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SIERRA ASSOC. v. CONTINENTAL &c. TRUST CO.

67169.

169 Ga. App. 784 (1984)

315 S.E.2d 250

SIERRA ASSOCIATES, LTD. et al. v. CONTINENTAL ILLINOIS NATIONAL BANK & TRUST COMPANY OF CHICAGO.

Court of Appeals of Georgia.

Rehearing Denied February 13, 1984.

Attorney(s) appearing for the Case

Edward T. M. Garland, Norman Underwood, Robin N. Loeb, for appellants.

Peyton S. Hawes, Jr., Julie Childs, for appellee.

QUILLIAN, Presiding Judge.

Sierra Associates, Limited, a Georgia limited partnership, on November 26, 1974, executed a deed to secure debt, and promissory note in the amount of $1,005,327.00, to the Hamilton Mortgage Corporation for the purchase of the Gray Fox apartment complex in Atlanta. The note was payable on May 26, 1976. Sierra is composed of William Wallace — general partner, 40%; Heritage Equities Company — general partner, 40%; and William...

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