United California Bank v. Prudential Insurance Co. of America

TABLE OF CONTENTS

page

I. Introduction 246

II. Facts 246

A. The Background of the Hotel 246

B. The Loan Transaction 247

C. The Trial Court Proceedings 252

Phase I 252

Phase II 255

Phase III 255

Phase IV 255

D. The Appeal 255

III. Prudential’s Claim to an In-Fact First Lien 256

A. Introductory Statement 256

B. The Loan Application and the Commitment Letter: Incorporation or Not 257

C. Partial Summary Judgment or Trial on the Merits: Both 261

D. The Phase I Trial 262

The Five-Party Agreement 266

The Deed of Trust and Other Collateral Loan Documents 268

Modern Mortgage Law and Practice 270

Conclusion 272

E. Ejusdem…