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Exhibit 5
Sample Unit Deed

THIS DEED, made this _____ day of ______ in the year 19_____, between CEDARS DEVELOPMENT CORPORATION OF NEW JERSEY, a corporation of the State of New Jersey having an office at 1640 Vauxhall Road, Union, New Jersey, referred to in this document as "Grantor", and residing at _________________________, referred to in this document as "Grantee". (The words "Grantor" and "Grantee" include all Grantors and all Grantees under this Deed.) In return for the payment to the Grantor by the Grantee of __________($___________) Dollars, the Grantor grants and conveys to the Grantee a certain Condominium Unit, located in the Township of Bernards, County of Somerset and State of New Jersey, specifically described as follows:

Unit _______, situated in The Cedars, A Condominium, together with an undivided _________ percentage interest in the Common Elements of the Condominium (referred to in this Deed as the "Unit"). The conveyance evidenced by this Deed is made under the provisions of Condominium Act (N.J.S.A. 46:8B-1 et seq.) and the Planned Real Estate Developement Full Disclosure Act (N.J.S.A. 22A-21 et seq.) as amended, and any applicable regulations adopted under either law. The conveyance evidenced by this Deed is also made in accordance with the terms, limitations, conditions, covenants, restrictions, easements, agreements and other provisions set forth in that certain Master Deed for The Cedars, A Condominium dated _______ and recorded _______, in Deed Book _______, Page _____, et seq. of the Office of the Clerk of Somerset County, as same may now or hereafter be lawfully amended.

  1. The Unit is now designated as Lot ____ in Block ______ on the municipal tax map of the Township of Bernards (or as Account No. _________ ).
  2. No property tax identification number for the Unit is available at the time of this conveyance.
  3. (check applicable box)

The Unit is subject to the Master Deed, as amended, mentioned above and all its exhibits including all easements, terms, conditions, reservations, rights-of-way, air rights, covenants of record, governmental statutes, ordinances and regulations, possible added assessments for the year of sale as set or levied under N.J.S.A. 54:4-63.1, et seq. And all facts that an accurate survey may disclose.

This Deed entitles the Grantee to have and to hold for its proper use and benefit forever the premises and all it is subject to as described in this document.

The Grantor covenants that the Grantor has done nothinq which encumbers or adversely affects title to the Unit or the Common Elements of the Condominium.

By the acceptance of this Deed, the Grantee consents to any future amendments or revisions of the Master Deed or the By-Laws of the Condominium Association (referred to in this Deed as the "Condominium Documents"), which may be required by the laws or governmental agencies of the State of New Jersey in connection-with the sale of any property described in either of the Condominium Documents, and/or by any title insurance company insuring title to any portion of the Condominium at the Grantor's request, and/or by an institutional lender (including the Grantor) providing mortgage loans to Unit Owners.

If amendment is required for any one of the reasons described above, then the Grantee expressly agrees that the Grantor is authorized, on behalf of the Grantee, to sign and record any documents necessary to make the amendment effective. This authority is called a power of attorney and the Grantor, in exercising this authority, is referred to as the Grantee's attorney-in-fact. By signing this Deed, the Grantee designates the Grantor as having this authority. This power of attorney will be binding upon anyone who claims an interest in the Unit by or through the Grantee, such as a mortgagee, other lienholder, a purchaser, a tenant or someone with an interest acquired through a will or by operation of law. If an amendment is required for one of the reasons expressed, only the signature of the attorney-in-fact is required in order for the amendment to be effective. However, the Grantor may not exercise its authority as attorney-in-fact without a separate written consent of the Grantee if the amendment would substantially change the floor plan of the Unit, or the percentage interest in the Common Elements associated with the Unit, increase the financial obligations of the Grantee under the Condominium Documents, or reserve any additional special privileges for the Grantor.

The Grantee declares and acknowledges that this power of attorney is coupled with an interest in the subject matter. The Grantee understands that the Grantor has caused the Condominium Documents to be adopted and recorded and that these Documents are binding on the owners of all Units in the Condominium for the mutual benefit of the owners of all Units including the Grantor. The Grantor, as the Developer of the Condominium, the initial seller of all Units and as a present owner of Units, has an interest in the Condominium and the amendment of the Condominium Documents under the circumstances described. For this reason, this power of attorney may not be revoked by the Grantee.

The power of attorney will be effective for a period of five (5) years from the date that the first Unit is conveyed to a Buyer, or until the Grantor conveys title to the last Unit, whichever occurs first. This power of attorney shall not be affected by the death or disability of any principal.

The Grantor has received the full payment from the Grantee.

This Deed is signed by the Grantor and the Grantee(s) on the date first mentioned above.

ATTEST:_____________________________

WITNESS:____________________________

CEDARS DEVELOPMENT CORPORATION OF NEW JERSEY, Grantor

By:__________________________________

_____________________________________(L.S.)

Grantee

Grantee

Grantee

CERTIFICATE OF ACKNOWLEDGMENT BY INDIVIDUAL

STATE OF NEW JERSEY SS.:
COUNTY OF

I am ______________________________________________, an officer authorized to take acknowledgements and proofs in this State. I sign this acknowledgment below to certify that it was made before me.

On ________________, 19___, _________________________

appeared before me in person. (If more than one person appears the words "this person" shall include all persons named who appeared before the officer and made this acknowledgment.) I am satisfied that this person is the person named in and who signed this Deed as the Grantee. This person acknowledged signing, sealing and delivering this Deed as this person's act and deed for the uses and purposes expressed in this Deed.

(Officer's signature and title)

CERTIFICATE OF ACKNOWLEDGMENT BY CORPORATION

STATE OF NEW JERSEY SS.:
COUNTY OF

I certify that on _________________, 19_____, ______________ personally before me appeared this person acknowledged under oath, to my satisfaction, that :

  1. this person is the Secretary of CEDARS DEVELOPMENT CORPORATION OF NEW JERSEY, the corporation named in the attached document;
  2. this person is the attesting witness to the signing of this document by the proper corporate officer who is ______________________________, the __________________ of the of the corporation;
  3. this document was signed and delivered by the corporation as its voluntary act duly authorized by a proper resolution of its Board of Directors;
  4. this person knows the proper seal of the corporation which was affixed to this document;
  5. the full and actual consideration paid or to be paid for the transfer of title to the realty evidenced by this Deed, as such consideration is defined in P.L. 1968, c.49, 1(c), is $_________________, and
  6. this person signed this proof to attest to the truths of these facts.

____________________________________

Secretary

Signed and sworn to before me on _____________, 19____.

____________________________________

(Office and Title)

This web site contains a copy of the Association's Master Deed and By-Laws. This has been included for easy reference for our unit owners. The Cedars at Basking Ridge Condominium Association and GSID do not warrant or guarantee the accuracy of the document as it appears in the web site and will not be responsible for any errors it may contain.


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