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FIRST FEDERAL S & L ASS'N v. MORTGAGE CORP., ETC.

Civ. A. No. 75-M-2317.

467 F.Supp. 943 (1979)

FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF MIAMI, Plaintiff, v. MORTGAGE CORPORATION OF the SOUTH, formerly known as Cobbs, Allen & Hall Mortgage Company, Inc., an Alabama Corporation, and Daniel B. Haralson, Defendants.

United States District Court, N. D. Alabama, S. D.

March 19, 1979.

Attorney(s) appearing for the Case

William M. Acker, Jr., Dominick, Fletcher, Yeilding, Acker, Wood & Lloyd, Birmingham, Ala., Robert S. Vance, Birmingham, Ala. (now Cir. Judge), Blackwell, Walker, Gray, Powers, Flick & Hoehl, Miami, Fla., for plaintiff.

James E. Clark, London, Yancey, Clark & Allen, Wm. G. Somerville, Jr. and Henry E. Simpson, Lange, Simpson, Robinson & Somerville, Birmingham, Ala., for defendants.

MEMORANDUM OPINION

McFADDEN, Chief Judge.

I. INTRODUCTION

This matter is before the court on the defendant's motion for summary judgment. This action seeks damages alleged to result from two loan transactions: a loan closed on June 1, 1973 and secured by a 170-unit apartment complex known as the Vestavia Park Apartments; and a loan closed on July 30, 1973 and secured by a motel referred to in the record as a "Quality Inn" or as a "Red Carpet Inn...

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