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SHADOW LAWN SAV. AND LOAN ASS'N v. PALMAROZZA

190 N.J. Super. 314 (1983)

463 A.2d 384

SHADOW LAWN SAVINGS AND LOAN ASSOCIATION, A SAVINGS AND LOAN ASSOCIATION ORGANIZED AND EXISTING UNDER THE LAWS OF THE STATE OF NEW JERSEY, PLAINTIFF-RESPONDENT, v. ANDREW J. PALMAROZZA & JOAN PALMAROZZA, H/W, DEFENDANTS, AND C.B. ASSOCIATES, A LIMITED PARTNERSHIP, DEFENDANT-APPELLANT.

Superior Court of New Jersey, Appellate Division.

Decided June 27, 1983.

Attorney(s) appearing for the Case

Francis X. Crahay argued the cause for appellant (Giordano, Halleran & Crahay, attorneys; Thomas A. Pliskin, on the brief).

Edward C. Stokes, II, argued the cause for respondent Shadow Lawn Savings & Loan Association (Stokes & Throckmorton, attorneys; Edward C. Stokes, II, on the brief).

Before Judges BOTTER and BRODY.

The opinion of the court was delivered by BOTTER, P.J.A.D.

The issues presented to us concern rights asserted by appellant, C.B. Associates ("C.B."), the holder of a mortgage subordinate1 to the first mortgage held by Shadow Lawn Savings & Loan Association ("Shadow Lawn") on property owned by Mr. and Mrs. Palmarozza. The property consisted of a 192-unit garden apartment complex plus an 82-slip marina in Monmouth Beach, New Jersey....

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