SOUTHERN TRUST MORTG. CO. v. K & B DOOR CO.

No. 17630.

763 P.2d 353 (1988)

SOUTHERN TRUST MORTGAGE COMPANY, Appellant, v. K & B DOOR COMPANY, INC., Nevada Drywall Company of Las Vegas, Inc., MS Concrete Company, Nevada Painting Company of Las Vegas, Inc., Owens Plastering Company, Inc., Riverside Acoustics, Inc., Bud Yates Construction Company, Inc., Wholesale Building Supply, Dean Roofing, Classic Plumbing, Strawn Insulation, Davis Masonry, Arc America, Kimtruss, Stratton Electric, Tropic Air Conditioning, Wickes Lumber and XA Cabinet, Respondents.

Supreme Court of Nevada.

October 26, 1988.


Attorney(s) appearing for the Case

Jolley, Urga, Wirth & Woodbury, Las Vegas, for appellant.

John Peter Lee and Barney C. Ales, Las Vegas, for respondents K & B Door Co., Inc., MS Concrete Co., Nevada Drywall Co. of Las Vegas, Inc., Nevada Painting Co. of Las Vegas, Inc., Owens Plastering Co., Inc., Riverside Acoustics, Inc. and Bud Yates Const. Co., Inc.

L. Earl Hawley, Las Vegas, for respondent Classic Plumbing.

Vargas & Bartlett, Las Vegas, for respondent Strawn Insulation.

Robert K. Dorsey, Las Vegas, for respondent Wholesale Bldg. Supply.

Leavitt & Leavitt, Las Vegas, for respondent Dean Roofing.

John P. Foley, Las Vegas, for respondent Arc America.

E. Leslie Combs, Jr., Las Vegas, for respondent Kimtruss.

Donald R. Davidson, Las Vegas, for respondent Stratton Elec.

John Boyer, Las Vegas, for respondent Wickes Lumber.

Harding & Dawson, Las Vegas, for respondent XA Cabinet.

Marquis & Haney, Las Vegas, for respondent Tropic Air Conditioning.

Hale, Lane, Peek, Dennison & Howard and Richard L. Elmore, Reno, for amicus curiae Chicago Title Ins. Co.


OPINION

PER CURIAM:

Appellant Southern Trust Mortgage Company (STM) financed the Victoria Villas housing project in Clark County. The developer, Renaissance Development Company, Inc. (Renaissance), arranged a loan from STM for the estimated construction costs. The first funds were advanced on December 22 of 1981, secured by a deed of trust on the whole project. The loan agreement between STM and Renaissance very unequivocally provided that

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