On June 2, 1972 defendant Levy executed and delivered a $5,500 mortgage to plaintiffs on defendant's property in Monticello, New York, in consideration of plaintiffs' loan to defendant in the same amount. The entire sum, with 7½% interest, was to be repaid on June 1, 1973. Upon defendant's default, plaintiffs duly entered a default judgment on December 28, 1973. This application was made on October 29, 1974 and defendant instituted an action seeking identical relief...
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