In April 1989, plaintiffs entered into an "agreement for lot & home purchase" with defendant Bear's Estates Development of Smallwood, N. Y., Inc. (hereinafter defendant), the developer of a residential subdivision known as Tallwood Estates in the Town of Bethel, Sullivan County, whereby defendant was to convert a partially constructed five-room dwelling on one of the subdivision lots into a six-bedroom, three-bathroom single-family home...
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