Form No. 3. CORPORATE VERIFICATION

STATE OF NEW YORK

COUNTY OF

SS.:

being duly sworn, deposes

and says that he is the President of

, Inc., plaintiff in the above entitled action; that he has read the foregoing bill of particulars and knows the contents thereof; that the same is true to his own knowledge, except as to the matters therein stated to be alleged on information and belief, and that as to those matters he believes it to be true.

Sworn to before me this

day of

1921.

NOTARY PUBLIC,

COUNTY.

Form No. 4. BILL OF PARTICULARS (ANOTHER FORM)

The following is plaintiff's Bill of Particulars herein, filed pursuant to the provisions and under the compulsion of Chapter 944 of the Laws of 1920.

The following statements are all alleged on information and belief. 12

11 Entitle in the Court in which the action is pending.

12 If the bill is verified by some one having personal knowledge this paragraph may be omitted.

1. The building in which is the apartment occupied by defendant, is known as in the Borough of

, City of New York, and is a twelve story and basement apartment building occupied for dwelling purposes only and restricted by plaintiff and by the owner to tenants whose personal, business and financial references are examined and approved by the plaintiff and the owner. The owner is

a domestic corporation, and the plaintiff is the agent of such owner in the leasing and managing of said apartment house, pursuant to a resolution duly passed by the owner corporation and in force and effect for upwards of five years last past (or state other facts).

2. The gross annual income derived from the entire premises for the year ending October 1st, 1920, was $66,130, of which amount approximately $50 represents receipts from the sale of waste paper and the entire balance, rentals derived from the tenancies in the building.

3. The number of apartments in said building is twenty-five and there are no stores.

11 apartments contain 9 rooms and 3 baths each;

9 apartments contain 10 rooms and 3 baths each;

2 apartments contain 7 rooms, 1 with 2 baths and 1 with 3 baths;

1 apartment contains 8 rooms and 3 baths;

1 apartment contains 11 rooms and 3 baths and

1 apartment contains 4 rooms and 1 bath.

Some of the apartments are duplex apartments.

4. The rent received from each of the above described apartments for the period of one year ending September 30th, 1920, is set forth in Schedule 1 hereto annexed and made a part hereof.

5. The consideration paid by the

Co., the owner of the building, was as follows:

Realty

The land was purchased by the company in the year 1910 for the sum of $134,250. The cost of the building which was completed on or about October 1, 1911, was $312,350, being the net cost charged by the contractors without any charge for builder's profit. The

aggregate cost of land and building was $446,600 and adding a nominal builder's profit thereto would make the cost $490,000.

6. The assessed valuation of the property for the year 1921 was $555,000. The taxes for the year 1921 will be $15,373.50.

7. The mortgage encumbrance on the property (with the exception of an unrecorded mortgage securing notes representing money borrowed from the stockholders of the company) is a first mortgage held by the Insurance Company of New York, upon which there now remains unpaid the sum of $315,000 with interest, which since April 1st, 1920, has been at the rate of 52%. The annual interest charge upon said encumbrance is $17,325.00.13

8. The operating expenses of said premises for the year ending September 30th, 1920, are set forth with reasonable detail in Schedule II hereto annexed, which is made a part thereof.

9. By way of additional facts and information, which plaintiff claims effect the net income from the property, plaintiff refers to schedules hereto annexed and hereinafter described:

(a) Schedule III sets forth separately the leases in effect in said premises for the year commencing October 1, 1920, and the aggregate rental anticipated therefrom.

(b) Schedule IV sets forth the pay roll for the premises in effect at the present time, together with a comparative statement of the pay roll for the months of October, 1912, and 1916, respectively.

(c) Schedule V is a statement of the estimated expenses of operation and maintenance of the premises for the year commencing October 1st, 1920, together with explanatory notes of the several items.

(d) The present market value of the premises is at least $677,500. The cost of reproducing the building as of October, 1920, would be at least $800,000, which amount less depreciation at 2% per annum for the nine years since the building was erected, aggregating $144,000, would leave the present replacement valuation of not less than $656,000, which with the present assessed value of the land, viz: $155,000, makes a total of $811,000.

13 See Osmansky v. Auerbach, 189 N. Y. Supp. 7, and Hirsch v. Weiner, 190 N. Y. Supp. 111, supra, page 216 et seq.

The owner's equity figured on the basis of assessed value of $555,000, is $240,000; on estimated market value of $677,500, is $362,500; on replacement value of $811,000, is $496,000.

Dated N. Y.,

NOTE: The item of Lost Rents has fluctuated considerably over the nine

years of operation.

In the year ending September 30, 1912, it amounted to.

.$6,412.50 5,204.11

OPERATING EXPENSES FOR THE YEAR ENDING SEPTEMBER 30, 1920

Note. The item for repairs and decorations is much below normal, as allowances from scheduled rental were made to many tenants in consideration of their waiving redecorations of their apartments.