Kleckner v. BANK OF AMERICA NATIONAL TRUST & SAVINGS ASS'N

Dave’s Blue Room, Inc., was the corporate owner of a restaurant property on the Sunset Strip in Los Angeles. The real property was subject to three trust deeds, junior to each other in the following order: The first lien was to secure a promissory note to Bank of America; the second lien was to secure a note to the defendant, Marguerite Bruce Wetherbee; the third lien was to secure a note to the plaintiff, Leonard Kleckner.

Default was made in monthly payments of principal and interest due under the second trust deed. Notices of default and of sale were given, and the property was sold under a…