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F.D.I.C. v. ROYAL PARK NO. 14, LTD.

No. 92-1920.

2 F.3d 637 (1993)

FEDERAL DEPOSIT INSURANCE CORPORATION in its Corporate Capacity as Liquidator of Bank of Dallas, Plaintiff-Appellee, v. ROYAL PARK NO. 14, LTD., et al., Defendants-Appellants.

United States Court of Appeals, Fifth Circuit.

September 29, 1993.

Attorney(s) appearing for the Case

Robert L. Kelsoe, Jeffrey R. Clark, Kelsoe, Anderson & Khoury, Dallas, TX, for defendants-appellants.

Jerome A. Madden, FDIC, Washington, DC, Michael Robert Swan, FDIC, Legal Div., Dallas, TX, for plaintiff-appellee.

Before EMILIO M. GARZA, and DeMOSS, Circuit Judges, and ZAGEL, District Judge.

DeMOSS, Circuit Judge:

I.

On November 1, 1985, Royal Park No. 14, Ltd., Royal Park No. 20, Ltd., Royal Park Development Corporation, Inc., G.R. Hay and William G. Jones, Jr. (Royal Park) executed and delivered a promissory note to the Bank of Dallas. Hay and Jones also executed and delivered a guaranty agreement under which they guaranteed payment of the original note and any extensions and renewals. The note was secured by a deed of trust.

Royal...

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