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PAYNTER v. MAGGIOLO

No. 919SC235.

412 S.E.2d 691 (1992)

105 N.C. App. 312

Raymond B. PAYNTER, Dauphine P. Paynter, v. Robert MAGGIOLO, Sylvia Maggiolo and the Village Bank, Inc.

Court of Appeals of North Carolina.

February 4, 1992.

Attorney(s) appearing for the Case

D. Randall Cloninger and Jack H. Hughes, Jr., Henderson, for plaintiff-appellee.

Roberti, Wittenberg, Holtkamp & Lauffer by Samuel Roberti and Christa A. McGill, Durham, for defendant-appellant Sylvia (Maggiolo) Trembley and Browne and Flebotte by Daniel R. Flebotte, Durham, for defendant-appellant Robert Maggiolo.

WYNN, Judge.

In November 1985, Robert Maggiolo and his then wife, Sylvia Maggiolo, ("the Maggiolos") contracted to buy property located in Warren County, North Carolina, from Raymond Paynter and his wife, Dauphine Paynter, ("the Paynters") for $230,000. To partially finance the purchase, the Maggiolos borrowed $145,000 from Village Bank secured by a first deed of trust on the subject property. However, pursuant to the Offer to Purchase, the Maggiolos, after paying...

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