Fox v. Bohemian Savings & Loan Ass'n

GAERTNER, Presiding Judge.

In 1963 Plaintiffs purchased a parcel of real estate containing ten rental apartments and three commercial units. The purchase price of $75,000 was paid $12,000 in cash, a note in the amount of $60,000 secured by a first deed of trust, and a note in the amount of $3,000 secured by a second deed of trust. Defendant, the holder of the first deed of trust, in April, 1971 notified plaintiffs it was exercising its option under the deed of trust to take over possession and management of the property, payments on the note then being two months, approximately $1,280, in…