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AUTO-PLAZA, INC. v. CENTRAL BANK OF ALABAMA

79-704.

394 So.2d 6 (1980)

AUTO-PLAZA, INC. v. CENTRAL BANK OF ALABAMA, N. A.

Supreme Court of Alabama.

Rehearing Denied February 20, 1981.

Attorney(s) appearing for the Case

W. Eugene Rutledge, Birmingham, for appellant.

Arthur J. Cook and James S. Sledge of Inzer, Suttle, Swann & Stivender, Gadsden, for appellee.

JONES, Justice.

Appellant Auto-Plaza, Inc., is an Alabama corporation located in Etowah County, Alabama, and formerly engaged in the business of selling new and used cars.

In August of 1976, Auto-Plaza assumed a mortgage and mortgage note due Appellee Central Bank from a corporation known as Alder Acres, Inc. This property had previously been leased by Auto-Plaza as a service department and body shop. The "Alder Acres" mortgage note provided for payments to...

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