Faith Assembly v. Titledge of New York Abstract, LLC
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Dickerson, J.
Introduction
The plaintiff religious corporation operates the Faith Assembly Church in Richmond Hill, Queens. In June 2006, the *49plaintiff borrowed $2.2 million from CMAC, LI) in part to perform renovations to the church and open a day care center. The loan was secured by a mortgage on the church premises. At closing on June 27, 2006, the plaintiff and CMAC, LP executed an escrow agreement with the defendant Titledge of New York Abstract, LLC (hereinafter Titledge). Under the terms of the escrow agreement, approximately $640,000 of the loan proceeds was to be…
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