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GUPTA REALTY CORP. v. GROSS

251 A.D.2d 544 (1998)

674 N.Y.S.2d 741

Gupta Realty Corp., Appellant, v. Allen I. Gross et al., Respondents

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

June 22, 1998

Ordered that the order is affirmed, with one bill of costs to the respondents Ralph Herzka and Shimon Eckstein.

On December 1, 1987, the plaintiff Gupta Realty Corp. (hereinafter Gupta) sold several parcels of property to several general partnerships. The properties were purchased with mortgage notes secured by second mortgages, which all contained a provision that, in the event of a default, Gupta's sole remedy was to foreclose...

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