In Re Park at Dash Point

985 F.2d 1008 In re PARK AT DASH POINT, L.P., a Washington limited partnership, Debtor. Robert D. STEINBERG, in his capacity as Trustee for the bankrupt estate of Park at Dash Point, L.P., Appellant, v. CROSSLAND MORTGAGE CORPORATION, Appellee. No. 91-35869. United States Court of Appeals, Ninth Circuit. Argued and Submitted Dec. 11, 1992. Decided Feb. 5, 1993. Timothy W. Dore, Ryan, Swanson & Cleveland, Seattle, WA, for appellant. Shawn Otorowski, Ferguson & Burdell, Seattle, WA, for appellee. Appeal from the United States District Court for the Western District of Washington. Before: WALLACE, Chief Judge, SKOPIL, and LEAVY, Circuit Judges. LEAVY, Circuit Judge: 1 The trustee for a Chapter 7 debtor in bankruptcy appeals from the district court's order upholding the bankruptcy court's determination that a mortgagee and assignee of rents had a perfected security interest in those rents and was entitled to enforce its assignment thereof by sequestering the money as cash collateral of the bankruptcy estate. We reject the trustee's arguments and affirm. FACTS AND PRIOR PROCEEDINGS 1 2 In August 1987 Crossland Mortgage Corporation ("Crossland") lent $10,850,000 to Park at Dash…