Emigrant Industrial Savings Bank v. Fleetwood Terrace, Inc.

In an action to foreclose a mortgage on real property, the complaint excepted from the description of the mortgaged property a portion thereof affected by a condemnation proceeding by the city of Mount Vernon for a street widening. The action proceeded to judgment and sale and plaintiff bid in the property and took and recorded the referee’s deed. Before the foreclosure action reached the stage of judgment, and on or about July 29, 1935, the commissioners in condemnation filed their report awarding $29,460 for the property taken. ■ Thereafter, it obtained two ex parte orders which in effect…