The Meter is Running
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41 legal experts on game-changing laws, rules, and cases.
AUTHORDale J. DeGenshein, Special Counsel, Stroock & Stroock & Lavan
PAGE #p. 32
Horowitz v. 1025 Fifth Avenue
Michael Horowitz had a 30-foot awning above his terrace for many years. When the upstairs tenants proposed installing a through-wall air conditioning unit that would be blocked by the awning, the board required removal of the awning. Horowitz refused to comply.
"The proprietary lease is a contract, just like any other contract, and you really have to read it to understand what it means. This is especially true when a shareholder challenges a board decision or a house rule. Two provisions, in particular, are important – the non-waiver provision and the attorney fee provision. As the parties here learned, those provisions can work for you or against you."
To read the full lecture, visit: http://bit.ly/DDegenshein