Diversified Capital Corp. v. City of North Las Vegas

OPINION

By the Court, Manoukian, J.:

Diversified, a trustor, commenced this action in August 1973, seeking to permanently enjoin respondents’ exercise of a power of sale in a deed of trust. Asserting that Diversified was in default in payment of certain assessments secured by the deed of trust, City, the beneficiary, counterclaimed for declaratory relief and damages. Diversified was granted a preliminary injunction but permanent relief was ultimately denied. Thereafter, Diversified appealed.

On appeal, Diversified argued that by unilaterally imposing a moratorium on project expenditures, the…