One Benjamin Winkler entered into a sale-leaseback arrangement with the defendant, Dixie Associates (Dixie), which included Winkler's retaining a third purchase money mortgage in the amount of $444,000. Winkler gave a subordinate assignment of this mortgage to the plaintiff, Davidowitz, to the extent of $100,000. As part of the sale-leaseback arrangement, Dixie retained this third purchase money mortgage as security in the event of the default of the lessee, L.B.M. Enterprises...
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