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DAVIS v. HUNTSVILLE PRODUCTION CREDIT ASS'N

84-191.

481 So.2d 1103 (1985)

Lee DAVIS v. HUNTSVILLE PRODUCTION CREDIT ASSOCIATION.

Supreme Court of Alabama.

November 22, 1985.

Attorney(s) appearing for the Case

Jimmy E. Alexander of Alexander, Corder & Plunk, Athens, for appellant.

James W. Woodroff, Jr. of Woodroof & Woodroof, Athens, for appellee.

SHORES, Justice.

In September 1979, the Huntsville Production Credit Association (HPCA) loaned Lee Davis and Herman Scott $45,430 to purchase equipment for their new logging operation. Davis and Scott signed a real estate mortgage, a security agreement, and a note. The loan was secured by the logging equipment (sawmill, engine, loader, and skidder), a third mortgage on 355.11 acres of real estate owned by Davis, a first mortgage on a one-third interest in 15 acres...

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