Kane, J.
In connection with a contract for plaintiffs to purchase a residence constructed by defendants, the parties executed a note and purchase money mortgage for $130,000 payable at 7% interest per annum over a 10-year term. The note contained an acceleration clause providing that the whole sum would become due and payable at defendants' option if any installment was not paid within 30 days of its due date. In April 2000, plaintiffs commenced this lawsuit. Defendants...
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