Dimeo v. Ellenstein

Three of the defendants gave a purchase-money mortgage to the complainants for $13,000, payable in three years, on May 27th, 1929, covering a twenty-five acre tract which had been subdivided into building lots. The mortgage contained a covenant as follows:

"On May 27th, 1929, or at any time previous to the date thereof, at the option of the mortgagors, separate releases on any portion of this property may be presented at the office of Gerald A. Caruso, Harrison, New Jersey, or to such other attorney as shall be designated by the mortgagees, and the mortgagees covenant to satisfy by properly…