STONEBRIDGE ASSOCIATES, LTD., APPELLANT,
v.
CITY NATIONAL BANK OF MIAMI, AS TRUSTEE UNDER TRUST NO. 5004373, APPELLEE
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PER CURIAM.
Stonebridge Associates, Ltd., appeals a non-final order appointing a receiver to take control of its rental property and fixing the amount of the receiver’s bond at $5,000.
We find no fault with the appointment of the receiver under the existing circumstances reflected by the record, but do find the amount of the receiver’s bond to be inadequate. The subject property consists of 193 rental units with a potential annual rental of over one million dollars. The authority and responsibility of the receiver in this case is such that a bond of $5,000 is simply inadequate.
Accordingly, the order appealed from is affirmed except as to the amount of the receiver’s bond. On remand the trial court is directed to reconsider and determine an appropriate amount for the receiver’s bond in this case.
HERSEY, C.J., and DOWNEY and POLEN, JJ., concur.
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Williams v. Brown, 622 So. 2d 194 (Fla. 4th DCA 1993)…iver for this 24 unit rental apartment building was improper and that the $2,000.00 receiver’s bond was too low. We affirm the appointment of a receiver but conclude that the bond was inadequate. Stonebridge Assocs. Ltd. v. City Nat’l Bank of Miami, 573 So. 2d 211 (Fla. 4th DCA 1991). We therefore reverse [*195] solely for the trial court to set an appropriate receiver’s bond. GLICKSTEIN, FARMER and KLEIN, JJ., concur.…