Centennial State Bank v. SEK Construction Co., Inc.

TURNAGE, Judge.

This action was commenced by Centennial State Bank (Centennial) against S.E. K. Construction Company, Inc. (S.E.K.) and John L. Polston and Ruth E. Polston (Polstons). Fireman’s Fund Insurance Company (Fireman’s) intervened in such suit, and thereafter the Polstons filed a crossclaim against Fireman’s.

The original litigation was brought by Centennial after Centennial had taken an assignment of a promissory note and security agreement executed by S.E.K. to Commercial Credit Industrial Corporation (CCIC). S.E.K. originally executed a promissory note to CCIC in the amount of…