{"id":"court_ctb_4311_2","court":"CTB","case_no":"22-50073","doc_number":4311,"sub_number":2,"doc_type":"ORDER","filed_date":null,"title":"Exhibit 4 SECURITY DEPOSIT AGREEMENT","summary_zh":null,"summary_en":null,"body_en":"## **Exhibit 4**\n\n## SECURITY DEPOSIT AGREEMENT\n\nMarch > . 2015\n\nThe Sherry-Netherland, Inc. 781 Fifth Avenue New York. NY 10022\n\nRe: Apartment 1801\n\nLadies and Gentlemen:\n\nIn order to induce the Sherry-Netherland, Inc. (the \"Corporation\") to approve the transfer to GENEVER HOLDINGS LLC, a New York limited liability company (the \"Tenant\") of the \"Tenant\") in GENEVER HOLDINGS LLC, a New York illused it to apartment 1801 (the \"Apartment\") in\n2,950 shares (the \"Shares\") of the Corporation allocated . New York, New York, New York, Ne 2,950 shares (the \"Shares\") of the Corporation anocated at 781 Fifth Avenue, New York, New York 10022\nthe cooperative apartment building located at 781 Fifthe \"Lease\"), which the cooperative apartment bunding located at 10 the Parson (the \"Lease is\nand the lessee's interest in the proprietary lease for the Corporation a bank or certified appurtenant to said Shares, Tenant is herewith delivering to the Corporation a bank or certified appurtenant to said Shares, Tenant is netewner the sum of \\$3,12,850.20 (said check, the check made payable to the order of the conporation on the Corporation of an increase in the proceeds thereof and any interest carned the contracted by the Corporation of an increase in the agrees to increase the amount of the Deposit the amount of the Deposit shall always equal sixty\nrate of the monthly proprietary rent, so that the amount of the Deposit shall (60) times the then current monthly proprietary rent for the Apartment.\n\nThe Deposit is to be held by the Corporation as security for the faithful performance and The Deposit is to be held by the corporations and conditions of the Lease with the Corporation, as lessor, during the period commonsing on the date hereof and extending until the consent of the Corporation, as lessor, during the period connise on the Lease, with the consent of the \"Tenant's Tenant assigns or transfers the renant's micrest in the Lease (the \"Tenant's Transfer\").\n\nThe Deposit shall be maintained by the Corporation in an interest bearing account at a bank hereafter designated by the Corporation, in its sole discretion, it nonetheless bearing hereafter designated by the Corporation, in to sore the Deposit into an interest bearing that the Corporation shall nave no duy to exceute pays of this Agreement and the Deposit, a account if Tenant does not deliver, with an exceptive the rate of interest. All interest. All interest Form W-9 or W-8, as the bank may require, or the Corporation as an administrative and/or dividends, if any, accruity on the Deposit, to be retained by the Corporation as an administrative expense in lieu of all other administrative and custodial expenses), shall remain the Tenant's property. The Tenant shall be credited with any and all a cruped and unpaid interest earned with property. The Deposit, but the same shall not be withdrawn but shall be added to the Deposit as earned.\n\nThe Corporation shall have no duties or responsibilities with respect to the Deposit except as set The Corporation shall nave to unites of tesponionation of this Agreement unless same shall be\nforth herein, and shall not be bound by any motion on Topper set forth in writing and signed by the Corporation and Tenant.\n\nAny notice, demand or request which the Corporation shall desire to give the Tenant under the Any notice, demand of request which the Corporation shall be deemed given when sent to the Tenant at the Apartment.