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REEVES CEDARHURST DEVELOPMENT CORPORATION v. FIRST AMERICAN FED. SAVINGS AND LOAN ASSOCIATION

1910848.

607 So.2d 180 (1992)

REEVES CEDARHURST DEVELOPMENT CORPORATION v. FIRST AMERICAN FEDERAL SAVINGS AND LOAN ASSOCIATION.

Supreme Court of Alabama.

October 30, 1992.

Attorney(s) appearing for the Case

George M. Beason, Jr. of Martinson, Beason & Hooper, P.C., Huntsville, for appellant.

John D. Snodgrass and Daniel M. Wilson of Balch & Bingham, Huntsville, and M. Stanford Blanton, Birmingham, for appellee.

HORNSBY, Chief Justice.

The plaintiff, Reeves Cedarhurst Development Corporation ("RCDC"), appeals from a summary judgment in favor of the defendant, First American Federal Savings and Loan Association ("First American"). We affirm.

On June 27, 1989, RCDC borrowed $790,000 from First American to use in constructing condominium units. In connection with the loan, RCDC executed a one-year promissory note providing...

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