Coach 2013 Annual Report Download - page 317

Section 9.3 Sections and Sub-Boards. In connection with the subdivision of any Unit pursuant to this Article 9, the subdividing Unit
Owner shall have the right, without the consent of any Unit Owner, the Board of Managers, or any Sub-Board, to amend the Declaration, the By-Laws and
the Floor Plans to: (i) effect and reflect such subdivision; (ii) supplement the Declaration by annexing and incorporating therein a set of by-laws for the internal
governance of the subdivided Units so created and any Exclusive Use Common Elements appurtenant thereto (referred to herein collectively as a “ Section”),
which shall (together with, but subject to, this Declaration and the By-Laws), from and after the recording of the amendment to the Declaration effecting such
subdivision, govern the affairs, use and occupancy of such Section; (iii) allocate and assign to the Unit Owners of the Units so created to a sub-board of
managers established to govern such Section (a “ Sub-Board”), or to both, the applicable rights and obligations of the Unit Owner of the subdivided Unit
under the Condominium Documents immediately prior to such subdivision (including, without limitation, with respect to voting, alterations, liens, self-help,
governance, payment of Common Charges, appointing members of the Board of Managers, insurance, etc.); and (iv) make such other changes which do not
materially and adversely affect the rights or property of the other Unit Owners and which are reasonably deemed appropriate or desirable by the subdividing
Unit Owner consistent with the then prevailing practice in respect of office sub-groups, and the governance thereof and the offering of units therein, as part of
mixed-use condominium projects in the City of New York. Any disputes with respect to any amendments to the Condominium Documents pursuant to clause
(v) above shall be resolved by Arbitration in accordance with the provisions of Article 15 of the By-Laws. The remainder of the above-described changes may
be made as of right. Nothing in this Section 9.3 or otherwise in the Condominium Documents shall be construed to prohibit ownership and use of any Unit
for any purpose provided for in the Declaration.
Article 10
Mechanic’s Liens; Violations; Compliance with Laws
Section 10.1 Mechanic’s Liens. In the event that any mechanic’s lien is filed against any Unit or other portion of the Property as a result of
services provided or materials furnished to, or Alterations or Repairs or other work performed for a Unit Owner (or such Unit Owner’s Permitted Users) with
respect to all or any portion of its Unit or Sub-Board with respect to its Section (each such Unit Owner, or Sub-Board, as applicable, for purposes of this
Section 10.1, being referred to as the “Lien-Causing Unit Owner”), or alleged to have been provided or furnished to, or performed for, any such Lien-Causing
Unit Owner, then such Lien-Causing Unit Owner shall promptly notify the Board of Managers and the Managing Agent of same, and shall cause such lien to
be released and discharged of record, either by paying the indebtedness which gave rise to such lien or by posting a bond or other security as shall be required
by Law to obtain such release and discharge, in each case within thirty (30) days after receiving from a Unit Owner whose Unit has been adversely affected
by such mechanic’s lien, or from the Board of Managers if any Common Elements have been adversely affected by such mechanic’s lien, a notice (a “ Lien
Notice”) identifying the lien and requesting that the same be released or discharged, failing which the Board of Managers shall have the rights set forth in
Article 13 hereof. For purposes of this Section 10.1, a Unit Owner shall be deemed to be “adversely affected” by a mechanic’s lien (which is the responsibility
of a Lien-Causing Unit Owner to remove, as aforesaid) if such Unit Owner’s Unit is reasonably purportedly (whether or not actually) encumbered by or
subjected to the mechanic’s lien. In all events, the Lien-Causing Unit Owner shall defend, protect, indemnify and hold harmless all other Unit Owners, any
Sub-Board, and the Board of Managers from and against any and all Costs arising out of or resulting from the applicable mechanic’s lien. Copies of all Lien
Notices sent by a Unit Owner shall be simultaneously sent to the Board of Managers.
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