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PANKOW CONST. CO. v. ADVANCE MORTG. CORP.

No. 76-3730.

618 F.2d 611 (1980)

PANKOW CONSTRUCTION CO., a California Corporation, Plaintiff-Appellant, v. ADVANCE MORTGAGE CORPORATION, a Delaware Corporation, Defendant-Appellee, v. PACHECO VILLAGE PROPERTIES, a partnership, and Leo S. Wou, Third-Party Defendants-Appellees.

United States Court of Appeals, Ninth Circuit.

May 13, 1980.

Attorney(s) appearing for the Case

Peter V. Shackter, Bohnert, McCarthy, Flowers, Roberts & Damir, San Francisco, Cal., for plaintiff-appellant.

Jan T. Chilton, Severson, Werson, Berke & Melchior, San Francisco, Cal., for defendant-appellee.

Before BROWNING and CHOY, Circuit Judges, and CHRISTENSEN, District Judge.

BROWNING, Circuit Judge:

This is an action against a mortgage lender (Advance), brought by a general contractor (Pankow) to recover the balance allegedly due under a contract between Pankow and a construction project developer (Pacheco). The district court denied recovery. We affirm.

In the spring of 1972, Pacheco embarked upon a plan to build a residential apartment complex in Novato, California. After obtaining a commitment from HUD to insure the mortgage...

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