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SOUTHERN SEED SERV. OF GREENVILLE v. FDIC

No. 57023.

516 So.2d 472 (1987)

SOUTHERN SEED SERVICE OF GREENVILLE, INC. and Charles H. Smith v. FEDERAL DEPOSIT INSURANCE CORPORATION.

Supreme Court of Mississippi.

Rehearing Denied January 6, 1988.

Attorney(s) appearing for the Case

Martin A. Kilpatrick, Greenville, for appellant.

James T. Milam, Campbell, Delong, Hagwood, Wade & Stuart, Greenville, for appellee.

Before ROY NOBLE LEE, P.J., and DAN M. LEE and GRIFFIN, JJ.

GRIFFIN, Justice, for the Court:

This is a suit against the Federal Deposit Insurance Corporation (hereinafter referred to as the FDIC) by Southern Seed Service of Greenville, Inc. and Charles H. Smith, president of the corporation, seeking cancellation of a mortgage entered into by Smith with Citizens Bank in Tillar, Arkansas on December 28, 1979. FDIC has counterclaimed for judicial foreclosure of its lien under the mortgage, which it claims is in default.

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