In re Lafayette National Bank

In a proceeding by the assignee of a mortgage for payment of a condemnation award on property originally subject to a first mortgage held by the applicant bank, it appeared that the mortgage was given by one Gewertz for $3,500 in 1923. A second mortgage, given by an undisclosed owner at a date not named, was held by one Edelstein. Barnet Seidler became the owner of the property before the condemnation proceedings were commenced on August 1, 1929, subject to the two mortgages. On December 30, 1929, Seidler gave a third mortgage to one Berlofsky for $800, and, as further security, assigned to…