This document is a summary of the agreement between Leon D. Black and NY 70th Street LLC regarding the purchase of a townhouse on 70th Street. It outlines the split-interest purchase arrangement, where Leon D. Black acquires a life interest and the LLC acquires a remainder interest. The document details the rights and responsibilities during Leon's lifetime, including living rights and expense responsibilities, and the transfer of ownership to the LLC upon his death. It also covers the conversion of the arrangement to an annuity trust if the residence is no longer used as a personal residence.
documents/EFTA00586688.pdf
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