On September 3, 1981, the City of New York took title by condemnation of certain real property in Queens previously owned by claimant. At the time of the taking, the property was subject to a mortgage owned by the New York State Employees Retirement System which secured payment of a note in the original amount of $1,000,000. The maturity date of the note was December 30, 1980. According to the terms of the note, the obligor was required to pay interest at the rate of 5 1...
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