Norstar Bank v. Ortem Knab Corp.

Judgment unanimously reversed on the law without costs and matter remitted to Supreme Court for further proceedings in accordance with the following Memorandum: Defendants appeal from an order granting plaintiff’s cross motion for summary judgment on its cause of action for foreclosure of two mortgages. Plaintiff was lessee and defendants Ginter and Englert were lessors under certain ground and improvement leases on land and a building used by plaintiff as a branch office. Plaintiff was the mortgagee of both the land and the building. Additionally, plaintiff was the holder of security…