In Re Fairview-Takoma Ltd. Partnership

MEMORANDUM OF DECISION

DUNCAN W. KEIR, Bankruptcy Judge.

Fairview-Takoma Limited Partnership (“Fairview”) is the owner of an apartment complex located in Takoma Park, Maryland (the “Property”). Fairview is the obligor under certain promissory notes, including a Deed of Trust Note dated February 20,1986, in the original principal amount of $6,500,000 (the “Original Note”), a Supplemental Deed of Trust Note dated October 22, 1986 in the original principal amount of $1,000,000 (the “Supplemental Note”), and a Modification and Consolidation of Deed of Trust Notes dated October 22, 1986 (the…