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SECURITY BANK v. CHIAPUZIO

85-712; CA A36872.

733 P.2d 80 (1987)

84 Or.App. 35

SECURITY BANK, an Oregon Banking Corporation, Respondent, v. Robert CHIAPUZIO, Individually and As Trustee of Robert Chiapuzio, M.D., P.C., Defined Benefit Pension Plan and Trust, Appellant, and Henry K. Bunnell and Kandice Bunnell, Husband and Wife, Defendants.

Court of Appeals of Oregon.

Decided February 25, 1987.

Attorney(s) appearing for the Case

John H. Draneas, Portland, argued the cause for appellant. With him on the briefs were David W. Wensel and John H. Draneas & Assoc., P.C., Portland.

Martin E. Stone, Coquille, argued the cause for respondent. With him on the brief was Slack, Stone and Gillespie, Coquille.

Before BUTTLER, P.J., and WARREN and ROSSMAN, JJ.

BUTTLER, Presiding Judge.

Plaintiff brought this action on a promissory note and to foreclose its security interest in a vendor's interest under a land sale contract, which had been assigned to it in 1982 by defendant Henry Bunnell, the original vendor, to secure payment of the note, which he had co-signed. Defendant Chiapuzio (defendant) purchased the encumbered vendor's interest from Bunnell in 1984 and claims to own that interest free and clear of plaintiff's security...

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