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SUNWEST BANK OF CLOVIS, N.A. v. CLOVIS IV

Nos. 16707, 16708, 16710 and 16753.

740 P.2d 699 (1987)

SUNWEST BANK OF CLOVIS, N.A., as Trustee under a Mortgage and Indenture of Trust dated as of December 1, 1982, from the City of Clovis to said bank, Plaintiff-Appellee, v. CLOVIS IV, a Missouri general partnership, et al., Defendants-Appellants. SUNWEST BANK OF CLOVIS, N.A., Plaintiff-Appellee, v. NEW MEXICO ETHANOL PRODUCERS 1983 A. LTD., a Texas Limited Partnership, et al., Defendants-Appellants. SUNWEST BANK OF CLOVIS, N.A., Plaintiff-Appellee, v. CLOVIS II, a Missouri general partnership, et al., Defendants-Appellants. SUNWEST BANK OF CLOVIS, N.A., Plaintiff-Appellee, v. CLOVIS III, a Missouri general partnership, et al., Defendants-Appellants.

Supreme Court of New Mexico.

Rehearing Denied August 19, 1987.

Attorney(s) appearing for the Case

Doerr & Knudson, Randy Knudson, Clovis, for defendants-appellants.

Modrall, Sperling, Roehl, Harris & Sisk, Paul M. Fish, Mark B. Thompson, III, Albuquerque, for plaintiff-appellee.

OPINION

RANSOM, Justice.

This controversy arises out of a default by ethanol plant developers under an industrial revenue bond issue. In separate actions consolidated on appeal, Sunwest Bank of Clovis (Sunwest Bank), as trustee for the City of Clovis (City), brought a declaratory judgment action against Titan Energy Engineering, Inc. (Titan), and against Clovis II, Clovis III, Clovis IV and New Mexico Ethanol Producers (partnerships) seeking a declaration...

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