Opinion
March 16, 1987
Appeal from the Supreme Court, Westchester County (Donovan, J.).
Ordered that the judgment is affirmed insofar as appealed from, with costs.
We find that the appellant was not discharged from her obligations under a written guarantee of payment and that she is liable to the plaintiffs in the principal amount of $100,000 pursuant to the unambiguous terms of that guarantee.
We further hold that the appellant defaulted under her loan agreement with third-party defendant Chase when she pledged her shares in her cooperative apartment as further security for the foregoing guarantee. The loan agreement between the appellant and Chase unequivocally indicates that her actions in pledging the shares of the cooperative apartment as security for a conflicting interest constitute a default. Accordingly, Special Term committed no error in awarding judgment in favor of Chase and against her. Mangano, J.P., Brown, Niehoff and Eiber, JJ., concur.