BOSTON FIVE CENTS SAV. BANK v. PIERCE

Civ. A. No. 81-34-T.

601 F.Supp. 38 (1984)

The BOSTON FIVE CENTS SAVING BANK, Plaintiff, v. Samuel R. PIERCE, Jr., Secretary of the United States Department of Housing and Urban Development, and Kenmore Tower Corporation, Defendants.

United States District Court, D. Massachusetts.

October 26, 1984.


Attorney(s) appearing for the Case

Harrison & Maguire, Stewart T. Herrick, Boston, Mass., for plaintiff.

Gregory Flynn, Asst. U.S. Atty., Boston, Mass., James G. Bruen, Jr., Civil Div., Dept. of Justice, Washington, D.C., for Secretary of Housing and Urban Development, Elizabeth A. Ritvo, Brown, Rudnick, Freed & Gesmer, Boston, Mass., for Kenmore Tower Corp.

Anthony M. Feeherry, Goodwin, Procter & Hoar, Boston, Mass., for Nat'l Ass'n.


ORDER

TAURO, District Judge.

This court approves Magistrate DeGiacomo's report and recommendation. In addition to the points made by the Magistrate in his report, this court notes that section 4 of the mortgage agreement, which states that all "rents, profits and income" from the property are assigned to the mortgagee, supports a conclusion that the parties did not intend to limit the subject property to use as rental units. If the parties had indeed contemplated...

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