Question: ABC. Developments is applying for a mortgage to build a new three - story condominium. North York Bank has approved the loan but will not

ABC. Developments is applying for a mortgage to build a new three-story condominium. North York Bank has approved the loan but will not be giving the entire amount of the proceeds to the borrower on closing, Rather, it will be releasing funds in stages. This type of mortgage is referred to as a(n):Select onea. Draw mortgageVendor take-backc. Equity take-outCollateral mortgage

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