M&M DEV. v. MONTICELLO JV


190 A.D.2d 392 (1993)

M & M Development, Inc., et al., Plaintiffs, v. LS Monticello JV, Inc., et al., Defendants. (Action No. 1.) Paul Roth et al., as Trustees, Appellants, v. Ryland Group, Inc., Respondent, et al., Defendants. (Action No. 2.)

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

June 10, 1993


Attorney(s) appearing for the Case

Gilmartin, Poster & Shafto, New York City (Michael C. Lambert, Harold S. Poster and William K. Sheehy of counsel), for appellants.

Patricia C. Delaney, Commack, for respondent.

WEISS, P. J., MIKOLL, LEVINE and MAHONEY, JJ., concur.


MERCURE, J.

Defendant LS Monticello JV, Inc. (hereinafter LS) mortgaged two vacant parcels of real property in the Village of Monticello, Sullivan County, to plaintiffs Paul Roth and Michael Wynston (hereinafter plaintiffs) to secure indebtedness totaling $1 million. The mortgages, consolidated by an instrument recorded on February 6, 1989, secured the mortgaged premises and after-acquired improvements. On March...

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