PUGLIA ENTERS., INC. v. SUMMERLUN'S, INC.


186 A.D.2d 1066 (1992)

Puglia Enterprises, Inc., Respondent, v. Summerlun's, Inc., et al., Appellants. (Appeal No. 1.)

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

October 7, 1992


Order and judgment unanimously affirmed with costs.

Memorandum:

Plaintiff's predecessors leased the subject improved property from defendant Summerlun's, Inc. The lease includes a provision granting plaintiff an option to purchase the property for $130,000 "payable as follows: $40,000 upon exercising said option and the remaining balance of $90,000 to be amortized in equal monthly payments" over ten years. On March 27, 1990, plaintiff notified defendant that...

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