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COMMUNITY BANK OF THE OZARKS v. F.D.I.C.

No. 92-2060.

984 F.2d 254 (1993)

COMMUNITY BANK OF THE OZARKS, Plaintiff-Appellee, v. FEDERAL DEPOSIT INSURANCE CORPORATION, Intervenor-Appellee, v. Ronald Alan McKENZIE; Doral Ann McKenzie, doing business as Ram Building Contractors, Defendants-Appellants.

United States Court of Appeals, Eighth Circuit.

Decided January 27, 1993.

Attorney(s) appearing for the Case

Teresa Hensley, Raymore, MO, argued (Kenneth C. Hensley on the brief), for defendants-appellants.

Michelle Kosse, Washington, DC, argued (Steven M. Leigh, Kansas City, MO, and Ann S. Duross, Colleen B. Bombardier and John P. Parker, Washington, DC, on the brief), for intervenor-appellee F.D.I.C.

Traci J. Turner, Springfield, MO (June Clark and Traci J. Turner, on the brief), for plaintiff-appellee Community Bank of the Ozarks.

Before FAGG, HANSEN, and MORRIS SHEPPARD ARNOLD, Circuit Judges.

MORRIS SHEPPARD ARNOLD, Circuit Judge.

I.

This case arises from foreclosure on several loans that financed a land development project located on three consecutively numbered (and apparently adjoining) lots of the Indian Point development in Sunrise Beach, Missouri. In the initial transaction, Ronald McKenzie and his wife, Doral, (Appellants) executed a promissory note in favor of Lakeland State Bank (Lakeland), owner of the lots in question, and the McKenzies...

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