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BANK OF MYRTLE POINT v. SEC. BANK OF COOS CO.

No. 83-26; A27960.

678 P.2d 772 (1984)

67 Or.App. 512

BANK OF MYRTLE POINT, a Corporation, Appellant, v. SECURITY BANK OF COOS COUNTY, a Corporation, and Martin E. Stone, Respondents.

Court of Appeals of Oregon.

Decided March 28, 1984.

Attorney(s) appearing for the Case

Maurice V. Engelgau, Coquille, argued the cause for appellant. With him on the briefs were Bruce E. Wiegman, and Engelgau & Woods, Coquille.

Martin E. Stone, Coquille, argued the cause for respondents. With him on the brief was Slack, Stone & Gillespie, Coquille.

Before GILLETTE, P.J., and WARDEN and YOUNG, JJ.

YOUNG, Judge.

This action is for the recovery of money resulting from the foreclosure of a trust deed by "advertisement and sale." ORS 86.735. Plaintiff holds two mortgages which are subordinate to a trust deed in which defendant Security Bank of Coos County is beneficiary and defendant Stone is the trustee. The central issue is whether defendants are liable to plaintiff for that portion of Security Bank's bid at the trustee sale which is in excess of the sum secured...

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