THFN Realty Co. v. Kirkman/Conroy Ltd.

COWART, Judge.

Appellant, THFN Realty Co., as mortgagor, defaulted on a mortgage by not properly paying the 1986 property taxes. The mortgage provided for acceleration upon default and also provided that:

The indebtedness secured hereby shall bear interest at the highest lawful rate of interest per annum allowed by the law of the State of Florida from and after the date of any such default of Mortgagor. (Emphasis added.)

In a partial summary judgment of foreclosure, the trial court calculated interest at the default rate from the date of the default resulting from failing to pay the 1986…