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IN RE RELIANCE EQUITIES, INC.

No. 90-1191.

966 F.2d 1338 (1992)

In re RELIANCE EQUITIES, INC., Debtor. H. Christopher CLARK, Chapter 7 Trustee of the Estate of Reliance Equities, Inc., Plaintiff-Appellee, v. VALLEY FEDERAL SAVINGS AND LOAN ASSOCIATION and Mid Valley Mortgage Corporation, Defendants-Appellants.

United States Court of Appeals, Tenth Circuit.

June 9, 1992.

Attorney(s) appearing for the Case

A. Bradley Bodamer of Morrison, Hecker, Curtis, Kuder & Parrish, Overland Park, Kan. (Richard Silverstein of Galchinsky & Silverstein, Denver, Colo., with him on the brief) for plaintiff-appellee.

Elizabeth J. Greenberg (Debora D. Jones, with her on the brief) of Sherman & Howard, Denver, Colo., for defendants-appellants.

Before LOGAN and EBEL, Circuit Judges, and WINDER, District Judge.

EBEL, Circuit Judge.

This case involves a funding facility agreement in which the appellants provided financing for certain mortgage loans. The mortgage loans were evidenced by promissory notes and secured by deeds of trust, and both the promissory notes and the deeds of trust were assigned to the appellants as security for the financing. Ultimately, the promissory notes and the deeds of trust were sold to a third party, and the appellants contend that they held a...

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