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GUARDIAN FEDERAL SAVINGS & LOAN ASS'N v. SUSKIND

No. 4891.

265 A.2d 295 (1970)

GUARDIAN FEDERAL SAVINGS & LOAN ASSOCIATION, Appellant, v. Herbert P. SUSKIND, Appellee.

District of Columbia Court of Appeals.

Decided May 5, 1970.

Attorney(s) appearing for the Case

Joseph V. Gartlan, Jr., Washington, D. C., with whom Michael A. Greenspan, Washington, D. C., was on the brief, for appellant.

Allen A. Sperling, Washington, D. C., for appellee.

Before KELLY, FICKLING and KERN, Associate Judges.

KELLY, Associate Judge:

This appeal concerns the priority of a purchase-money deed of trust containing a provision that it "shall be and is subordinate to any construction loan or loans and any and all advances made under said construction loan or loans or to a permanent loan or loans made by a reputable building association or bank." The deed of trust, recorded on March 17, 1964, was executed by A & D Investments, Inc. (hereinafter A & D) to secure $7,500...

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