Federal Deposit Insurance Corporation, as Receiver for Jackson Exchange Bank and Trust Company v. Indian Creek Warehouse, J v. Frederick G. Lenertz

BOGUE, Senior District Judge.

The defendant, Frederick G. Lenertz, appeals the district court’s 2 grant of summary judgment in favor of the plaintiff, Federal Deposit Insurance Corporation (FDIC) in its action to collect monies due under a defaulted promissory note. We affirm.

In 1986 Lenertz, as one of five Joint Ven-turers, 3 executed a loan agreement and promissory note payable to Jackson Exchange Bank and Trust Company (Bank). Under the note, Lenertz was personally liable as guarantor for 40 percent of any and all obligations of the Joint Venture to the Bank. In 1992 the bank was declared…