Seattle-First National Bank v. Treiber

Defendant appeals from the trial court’s order modifying an amended judgment.

Defendant (hereinafter Treiber) signed a promissory note on March 24, 1971, in favor of plaintiff (hereinafter Seattle-First), and Seattle-First took a security interest in Treiber’s farm equipment and livestock. The note was not paid when due and Seattle-First brought an action to recover on the note and foreclose its security. On April 27, 1973, Treiber entered into a covenant and agreed to allow Seattle-First to take a default judgment for the money due it on the note and, in return, Seattle-First agreed not to…