As of 3/19/15

REQUIREMENTS FOR THE SUBLET OF AN APARTMENT AT

320 EAST 42ND

STREET (WOODSTOCK OWNERS CORP.)

Please submit (1) ONE ORIGINAL and (2) Two COLLATED SETS- MUST BE IN LISTED

ORDER.

1. Sublease Agreement Form (form attached), must be signed by both parties.

2. Completed Sublet Application Form.

3. Signed and Dated Rules of the Cooperative as set forth in the By-Laws, House Rules &

Proprietary Lease form.

4. Signed and Dated Request for Approval of Sublet form.

5. Completed Shareholder Emergency Notification Registration form.

6. Guest Policy, signed.

7. Bank balance confirmation letters or copies of most recent statements for each bank or money

market account.

8. Employer reference letter stating position, length of employment, current salary (including

bonuses) and prospect for continued employment.

9. Landlord Reference letter or Managing Agent letter.

10. Three (3) Character reference letters (no relatives).

11. Copy of Photo identification.

12. Signed and dated Move Policy & Authorization.

13. Signed and dated Recycling Form.

14. Signed and dated Rubbish Removal Form.

15. Certified check or money order made payable to Orsid Realty Corp of $ 250.00 for sublet

application processing fee. This fee is non – refundable, must be in the package.

16. A non-refundable credit report fee in the amount of $ 50.00, per applicant, payable to Orsid Realty

Corp.

17. A non-refundable processing / handling fee of $ 100.00, payable to Woodstock Owners Corp.

Must be included in the sublet application package.

As of 3/19/15

18. A move in deposit of $ 250.00 (paid by applicant)*, is required prior to moving into the building.

Check or money order should be made payable to Woodstock Owners Corp. and must be included

in the sublet application package. Please read the move policy for further instruction. Must be

included in the package. *The move-in deposit will be waived if the tenant is an existing tenant

or if the tenant is not moving anything in or out of the building (furnished apartment or moving in

suitcase only).

19. A move out deposit of $ 250.00 (paid by shareholder), is required prior to moving into the

building. Check or money order should be made payable to Woodstock Owners Corp. and must be

included in the sublet application package. Please read the move policy for further instruction.

If apartment is vacant then the move out deposit is not required.

20. A non-refundable move in fee of $ 300.00 (paid by applicant)*, payable to Woodstock Owners

Corp. Must be included in the package. *The move-in fee will be waived if the tenant is an

existing tenant or if the tenant is not moving anything in or out of the building (furnished

apartment or moving in suitcase only).

21. A non-refundable move out fee of $ 300.00 (paid by shareholder)*, payable to Woodstock

Owners Corp. Must be included in the package. *The move-out fee will be waived if the tenant

is an existing tenant or if the tenant is not moving anything in or out of the building (furnished

apartment or moving in suitcase only).

22. Disclosure of Information on Lead-Based Paint or Lead Based Hazard Form, must be signed and

dated.

23. Window guard form, signed and dated.

24. Signed Air-conditioning policy (form enclosed).

25. Signed Credit Report Release for all applicants including guarantors.

26. Carpet Rider, must be signed.

27. Air-Condition Rider must be signed.

28. Pet Rider, must be signed.

29. The sublet fee is 30% of maintenance, billed monthly.

See attached Sublet Policy

Subtenants are bound by the Corporation’s House Rules and Move-In policy.

Subtenants will be interviewed by the Board of Directors prior to approval / or moving into the

apartment.

No short term leases will be allowed. The minimum term is one year at a time.

As of 3/19/15

Maintenance payments and ANY additional fees/ assessments/ late fees or legal fees must be paid

by the shareholder IN FULL PRIOR TO PACKAGE BEING PROCESSED.

If for any reason tenant breaks the lease, the shareholder will be held responsible to pay for the

full sublet fee until the end of the term of the lease.

Shareholders are responsible at all times for all activities within their apartments.

PLEASE FORWARD ALL THE ABOVE DOCUMENTS AND THE APPROPRIATE COPIES FOR

PROCESSING TO:

ORSID REALTY CORP.

