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IN RE TERRACE GARDENS PARK PARTNERSHIP

Bankruptcy No. 87-30855.

96 B.R. 707 (1989)

In re TERRACE GARDENS PARK PARTNERSHIP f/d/b/a Terrace Gardens Office Park, Debtor.

United States Bankruptcy Court, W.D. Texas, El Paso Division.

January 6, 1989.

Attorney(s) appearing for the Case

Leslie M. Luttrell, Hagans Ginnings Birkelbach Keith & Delgado, El Paso, Tex., for debtor.

Harrel L. Davis, III, Grambling & Mounce, El Paso, Tex., for El Paso Federal Sav. & Loan Ass'n.

Jeanette James, Hardie, Hallmark, Sergent, Hardie & Langford, El Paso, Tex., for Texas Nat. Bank.

MEMORANDUM OF OPINION

LEIF M. CLARK, Bankruptcy Judge.

At El Paso, Texas came on for hearing the Motion of El Paso Federal Savings & Loan Association ("EPF") for Relief from Stay and the Applications of the Debtor to sell two of the six office buildings comprising Terrace Gardens Office Park. EPF holds an uncontested first lien on the office park to secure an original construction loan of $2,200,000, and filed objections to both applications to sell...

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