Bruyere Chadwick Realty, LLC

6 Lafayette Street

Ogdensburg, NY 13669Commercial Agents: Jim & Allison Chadwick

Jim-315-323-5956 Allison- 315-323-1226

a

$__________________

For Sale: Commercial uilding-former School

616 ensselaer Ave. Ogdensburg, NY

DETAILS

Tax Map# 59.022-14-002-Currently owned by St. Lawrence-Lewis Boces used as an office building. Theproperty is exempt for taxes, however the city’s stated assessment is $311,800 and the lot size is 1.33 acres330’Rensselaer Ave. x 176’ Ogden St’. The building is a 2-story steel frame masonry structure with brickexterior containing 26,848 Sq. Ft. including a full finished basement level. The school was built in 1928. Thebuilding is heated two gas boilers (low pressure system) installed in 1967(well maintained). The windows areolder single hung, fixed pane transom, slider/metal. Hot water/gas thru wall A/C basement unit. The school’selectrical service is three phase, 800 Amps. Elevator with three stops and a non-functioning front entrance lift.The building uses the city’s water & sewer services. The rubber roof was installed in 2007. The pavedparking areas can hold app. 56 cars. This basement level contains:-a gym, 5 offices/work Rm.2-fixturerestroom, woodworking Rm., boiler Rm. w/utility sink and a weight Rm. The first floor contains: a storageRm. Over a former stage, 3 offices, meeting Rm., classroom, men’s Rm. w/3loilets (including 1-handicapp

accessible stall), 2 urinals, 2 sinks, ladies Rm. with 4 toilet stalls, 1-handicap accessible stall, 2 sinks, janitorcloset and roof access, unisex 2 fixture restroom, meeting Rm., large office, The building with its centrallocation would make it ideal for many uses. The building was commercially appraised 3/28/2012 for$385,000 by Michael Varley/Varley appraisal group, Inc.

Seller:__________________________________________________ I -

A +. /ngeflt. -

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New York StateDEPARTMENT OF STATEDivision of Licensing ServicesP.O. Box 22001Albany, NY 12201-2001

Customer Service: (518) 474-4429www.dos.state.ny.us

New York State Disclosure Form for Buyer and Seller

THIS IS NOT A CONTRACTNew York State law requires real estate licensees who

are acting as agents of buyers or sellers of property toadvise the potential buyers or sellers with whom theywork of the nature of their agency relationship and therights and obligations it creates. This disclosure will helpyou to make informed choices about your relationshipwith the real estate broker and its sales agents.

Throughout the transaction you may receive more thanone disclosure form. The law may require each agentassisting in the transaction to present you with this disclosure form. A real estate agent is a person qualified toadvise about real estate.

If you need legal, tax or other advice, consult with aprofessional in that field.

on terms acceptable to the buyer. A buyer’s agent has,without limitation, the following fiduciary duties to thebuyer: reasonable care, undivided loyalty, confidentiality,full disclosure, obedience and duty to account. A buyer’sagent does not represent the interest of the seller. The obligations of a buyer’s agent are also subject to any specific provisions set forth in an agreement between the agentand the buyer. In dealings with the seller, a buyer’s agentshould (a) exercise reasonable skill and care in performance of the agent’s duties; (b) deal honestly, fairly andin good faith; and (c) disclose all facts known to the agentmaterially affecting the buyer’s ability and/or willingnessto perform a contract to acquire seller’s property that arenot inconsistent with the agent’s fiduciary duties to thebuyer.

Disclosure Regarding Real EstateAgency Relationships

Seller’s AgentA seller’s agent is an agent who is engaged by a seller torepresent the seller’s interests. The seller’s agent does thisby securing a buyer for the seller’s home at a price and onterms acceptable to the seller. A seller’s agent has, without limitation, the following fiduciary duties to the seller:reasonable care, undivided loyalty, confidentiality, fulldisclosure, obedience and duty to account. A seller’sagent does not represent the interests of the buyer. Theobligations of a seller’s agent are also subject to any specific provisions set forth in an agreement between theagent and the seller. In dealings with the buyer, a seller’sagent should (a) exercise reasonable skill and care in performance of the agent’s duties; (b) deal honestly, fairlyand in good faith; and (c) disclose all facts known to theagent materially affecting the value or desirability ofproperty, except as otherwise provided by law.

