Bybee

Plaintiff appeals from judgment entered following the trial court’s grant of defendants’ motion for summary judgment in plaintiff’s action to quiet title to real property and for declaratory and injunctive relief. On appeal plaintiff contends that there are disputed issues of material fact with regard to enforcement of an agreement entered into between plaintiff and a third party under which plaintiff had agreed to subordinate its trust deed to that of defendants, and that the trial court therefore erred in granting the motion for summary judgment.

Facts

In July 1987 plaintiff Protective Equity Trust #83, Ltd. (hereinafter seller) was the owner of the real property which is the subject of this dispute. Seller agreed to sell the property to Adams Development Corporation (hereinafter buyer) for $210,000. Under the escrow instructions prepared by Rialto Escrow Company and dated July 30,1987, seller was to be paid $40,000 and was to carry back a purchase money trust deed in the amount of $170,000.

In addition to those provisions the escrow instructions provided: “Buyer to obtain a new development loan and a new construction loan from a financial institution for an amount…