The parties entered into a contract dated December 18, 1989, under the terms of which plaintiff was to construct a residence on real property then owned by it and, upon completion, convey the improved property to defendant for the total price of $589,000, plus the cost of extras and upward adjustments on allowances, if any. Defendant paid plaintiff deposits totaling $196,333, which were secured by a second mortgage on the property, executed...
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