Fifth Third Bank v. Dial Properties, LLC

OPINION

This is an appeal from a deficiency judgment rendered in favor of Plaintiff Fifth Third Bank. Defendant Dial Properties, LLC, executed a Construction Promissory Note (“Note”) by which the company received $600,000 from Fifth Third Bank. The Note was secured by Deed of Trust to a property in Brentwood, Tennessee (“Brentwood property”) and guaranteed by Defendant John Larry Dial, Defendant Jeff Dial, and David Dial (“Guarantors”).

Dial Properties and the Guarantors defaulted when payment came due. Fifth Third foreclosed on the Brentwood property and made a credit bid of $500,000 at a…