ANDERSON, Circuit Judge:
This litigation concerns a $10.6 million loan that the Board of Trustees of the Policemen and Firemen Retirement System of the City of Detroit (hereinafter the "Pension Fund") made to Hibiscus Associates, Ltd. (hereinafter "HAL") on December 9, 1985, for development of the Oaks Shopping Center in Melbourne, Florida. A dispute arose between the parties in this case over whether HAL and the Guarantors of the loan (Hibiscus Development, Inc....
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