Buyer’s AgentA buyer’s agent is an agent who is engaged by a buyer torepresent the buyer’s interests. The buyer’s agent doesthis by negotiating the purchase of a home at a price and

Broker’s AgentsA broker’s agent is an agent that cooperates or is engagedby a listing agent or a buyer’s agent (but does not workfor the same firm as the listing agent or buyer’s agent) toassist the listing agent or buyer’s agent in locating aproperty to sell or buy, respectively, for the listing agent’sseller or the buyer agent’s buyer. The broker’s agent doesnot have a direct relationship with the buyer or seller andthe buyer or seller can not provide instructions or direction directly to the broker’s agent. The buyer and the seller therefore do not have vicarious liability for the acts ofthe broker’s agent. The listing agent or buyer’s agent doprovide direction and instruction to the broker’s agentand therefore the listing agent or buyer’s agent will haveliability for the acts of the broker’s agent.

Dual AgentA real estate broker may represent both the buyer and seller if both the buyer and seller give their informed consent in writing. In such a dual agency situation, the agentwill not be able to provide the full range of fiduciary duties to the buyer and seller. The obligations of an agentare also subject to any specific provisions set forth in anagreement between the agent, and the buyer and seller.An agent acting as a dual agent must explain carefully to

DOS-1736-a (Rev. 11/10)

both the buyer and seller that the agent is acting for theother party as well. The agent should also explain thepossible effects of dual representation, including that byconsenting to the dual agency relationship the buyer andseller are giving up their right to undivided loyalty. Abuyer or seller should carefully consider the possible consequences of a dual agency relationship before agreeingto such representation. A seller or buyer may provide advance informed consent to dual agency by indicating thesame on this form.

Dual Agent with Designated Sales AgentsIf the buyer and seller provide their informed consent inwriting, the principals and the real estate broker whorepresents both parties as a dual agent may designate asales agent to represent the buyer and another sales agentto represent the seller to negotiate the purchase and saleof real estate. A sales agent works under the supervision

of the real estate broker. With the informed consent of thebuyer and the seller in writing, the designated sales agentfor the buyer will function as the buyer’s agent representing the interests of and advocating on behalf of the buyerand the designated sales agent for the seller will functionas the seller’s agent representing the interests of and advocating on behalf of the seller in the negotiations between the buyer and seller. A designated sales agent cannot provide the full range of fiduciary duties to the buyeror seller. The designated sales agent must explain thatlike the dual agent under whose supervision they function, they cannot provide undivided loyalty. A buyer orseller should carefully consider the possible consequences of a dual agency relationship with designatedsales agents before agreeing to such representation. A seller or buyer may provide advance informed consent todual agency with designated sales agents by indicatingthe same on this form.

This form was provided to me by James J Chadwick (print name of licensee) of Bruyere Chadwick Realty, LLC

(print name of company, firm or brokerage), a licensed real estate broker acting in the interest of the:

CL....) Seller as a (check relationship below)

Seller’s agent

(__) Broker’s agent

(_) Buyer as a (check relationship below)

L....) Buyer’s agent

LJ Broker’s agent

(...........) Dual agent

(.......) Dual agent with designated sales agent

For advance informed consent to either dual agency or dual agency with designated sales agents complete section below:

(-...........) Advance informed consent dual agency

() Advance informed consent to dual agency with designated sales agents

If dual agent with designated sales agents is indicated above: is appointed to

represent the buyer; and is appointed to represent the seller in this transaction.

(I) (We) acknowledge receipt of a copy of this disclosure

form: signature of

Date:

Buyer(s) and/or { / } Seller(s):

Date

DOS-1736-a (Rev. 11/10)

Is? BRUYERE CHADWICK REALTY, LLC

OFFICE: 315-393-1234 FAX: 315-393-1920

EMAIL: info@bruyerechadwickrealty.comEXCLUSIVE RIGHT TO SELL CONTRACT

I (We) the owners, employ you, BRUVERE CHADWICK REALTY, LLC, to sell or to contract to sell the real property described as follows:Commercil building situated on a lot app. size-330x176 locted at 616 Rensselaer Ave. Ogdensburg, NY 13660- TaxMap#59.022-14-002 for a purchase price of no less than $______________ or at a price or terms which I (We) authorize. When saidproperty is sold, I (We) agree to execute and deliver a sufficient warranty deed, or other deed acceptable to the buyer, with abstract of title andtax searches, and to pay BRUYERE CHADWICK REALTY, LLC a commission of 10% on the sale or exchange price, but in no event less than$1000.00, whether such a sale is made by BRUYERE CHADWICK REALTY, LLC, myself, or anyone else while this agreement remains in force. I(We) understand that if I terminate the Listing Broker’s authority prior to the expiration if its term, the Listing Broker shall retain its contractrights (including but not limited to recovery of its commission, advertising expenses, attorney fees and/or any other damages — minimum feedue firm for termination $250.00). It is further understood that during the unexpired term of this contract, I (We) cannot list the property withany other broker.

