a$)$ Sedgewick arranged for an open$-$end construction loan from the Second National Bank not to exceed $$50,000.$ The loan was closed and Sedgewick drew $$30,000$ initially. Three months later he drew the remaining $$20,000.$ What is the banks position concerning the possibility of intervening liens? $(8$ mks$)$b$)$ If$,$ in Problem$1,$ there was no definite agreement for future advances between Sedgewick and the bank at the time the initial $$30,000$ loan was closed, would your answer be different? $(4$mks$)$c$)$ Last year Jones obtained a mortgage loan for $$100,000.$ He just inherited a large sum of money and is contemplating prepaying the entire loan balance to save interest. What are his rights to prepay the loan?