Randolph County v. Settles Bros.

Andrews, Presiding Judge.

Randolph County appeals from the trial court’s order on summary judgment finding that Settles Brothers, Inc. occupied a surety-like position on a note owed to the County and that the County’s failure to maintain its security interest in property pledged as security on the note discharged Settles Brothers from liability to the extent of the value of the property. For the following reasons we affirm the trial court.

The County loaned Settles Brothers $194,000 in September 1992 and took a promissory note from Settles Brothers in the amount of the loan along with a…