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NORTH FORK BANK & TRUST COMPANY v. NATIONWIDE ASSOCIATES, INC.

262 A.D.2d 380 (1999)

691 N.Y.S.2d 177

NORTH FORK BANK & TRUST COMPANY, Respondent, v. NATIONWIDE ASSOCIATES, INC., Appellant.

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

Decided June 7, 1999.

Ordered that the judgment is reversed, on the law, with costs, and the complaint is dismissed.

On or about September 15, 1986, Twilight Building Corp. (hereinafter Twilight) gave the plaintiff a mortgage covering 53 building lots to secure the repayment of a loan. The mortgage provided that individual lots could be released from the mortgage upon the payment of $40,000 per lot. On or about October 30, 1987, Twilight gave the defendant a second mortgage on 6 of the...

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