City Council

TROY CITY COUNCIL FINANCE COMMITTEE AGENDA September 6, 2018 6:00 P.M. Pledge of Allegiance Roll Call Public Forum LOCAL LAW ORDINANCES 87. Ordinance Amending The Special Grants Fund Budget. (Council President Mantello) (At The Request Of The Administration) RESOLUTIONS 90. Resolution Authorizing The Mayor To Execute An Agreement With The Troy Community Land Bank. (Council President Mantello) (At The Request Of The Administration) 91. Resolution Of The City Council Of The City Of Troy Authorizing The Execution Of A Release Of Reverter. (Council President Mantello) (At The Request Of The Administration) 92. Resolution Authorizing The Retention Of Special Counsel Regarding The Opioid Epidemic. (Council President Mantello) (At The Request Of The Administration)  Ord. 87 ORDINANCE AMENDING THE SPECIAL GRANTS FUND BUDGET The City of Troy, convened in City Council, ordains as follows: Section 1. The City of Troy 2018 budget is herein amended as set forth in Schedule A entitled: September 2018 Budget Transfers – CDBG which is attached hereto and made a part hereof Section 2. This act will take effect immediately. Approved as to form September 4, 2018 James A. Caruso, Corporation Counsel  THE CITY OF Andrew Piotrowski Patrick Madden City Comptroller Mayor Memo To: Andrew Piotrowski, Deputy Comptroller From: Carolin Skriptshak, Community Development Program Supervisor Date: 8/7/2018 Re: Transfer of CDBG Funds from 2015-2016 account to 2017-2018 account A Resolution transferring $50,000.00 of previously allocated CDBG funds from the 2015-2016 Program Year to reallocate into our CDBG 2017-2018 Lansingburgh Reinvestment Project. PRESENT LAW: The City Council had approved a 2015-2016 One-year Action Plan of its 2015- 2019 Five Year Consolidated Plan. The City’s Citizen Participation Plan of the 5 year strategic plan requires that CDBG/HOME transfers of this nature be authorized by the City Council. PURPOSE: These funds are being re-allocated from an inactive 2015-2016 Solar PV Energy Pilot Program account and are proposed to be transferred to the active 2017-2018 Lansingburgh Reinvestment Project account. Funding the 2017-2018 Lansingburgh Reinvestment Project will help eliminate slums and blight in this neighborhood and help neighborhood low-mod income residents with public infrastructure improvements by partially funding street paving work on completed target blocks. The Solar Photo-Voltaic (PV) Energy Pilot Project studied the topic for a year, resulting in an RFP (Request for Proposals), for which the City received two proposals, with neither proposal awarded. Proposal #1 was determined to be ineligible because it would have provided CDBG funding with direct benefit to a third party solar company with only indirect benefits to the low- mod income homeowner, not meeting HUD program guidelines. The 2nd proposal offered to participate with CDBG funding proposed to be used as a solar p-v energy system purchase incentive grant. Both proposals presumed that existing building roof systems either met the solar energy-p-v system life-span requirements or that the roof systems would be replaced by others prior to system install. FISCAL IMPACT: No negative impact on the City general fund or on City programs/projects is expected because the proposed transfers will provide additional federal funds in the place of City funds for public infrastructure and neighborhood improvements in low/mod income areas. 1  Department of Housing & Community Development Account Transfers (CDBG PROGRAM) CURRENT REVISED ACCOUNT Account Type ACCOUNT # ACTIVITY NAME ACCOUNT TRANSFER OUT TRANSFER IN DESCRIPTION APPROPRIATION APPROPRIATION CONTRACTUAL EXPENSE.CDBG CDBG CD.2015.0400.2000.3020 $50,000.00 ($50,000.00) $0.00 PROG.SOLAR ENERGY PILOT PROG CONTRACTUAL EXPENSE.CDBG CDBG CD.2017.0400.2000.3021 $636,349.55 $50,000.00 $686,349.55 PROG.LANSING TARGERT AREA  Schedule A September 2018 Budget Transfers – CDBG Original Change Revised Department Account No. Description Budget* (+/-) Budget CDBG CD.2015.0400.2000.3020 Solar Energy Pilot Program 50,000.00 (50,000.00) 0.00 CDBG CD.2017.0400.2000.3021 Lansingburgh Target Area 636,349.55 50,000.00 686,349.55 Net Impact On Special Grants Fund 0.00 * Or as previously amended  Res. 90 RESOLUTION AUTHORIZING THE MAYOR TO EXECUTE AN AGREEMENT WITH THE TROY COMMUNITY LAND BANK WHEREAS, The Troy Community Land Bank (TCLB) has been awarded two rounds of grant funding from the Office of the new York State Attorney General in order to carry out community revitalization activities in the City of Troy (City); and WHEREAS, the TCLB and the City wish to execute an agreement outlining the terms and conditions of the contractual obligations; and WHEREAS, the TCLB and the City will continue to collaborate to address previously tax delinquent, vacant and unsightly buildings that contribute the neighborhood blight and have an adverse and negative impact on other properties in the immediate vicinity; and WHEREAS, the TCLB and the City have complimentary areas of expertise and both entities desire to work together as co-developers to facilitate the demolition, renovation and removal of blighted properties to assist in the renewal of neighborhoods in the City; and WHEREAS, the City and the TCLB wish to enter into an agreement setting forth their respective responsibilities with respect to the organizations and the documents that govern them. NOW, THEREFORE, IT IS RESOLVED that the Mayor is authorized to finalize and execute an agreement with the TCLB that is substantially in the form of the attached agreement. Approved as to form, September 4, 2018 __________________________________ James A. Caruso, Esq. Corporation Counsel To: City of Troy, Office of The Mayor Troy City Council From: Catherine M. Hedgeman, Esq. General Counsel Troy Community Land Bank Date: August 22, 2018 Re: Troy Community Land Bank Property Disposition Process The Troy Community Land Bank (TCLB) currently runs an extraordinary property disposition real estate program. As you know, the TCLB was formed by the City Council and is funded through the New York State Attorney General money recovered from the big banks as a result of their bad faith actions that caused the mortgage crisis. Accordingly, the Attorney General’s office and their funding administrator, Enterprise Community Partners have reviewed and approved TCLB’s Land Bank program including enforcement procedures. The property disposition process begins when pursuant to The New York Land Bank Act, TCLB posts all properties for sale on its website. The website has downloadable forms including the property application and a form enforcement note and mortgage that TCLB uses when appropriate. When a perspective buyer submits an application to TCLB for consideration, the applicant is vetted through a background check process that includes a review of the applicant’s credit report, criminal history and any history of delinquent property taxes. Once the buyer passes the initial screening, the application moves to the Acquisition and Disposition Committee for review and recommendation to the Board of Directors. The Acquisition and Disposition Committee reviews the application and may have additional questions and/or requirements of the buyer. Generally, on applications for rehabs, a full property development plan and financial statement is required to be submitted. The Committee then makes a determination as to whether the plan is feasible and whether the applicant has shown proof of funds to complete the project. For reference purposes, the current application is being revised, but a copy is available on the Land Bank’s website. If the Acquisition and Disposition Committee determines that the applicant is qualified and approves the development plan, the application is then submitted to the TCLB board at the next regularly scheduled board meeting. It should be noted that if there is more than one application for the property, the TCLB follows their disposition policy that sets forth the Land Bank’s preferred property uses. A copy of the Disposition Policy is also on the Land Bank’s website. Generally speaking, home ownership/owner-occupied applications are most favored over owner occupied with rental, or rehabs for rental purposes. Once a property application reaches the board agenda, the board has the sole authority to approve or disapprove the sale. Once a sale is approved, the property information comes to the office of legal counsel. My office prepares a contract for sale and an initial letter to the Buyer outlining closing costs (recording fees, taxes, attorneys’ fees, title etc.). A copy of a template contract is also available on the Land Bank’s website. In the contract TCLB sets forth that the Buyer will be subject to certain property restrictions including but not limited to, a deed reverter for nonperformance of a completed project, a five year no flip provision (restricting the resale of the property for five years without the express written consent of the Land Bank) and may even contain a use restriction such as for residential real property. In addition to the reverter, any rehab, new