The estate of a deceased principal of a land developer company held a mortgage on lands on which a residential subdivision had been approved, but the public improvements of which had not been completed. The Town drew down the funds on a letter of credit. On the basis of the town's holding drawn down funds, the estate named the town as a party defendant to the foreclosure action. The Town moved to dismiss. This is its memorandum of Law supporting the motion.
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Legal Memoranda: Motions for Summary Judgment/Adjudication |
State, 2nd Circuit, New York |
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