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WARTUX ASSOCS. v. KINGS COLL.

161 Misc.2d 733 (1994)

616 N.Y.S.2d 417

Wartux Associates, Plaintiff, v. Kings College et al., Defendants.

Supreme Court, Westchester County.

June 28, 1994

Attorney(s) appearing for the Case

Whitman, Breed, Abbott & Morgan, New York City (Jonathan S. Sanoff of counsel), for Kings College, defendant. Ross & Hardies, New York City (Philip Goldstein of counsel), for Servicemaster Company Limited Partnership, defendant. Cerrato, Sweeney, Cohn, Stahl & Vaccaro, White Plains (Carl Stahl of counsel), for Tara Circle, Inc., defendant. Moses & Singert, New York City (Joel D. Sharrow of counsel), for Bankers Trust Company, defendant. Serchak & Zelermyer, White Plains (Benjamin Zelermyer of counsel), for plaintiff.

JOAN B. LEFKOWITZ, J.

In July 1991 the plaintiff and defendant the Kings College (hereafter the College) negotiated an agreement whereby the College was to purchase and plaintiff to sell real property located in the Town of Warwick, Orange County, for approximately $12,000,000. The property was encumbered by two mortgages: a first lien in favor of Bankers Trust Company (Bankers Trust) in the sum of $11,000...

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