Sierra Associates, Ltd. v. Continental Illinois National Bank & Trust Co.
Court of Appeals of Georgia
1Opinion of the Court
Quillian, Presiding Judge.
Sierra Associates, Limited, a Georgia limited partnership, on November 26,1974, executed a deed to secure debt, and promissory note in the amount of $1,005,327.00, to the Hamilton Mortgage Corporation for the purchase of the Gray Fox apartment complex in Atlanta. The note was payable on May 26,1976. Sierra is composed of William Wallace — general partner, 40%; Heritage Equities Company — general partner, 40%; and William Bradford, limited partner — 20 %. Heritage Equities is a Georgia general partnership — with Howe Whitman as the sole general partner. There were two…
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