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please answer all the questionss.,.within 30 minutes. make sure the explanation and reasons are explained in very detailed manner. else leave it for other tutor
please answer all the questionss.,.within 30 minutes. make sure the explanation and reasons are explained in very detailed manner. else leave it for other tutor otherwise i will give negative ratings and will also report your answer for unprofessionalism. Make sure the answer is 100% correct and IS NOT COPIED FROM ANYWHERE ELSE YOUR ANSWER WILL DOWNVOTED AND REPORTED STRAIGHTAWAY. USE YOUR OWN LANGUAGE WHILST WRITING. ATTEMPT THE QUESTION ONLY IF YOU ARE 100% CORRECT AND SURE. ELSE LEAVE IT FOR ANOTHER TUTOR. BUT PLEASE DONT PUT WRONG ANSWER ELSE I WILL REPORT. MAKE SURE THE ANSWER IS WELL EXPLAINED AND DETAILED.
Short Answer uestion 1: Lemon, as owner/developer, planned to build a 50-story residential condominium building on an empty lot in midtown Manhattan {the uProject"). On June 1, 2020, Lemon obtained a $150 million construction loan 'om the Bank of Marjoram. The loan agreement required that the loan funds only be used to cover Project costs. On August 1, 2020, Lemon entered into a contract (the \"Contract") with a construction manager, Nutmeg, to build the Project. Nutmeg, in turn, entered into subcontracts with approximately 25 trade contractors to carry out the various aspects of the Project work. Under the Contract, Nutmeg was to submit monthly invoices to Lemon, which Lemon Would pay within 30 days, provided there were no valid objections to the quality of the work. Beginning in May 2021, Lemon started falling behind on payments to Nutmeg. For the rest of 2021 and into the spring of 2022, Lemon repeatedly failed to pay on time, and often withheld funds from Nutmeg for no stated reason. This pattern of late and partial payments began to hinder the subcontractors\" progress. Nutmeg repeatedly notied Lemon of the fact that late payments were causing Project delays, but Lemon ignored these notices. On July 1, 2022, the Project was 35% complete, and it had been over 60 days since Lemon's last payment. By then, several trade contractors had abandoned the Project. By Nutmeg's calculation, Lemon was over $1 million behind in payments. Lemon was so far behind on payments because they had been using about $1 million of the Project's loan proceeds to fund cost overruns on a different projectin New Jersey. What legal remedies does Nutmeg have? Explain your answer in detailStep by Step Solution
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