LBM Financial, LLC v. Individual Lot, LLC

Fremont-Smith, Thayer, J.

In this action, the plaintiff, LBM Financial, LLC (“LBM”) financed the defendant, Individual Lot, LLC (“Individual Lot’j’s purchase of a construction project in Grafton, Massachusetts from the third-party defendant, Ferry Ridge (“Ferry Ridge”), and provided Individual Lot with a construction loan which was guaranteed by defendant Calarese (“Calarese”) and was secured by a mortgage on real estate of the other defendants. After construction commenced, the company which had been retained to build the development, LRC Development Services (“LRC”), experienced drainage…