AMSTERDAM SAV. BANK v. MARINE MIDLAND BANK


121 A.D.2d 815 (1986)

Amsterdam Savings Bank, FSB, Appellant, v. Marine Midland Bank, N. A., Respondent

Appellate Division of the Supreme Court of the State of New York, Third Department.

June 19, 1986


Casey, J.

Terra Domus Corporation (Terra Domus), now defunct and a nonparty to this suit, built an apartment complex in the Village of Morrisville, Madison County, in 1980 and 1981. Plaintiff is the permanent lender and mortgagee. Defendant is the construction lender for the project.

In 1982, plaintiff foreclosed on its mortgage and subsequently concluded that Terra Domus had failed to build the project...

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