Beth Hamedresh Hagadol v. Isserman

On September 22d 1925, the defendant, Isserman, purchased from Elizabeth Avenue Baptist Church of Newark a lot of land twenty-five by one hundred feet on Bergen street, in the city of Newark, for $7,000 and gave a $5,000 purchase-money mortgage to secure part of the purchase price. On the same day he gave the Chalfonte Realty Company a second mortgage for $1,800 on the same property.

On December 2d 1925, he conveyed this lot of land to Congregation Rabbi Meyer Isserman by deed duly recorded on January 4th, 1926. That deed contained the following provision:

"That the Party of the Second Part for…