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RANIER v. MOUNT STERLING NAT. BANK

No. 90-SC-196-DG.

812 S.W.2d 154 (1991)

Phyllis RANIER, Movant, v. MOUNT STERLING NATIONAL BANK, Respondent.

Supreme Court of Kentucky.

Rehearing Denied August 29, 1991.

Attorney(s) appearing for the Case

Tom H. Pierce, Versailles, for movant.

John C. Fogle, Mount Sterling, for respondent.

SPAIN, Justice.

This action arises out of the interpretation of a subordination agreement. In 1977, Phyllis Ranier loaned $200,000 to Algin and Doris Nolan and secured the promissory note with a first mortgage lien on their house and lot located in Montgomery County, Kentucky. In 1983, the Nolans applied for a home improvement loan with the Mount Sterling National Bank (Bank) to repair their home which was damaged by fire. Before approving the loan, the Bank required...

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