Opinion
November 29, 1948.
Present — Nolan, P.J., Carswell, Johnston, Adel and Sneed, JJ.
Action to foreclose a mortgage on certain real property in Queens County as a consequence of a default in the payment of an installment of principal. Judgment for the plaintiffs unanimously affirmed, with costs. The acceleration clause in the mortgage is not in the statutory form or similar thereto. The parties have agreed upon an expression of intention that limits the period of grace to a default in the payment of interest, and accords no period of grace to a default in the payment of an installment of principal when due. ( Graf v. Hope Bldg. Corp., 254 N.Y. 1; Albertina Realty Co. v. Rosbro Realty Corp., 258 N.Y. 472, 475, 477.)