Greenwich Savings Bank v. Eckford Realty Corp.

The appellant was the owner of the fee of the premises covered by the mortgage herein amounting to $12,000. The rate of interest of the mortgage was 5y2% payable semiannually. The mortgage after being extended became due on May 4,1930. Before the due date as extended, the appellant sold the property and became a surety for the performance of the obligations under the mortgage by the new owner.

The pleadings, the testimony and the decision establish 1‘ That subsequent to the maturity of said mortgage and the assignment thereof to plaintiff and said agreement of extension dated May 4,1925, it…