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TWIN OAKS ASSOCIATES v. DeKALB VENTURE, LTD.

77827, 77828.

190 Ga. App. 854 (1989)

380 S.E.2d 469

TWIN OAKS ASSOCIATES v. DeKALB VENTURE, LTD.; and vice versa.

Court of Appeals of Georgia.

Rehearing Denied March 21, 1989.

Attorney(s) appearing for the Case

Glass, McCullough, Sherrill & Harrold, Robert S. Jones, Terrence McQuade, Dinah L. Hamilton, for appellant.

DeWitte Thompson, Jefferson B. Slagle, for appellee.

CARLEY, Chief Judge.

Twin Oaks Apartments Associates (Twin Oaks) purchased an apartment complex. In connection with the purchase, Twin Oaks executed a promissory note and deed to secure debt. The note that was executed by Twin Oaks provided for a prepayment penalty. Subsequently, Twin Oaks sold the apartment complex. Twin Oaks financed this sale, taking back a wraparound promissory note and deed to secure debt executed in its favor. Thereafter, the apartment complex...

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