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Construction Contracts Mortgages

White and Williams LLP

The New York Lien Law - Top Ten Things You Ought to Know

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Over the course of my career, I have had the privilege of working with and representing numerous construction lenders (and borrowers/developers) in the financing of some of the largest commercial projects in the United...more

Cole Schotz

Balancing Mortgage and Mechanics Lien Priorities in New York

Cole Schotz on

In an ideal world, the interests of contractor and lender involved in the same construction project are aligned: the project succeeds, and everyone is paid what they’re owed. But when the interests of contractor and lender...more

Blank Rome LLP

Foundation: July 2015 • Vol. II, Issue 2

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Warranty/Guaranty Provisions in Construction Contracts - The most confusion I have seen in the discussion of construction topics concerns the concepts of “warranty” and “guaranty.” This article will address the...more

Cohen Seglias Pallas Greenhall & Furman PC

New Changes to Pennsylvania Mechanics' Lien Law Take Effect

On July 9, 2014, Pennsylvania Governor Tom Corbett signed a bill (S.B. 145) into law that amends the Pennsylvania Mechanics’ Lien Law of 1963 (the “Lien Law”). The new law took effect on September 8, 2014 and affects...more

Sheppard Mullin Richter & Hampton LLP

Mechanics Lien Subordination: Illinois Further Limits Construction Lenders’ Ability To Ensure Priority Against Mechanics Liens

On July 16, 2014, Illinois enacted Public Act 98-764 (Senate Bill 3023) (“SB 3023”), which amends the Illinois Mechanics Lien Act (770 ILCS 60/ et seq.) (the “Act”) to prohibit subordination of mechanics liens on Illinois...more

Snell & Wilmer

Arizona Supreme Court to Contractor: Sorry But Equitable Subrogation of a Bank’s Later Deed of Trust Trumps Earlier Mechanics’...

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The smoke has finally cleared in a hard and long-fought battle between a bank and contractor both claiming priority to foreclose millions of dollars on a Phoenix condominium project. The project, well-known as Summit at...more

K&L Gates LLP

Changes Made to the Pennsylvania Mechanics’ Lien Law to Protect Holders of Open-End Mortgages and Residential Property Owners

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Mechanics’ liens grant contractors and subcontractors an interest in improvements made to real property to secure the payment obligations of owners to contractors, and of contractors to subcontractors. While these liens...more

Foley & Lardner LLP

Court of Appeals Rejects Attempted Restriction of “Mortgage Banker” Priority Provision

Foley & Lardner LLP on

On February 20, 2014, the Wisconsin Court of Appeals issued an opinion interpreting the meaning of “mortgage banker” under Wis. Stat. § 224.71(3) and finding that a mortgage holder was entitled to the priority afforded under...more

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