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COMET DEVELOPMENT CORP. v. PRUDENTIAL INS. CO. OF AM.

No. 90-490.

579 So.2d 355 (1991)

COMET DEVELOPMENT CORP., Appellant, v. PRUDENTIAL INSURANCE CO. OF AMERICA, Appellee.

District Court of Appeal of Florida, Third District.

May 14, 1991.

Attorney(s) appearing for the Case

Kluger, Peretz, Kaplan & Berlin, and Howard D. DuBosar, Miami, for appellant.

Squire, Sanders & Dempsey, and Eben G. Crawford and Suzanne H. Youmans, Miami, for appellee.

Before FERGUSON, GERSTEN and GODERICH, JJ.

GERSTEN, Judge.

Appellant, Comet Development Corp., appeals a final summary judgment. We affirm.

A construction mortgage is usually obtained for the purpose of financing construction. In a construction mortgage, the mortgagee retains the proceeds of the mortgage and assumes the duty to pay for materials and supplies for work done. Security and Investment Corporation of The Palm Beaches v. Droege, 529 So.2d 799 (Fla...

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