HomeMy WebLinkAbout2078 a.~
Ologistics) for the construction of a condominium project
known as Catamaran II on Hutchinson Island in St. Lucie County,-
Florida. Ologistics, the general contractor, obtained a loan
from Plaintiff in the amount of $150,000. As security for said
loan, Ologistics, Robert C. Amann and Marie A. Amann, his wife,
executed promissory notes to Plaintiff in the amount of $150,000,
and delivered the so-called "tri-party agreement" to Plaintiff.
This "tri-party agreement" was executed by Plaintiff, Ologistics
and HILP, and constituted an assignment of all of the construction
draws on this project to Plaintiff. No consideration was given
by Plaintiff to HILP for this agreement. This agreement provided
that all progress payment checks under the construction contract
would be payable jointly to Ologistics and Plaintiff. F1ork pro-
ceeded under the construction contract and progress payments were
made. Then, on March 1, 1978, HILP issued its progress payment
.check in the amount of $233,068, payable jointly to Ologistics
and Plaintiff. This check was delivered personally by Mr.
Conners, an employee of HILP, to Robert C. Amann at approximately
4:00 P.M, on March 1, 1978. Mr. Conners told Mr. Amann that he
would have to transfer funds from a savings and loan association
to Sun Bank before the check would clear. At approximately 9:00
A.M. on March 2, 1978, Mr. Conners telephoned the savings and loan
association to transfer funds to Sun Bank. These funds were then
transferred to Sun Bank. At approximately 10:30 A.M. on the same
date, Mr. Conners received a telephone call from Roger Charles,
~ an employee of Deerfield Construction Corp. (hereinafter referred
to as Deerfield), advising that the waiver lien which Deerfield
had signed for Draw No. 12 was no good, since Deerfield had not
~ received the approximate $38,000 which should have been received
G
Y.
E
by it, and that Deerfield was owed a lien on this project of
$100,000. Mr. Conners of HILP telephoned Sun Bank at approxi-
mately 11:00 A.M. on the same date and requested that the check
in the amount of $233,068 not be cleared by Sun Bank until Sun
Bank checked with Mr. Conners. Mr. Conners was advised by Sun
Bank that it would have to have a written request before a stop
payment could be issued. At approximately 11:30 A.M. on March 2,
-2- A Ann
oRnR~/~ e~r?c /1 17~