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CIT GROUP/COMMERCIAL SERVICES v. VITALE

No. COA01-251.

559 S.E.2d 275 (2002)

The CIT GROUP/COMMERCIAL SERVICES, INC., Plaintiff, v. Jody B. VITALE, Defendant.

Court of Appeals of North Carolina.

February 19, 2002.

Attorney(s) appearing for the Case

Shumaker, Loop & Kendrick, L.L.P., by Frederick M. Thurman, Jr., Charlotte, for plaintiff-appellee.

Newitt & Bruny, by Roger H. Bruny, Charlotte, for defendant-appellant.

TYSON, Judge.

I. Facts

Jody B. Vitale ("defendant") personally guaranteed payment of certain debts of Trendline Home Fashions, Inc. ("Trendline"). The CIT Group/Commercial Services, Inc. ("plaintiff") loaned to Trendline the sum of $4,500,000.00, pursuant to a Loan and Security Agreement ("Security Agreement"). The Security Agreement was amended four times. After continuing defaults by Trendline, plaintiff accelerated the obligations, and made demand...

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