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COM. STANDARD INS. CO. v. BRYCE ST. APTS., LTD.

No. 81-1578.

703 F.2d 904 (1983)

COMMERCIAL STANDARD INSURANCE COMPANY, Plaintiff-Appellee-Appellant, v. BRYCE STREET APARTMENTS, LTD., et al., Defendants. RYAN MORTGAGE COMPANY, et al., Defendants-Appellees, v. Samuel R. PIERCE, Jr., Secretary, Department of Housing and Urban Development, Defendant-Appellant.

United States Court of Appeals, Fifth Circuit.

April 25, 1983.

Attorney(s) appearing for the Case

James A. Rolfe, U.S. Atty., Anthony W. Vaughn, Asst. U.S. Atty., Fort Worth, Tex., Michael Kimmel, Atty., Appellate Staff, Civ. Div., Dept. of Justice, Washington, D.C., for defendant-appellant.

McBryde, Bogle & Green, John F. Green, Jr., Fort Worth, Tex., for Commercial Standard Ins. Co.

Sloan B. Blair, Fort Worth, Tex., for Ryan Mortg. Co.

Jerry Tidwell, Weatherford, Tex., for Judy McVeigh Cordell.

Before BROWN, GOLDBERG, and HIGGINBOTHAM, Circuit Judges.

PATRICK E. HIGGINBOTHAM, Circuit Judge:

This is the third and final case we decide today concerning rights to construction holdbacks on projects financed by HUD-insured mortgages. Commercial Standard Insurance Co., a surety, brought suit against HUD and several other parties to recover amounts it had paid in satisfaction of subcontractors' claims. It urged that it was entitled to recover the sum of unadvanced mortgage proceeds...

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