Ginsburg v. Kingston Savings Bank

On this motion and cross motion for summary judgment, the question presented involves the construction and application of section 1077-cc of the Civil Practice Act, which, so far as material, provides that the rate of interest upon any bond, extension agreement, or other evidence of indebtedness, shall not be increased “ by reason of the maturity of such obligation ” during the emergency period, but shall continue after such maturity at the rate specified in the obligation until the expiration thereof.

In December, 1925, the mortgage herein was executed. Thereafter, various extension…