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U.S.I.F. TRIANGLE v. ROCKWOOD DEV. CO.

[No. 357, September Term, 1970.]

261 Md. 379 (1971)

275 A.2d 487

U.S.I.F. TRIANGLE TOWERS CORPORATION v. ROCKWOOD DEVELOPMENT COMPANY

Court of Appeals of Maryland.

Motion for rehearing filed May 7, 1971.

Denied May 11, 1971.

Attorney(s) appearing for the Case

Arthur J. Delaney, with whom were Steven A. Winkelman and Winkelman & Delaney on the brief, for appellant.

Charles R. Donnenfeld, with whom were Michael C. Russ, Arent, Fox, Kintner, Plotkin & Kahn, Robert L. Burchett and Miller, Miller & Canby on the brief, for appellee.

The cause was argued before HAMMOND, C.J., and BARNES, McWILLIAMS, FINAN, SINGLEY and SMITH, JJ.

SINGLEY, J., delivered the opinion of the Court.

This case calls for a determination of the meaning of the phrase "net cash flow", used in a purchase money deed of trust securing deed of trust notes aggregating $850,000.

In March of 1969, Rockwood Development Company (Rockwood), a partnership, sold to U.S.I.F. Triangle Towers Corporation (Triangle Towers) a 260-apartment complex in Bethesda. The purchase price, stated by the contract to be $4,935,000, consisted...

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