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LUMMUS &c. CO. v. FIDELITY &c. ASSN.

53448.

141 Ga. App. 831 (1977)

234 S.E.2d 671

LUMMUS SUPPLY COMPANY v. FIDELITY FEDERAL SAVINGS & LOAN ASSOCIATION.

Court of Appeals of Georgia.

Decided April 5, 1977.

Attorney(s) appearing for the Case

Shoob, McLain, Merritt & Lyle, Christopher D. Olmstead, for appellant.

Smith, Cohen, Ringel, Kohler & Martin, Ralph H. Hicks, Kenneth L. Millwood, for appellee.

MARSHALL, Judge.

Appellee (Fidelity) contracted with a construction company (Sewanee, a corporation) on March 13, 1974, to finance the construction of six houses, to be completed within six months. Sewanee executed six promissory notes payable to Fidelity totaling $117,080, which sum was deposited in a construction loan account with Fidelity. Six written agreements between Fidelity and Sewanee provided for five withdrawals of this sum in accordance with a construction...

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