GEARY v. DADE DEV. CORP.


29 N.Y.2d 457 (1972)

William H. Geary et al., Respondents, v. Dade Development Corp., Appellant, et al., Defendants.

Court of Appeals of the State of New York.

Decided February 9, 1972.


Attorney(s) appearing for the Case

F. Walter Bliss and Richard C. Johnson for appellant.

Leslie F. Couch for respondents.

Chief Judge FULD and Judges BURKE, SCILEPPI, BREITEL, JASEN and GIBSON concur.


BERGAN, J.

The mortgage which is the subject of this foreclosure action was given to secure performance of an agreement of purchase and sale of land subdivided into parcels between the predecessors of plaintiffs and defendant.

The agreement contained the following provision as to payment: "Upon the sale or encumbrance of any part or parts, lot or lots, of the premises described in Schedule A, Purchaser...

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