MORRILTON SEC. BANK v. KELEMEN

No. CA 99-1108.

16 S.W.3d 567 (2000)

70 Ark.App. 246

MORRILTON SECURITY BANK v. Ronald G. KELEMEN and Jean Louise Kelemen; Charlene Engelhoven, Intervenor.

Court of Appeals of Arkansas, Division III.

May 17, 2000.


Attorney(s) appearing for the Case

Brazil, Adlong, & Osment, PLC, by: William C. Brazil, Conway, for appellant.

Joel Taylor, Morrilton, for appellee.


JOHN E. JENNINGS, Judge.

In 1991, Charlene Engelhoven's husband, a Morrilton chiropractor, died. On April 27, 1993, she sold his chiropractic practice and office building to Ronald and Jean Louise Kelemen. The Kelemens financed the purchase by executing a one-year note for $110,000.00 at 8 percent interest, together with a mortgage, in favor of Morrilton Security Bank, the appellant here. To facilitate the sale Mrs. Engelhoven pledged a $35,000.00 certificate of deposit...

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