KNIGHT v. FIRST FEDERAL &c. ASSN.

57667.

151 Ga. App. 447 (1979)

260 S.E.2d 511

KNIGHT v. FIRST FEDERAL SAVINGS & LOAN ASSOCIATION, SAVANNAH.

Court of Appeals of Georgia.

Decided September 5, 1979.

Rehearing Denied September 24, 1979.


Attorney(s) appearing for the Case

Thompson & Benken, Louis A. Thompson, David H. Dickey, for appellant.

Adams, Adams, Brennan & Gardner, Edward T. Brennan, for appellee.


CARLEY, Judge.

On June 21, 1966, Knight executed in favor of First Federal a "Security Deed Note" evidencing a loan made for the purpose of consolidating Knight's indebtedness to First Federal in the principal amount of $1,410,730.92 bearing interest at the rate of 6-3/4% a year. The note was payable in monthly installments of $12,527 over a period of fifteen years with the final payment being due on June 21, 1981. Subsequently Knight, a contractor, needed more money...

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