McIntosh Builders, Inc. v. Ball
Appellate Division of the Supreme Court of the State of New York
1Opinion of the CourtYesawich Jr., J.
Appeal from an order of the Supreme Court (Coutant, J.), entered July 1, 1997 in Broome County, which, inter alia, denied defendants’ motions for summary judgment dismissing the complaint.
This action arises from a loan arrangement underlying the ill-fated efforts of plaintiff McIntosh Builders, Inc. to develop a residential subdivision in the Town of Vestal, Broome County. In 1988, McIntosh, in need of funds, executed a mortgage to secure a $335,000 loan from defendant Anne V. Ayres, $160,000 of which was disbursed at the closing. The mortgage note stated that the remaining balance, $175,000…
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