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FIRST NAT. BANK OF LEA CTY. v. JULIAN

Nos. 12741, 12761.

627 P.2d 880 (1981)

96 N.M. 38

FIRST NATIONAL BANK OF LEA COUNTY, a national banking corporation, Plaintiff-Appellee, v. (Troy JULIAN et al.) John Pike, d/b/a Pike's Plumbing and Heating, Defendant-Appellant. FIRST NATIONAL BANK OF LEA COUNTY, a national banking corporation, Plaintiff-Appellee, v. GARRETT BUILDING CENTERS, INC., Defendant-Appellant, Troy Julian et al., Defendants.

Supreme Court of New Mexico.

May 7, 1981.

Attorney(s) appearing for the Case

Templeman & Crutchfield, C. Barry Crutchfield, Lovington, for Pike.

Maddox & Maddox, Don Maddox, John M. Renfrow, Hobbs, for Garrett Bldg.

Williams, Johnson, Reagan & Porter, Hobbs, for plaintiff-appellee.

OPINION

PAYNE, Justice.

First National Bank of Lea County brought suit to foreclose a mortgage and have all other liens on the mortgaged property declared inferior to its mortgage. The property was sold at a foreclosure sale following the default of the mortgagor, and the monies derived from the sale were paid into the district court pending determination of the priorities of the competing liens.

Troy Julian, a contractor, in order to finance construction...

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