New York Community Bank v. Fessler

On September 27, 2006, the defendant signed a “line of credit note” (hereinafter the note) in which he promised to pay the plaintiff, New York Community Bank, the principal sum of $2,500,000 in accordance with the terms of the note. In June 2008, the defendant defaulted on the note by failing to make the required monthly payment or any payments due thereafter. As of November 2008, the defendant’s unpaid principal debt under the note was $1,842,980.38. After the defendant did not *668respond to the plaintiffs demand letter, the plaintiff commenced the instant action by motion for summary judgment…