DEP Environmental Protection Invoices, 1999-2001

NYC 9/11 Public Portal Document

01717/01 WED 13:56 FAX 2122735121 DASNY-OPPORTUNITY PROGRA 14006

PRIVILEGED AND CONFIDENTIAL

DRAFT • 1/10/2001

PAYMENT AGREEMENT, dated as of__. 2001, by and among THE NEW YORK CITY WATER BOARD, a public benefit corporation with its principal offices at 59-17 Junction Boulevard, 8'° Floor, Corona, New York 11368 (the "Water Board"), the STATE OF NEW YORK (the "State"), acting by and through the New York State Department of Mental Hygiene, with its principal office at 44 Holland Avenue, Albany, New York 12229 ("DMH"), and the DORMITORY AUTHORITY OF THE STATE OF NEW YORK, a public authority with its principal office at 515 Broadway, Albany, New York 12207 (the "Authority").

RECITALS

WHEREAS, pursuant to certain financing transactions, the Authority holds title to the real property shown as Block —, Lot — on the Tax Map of the Borough of the Bronx, City of New York, together with the improvements thereon, commonly referred to as the Bronx Psychiatric Center (such real property, together with the improvements thereon, being hereinafter referred to as the "Center Property"); and

WHEREAS, pursuant to such financing transactions, the State leases the center Property from the Authority, and DMH operates a mental health center thereon; and

WHEREAS, the Authority is desirous of selling to [name) (the "Developer"), for private development, a portion of the Center Property, consisting of approximately 20 acres of real property, together with the improvements thereon, at the northern end of the Center Property, all as more particularly described in Exhibit A attached hereto (such portion being hereinafter referred to as the "Development Parcel"); and

WHEREAS, the Water Board is responsible for setting, and collecting, rents, fees and other charges for the use of the New York City water and wastewater systems; and

WHEREAS, the closing of the sale and conveyance of the Development Parcel, to a third party, has been delayed because of issues concerning open water and sewer charges with respect to the Center Property; and

WHEREAS, the parties are desirous of resolving such issues, so as to allow such closing to proceed expeditiously;

AGREEMENTS

NOW, THEREFORE, in consideration of the covenants herein contained, the parties hereto agree as follows:

NYC-WTC 000137787