The provision in the subject agreements permitting plaintiff to demand, as it did, interest not only on the money it advanced to defendant but also on the escrowed funds to which defendant had no access made the agreements usurious since, as the IAS Court found, it effectively required defendant to make combined interest payments at an annual rate of approximately 80% (Penal Law § 190.40; see, East Riv. Bank v Hoyt, 32 N.Y. 119). We also agree with the...
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