build or tear down project will also require the Buyer to execute and deliver to the Land Bank at closing, an enforcement note and mortgage. This document is also available on the Land Bank’s website. This document places a lien on the property for the purchase price and contains covenants that require the Buyer to complete the project in a certain time frame, generally 12-18 months depending upon the type of project. This note and mortgage gets filed with the county clerk and remains on the property until such time as the property is complete (usually the Buyer needs to produce a Certificate of Occupancy or similar municipal approval. Once the Land Bank visits the property and receives the required documentation, my office will release the enforcement note and mortgage. The deed reverter remains for 5 years unless there is some other legal compelling reason to release it. TCLB is required to monitor the progress of the projects and enforce the terms of the enforcement note. If the Buyer is not making satisfactory progress or does not complete the project at all, the Land Bank uses the legal remedies spelled out in the enforcement note, to take the property back. The note and mortgage contain a required deed in lieu of foreclosure provision as well as the ability to begin a foreclosure action on the mortgage should the Buyer not comply. I have used this mechanism in Albany County and have successfully recovered two properties. It should be noted that the Grantor, the NYS Attorney General/Enterprise Community requires the Land Bank to enforce the note and mortgage pursuant to the Grant Agreement. As you can see the TCLB operates a real estate program designed for the successful reprogramming for blighted properties. Far more review, oversight and enforcement occurs under the TCLB program then ever before in the City of Troy. 2 In addition to explaining how the Land Bank program works, I wanted to outline a few issues we need resolved in order to receive more funding and also to provide legally clear title. Previously the Land Bank has been subject to purchasing property from the City of Troy (other land banks do not pay municipalities for properties) and the property has been subject to reversionary language in the deed to the Land Bank. This has caused various issues depending upon the type of project to be done on the property. Currently the reversion language in the deed from the City to the Land Bank reads as follows: Land Bank must either demolish, stabilize or rehabilitate any building per the assessment plan as mutually agreed upon and approved by the Land Bank and the City Engineer. The City of Troy agrees to release said deed restriction requiring demolition, stabilization or rehabilitation upon the completion of the work as set forth in the assessment plan and within five (5) business days of the Land Banks request for such release. The City of Troy further agrees that the release of any deed restriction shall not be unreasonably withheld. All vacant lots, including side lots, transferred from the City of Troy to the land bank shall not have any deed restriction. This restriction is impractical for several reasons. First and foremost, most properties that the Land Bank acquires from the City require no financial commitment or work from the Land Bank and may be sold “as is.” Even where the Land Bank may perform work on the property, the reverter needs to be released prior to any sale to a new Buyer in order to give clear title to a Buyer. No Buyer seeking title insurance, nor a bank looking to finance Buyer’s project will allow any reverter from the City to be on the property when the Land bank sells. In place of the City’s reverter, the Land Bank places its own reversionary language in the deed and also uses the aforementioned enforcement note and mortgage. Accordingly, every time a property is sold by TCLB we need to get a release from the City and the City Engineer has to come out for inspection. That is neither cost effective nor practical and could hold up a closing for a Buyer who has bank financing and needs to close by a certain date. Clearly, the City’s required reversion language was legislated into the City Code so that the City would have recourse against a Buyer who did not perform or take care of the property. With TCLB’s real estate enforcement program, the City’s reverter clause is not needed and continues to act as an impediment to the quick, efficient disposition of property. As of right now, TCLB has closed several properties that need the reverter released in order to clear title for the Buyer’s. This needs to be done immediately as the reverter language intent was not to hold a TCLB Buyer to the restriction, but was to hold TCLB (unnecessarily and impractical) to certain work at the property that was not even needed in the first place. This issue needs to be addressed immediately. I would suggest a follow up meeting so that I can answer any further questions at your convenience. 3  Operations, Property Acquisition and Conveyance Memorandum of Understanding between the City of Troy, NY and the Troy Community Land Bank This Memorandum of Understanding (“MOU”) is entered on this ___day of ______, 20__, by and between the City of Troy, NY, 433 River Street, Suite 5000, Troy, NY 12180 and the Troy Community Land Bank, with its offices located at 433 River Street, Suite 5000, Troy, NY 12180 (“Land Bank”). Whereas, in enacting the New York Land Bank as Article 16 of New York Not-for-Profit Corporation Law (hereinafter the “Land Bank Act”), the Legislature found that there exists in the state of New York a continuing need to strengthen and revitalize the economy of state of New York and communities in this state to confront the problems caused by vacant, abandoned and tax delinquent properties through the creation of land banks in a coordinated manner to foster the development of that property and to promote economic growth; Whereas, §1603 of the Land Bank Act permits a foreclosing governmental unit (“FGU”) to create a land bank by the adoption of a local ordinance; Whereas, the Parties herein agree that the establishment of a land bank would be beneficial to the Parties and to the citizens of the City of Troy, NY; Whereas, the Parties desire to create the Troy Community Land Bank as a type c not-for-profit corporation to operate as a land bank in accordance with the Land Bank Act and to exercise the powers, duties, functions, and responsibilities of a land bank under the Land Bank Act; and Whereas, this MOU defines the terms of property closings between the City of Troy and the Land Bank; NOW, THEREFORE, it is agreed between the City and the Land Bank that: NEIGHBORHOOD REDEVELOPMENT PLANNING To initiate the process of defining the City’s vision for redevelopment areas, the City and Land Bank shall collaborate on an on-going process of planning for stabilization and the redevelopment of strategic areas. Criteria for selection and planning of the redevelopment areas must include areas where concentrated investment maximizes impact and assists with the transformation, stabilization and economic development of neighborhoods. Such redevelopment planning can include:  Housing;  Neighborhood commercial and/or community services;  Opportunities to attract businesses that produce goods and services and employ people in a sustainable manner;  Infrastructure and Green Space Improvements. A. Database of Property Conditions and Ownership Land Bank, with assistance from City and other technical assistance providers, shall research and analyze existing conditions and ownership of properties within strategic areas using the following tools: 1. Survey of Existing Physical Conditions in terms of where are the: a. Vacant Lots b. Vacant Structures that can be rehabilitated c. Vacant and Blighted structures that need to be demolished d. Blighted and occupied housing e. Commercial and Institutional properties f. Rental and owner-occupied properties that may be candidates for rehab 2. Survey of Property Ownership in terms of: a. Owner-occupied b. Investor rental c. Lender REO Foreclosure d. Tax Foreclosure (including 2 years in arrears) e. City Ownership f. Land Bank Ownership g. Institutional B. Mapping Land Bank with the assistance from the City shall generate a color –coded existing conditions and property ownership map that reflects the data listed above to assist as a tool for planning and property acquisitions for the redevelopment areas in the strategic areas. C. Market Analysis City and Land Bank will work with Comprehensive Planning process and documents adopted to collect base market and demographic data. This will be a consultative tool to look at project and redevelopment feasibility in the defined areas. PROTOCOLS FOR LAND BANK ADMINISTRATION A. Acquisition of property and Protocols for Closings 1. The City of Troy acknowledges that the Land Bank is a tax-exempt organization as a matter of law and shall not be assessed for any real property tax at closing; 2. The City of Troy acknowledges that the Land Bank is exempt pursuant to Section 1608 of the New York Not-For-Profit Law from water and