The closure of the offices of local recorder and district agents under COVID-19 and the prospect of future closures have had a profound impact on commercial real estate transactions. This is especially true in New York, where closures prevent the deposit of pawn and construction loans and, in some cases, prevent the start of new construction projects. Except that this section does not apply to mortgages taken by the owners` loan company, an organization formed as part of a convention deed, known as the „thirteen- and thirty-three-year-old landlords` loan deed“ and „the loan deed of the owners of thirteen and thirty-three, as amended,“ this mortgage premiums all the pledges deposited after the registration date of the mortgage, that the cash bonds and/or bonds for which the mortgage was taken were pre-entered at the time of the execution of that mortgage or its subsequent amount, and there is no need to execute and present a construction credit contract or other contract. , in accordance with this section or part of it. With respect to ongoing construction projects in New York, it is likely that current conditions will cause borrowers to modify their existing construction credit contracts. However, Section 22 of the New York Link Act requires that any change to a construction loan agreement within 10 days of the implementation of the amendment, as well as an update to Section 22 affidavit.i If the amendment is not submitted within that 10-day period, a construction credit mortgage may lose some or all of their property rights compared to those submitted later.ii 22 ready for construction. A construction loan agreement, with or without the sale of land, and any changes to it must be duly recognized and contain a statement verified by the borrower, verified by the borrower, indicating that the consideration for the loan it describes is paid for or paid for; and all other expenses, if any, to be submitted to the office of the administrator of the county in which part of the land is located, except that any subsequent modification of such a construction credit contract, which is thus presented, must be submitted within ten days of the date of execution of such an amendment.