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CONTINENTAL MTG. INV. v. SAILBOAT KEY, INC.

No. 75-1686.

354 So.2d 67 (1977)

CONTINENTAL MORTGAGE INVESTORS, a Massachusetts Business Trust, Appellant, v. SAILBOAT KEY, INC., a Florida Corporation, Appellee.

District Court of Appeal of Florida, Third District.

Rehearing Denied February 10, 1978.

Attorney(s) appearing for the Case

Sibley, Giblin, Levenson & Glaser, Miami, Richard H.M. Swann, Coral Gables, for appellant.

Lapidus & Hollander, Miami, for appellee.

Before HENDRY, C.J., and PEARSON and HAVERFIELD, JJ.

PER CURIAM.

The mortgagee, Continental Mortgage Investors, appeals an adverse judgment of $1,321,924.06 plus costs in favor of the mortgagor, Sailboat Key, Inc., in this foreclosure action based upon a determination that a loan agreement was usurious.

Burton Goldberg, president of Sailboat Key, Inc., entered into negotiations on behalf of Sailboat Key with Continental Advisors for financing the acquisition and development...

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