This contract is to expire at midnight August 1,2014; but if a sale of said property is made within six months thereafter to a buyerwhom BRUYERE CHADWICK REALTY,LLC has either shown the property, or had discussions relating to the property, I (We) agree to payBRUYERE CHADWICK REALTY,LLC the commission as aforementioned. If a buyer, lessee or transferee ready, willing and able to buy, lease orexchange for this property or business is procured by you or anyone else, I agree to pay you BRUYERE CHADWICK REALTY, L LC the fullcommission (Upon written request seller may receive a list of such prospective buyers.)

I (We) authorize my attorney to pay commission due or balance thereof to BRUYERE CHADWICK REALTY, LLC directly from theproceeds at closing. All funds left in deposit with BRUYERE CHADWICK REALTY, LLC shall be held in escrow, and any deposit forfeited by a buyershall be divided equally between the broker and seller, not to exceed the full amount of commission. I further agree that if a purchaser is foundby BRUYERE CHADWICK REALTY, LLC ready, able, and willing to comply with the above mentioned terms and I choose not to accept them, I willstill pay the above (full) mentioned commission to BRUYERE CHADWICK REALTY, LLC.

BRUYERE CHADWICK REALTY,LLC is hereby authorized to place a “For Sale” sign on said property and share this listing with other realestate agencies in the St. Lawrence County multiple listing service (MLS). I (We) authorize BRUYERE CHADWICK REALTY,LLC to cooperate withbrokers who represent buyers with the understanding that such BUYERS BROKERS will be representing only the interests of the prospectivebuyer, the compensation to the buyer’s broker in this transaction shall be 5 % of the gross selling price the COOPERATING BROKER also called

the selling broker, or outside broker shall receive 5% of the gross selling price. Both Buyers Broker & Cooperating Brokers traditionally arecompensated through a commission split with the listing broker.

I (We) agree to cooperate with BRUYERE CHADWICK REALTY, LLC in making the property available to show at reasonable hours, andby providing a key for use as necessary. I (We) represent that that property description, listing information, and property condition disclosureforms are complete and correct. BRUYERE CHADWICK REALTY, LLC does not certify nor guarantee the accuracy of such description andinformation given by seller. By our signatures below, I (We) further represent that I (We) own said property, or have been designated asauthorized agents of said owner to sell the property.

It is agreed that my property is listed in full compliance with local, state, and Federal Fair Housing Laws against discrimination on thebasis of race, color, religion, sex, national origin, family status, marital status, children, age, or disability.

The following are terms which are explained as per Department of State regulations:

~An “EXCLUSIVE RIGHT TO SELL” listing means that if you, the owner of the property, find a buyer for your house, or if another broker finds abuyer, you must pay the agreed commission to the present broker.

flAn “EXCLUSIVE AGENCY” listing means that if you, the owner of the property, find a buyer, you will not have to pay a commission to thebroker. However, if another broker finds a buyer, you will owe a commission to both the selling broker and your present broker.

I (We) certify that the information is accurate to the best of my knowledge. I also authorize the distribution of information on my listing topotential buyers and on the Internet. I authorize the SLCBOR to receive compensation for the distribution of the information.

We hereby acknowledge the receipt of: Explanation of the Exclusive Right to Sell and Exclusive Agency types of listings.I confirm that I have received a copy of the Agency Disclosure Notice as required by the New York Department of State.SIGNATURE ON THIS CONTRACT AUTHORIZES ATTORNEY TO PAY BROKERS COMMISSION WHEN EARNED.

SIGNATURE OF SELLER DATE_____________

SIGNATURE OF SELLER DATE

SIGNATUREOFAGENT - - DATE

SELLERS ATTORNEY

APPRAISAL IN A SUMMARY FORMATOF

616 RENSSELAER AVENUECITY OF OGDENSBIJF:G

ST. LAWRENCE COUNTY, NEW YORK

-

OWNERBOARD OF COOPERATIVE EDUCATIONAL SERVICES, ST. LAWRENCE-

LEWIS~

MADE FORST. LAWRENCE-LEWIS BOCES

P. 0. BOX 231139 STATE STREET ROAD

CANTON, NEW YORK 13617

ASOFMARCH 20, 2012

PREPARED BYMICHAEL L. VARLEY, MM

N.Y.S. CERTIFIED GENERALREAL ESTATE APPRAISERCERTIFICATION #46-15803

Varley Appraisal Group, Inc.Real Estate Appraisers and Consultants

March 28, 2012

Ms. Nicole AshleySt. Lawrence-Lewis BOCESP.O. Box 231139 State Street RoadCanton, New York 13617

Re: Appraisal in a Summary Format of the property at 616 Rensselaer Avenue,City of Ogdensburg, St. Lawrence County, New YorkOur File No. 12-024

Dear Ms. Ashley:

The following document represents an Appraisal in a summary format of the propertylocated at 616 Rensselaer Avenue, in the City of Ogdensburg, St. Lawrence County,New York.

