KEYSTONE BLDG. C. v. LINCOLN S. & L. ASSN.


439 Pa. 444 (1970)

Keystone Building Corporation v. Lincoln Savings and Loan Association, Appellant.

Supreme Court of Pennsylvania.

July 2, 1970.


Attorney(s) appearing for the Case

Milton W. Lamproplos, with him John R. Smith, and Eckert, Seamans & Cherin, for appellant.

Frank J. Gaffney, with him Thorp, Reed & Armstrong, for appellee.

Before BELL, C.J., JONES, COHEN, EAGEN, O'BRIEN, ROBERTS and POMEROY, JJ.


OPINION BY MR. JUSTICE ROBERTS, July 2, 1970:

The Keystone Building Corporation, the Lincoln Savings and Loan Association, and the Manufacturers Life Insurance Company of Canada entered into a construction loan agreement on October 7, 1968. Under the terms of the agreement Lincoln agreed to lend Keystone the funds necessary to finance Keystone's construction of an apartment complex and Manufacturers agreed to be the permanent mortgagee for the project.

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