Coach 2013 Annual Report Download - page 340

(b) To the extent permitted by Law, each Unit Owner shall be deemed to have waived any and all right to surrender its Unit
(in each case, together with its Appurtenant Interests), to the Board of Managers.
Section 14.9 Estoppels. The Board of Managers, at any time, and from time to time, upon at least ten (10) days’ prior written notice by a
Unit Owner, shall execute, acknowledge and deliver to the Unit Owner, and/or to any other person, firm or corporation specified by the Unit Owner, a
statement: (i) certifying that the Condominium Documents are in full force and effect and are unmodified (or, if modified, stating the dates of any amendments
thereto); (ii) setting forth the then annual Common Charges allocable to the Unit in question and the dates to which such Common Charges have been paid;
and (iii) stating whether or not there exist any known defaults by the Unit Owner under any of the Condominium Documents and, if so, specifying each such
known default. The Board of Managers shall be entitled to charge the requesting Unit Owner a reasonable fee for preparing and rendering said statement. The
addressee of any such statement shall be entitled to rely thereon; and each statement delivered pursuant to this Section 14.9 shall act as a waiver of any claim
between the addressee and the Board of Managers to the extent such claim is based upon facts contrary to those asserted in the statement and to the extent the
claim is asserted against a bona fide encumbrancer or purchaser for value without knowledge of facts to the contrary of those contained in the statement, and
who has acted in reasonable reliance upon the statement provided, however, that the issuance of such statement shall in no event subject the Board of
Managers to any liability for the negligent or inadvertent failure of the Board of Managers to disclose correct and/or relevant information.
Section 14.10 Non-Disturbance. At the request of any Unit Owner made from time to time, the Board of Managers shall, at the sole cost and
expense of the requesting Unit Owner, execute and deliver a non-disturbance agreement (substantially in the form annexed to the Declaration as Exhibit D or in
any such other or changed form as may be agreed upon by the Board of Managers and the requesting Unit Owner, a “ Non-Disturbance Agreement ”) to any of
such Unit Owner’s lessees whose lease covers at least 10,000 square feet of space in such Unit Owner’s Unit.
Article 15
Arbitration
Section 15.1 Arbitrable Issues. Any dispute or controversy between the Unit Owners or between a Unit Owner and the Board of Managers
concerning or relating to the Declaration or these By-laws, may, at the option of any party to the dispute or controversy be submitted to arbitration
(“Arbitration”) in accordance with this Article 15 (but only if the Declaration or these By-laws expressly provide that the dispute or controversy shall be
resolved by Arbitration). Any dispute or controversy submitted to Arbitration shall be determined and resolved by Arbitration (and not by litigation, except
with respect to the enforcement of an arbitrator’s decision). Nothing in this Article or elsewhere in the Declaration or these By-laws shall (unless otherwise
expressly provided) require the Arbitration of any dispute between (x) any Unit Owner or Unit Owners or the Board of Managers, on the one hand, and (y)
any third parties (including mortgagees, tenants, insurers and managing agents), on the other. If the dispute or controversy is between the Board of Managers
and a Unit Owner, the member(s) of the Board of Manager selected/elected by the other Unit Owner(s) shall have the right to make all decisions and bind the
Board of Managers with respect to the Arbitration.
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