Broaddus v. National Bank of Lancaster

HOWARD, Judge.

The appellant brings this appeal from a summary judgment granted by the Madison Circuit Court to the appellee, National Bank of Lancaster, for the interest and principal due on certain notes owed by the appellant.

On August 16, 1978, September 11, 1978, and October 16, 1978, the appellant exe*462cuted and delivered to the appellee bank three promissory notes totalling $85,000. Each note provided that it was due one year from its date at an annual interest rate of 8.5%. The appellant executed a mortgage to the bank pledging certain real property as collateral for the obligation under…