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HEAVY FUNDING CORP. v. ALLCITY INS. CO.

234 A.D.2d 225 (1996)

651 N.Y.S.2d 515

Heavy Funding Corp., Appellant, v. Allcity Insurance Company, Respondent

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

December 31, 1996

Defendant Allcity Insurance Company issued a policy insuring Jesus Hernandez against direct physical loss or damage of the contents of the grocery store he operated as Jesus Grocery Store. Pursuant to the insurance policy's paragraph concerning "Mortgage Holders", the insurance company agreed that they

"b. * * * will pay for covered loss of or damage to buildings or structures to each mortgage holder shown in the Declarations in their order of precedence, as interests...

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