Cherokee Ins. Co. v. FIRST NATIONAL BANK OF DALTON

Birdsong, Presiding Judge.

Cherokee Insurance Company filed a declaratory judgment action against appellees Roller Disco of Rome, First National Bank of Dalton, C. Kyle Gravitt and Edgar Lee Cagle, Jr., seeking to determine its liability under a fire insurance contract. The complaint stated that in April 1980, Gravitt purchased by warranty deed certain land on which he intended to construct a roller skating rink, for which he borrowed $300,000 from First Nationál Bank. A promissory note and deed to secure debt were executed in favor of the bank securing the property, which were duly recorded…