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MELTZER v. OLD FURNACE DEV.

44 Misc.2d 552 (1964)

Abraham Meltzer, Plaintiff, v. Old Furnace Development Corporation et al., Defendants.

Supreme Court, Orange County.

December 2, 1964

Attorney(s) appearing for the Case

Milton B. Shapiro for plaintiff. Wolf, Haldenstein, Adler, Freeman & Herz for Herbert Kreppel and others, defendants. Miller & Kaplan for Louis Fishman, defendant. Hays, St. John, Abramson & Heilborn for Benjamin Bayers, defendant. Fink, Weinberger & Levin for M. C. J. Homes Corporation and others, defendants.

CLARE J. HOYT, J.

On May 31, 1960 defendant M. C. J. Homes Corporation executed and delivered its bond or obligation and mortgage in the amount of $100,000 covering property in the Town of Tuxedo, Orange County, New York, to plaintiff. This mortgage bore interest at 6% per annum, with $10,000 payable on the principal on April 14, 1961 with the balance of principal payable on April 14, 1962.

This mortgage contained a provision that upon the failure...

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