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STRAUB v. CHEMICAL BANK

608 S.W.2d 71 (1980)

Louis R. STRAUB, Jerome D. Warner, Thomas J. Zumbiel, Sr., Appellants, v. CHEMICAL BANK, American National Investments, Inc., Old Hickory Properties, Inc., State Bank of Clearing, Federal Deposit Insurance Corp., William F. Burbank, Ky-Inna Turf and Supply Co., Inc., All Carts, Inc., Theodore Carney, Lillie F. Webb, Pohl Construction Company, Spindletop Draperies, Appellees. Jerome D. WARNER, Thomas J. Zumbiel, Sr., Louis R. Straub, Appellants, v. CHEMICAL BANK, Appellee.

Court of Appeals of Kentucky.

November 7, 1980.

Attorney(s) appearing for the Case

William F. Burbank, Dennis R. Carrithers, Louisville, for appellant, Louis R. Straub.

Gary L. Gardner, Gary L. Gardner & Associates, Louisville, for appellants, Jerome D. Warner and Thomas J. Zumbiel, Sr.

Richard W. Iler, Kenneth S. Matheis, Tarrant, Combs & Bullitt, Louisville, for appellee, Chemical Bank.

Gary Gardner, Louisville, for appellee, American National Investments, Inc.

William F. Burbank, Louisville, for appellee, Old Hickory Properties, Inc.

J. Larry Cashen, Louisville, for appellees, State Bank of Clearing and Federal Deposit Ins. Corp.

Rocco J. Celebrezze, Louisville, for appellee, KY-INNA Turf and Supply Co., Inc.

All Carts, Inc. pro se.

Theodore Carney pro se.

Rufus Lisle, Lexington, for appellee, Lillie F. Webb.

Ralph M. Allen, Louisville, for appellee, Pohl Const. Co.

Spindletop Draperies pro se.

Before WHITE, HOGGE and VANCE, JJ.

WHITE, Judge.

This appeal is taken from an Order of the Jefferson Circuit Court by which a deficiency and a judgment were established against appellants-guarantors.

In 1972 American National Investments executed to Chemical Bank a mortgage note of $512,000 for which eleven payments of $10,000 principal (plus applicable interest) were due quarterly prior to a final lump-sum payment of the balance. Appellants Warner, Zumbiel, and Straub entered into an agreement...

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