In Re Carmack

MEMORANDUM OPINION

FRANK W. KOGER, Bankruptcy Judge.

Debtor filed her petition under Chapter 12 of the Bankruptcy Code on November 2, 1987. Debtor filed a Motion To Determine Secured Status on January 28, 1988. Tri County Trust Company (Bank) filed its response and debtor’s Motion was heard. Debtor had ten notes with the Bank. Three of those notes are what the parties called “collateral notes” in that the Bank agreed to lend up to the face amount of each note to the debtor at a later date and debtor pledged collateral to secure the payment of any sums later advanced on said notes. In other…