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CHASTAIN PLACE, INC. v. BANK SOUTH, N. A.

74972, 74973.

185 Ga. App. 178 (1987)

363 S.E.2d 616

CHASTAIN PLACE, INC. et al. v. BANK SOUTH, N. A. (two cases.)

Court of Appeals of Georgia.

Decided December 3, 1987.

Attorney(s) appearing for the Case

Donald J. Goodman, for appellants.

Thomas C. Harney, for appellee.

McMURRAY, Presiding Judge.

Defendant Bank South, N. A. made a $2 million construction loan agreement with plaintiff Chastain Place, Inc. The loan agreement was evidenced by a promissory note and secured by a deed to secure debt to the real property being developed. Plaintiff Hammer was a guarantor on the note. Subsequently, plaintiff Hammer borrowed $300,000 from defendant. This debt was secured by an office building owned by Hammer and the net proceeds of the loan...

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