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FIRST NAT'L BANK OF GLENS FALLS v. CAPUTO

124 A.D.2d 417 (1986)

First National Bank of Glens Falls, Appellant, v. Carmela M. Caputo et al., Defendants, and Fort Edward Bowl, Inc., Respondent

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

October 30, 1986

Levine, J.

In September 1983, plaintiff loaned defendant Fort Edward Bowl, Inc. (Fort Edward) $450,000 to be applied toward the cost of renovation of property in Washington County that Fort Edward was to lease from defendants Carmela and Elsie Caputo. The purpose of the renovation was to convert the property into a bowling alley. Fort Edward issued to plaintiff a promissory note in the amount of the loan. As additional security for the loan, the Caputos...

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