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What is Urban Systems v. NCNB Mortgage Appeal about?

This document summarizes a court case involving a construction company (USDC) suing two lenders (NCNB and First Federal) for funds remaining in construction loans after USDC was terminated from projects by the owner (Vector). The court found that: 1) USDC had no legal claim to the undisbursed loan funds under a "trust fund" theory since the loans were not set up as trusts and the lenders were not obligated to oversee funds. 2) USDC was not a party to one of the loan agreements and the agreement did not req

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Scribd Government Docs

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EN