DATE:     January 02, 2007

TO:          BUILDING RESIDENTS
                 350 BLEECKER STREET APARTMENT CORP.

FROM:    BOARD OF DIRECTORS
                  350 BLEECKER STREET APARTMENT CORP. (THE "CORPORATION")

RE:           USE OF GYM

The undersigned acknowledges that he or she has received a key for the gym and by signing below agrees to abide by the following rules:

     1. No person is permitted to use the gym or its equipment unless such person is a legal resident of the building or an invitee of a resident. Any invitee using the gym must be accompanied by a resident.
     2. All persons using the gym do so at their sole risk and responsibility.
     3. Any damage to the gym caused by the acts or omissions of a resident or such resident's invitee shall be repaired or replaced by the Corporation at the sole cost and expense of such resident.
     4. One key will be issued per apartment unit. Invitees do not have any right to receive a key to the gym. Lost keys will be subject to a $20 replacement cost.
     5. The gym may be used 24 hours per day, 7 days per week, subject to and in accordance with the other rules and regulations governing a resident's occupancy.
     6. No person under the age of 16 is permitted in the gym without being accompanied by an adult.
     7. No equipment may be removed from the gym.
     8. Users of the gym must bring a towel and always wipe down the equipment after each use.
     9. There is a 30-minute limit on equipment usage if someone is waiting to use such equipment.
     10. The gym may not be used as a place of business or profit center.
     11. No smoking, spitting or consumption of alcohol is permitted in the gym.
     12. In addition to all other rights that the Corporation has for nonpayment of common charges, fines, and assessments, the Board of Directors shall have the right to bar residents (or residents' invitees) from
           using the gym for failure to make payment of any common charges, fines and assessments of fees due as provided for in such resident's Proprietary Lease.
     13. Each resident hereby releases, defends, indemnifies and holds the Corporation harmless from and against any and all claims, liabilities, causes of action, costs and expenses (including reasonable attorneys'
            fees) arising out of or relating to the use or misuse of the gym by such resident or such resident's invitees, including, without limitation, any injury such resident (or such resident's invitee) may sustain while
            in the gym, to the fullest extent permitted by law.
     14. The Board of Directors may, in its discretion, modify or amend the rules governing the use of the gym at any time and from time to time.

_________________________________               _________________________________
                             Print Name                                                                               Print Name

___________________________ Apt. No. _____           __________________________ Apt. No. _____
                    Signature                                                                                              Signature

cc: Anthony Colella
       Mary Frances Shaughnessy
       Howard J. Lazarus