sewer charges, special assessments and ad valorem charges and recording fees.  3. The Land Bank and the City of Troy agree to transfer several properties at a time requiring one deed; 4. The City of Troy acknowledges that the Land Bank may not acquire property having any deed restrictions or reversionary interests. Because it must be able to transfer the property to a new buyer without restriction by any entity other than the Land Bank. B. Staffing The City agrees to provide the Land Bank with an in-kind labor match by the City of Troy staff. The labor match will consist of 15 hours per week. Any additional time needed shall be paid for by the Land Bank pursuant to an outside agreement with the City employee. C. Co-development The City agrees that where they are a party to any Memorandum of Understanding, Contract, or Co- development agreement with the Land Bank, the City will provide the Land Bank with any invoices/payment vouchers and supporting documentation for reimbursement within 14 days of the completion of the work, and/or expenditure of city funds to complete work. If the Land Bank does not receive the appropriate invoice and supporting documentation within 14 days, the Land Bank and its funder, Enterprise reserve the right to refuse payment. D. Fifty over 5 Pursuant to NPCL 1610, the Land Bank and the City of Troy agree to collaborate on the adoption of a local law directing that 50% of the real property taxes collected on any specific parcel of real property may be remitted to the land bank. IN WITNESS WHEREOF, the Parties have executed this Memorandum of Understanding as of the date first written above. CITY OF TROY, NY TROY COMMUNITY LAND BANK ____________________________ ______________________________ Print Name:__________________ Print Name:____________________ Title: _______________________ Title:__________________________ An authorized signatory An authorized signatory  RES#91 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TROY AUTHORIZING THE EXECUTION OF A RELEASE OF REVERTER WHEREAS, the City of Troy (the “City”), as Grantor, executed that certain deed to Beltrone Construction Co., Inc., as Grantee, dated February 25, 1981 and recorded May 14, 1981 in the Office of the Rensselaer County Clerk in Book 1334 page 455 (the “Deed”), conveying real property located at Oakwood Avenue, City of Troy, New York and more particularly described on the Tax Map for the City of Troy as Section 90.56, Block 1, Lot 1 (the “Property”); and WHEREAS, the City included a provision in the Deed that a building shall be erected on the Property within one (1) year from the date of the Deed and that title to the Property will revert back to the City in the event that Beltrone Construction Co., Inc., or its successors and/or assigns, shall fail to comply; and WHEREAS, the Property remains unimproved and, to date, the City has not exercised its right to take title to the Property; and WHEREAS, the current owner of the Property, Yonna Realty, Inc., has entered into a Purchase and Sale Agreement to sell the Property to BCREI New York LLC dated November 30, 2016, as amended by the First Amendment to Purchase and Sale Agreement dated September 25, 2017 (collectively referred to as the “Purchase Agreement”). Said Purchase Agreement will be assigned to MLK 2 Associates Limited Partnership, a New York limited partnership (the “Partnership”), an affiliate entity of BCREI New York LLC; and WHEREAS, the Partnership and MLK 2 Housing Development Fund Company, Inc., a to-be-formed Article XI New York private housing finance law corporation and a New York not- for-profit corporation (the “HDFC”) plan to construct and operate on the Property a portion of that certain fifty-eight (58) unit affordable housing apartment complex to be known and designated as Martin Luther King Revitalization – Phase 2 (the “Project”); and WHEREAS, the City desires to encourage a sufficient supply of adequate, safe and sanitary dwelling accommodations properly planned for persons with low income; and WHEREAS, in order to facilitate the development of the Project, the City desires to terminate the right of reverter granted in the Deed; NOW THEREFORE, BE IT RESOLVED that the City Council hereby authorizes the release of the City’s reversionary interest in said Property; and it is FURTHER RESOLVED, that the Mayor of the City is hereby authorized to execute and deliver, on behalf of the City, a release of reverter in substantially the same form as the Release of Reverter attached hereto; and it is FURTHER RESOLVED, that this resolution shall take effect immediately. Approved as to form, September 4, 2018 __________________________________ James A. Caruso, Esq. Corporation Counsel  Steven Strichman Patrick Madden Commissioner Mayor Department of Planning and Economic Development To: City Council From: Steven Strichman - to be addressed at meeting by Deb Witkowski Date: August 31, 2018 Re: Release of Reverter – Oakwood Avenue 90.56, Block 1, Lot 1 As part of their RAD conversion, THA has purchased a property previously sold by the City of Troy in 1981 with a reverter agreement. The reverter requirement was not undertaken by the owner, and has never been enforced by the City of Troy. THA is requesting that Troy releases this 47 year old reverter which will allow them to proceed with their financing and further density reduction of Martin Luther King Apartments. Over the past several years, the Troy Housing Authority (THA) and Beacon Communities have been redeveloping the Martin Luther King Apartments (MLK) complex on Eddy’s Lane. MLK was built in 1971 and is a community of the THA. The project will preserve this affordable housing resource in the community. MLK Apartments requires a major revitalization to correct deficiencies of the original design; to correct the physical deterioration which is ongoing; and to replace functionally obsolete systems. The plan includes the preservation of 104 affordable housing units. The density of the MLK site will be reduced to 83 apartment units. The MLK project consists of two phases. Phase 1 is currently nearing construction completion and included the gut rehabilitation of 6 apartment buildings resulting in 46 dwelling units. Phase 2 (the second and final phase) involves the selective demolition and moderate rehabilitation of 5 existing building and the new construction of 11 two-story townhouses; resulting in 37 rehab units and 21 new units – totaling 58 dwelling units. I recommend in favor of releasing this reverter agreement which allows the Housing Authority to undertake a major quality of life upgrade at the Martin Luther King site. City Hall – 433 River Street, Suite 5001, Troy New York 12180 (518) 279-7166 Steven.Strichman@troyny.gov  RELEASE OF REVERTER WHEREAS, the CITY OF TROY, NEW YORK, a New York incorporated municipality, having its principal office located at 433 River Street, Troy, New York 12180 (the “City”), owns and holds a Reverter interest in and to real property as a result of a Deed dated February 25, 1981 and recorded with the Rensselaer County Clerk on May 14, 1981 in Book 1334 of Deeds at Page 455, hereinafter referred to as the “Reverter” encumbering certain real property situated at Oakwood Avenue in the City of Troy, New York (hereinafter referred to as the “Property”) and being more particularly described as Section 90.56, Block 1, Lot 1; and WHEREAS, it has been requested that the City release its Reverter. NOW, THEREFORE, and in consideration of One Dollar ($1.00) the City of Troy agrees as follows: 1. The foregoing statements are true and correct. 2. The City of Troy hereby releases its Reverter interest in said real property located at Oakwood Avenue and described as SBL #90.56-1-1. IN WITNESS WHEREOF, the CITY OF TROY has executed this Release and Reverter this ____ day of August, 2018. CITY OF TROY By: Name Title: STATE OF NEW YORK ) ) ss: COUNTY OF RENSSELAER ) On this ____ day of August, 2018, before me, the undersigned appeared, ___________________, personally known to me, or proved to me on the basis of satisfactory evidence to the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their signature(s) on the instrument, the individual(s) or the person upon behalf of which the individual(s) acted, executed this instrument. _____________________________________ NOTARY PUBLIC/STATE OF NEW YORK  PRELIMINARY INVOICE RE: Oakwood Avenue File Number: CT17-30545-ALB Troy, NY Invoice Number: 350468 To be advised Invoice Date: 6/2/2017 Yonna Realty Inc. Customer Ref #: To: From: Duncan Barrett Beacon Communities Development LLC Chicago Title Insurance Services, LLC 54 State Street 80 State Street Suite 802 Albany, NY 12207 Albany, NY 12207 Description Acct Liability Amount Quantity Total Code Recording Service Fee 8866 $50.00 1 $50.00 Escrow Service Fee 5020 $75.00 1 $75.00 Fee w/sim Mortgage =<1M 1137 $0.00 1 $0.00 Simultaneous Loan 3202 $0.00 1 $0.00 Notes: Subtotal $125.00 * Tax @ $0.00 Please Remit To: Grand Total $125.00 Chicago Title Insurance Services, LLC 80 State Street Albany, NY 12207 518-436-9711 Please be advised that FNTG has implemented a rate calculator for your