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BRAINARD v. BROS. EXCAVATING, INC.

76 A.D.2d 996 (1980)

Sidney Brainard, Appellant, v. Brothers Excavating, Inc., et al., Respondents

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

June 19, 1980

Plaintiff loaned defendant Brothers Excavating, Inc., $65,000 secured by a bond and mortgage. As additional security, Brothers Excavating, Inc., executed a security agreement covering certain construction equipment. Pursuant to Paragraph No. 4 of the bond and mortgage, plaintiff had the right to declare the whole of the principal sum and interest due upon default, and following a default on December 1, 1978, plaintiff demanded possession...

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