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CITY OF NY v. 166 ASSOC.

111 Misc.2d 41 (1981)

City of New York, Plaintiff, v. East 166th Street Associates et al., Defendants.

Supreme Court, Special Term, Bronx County.

August 31, 1981

Attorney(s) appearing for the Case

Allen G. Schwartz, Corporation Counsel, for plaintiff. Leonard M. Simon, P. C., for defendants.

JOSEPH DI FEDE, J.

Motion by plaintiff to strike the answer of defendants and for summary judgment is granted.

The present action is to foreclose a consolidated mortgage made to secure a loan for the rehabilitation of an apartment house. The loan in question was made pursuant to article 8 of the Private Housing Finance Law, under which defendants received the benefit of a below market interest rate plus various tax benefits. As of November, 1979...

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