\n\nIn the event the Tenant defaults in respect of: (i) any of the terms, provisions and conditions contained in the Lease, including, but not the payment of any proprietary rent for the Apartment, additional rent or other charges reflected on Tenant's bill for proprietary rent for the Apartment, additional rent or other charges reflected on Teather bease, including, but not limited to any sum which the Corporation may reasonably expend or may be required to expend by reason of the Lease, of which the Corporation may reasonaly chems, corenants and conditions of the Lease, or Tenant's default in respect of any of the tennis, done (ii) any amounts due and owning to the amounts otherwise payable to the Corporation, and Consent cated March 2015 and Corporation, as Lessor, pursual to an Agreement\") and/or a Guaranty of such Consent Agreement,\nexecuted by Tenant (the \"Consent Agentled Amount\"), the Cornoration may, in its executed by Jenant (the \"Collsent Agreement ), the Corporation may, in its sole and absolute discretion, use, apply or retain the whole or any part of the extent and absolute discretion, use, apply of reiall the More of Amount, it being understood and required for the payment to the Corporation of Saccass the imposition of fees or pentifies, the agreed that if such withdrawas noth the Deposities, and such payments shall be in addition to\nTenant shall immediately pay 30,000 000 000 000 bit seeured bereunder. Unon de Tenant shall immediately pay such lees and penantity, equired hereunder. Upon demand by the and not in diminution of the 33,312,600.00 Diposit in the amount of any sums so expended by reason of Tenant's default so the Deposit shall not be less than annount equal to expended by reason of Tenan s delant so the Apartment. The failure by the undersigned to so sixty (60) times the proprietary (30) days after notice to the Tenant, at the Apartment, 781 replenish the Deposit within inity (50) days atterned a default under the Lease. The Fifth Avenue, New York, New York 10022, and ase may be, and any accrued interest thereon shall be returned to Tenant upon the Tenant's Transfer.\n\nThe Tenant hereby designates the law firm of Paul, Weiss, Rifkind, Whatlon & Carrison LLP, The Tenant hereby designates the law interest wands, as member thereof (\"Designer\") as a 1285 Avenue of the Americas, New Tork, NY process in any action or proceeding arising under agent and attorney in fact to accept set it being express sly acknowledged that service of process\nor in connection with this Agreement, it being expressings the Occupant and or in connection with this Agreement, it ochie exainst the Lessee, the Occupant and/or any need only be served upon Designee in the Consent Agreement. The foregoing designation is irrevocable and one coupled with an interest.\n\nThis Agreement and any document contemplated by or delivered pursuant to or in connection This Agreement, shall be governed by and construed and enforced in accordance with the with this Agreement, shall be governed by and consacts made in and to be performed wholly within the State of New York.\n\nIn any action on this Agreement, Tenant agrees to waive a trial by jury and the right to assert any counterclaim, other than a compulsory counterclaim.\n\nThe parties hereby agree that in any action or proceeding brought upon any matters whatsoever arising out of, relating to or in any way connected with the Shares, the Lease, the whatsoever arising our of, relating to or in any document contemplated by, delivered pursuant to, Apartment, and/or this Agreement, the parties hereto, their respective heirs, legal or in connection with this Agreement, the parties nevels never consent to the venue and\n\nNY 75563186v4\n\njurisdiction of the State of New York, sitting in the County and City of New York,\n States of the State of the instructive bairs, logal representatives, successors and permit jurisdiction of the courts of the State of New Trons, sitting in the Units, and permitted assigns.\n\nTenant shall execute any and all additional and further documents which are necessary, in the Tenant shall execute any and an additional and further coounter induce an FDIC-insured bank to accept the Deposit under the terms hereof.\n\nNo modification or revision of this Agreement shall be effective unless in writing and signed by the Corporation and the Tenant.\n\nVery truly yours,\n\n## GENEVER HOLDINGS LLC\n\nBy: Genever Holdings Corporation, Sole Member\n\nBy:\n\nIra Gilbert Name: Authorized Person Title:\n\nRECEIPT OF \\$3,312,850.20 IS HEREBY ACKNOWLEDGED; AGREED TO AND ACCERTED: The Shefty Nether and By: Name: M To AAEL J. ULLMAN DE V. 6 - 4 C.O. 0 Title: VECAT 1","body_zh":null,"key_entities":["Je"],"ecf_references":[],"word_count":1343,"status":"published","published_at":null,"created_at":null,"updated_at":"2026-07-07 08:22:45"}