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CENTURY FED. SAV. & LOAN ASSN. v. VAN GLAHN

144 N.J. Super. 48 (1976)

364 A.2d 558

CENTURY FEDERAL SAVINGS AND LOAN ASSOCIATION OF BRIDGETON, A SAVINGS AND LOAN ASSOCIATION ORGANIZED AND EXISTING UNDER THE LAWS OF THE UNITED STATES OF AMERICA, PLAINTIFF, v. EDWARD W. VAN GLAHN AND ANNA E. VAN GLAHN, HUSBAND AND WIFE; WAYNE E. JOHNSON, JR. AND JOAN JOHNSON, HUSBAND AND WIFE; FLORENCE ROBERTS, A WIDOW; AND THE UNITED STATES OF AMERICA, DEFENDANTS.

Superior Court of New Jersey, Chancery Division.

Decided June 15, 1976.

Attorney(s) appearing for the Case

Mr. Michael Brooke Fisher for plaintiff (Messrs. Lummis, Kleiner, Moore, Fisher, Pancari & Pagliughi, attorneys).

Mr. William F. Reilly, Jr. for defendants Edward and Anna VanGlahn (Messrs. Waltman & Reilly, attorneys).

Mr. Darrell Fineman for defendants Wayne and Joan Johnson, and Florence Roberts (Messrs. Kavesh, Basile & Fineman, attorneys).

GRUCCIO, J.S.C.

On December 11, 1972 defendants Edward and Anna Van Glahn executed a mortgage and promissory note to plaintiff Century Federal Savings and Loan Association of Bridgeton (Century). The mortgage and note provided, among other things, that "(i)f there be any change in ownership of the mortgaged premises, except by operation of will or intestacy laws, the principal and interest secured by this mortgage shall, at the option of the Mortgagee, become due...

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