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MARINE MIDLAND NAT'L BANK OF SOUTHEASTERN NEW YORK v. ROOSA CONSTR. ASSOCS., INC.

28 A.D.2d 1187 (1967)

Marine Midland National Bank of Southeastern New York et al., Plaintiffs, v. Roosa Construction Associates, Inc. et al., Appellants, and Peter Paul, Respondent, et al., Defendants

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

November 22, 1967

AULISI, J.

On August 15, 1964 plaintiffs held a first mortgage on the real and personal property of P.B.S. Swan Lake Resorts, Inc., defendant corporation, hereinafter P.B.S. The defendants-appellants were the holders of junior mortgages on the same property. On said date, the corporation failed to make a payment of principal and interest totaling $12,876. After a demand for payment was made by the plaintiffs, P.B.S., which was then insolvent and had filed...

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