Padgett v. First Federal Savings & Loan Ass'n of Lake Worth

DOWNEY, Judge.

This appeal involves the propriety of the dismissal of appellants’ two count second amended complaint seeking (a) recovery of principal and interest payments made on a mortgage loan because of alleged usury, and (b) damages for fraud and misrepresentation relative to the same mortgage loan.

Count I alleged that in December 1968, appellants delivered to appellee their promissory note in the amount of $515,000, with interest at 7%%. Said note was secured by a mortgage. During the years 1969, 1970, and 1971, appellants paid appellee, and appellee knowingly and wrongfully demanded…