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GRATTON v. DIDO REALTY

89 Misc.2d 401 (1977)

Joseph S. Gratton, as Treasurer of First Mortgage Investors, Plaintiff, v. Dido Realty Co., Inc., et al., Defendants.

Supreme Court, Trial Term, Queens County.

February 15, 1977

Attorney(s) appearing for the Case

Victor Gartenstein for Dido Realty Co., Inc., and others, defendants. Deutsch & Spring for New York Artcrafts, Inc., defendant. Semel, Patrusky & Buchsbaum for Kennedy Electrical Supply Corp., defendant. Louis J. Lefkowitz, Attorney-General, for State of New York, defendant. Frank, Frank & Berger for General Electric Company, defendant. Sacks, Bernstein & Greenspan for Burke Sprinkler Contracting Corp., defendant. W. Bernard Richland, Corporation Counsel, for City of New York, defendant. Keane & Butler for plaintiff.

SIDNEY LEVISS, J.

This is an action to foreclose a mortgage on real property and to enforce a security agreement and personal guarantees.

On December 20, 1973 defendant Dido Realty, to secure a building loan, executed and delivered to plaintiff First Mortgage Investors its note for $1,250,000, payable monthly for 18 months, with interest at the rate of 4.25% above the New York prime rate. As collateral...

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