Langson Construction Co. v. Nevada Savings & Loan Ass'n

OPINION

Respondent sought successfully in the lower court to recover deficiency judgments against the appellants on two promissory notes.

*532The first note, secured by a deed of trust, was executed by the appellant Langson Construction Company on October 26, 1962 for $1,348,600. The note provided for interest at the rate of 6 percent per annum payable in monthly installments of $7,417. An additional 3 percent would be payable on the monthly installments during any period of default. Appellant was charged 4.5 percentage points as a loan and construction control fee. On September 27, 1963 respondent…