Sally secures a $$500,000$ construction loan from Riverbank Bank for improvements to her building. She signs a first deed of trust against her building, which is recorded by Riverbank Bank on May $1.$ Larry commences improvements to the site on June $1.$

On August $1,$ Larry has completed $$400,000$ work on Sally$$s building, but Sally has only paid him $$250,000$ using the construction loan. Sally announces she cannot complete the project and Larry immediately records a mechanics lien for $$150,000.$

Due to the real estate downturn Sally defaults on the River City Bank construction loan. In the partly finished condition, the building is only worth $$200,000.$

Answer the following:

$1.$ How much will Larry$$s mechanics lien get him and why? Show your calculations and explain.

$2.$ Is there another remedy?