In May, 1972, plaintiff made a mortgage loan on premises 601 West 26th Street, New York City, to 601 West 26 Corp., of which defendant Jacob Freidus was sole stockholder. The loan was evidenced by a series of 200 promissory notes executed by the corporation. Said notes were payable weekly in successive, decreasing amounts. Each amount was comprised of principal in the sum of $1,000 plus interest at the rate of 14% per annum calculated on the progressively declining unpaid...
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