Local Federal Bank, F.S.B. v. JICO, Inc.

OPINION

BAILEY, Presiding Judge:

Appellants JICO, Inc., JICO Health Services, Inc., Timothy K. Pickert, and E.W. Jiles (collectively, Guarantors) seek review of the Trial Court’s order granting summary judgment to Appellee Local Federal Bank (Bank). The parties have filed an agreed Statement in Lieu of Record on Appeal, 1 and present the following questions for review.

First: Is a guarantor of a debt secured by a mortgage on real estate entitled to compel an offset in the amount of the fair market value of the real property mortgaged pursuant to Title 12 O.S. Section 686?

Second: If a guarantor…