no part of it drops to the floor. Use bags small enough to fit into the chute.

c. Garbage, waste and refuse that does not fit into the chute must be taken to the designated area in the Compactor/ Incinerator Room in the basement or outside the building.

d. Residents must comply with recycling laws in accordance to New York City Code. Glass, cans, and tied bundles of paper should not be placed in the compactor chute. These items must be left in the recycle bins supplied in the Compactor (garbage) rooms.

e. Non-compliance with the above rules will results in a fifty dollars ($50.00) or more fine imposed and charged to your account per occurrence.

2. MOVING

a. Anyone moving in or out must first obtain a written permit from the Management Office, (see permits). The permit must be obtained at least 24 hours in advance. The elevators must be padded before any move-in or move-out can begin. Upon completion of move-in/move-out a signed inspection form must be returned to Management to claim the move-in/move-out deposit back. In addition Management reserves the right to cancel a permit if an elevator is out of order.

b. Moving in, Moving out or any Delivery is permitted:

Monday to Friday from 8.30AM to 4.30PM Only

This includes removal of furniture, appliances, televisions etc. Items that can easily be carried by one person may be moved at any time with out disturbance. All moves and deliveries must come through the rear/side and/or basement entrance. Carriages, strollers, bicycles, wagons, carts, etc. are not permitted through the lobby at anytime.

d. A five hundred ($500.00) move-in/move-out or delivery deposit is required by the Corporation. The deposit will be returned after the move or delivery is successfully completed with no damage to the building or elevator.

e. Anyone violating the move-in/move-out or delivery policy will be fined $500.00 per occurrence.

3. SUBLETS

Subletting is not permitted without prior written consent from the Board of Directors. Any shareholder who illegally sublets their apartment will be fined one thousand ($1000.00) per occurrence. Any shareholder who continues to illegally sublet their apartment will be fined an additional five hundred ($500.00) per month for each month the apartment remains illegally sublet. In addition, the shareholder will be held responsible for all legal fees incurred by the Corporation in accordance to the Proprietary Lease. For additional information pertaining to sublet fees and to obtain sublet application, please contact the Management Office.

a. The shareholder must own and live in the apartment for a period of 1 (one) year before they can request to sublet their apartment.

b. The shareholder can only sublet the apartment for a maximum period of three (3) years from the date of the first Lease Agreement. The sub-lease cannot be for a period less than 11 months at each renewal.

c. After the shareholder sublets for three (3) years the Shareholder must either move back in the apartment or Sell the apartment.

d. All apartments will be inspected by Management before permission to sub-let is granted by the Board of Directors.

e. A sublet fee of 15% of maintenance will be charged to the shareholder.

4. RESALE

All resale’s must receive prior written consent from the Board of Directors. If you wish to sell your apartment, call the Management Office for a sale application. The apartment must be inspected by the Management before permission is given for a sale. The inspection report of the Management will be required at closing. For additional information pertaining to resale, resale fees and to obtain a resale application, please contact the Management Office.

5. LOBBIES, HALLWAYS, CATWALKS, & ELEVATORS

a. Loitering, ball-playing, bicycle riding, skate boarding or roller bladeing in entrances, lobbies, catwalks, hallways and staircases of building is strictly prohibited.

b. All deliveries of equipment, furniture, appliance, etc. must be made through the basement entrances. A permit must be obtained for all deliveries, move-ins/move-outs 24 hours prior. All unauthorized deliveries will be stopped by Security. In addition, violators will be fined $500.00.

c. Moving in or out during the peak elevator usage hours is prohibited (see Moving & Permits).In addition Management reserves the right to cancel a permit if an elevator is out of order.

d. Carriages, strollers, shopping carts, bicycles and All other wheeled vehicles must enter and exit through the basement entrance only.

e. Public halls, stairways and catwalks shall not be obstructed by any wheeled or stationary objects. Storage of any item on the Catwalks is prohibited.

f. Patient(s) of any doctors who has offices in the Building shall not be permitted to wait in the lobby.

g. A vestibule shall not be decorated or furnished by any shareholder or resident.

h. Solicitation of any kind is not permitted in the buildings. Distribution of flyers or notices is prohibited.

i. Personal communication bulletin boards are provided in every Laundry Room. The posting of announcements, advertisements, signs, posters, etc. is not permitted in any other areas of the building.

j. Smoking in common areas is strictly prohibited in accordance with New York City and State Laws. The common areas include elevators, hallways, catwalks, lobbies, laundry rooms, etc.

