Brainard v. Brothers Excavating, Inc.

Appeal from so much of an order of the Supreme Court at Special Term, entered November 9, 1979 in Greene County, as granted defendants’ motion pursuant to CPLR 3211 to dismiss Paragraph No. 7 of the complaint for failure to state a cause of action. Plaintiff loaned defendant Brothers Excavating, Inc., $65,000 secured by a bond and mortgage. As *997additional security, Brothers Excavating, Inc., executed a security agreement covering certain construction equipment. Pursuant to Paragraph No. 4 of the bond and mortgage, plaintiff had the right to declare the whole of the principal sum and interest…