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MORRISSETTE v. PERPETUAL BUILDING ASSOCIATION

No. 2307.

150 A.2d 262 (1959)

Arthur E. MORRISSETTE and Clara M. Morrissette, Appellants, v. PERPETUAL BUILDING ASSOCIATION, Appellee.

Municipal Court of Appeals for the District of Columbia.

Decided April 14, 1959.

Attorney(s) appearing for the Case

Milton M. Burke, Washington, D. C., for appellants.

N. Meyer Baker, Washington, D. C., with whom Scrivener & Parker, Washington, D. C., and Mercier, Sanders, Baker & Schnabel, Washington, D. C., were on the brief, for appellee.

Before ROVER, Chief Judge, and HOOD and QUINN, Associate Judges.

ROVER, Chief Judge.

Appellants, desiring to construct a building on certain real estate owned by them, in December 1954 secured from Perpetual a building construction loan of $100,000 to be secured by first deed of trust on the real estate and its improvements. The trust executed by appellants contained the following provisions:

"It is hereby covenanted: * * * * * * "(5) That the improvements forming part of said realty shall be insured...

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