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BUILDERS, INC v. N RIVER INS

91 A.D.2d 360 (1983)

Builders Affiliates, Inc., Respondent, v. North River Insurance Co. et al., Respondents, City of New York, Department of Housing and Development, Appellant

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

February 3, 1983

Attorney(s) appearing for the Case

Dody Schorr of counsel (Leonard Koerner with her on the brief; Frederick A.O. Schwarz, Jr., Corporation Counsel, attorney), for appellant.

Andrew C. Jacobson of counsel (Weg, Myers & Jacobson, P. C., attorneys), for Builders Affiliates, Inc., respondent.

SANDLER, J. P., ROSS, FEIN and KASSAL, JJ., concur.

SULLIVAN, J.

At issue are a mortgagor's and mortgagee's competing claims to the insurance proceeds for damage to the mortgaged premises from fire.

On February 26, 1971 plaintiff, to secure advances to it by the City of New York for the rehabilitation of its building at 348-350 East 119th Street, New York City, executed a mortgage in favor of the city, consolidating two prior mortgages into one lien of...

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