convenience to enable you to calculate your title insurance rates. The website can be accessed at www.nyrates.fntg.com. Title costs for this transaction may include charges for certain services not specified in the TIRSA rate manual and provided at the request of your lender or attorney. The issuance of title policy is not dependent upon the performance of such additional services. Thank you! Invoice 7/19/2017 4:51:15 PM Page 1  CHICAGO TITLE INSURANCE SERVICES, LLC 80 State Street, Albany, NY 12207 Phone: 518-436-9711 Fax: 518-436-0891 Thank you for placing this order with Chicago Title Insurance Services, LLC. Let us know of any changes that need to be made. Applicant: Title Number: CT17-30545-ALB Duncan Barrett Date of Application: May 10, 2017 Beacon Communities Development LLC Sales Representative: Penny Epler-Carl 54 State Street Phone Number: 518-436-9711 Suite 802 Customer Reference Number: Albany, NY 12207 Phone: 518-284-0884 Fax: e-mail: dbarrett@beaconcommunitiesllc.com Transaction type: Purchase/Resale Owner Liability: $0.00 Mortgage Liability: $0.00 Purchaser/Borrower: To be advised Seller: Yonna Realty Inc. Lender: Premises: Oakwood Avenue, Troy, NY County: Rensselaer Municipality: Troy Property Type: Vacant Land Attorney for Buyer/Borrower: Caryn Cahill Cannon Heyman & Weiss, LLP 54 State Street, 5th Floor Albany NY 12207 Phone: 518-465-1500 Fax: 518-465-6678 e-mail: ccahill@chwattys.com Attorney For Seller: Additional Copies: COPY TO: Donald Zee, P.C. BRUCE SNYDER 1 Winners Circle, Suite 140 bsnyder@delta-eas.com Albany, NY 12205 and Phone: 518-489-9423 Fax: 518-489-9428 Tim O'Byrne e-mail: donaldzeepc@msn.com tobyrne@BeaconCommunitiesLLC.com Additional Searches Ordered: Additional Remarks: 08/14/2017 4:50:30 PM D-Killion  Title Number: CT17-30545-ALB CERTIFICATE FOR TITLE INSURANCE Issued by Chicago Title Insurance Company Chicago Title Insurance Company, a Florida corporation, herein called the Company, certifies to the Applicant that an examination of title to premises described in Schedule A has been made in accordance with its usual procedure and agrees to issue the ALTA (6/17/06) Owner's or Lender's form of insurance policy as modified by the New York Coverage Endorsements in the amount and for the transaction set forth herein and subject to the exclusions from coverage and the conditions and stipulations therein contained. After the closing of the transaction, in conformance with the requirements and procedures of the Company, the Company will issue the policy and except (i) all loss or damage by reason of the estates, interests, defects, objection, liens, encumbrances and other matters set forth in Schedule B herein that are not disposed of to the satisfaction of the Company prior to such closing or issuance of the policy (ii) any questions or objections coming to the attention of the Company before the date of closing, or if there be no closing, before the issuance of the policy IN WITNESS WHEREOF, Chicago Title Insurance Company has caused its corporate name and seal to be hereunto affixed by its duly authorized officers on the date shown in Schedule A. Questions concerning the within Certificate should be directed to: Underwriter's Name and Phone Number: Penny Epler-Carl 518-436-9711 Penny.Epler-Carl@ctt.com CHICAGO TITLE INSURANCE COMPANY Issued by: By: Chicago Title Insurance Services, LLC 80 State Street Albany, NY 12207 Raymond R. Quirk President Dated: May 1, 2017 By: Certified by: Michael L. Gravelle Secretary Penny Epler-Carl Redated by: Oakwood Avenue, Troy, NY This certificate is intended for lawyers only. Such exceptions as may be set forth herein may affect marketability of title. Your lawyer should be consulted before taking any action based upon the contents of this certificate. The Company's representative at the closing hereunder may not act as legal advisor to any of the parties or draw legal instruments for them. Such representative is permitted to be of assistance only to an attorney. It is advisable to have your attorney present at the closing. 07NYCJ1 Certificate for Title Insurance 08/14/2017 4:50:36 PM D-Killion  Title Number: CT17-30545-ALB CHICAGO TITLE INSURANCE COMPANY This report is not a title insurance policy! Please read it carefully. The report may set forth exclusions under the title insurance policy and may not list all liens, defects, and encumbrances affecting title to the property. You should consider this information carefully. EFFECTIVE DATE: May 1, 2017 Redated: UNDERWRITER: Penny Epler-Carl ALTA Owner's Policy - 6/17/06 "TO BE DETERMINED" PROPOSED INSURED: To be advised ALTA Loan Policy - 6/17/06 "TO BE DETERMINED" PROPOSED INSURED: BORROWER: To be advised The estate or interest in the land described or referred to in this certificate and covered herein is: Fee Simple Title to said estate or interest in said land at the effective date hereof vested in: YONNA REALTY, INC Title acquired by virtue of a certain deed from BELTRONE CONSTRUCTION CO., INC, dated December 31, 2002, and recorded in the Rensselaer County Clerk's Office on January 6, 2003, in Roll 390 frame 1695. The land referred to in this certificate is described as follows: -SEE ATTACHED DESCRIPTION- Property: Oakwood Avenue, Troy, Rensselaer County, NY 07NYCA 5/07 SCHEDULE A 08/14/2017 4:50:39 PM D-Killion  Title Number: CT17-30545-ALB SCHEDULE A DESCRIPTION ALL THAT PIECE OR PARCEL OF LAND, situate, lying and being in the City of Troy, Rensselaer County, and State of New York, more particularly bounded and described as follows: BEGINNING at a point on the westerly line of Oakwood Avenue as it is intersected by the southerly line of Lot #1 of William E. Dunn Development and runs thence S 28 deg. 36' W along the westerly line of Oakwood Avenue a distance of 300.8 feet; thence S 19 deg. 51' W along the westerly line of Oakwood Avenue a distance of 566.0 feet to the northeast corner of lands of the City of Troy; thence along the northerly line of lands of the City of Troy the following four (4) courses: N 8 deg. 58' W a distance of 100.5 feet N 21 deg. 6' W a distance of 112.0 feet N 35 deg. 47' W a distance of 83.0 feet N 74 deg. 32' W a distance of 286.0 feet to the northwesterly corner of lands of the City of Troy; thence S 28 deg. 18' W along the westerly line of lands owned by the City of Troy a distance of 214.0 feet; thence N 60 deg. 12' W a distance of 361.48 feet; thence N 7 deg. 32' W a distance of 330.0 feet; thence N 83 deg. 58' E a distance of 136.45 feet to the southerly line of a 60 foot roadway; thence N 43 deg. 29' E a distance of 20.25 feet to the southeast corner of a 15.51 acre parcel formerly of N.E.S. Associates, Inc.; thence N 34 deg. 21' E along the southerly line of said parcel a distance of 1004.53 feet to the southerly line of lands of Troy Cemetery Association; thence S 74 deg. 5' E along said southerly line a distance of 232.80 feet to the westerly line of the William E. Dunn Development; thence S 20 deg. 20' W a distance of 322.40 feet to the southerly line of the William E. Dunn Development; thence S 68 deg. 40' E along the southerly line of the William E. Dunn Development a distance of 452.0 feet to the point and place of beginning. EXCEPTING from the above described premises a parcel of land conveyed by Russell Sage College to the City of Troy, by deed dated July 2, 1962 and recorded July 12, 1962 in Rensselaer County Clerk's Office in Book of Deeds 1106 at page 75. EXCEPTING FURTHER, the following conveyances heretofore made by N E S Associates, Inc. to City of Troy: Deed dated July 31, 1970 and recorded in the Rensselaer County Clerk's Office September 9, 1970 in Book of Deeds 1220 at page 443, and Deed dated March 27, 1974 and recoded in the Rensselaer County Clerk's Office April 4, 1974 in Book of Deeds 1259 at page 527. EXCEPTING FURTHER from the above described premises a parcel of land conveyed by Yonna Realty, Inc. to Troy Housing Authority, by deed dated May 31, 2016 and recorded in the Rensselaer County Clerk's Office on June 7, 2016 in Book 7836 at page 231. 08/14/2017 4:50:41 PM D-Killion  Title Number: CT17-30545-ALB SCHEDULE B-1 (REQUIREMENTS) The following are requirements to be complied with for a title policy to issue: 1. Obtain and record a release of the right of reverter in favor of the City of Troy, New York, set forth in deed recorded in Book 1334 page 455. 2. Proof of payment of New York State Franchise taxes against Yonna Realty Inc. from date of incorporation to date of closing must be submitted to the Company at or prior to closing. 3. Satisfactory proof of good standing and proof of authority for the conveyance by the corporation shall be established. 4. If the present transaction consists in whole or in part of the making of a conveyance or lease by a corporate grantor or lessor, a certified copy of the resolution of the board of directors of the corporation is required. Proof must also be submitted that the consent of the stockholders of the corporation is not required either by its certificate of incorporation or any amendments thereto for the making of said conveyance or lease. The conveyance or lease must contain a recital that the property described therein does not constitute all or substantially all of the assets of the corporation, or that the disposition of such property was made in the usual or regular course of business, or that the shareholders of the corporation have duly authorized such disposition. 