First National Bank v. Blum

Webb, Judge.

Peter E. Blum borrowed in 1974 from First National Bank $750,000, conveying as security therefor certain Atlanta property in Fulton County. By the deed to secure debt he agreed to pay all ad valorem taxes "before the same became delinquent.” Blum’s 1975 ad valorem taxes aggregated about $40,000 and he protested and requested arbitration. After appealing an adverse result to the superior court he settled the dispute with the joint city-county taxing authority and was issued an adjusted tax bill on October 21,1975. Blum did not pay any of the ad valorem taxes during the pendency of…