Irving Lumber Company v. Alltex Mortgage Company

ON MOTION FOR REHEARING

In its Amended Motion for Rehearing appellant says that we were mistaken when we said in our original opinion “* * * at the time of the inception of Alltex’s deed of trust liens the property consisted of four vacant lots.” On rehearing appellant for the first time takes the position that on July 8, 1964 when Alltex advanced money to Merit Homes, Inc., the foundations had already been laid for the four houses, the plumbing had already been roughed in and the improvements had already passed the first FHA inspection. Therefore, according to appellant, Alltex had…