In re Iratom Co.

The petitioner seeks an order directing the partial cancellation of a mortgage as it applies to certain of the lots contained in a second mortgage. The petitioner asserts that there was a verbal contract modifying and implementing the note and mortgage securing the note, whereby the second mortgage would be cancelled as to any particular lot upon the payment by petitioner of moneys “for house package, pre-cut delivered to any of lots * * * or any materials that were paid for.” This, at best, is unclear.

*131In addition to other claims and defenses, the respondent denies any such verbal…