![]() The third amended complaint consisted of four causes of action. His complaint was subsequently superseded by his third amended complaint. Thereafter and within one year from the date of said sale the plaintiff commenced this action. Immediately after the sale, the Pacific States Savings & Loan Company conveyed the property to the defendant. Although this property was bid in by the Pacific States Savings & Loan Company, it is conceded that the property was bought for defendant. Proceedings were instituted to foreclose said trust deed and these proceedings resulted in a sale of the real property covered by the trust deed to the Pacific States Savings & Loan Company acting for the defendant for the sum of $150,000. ![]() The plaintiff was then unable to pay said note or the amounts advanced thereon. According to the terms of this promissory note it matured at the end of one year. Flint during said year for the purpose of paying construction costs, and which was actually used for that purpose, and the item of $120.09, insurance on said building. This item according to the findings of the court was made up as follows: $122,804.03, advanced by defendant to plaintiff, or on his orders, during said year $11,471.99, advanced by defendant to R. The defendant had advanced for the use of plaintiff on said promissory note from time to time during said year the sum of $134,396.11, which had been used in payment of the cost of constructing said building. ![]() The process of construction continued for a period of one year and at the end of the year the building was uncompleted. Upon the execution and delivery of his note and trust deed, and the recordation of the latter instrument, the plaintiff began the construction of said apartment house upon said lots. This trust deed covered the two Jackson Street lots owned by the plaintiff. Harper were named as trustees in said trust deed and the defendant was named as the beneficiary. At the same time and as a part of the same transaction, the plaintiff executed and delivered a trust deed to secure the payment of said promissory note. Accordingly a promissory note in that amount payable one year after date with interest at seven per cent per annum payable monthly in advance was executed and delivered by plaintiff to defendant. His application for a loan of $150,000 was approved, the proceeds to be used in the erection of said building. He planned to erect thereon a class A apartment house and applied to the defendant for a loan to finance the erection of said building. ![]() Plaintiff was the owner of two adjoining lots in the city of San Francisco, situated on Jackson Street, near Buchanan. The plaintiff has appealed from said judgment and claims that it is inadequate and should include the sum of $6,693.98, in addition to the sum of $38,909.91, the amount found due plaintiff by the trial court. Said defendant has appealed from said judgment on the ground hereinafter more fully referred to and discussed, and claims that the same is erroneous in its entirety. The judgment rendered was in favor of the plaintiff and against the defendant West American Finance Company, and is for the sum of $38,909.91, besides costs and interest. These two appeals are taken from the same judgment. WEST AMERICAN FINANCE COMPANY (a Corporation), Defendant and Appellant.īronte M. ![]()
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