In Re Aloma Square, Inc.

MEMORANDUM OPINION

GEORGE L. PROCTOR, Bankruptcy Judge.

This case is before the Court upon California Federal Savings & Loan Association’s (“Cal Fed”) Motion for Sequestration of Rents and Profits and Motion to Prohibit Use of Cash Collateral. A hearing on the motions was held January 21, 1988, and upon the evidence presented, the court finds in favor of Movant.

FACTS

The debtor owns a retail shopping center on which Cal Fed holds a mortgage. The mortgage contains an assignment of rent clause which grants Cal Fed a security interest in all rents, profits, revenues, etc. derived from the property.…