In January, 1901, one William Reichert bought from the plaintiff, Uhlf elder, the premises No. 319 East Seventieth street, subject to a first mortgage of $12,000, held by the New York Savings Bank) giving at the time a purchase-money mortgage of $5,000. In July, 1901, the plaintiff parted with a one-third interest in this second mortgage to Emma Weinberg. Reichert having defaulted in the payment of interest on the second mortgage, foreclosure proceedings were begun in July, 1902. These proceedings resulted in a sale by a referee at public auction on the 16th of February, 1903; Uhlf elder being the highest bidder became the purchaser. The net proceeds of the sale over and above the prior liens were $2,549.56. Two-thirds of this amount were credited to the plaintiff on his purchase and one-third to Weinberg. Soon after the sale Uhlf elder assigned a one-third interest in his bid to Abraham Weinberg, another one-third to Isaac Heilbrun, and retained one-third for himself. The referee’s deed was made to these three persons and was dated March 16, 1903. It was delivered and recorded some time in June, 1903. The referee’s report of sale was filed July 9, 1903. The premises in question were insured under a policy issued by defendant to Reichert, the owner, for a term of three years from March 5, 1900, to March 5, 1903," at twelve o’clock noon. A fire occurred on March 5, 1903, a few hours before the policy expired, and caused 'a damage of $2,900 to the building. The policy contained the usual New York standard mortgagee clause, under which the loss or damage is made payable to the mortgagee as interest may appear. Accordingly the plaintiff brought this action to recover the amount of the damage, $2,900, basing his right to recover upon the mortgagee clause. It has been held that such a clause “ makes an entirely separate insurance of the mortgagee’s interest, and he takes the same benefit from his insurance as if he had received a separate policy from the
Complaint dismissed, with costs.