Gay v. First National Bank

Pope, Judge.

In May 1984 Professional Premium Services, Inc., borrowed $70,000 from The First National Bank of Atlanta, appellee herein. Both appellant Gay and Curtis F. Holland, the only shareholders of the corporation, personally guaranteed the indebtedness. As part of said guarantee, each executed deeds to secure debt on certain properties located in Bibb County. The record shows that the security deed on the “Holland” property was subject and inferior to two prior security deeds.

Professional Premium subsequently defaulted on the note. When *341the individual guarantors failed to satisfy the…