Schulman v. Silver

Petitioners are the holders of a second mortgage on premises 2460 Davidson avenue, Bronx, owned by respondent. The sum of $125,080 principal is now due on said mortgage. There is a first mortgage on the premises, the principal sum of which is $233,750. The first mortgage contains provision for amortization, but 4 appears that that mortgagee has waived amortization throughout the period involved.

Petitioners moved pursuant to section 1077-c of the Civil Practice Act to compel respondent to pay petitioners an alleged surplus of income over interest, taxes and carrying charges on the property in…