In re the Foreclosure of a Deed of Trust Executed by C & M Investments of High Point, Inc.

FRYE, Justice.

This appeal involves a foreclosure petition filed by Walker Heirs, Inc. regarding property in Guilford County.

The relevant facts and circumstances are as follows: On 13 November 1990, C & M Investments of High Point, Inc. (C & M), purchased 280 acres of land in Guilford County from Walker Heirs, Inc. (Walker). A purchase price of $1,258,740 was paid, $338,685 in cash and the balance financed by Walker through a promissory note in the amount of $920,055. The note provides for semiannual payments due the first day of May and November. The promissory note is secured by a purchase…