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FIRST NAT'L BANK OF AMENIA v. MOUNTAIN FOOD ENTERS., INC.

159 A.D.2d 900 (1990)

First National Bank of Amenia, Appellant-Respondent, v. Mountain Food Enterprises, Inc., et al., Respondents, and Frank Papandrea et al., Respondents-Appellants

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

March 29, 1990

Yesawich, Jr., J.

Plaintiff, a national bank, loaned defendants Frank Papandrea, Maria Papandrea and Mountain Food Enterprises, Inc. (hereinafter MFE), of which Frank Papandrea is the sole shareholder, $150,000 with a total annual interest percentage rate of 17.23%. The note evidencing the loan was secured by a mortgage on three of the Papandreas' properties. The Papandreas made only two of the scheduled payments, and thereafter, on July 27, 1987, they...

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