KERHONKSON NAT'L BANK v. GRANITE SUNSHINE HOTEL, INC.


26 A.D.2d 713 (1966)

Kerhonkson National Bank, Respondent, v. Granite Sunshine Hotel, Inc. et al., Defendants, and Miriam Levinson et al., Appellants

Appellate Division of the Supreme Court of the State of New York, Third Department.

July 1, 1966


GIBSON, P. J.

The so-called consolidated mortgage given to plaintiff October 22, 1959 for $35,000 was secured by a first lien which was that of the initial, open-end mortgage given February 16, 1959 for $30,000, and to secure optional "future advances or readvancements" not to exceed said $30,000 face amount, upon which $3,000 was paid on August 18, 1959, and by a third lien created by said consolidated mortgage of October 22, 1959 which secured an advance...

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