Onondaga Commercial Dry Wall Corp. v. Sylvan Glen Co.

This is an action brought under article 3-A of the Lien Law against the owner of real property seeking to declare the proceeds of two building mortgages as a trust fund to be used to pay the plaintiff and others similarly situated the balance of money owed them by a defaulting general contractor. The owner borrowed more than his contract price with the general contractor called for to construct the apartment buildings. The plaintiff seeks payment from such funds in excess of the face amount of the contract.

The defendant owner entered into a contract in- the amount of $300,300 to have…