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SAFAR v. WELLS FARGO BANK, N.A.

No. S-13710.

254 P.3d 1112 (2011)

Yvan SAFAR, Appellant, v. WELLS FARGO BANK, N.A., Appellee.

Supreme Court of Alaska.

July 15, 2011.

Attorney(s) appearing for the Case

Hugh G. Wade and Marion C. Kelly , Wade, Kelly & Sullivan, Anchorage, for Appellant.

Patrick B. Gilmore , Atkinson, Conway & Gagnon, Inc., Anchorage, for Appellee.

Before: CARPENETI, Chief Justice, FABE, WINFREE, and STOWERS, Justices.

OPINION

STOWERS, Justice.

I. INTRODUCTION

In June 2006 Yvan Safar, a contractor and sole owner and shareholder of Safar Construction, Inc., contracted with developer Per Bjorn-Roli, sole owner and shareholder of Norway Estates, LLC, to construct six units in a 12-unit condominium project in Girdwood for a "not to exceed" price of $2,990,434. Wells Fargo Bank agreed to loan up to $3.3 million to Norway to finance the project. By early May...

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