In May 1986, defendant executed a building loan agreement, note and mortgage in the amount of $8,750,000 or so much thereof as plaintiff bank advanced. The construction project encountered substantial difficulties, including delays and cost overruns. After having made advances of approximately $5,000,000, plaintiff ceased making further advances in the spring of 1987. This foreclosure action was brought in April 1988, on the basis of default in making monthly interest payments...
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