GAMMA DEVELOPMENT CORPORATION, a Florida corporation, Appellant, v. AMERICAN PIONEER SAVINGS BANK, f/k/a First Fidelity Savings and Loan Association, successor by merger with First Federal Savings and Loan Association of Martin County, a Florida corporation, Appellee.
No. 88-1645.
District Court of Appeal of Florida, Fourth District.
Nov. 1, 1989.
Rehearing and Rehearing En Banc Denied Jan. 10, 1990.
Robert A. Eisen and Cheryl R. Eisen of Law Offices of Robert A. Eisen, P.A., Boca Raton, for appellant.
Mark Wilensky of Levy Kneen, Boyes, Wiener, Goldstein & Kornfeld, West Palm Beach, James E. Alderman of Swann and Haddock, P.A., Fort Pierce, and Robert P. Summers of Kohl Bobko & McKey, P.A., Stuart, for appellee.
PER CURIAM.
The final judgment is affirmed. The trial court did not err by concluding that the American mortgage was superior in priority to the Gamma mortgage. Cf. Southern Floridabank Federal Savings and Loan Association v. Buscemi, 529 So.2d 303 (Fla. 4th DCA 1988). Additionally, upon a review of the record, we cannot say that it was an abuse of discretion for the court to find that the value of the mortgaged property and the proceeds from its sale were less than the amount that Gamma would have been required to tender if it had exercised its right of redemption. We do not address the now mooted alternative finding by the trial court that Gamma had lost or abandoned its right of redemption.
DOWNEY, DELL and STONE, JJ., concur.