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U.S. v. CENTURY FEDERAL SAV., ETC.

No. 81-444.

418 So.2d 1195 (1982)

UNITED DTATES of America, Appellant, v. CENTURY FEDERAL SAVINGS AND LOAN ASSOCIATION OF ORMOND BEACH, a Corporation Existing under the Laws of the United States of America, et al., Appellees.

District Court of Appeal of Florida, Fifth District.

September 1, 1982.

Attorney(s) appearing for the Case

Gary L. Betz, U.S. Atty., and Wilbur V. Chaney, Asst. U.S. Atty., Orlando, for appellant.

Roger J. McDonald of Butler & McDonald, Orlando, for appellee ITT Diversified Credit Corp.

Louis Ossinsky, Jr. of Ossinsky, Krol & Hess, Daytona Beach, for appellee Halifax Nat. Bank of Port Orange.

No appearance for appellee Century Federal Sav. and Loan Ass'n.

ORFINGER, Chief Judge.

The holder of a valid second mortgage appeals from an order of the trial court ordering excess proceeds (resulting from the sale of the mortgaged property following foreclosure of the first mortgage) distributed to a third and fourth mortgagee, and holding that the second mortgagee had forfeited its claim. We reverse.

Century Federal Savings and Loan Association (Century) filed an action to foreclose its first mortgage. It listed the...

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