Client Alert

| July 1, 2010

Construction Loan Documents Must Be Carefully Drafted

In the last two years as the economy continued to slump and credit dried up, lenders and borrowers have continued to fight over the funding of loans for projects that seemed unlikely to be successful for possibly a decade, if ever. These decisions usually depend on the clarity and detail contained within the loan agreements because judges inevitably interpret any ambiguity or inference or lack thereof against the lender.

For more information, please contact your Dewey & LeBoeuf relationship partner, or one of the following:

Stuart M. Saft

+1 212 259 8245

Peter S. Britell

+1 212 259 8567

This memorandum is intended only as a general discussion of these issues. It is not considered to be legal advice. We would be pleased to provide additional details or advice about specific situations. For additional information on this important topic, please feel free to call upon your Dewey & LeBoeuf relationship partner. No part of this publication may be reproduced, in whole or in part, in any form, without our prior written consent. For further information on Dewey & LeBoeuf, please visit www.dl.com. +1 888 532 6383