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McNEARY'S ARBORISTS, INC. v. CARLEY CAPITAL GROUP

No. 9026SC887.

406 S.E.2d 644 (1991)

103 N.C. App. 650

McNEARY'S ARBORISTS, INC., Plaintiff, v. CARLEY CAPITAL GROUP; David Carley; James Carley; First Federal Savings and Loan Association of Charlotte; Robert E. Perry, Jr.; Richard W. Wilson; Frank J. Langelotti and wife, Theresa M. Langelotti; William G. Westphal and wife, Barbara L. Westphal; Bobby W. Gordon, Jr.; and Home Savings of America, F.A., Defendants.

Court of Appeals of North Carolina.

August 6, 1991.

Attorney(s) appearing for the Case

Johnston, Taylor, Allison & Hord by Greg C. Ahlum and John A. Morrice, Charlotte, for plaintiff-appellant.

Parker, Poe, Adams & Bernstein by Irvin W. Hankins III and Josephine H. Hicks, Charlotte, for defendant-appellees.

PHILLIPS, Judge.

The trial court's holding is erroneous, and we reverse it. For a deed of trust or other security instrument to have priority from the date of recordation as to obligations incurred after the instrument is recorded, G.S. 45-68(1) requires that the instrument show three things, one of which is:

c. The period within which such future obligations may be incurred, which period shall not extend more than 10 years beyond the date of the security...

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