NYC Paperwork

Question 1

Aztech Recognition Agreement

Answer 1

• tri-lateral contract between the buyer of a co-op, the buyer’s bank and the co-op corporation
• Aztech form is an understanding between all parties that the bank will have a first lien on the buyer’s shares and proprietary lease as collateral for the loan.
• ## primarily an understanding between the co-op corporation and the bank lender which is signed and acknowledged by the shareholder.