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OCEAN MANOR LTD. v. LINDLAND

No. 76-1809.

580 F.2d 194 (1978)

OCEAN MANOR LIMITED, a Florida Limited Partnership, Plaintiff-Appellee, v. Louise W. LINDLAND, Executrix, is substituted in place of Richard L. Lindland, Deceased, Defendant Third-Party Plaintiff-Appellant, v. KOVACS INVESTMENT GROUP, a Florida Trust, and Lauriston L. Crockett Trust, a Florida Trust, Jointly and Severally, Third-Party Defendants.

United States Court of Appeals, Fifth Circuit.

Rehearing Denied October 27, 1978.

Attorney(s) appearing for the Case

W. John Gundlach, Jr., Miami, Fla., for defendant-third-party plaintiff-appellant.

John A. Thabes, Ft. Lauderdale, Fla., for plaintiff-appellee.

Before INGRAHAM, GEE and TJOFLAT, Circuit Judges.

PER CURIAM:

This appeal presents as its sole issue the question whether actions by Ocean Manor Limited (Ltd.), the obligee on a wrap-around1 real estate note and mortgage, were of such a nature as to discharge Richard L. Lindland, an uncompensated partial guarantor of the note, from his guaranty agreement.

Ltd. sold a hotel to Ocean Manor, Inc. (Inc.) pursuant to an agreement by which Inc. was to assume three prior mortgages, whose...

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