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IN RE HEMPSTEAD REALTY ASSOCIATES

No. 83 B 20365.

47 B.R. 998 (1985)

In re HEMPSTEAD REALTY ASSOCIATES, Debtor.

United States District Court, S.D. New York.

March 25, 1985.

Attorney(s) appearing for the Case

Leon C. Baker, New York City, for Hempstead Associates.

Bachner, Tally, Polevoy, Misher & Brinberg, New York City, for Massachusetts Mut. Life Ins. Co., Henry J. Bergman, New York City, of counsel.

MEMORANDUM DECISION

HOWARD SCHWARTZBERG, Bankruptcy Judge.

The debtor, Hempstead Realty Associates, has moved for leave to make a tender to its mortgagee, Massachusetts Mutual Life Insurance Company ("Mass Mutual"), of the principal amount of the matured mortgage together with interest at either of two rates to be selected by Mass Mutual. One option calls for the payment of interest at the 7½ percent per annum rate provided for in the mortgage. The...

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