Skelton v. J&G, LLC

The Springhill Apartments, LLC ("Springhill"), is composed of two members: Carol R. Skelton and Wayne A. Smith. The record indicates the following facts. On May 7, 1997, Skelton and Smith, on behalf of Springhill, executed a promissory note, which was secured by a mortgage, in the amount of $940,000 in favor of National Bank of the South (now known as National Bank of Commerce) (hereinafter referred to as "NBC") to purchase property known as Springhill Apartments ("the property").

In early 2002, Springhill defaulted on the note to NBC, and NBC foreclosed the mortgage on the property. On May…