Droge v. National Tower Corp.

This is a cross-motion made by plaintiff for summary judgment under rule 113 of the Rules of Civil Practice.

The action is based on interest coupons originally attached to several bonds, part of a series issued to a group of bondholders as collateral for the payment of which a trust mortgage covering real property in the city of New York was executed in favor of and delivered to a trustee for the benefit of the several bondholders.

The main defense relied on by defendant, and the only one to be discussed herein, is that the plaintiff consented in writing to a modification of said trust mortgage…