Task: Create a template page that shows 5 custom posts from each custom taxonomy term.
custom post-type: fabrics
custom taxonomy: fabric-category
terms under custom taxonomy include: 'basic', 'novelty', 'holiday', etc.
After several days of searching and hair-pulling I came up with the following solution. If any WordPress experts out there can think of a better solution that either uses less code or is faster performance-wise, I and others like me will be much appreciative.