5. All parties will be required to provide photo identification and social security numbers to the Company's representative at closing. 6. Mortgage returned herein (One). Detailed statement within. 7. Taxes, tax liens, tax sales, sewer and assessments set forth herein. Results to follow. 8. Deeds and mortgages must contain the covenant required by Section 13 of the Lien Law and such covenant must be absolute and not conditional. The covenant is not required in deeds from referees or other persons appointed by a court for the sole purpose of selling property. 9. The nature of the transaction to be insured herein must be disclosed to the Company prior to closing. Title may be subject to additional exceptions as may be appropriate after disclosure of the type of transaction. 10. This Company requires that a TITLE RUNDOWN BE ORDERED AT LEAST 24 HOURS PRIOR TO CLOSING. Title will then be recertified accordingly and additional exceptions may be raised. 11. For Information: Searches have been run vs. the certified owner(s) herein for judgments and federal tax liens. Returns, if any, appear herein. 12. For Information: A UCC search has been made of the unexpired filings in the New York State Department of State against Yonna Realty Inc and no returns were found. 13. For Information: As of the effective date of this commitment, the mortgage recording tax in Rensselaer County is 1.25%. The Real Estate Transfer Tax is $4.00 per thousand. 08/14/2017 4:50:42 PM D-Killion  Title Number: CT17-30545-ALB SCHEDULE B-1 REQUIREMENTS (CONTINUED) 14. NOTICE: A recent memo from the Rensselaer county clerk states that: EFFECTIVE February 20, 2017, THE RENSSELAER COUNTY CLERK WILL NO LONGER RETURN, ( and will destroy after validation) ALL ORIGINAL RECORDINGS WHICH ARE NOT ACCOMPANIED BY A SELF-ADDRESSED RETURN ENVELOPE. 15. Upon completion of an appropriate Title Affidavit, Notice of Availability and payment of the appropriate premium, where applicable, the following endorsement(s) will be added to the final policy(ies): (X) Standard New York Endorsement (Loan Policy) (X) Standard New York Endorsement (Owner's Policy) (X) Policy Authentication Endorsement (Owner's & Loan Policy) ( ) Variable Rate Endorsement ( ) Other (as listed): 08/14/2017 4:50:42 PM D-Killion  Title Number: CT17-30545-ALB SCHEDULE B-2 (EXCEPTIONS) The policy will include as exceptions to title the following matters unless they are disposed of to the satisfaction of the Company: 1. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date hereof but prior to the date the proposed insured acquires for value of record the estate or interest or mortgage thereon covered by the Certificate. 2. Water and Sewer Rents, not included in the regular Town, City, or Village Real Estate Tax Bill, are not searched for unless expressly stated, and are not insured against. 3. Rights of tenants or persons in possession. 4. Any facts that would be disclosed by an accurate survey or inspection of the land. 5. Rights, easements and encroachments, if any, for utility poles, wires, lines, guy wires, pipes, drains, and similar installations, together with such rights as may exist to operate, maintain and repair the same. 6. Easement in favor of Niagara Mohawk Power Corporation recorded in Liber 1212 page 133. 7. Easement in favor of the City of Troy, New York recorded in Liber 1551 page 213. 08/14/2017 4:50:44 PM D-Killion  Title Number: CT17-30545-ALB MORTGAGES 1. Obtain and record discharges, terminations and/or releases for the following instruments: Mortgage in the amount of $100,000.00 and interest made by NES Associates, Inc to Marine Midland National Bank of Troy dated June 11, 1970 and recorded December 11, 1970 in the Rensselaer County Clerk's Office in Liber 1072 at page 947. The above mortgage covers the insured premises together with other premises not insured hereunder. This certificate does not purport to show all the terms and provisions of the preceding mortgage(s). Interested parties should communicate with the holder(s) thereof to consider the terms thereof, the obligation(s) secured and the effect of any unrecorded agreements in modification thereof. 08/14/2017 4:50:45 PM D-Killion  Title Number: CT17-30545-ALB TAX SEARCH RETURNS Our policy does not insure against taxes, water rates, assessments and other matters relating to taxes which have not become a lien up to the date of the policy or installments due after the date of the policy. Neither our tax search nor our policy covers any part of the streets on which the premises to be insured abut. For information only, we set forth the assessed valuation for the current year. Taxes, assessments, water rates and sewer charges which are liens on the real property: 1. SECTION/BLOCK/LOT 90.56-1-1 CITY: Troy PREMISES: Oakwood Avenue ASSESSED TO: Yonna Realty LAND VALUE Assessed: $155,400.00 Full: $155,400.00 SWIS Code: 381700 Acreage/Sq Ft.: 16.24 EXEMPTION Type: NONE Amount: SCHOOL DISTRICT: Troy PROPERTY CLASS CODE: 311 2017 City and County Tax Total: $3,347.08 1st Half Due 1-1-2017: $1,673.55 -paid- 2nd Half Due 7-1-2017: $1,673.53 -paid- 2017-2018 School Tax Total: $3,367.98 1st Half due 7-1-2017: $1,683.99 -paid- 2nd Half due 1-1-2018: $1,683.99 -open- 08/14/2017 4:50:46 PM D-Killion  FIDELITY NATIONAL FINANCIAL PRIVACY NOTICE At Fidelity National Financial, Inc., we respect and believe it is important to protect the privacy of consumers and our customers. This Privacy Notice explains how we collect, use, and protect any information that we collect from you, when and to whom we disclose such information, and the choices you have about the use of that information. A summary of the Privacy Notice is below, and we encourage you to review the entirety of the Privacy Notice following this summary. You can opt-out of certain disclosures by following our opt-out procedure set forth at the end of this Privacy Notice. Types of Information Collected . You may provide us How Information is Collected. We may collect personal with certain personal information about you, like your information from you via applications, forms, and contact information, address demographic information, correspondence we receive from you and others related to social security number (SSN), driver's license, passport, our transactions with you. When you visit our websites other government ID numbers and/or financial from your computer or mobile device, we automatically information. We may also receive browsing information collect and store certain information available to us from your Internet browser, computer and/or mobile through your Internet browser or computer equipment to device if you visit or use our websites or applications. optimize your website experience. Use of Collected Information . We request and use your When Information Is Disclosed . We may disclose your personal information to provide products and services to information to our affiliates and/or nonaffiliated parties you, to improve our products and services, and to providing services for you or us, to law enforcement communicate with you about these products and services. agencies or governmental authorities, as required by law, We may also share your contact information with our and to parties whose interest in title must be determined. affiliates for marketing purposes. Choices With Your Information. Your decision to Information From Children. We do not knowingly submit information to us is entirely up to you. You can collect information from children who are under the age opt-out of certain disclosure or use of your information or of 13, and our website is not intended to attract children. choose to not provide any personal information to us. Privacy Outside the Website. We are not responsible for International Users. By providing us with you the privacy practices of third parties, even if our website information, you consent to its transfer, processing and links to those parties' websites. storage outside of your country of residence, as well as the fact that we will handle such information consistent with this Privacy Notice. The California Online Privacy Protection Act . Some FNF companies provide services to mortgage loan servicers and, in some cases, their websites collect information on behalf of mortgage loan servicers. The mortgage loan servicer is responsible for taking action or making changes to any consumer information submitted through those websites. Your Consent To This Privacy Notice . By submitting Access and Correction; Contact Us. If you desire to information to us or by using our website, you are contact us regarding this notice or your information, accepting and agreeing to the terms of this Privacy Notice. please contact us at privacy@fnf.com or as directed at the end of this Privacy Notice. Effective May 1, 2015; Last updated March 1, 2017 Copyright © 2017. Fidelity National Financial, Inc. All Rights Reserved.  