Medlock v. Pleatman

Andrews, Judge.

Medlock appeals the trial court’s grant of summary judgment to defendant Pleatman on Medlock’s suit for a deficiency after foreclosure on certain real estate.

In June 1982, Medlock sold Pleatman an apartment complex. As part of the purchase price, Pleatman gave Medlock a third priority purchase money note dated June 18, 1982 in the amount of $436,694.69 and assumed two existing debts against the property, including the 1972 first priority note and security deed held by Decatur Federal Savings & Loan Association.1 The 1982 third priority note contained the following language…