511 WEST 232ND OWNERS CORP.
Storage Space Agreement
AGREEMENT, made this ______ day of ____________, 20____,
between 511 West 232nd Owners Corp.
(hereinafter referred to as the "LICENSOR"), and
______________________________ residing in Apartment
_________ (the "Apartment") at 511 West 232nd Street,
Bronx, NY 10463, (hereinafter referred to as the
WHEREAS, LICENSOR is a cooperative housing corporation
and owner of the premises known as 511 West 232nd
Street, Bronx, New York (the "BUILDING") and LICENSEE is
a tenant or resident-shareholder and occupant of an
apartment in the BUILDING; and
the BUILDING contains a storage room designated in the
Certificate of Occupancy for storage purposes; and
LICENSEE is desirous of obtaining the privilege to store
personal property in a designated area (the "STORAGE
SPACE") in the subject room.
THEREFORE, in consideration of the covenants and
conditions herein contained, it is mutually agreed as
- LICENSOR does hereby grant unto
LICENSEE the privilege of utilizing the STORAGE
SPACE for the storage of personal property for a
term of six (6) months commencing on the first
day of _________ 20___ and terminating on the
last day of the month of _________ 20___ .
- The within Agreement shall be
renewed for successive six (6) month periods unless
either party, at least thirty (30) days prior
to the termination of the license period herein set
forth and/or renewal thereof, gives notice to the
other party in writing of his or its intention to
cancel said Agreement.
- That the within Agreement may be
terminated upon ten (10) days prior written
notice by LICENSOR to LICENSEE upon the violation of
the terms hereof or such other rules and regulations
which may hereafter be adopted by LICENSOR governing
the use of the storage room.
- In the event that LICENSEE
ceases to be a tenant or resident-shareholder of
LICENSOR, the within Agreement shall automatically
terminate as of the date that LICENSEE ceases to be
such tenant or resident-shareholder.
- LICENSEE shall pay to LICENSOR a
fee for the granting of the within license in the
sum of US$________ per six-month period, payable in
advance upon the execution hereof, and receipt of
which is hereby acknowledged. LICENSOR reserves to
itself the right to increase such fee upon any
renewal of the term of the within Agreement upon
condition that, at least ten (10) days prior to the
commencement of the renewal term, LICENSOR gives
notice to LICENSEE, in writing, of the increase in
- The LICENSEE has deposited the
sum of twenty-five dollars (US$25.00) as security
for the faithful performance by LICENSEE of the
provisions of this Agreement, it being understood
that in the event LICENSEE defaults in respect to
this Agreement, the LICENSOR may use the security as
may be required by the LICENSEE'S default. In the
event the LICENSEE fully complies with all of
covenants and conditions of this Agreement, the
security shall be returned to the LICENSEE. The
security shall be placed in a non-interest bearing
account, which may be commingled with other deposits
of LICENSOR. If any of the security deposit is
applied by the LICENSOR, LICENSEE will remit to the
LICENSOR, within ten (10) days of such demand, a sum
sufficient to restore the security to the sum
required to be deposited hereunder.
- It is understood and agreed that
the size and characteristics of allocated STORAGE
SPACE will be at the sole discretion of LICENSOR.
- The LICENSOR or LICENSOR'S
agents shall not be liable for any damage to the
LICENSEE'S personal property so stored nor any loss
by fire, theft or other hazard. It is understood and
agreed that the LICENSEE shall keep and maintain
fire and theft insurance on any and all property
being stored within the STORAGE SPACE and that
LICENSOR shall not be responsible to maintain
insurance on the STORAGE SPACE. It is further
understood and agreed that LICENSEE stores his or
her property at his or her own risk should LICENSEE
choose not to keep and maintain insurance. LICENSEE
agrees to indemnify and hold LICENSOR harmless from
any loss, damage or expense caused by LICENSEE'S use
of the STORAGE SPACE.
- In case of damage to the STORAGE
SPACE by fire or other casualty, the LICENSOR shall
have the option as to whether it will cause the
damage to be repaired, but if the STORAGE SPACE is
destroyed or so damaged that the LICENSOR shall
decide it inadvisable to repair, this Agreement
shall cease and terminate and LICENSEE shall remove
- LICENSEE shall not assign this
Agreement or permit the STORAGE SPACE to be used by
any other person except LICENSEE without the prior
written consent of the LICENSOR.
- Any notice which LICENSOR may
desire to or be required to give to LICENSEE shall
be deemed sufficiently given if in writing delivered
to LICENSEE personally or sent by mail to the
LICENSEE at the address in this Agreement. Any
notice by LICENSEE to LICENSOR must be served by
Registered or Certified Mail addressed to the
LICENSOR at 511 West 232nd Owners Corp., c/o Veritas
Property Management, LLC, 1995 Broadway,
Suite 201, New York, NY 10023.
- The covenants, conditions and
Agreements contained in this Agreement shall bind
and inure to the benefit of LICENSOR and LICENSEE
and their respective heirs, distributees, executors,
administrators, successors and except as otherwise
provided in this lease, their assignees. This
Agreement cannot be changed orally. The LICENSEE
acknowledges that only certain items may be stored
in the STORAGE SPACE and agrees that the LICENSEE'S
retention of material in the STORAGE SPACE that is
in violation of the New York City Fire Code will be
cause for the LICENSOR to terminate this Agreement.
LICENSOR shall have the right, at anytime to enter
upon and inspect the STORAGE SPACE and remove any
material in the STORAGE SPACE that violates this
- In the event LICENSEE breaches
any of the terms, covenants or conditions of this
Agreement or the Lease, or in the event of any
dispute, claim or controversy relating thereto,
LICENSOR shall have the right to terminate this
Agreement. LICENSEE shall pay LICENSOR all expenses
actually incurred, including attorney's fees,
resulting therefrom and from any ensuing litigation.
- The LICENSEE acknowledges that
it has no proprietary right to the STORAGE SPACE and
the LICENSEE'S right to use the STORAGE SPACE
terminates on the termination of this Agreement or
the LICENSEE'S ceasing to reside in the Apartment.
- Upon termination of this
Agreement, LICENSEE agrees to arrange for the
immediate removal of its property. Should LICENSEE
fail to effect the removal of its property after 14
days from the date of Agreement's termination,
LICENSEE agrees that LICENSOR has the right but not
the obligation to remove said property and dispense
with it at LICENSOR'S discretion, and LICENSEE holds
LICENSOR harmless from any loss, damage or expense.
- LICENSEE agrees to label legibly
all items stored with name, apartment and telephone
numbers. LICENSEE agrees to store only the items
listed in "Appendix A".
- In the event that LICENSEE
requires access to its property, LICENSEE agrees to
contact LICENSOR or LICENSOR'S agents to make an
appointment, with reasonable advance notice given.
LICENSEE agrees that in no event shall he or she be
permitted in the STORAGE SPACE without the
accompaniment of authorized Building personnel.
WHEREOF, the LICENSOR and LICENSEE have respectively
executed this Agreement as of the day and year first
511 West 232nd Owners Corp.
Appendix A: Stored Items; Space