Foreclosure of Construction Loan on Commercial Real Property—Defendants’ Claims That They Had Been Fraudulently Induced to Sign a Document Which Waived Defenses and Counterclaims Rejected—Claims That Lender Delayed Funding, That Lender’s Regulatory Problems Caused It to Pay Itself Interest Instead of Using Funds for Construction and Loan Officers Had Made Oral Promises to Restructure the Loan Also Rejected—Loan/Guarantee Provisions Which Waive Defenses and Counterclaims Are Enforceable
A plaintiff commenced an action against the defendants to foreclose a construction loan on commercial real property. The plaintiff moved for summary judgment and to dismiss certain answers, on the ground that there is “no justiciable issue of fact to be tried and that the answers, defenses, and counterclaims…are without merit….”
