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UNITED STATES v. GREGORY PARK, SECTION II, INC.

Civ. A. No. 1310-73.

373 F.Supp. 317 (1974)

UNITED STATES of America, Plaintiff, v. GREGORY PARK, SECTION II, INC., et al., Defendants.

United States District Court, D. New Jersey.

March 26, 1974.

Attorney(s) appearing for the Case

Jonathan L. Goldstein, U. S. Atty., by William A. Carpenter, Jr., Asst. U. S. Atty., Newark, N. J., for plaintiff.

Ravin & Ravin, by David N. Ravin, Newark, N. J., for defendant, Gregory Park, Section II, Inc.

OPINION

LACEY, District Judge:

The United States sues to foreclose upon two mortgages held by the Secretary of Housing and Urban Development (HUD) on two high rise apartment complexes, Gregory Park Section 1 (GP 1) and Gregory Park Section 2 (GP 2), owned by the defendant Gregory Park, Section II, Inc. (GP II). The Government claims that defendant has defaulted on payments due, has made prohibited advances to affiliates, and otherwise breached the mortgages...

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