The mortgagee is entitled to enforce an acceleration clause in his contract in the absence of waiver, estoppel, bad faith, fraud, or oppressive or unconscionable conduct (Graf v Hope Bldg. Corp., 254 N.Y. 1; Ferlazzo v Riley, 278 N.Y. 289). Defendants do not urge that plaintiff is guilty of bad faith, fraud or oppressive or unconscionable conduct. They do rely on waiver or estoppel. However, this record "`does not demonstrate knowledgeable acceptance of late...
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