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FIRST IND. FED. SAV. BANK v. MD. DEV. CO.

No. 49A-2-8605-CV-170.

509 N.E.2d 253 (1987)

FIRST INDIANA FEDERAL SAVINGS BANK, Appellant (Defendant below), v. MARYLAND DEVELOPMENT CO., Inc., Appellee (Plaintiff below).

Court of Appeals of Indiana, Second District.

Rehearing Denied October 13, 1987.

Attorney(s) appearing for the Case

James P. Seidensticker, Jr., Theodore J. Nowacki, Bose McKinney & Evans, Indianapolis, for appellant.

Marvin Mitchell, Mitchell Hurst Pinkus Jacobs & Dick, Indianapolis, for appellee.

SHIELDS, Presiding Judge.

First Indiana Federal Savings Bank appeals the trial court's denial of its motion for summary judgment and the grant of summary judgment in favor of Maryland Development Co. Inc. We reverse.

FACTS

On August 12, 1975, CWJ Realty Co. executed a note and mortgage in the amount of $1,500,000 in favor of First Indiana covering certain commercial real estate located in Marion County, Indiana. The note contained the following ...

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