Stowe Center, Inc. v. Burlington Savings Bank

In 1973 plaintiff executed a mortgage to the defendant on land and premises known as Stowe Center. The mortgage secured various loans made by the defendant to the plaintiff and were evidenced by certain executed notes. In 1977, the defendant brought foreclosure proceedings because the plaintiff was in default. In February 1978, after extensive negotiations, the parties entered into an oral stipulation. This stipulation was placed on the record after questioning by the presiding judge as to whether the parties understood and consented thereto. Pursuant to the stipulation a consolidated…