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CITY CENTRE 1 ASSOC. v. TCHRS. INS. & ANNUITY ASS'N

Civ. A. No. 86-C-0332A.

656 F.Supp. 658 (1987)

CITY CENTRE ONE ASSOCIATES, a Utah limited partnership, Plaintiff, v. TEACHERS INSURANCE AND ANNUITY ASSOCIATION OF AMERICA, a New York not-for-profit corporation, Defendant and Counterclaimant, v. CITY CENTRE ONE ASSOCIATES, a Utah limited partnership, Price/Prowswood, Ltd., a Utah partnership, Price Development Company, a Utah corporation and the Prowswood Corporation, a Utah corporation, Defendants to Counterclaim.

United States District Court, D. Utah, C.D.

March 31, 1987.

Attorney(s) appearing for the Case

Reed L. Martineau, Max D. Wheeler, Damian C. Smith, of Snow, Christensen & Martineau, Salt Lake City, Utah, for plaintiff/defendants to counterclaim.

L. Ridd Larson, Larry G. Moore, Ira B. Rubenfeld, of Ray, Quinney & Nebeker, Salt Lake City, Utah, for defendant and counterclaimant.

MEMORANDUM OPINION ON PLAINTIFF'S MOTION FOR PARTIAL SUMMARY JUDGMENT

ALDON J. ANDERSON, Senior District Judge.

INTRODUCTION

On March 27, 1984, defendant Teachers Insurance and Annuity Association of America, a New York non-profit association, entered into a loan commitment agreement with Price/Prowswood LTD., whereby defendant agreed to lend Price/Prowswood $14.5 million for the construction of an office building in Salt Lake City. The agreement...

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