STORAGE BIN LICENSE AGREEMENT. AGREEMENT made this day of, 2006, between

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1 STORAGE BIN LICENSE AGREEMENT AGREEMENT made this day of, 2006, between Sutton House, Inc. (the Cooperative ) and (the "User ) residing at 415 East 52 nd Street, New York, New York (the Building ), Apartment (the "Apartment"). The User being a tenant/shareholder in the Cooperative. The Cooperative hereby grants to the User a license to use Storage Bin No. (the Bin ), Storage Room located on the ground floor of the Building, or such other Bin as the Cooperative may designate from time to time at its sole discretion, on the terms set forth in this Agreement. 1. Term. The license shall be a month-to-month license to commence on April 1, The license shall continue from month to month unless canceled at the end of any month by notice given by either party at least thirty (30) days prior thereto, or unless sooner terminated in accordance with this Agreement. 2. License Fee.(A) The User agrees to pay to the Cooperative a monthly fee ( License Fee ) for the Bin in the amount of $ The License Fee and any other charges that may become due hereunder, shall be deemed additional maintenance charges under the Proprietary Lease and shall be payable at the same time and in the same manner as maintenance charges, and may be collectible as such. The License Fee shall be due on the first day of each and every month during the term and shall be paid without counterclaim, set-off or deduction. (B) The monthly License Fee may be increased at the beginning of any month by the Cooperative giving User thirty (30) days written notice of the increase. If User does not wish to pay any increased charge then User may cancel this Agreement in accordance with Paragraph 1. If User elects to cancel this Agreement, the Cooperative will not charge User the increased charge for the month in which this Agreement is canceled. 3. Use of Bin. The User may use the Bin to store personal property of User, and for no other purpose. User shall not use nor allow the Bin or any part thereof to be used for any unlawful purpose, nor in any manner offensive to any other users, shareholders or tenants of the Cooperative. The User shall not store any combustible matter, hazardous materials, or pressurized containers in the Bin, or permit or do anything which would increase the rate of fire insurance upon the Cooperative. User will not store any (a) animals, (b) food, (c) inflammable, combustible, explosive, or other dangerous items, or (d) items which have an objectionable odor or which may spoil or decay or cause spontaneous combustion. User shall not use the Storage Bin in any way which violates the New York City Building Code, the New York City Fire Code or any other applicable Federal, State or local law, rule, order or regulation. 1

2 4. Liability of Parties. The User s personal property is permitted to be stored in the Bin at the User s own risk and the Cooperative or its agents shall not be liable for any loss of or damage or injury to any article of property left or stored in the Bin, nor for damage or loss to any property in the Cooperative s premises or possession, whether resulting from theft, vandalism, fire, explosion, falling plaster, steam, gas, electricity, or water emanating from the pipes, appliances or plumbing works of the Cooperative s promises or from any other cause whatsoever, unless caused by or due to the gross negligence of the Cooperative. The Cooperative shall not be liable for damage caused by any other person to the Bin, or for any latent defect in the Bin. User agrees to indemnify the Cooperative and hold the Cooperative harmless against any loss or liability arising out of the User s use of the Bin, including (but not limited to) damage to property or to other persons. Such indemnity shall include the obligation to defend any claim at the Users expense at the time the claim is made. The Cooperative may repair all damage or injury to the Bin or the Building in which it is located, or to its appurtenances, fixtures or equipment, at the expense of the User to the extent the damage was caused by the User or User s servants, employees, agents or visitors. 5. As Is Condition; Alterations and Keys. User hereby accepts the Bin in its current, "as is, condition. User shall not require Cooperative to paint the Bin nor to make any repairs nor alterations thereto. User shall make no alterations, modifications, or additions to the Bin unless User has obtained the prior written consent of the Cooperative. Any lock placed on the Bin shall be installed at the sole expense of User. User shall provide Cooperative with a duplicate key for each lock installed on the Bin promptly after such installation. 6. Damage. In case of damage to the Bin by fire or other casualty, the term of this License shall terminate immediately. In such case, User shall promptly remove any of User s personal property in the Bin and the License Fee shall be adjusted to the time of destruction or damage. 7. End of Term. On the last day of the term of this Agreement User will deliver possession of the Bin empty, broom clean and in the same condition as it was on the date of this Agreement, except for ordinary wear and tear. Any personal property not removed on the last day of the term can be disposed of by the Cooperative in any manner it sees fit, at the sole cost and expense of User, or by any means provided by Iaw. If User remains in possession of the Bin after the first day of the month a License Fee shall be imposed for the entire month. However, the payment and/or acceptance of such fee shall not be deemed an acquiescence to User s continued occupancy of the Bin. 8. No Assignment or Transfer. The User may not assign this Agreement or permit the Bin to be used by any other Person without Prior written consent of the Cooperative in each instance, which consent may be withheld in the sole discretion of the Cooperative. 2

