Meritas Realty Co. v. Farley

This is an action to foreclose a mortgage covering seven lots at Westbury, L. I., each lot being about 20 by 100 feet in area. The plot was sold by the plaintiff to the defendant Edson J. Farley in *322October, 1910, for $640 a lot or $4,480 in the aggregate, of which one-fonrth, or the sum of $1,120, was paid in cash at or. before the delivery of the deed; and the balance, amounting to $3,360, was secured by the vendee’s bond and purchase money mortgage due in two years with interest at six per centum payable half yearly.' The action is defended by Edson J. Farley, a defendant, on- the ground…