Local Federal Savings & Loan Ass'n v. Burkhalter

GARRETT, Judge:

This is an action for judgment on a promissory note and for the foreclosure of a real estate mortgage. Appellants were defendants in the trial court and Appellee was plaintiff.

*1203On the 28th day of March, 1980 the Defendants executed a promissory note which was payable to Plaintiff in the amount of $48,900 with interest at 14 percent per an-num. The note was payable in monthly installments of principal and interest and was secured by a real estate mortgage which was executed at the same time. The proceeds from the loan were disbursed in the form of cashier’s checks which…