On April 28, 1970 plaintiffs became the assignees of a mortgage made and executed by defendant on February 11, 1960 to secure an indebtedness of $200,000. By agreement dated June 10, 1960 the terms of payment of the mortgage were permanently modified. By letter dated January 25, 1965 the terms of payment were again modified to provide for reduced payments for the calendar years 1965, 1966, 1967 and 1968. Defendant regularly made the payments provided for in the letter of...
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