Oregon Bank v. Hildenbrand

Plaintiff brought this action to reinstate and foreclose a second mortgage on property previously owned by defendants Hildenbrand.1 Plaintiff alleges that the mortgage secures a promissory note executed by defendants John F. Hildenbrand, Anthony J. Coyle and James Spencer.2 The trial court granted summary judgment in favor of defendant Buckley, Johnson, Carlson and Bolen, P.C. (Buckley), holding that it had a prior lien on the property. From the ensuing judgment, plaintiff appeals. We reverse and remand.

On November 17,1981, The Fifth Season, Inc. (Fifth Season) borrowed $50,000 from plaintiff…