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IN RE COLE

Bankruptcy No. 85-03041G, Adv. No. 85-1037G.

60 B.R. 325 (1986)

In re Timothy W. COLE, Margaret Cole, Jointly Administered with C. Horse Farm, Inc., Debtors. Margaret R. NOONE, Individually and as Co-Executrix of the Estate of John J. Noone, Deceased, Plaintiff, v. The FEDERAL LAND BANK OF BALTIMORE, Defendant.

United States Bankruptcy Court, E.D. Pennsylvania.

May 5, 1986.

Attorney(s) appearing for the Case

Desmond J. McTighe, McTighe, Weiss, Stewart, Bacine & O'Rourke, P.A., Norristown, Pa., for plaintiff, Margaret R. Noone, Individually and as Co-Executrix of the Estate of John J. Noone, Deceased.

David C. Patten, West Chester, Pa., for defendant, Federal Land Bank of Baltimore.

Gary M. Perkiss, Pozzuolo & Perkiss, Philadelphia, Pa., for debtors, Timothy W. Cole and Margaret Cole.

OPINION

EMIL F. GOLDHABER, Chief Judge:

The primary inquiry in the instant case is whether in Pennsylvania a mortgagee making payments under a future advance clause has priority over an alleged lienor whose lien arose after the creation of the mortgage but before the payments in question were made. Since we find that the mortgagee was obligated by the terms of the loan to make the payments in issue, we conclude that it has priority.

The facts of...

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