The subject matter of this foreclosure action is a 65-acre parcel in Ulster County, and in June of 1970 defendants Robin Karpe and Kenneth Karpe borrowed $25,400 from one Rosamond Hoffstatter with the loan secured by a bond and first mortgage on the subject property. The following September the Karpes borrowed $20,000 from appellant Gwendolyn Kirsner, and this loan was secured by a second mortgage on the Ulster County parcel. When the Karpes thereafter failed to meet their...
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