MONUMENTAL LIFE INS. CO. v. COM. LAND TITLE INS. CO.

No. 83-351.

435 So.2d 975 (1983)

MONUMENTAL LIFE INSURANCE COMPANY, Appellant, v. COMMONWEALTH LAND TITLE INSURANCE COMPANY, Appellee.

District Court of Appeal of Florida, Third District.

August 9, 1983.


Attorney(s) appearing for the Case

Mershon, Sawyer, Johnston, Dunwody & Cole and Stephen M. Corse, Miami, for appellant.

Kimbrell, Hamann, Jennings, Womack, Carlson & Kniskern and Thomas B. Bourque, Miami, for appellee.

Before BARKDULL, BASKIN and DANIEL S. PEARSON, JJ.


PER CURIAM.

As part of negotiations leading to the increase in a debt secured by a mortgage on certain real property (which property was subject to an outstanding lease which contained within its terms an option to purchase the fee) the mortgagee, Monumental, required a deposit of certain funds to indemnify it from possible loss because of a provision in the original mortgage relating to a reduction in certain prepayment penalties upon a change of title. The understanding...

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