6. WINDOWS, TERRACES, & DOORS

a. Rugs, mops, wearing apparel, bed sheets, laundry and any related items or articles, whatsoever, may not be placed on terraces.

b. Throwing of objects from terraces or windows is prohibited. No garbage, refuse or cigarette butts shall be discarded over the terraces.

c. Terraces shall be kept clean. Residents will be fined ten dollars ($10.00) per day for violating this policy.

d. No cooking or barbequing is permitted on terrace. Storage of fuel or propane on terraces is prohibited.

e. Shareholders whose dogs create a nuisance while on the terrace will be fined one hundred dollars ($100.00) per occurrence.

f. Items shall not be placed on external window sills, ledges, terrace rails or exterior surface of the building. Planters must be raised at 6” off terrace floor and may not weigh more than (25) pound, each. All flower boxes must be inside the handrail.

g. If window fans and/or air conditioners are installed, they must be securely fastened to interior window frame and must be registered with the Management Office prior to installation (see Permits & Appliances). As per section 132-03(b)(3)(ii)(G) of the Local Law 11, all window air conditioners must have approved brackets to support them.

h. Installation, change, alterations or the painting of the terrace floors, walls, ceilings, partitions, or terrace door is prohibited.

i. Obstruction to proper drainage of terrace floor is not permitted. No tiles, matting are allowed to be installed on the terraces.

j. External awnings, shades or window guards are not permitted.

k. Entrance doors to the apartment and vestibules shall not be left open.

l. Entrance doors shall not be installed or painted at the entrance to an apartment, other than those installed or painted by the Corporation.

m. Radio and television sets are not to be operated on terraces at unreasonable noise levels. Every shareholder has the right to quiet enjoyment. Activities which create noise shall be restricted to the designated hours.

n. No satellite dish can be installed without prior written approval of the Board of Directors. Shareholders will be fined up to five hundred ($500.00) for installing Satellite dishes without prior written approval of the Board of Directors.

7. ALTERATION

Alterations are not allowed within an apartment without the specific written approval of the Board of Directors. Any shareholder applying to make such changes e.g. renovate a bathroom, a kitchen, paint, install cabinets, install ceramic tiles, etc, must first submit an Alteration application to the Board of Directors, along with plans, agreement with a contractor, Proof of insurance and bond (SEE PERMITS). Details of work to be done must be submitted to the Management office before the permit is granted.

Any shareholder or resident doing work after hours or without a permit will be fined, No exceptions.

The Board of Directors will determine when plans must be prepared by an engineer and filed with the Building Department. All work done must be approved by the Management Office in writing. There is a fee in the Amount of $20.00 per day for any alterations.

a. A refundable deposit of $2500.00 is required before any alteration permit is granted. The deposit will be refunded upon satisfactory completion of renovation and inspection of apartment by Management.

b. Renovation permits will be granted for a maximum of three (3) weeks. All work must be finished within that time.

c. All work must be done within the hours of 8.30AM and 4.30PM. No work is allowed to be done on weekends or Holidays.

8. TERRACE ENCLOSURES

Permanent terrace enclosures are forbidden.

A standardized temporary screen enclosure against pigeons and squirrels is permitted. For information on the screen enclosure, please contact the Management Office.

No bars may be installed on the terrace railings except Fire Department approved bars on the first floor.

9. REPAIRS

The shareholder/resident is responsible for all repair inside the apartments. The shareholder may use licensed outside personnel or may use the repair service at the prescribed fee, plus the cost of any necessary parts, except minor faucet leaks which are repaired at no charge. No shareholder may engage the staff of the Corporation to do work in their apartments during normal working hours. All work done by maintenance staff must be supported by a work ticket issued by the Management office.

b. The Corporation is responsible for all repairs within the Structure of the building, e.g. roofs, pipes within walls, heating, etc. Repairs under this category are without charge. Emergency service is available 24 hours, seven (7) days a week.

