Plaintiff holds a purchase money mortgage on a 74-unit garden apartment complex located in the City of Kingston, Ulster County. Paragraph 11 (a) of the rider to the contract of sale specifically provides that the "[m]ortgagor shall have the right to prepay any principal balance, in whole or in part, at any time or from time to time, without penalty". The mortgage, however, contains no similar provision.
Defendant, as the mortgagor...
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