Enterprise Properties Inc. v. Hills Development Corp.

MEMORANDUM OPINION AND JUDGMENT

This action concerns a promissory note and purchase money mortgage delivered to defendants by plaintiff as partial consideration for the purchase of certain real property located in Estate LaGrange and Prederikshaab, West End Quarter, St. Croix. The principal controversy relates to provisions in the mortgage indenture and a subsequent modification thereof under which plaintiff is entitled to obtain partial releases from the lien of the mortgage upon making payments against the principal of the mortgage debt. In December of 1972, plaintiff delivered to defendants…