In January 1992, Classic Developers of Schodack entered into a real estate contract wherein it agreed to sell undeveloped land it owned in the Town of Schodack, Rensselaer County, to respondent James J. Maltais who, in turn, agreed to build homes on the land. He further agreed to have Classic named as an additional insured on a builder's risk insurance policy and to indemnify and hold Classic harmless...
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