In accordance with your request, I have personally inspected the property in order toestimate its Market Value. This valuation report contains a description of the property,an analysis of significant factors affecting the Market Value, computations utilized in thevaluation process, and a final estimate of Market Value. The report also incLudes anypertinent definitions, such as Market Value, Highest and Best Use, etc., and all of theunderlying assumptions and limiting conditions.

This report is intended to comply with the reporting requirements set forth underStandards Rule 2-2(b) of the Uniform Standards of Professional Appraisal Practice of aSummary Appraisal Report. In that regard, this report presents only summarydiscussions of the data, reasoning, and analysis that were used in the appraisalprocess. Supporting documentation concerning the data, reasoning, and analysis isretained in the Appraiser’s flies. The depth of the discussion contained in this report isspecific to the needs of the client, and for the intended use stated by that client. Thisappraisal has been prepared for the exclusive use of St. Lawrence-Lewis BOCES.Secondary users of the report include the auditors, directors and/or officials of thisorganization, and appropriate regulatory authorities. The report may not be distributedto, or relied upon by other persons or authorities without my written permission.

Varley Appraisal Group, Inc.

Ms. Nicole AshleyMarch 28, 2012Page 2

In accordance with prior agreement between St. Lawrence-Lewis BOCES and theAppraiser, the scope of this appraisal involved developing the most appropriatevaluation approach only. The sales comparison approach was developed and isbelieved to lead to development of a credible appraisal. Reasoning for exclusion of thecost approach and income approach is provided in the Appraisal Methodology.

The subject property consists of 1.33 ± acres of land situated on the southeast side ofRensselaer Avenue, in the City of Ogdensburg, St. Lawrence County, New York.

The building improvements consist of a 2-story steel frame and masonry former schoolbuilding containing a gross building area of 26,848 square feet including a full, finishedbasement level.

After an appropriate investigation and analysis of the data collected, it is my opinion thatthe subject’s Market Value, as of March 20, 2012 is:

THREE HUNDRED EIGHTY-FIVE THOUSAND DOLLARS($385,000)

Respectfully Submitted,

Michael L. Varley, MZIaNYS CertifiedGeneral Real Estate AppraiserCertification #46-15803

varley Appraisal Group, Inc.

NO BUYERS - There were no buyers liii (lie former Sherman Elementary School in Ogdensburg as bids railed to materialize by Tuesday’s 10 am.deadline. Ki well Photo -

NO 13L YERS - [here were no ho) ers 11w the rormer Sherman Elementary School in Ogdensburg as bids failed to materialize by Tuesday’s 10a.m.deadline. (Kidwcll Photo)

AA

C SHARE t I’There are no buyers for now for the Cornier Sherman Elementary School in Ogdensburg.

Bids for at least $250,000 For the 16.000-square-Foot building on Franklin Street failed to materialize by Tuesday’s 10a.m.

deadline.

“We had some people call, but that’s it,’ said Jeffrey R. Swanson, the Ogdensburg City School District’s business manager.

Mr. Swanson said the district’s board of education will likely discuss the matter when it next meets Aug. 5.

He predicts a new marketing strategy ~ itlh a bottom line twist.

“We’ll probably have to lower the minimum hid.” Mr. Swanson said.

Mr. Swanson said the building’s ultimate sale price will only be the beginning for the buyer no matter what the plans are,

residential or business.

“Whoever buys it will probably have to spend their own money to convert it,” he said, adding that grants may be scarce

School officials have surmised that the building could he used for residential apartments or commercial office space.

The school first opened in 1895 and was rebuilt following a fire in 1949 that gutted the building.

The school closed June30 as part of the district~s plan to consolidate elementary education and trim costs. Lincoln Elementaiy

School is slated to close next 3 ear.

To accommodate the approximately 700 students to be displaced from both schools, an expansion project is underway at John

F. Kennedy Elementaiy School on Park Street.