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DIPLOMAT PROPERTIES, L.P. v. KOMAR FIVE ASSOCIATES, LLC

1454, 1455, 1456, 603603/07

72 A.D.3d 596 (2010)

899 N.Y.S.2d 237

DIPLOMAT PROPERTIES, L.P., Respondent, v. KOMAR FIVE ASSOCIATES, LLC, Appellant, et al., Defendant.

Appellate Division of the Supreme Court of New York, First Department.

Decided April 29, 2010.

On May 3, 2007, plaintiff and defendant Komar Five Associates, LLC executed an agreement for the purchase and sale of the Diplomat Hotel and Convention Center and related facilities in Hollywood and Hallandale Beach, Florida, for $690 million. Upon execution of the purchase and sale agreement (the contract), defendant delivered a $20 million deposit to defendant escrow agent, First American Title Insurance Company. The contract provided that the closing would occur on August...

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