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HOME FEDERAL SAV. BANK v. TICOR TITLE INS. CO.

No. 11-3446.

695 F.3d 725 (2012)

HOME FEDERAL SAVINGS BANK, Plaintiff-Appellant, v. TICOR TITLE INSURANCE COMPANY, Defendant-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided September 6, 2012.

Rehearing Denied September 25, 2012.

Attorney(s) appearing for the Case

R.C. Richmond, III (argued), Attorney, Taft Stettinius & Hollister LLP, Indianapolis, IN, for Plaintiff-Appellant.

Tammy L. Ortman (argued), Attorney, Mercer Belanger, Indianapolis, IN, for Defendant-Appellee.

Before FLAUM and HAMILTON, Circuit Judges, and FEINERMAN, District Judge.

HAMILTON, Circuit Judge.

This case concerns a title insurance policy covering a construction project. The plaintiff is the insured party, Home Federal Savings Bank, which agreed to lend up to $95.5 million to finance the construction of a new ethanol production plant. When the developer of the plant ran into serious trouble finishing the project, the bank did not disburse the final $8 million of the loan amount. The developer defaulted on the debt to the bank and...

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