CENTURY FEDERAL SAV. & LOAN ASS'N v. MADORSKY

No. FF-32.

353 So.2d 868 (1977)

CENTURY FEDERAL SAVINGS AND LOAN ASSOCIATION (Formerly Ormond Beach Federal Savings and Loan Association), Appellant, v. Max MADORSKY, Individually and As Trustee, and Anne Madorsky, His Wife, Nat Korash and Betty Jane Korash, His Wife, Appellees.

District Court of Appeal of Florida, First District.

Rehearing Denied February 1, 1978.


Attorney(s) appearing for the Case

Sam Spector of Spector & Tunnicliff, Henry P. Duffett and William Akers, III, of Duffett, Seps & Akers, Ormond Beach, for appellant.

S. LaRue Williams of Kinsey, Vencent, Pyle & Williams, Daytona Beach, for appellees.


RAWLS, Acting Chief Judge.

In constructing an apartment complex, Madorsky, et al., (Madorsky) borrowed $1,140,750.00 from Century at a rate of 8 1/2 percent per annum. In July, 1973, some two years after execution of the note and mortgage, Madorsky decided to sell the apartment complex, which sale would necessitate a prepayment of Century's mortgage. Century refused their request to waive the provisions of the prepayment privilege and penalty.1<...

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