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CALUMET FED. S. & L. ASS'N OF CHICAGO v. LAKE CTY. TR. CO.

Nos. 74-1117 and 74-1118.

509 F.2d 913 (1975)

CALUMET FEDERAL SAVINGS AND LOAN ASSOCIATION OF CHICAGO, a corporation of the United States of America, Plaintiff-Appellant, v. LAKE COUNTY TRUST COMPANY, a corporation of Indiana, as Trustee under Trust Agreement dated February 1, 1966, and known as Trust No. 1217 et al., Defendants-Appellees. CALUMET FEDERAL SAVINGS AND LOAN ASSOCIATION OF CHICAGO, a corporation of the United States of America, Plaintiff-Appellee, v. E. J. LEWIS INVESTMENT CO., INC., et al., Defendants-Appellants, and Hil-Budd Corporation, Defendant-Appellee et al.

United States Court of Appeals, Seventh Circuit.

Decided January 17, 1975.

Rehearing Denied February 19, 1975.

Attorney(s) appearing for the Case

Paul R. Hoffman and J. Stirling Mortimer, Chicago, Ill, for Calumet Fed. Sav.

Joseph D. Anderson, South Bend, Ind., for E. J. Lewis Inv.

Harvey J. Barnett, Chicago, Ill, for Lake County Tr.

Before HASTINGS, Senior Circuit Judge, and STEVENS and SPRECHER, Circuit Judges.

SPRECHER, Circuit Judge.

There are two major questions raised by the two consolidated appeals of this diversity case. First, whether the mortgage held by the plaintiff, Calumet Federal Savings and Loan Association of Chicago (Calumet), was in default, and second, whether and to what extent Hil-Budd Corporation (Hil-Budd) as holder of a second mortgage on the subject properties was entitled to damages because of Calumet's failure to give them thirty days notice of...

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