National Minority Supplier Development Council Business Consortium Fund, Inc. v. First National Bank

MEMORANDUM AND ORDER

MURGUIA, District Judge.

This is a contract dispute related to the proper allocation of funds collected from a third party after default on certain loans. Now before the court are two motions: Plaintiffs Second Motion for Partial Summary Judgment (Doc. 52), and Defendant First National Bank of Olathe’s Second Motion for Partial Summary Judgment (Doc. 54). For the reasons set forth below, both motions are granted.

I. FACTS

The facts in this matter are not in dispute. On September 3, 1996 defendant, First National Bank of Olathe (Bank), made a $375,000 loan, due September 5,…