Home & City Savings Bank v. Jamel Realty Corp.
Appellate Division of the Supreme Court of the State of New York
1Opinion of the CourtHarvey, J.
Appeal from an order of the Supreme Court (Cobb, J.), entered September 18, 1991 in Columbia County, which granted plaintiffs motion for summary judgment dismissing nine of defendants’ counterclaims.
In December 1987, defendant Jamel Realty Corporation (hereinafter Jamel) purchased land in the Town of Greenport, Columbia County, with the intention of building an apartment complex there. The project was to be built in phases and was named the "Meadowbrook Project”. Thereafter, in July 1988 and November 1988, Jamel executed two mortgages securing loans from plaintiff which financed phase I of…
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