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LIBERTY NAT. BANK & TRUST CO. v. KAIBAB INDUSTRIES

No. 49017.

591 P.2d 692 (1978)

The LIBERTY NATIONAL BANK & TRUST COMPANY OF OKLAHOMA CITY, Appellee, v. KAIBAB INDUSTRIES, INC., the Flintkote Supply Co., More Insulation & Supply, Inc., Turner Roofing & Sheet Metal Co., Inc., General Electric Company, Air Comforts, Inc., Samuel E. Brown, d/b/a Brown Plumbing Company, W & W Painting & Drywall, Inc., Stanley R. Meuller, and Ed Herbert d/b/a Adventurer Manufacturing Co., Appellants.

Supreme Court of Oklahoma.

Rehearing Denied March 19, 1979.

Attorney(s) appearing for the Case

Thomas A. Wallace, Val R. Miller, Crowe, Dunlevy, Thweatt, Swinford, Johnson & Burdick, Oklahoma City, for appellee.

William R. Grimm, Barrow, Gaddis & Griffith, Tulsa, for appellants, Flintkote Supply Co., Kaibab Industries, Inc.

Robert F. Bourk, Oklahoma City, for appellant, Flintkote Supply Co.

J. Charles Shelton, Groves, Black & Shelton, Tulsa, for appellant, Turner Roofing & Sheet Metal Co.

Paul F. McTighe, Jr., Tulsa, for appellant, Air Comforts, Inc. and Samuel E. Brown.

C. Max Speegal, Service & Speegal, Edmond, for appellant, Ed Herbert d/b/a Adventurer Mfg. Co.

I.E. Chenoweth, Tulsa, for appellant, More Insulation and Supply Co., Inc.

Richard Bailey, McClelland, Collins, Sheehan, Bailey, Bailey & Belt, Oklahoma City, for appellant, General Electric Co.

Charles C. Dunn, Tulsa, for appellant, W & W Painting & Drywall, Inc. and Stanley R. Meuller.

LAVENDER, Vice Chief Justice:

The Liberty National Bank & Trust Company of Oklahoma City (lender) was the interim construction lender on an apartment complex at Sapulpa, Oklahoma. Principal documentation consisted of promissory note, real estate mortgage covering the project, and a loan agreement. Lender sought to foreclose its mortgage lien. Trial court entered judgment determining lender's mortgage lien to be superior...

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