Sepo v. First National Bank

OPINION

STEVENS, Judge.

This is a suit by First National Bank of Arizona (hereinafter “bank”) to collect on a note made by Mr. and Mrs. Michael E. Sepo (hereinafter Sepos) and to foreclose its lien-on the property whose purchase price the mortgage secured. The question presented on appeal is whether the Sepos raised questions of fact sufficient to preclude the granting of the bank’s motion for summary judgment.

The property in question is Lot #465 Valley Vista Unit Four B, located in Mari-copa County. The land is part of an area which, in its undeveloped state, was owned by one Ralph Eaton.…