On February 7, 1985, defendants, in connection with a $75,000 loan from Intercounty Mortgagee Corporation, executed an adjustable-rate promissory note secured by a mortgage on certain realty they owned in Belle Harbor, New York. The note was payable in monthly payments and was to be paid in full by March 1, 2015. The mortgage and note were later assigned for value to Roosevelt Savings Bank. Defendants defaulted on their obligations under the loan and this action was commenced...
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