ISAAK v. IDAHO FIRST NAT. BANK

No. 18616.

811 P.2d 832 (1991)

119 Idaho 907

Ronald R. ISAAK and Ethelene M. Isaak, husband and wife, Plaintiffs-Appellants, v. IDAHO FIRST NATIONAL BANK, an Idaho corporation; Haney Seed Company, a Delaware corporation; Harry F. LeMoyne and Alice I. LeMoyne, husband and wife; Henri LeMoyne and Sharon LeMoyne, husband and wife; Jeffrey L. Sherburne and Deborah G. Sherburne, husband and wife; and Greg Ruddell and Cheryl Ruddell, husband and wife, Defendants-Respondents. Idaho First National Bank, an Idaho corporation; Haney Seed Company, a Delaware corporation, Cross-Claimants, Harry F. LeMoyne and Alice I. LeMoyne, husband and wife; Henri LeMoyne and Sharon LeMoyne, husband and wife; Jeffrey L. Sherburne and Deborah G. Sherburne, husband and wife; and Greg Ruddell and Cheryl Ruddell, husband and wife, Cross-Defendants.

Supreme Court of Idaho, Boise, December 1990 Term.

Rehearing Denied June 25, 1991.


Attorney(s) appearing for the Case

Lloyd J. Walker, Twin Falls, for plaintiffs-appellants.

Holland & Hart, Langroise, Sullivan, Boise, for defendant-respondent, Idaho First Nat. Bank. John C. Ward argued.

Smith & Beeks, Twin Falls, for defendants-respondents LeMoyne, et al. Paul M. Beeks argued.


JOHNSON, Justice.

This is a real estate mortgage case in which the mortgagees agreed to substitute a renegotiated note for the original note secured by the mortgage. The renegotiated note provided that the mortgagor would not be personally liable to the mortgagees if a default in the payment of the note occurred and that the only remedy of the mortgagees in the event of default would be to proceed against the real estate...

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