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STONERIDGE PARKWAY v. MW HOUSING PARTNERS

No. C052082.

64 Cal.Rptr.3d 61 (2007)

153 Cal.App.4th 1373

STONERIDGE PARKWAY PARTNERS, Plaintiff and Appellant, v. MW HOUSING PARTNERS III et al., Defendants and Respondents.

Court of Appeal of California, Third District.

August 3, 2007.

Attorney(s) appearing for the Case

Wagner Kirkman Blaine Klomparens & Youmans, Douglas E. Kirkman, Roy R. Girard, Mather, and Colin S. Grahl for Plaintiff and Appellant.

McDonough Holland & Allen and Michael T. Fogarty, Sacramento, for Defendants and Respondents.

NICHOLSON, J.

A real property developer and borrower of money sued its lender, claiming the interest charged on the secured loan was usurious. The trial court awarded summary judgment to the lender, ruling the loan was exempt from the constitutional usury prohibition because it was negotiated and arranged by a licensed real estate broker. The developer argues the secured loan was not exempt because the broker was in effect the lender and was negotiating on its own...

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