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WALL ST. CO. v. FRANKLIN NAT. BANK

38 A.D.2d 460 (1972)

67 Wall Street Company, Appellant, v. Franklin National Bank, Respondent

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

April 18, 1972.

Attorney(s) appearing for the Case

Martin Kleinbard of counsel (Cameron Clark with him on the brief; Paul, Weiss, Rifkind, Wharton & Garrison, attorneys), for appellant.

Benjamin Heller of counsel (Hein, Waters, Klein & Zurkow, attorneys), for respondent.

STEVENS, P. J., MARKEWICH, STEUER and CAPOZZOLI, JJ., concur.

McGIVERN, J.

In August of 1969, the plaintiff, 67 Wall Street Company, and the defendant, Franklin National Bank, began negotiations for a lease of five floors and some ground floor space at 67 Wall Street. At an annual rental of $567,000, the term was to end in 1985, representing an involvement of about $9,000,000. The lease, now in litigation, was executed on October 20, 1969. At the time, the leasehold was occupied by the International

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