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DWS HOLDINGS, INC. v. HYDE PARK ASSOCIATES

No. 234, September Term, 1976.

33 Md. App. 667 (1976)

365 A.2d 554

DWS HOLDINGS, INC. v. HYDE PARK ASSOCIATES ET AL.

Court of Special Appeals of Maryland.

Decided November 10, 1976.

Attorney(s) appearing for the Case

Christopher Sanger for appellant.

David A. Sacks and Rodney F. Page, with whom were Arent, Fox, Kintner, Plotkin & Kahn on the brief, for appellees.

The cause was argued before THOMPSON, MOYLAN and LOWE, JJ.

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

Prologue

In seeking the top development dollar for its land, appellant, DWS Holdings, Inc., (DES) was compelled to risk losing 10% of its selling price by taking back a note, secured by a deed of trust, for that portion of the price. Because land purchased for development presupposes substantial construction financing, appellant agreed to subordinate its deed of trust lien to the lien of "any Deed of Trust securing...

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