While constructing a house financed by a $25,000 construction loan from Marine Midland Bank (Marine), plaintiffs contracted to sell the house to the Herberts. The Elmira Savings Bank (Elmira) thereafter made a mortgage loan commitment to the Herberts. Due to the fact that plaintiffs could not finish the house by the closing date certain financial arrangements were made. On the closing date of July 13, 1973, according to the testimony of plaintiff Bernard Ahouse, he received...
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