Lantrado, Inc. v. Henry County Bank

BEATTY, Justice.

Appeal by defendants from an order granting summary judgment for plaintiff in an action based upon a promissory note. We affirm.

The plaintiff bank made a loan of money to the defendants, who executed a promissory note, secured by a mortgage on real estate and payable to the bank in the principal amount of $35,472.48, with interest thereon at the rate of 18% per annum. The note was dated February 4, 1982, and was due August 3, 1982. Defendants defaulted on their payment of the note, whereupon the bank initiated foreclosure proceedings. At a public sale held on December 20,1982,…