Please call the Management Office at (718) 897-2000

10. APARTMENT INSPECTIONS

Apartment inspections will take place once a year as necessary, and will be conducted by the Management with prior notice to the shareholder. Inspections will be conducted before any sale or sublet is permitted. Permission for sale will be with held if the inspection report is not produced at the time closing.

11. APPLIANCES

a. Jacuzzi’s are not permitted in the apartment.

b. There will be no Washing Machines or Dryers permitted in the apartments under any circumstances. All residents must use building laundry rooms or an outside laundry service.

c. All shareholders in violation of this policy ( sec 11 a & 11b ) will be charged an initial administrative fee of $ 1000.00 and a monthly charge of $500.00, until the appliance is removed. No sale or sublet will be permitted until the said appliance is removed, all fees are paid and an inspection report from the Management Office is submitted to the Board of Directors.

d. Instructions for installation of Dishwashers are available in the Management Office.

e. Installation of Satellite dishes is permitted by permit only. No satellite dishes may be installed in the bricks. Please contact Management office at 718-897-2000 for details.

12. PERMITS & APPLICATIONS

The following permits, will be issued by the Board of Directors

and/or the Management:

Moving-in/Moving-out Permit

Temporary parking permit

Alteration/ change permits

Delivery permits for appliances

Please contact the Management Office for applications and further information at (718) 897-2000.

13. EXTERIOR WALKS AND ROOFS

Loitering, sitting or playing on walks or areas in front of, or adjacent to the main service entrances, and the garages is prohibited. Recreations areas have been provided. Building entrances, hallways and catwalks are to be kept free and clear of all encumbrances and obstruction, e.g. carriages, sleds, bicycles, etc. Bike riding; roller blade etc. on walks is prohibited.

Access to the roof is strictly prohibited. An administrative fee of $250.00 will be assessed for any one violating this policy.

14. PLAYGROUNDS, SITTING AREAS & LAWNS

a. Play activity shall be confined to the playground area provided for that purpose.

b. Standing or walking on the benches and any other unsafe acts are prohibited.

c. Playground and sitting areas are to be used between 8:00 a.m. and sundown or a specific time posted at the entrances or in the notice boards provided in each building. Seasonal changes in the time will be informed to the shareholders.

Entering upon any landscaped areas or sitting on lawns and around walks is prohibited.

Digging up, or damaging planted areas or lawns is prohibited.

Dogs are not permitted in the park, playground, or on the lawns at any time.

15. PARKING AREAS

Parking spaces are available for Resident Shareholders only. The Shareholder must be current on his/her maintenance payments to be eligible to apply for a parking license or to park in the garage. The parking permit will be revoked if the shareholder is in arrears of any charges.

Occupants must park their vehicles within the spaces assigned to them, in accordance to the parking permits and licenses. Any change of vehicle parking in that space must be cleared with the Management Office (SEE PERMITS).

Washing, repairing, or servicing of vehicles is prohibited in the garage or approach ramps. Violators will be charged a administrative fee at the discretion of Management.

Parking in the driveways, ramps, or reserved spaces belonging to others is prohibited. (Visitors should be so advised). An Administrative fee of $100.00 per occurrence will be charged for illegal parking.

Each occupant of a parking space must register, in writing with the Management Office: the make, the color and the license plate number of the vehicle. Changes in such information must be registered in writing with Management. A copy of the valid vehicle registration and drivers license is required.

Littering is prohibited in the garage; use provided receptacles.

Any occupant of a garage space shall not permit that space to be occupied by any vehicle, other than a vehicle duly registered as above for the specific space, unless Management is notified and a temporary permit is issued.

Any vehicles in violation of the above policy will be towed at the owners’ expense.

Please contact the Management Office to fill out a application to be on the garage list. Only shareholders who own a car and reside in their apartment are eligible to be on the parking wait list. Only one parking space per apartment is permitted.

Please contact the Management for special parking rules if you are temporarily relocated or called for Military duty.

16. ANIMALS

Effective, July 2004 new dogs are permitted with written Board approval. No exotic animals or birds are permitted.

