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GASPARRE v. 88-36 ELMHURST

119 Misc.2d 628 (1983)

Pasquale Gasparre et al., Plaintiffs, v. 88-36 Elmhurst Ave. Realty Corp. et al., Defendants.

Supreme Court, Trial Term, Queens County.

June 9, 1983

Attorney(s) appearing for the Case

Bernard Paige for plaintiffs. Ferrari, Rosenthal & McGann (Vincent J. Ferrari of counsel), for defendants.

ALFRED D. LERNER, J.

This case was submitted for decision on an agreed statement of facts and is one of first impression.

The defendant mortgagor, 88-36 Elmhurst Avenue Realty Corp., the record owner of said premises, executed a mortgage to the plaintiff mortgagees on December 12, 1978. A provision of the mortgage stipulated: "This mortgage shall become due upon the sale of the aforesaid property" (referred to herein as a due on sale clause)....

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