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PRICE v. SEATTLE-FIRST NAT. BANK

No. C81-454B.

582 F.Supp. 1568 (1983)

Frank D. PRICE, Jr., Plaintiff, v. SEATTLE-FIRST NATIONAL BANK, a national banking association, Defendant. and M.A. Stream & Associates, Patricia Ann Price, and the Price marital community, Cross-Defendants.

United States District Court, W.D. Washington.

December 28, 1983.

Attorney(s) appearing for the Case

Jeffrey L. Jernegan of Moriarty, Mikkleborg, Broz, Wells & Fryer, Seattle, Wash., for plaintiff.

Allan L. MacDougall of Madden, Poliak, MacDougall & Williamson and Jeffrey B. Van Duzer, Seattle, Wash., for cross-defendants.

ORDER DENYING MOTION TO PRECLUDE DEFICIENCY

BEEKS, Senior District Judge.

Plaintiff Frank D. Price, Jr. alleges that he was and is the owner of F/V DALENA. He granted a preferred ship mortgage to defendant Seattle-First National Bank (Sea-First) as security for a loan of $97,500. Said mortgage included the following provision:

But if default be made in such payments, or in any one of such payments, or if default be made in the prompt and faithful...

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