LAGUNA NIGUEL
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Some residents of the Crown Cove condominium complex, which was heavily damaged by El Nino-driven rains last year, will stay in their homes for the time being, officials said.
The developers who agreed to purchase the property for about $10 million to settle a construction lawsuit were unable to meet a Dec. 31 deadline to close escrow because two insurance carriers backed out of the deal, according to city officials.
The insurance carriers were instructed by a judge to keep their end of the deal or appear in court to explain why the deal hasn’t been closed.
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