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sold the Burlington property to the Janases, Leaders would not
collect a commission.
On July 31, 1989, the Superior Court entered its Judgment of
Foreclosure By Sale After Opening of Original Judgment, in favor
of United Bank & Trust Co.8 The Burlington property was to be
sold at public auction on September 30, 1989, unless the amount
due on the mortgage debt, plus interest and costs, was paid. On
or about September 13, 1989, Mr. Carey received $32,500 from
petitioners. On September 18, 1989, Mr. Carey paid United Bank
and Trust Co. $32,376.89, thus forestalling the foreclosure sale.
Mr. Carey's law firm was paid $123.11 with respect to the
satisfaction of this mortgage.
On September 21, 1989, First Performance Mortgage Corp. sent
a notice rejecting Mr. Bowers' application for a mortgage on the
Burlington property. Petitioners had had an indication by late
August that there were problems with the application and that the
mortgage would not be granted. As will be discussed later,
petitioners, on October 1, 1989, signed a contract to purchase
the Jacksonville Golf and Country Club house.
After the second listing contract expired on September 28,
1989, petitioners advertised the Burlington property as for sale
by owner. One such advertisement, placed in the Hartford Courant
8 The parties in this action had appeared in Superior Court
on Nov. 25, 1980, Jan. 11, 1984, and Jan. 30, 1989. The original
judgment referred to is that of Jan. 11, 1984, for strict
foreclosure.
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