Existing dogs must have proper licensing and health certification. Management has the right to check the documents on the dogs periodically. Existing dogs must be leashed when on the premises.

At no time may dogs be allowed to roam unleashed on the lawns or in any common area of the property.

Dogs must be curbed. No unleashed dogs are allowed in the parking garage.

Owners of pets will be held responsible for damage or nuisance committed by their animals.

All animals shall be kept harbored and maintained in such a manner as to not interfere with the use and quiet enjoyment of other residents in the Cooperative.

All animals must be attended to and come and go through the basement entrances. Under no circumstances are dogs to be taken through the Lobby Entrances.

Dogs owners shall immediately clean up after their pet(s).

Any shareholder/resident not complying with the Above is subject to fine and legal action.

Shareholder whose dogs create a nuisance (barking) while on the terrace will be fined fifty dollars ($50.00) or more per occurrence.

17.ELECTRICITY/ELECTRICAL METER

a. Shareholders are responsible to pay for their individual electric consumption.

b. Maintenance of wiring and the circuit breakers is the responsibility of the shareholder. An estimated bill will be issued if the reading cannot be taken. For any work related to repair or replacement of wiring see Alterations

c. Moving the meter is not permitted under any circumstance. If a shareholder moves the meter he/she will be charged an administrative fee of $ 500.00. If we are unable to read the meter the shareholder will be charged $ 1.00 per share in the summer months and $0.50 per share in the winter months, each month.

d. Please contact the Management Office to obtain a list of charges to check the meter. A minimum of $100.00 per hour will be charged to your account if no defect is found in the meter.

18. CO-OPERATIVE LIVING

a. Shareholders/Residents shall not make or permit any disturbing noises before 8:30 a.m. and not after 10:30 p.m. on weekdays and 12:00 a.m. on weekends in the building by themselves, their family, friends, visitors, licensees, servants, equipment or appliances, nor do permit anything to be done by such persons that will interfere with the rights, comforts or conveniences of other residents or persons on the corporate property.

b. Shareholders/residents will be held responsible for all Acts and all damages caused by their families, guest, pets, or employees, including the defacement or destruction of any part of the building or grounds.

c. The playing of musical instruments, radios, television in a disturbing manner is not permitted.

d. Shareholders/residents are not permitted to use any Co-op employees for personal services while said employees are on duty.

e. At least Eighty percent (80 %) of the floors area ofThe apartment must be covered with rugs, carpeting or other noise reducing material. The exception being the kitchen and bathroom floors areas.

19. OTHER CHARGES:

a. LATE FEES- Maintenance payments are due on the first of the month. Effective July 1, 2004 a late charge of twenty-five dollars ($25.00) is imposed for maintenance received after the tenth of the month.

b. BOUNCED CHECKS- Any checks returned for insufficient funds will result in a thirty-five dollar ($35.00) service charge plus late charges if applicable.

19. AVAILABLE SERVICES--- FOR FURTHER INFORMATION– call (718) 897-2000 Management Office.

a. Garage space rental for fee and availability please, contact Management office.

b. Automatic garage remotes can be purchase at the Management Office.

c. Maintenance repair is available for fee, please contact the Management Office.

d. For cable T.V. for service information, please call The Management Office.

e. Newspaper delivery is permitted. Security must be notified in writing in advance.

f. Extermination is provided at no charge (4) times per month on the First (1st) Saturday of each month and three Wednesdays of each month.

g. Intercom service is provided at no charge. Please contact the Management Office for further information.

h. Lobby-Monitor Channel service is available at no charge. Please contact the Management Office.

i. Laundry rooms are for all residents use only. For any refunds, please contact the service company posted in the Laundry Rooms.

j. In case of Emergency, please call Security at (917) 440-0070

k. For storage bin information, please contact the Management Office.

The House Rules and Regulations are in addition to the policies contained in the Offering Plan, By-Laws and the Proprietary Lease.

These policies may be amended at any time by the Board of Directors.

Administrative fees and/or fines are imposed for services and violators of the above rules.

The same are subject to change by the Board of Directors. Please contact the Management Office for any clarification or further information at 718-897-2000.