[DOWNLOAD] "Merchandise Natl Bk. of Chicago v. Scanlon" by Illinois Appellate Court — First District (2Nd Division) Judgment Affirmed " Book PDF Kindle ePub Free

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eBook details

• Title: Merchandise Natl Bk. of Chicago v. Scanlon
• Author : Illinois Appellate Court — First District (2Nd Division) Judgment Affirmed
• Release Date : January 08, 1980
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 80 KB

Description

Page 797 This case comprises two appeals from the Circuit Court of Will County. Case No. 80-672 is an interlocutory appeal brought by the defendants from a November 25, 1980, order of the circuit court of Will County naming plaintiff Home Savings and Loan Association of Joliet (Home) receiver of the principal, interest, and other amounts due and owing mortgagee defendant Samuel T. Isaac and his corporation, Samuel T. Isaac and Association, Inc. (STI), under a 40-year note and mortgage securing plaintiffs $6.6 million construction loan for the Salem Village III housing project in Joliet, and enjoining STI and Isaac from exercising any right or claim they may have in the note and mortgage. Case No. 81-126 is an appeal by defendants from an adverse summary judgment entered on February 20, 1981. As a result of the entry of summary judgment, constructive and resulting trusts were impressed upon the loan instruments held by defendants, these instruments were reformed to name plaintiffs as the parties in interest, and Isaac and STI were directed to execute to plaintiffs an assignment of all rights, title and interest defendants had in the loan documents. Home was also relieved of its duties as receiver.

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