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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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The trial court was required to interpret paragraph 7 of Exhibit L and specifically whether the figure $325,000 therein used was arrived at by the parties after application of the security deposits to reduce American’s claim or more specifically whether American would have consented to limit its claim in the escrow to a sum of $325,000 (in excess of the new loan with costs) if it had not reduced its claim by the amount of the security deposits. The agreement (Exhibit L) was drawn by Federated. Therefore the court was required to resolve any ambiguity therein against the author—Federated. (Civ. Code, § 1654; 7 Taylor v. J. B. Hill *925 Co., 31 Cal.2d 373 [189 P.2d 258]; Pacific Lbr. Co. v. Ind. Acc. Com., 22 Cal.2d 410 [139 P.2d 892]; Yamanishi v. Bleily & Collishaw, Inc., 29 Cal.App.3d 457, 463 [105 Cal.Rptr. 580]; Gillespie v. Ormsby,