Crossland Federal Savings Bank v. Pekofsky

OPINION OF THE COURT

Kenneth W. Rudolph, J.

Motion by defendants Pekofsky to vacate appointment of receiver and cross motion of receiver to compel defendants Pekofsky to turn over funds are determined as follows.

Defendants Hilda Pekofsky, individually, and Hilda Pekofsky and Nathan A. Pekofsky, trustees, as mortgagors, executed and delivered a mortgage consolidation, modification and extension agreement dated July 18, 1988 to Crossland Federal Savings Bank, plaintiff mortgagee.

The mortgage instrument, securing a loan of $4,000,000 on premises designated as A & H Mall, 250 West Route 59, Nanuet,…