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ROXBURY STATE BANK v. THE CLARENDON

129 N.J. Super. 358 (1974)

324 A.2d 24

ROXBURY STATE BANK, A BANKING CORPORATION OF NEW JERSEY, PLAINTIFF-RESPONDENT AND CROSS-APPELLANT, v. THE CLARENDON, ROBERT S. DOUGLAS, LEONARD A. CODELLA, THE TOWN OF HACKETTSTOWN, AND O. DAVID FISCHER, AS RECEIVER OF THE CLARENDON, DEFENDANTS-RESPONDENTS, AND WILLIAM PUTZ, EVELYN PUTZ, ERNEST PUTZ AND LOTTIE PUTZ, DEFENDANTS-APPELLANTS.

Superior Court of New Jersey, Appellate Division.

Decided July 8, 1974.

Attorney(s) appearing for the Case

Mr. Richard B. Thomas, Jr. argued the cause for defendants-appellants Putz (Messrs. Schenck, Price, Smith & King, attorneys).

Mr. Steven S. Radin argued the cause for plaintiff-respondent and cross-appellant Roxbury State Bank (Messrs. Sills, Beck, Cummis, Radin & Tischman, attorneys; Mr. Thomas J. Demski, on the brief).

Mr. Abraham Natovitz argued the cause for defendant-respondent O. David Fischer, receiver of The Clarendon.

Before Judges CONFORD, HANDLER and MEANOR.

The opinion of the court was delivered by CONFORD, P.J.A.D.

These are appeals by the foreclosing plaintiff bank and the holders of a second mortgage on real property and equipment of The Clarendon, a corporation engaged in the hotel and restaurant business in Hackettstown, and since September 1971 in statutory receivership, from a judgment of the Chancery Division in the mortgage foreclosure action. The judgment adjudicates the $160,000 first mortgage held by the...

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