Gate City Federal Savings & Loan Ass'n v. Dalton

OPINION

GARFF, Judge:

Gate City Federal Savings and Loan Association (Gate City) appeals a summary judgment granted in favor of appellees, Edward A. Dalton, Jr., John C. Forrester, Jr., et al. (Borrowers).

FACTS

In the spring of 1981, Kilburn Vacation-Homeshare, Inc. (Kilburn) and Vaughn Cook, Vaughn Cook & Associates, and/or C.C. International, entered into a venture whereby Cook would build and develop homes at Jeremy Ranch, Utah and Kilburn would market and sell the homes as timeshare units. Cook approached Gate City Mortgage Company and/or Gate City Federal Savings and Loan Association (Gate…