BOWES, Judge.
This suit originated on April 4, 1978 when American Bank instituted proceedings against defendants, Red Diamond Supply Company, Inc. and John R. Pertuit, to recover $94,064.00, together with interest and attorney's fees, as the holder and owner of a promissory note in the amount sued upon. The note, dated February 11, 1977, was executed by both defendants and was secured by the pledge of three mortgage notes, to wit:
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