Kennedy v. Gwinnett Commercial Bank

Carley, Judge.

This action arose out of the exercise of a power of sale contained in the first of a series of deeds to secure debt covering the same parcel of land. In February of 1976, appellee-defendant Bank made certain loans to plaintiff-appellants as evidenced by certain promissory notes and secured by an assignment to the Bank of appellants’ interest and rights in the third deed to secure debt on the property. Thereafter, appellants went into default on their notes to the Bank. The Bank, holding no better than an assignment of the third deed to secure debt, considered itself to be in a…