FIDELITY NATIONAL FINANCIAL PRIVACY NOTICE Fidelity National Financial, Inc. and its majority-owned subsidiary companies providing title insurance, real estate- and loan-related services (collectively, “ FNF” ,“our”or “ we”) respect and are committed to protecting your privacy. We will take reasonable steps to ensure that your Personal Information and Browsing Information will only be used in compliance with this Privacy Notice and applicable laws. This Privacy Notice is only in effect for Personal Information and Browsing Information collected and/or owned by or on behalf of FNF, including Personal Information and Browsing Information collected through any FNF website, online service or application (collectively, the “Website” ). Types of Information Collected We may collect two types of information from you: Personal Information and Browsing Information. Personal Information. FNF may collect the following categories of Personal Information: ·contact information (e.g., name, address, phone number, email address); ·demographic information (e.g., date of birth, gender, marital status); ·social security number (SSN), driver's license, passport, and other government ID numbers; ·financial account information; and ·other personal information needed from you to provide title insurance, real estate- and loan-related services to you. Browsing Information. FNF may collect the following categories of Browsing Information: ·Internet Protocol (or IP) address or device ID/UDID, protocol and sequence information; ·browser language and type; ·domain name system requests; ·browsing history, such as time spent at a domain, time and date of your visit and number of clicks; ·http headers, application client and server banners; and ·operating system and fingerprinting data. How Information is Collected In the course of our business, we may collect Personal Information about you from the following sources: ·applications or other forms we receive from you or your authorized representative; ·the correspondence you and others send to us; ·information we receive through the Website; ·information about your transactions with, or services performed by, us, our affiliates or nonaffiliated third parties; and ·information from consumer or other reporting agencies and public records maintained by governmental entities that we obtain directly from those entities, our affiliates or others. If you visit or use our Website, we may collect Browsing Information from you as follows: ·Browser Log Files. Our servers automatically log each visitor to the Website and collect and record certain browsing information about each visitor. The Browsing Information includes generic information and reveals nothing personal about the user. ·Cookies. When you visit our Website, a “ cookie”may be sent to your computer. A cookie is a small piece of data that is sent to your Internet browser from a web server and stored on your computer's hard drive. When you visit a website again, the cookie allows the website to recognize your computer. Cookies may store user preferences and other information. You can choose whether or not to accept cookies by changing your Internet browser settings, which may impair or limit some functionality of the Website. Effective May 1, 2015; Last updated March 1, 2017 Copyright © 2017. Fidelity National Financial, Inc. All Rights Reserved. Use of Collected Information Information collected by FNF is used for three main purposes: ·To provide products and services to you or any affiliate or third party who is obtaining services on your behalf or in connection with a transaction involving you. ·To improve our products and services. ·To communicate with you and to inform you about our, our affiliates' and third parties' products and services, jointly or independently. When Information Is Disclosed We may provide your Personal Information (excluding information we receive from consumer or other credit reporting agencies) and Browsing Information to various individuals and companies, as permitted by law, without obtaining your prior authorization. Such laws do not allow consumers to restrict these disclosures. Please see the section “ Choices With Your Personal Information”to learn how to limit the discretionary disclosure of your Personal Information and Browsing Information. Disclosures of your Personal Information may be made to the following categories of affiliates and nonaffiliated third parties: ·to third parties to provide you with services you have requested, and to enable us to detect or prevent criminal activity, fraud, material misrepresentation, or nondisclosure; ·to our affiliate financial service providers for their use to market their products or services to you; ·to nonaffiliated third party service providers who provide or perform services on our behalf and use the disclosed information only in connection with such services; ·to nonaffiliated third party service providers with whom we perform joint marketing, pursuant to an agreement with them to market financial products or services to you; ·to law enforcement or other governmental authority in connection with an investigation, or civil or criminal subpoena or court order; ·to lenders, lien holders, judgment creditors, or other parties claiming an interest in title whose claim or interest must be determined, settled, paid, or released prior to closing; and ·other third parties for whom you have given us written authorization to disclose your Personal Information. We may disclose Personal Information and/or Browsing Information when required by law or in the good-faith belief that such disclosure is necessary to: ·comply with a legal process or applicable laws; ·enforce this Privacy Notice; ·investigate or respond to claims that any material, document, image, graphic, logo, design, audio, video or any other information provided by you violates the rights of a third party; or ·protect the rights, property or personal safety of FNF, its users or the public. We maintain reasonable safeguards to keep your Personal Information secure. When we provide Personal Information to our affiliates or third party service providers as discussed in this Privacy Notice, we expect that these parties process such information in compliance with our Privacy Notice or in a manner that is in compliance with applicable privacy laws. The use of your information by a business partner may be subject to that party's own Privacy Notice. Unless permitted by law, we do not disclose information we collect from consumer or credit reporting agencies with our affiliates or others without your consent. We reserve the right to transfer your Personal Information, Browsing Information, and any other information, in connection with the sale or other disposition of all or part of the FNF business and/or assets, or in the event of our bankruptcy, reorganization, insolvency, receivership or an assignment for the benefit of creditors. You expressly agree and consent to the use and/or transfer of the foregoing information in connection with any of the above described proceedings. We cannot and will not be responsible for any breach of security by a third party or for any actions of any third party that receives any of the information that is disclosed to us. Effective May 1, 2015; Last updated March 1, 2017 Copyright © 2017. Fidelity National Financial, Inc. All Rights Reserved. Choices With Your Information Whether you submit Personal Information or Browsing Information to FNF is entirely up to you. If you decide not to submit Personal Information or Browsing Information, FNF may not be able to provide certain services or products to you. The uses of your Personal Information and/or Browsing Information that, by law, you cannot limit, include: · for our everyday business purposes - to process your transactions, maintain your account(s), to respond to law enforcement or other governmental authority in connection with an investigation, or civil or criminal subpoenas or court orders, or report to credit bureaus; · for our own marketing purposes; · for joint marketing with financial companies; and · for our affiliates' everyday business purposes - information about your transactions and experiences. You may choose to prevent FNF from disclosing or using your Personal Information and/or Browsing Information under the following circumstances (“ opt-out”): · for our affiliates' everyday business purposes - information about your creditworthiness; and · for our affiliates to market to you. To the extent permitted above, you may opt-out of disclosure or use of your Personal Information and Browsing Information by notifying us by one of the methods at the end of this Privacy Notice. We do not share your personal information with non-affiliates for their direct marketing purposes. For California Residents: We will not share your Personal Information and Browsing Information with nonaffiliated third parties, except as permitted by California law. Currently, our policy is that we do not recognize “ do not track”requests from Internet browsers and similar devices. For Nevada Residents: You