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TRIWAY REALTY CORP. v. CITY OF NEW YORK

218 A.D.2d 592 (1995)

___ N.Y.S.2d ___

Triway Realty Corp., Respondent, v. City of New York, Appellant

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

August 24, 1995

Plaintiff is the mortgagee of the two parcels of realty in question and holds a mortgage of $234,000. On July 24, 1987 the owner of the subject properties, Triangle Associates, entered into written in rem agreements with defendant City of New York, pursuant to which it would pay delinquent taxes and assessments in quarterly installments. In exchange the City agreed to discontinue foreclosure proceedings with respect to the...

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