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FRANKLIN FINANCIAL v. NEW EMPIRE DEVELOP. CO.

No. 17857.

659 P.2d 1040 (1983)

FRANKLIN FINANCIAL, A Utah corporation, Plaintiff and Respondent, v. NEW EMPIRE DEVELOPMENT COMPANY, a partnership, Ronald S. Cook, Ray W. Lamoreaux, Wendell P. Hansen, Myron B. Child, Jr., Ponderosa Associates, Thomas E. Sawyer, and Hillgate Park Partnership, et al., Defendants and Appellants.

Supreme Court of Utah.

February 14, 1983.

Attorney(s) appearing for the Case

Gary A. Atkin, John B. Anderson, R. Dennis Ickes, H. Mifflin Williams, III, John L. McCoy, Salt Lake City, for defendants and appellants.

Ralph J. Marsh, Salt Lake City, for plaintiff and respondent.

STEWART, Justice:

This is a suit by the seller of an apartment house to foreclose a contract of sale and recover the amounts due on the contract and five promissory notes. Plaintiffs moved for and were granted summary judgment, the property was sold, and plaintiff retained all the proceeds of the sale. Three junior lienholders appeal, challenging plaintiff's priority and claiming a share of the sale proceeds. We affirm.

On April 1, 1978 plaintiff, Franklin...

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