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ORLANDO HYATT ASSOC. LTD. v. F.D.I.C.

Nos. 93-165, 93-443.

629 So.2d 975 (1993)

ORLANDO HYATT ASSOCIATES, LTD, Appellant, v. FEDERAL DEPOSIT INSURANCE CORPORATION, as Receiver for Dollar Dry Dock Bank f/k/a Dollar Dry Dock Savings Bank, et al., Appellee.

District Court of Appeal of Florida, Fifth District.

December 23, 1993.

Attorney(s) appearing for the Case

Richard J. Ovelmen, Gary M. Carman, and Gayle E. Miller, of Baker & McKenzie, Miami, for appellant.

Gregg W. McClosky and George L. Sigalos, of Mattlin & McClosky, Boca Raton, for appellee.

HARRIS, Chief Judge.

The issue in this case is whether the court erred in permitting the mortgagee to apply the income from the mortgaged premises against its debt during the foreclosure proceedings.1

Appellant, Orlando Hyatt Associates, Ltd. ("Orlando Hyatt"), borrowed $35,000,000 from Dollar Dry Dock Savings Bank ("Dollar"). The loan was secured by a second mortgage on a hotel located in Kissimmee, Florida known as the Orlando...

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