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MTGE AFFILIATES v. JERDER RLTY.

62 A.D.2d 591 (1978)

Mortgagee Affiliates Corp. et al., Respondents, v. Jerder Realty Services, Inc. et al., Defendants, and Murray Marcovitz et al., Appellants

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

June 12, 1978

Attorney(s) appearing for the Case

Julius Zizmor for Murray Marcovitz, appellant.

Gutman & Gutman (S. Mac Gutman of counsel), for Louis Durante, appellant.

Shea Gould Climenko & Casey (Martin I. Shelton and John B. Grant, Jr., of counsel), for respondents.

SUOZZI and GULOTTA, JJ., concur with DAMIANI, J. P.; O'CONNOR, J., concurs in part and dissents in part, with an opinion.

DAMIANI, J. P.

The defendants Marcovitz and Durante are guarantors of a mortgage given by defendant Jerder Realty Services, Inc. to plaintiff Mortgagee Affiliates Corp. Jerder Realty defaulted and plaintiffs commenced a foreclosure action against it and the guarantors. Judgment of foreclosure was granted in favor of the plaintiffs and, at the sale held on March 3, 1977, the property was sold for less than the...

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