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CONTINENTAL BANK & TRUST CO. v. AMERICAN BONDING

No. 80-1127.

630 F.2d 606 (1980)

CONTINENTAL BANK & TRUST CO., as Trustee for the Lot Purchasers, and Calwood Leisure Assn., Inc., Donald L. Owens, Harold D. Barnhard, and Maurice Stack, Appellees, v. AMERICAN BONDING COMPANY, Appellant, v. Richard D. WALKER, John W. Markham, Systems Leisure Properties, Inc. and Camp Leisure Lakes, Inc., Appellees.

United States Court of Appeals, Eighth Circuit.

Decided September 10, 1980.

Rehearing and Rehearing Denied October 13, 1980.

Attorney(s) appearing for the Case

Charles B. Blackmar (argued), and Francis L. Kenney, Jr., St. Louis, Mo., on brief, for appellant.

John R. McFarland (argued), Coburn, Croft & Putzell, St. Louis, Mo., and Bruce H. Beckett (argued), Smith, Lewis & Rogers, Columbia, Mo., for appellees; Louis F. Bonacorsi, St. Louis, Mo., Robert C. Smith, Jr., Columbia, Mo., and D. Jeff Lance, St. Louis, Mo., on brief.

Before ROSS, Circuit Judge, GIBSON, Senior Circuit Judge, and HANSON, District Judge.

Rehearing and Rehearing En Banc Denied October 13, 1980.

ROSS, Circuit Judge.

This is the second appeal in an action brought by Continental Bank & Trust Company (Continental, the bank) for recovery from American Bonding Company (American, the surety) on five performance bonds totaling $661,000.00 for the noncompletion of bonded improvement projects by Systems Leisure Properties, Inc. (Systems, the principal).

The district court initially awarded...

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