First National Bank v. Quinta Land & Cattle Co.

This is a foreclosure action brought by First National Bank in Albuquerque, New Mexico (Bank), against Quinta Land and Cattle Company a New Mexico Corporation (Quinta), Richard Bokum and his wife, Margaret Bokum. Bank sought foreclosure of a mortgage on certain real property located in Gallatin County, Montana. The mortgage secured certain notes (numbers 753, 109, and 5052 which are herein referred to as the 1982 notes) held by and made payable to Bank. Those notes were the subject of an underlying suit litigated in New Mexico and were found to be in default. A judgment was entered and upheld…