The parties each claim a first lien on real property located at 507 Saratoga Road in the Town of Glenville, Schenectady County, defendant as assignee of a mortgage recorded in the Schenectady County Clerk's office on April 27, 1973 (hereinafter referred to as defendant's mortgage) and plaintiff by virtue of a mortgage in its favor that was recorded on April 12, 1991 (hereinafter referred to as plaintiff's mortgage). It is undisputed that,...
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