4. This lease is made, executed, delivered and accepted by the Tenant upon the express condition that the same shall cease, determine and become null and void upon the happening of either or all of the following contingencies:
(a) In case at any time during the term of this lease the Tenant shall cease to be the owner of and shall cease to have standing in the name of the Tenant on the books of the Landlord at least the number of shares of the capital stock of said Landlord above specified.
(b) In case at any time during the term of this lease the
Tenant shall attempt to sell or dispose of said shares of capital stock or any part thereof of this lease otherwise than in accordance with the provisions of the by-laws of the Landlord, which said provisions are to be stamped upon the certificate of said stock and is hereby made a part of this lease and reads as follows:
"No stock of this corporation issued to a lessee of an apartment thereof shall be sold, assigned or transferred, (other than to a member of the lessee's household, at the time of his death) except to the corporation itself, until after it has been offered to this corporation for thirty days for a sum equal to such a percentage of the value of the net assets of the corporation at the time of said offer as the amount of the stock so offered for sale bears to the total of the amount of the stock of the corporation then outstanding, and the corporation shall for said thirty days have failed to purchase the same for said amount and the secretary or one of the directors of the corporation shall have so certified. In case there is a difference of opinion as to the net value of the assets of the corporation between the stockholder so offering his stock for sale and the corporation, the corporation and the said stockholder shall each appoint an appraiser of the net assets then owned by the corporation, and if said appraisers agree as to the valuation of said net assets their judgment shall be final. If they cannot agree, the said appraisers shall select a third appraiser, whose valuation of said net assets shall be final and conclusive both on the corporation and on said stockholder.
"No stock of this corporation issued to a lessee of any apartment shall be transferred to any person (other than to a member of a stockholder's household at the time of his death), unless the transferee shall have been approved by the board of directors. No stock designated as carrying a right to a lease shall be transferred unless the lease is also assigned at the same time to the same transferee, nor shall any lease be assigned unless the stock, to which said lease is appurtenant, shall be transferred to the same transferee.
"The stock hereby represented is continuously pledged to the company for the payment of any obligation or liability to the company of the holder of said stock or of any occupant or lessee or any person claiming through or under said holder of said apartment lease, and otherwise, and will not be transferred except upon such payment and said lien shall be superior to any other claim of any sort in or to said stock and said stock shall not be otherwise encumbered or mortgaged."
This lease is made subject to the right of the Landlord to sell any and all real estate owned by it, provided such sale is approved at a meeting of the stockholders by a vote of three-quarters of the shares of capital stock outstanding at the time of said meeting, and this lease is subject to termination at the option of the board of directors of this corporation in case of such a sale on the first day of October following the execution and delivery by the Landlord of a contract for the sale of real estate, of which the demised premises form a part, or in case the customary date for the termination of leases in the Borough of..........of apartments, of the general character of those leased by the lessor, should change from the first day of October to some other day in the year, then on the first one of such customary days following the execution and delivery by the Landlord of such a contract, but this Tenant shall be entitled to thirty days' notice prior to the day fixed for such termination.
6. The Tenant for........self and........legal representatives doth covenant and agree to and with the Landlord, as follows: a. That the Tenant will pay as rent both the specified sums and the additional payments aforesaid, as above provided.
b. That, throughout said term, the Tenant will take good care of the demised premises and appurtenances, and suffer no waste or injury; make at his own cost as and when needed, in his judgment, all interior repairs in and about the demised premises and the fixtures and appurtenances as he may desire; comply with all laws, ordinances and governmental regulations, and the regulations of the New York Board of Fire Underwriters, applicable to the demised premises; throughout said term and forever afterward, indemnify and save harmless the Landlord for and against any and all liability, arising from injury during said term to any person or property, occasioned wholly or in part by any act or omission of the Tenant or of the guests, servants, assigns or underlessees of the Tenant.
c. That the Tenant will not do anything, or suffer anything to be done upon the demised premises which will increase the rate of fire insurance upon said building; will not permit the accumulation of waste or refuse matter, and will not, without the written consent of the Landlord first obtained in each case, mortgage or pledge this lease or underlet the demised premises or any part thereof, make any alteration in the demised premises, or use the demised premises or any part thereof or suffer the same to be used, for any purpose other than as a private dwelling apartment, nor by anybody other than the Tenant and the household of the Tenant. It is hereby expressly understood and agreed that the character of the occupancy of the demised premises, as above expressed, is an especial consideration and inducement for the granting of this lease by the Landlord to the Tenant, and in the event of a violation by the Tenant of the restriction against subletting or assignment, or if the Tenant shall cease to occupy the premises without notice to the Landlord, or permit the same to be occupied by parties other than as aforesaid, or violate any other restriction or condition herein imposed, this lease may, at the option of the Landlord or the agents or assigns of the Landlord, be terminated in the manner herein provided.