GRATTON v. DIDO REALTY CO., INC.


63 A.D.2d 959 (1978)

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

Appellate Division of the Supreme Court of the State of New York, Second Department.

June 5, 1978


Judgments affirmed, with one bill of costs.

The conceded existence of cost overruns amounting to approximately $139,000 is relevant on the issue of the mortgagor's conduct. Under these circumstances, it was not oppressive or unconscionable for the mortgagee to refuse to fund another advance until the builder paid the interest due and furnished lien waivers by the contractors. Both calculations of the effective rate of interest...

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