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former employee of AMI, testified: “I think the initial
disbursement on the $2.7 million loan was right at $1 million.”
There is no evidence what disbursements remained outstanding as
of December 31, 1986, or at any other particular time. Guerino
testified that “all monies to be paid on that loan would be
received as [Gulf Highlands town house] units were sold.” The
record does not indicate when town house units were sold or for
what amounts. Nor does the record indicate that any outstanding
balance was due on the AMI construction loan when AMI stopped
funding the line of credit at some unspecified date, presumably
before June 30, 1987, when Towers Development secured a new
construction line of credit with First Federal.17 Consequently,
not only does the record fail to establish the outstanding
balance of the line of credit during 1986, 1987, or 1988; the
record does not even establish that the AMI line of credit
remained in force after June 30, 1987.
The burden of proof is on petitioners. See Rule 142(a).
We cannot assume that the many gaps in the evidence support
inferences favorable to petitioners; to the contrary, the usual
inference is that the missing evidence would be adverse. See
17 The record indicates that AMI’s security interest in the
Imperial Pines property–-which served as collateral for the Oct.
16, 1985, $1 million extension on the original $2.7 million line
of credit–-was released at some unspecified date, from which we
infer that the $1 million loan extension was in fact repaid.
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