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TRUSTEES OF CAMERON-BROWN v. TAVORMINA

No. 79-895.

385 So.2d 728 (1980)

TRUSTEES OF CAMERON-BROWN INVESTMENT GROUP, Appellants, v. Jeanette E. TAVORMINA and Justin P. Havee, As Trustees for D. Mitchell Investments, Inc., a Florida Corporation and Harriet P. Mitchell, Appellees.

District Court of Appeal of Florida, Third District.

July 8, 1980.

Attorney(s) appearing for the Case

Bailey & Dawes and Jesse C. Jones, Miami, for appellants.

Greenfield & DuVal and Harvie S. DuVal, Coral Gables, for appellees.

Before HENDRY and SCHWARTZ, JJ., and VANN, HAROLD R. (Ret.), Associate Judge.

HENDRY, Judge.

Beginning in 1972, appellees obtained a series of construction loans from appellants and others, ultimately totalling three and one-quarter million dollars. The loans were evidenced by promissory notes, and secured by various mortgage instruments. In 1976, appellants were forced to foreclose. In that foreclosure action, the loans were found to be usurious, and appellants' award was limited by the statutory penalty to somewhat over half the amount of...

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