Orange National Bank v. 2235 Webster Avenue Corp.

This action is to foreclose a second mortgage on real property. The mortgage was to run until 1932. The plaintiffs elected to consider the whole of the principal sum due and payable because of non-payment of an installment of principal due on June 1, 1930, the plaintiffs thereby acquiring the right under the bond and mortgage to elect that the whole of the remaining unpaid sum secured by said bond and mortgage should become immediately due and payable. Also, the plaintiffs complain of a default by omission to pay taxes for the first half of the year 1930, which became due and payable on May…