HOME & CITY SAV. BANK v. JAMEL REALTY CORP.


186 A.D.2d 936 (1992)

Home & City Savings Bank, Respondent, v. Jamel Realty Corporation et al., Appellants

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

October 29, 1992


Harvey, J.

In December 1987, defendant Jamel Realty Corporation (hereinafter Jamel) purchased land in the Town of Greenport, Columbia County, with the intention of building an apartment complex there. The project was to be built in phases and was named the "Meadowbrook Project". Thereafter, in July 1988 and November 1988, Jamel executed two mortgages securing loans from plaintiff which financed phase I of the...

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