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ENGEL MORTG. CO., INC. v. DOWD

No. DD-270.

355 So.2d 1210 (1977)

ENGEL MORTGAGE COMPANY, INC., Appellant, v. John R. DOWD, Appellee.

District Court of Appeal of Florida, First District.

November 22, 1977.

Attorney(s) appearing for the Case

F.B. Estergren, of Estergren, Fortune, Anchors & Powell, Fort Walton Beach, for appellant.

Thomas T. Remington, of Smith, Grimsley, Barron & Remington, Fort Walton Beach, for appellee.

ERVIN, Judge.

Appellee John Dowd, apparently in partnership with three others, started construction of a 26 unit condominium project in Okaloosa County. The construction loan on the project became due June 27, 1974. In December, 1973, appellant Engel Mortgage Company agreed to provide permanent financing for buyers in exchange for Dowd's $14,000.00 commitment fee. The mortgage company's commitment letter stated the terms of the financing and concluded, "This commitment...

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