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Sullivan Cty. Natl. Bk. v. President Hotel

Appellate Division of the Supreme Court of New York, Third Department
May 22, 1967
28 A.D.2d 618 (N.Y. App. Div. 1967)

Opinion

May 22, 1967


Appeal from an order of the Supreme Court at Special Term, Sullivan County, which granted plaintiff's motion for summary judgment in its action for foreclosure of a mortgage, and from the judgment entered thereon. The defendant, President Hotel, Inc., executed a mortgage in the amount of $75,000 on July 13, 1963, although $50,000 was the only sum ever advanced. It is conceded that the real property taxes on the mortgaged premises were not paid when they became due on January 1, 1965 and January 1, 1966. This failure constituted a breach of a condition of the mortgage and plaintiff exercised its right to accelerate and declared the entire balance presently due and owing. Appellants contend that plaintiff had agreed to make an additional advance under the mortgage of up to $25,000 at any time; that plaintiff was requested to make such advance in order to pay the delinquent taxes, but refused to do so; and that plaintiff because of its conduct should therefore be precluded from foreclosing. Plaintiff denies an obligation to make such further advances at some indefinite future time, but shows that in any event it had offered an additional advance in the amount of $30,500 which was not consummated through no fault of the plaintiff. Even if appellants' contended construction of the agreement is correct, the tender of the $30,500 by plaintiff prior to instituting its foreclosure action was more than the alleged deficiency and would have been sufficient to pay the taxes and discharge any other delinquency under the mortgage. Since the record reveals no triable issue of fact, Special Term was correct in granting summary judgment. Order and judgment affirmed, with costs. Gibson, P.J., Herlihy, Aulisi, Staley, Jr., and Gabrielli, JJ., concur in memorandum by Aulisi, J.


Summaries of

Sullivan Cty. Natl. Bk. v. President Hotel

Appellate Division of the Supreme Court of New York, Third Department
May 22, 1967
28 A.D.2d 618 (N.Y. App. Div. 1967)
Case details for

Sullivan Cty. Natl. Bk. v. President Hotel

Case Details

Full title:SULLIVAN COUNTY NATIONAL BANK OF LIBERTY, Respondent, v. PRESIDENT HOTEL…

Court:Appellate Division of the Supreme Court of New York, Third Department

Date published: May 22, 1967

Citations

28 A.D.2d 618 (N.Y. App. Div. 1967)