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NICHOLS v. CADLE CO.

No. 97-1518.

139 F.3d 59 (1998)

Sargent D. NICHOLS, Individually and as He is Trustee of Andover Northway Realty Trust, Charles MacGill, and Allan R. Ball, Plaintiffs, Appellants, v. The CADLE COMPANY, Defendant, Appellee.

United States Court of Appeals, First Circuit.

Decided March 18, 1998.

Attorney(s) appearing for the Case

Gilbert R. Hoy, Jr. with whom Law Offices of Gilbert R. Hoy, Jr., Chestnut Hill, MA, was on brief, for appellants.

Alvin S. Nathanson with whom Shannon M. Fitzpatrick and Nathanson & Goldberg, P.C., Boston, MA, were on brief, for appellee.

Before SELYA and BOUDIN, Circuit Judges, and DOWD, Senior District Judge.

BOUDIN, Circuit Judge.

On December 21, 1990, the Andover Northway Realty Trust executed a promissory note with installment payments in favor of the Woburn Savings Bank and secured it by giving the bank a mortgage on property the trust had purchased in Peabody, Massachusetts. The note was for $3.28 million for one year with installments of $30,969.40 to be paid each month and the balance due at year's end. Three individuals — Messrs. Nichols, MacGill, and Ball...

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