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  5. 789 F.2d 674 (1986)
 

MATTER OF 268 LTD.

No. 84-2837.

789 F.2d 674 (1986)

In the Matter of 268 LIMITED, A Nevada Limited Partnership, Debtor. JOSEPH F. SANSON INVESTMENT CO., a Limited Partnership and Joseph F. Sanson, Individually, Plaintiffs-Appellants, v. 268 LIMITED, A Nevada Limited Partnership, Defendant-Appellee.

United States Court of Appeals, Ninth Circuit.

Decided May 5, 1986.

As Amended July 29, 1986.

Attorney(s) appearing for the Case

Gerald M. Gordon, Wiener, Waldman, Gordon, Ltd., Las Vegas, Nev., for plaintiffs-appellants.

Joshua Landish, Leonard Wilson, Las Vegas, Nev., for defendant-appellee.

Before MERRILL, GOODWIN and ALARCON, Circuit Judges.

GOODWIN, Circuit Judge:

Appellee-debtor 268 Limited, a Nevada limited partnership organized to acquire and operate an apartment complex for investment purposes, purchased the Shenandoah Square Apartments from appellant Joseph F. Sanson Investment Company (Sanson). Sanson retained a security interest in the property evidenced by a note secured by a first deed of trust. The deed of trust provided that in the event of default and sale of the property by the trustee,...

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