Coach 2013 Annual Report Download - page 345

Section 20.6 Unanimous Consent. After the subdivision of any of the Units as originally constituted upon the initial recording of the
Declaration, any vote requiring the “unanimous consent of Unit Owners” (or like provision) shall, with respect to such subdivided Unit, require the consent
of Unit Owners holding a simple majority of the common interest appurtenant to all Units resulting from such subdivided Unit.
Section 20.7 CPI Increases. All specific dollar amounts set forth in these By-Laws or the Declaration shall be adjusted annually by the CPI
Increase Factor except to the extent otherwise provided. For such purposes, the “ CPI Increase Factor” means an increase proportionate to any increase in the cost
of living from the date of the initial recording of the Declaration, as reflected by the change in the Consumer Price Index (CPI-U; All Items; 1982-84 = 100
standard reference base period) for New York, New York (or the smallest measured area including New York, New York), as published by the Bureau of
Labor Statistics, United States Department of Labor or, if the same ceases to be published, a commonly used substitute therefor reasonably selected by the
Board of Managers (as applicable, the “Consumer Price Index”).
Section 20.8 Covenant of Further Assurances.
(a) Any party which is subject to the terms of these By-Laws, whether such party is a Unit Owner, a lessee or sublessee of
a Unit Owner, an occupant of a Unit, a member or an officer of the Board, a Permitted Mortgagee, a Declarant Net Lessee, or otherwise, shall, at the expense
of any such other party requesting the same, execute, acknowledge and deliver to such other party such instruments, in addition to those specifically provided
for herein, and take such other action, as such other party may reasonably request, as shall be reasonably necessary to effectuate the provisions of these By-
Laws or any transaction contemplated herein or to confirm or perfect any right to be created or transferred hereunder or pursuant to any such transaction (but
without expanding the scope of any liability or obligation on the part of the cooperating party beyond that set forth in the Condominium Documents).
(b) If any Unit Owner or any other party which is subject to the terms of these By-Laws fails to execute, acknowledge or
deliver any instrument, or fails or refuses to take any action which such Unit Owner or other party is required to perform pursuant to one or more specific
provision of these By-Laws, in each case (unless a specific provision with respect thereto is provided for elsewhere in the Condominium Documents) within
fifteen (15) business days after request therefor and within five (5) business days after receipt of a second request therefor (which second request shall be
accompanied by a copy of the initial request (and any supporting materials) and stating in bold print: “THIS IS A SECOND AND FINAL REQUEST FOR
YOU TO EXECUTE, ACKNOWLEDGE AND/OR DELIVER THE DOCUMENTS, OR TO TAKE THE ACTIONS, DESCRIBED IN THE
ENCLOSED PRIOR REQUEST THEREFOR, WHICH IS REQUIRED UNDER THE TERMS OF THE CONDOMINIUM DECLARATION AND/OR
BY-LAWS. YOUR FAILURE TO EXECUTE, ACKNOWLEDGE AND/OR DELIVER THE DOCUMENTS, OR TO TAKE THE ACTIONS, AS THE
CASE MAY BE, WITHIN FIVE BUSINESS DAYS FROM THE DATE HEREOF SHALL ENTITLE THE BOARD OF MANAGERS TO DO SO ON
YOUR BEHALF.”), then the Board of Managers is hereby authorized, as attorney-in-fact, coupled with an interest, for such Unit Owner or other party, to
execute, acknowledge and deliver such instrument, or to take such action, in the name of such Unit Owner or other party, and such instrument or action shall
be binding on such Unit Owner or other party, as the case may be. Any dispute with respect to the foregoing shall be subject to Arbitration pursuant to Article
15 of the By-Laws; provided, the Person refusing to execute, acknowledge or deliver any such instrument, or refusing to take any such action, expressly
renders such refusal in writing (together with its rationale for such refusal) within the time period(s) provided in this Section.
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