United Postal Savings Ass'n v. Norbob Enterprises, Inc.

STEPHAN, Judge.

United Postal Savings Association brought this action against Norbob Enterprises, Inc. to collect unpaid prepayment penalties on two promissory notes. The trial court granted summary judgment in favor of United Postal and Norbob appeals.

The facts surrounding the two notes are somewhat confusing. The first promissory note (Note A) was executed by Marie Day on April 1, 1976. The note named Lafayette Federal Savings and Loan Association as payee, and was in the principal amount of $438,000.00. Marie Day also executed a deed of trust in favor of Lafayette pledging certain real…