Arundel Federal Savings & Loan Ass'n v. Lawrence

WILNER, Judge.

The dispute now before us is over the proceeds from a mortgage foreclosure sale. The disputants are Arundel Federal Savings and Loan Association, appellant, which held the mortgage, and Chester and Elaine Lawrence, appellees, who were contract purchasers of the mortgaged property.

On July 12, 1983, appellees entered into a contract to purchase from E. Black & Sons, Inc. (Black) 1 a certain lot in the Chartwell on the Severn community, the lot “to be improved by the erection and completion of a single family dwelling to be built in substantial conformance with the plans and…