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HAMMELBURGER v. FOURSOME INN

76 A.D.2d 646 (1980)

Ludwig Hammelburger et al., Respondents, v. Foursome Inn Corp., Appellant, et al., Defendants

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

August 25, 1980

Attorney(s) appearing for the Case

Vincent A. G. O'Connor for appellant.

Harold Sussman for respondents.

HOPKINS, J. P., LAZER, GIBBONS and GULOTTA, JJ., concur.

WEINSTEIN, J.

On August 30, 1974 the Foursome Inn Corporation, as mortgagor, executed a mortgage with Broadhollow Funding Corp. (BFC) in the principal sum of $35,000. The mortgage was for a three-year term, and carried a per annum interest rate of 24%. Foursome received only $32,900 of the principal sum; the remaining $2,100 was retained as a "commission" by an officer of BFC.

On October 1, 1975, Beatrice...

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