Lemans Associates Ltd. Partnership v. Lemans Apartments

Fletcher, Presiding Justice.

Lemans Associates Limited Partnership (“the partnership”) purchased an apartment complex in Augusta from Lemans Apartments (“Lemans”). The partnership appeals from an order appointing a temporary receiver of the property. Because Lemans was authorized under its note and security agreement to seek a receiver and because the trial court did not abuse its discretion in appointing one, we affirm.

1. The partnership contends that Lemans was not authorized to seek a receiver. The note held by Lemans, however, specifically provides that it is to be paid from surplus cash…