1740 BROADWAY - 2ND

FLOOR

NEW YORK, NY 10019

ATTN: ANITA SEHWANI

IMPORTANT NOTE:

PLEASE DO NOT SEND AN INCOMPLETE PACKAGE. IT WILL NOT BE PROCESSED

UNTIL IT IS COMPLETE. SHOULD YOU HAVE QUESTIONS, PLEASE CONTACT

ANITA SEHWANI AT 212 247-2603.

TO: ALL SHAREHOLDERS DATE: SEPTEMBER 10, 2014 Woodstock Sublet Policy As most of you are aware, a shareholder entered into litigation against the Corporation in 2009 in connection with the Corporation’s sublet policy. The policy specifically prohibited apartments that were sold or otherwise transferred after October 2002 from being sublet. The sublet policy was made by the Board of Directors in 2002 in an effort to increase the owner occupancy rate of the building. It was successful - over the past 11 years, the owner occupancy of our cooperative has increased from 30% to 65%. It is important to note that the policy improved the quality of life in the cooperative, and it made the cooperative more credit worthy because many financial institutions mandate that cooperatives /condominiums have an owner occupancy rate of at least 60%. After a lengthy five year legal process, the court has determined that the Cooperation’s ‘no sublet policy’ for shareholders purchasing after 2002 violates the Business Corporation Law which requires that all shares in the same class must be equal. As a result of the court’s decision, the Board consulted with other co-op Boards and with legal counsel regarding sublet policies. The court’s decision necessitates a change in Woodstock’s overall sublet policy. The court’s decision also presented the Board with the opportunity to make overdue adjustments to some of the financial aspects of the old policy. Many of the items that bring income into the building were based on fixed values and not tied to market value and therefore had not been adjusted to current rates for many years. Fixed values have not allowed fees to keep pace with the increased costs of running the building. Effective immediately, the Board has adopted an open sublet policy for all units (except for sponsor units or units occupied by rent-regulated tenants, as noted below) within the building. All apartments will be permitted to be sublet for renewable one year terms, upon submission of the complete sublet package and approval of the application and the proposed tenant by the Board of Directors. All shareholders who are subletting their apartment(s) will be charged a monthly sublet fee of 30% of the monthly maintenance fee. For example, if your monthly maintenance is $600, the monthly sublet fee will be $180.00. Please note the following regarding the new policy:

For existing sublet apartments where there is a lease currently in effect: The new policy and sublet fee will apply for all future renewal leases whether the lease is renewed with the existing tenant or a new tenant when the current lease expires. Should an existing tenant move out before the expiration of the lease, the policy will apply to any request for a new sublet.

For new sublets: Any shareholder who wishes to sublet an apartment will be subject to the new policy and must submit a sublet application package and will be charged the sublet fee at a rate of 30% of maintenance per unit, per month, billed monthly.

For existing sublet apartments where there is an expired lease and a renewal application has not been submitted: Any apartment which does not have a current approved lease (upon the date of this letter) must immediately comply with the new sublet policy. The shareholder has until October 1, 2014 to submit a sublease package with the new lease and all required fees and documentation. If a package is not submitted within the deadline, the matter will be sent to legal to commence proceedings to remove the tenant and the “failure to have an approved lease” penalty will be in effect at the rate of $250 per month in addition to the 30% sublet fee

until the lease is renewed. This charge is without prejudice to the Board’s right to institute legal proceedings if the shareholder fails to apply to renew the lease within the October 1, 2014 deadline. Please note this applies to expired leases only – not illegal sublets, which are discussed below.

We are instituting the following new policies effective upon the date of this letter:

For all sublets: Failure to pay any/all fees on time for 3 consecutive months will result in the Board referring the matter to Corporate counsel to commence eviction proceedings. The shareholder will be charged all incurred costs. In addition to eviction proceedings, the Board reserves the right to impose a 2 year probationary period during which the owner may not sublet the apartment.

The Board reserves the right to alter sublet fees, or any other aspects of this policy, at any time, which would be effective as above upon renewal of an existing approved lease or immediately if there is no existing lease.

All tenant leases are required to be one year.

If a subletting tenant moves out of an apartment before the lease expires, sublet fees will NOT be pro-rated; the shareholder will be responsible to pay the sublet fees for the remainder of the lease.

The Board reserves the right to deny sublet applications in its reasonable business judgment as authorized by Paragraph 15 of the Proprietary Lease without explanation.

