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LOVING v. PONDEROSA SYSTEMS, INC.

No. 1-482A93.

444 N.E.2d 896 (1983)

Edwin N. LOVING and Joan C. Loving, Appellants (Cross-Claimants, and Counterdefendants), v. PONDEROSA SYSTEMS, INC., Appellee (Cross-Defendants, and Counterclaimant).

Court of Appeals of Indiana, First District.

Rehearing Denied March 22, 1983.

Attorney(s) appearing for the Case

Max W. Hittle, Jr., R. Matthew Neff, Krieg, DeVault, Alexander & Capehart, Indianapolis, William H. Andrews, Baker, Barnhart & Andrews, Bloomington, for appellants.

James A. Strain, Stephen W. Lee, Barnes & Thornburg, Indianapolis, for appellee.

RATLIFF, Judge.

STATEMENT OF CASE

Edwin N. Loving and Joan C. Loving appeal the trial court's setting aside of its earlier order granting partial summary judgment wherein the court determined that the First National Bank of Bloomington was entitled to apply certain fire insurance proceeds to retire the amount of the Lovings' mortgage indebtedness. We reverse.

FACTS

In 1972 the Lovings purchased a parcel of real estate located in Bloomington...

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