On or about September 5, 1991 plaintiffs contracted to purchase defendants' real property in the Village of Cooperstown, Otsego County, and paid $10,500 as a down payment to be held in escrow; the purchase price was $175,000. To the extent pertinent here, the contract was made contingent upon (a) the "[p]urchaser obtaining * * * mortgage financing from a banking or lending institution * * * in the sum of $157,500" and (b) "a satisfactory...
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