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TIFTON CORPORATION v. DECATUR FEDERAL SAVINGS & LOAN ASSOCIATION

51290.

136 Ga. App. 710 (1975)

222 S.E.2d 115

TIFTON CORPORATION et al. v. DECATUR FEDERAL SAVINGS & LOAN ASSOCIATION.

Court of Appeals of Georgia.

Decided November 7, 1975.

Rehearing Denied November 24, 1975.

Attorney(s) appearing for the Case

Kilpatrick, Cody, Rogers, McClatchey & Regenstein, Matthew H. Patton, Timothy P. Terrell, for appellants.

McCurdy & Candler, George H. Carley, for appellee.

EVANS, Judge.

Tifton Corporation executed and delivered to Decatur Federal Savings & Loan Association a loan deed and note for $376,000 for the construction of an apartment project in Buford, Georgia. Later Tifton and Alton K. Bruce executed a loan deed and note to Decatur Federal for the permanent financing of the apartments in the sum of $393,000. The first loan deed and note were not canceled.

The loan became in default and Decatur Federal exercised...

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