Court of Appeals of New York
Jade Realty LLC v. Citigroup Commercial Mortgage, 185
In property owner's suit against its lender for breach of contract and seeking to recover payment of yield maintenance in the amount of $146,104.56, the appellate division's judgment in favor of the property owner is affirmed where a reasonable interpretation of the Note is that, there having been no default on plaintiff's part and acceleration of the maturity date by the lender, there could be no "positive difference" between the Note Rate and the relevant "current yield," such that plaintiff owed no yield maintenance under the Note.
Appellate Information
- Decided 11/19/2012
- Published 11/19/2012
Judges
Court
- Court of Appeals of New York