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INTERNAL PROTOTYPE — NOT LEGAL ADVICE — DO NOT SEND

Federated Mortgage Investors v. American Savings & Loan Association, 47 Cal. App. 3d 917 (1975)

Citation
Federated Mortgage Investors v. American Savings & Loan Association, 47 Cal. App. 3d 917 (1975)
Parent Document
Federated Mortgage Investors v. American Savings & Loan Association, 47 Cal. App. 3d 917 (1975)
Jurisdiction
California (state)
Effective Date
1975-05-02

Other Sections in This Document (58)

Full Text

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construction ($4.2 million) was supplied by American who acquired a first trust deed dated October 21, 1963, recorded October 28, 1963. This trust deed gave American the right, inter alia, to receive rents, issues, and profits as additional security. In April of 1965 Federated’s predecessor (Kirkeby-Natus) loaned Eichler $1.8 million and acquired a second trust deed (recorded Apr. 9, 1965) which was subordinate to American’s first trust deed. Eichler defaulted. Federated gave notice of default and election to sell on August 29, 1966. American gave notice of default and election to sell on September 8, 1966. 2