Supreme Court of Missouri July 24, 1978, 59858 (Westinghouse Electric Co. v. Vann Realty Co.)

PINCH, Judge.

On May 21,1973, Applewood at the Coves Corporation (Applewood) purchased land on which to construct multi-unit apartment buildings. Concurrently, it executed a first deed of trust to a trustee for a firm later known as Banco Mortgage Company (Ban-co) to secure a loan evidenced by a note for $2,150,000.