Gallatin Group v. Central Life Assurance Co.

OPINION

HOFFMAN, Judge.

Appellants-defendants the Gallatin Group, Larken, Inc., and Gallatin Hotels Income Plus Limited Partnership I (collectively referred to as "Defendants") appeal from a summary judgment in favor of appellee-plaintiff Central Life Assurance Company on Count III of a three-count mortgage foreclosure complaint seeking a personal money judgment. The designated facts relevant to this appeal are set forth below.

In August of 1990, Gallatin Hotels, a limited partnership, entered into a construction loan agreement (the Agreement) with Central Life for the purpose of renovating a…