Farmers' Production Credit Ass'n of Olean v. Feinen Bros.

Order unanimously reversed on the law without costs, and matter remitted to Supreme Court, Chautauqua *956County (Adams, J.), for further proceedings, in accordance with the following memorandum: The individual defendants executed a promissory note in the amount of $52,849.01, but promised to pay all debts or obligations "now or hereafter existing”. The note recited that it was given for $52,849.01 "and for future advances and indebtedness which may be made or arise from time to time” and that "[a]dvances, interest and other charges, and repayment shall be posted to an accounting record of the…