Legal Opinion
Louisiana National Bank v. Triple R. Contractors, Inc.
Louisiana Court of Appeal
Decided May 24, 1976No. 10751PublishedCited by 3 opinions
1Opinion of the Court
CHIASSON, Judge.
On October 17, 1972 Triple R. Contractors, Inc. mortgaged to Louisiana National *517Bank (LNB) 4.89 acres of a 6.60 tract Triple R owned in East Baton Rouge Parish. The mortgage was given to secure a loan to be used to construct a 94 unit apartment complex on the property mortgaged. These 94 units were to he Phase I of a larger project. Colwell Mortgage Trust provided 90% of the funds for the project, 10% of the funds being provided by LNB. At the completion of Phase I, the mortgage and the note which it secured were to be assigned to Colwell Trust which would pay LNB its 10%.
Betwe…
2Cases cited3 opinions
- Canter v. Koehring CompanySupreme Court of Louisiana · 1973
- Bernard Lumber Co. v. John F. Cerise Co.Louisiana Court of Appeal · 1963
- Myevre v. Liberty Realty & Securities Co.Supreme Court of Louisiana · 1924
3Cited by3 opinions
- First Nat. Bank of Commerce v. Watergate, Inc.Louisiana Court of Appeal · 1977
- Watts Bros. Builders, Inc. v. Altex Ready Mix Concrete Corp.Louisiana Court of Appeal · 1977
- Louisiana National Bank of Baton Rouge v. Triple R Contractors, Inc.Supreme Court of Louisiana · 1976