Warranty B. L. Assn. v. Cimirro Const. Co.

The bill is to foreclose two concurrent lien mortgages of $55,000 each, on an apartment house; one a building and loan mortgage, the other, of the common type. Samuel Litwin, the holder of a $21,000 second mortgage, counter-claims that he paid the municipal taxes on the mortgaged premises for the years 1929 to 1930 and prays a prior lien by way of subrogation.

The mortgage of the complainant and the mortgage of Litwin were made by the Cimirro Construction Company in December, 1928, under these circumstances: Before 1928, the complainant held a mortgage for a large amount, and Litwin a second…