3 9. Access for Repairs; Right to Move Bin. (a) The Cooperative has a right of access to the Bin on reasonable notice at any time, and without notice in an emergency, to inspect and/or make repairs to the Bin or the Building. There shall be no abatement of the License Fee for loss of use, or any liability on the part of the Cooperative by reason of inconvenience, annoyance or injury to business arising from the making of any repairs or alterations to any portion of the Building or the Bin. The Cooperative shall not be liable for failure to make any repairs or improvements to any portion of the Bin. (b) The Cooperative shall have the right, at any time. to move the Bin to any other location within the Building in which the Bin is currently located on 10 days notice, unless the Bin must be moved to another location as a result of an emergency, in which case no notice shall be required. (c) The Cooperative may at any time change User s assigned Storage Bin to another on giving thirty (30) days prior written notice of such change. User will have the right to terminate this License Agreement upon receipt of such notice. If User accepts the change User will bear all costs incurred in moving its possessions from one Storage Bin to another. 10. Notices. Any notice which the Cooperative may desire or be required to give to the User shall be deemed sufficiently given if in writing delivered to the User personally or by registered mail to the User at the address stated in this License. Any notice by the User to the Cooperative must be given by registered mail addressed to the Cooperative care of its then managing agent. 11. User s Right to Lock Bin; Cooperative s Right to Break Lock. User shall have the right to install a lock on the Bin during the term (subject to the requirement to deliver a duplicate key. to the Cooperative as is herein provided). The Cooperative shall have the right to enter the Bin under the following circumstances: (i) in an emergency; (ii) in order to gain access to the Bin after the term expires or User s default; (iii) if in the Cooperative s reasonable judgment, access is required in order to allow repairs to be made to the Bin or the Building. Under no circumstances shall the Cooperative be liable for any loss or damage resulting from entry by the Cooperative in accordance with this paragraph except for its gross negligence. If the Cooperative is not supplied with a duplicate key in accordance with this Agreement, it shall have the right to forcibly remove the lock and enter the Bin without being responsible therefor. 12. No Alteration, Painting or Making Bins. User may not make any alteration to the Bin, place a sign on, paint, mark, or designate the Bin in any way. It is understood and agreed that these covenants are material and substantial obligations of the User. 13. Rules and Regulations. The Cooperative may make such rules and regulations with regard to the use of the Bin, as it, in its sole discretion, shall deem necessary or desirable and the User, for himself, his family, servants, employees, agents, and visitors shall observe or cause to be observed faithfully and comply or cause compliance strictly with such rules and regulations as may be made by the Cooperative from time to time. Noncompliance with such rules and regulations shall be deemed a substantial violation of this Agreement as well as of the Proprietary Lease for the Apartment. 3

4 14. Default. User shall be in default under this Agreement if User violates any of its obligations under this Agreement or the rules promulgated hereunder, and fails to cure the violation within five (5) business days after notice. A violation of this Agreement shall be deemed to be a default of the Proprietary Lease for the Apartment and a violation of the Proprietary Lease for the Apartment shall be deemed to be a default of this Agreement. Upon such default, the Cooperative shall be entitled to terminate this Agreement on three (3) business days notice, after which the Cooperative may remove and dispose of User s personal property from the Bin, at Users expense, in any manner the Cooperative deems appropriate or by summary proceedings or by any other applicable provision of law. User shall be liable for any costs incurred by the Cooperative (including legal fees) in enforcing its rights under this Agreement. 15. Cooperative not a Ballee. The Cooperative is not in the business of storing property, nor is the Cooperative in the business of leasing or licensing space for others to store their property. It is the intention of the Cooperative and the User that their relationship shall at all times be deemed that of Cooperative and User with respect to the Bin. The License Fee is based on the fact that the Cooperative has absolutely no duty or obligation to perform with respect to the contents of the Bin, and has no care, custody or control over the contents of the Bin. The Cooperative shall not be regarded as a bailee or custodian of the User s personal property. The Cooperative has no obligations toward the User, and makes no warranties, representations or guarantees, either expressly or which may be implied by law. 16. Other Events of Termination. In addition to the other conditions of termination set forth in this Agreement, this License shall expire immediately if User shall cease to be a shareholder of the Cooperative. 17. Subordination. This License is subject and subordinate to all ground and underlying leases and to all mortgages which may now or hereafter affect the License or the real property of which the Bin is a part. This License is further subject and subordinate to all renewals, modifications, consolidations, replacements and extensions of any such underlying leases and mortgages. This provision shall be self-operative and no further instrument of subordination shall be required by any ground or underlying lessee or by any mortgagee affecting any License or the real property of which the Bin is a part. In confirmation of such subordination, User shall execute, within five (5) business days after presentment, any certificate that the Cooperative may request. 18. Lien for Unpaid License Fee and License Obligation. Cooperative shall have a lien upon the Shares and the Proprietary Lease appurtenant to the Apartment for unpaid License Fees and any other obligation of User under this License. Cooperative may withhold its consent to any transfer of this license or of the Shares and the Proprietary Lease appurtenant to the Apartment until all such obligations are satisfied. 19. Severability. If any provision of this License is found to be void and unenforceable by a court of competent jurisdiction, the remaining provisions of the License shall nevertheless be binding upon the Cooperative and User with the same effect as though the void or unenforceable part had been severed and deleted. 4

5 20. Entire Agreement; No Oral Modification; Prior Agreements; Interpretation. This Storage Bin Agreement contains the entire agreement and understanding between the Cooperative and User regarding the Bin. There are no oral terms, representations or conditions not expressly set forth in this Agreement. This License cannot be modified except in a written document signed by the parties hereto. This License supersedes and supplants any prior oral or written agreement between the Cooperative and the User with regard to the Bin, all of which prior agreements (if any) are hereby terminated. This License shall be construed without regard to any, custom or rule of law requiring construction against the draftsman. 21. Waiver of Jury Trial. It is mutually agreed by and between the Cooperative and User that the respective parties hereto shall and they hereby do waive trial by jury in any action, proceeding or counterclaim brought by either of the parties hereto against the other, (except for personal injury cases) on any matter whatsoever arising out of or in any way connected with the License. IN WITNESS WHEREOF, the Cooperative and the User have respectfully executed this Agreement as of the day and year set forth above. SUTTON HOUSE, INC. By: Name: Title: Assistant Secretary User s Name/s: Bin No. Location: Account No: Apt. No. Signature Signature 5

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