Construction loan agreements in a number of unrelated industries are the center of discussion. While the frequency of construction loan agreements has dwindled, their presence in the corporate scene has not been quieted.

In early March 2009, the construction loan agreement worth over $14 million dollars between Baymount Inc. and the Ontario Lottery and Gaming Corporation was amended to restate a number of the original clasues from July of 2008.

In February 2009, stalled Landmark Hotel owner Halsey Minor filed a lawsuit against his hotel’s developer and financial lender in search of severing the construction loan agreement as well as all other ties between the business entities.

Also in March 2009, private investors sued JP Morgan Chase Bank for damages in excess of $350,000 for breach of their construction loan agreement and failure to convert the construction loan into permanent financing.

It is interesting to monitor the development of construction loan agreements as the economy balances out. Legal document websites like RealDealDocs.com make such monitoring possible as they offer execution copies of the construction loan agreements for the nation’s top corporations as well as small companies.

RealDealDocs.com is a division of Practice Technologies, Inc. the creators of SmartRules.com.
SmartRules provides step by step guides to local rules and civil procedure for state courts & federal courts throughout the country.

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