may be placed on our internal Do Not Call List by calling (888) 934-3354 or by contacting us via the information set forth at the end of this Privacy Notice. Nevada law requires that we also provide you with the following contact information: Bureau of Consumer Protection, Office of the Nevada Attorney General, 555 E. Washington St., Suite 3900, Las Vegas, NV 89101; Phone number: (702) 486-3132; email: BCPINFO@ag.state.nv.us. For Oregon Residents: We will not share your Personal Information and Browsing Information with nonaffiliated third parties for marketing purposes, except after you have been informed by us of such sharing and had an opportunity to indicate that you do not want a disclosure made for marketing purposes. For Vermont Residents: We will not share your Personal Information and Browsing Information with nonaffiliated third parties, except as permitted by Vermont law, such as to process your transactions or to maintain your account. In addition, we will not share information about your creditworthiness with our affiliates except with your authorization. For joint marketing in Vermont, we will only disclose your name, contact information and information about your transactions. Information From Children The Website is meant for adults and is not intended or designed to attract children under the age of thirteen (13).We do not collect Personal Information from any person that we know to be under the age of thirteen (13) without permission from a parent or guardian. By using the Website, you affirm that you are over the age of 13 and will abide by the terms of this Privacy Notice. Privacy Outside the Website The Website may contain links to other websites. FNF is not and cannot be responsible for the privacy practices or the content of any of those other websites. Effective May 1, 2015; Last updated March 1, 2017 Copyright © 2017. Fidelity National Financial, Inc. All Rights Reserved. International Users FNF's headquarters is located within the United States. If you reside outside the United States or are a citizen of the European Union, please note that we may transfer your Personal Information and/or Browsing Information outside of your country of residence or the European Union for any of the purposes described in this Privacy Notice. By providing FNF with your Personal Information and/or Browsing Information, you consent to our collection and transfer of such information in accordance with this Privacy Notice. The California Online Privacy Protection Act For some FNF websites, such as the Customer CareNet (“ CCN” ), FNF is acting as a third party service provider to a mortgage loan servicer. In those instances, we may collect certain information on behalf of that mortgage loan servicer via the website. The information which we may collect on behalf of the mortgage loan servicer is as follows: ·first and last name; ·property address; ·user name and password; ·loan number; ·social security number - masked upon entry; ·email address; ·three security questions and answers; and ·IP address. The information you submit through the website is then transferred to your mortgage loan servicer by way of CCN. The mortgage loan servicer is responsible for taking action or making changes to any consumer information submitted through this website. For example, if you believe that your payment or user information is incorrect, you must contact your mortgage loan servicer. CCN does not share consumer information with third parties, other than (1) those with which the mortgage loan servicer has contracted to interface with the CCN application, or (2) law enforcement or other governmental authority in connection with an investigation, or civil or criminal subpoenas or court orders. All sections of this Privacy Notice apply to your interaction with CCN, except for the sections titled “ Choices with Your Information”and “ Access and Correction.”If you have questions regarding the choices you have with regard to your personal information or how to access or correct your personal information, you should contact your mortgage loan servicer. Your Consent To This Privacy Notice By submitting Personal Information and/or Browsing Information to FNF, you consent to the collection and use of the information by us in compliance with this Privacy Notice. Amendments to the Privacy Notice will be posted on the Website. Each time you provide information to us, or we receive information about you, following any amendment of this Privacy Notice will signify your assent to and acceptance of its revised terms for all previously collected information and information collected from you in the future. We may use comments, information or feedback that you submit to us in any manner that we may choose without notice or compensation to you. Accessing and Correcting Information; Contact Us If you have questions, would like to access or correct your Personal Information, or want to opt-out of information sharing with our affiliates for their marketing purposes, please send your requests to privacy@fnf.com or by mail or phone to: Fidelity National Financial, Inc. 601 Riverside Avenue Jacksonville, Florida 32204 Attn: Chief Privacy Officer (888) 934-3354 Effective May 1, 2015; Last updated March 1, 2017 Copyright © 2017. Fidelity National Financial, Inc. All Rights Reserved.  OWNER/SELLER AFFIDAVIT State of New York County of ____________________ I, Yonna Realty Inc., being duly sworn, depose and say as follows, knowing that Chicago Title Insurance Company will rely upon the truthfulness of the statements herein: 1. I am the owner of the premises known as Oakwood Avenue, Troy, NY as described in Title Report No. CT17-30545-ALB. 2. I have owned and occupied the premises for _______ years, peacefully and undisturbed. To my knowledge, the title to the premises has never been questioned and I know of no reason that anyone might claim any right, title or interest in or to any portion of the premises. 3. There are no unpaid taxes, assessments, water/sewer charges against the premises now due and owing. 4. There have been no buildings or exterior improvements constructed on the premises within the last 2 years except: __________________________________________________________________________ (If applicable) A survey dated ___________________ made by __________________________ shows the premises as they exist today except: _________________________________________________________________________________ 5. The premises are used solely for residential purposes. There are no tenants, lessees or other persons in possession of any portion of the premises except: _________________________________________________________________________________ (if applicable) Such tenants are month-to-month or pursuant to written lease for terms not in excess of ______ months without the right to renew. No lease contains an option to purchase. 6. I have allowed no one to encroach on the premises, to have any easements thereon or to use any portion thereof for any purpose. There are no rights of way or common driveways located on the premises. I have not encroached on any adjoining premises. I have no knowledge of any violation of any covenants, restrictions or agreements affecting the premises. 7. I have been known by no other name within the last ten years, except ______________________________ There are no unsatisfied judgments or liens against me anywhere. I have never been the subject of a bankruptcy proceeding. 8. (If applicable) I have read the list of judgments and liens contained in the Commitment. They are not against me, but are against another person with the same or a similar name. I have never resided or conducted business at any of the addresses shown for the judgment debtor. 9. If Chicago Title Insurance Services, LLC is forwarding payment to the holder of an existing mortgage in satisfaction of my indebtedness, I agree to pay any additional sums which may be required by such holder to obtain a discharge of such mortgage. I appoint Chicago Title Insurance Services, LLC my agent for the purposes of taking any actions necessary to obtain such discharge. 10. If this is a sale, I am not taking back a purchase money mortgage, lease or option as part of the sale price. 11. For the purposes of compliance with Sec. 265-a of the RPL (Home Equity Theft Prevention Act) I state that there are no lawsuits or proceedings pending to foreclose a mortgage or tax lien affecting the premises and that the premises are not subject to a mortgage which is in default (more than 2 months in arrears). Sworn and subscribed to before me this Yonna Realty Inc. ______________ day of ______________, 20 ______ By ___________________________________________ Name: Notary Public 08/14/2017 4:50:48 PM D-Killion  PURCHASER'S HOME EQUITY THEFT PREVENTION AFFIDAVIT State of New York ) )ss. County of __________________ ) Premises Oakwood Avenue, Troy, NY : To be advised, being duly sworn, deposes and says: 1. I am the purchaser of the captioned premises and I am familiar with the contract of sale affecting said premises. 