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FIRST MONT. TITLE v. NORTH POINT SQUARE

No. 89-204.

782 P.2d 376 (1989)

FIRST MONTANA TITLE COMPANY OF BILLINGS, a corporation, Plaintiff and Respondent, v. NORTH POINT SQUARE ASSOCIATION, a Utah Limited partnership, American Guaranty Life Insurance Company, an Oregon corporation; et al., Defendants and Appellants.

Supreme Court of Montana.

Decided November 21, 1989.

Attorney(s) appearing for the Case

Joe Gerbase (argued), Anderson, Brown, Gerbase, Cebull, Fulton, Harman & Ross, P.C., Billings, for defendants and appellants.

Rodney T. Hartman (argued), Herndon, Hartman, Sweeney & Halverson, Billings, for First Interstate Bank of Billings.

Donald MacDonald IV, Missoula, for First Interstate Bank of Missoula.

Jo Mickelson (argued), Dorsey & Whitney, and Charles W. Hingle, Billings, for Interstate Production Credit Association.

David Hoefer, Deputy County Atty., Billings, for plaintiff and respondent.

SHEEHY, Justice.

We determine in this case, principally as a matter of contract law, that it was the duty of the escrow holder here to clear title to the parcel of land involved, and then to distribute the balance of the funds accruing from the sale of the land to the holders of the two underlying mortgages. In doing so, we affirm the judgment of the District Court, Thirteenth Judicial District, Yellowstone County, though on somewhat different grounds, holding in...

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