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Trump investor says she was aware of change clause in condo pact

May 18, 2013 at 11:50 AM   |   Comments

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CHICAGO, May 18 (UPI) -- An elderly investor said in court she was blindsided when Donald Trump's real estate company cut her off from revenues from her Chicago condominium building.

Jacquelin Goldberg, 87, testified in federal court Friday she was aware of a clause in her purchase contract allowing Trump to make changes in the terms, but did not think it would be used to unilaterally cut her off from her share of revenues from the rental of the building's meeting facilities and ballroom.

Goldberg said she had bought two condos in Trump International Hotel and Tower as rentals in 2006, her decision based in part on an expectation anticipated revenues would offset some of the purchase price.

"I would have stepped in rather than jumped in, but I was particularly intrigued," Goldberg, a former financial planner and real estate investor, testified.

The Chicago Tribune said Goldberg knew about the clause in the purchase contract but believed it would only be used in dire circumstances, such as a change in the city building code or a construction problem.

Trump is not named in the suit. He testified earlier in the proceedings the contract gave his firm the authority to make changes to any section of the agreement.

Topics: Donald Trump
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