2. The transaction is exempt from the provisions of Section 265-a of the Real Property Law (the Home Equity Theft Protection Act) because the premises herein is being purchased: (STRIKE OUT THE PROVISIONS THAT DO NOT APPLY): (a) for use as my primary residence and I will occupy the referenced premises as such; or (b) from a referee in a foreclosure sale conducted pursuant to Article 13 of the Real Property Actions and Proceedings Law; or (c) from ______________________________, who is my spouse, grandparent, parent, child, grandchild or sibling (Strike out the ones which are inapplicable), or (d) by a not-for-profit housing organization or a public agency; or (e) the statute is not applicable because I am a bona fide purchaser for value; or (f) if a sale is authorized by statute; or (g) by order or judgment of a court. I make this affidavit knowing that Chicago Title Insurance Company is relying on the truth of the statements made herein. To be advised By Name: Title: Sworn to before me this ______ day of _________________, 20 _____ ____________________________________________ Notary Public 08/14/2017 4:50:50 PM D-Killion  NOTICE OF AVAILABILITY OF OWNER'S TITLE INSURANCE AND MARKET VALUE RIDER TITLE NO: CT17-30545-ALB TO: To be advised Buying property identified as: Oakwood Avenue, Troy, NY A Mortgagee’s Policy of title insurance insuring the title to the property you are buying is being issued to your mortgage lender, but that policy does not provide title insurance coverage to you. You may obtain an Owner’ s Policy of Title Insurance which provides title insurance to you. If you request it at this time the total premium for both policies will be $0.00. This is an additional __________ above the cost of the Lender’ s Policy. This does not include the cost for endorsements. If you are uncertain as to whether you should obtain an Owner’ s Policy of title insurance, you are urged to seek independent advice. ________ I/We do request on Owner’ s Policy of title insurance. ________ I/We do not request an Owner’ s Policy of title insurance. If you have requested an Owner's Policy of Title Insurance, Insurance Law Sec. 6409, Subdivision (c) requires that title companies offer, at or prior to closing, an optional (rider) policy to cover a homeowner (defined as the natural owner and resident) of a one to four family house, condominium unit or cooperative apartment for FUTURE market value of the house for an additional premium of 10# of the full fee policy rate. Check one of the following: ________ I choose to accept the future market value coverage at rates approved by the Insurance Department. ________ I do not choose to obtain this additional coverage. Dated: _________________________________ To be advised By Name: Title: Sworn to before me this _______________ day of _______________, 20____________ ____________________________________ Notary Public My commission expires: ________________ 08/14/2017 4:50:51 PM D-Killion  Notice Regarding Ancillary Services Title costs for this transaction may include charges for certain services not specified in the TIRSA (Title Insurance Rate Service Association) rate manual but are provided by Chicago Title Insurance Services, LLC at the request of your lender or attorney. The issuance of the title policy is not dependent upon the performance of such additional services. If you have any concerns about the content of this disclosure you are encouraged to contact a representative of Chicago Title Insurance Services, LLC who will answer any questions. For contact information please refer your Title Insurance Commitment. I/We hereby acknowledge receipt of the Notice Regarding Ancillary Services and that I/we understand the disclosure information contained herein. _____________________________ _______________________________ Print Name:____________________ Print Name: ______________________ Date: _____________________ THIS FORM MUST BE EXECUTED AT THE TIME OF CLOSING. 08/14/2017 4:50:53 PM D-Killion  Title Number: CT17-30545-ALB CHICAGO TITLE INSURANCE COMPANY CONDITIONS AND STIPULATIONS Title Number CT17-30545-ALB 1. This Certificate shall be null and void (A) if the fees therefore are not paid; (B) if the prospective insured, his attorney or agent makes any untrue statement with respect to any material fact, or if any untrue answers are given to material inquiries by or on behalf of the Company; (C) when the policy shall issue or nine months after effective date hereof, whichever first occurs, provided that the failure to issue such policy is not the fault of the Company; (D) until the amount of the policy or policies requested is inserted in Schedule A hereof by the Company, either at the time of the issuance of this Certificate or by subsequent endorsement. 2. If the title, interest or lien to be insured was acquired by the prospective insured prior to delivery hereof, the Company assumes no liability except under its policy when issued. 3. The liability of this Company under this Certificate shall not exceed the amount stated in Schedule A hereof and such liability is subject to the insuring provisions, the Exclusions from coverage and the Conditions and Stipulations of the form of policy or policies shown in Schedule A hereof in favor of the proposed insured which are hereby incorporated by reference and made a part of this Certificate except as expressly modified herein. This Certificate of Title has been prepared in accordance with the information and instructions received. If any changes or additions are desired, please notify the Company promptly. __________________________________________________________________ CLOSING INFORMATION Closed by Date Closed Title No. Closed at the office of Parties Present Interest in Transaction Address The identity of the parties executing and delivering the closing instruments was established by 07NYCJ2 08/14/2017 4:50:54 PM D-Killion  RES#92 RESOLUTION AUTHORIZING THE RETENTION OF SPECIAL COUNSEL REGARDING THE OPIOID EPIDEMIC ____________________________________________________________________________________ WHEREAS, the City of Troy recognizes that an opioid epidemic exists in the United Sates which is plaguing our country and which has placed significant burdens on municipal resources; and WHEREAS, the City of Troy deems it necessary and proper to retain outside private counsel to represent the City of Troy and to investigate the viability of claims against the manufacturers and /or distributors of prescription opiates and, if appropriate, commence litigation against those manufacturers and /or distributors; and WHEREAS, after careful consideration and deliberation, the Troy City Council finds that the law firm of Dreyer, Boyajian, LLP, is very experienced representing municipalities throughout the State of New York in class actions and complex litigation. NOW, THEREFORE, BE IT RESOLVED , that the Troy City Council does hereby authorize the Mayor of the City of Troy to retain the law firm of Dreyer, Boyajian, LLP, as per the Retainer Agreement attached hereto and made a part hereof. Approved as to form: September , 2018 __________________________________ JAMES A. CARUSO, ESQ. City of Troy Corporation Counsel  RES#92 MEMO IN SUPPORT The opioid epidemic in the United States has placed significant burdens on resources at the federal, state, county and local levels. Cities with drug treatment centers have become overwhelmed. Those cities without drug treatment centers find themselves in need of the resources to create drug treatment centers or other outreach for their residents. Most cities have experienced a substantial burden on their emergency response systems, such as paramedic services, police or other emergency responders. The opioid crisis has also burdened law enforcement and the criminal justice system, which must respond to those victims who have turned to heroin and other illegal activities to support their addiction. Although counties were the first to initiate litigation in New York, cities all over the country are now filing separate lawsuits against the opioid manufacturing and distribution industry to recover significant costs which they continue to incur. The local law firm of Dreyer Boyajian, LLP, currently represents the cities of Albany, Schenectady and Plattsburgh, and proposes to represent the City of Troy. The law firm has successfully represented many upstate municipalities in a variety of complex litigation matters and has significant experience litigating class actions and other complex litigation in federal court. It will be well suited to protect the City of Troy's interest in connection with this important litigation. Dreyer Boyajian, LLP, proposes to work on a contingency fee basis of 25% and would advance all litigation costs and expenses associated with this litigation. In the event that there is an unsuccessful outcome, the law firm will bear the expenses and will seek no reimbursement from the City of Troy for those litigation costs or expenses. In short, there is very little reason for the City of Troy taxpayers to bear the extraordinary burden of addressing this opioid epidemic and this litigation provides an opportunity for the City to recoup some of those taxpayer funds.