PERCY GALBREATH & SON, INC. v. WATKINS


560 S.W.2d 239 (1977)

PERCY GALBREATH & SON, INC., Appellant, v. Charles A. WATKINS and Elleanor J. Watkins, his wife, Charles A. Watkins, Carlos Marberry, Jerry Adams, Kenneth Watkins, Gary Cain and Bill McKnight, d/b/a Watkins Investments, a general partnership, and Watkins Investments, Kenneth and Austin Wise, d/b/a W & W Construction Company, W. H. Carter and Harold Carter, d/b/a Carter's Bulldozer Services, Modern Welding Company, Inc., Southern Fence & Landscaping Company, Central Concrete, Inc., West State Steel Co., Inc., Tri-State Construction Company, Lowe's of Elizabethtown, Inc., A. C. Miller, Jack C. Dodson, Inc., Climate Control of E'Town, Inc., Burnett's, Inc., the Jenkins-Essex Co., Inc., Odis Bell, d/b/a General Woodworking Company, Charles White Company, Inc., Howard W. Pence, Inc., Bill Wheeler, d/b/a Bill Wheeler Painting & Drywall Company, James Matthews, d/b/a E'Town Glass Company, Bob Reeves, d/b/a Bob's Sign Service, Commonwealth of Kentucky, Department of Human Resources ex rel. Division of Unemployment Insurance, Tractor Supply Company, Appellees.

Court of Appeals of Kentucky.

December 23, 1977.


Attorney(s) appearing for the Case

John L. Arnett, Collier, Arnett, Coleman & Cooper, Elizabethtown, for appellant.

D. Michael Coyle, Huddleston, VanZant & Coyle, Elizabethtown, Warning Order Atty., for Charles A. Watkins and Elleanor J. Watkins, his wife, Charles A. Watkins, Carlos Marberry, Jerry Adams, Kenneth Watkins, Gary Cain and Bill McKnight, d/b/a Watkins Investments, a General Partnership, and Watkins Investments.

Dwight Preston, Lewis, Bland & Preston, Elizabethtown, for Kenneth and Austin Wise, d/b/a W & W Const. Co., W. H. Carter and Harold Carter d/b/a Carter's Bulldozer Services, Central Concrete, Inc., Jack C. Dodson, Inc., Burnett's Inc.

Jesse T. Mountjoy, Sandidge, Holbrook & Craig, Owensboro, for Modern Welding Company, Inc.

W. Currie Milliken, Milliken & Milliken, Bowling Green, for Southern Fence & Landscaping Co.

E. P. Barlow Ropp, Travis, Ropp & Davis, Glasgow, for West State Steel Co., Inc.

Keith M. Carwell, English, Lucas, Priest & Owsley, Bowling Green, for Tri-State Const. Co.

James L. Pate, Jr., Pate, Richardson & Bailey, Elizabethtown, for Lowe's of Elizabethtown, Inc., A. C. Miller, The Jenkins-Essex Co., Inc., Odis Bell, d/b/a General Woodworking Co.

D. Michael Coyle, Huddleston, VanZant & Coyle, Elizabethtown, for Climate Control of E'Town, Inc., James Matthews, d/b/a E'Town Glass Co.

Richardson, Barrickman & Dickinson, Glasgow, for Charles White Company, Inc.

Pate, Richardson & Bailey, Elizabethtown, for Howard W. Pence, Inc.

John J. Scott, Bondurant, Whitlow, Scott & O'Dell, Elizabethtown, for Bob Reeves, d/b/a Bob's Sign Service.

Robert H. Kennedy, Frankfort, for Commonwealth of Kentucky Dept. of Human Resources ex rel. Division of Unemployment Insurance.

Karl H. Crandall, Bowling Green, for Tractor Supply Co.

Before GANT, VANCE and WILHOIT, JJ.


GANT, Judge.

Watkins Investments, a limited partnership, executed a promissory note and securing mortgage to the appellant, this being a construction loan. The terms of the note provided for payment of interest only from September 1, 1974, to February 1, 1975, for installment payments from March 1, 1975, to January 1, 1977, and payment of the unpaid principal and any accrued interest on February 1, 1977. Additionally, a construction loan agreement was executed between...

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