DATE: 20040420

DOCKET: C39068

COURT OF APPEAL FOR ONTARIO

RE: BARDE HOMES LTD. (Appellant) v. PAMELA SASSO (Respondent)

BEFORE: McMURTRY C.J.O., ABELLA AND ROSENBERG JJ.A.

COUNSEL:

James K. Ball for the appellant

Massimo Rovazzi for the respondent

HEARD & ENDORSED: April 20, 2004

On appeal from the judgment of Justice Terrence L. J. Patterson dated October 8, 2002.

A P P E A L B O O K E N D O R S E M E N T

[1] We see no basis for interfering with the conclusion reached by the applications judge, namely, that the effect of the additional provision was to make interest for the one year payable from the date of the registration of the mortgage, notwithstanding that the full funds were not advanced.

[2] Moreover, there was no language in the mortgage that limited the use of the funds to finance an improvement on the land, as argued by the appellant.

[3] The appeal is dismissed with costs fixed in the amount of $5,500.