Illegal sublets (sublets without Board approval) are forbidden. Should the Board become aware of an illegal sublet, the Board will institute legal proceedings to evict the tenant immediately and the shareholder will be charged a $1000/mo penalty until the tenant is evicted. The shareholder will be charged all incurred costs. The Board reserves the right to impose a 2 year probationary period during which the shareholder may not sublet the apartment.

All shareholders and tenants must comply with the Corporation’s House Rules. Failure of a tenant to comply may result in the Board referring the matter to legal counsel to begin eviction proceedings.

The Board has altered the following administrative fees:

FEE Breakdown NEW POLICY

Application fee for new tenant $350

Per applicant credit report $50 Sublet renewal fee for renewal of lease for existing tenant $175

Non-refundable move-in fee $300

Non-refundable move-out fee $300

Refundable move in damage deposit $250

Refundable move out deposit for $250

Failure to have an approved lease (expired lease) fee $250/mo

Illegal sublet fee $1000/mo The new policy will apply to all shareholders with the exception of apartments (i) owned by the Sponsor or (ii) occupied by rent-regulated tenants, whether owned by the Sponsor or by a shareholder (this is pursuant to the rent guidelines which were incorporated into the offering plan when the building was

converted to a cooperative in 1987). Sponsors have the right pursuant to the Offering Plan to rent their apartments until their units are sold. Once the rent-regulated tenant moves out of an apartment owned by a non-sponsor shareholder, the policy will apply to that apartment. We appreciate your support as we labored over this difficult decision. If you have any questions or require any additional information, please contact Eileen Aluska at 212-484-3779. Sincerely, Board of Directors Woodstock Owners Corp.

COMPLETE FORM AND RETURN TO SUPERINTENDENT

Woodstock Owners Corp. 320 East 42nd Street

New York, NY 10017

MOVE POLICY & AUTHORIZATION

The Board of Directors has established a Move Policy to:

Assure adequate staff available to monitor moves and operate the freight elevator(s)

Avoid conflicts with other moves and/or building maintenance or repair

Protect our hallways and elevator cabs

Apartment No. Shareholder’s Name:

Date of Move: Time: (AM/PM) Type: Move-In:

Move-Out:

Name of Person Moving:

Telephone Numbers: (day) (evening)

If mover is other than Shareholder, please specify:

(Subtenant, Member of immediate family, Other). NOTE: Board approval required for Sublet.

MOVE PROCEDURES:

All moves must be approved in writing by the Superintendent at least one (1) week prior to the move date. He may be

reached in person or at 212 557 3631.

Moves are permitted from 8:30 AM to 4:00 PM every day, EXCEPT Sundays. A $35.00 per hour charge will be assessed if

the move is completed after 4:00 PM.

All moves must be through the building service entrance; moves are not permitted through the lobby or in passenger

elevators. Please advise your movers accordingly.

Movers must provide Masonite to protect the hallway floor from the service elevator to the apartment door.

A non-refundable move-in fee of $300.00 (paid by applicant) is required one (1) week in advance of the move. A check or

money order payable to Woodstock Owners Corp. should be given to the Superintendent.

A non-refundable move-out fee of $300.00 (paid by shareholder) is required one (1) week in advance of the move. A

check or money order payable to Woodstock Owners Corp. should be given to the Superintendent.

A refundable move-out deposit of $250.00 (paid by shareholder) is also required one (1) week in advance of the move. A

check or money order payable to Woodstock Owners Corp. should be given to the Superintendent. This deposit is refundable

pending an inspection by the Superintendent subsequent to the move. Any damages caused to the building as a result of the

move will be deducted from the deposit.

A refundable move-in deposit of $250.00 (paid by applicant) is required one (1) week in advance of the move. A check or

money order payable to Woodstock Owners Corp. should be given to the Superintendent. This deposit is refundable pending

an inspection by the Superintendent subsequent to the move. Any damages caused to the building as a result of the move will

be deducted from the deposit.

A fee of $35.00 an hour will be charged for moves occurring on Saturday, a maximum of two (2) moves will be permitted;

one during the morning and one during the afternoon. Moves will be scheduled on a first-come first-serve basis.

The above named resident read and acknowledges the above:

Signature Date

Initials of Superintendent: Approved:

Not Approved: