Jennings Realty Corp. v. First National Bank of North Vernon

CONOVER, Judge.

Jennings Realty Corporation (Jennings) appeals the trial court's judgment declaring a second mortgage placed on its real estate by its lessees, Jack and Barbara Connaugh-ton (Connaughtons), as mortgagors, in favor of Defendants-Appellees First National Bank of North Vernon (First National), as mortgagee, and United States of America-Small Business Administration (S.B.A.), as assignee, valid.

We reverse and remand.

ISSUES

Because we reverse, we address only the following issue:

Whether the trial court erred in holding valid a second mortgage between the Con-naughtons, lessees and…