On June 28, 1984, defendants executed a promissory note in plaintiff's favor securing a loan of $115,000, with interest "at the New York Prime Rate as of June 27, 1984", payable within 90 days of written demand. As collateral, plaintiff retained a lien against a standardbred race horse known as "Shane T. Hanover", partially owned by defendants. On August 21, 1984, plaintiff issued a written demand for payment. Thereafter, by agreement dated...
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