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STERLING SAV. BANK v. EMERALD DEVELOPMENT

C094420CV; A150048.

338 P.3d 719 (2014)

266 Or. App. 312

STERLING SAVINGS BANK, by and through, NORTHWEST LENDING PARTNERS, LLC, Assignee, Plaintiff-Appellant, v. EMERALD DEVELOPMENT CO, an Oregon corporation; Lily Mirtorabi; Jason Hossein Samani; Javad John Mirtorabi; Mehdi Mirtorabi; and Habib Matin, Defendants-Respondents, and Meridian Village No. 1, LLC, an Oregon limited liability company; et al., Defendants.

Court of Appeals of Oregon, En Banc.

Resubmitted en banc June 3, 2014.

Decided October 15, 2014.

Attorney(s) appearing for the Case

Michael D. Montag , argued the cause for appellant. With him on the briefs were A. Richard Vial and Vial Fotheringham LLP.

Andrew T. Reilly , Portland, argued the cause for respondents. With him on the brief was Black Helterline LLP.

Before HASELTON, Chief Judge, and ARMSTRONG, WOLLHEIM, ORTEGA, SERCOMBE, DUNCAN, NAKAMOTO, HADLOCK, EGAN, DeVORE, LAGESEN, and TOOKEY, Judges, and SCHUMAN, Senior Judge.

During litigation of this collection action brought by plaintiff Sterling Savings Bank (Sterling) against the principal obligor and coguarantors of a promissory note, Northwest Lending Partners, LLC (Northwest) purchased the note and the guaranty agreements from Sterling. In conjunction with

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