Cayer v. Mid-State Federal Savings Bank (In Re Cayer)

FINDINGS OF FACT AND CONCLUSIONS OF LAW

GEORGE L. PROCTOR, Bankruptcy Judge.

This proceeding came before the Court upon Motions for Summary Judgment filed by the plaintiffs and the defendant. A hearing was held on November 25, 1992. The parties agree there are no genuine issues of material fact and that this proceeding may be determined on the filed papers. The Court enters the following Findings of Fact and Conclusions of Law:

Findings of Fact

Plaintiffs owned a thirty-two unit apartment project in Ocala, Florida. On June 30, 1986, they executed a promissory note and first mortgage on the…