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SUMMIT TRUST v. WILLOW BUSINESS PARK

269 N.J. Super. 439 (1994)

635 A.2d 992

THE SUMMIT TRUST COMPANY, PLAINTIFF-RESPONDENT, v. WILLOW BUSINESS PARK, L.P., JOHN J. GARIBALDI, JEFFREY J. GARIBALDI, JOSEPH J. GARIBALDI, JAMES J. GARIBALDI AND WILLIAM T. KITLEY, DEFENDANTS-APPELLANTS.

Superior Court of New Jersey, Appellate Division.

Decided January 4, 1994.

Attorney(s) appearing for the Case

James A. Scarpone argued the cause for appellants (Hellring, Lindeman, Goldstein & Siegal, attorneys; Mr. Scarpone and Peter H. Stoma, on the brief).

Robert Novack argued the cause for respondent (Budd, Larner, Gross, Rosenbaum, Greenberg & Sade, attorneys; Mr. Novack and Mary L. Moore, on the brief).

Before Judges PETRELLA, BAIME and CONLEY.

The opinion of the court was delivered by CONLEY, J.A.D.

Defendants appeal summary judgment awarded plaintiff bank on a note and personal guaranties. In addition to the personal guaranties securing the note indebtedness, the bank obtained from defendant William Business Park, the borrower, a mortgage on undeveloped commercial real estate financed by the loan. When the borrower defaulted on the note, the bank elected to file a complaint in the Law Division against...

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