The Aztech Recognition Agreement (Cx8091) is the most popular recognition agreement used for loans secured by shares and a proprietary lease of a unit in a cooperative project located in New York. Many investors require this agreement to be used (or require an agreement which is as favorable to a lender as the Aztech Agreement).
This Agreement is also somewhat dated (having been created in circa 1973) and this is reflected in its salutation of “Gentlemen:”. Despite this salutation being anachronistic, we have left it in place, because of the copyright Aztech Document Systems, Inc. had on this document.
After researching the copy protection rights associated with this document, we have decided to change the salutation from “Gentlemen:” to the gender-neutral greeting of “To Whom It May Concern:”. We will also be adding the phrase “Modified by Docutech” in the footer, to raise awareness that this document has been modified from the original.
These changes will take effect on July 25, 2020. Questions or concerns about these changes should be directed to Client Support at 1.800.497.3584.
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