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Funeral arrangements have been finalized for Peter F. Karches, the former New York Racing Association co-chairman who died Thursday night after a lengthy bout with leukemia. Viewing will be Monday from 2-5 and 7-10 p.m. at Beney Funeral Home, Syosset, N.Y. A funeral Mass will be held Tuesday at 10 a.m. at St. Dominic Church in Oyster Bay, N.Y. The family has requested no flowers. . . . Jockey Dean Sarvis was thought to have suffered a broken collarbone after being thrown by a first-time starter at River Downs on Saturday. Sarvis had a clear lead in deep stretch of the second race when his mount, Two Timin Cat, swerved in near the rail and then out to the center of the track, unseating Sarvis, who was taken to Mercy Hospital in Anderson, Ohio, to be examined.