The present action is one to foreclose a mortgage in the sum of $20,000 given by defendants to the New Paltz Savings Bank and assigned to plaintiff. The mortgage provides for monthly installment payments of principal and interest in the sum of $179.77, together with an escrow payment to the bank to cover taxes, bringing the total monthly payment to $230. The mortgage contains an acceleration clause whereby in the event any part of a monthly payment is in default for 30 days...
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