Syracuse Savings Bank v. Onondaga Silk Co.

The plaintiff is the holder of two mortgages upon premises owned by the defendant. These mortgages, which were assumed by the defendant, became due, one in the year 1900, and the other in 1910. Interest and taxes on the property have been paid to date and under the moratorium statutes the mortgages cannot at present be foreclosed. In 1920 the premises consisted of a two-family residence, and were used as such. In 1923 the defendant, while using the lower floor as an office, erected upon that floor a steel and concrete vault for the storage of silk, and in 1927 a second vault was built in the…