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LINCOLN FED'L S. & L. ASS'N v. PLATT HOMES, INC.

185 N.J. Super. 457 (1982)

449 A.2d 553

LINCOLN FEDERAL S. & L. ASSOC., A CORPORATION OF THE UNITED STATES OF AMERICA, PLAINTIFF, v. PLATT HOMES, INC., ET AL., DEFENDANTS.

Superior Court of New Jersey, Chancery Division Hunterdon County.

Decided June 17, 1982.

Attorney(s) appearing for the Case

James Flynn for plaintiff (Snevily, Ely & Williams, attorneys).

John Phillips for defendants Robert D. Hedges and Irene Hedges (Buttermore, Mullen, Jeremiah & Phillips, attorneys).

DREIER, J.S.C.

This case, which comes before the court on cross-motions for summary judgment, presents a single, clearly defined issue: Does the lien for an optional second advance of funds under a previously recorded construction mortgage take priority over the lien of an intervening encumbrance which was recorded but of which the construction lender had no actual notice? This court answers the question in the negative...

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