First Security Bank of Brookfield v. McClain

LARSON, Justice.

Defendant, Minnie I. McClain, appeals from a summary judgment for the First Security Bank on a loan guaranty agreement. We affirm.

On April 5, 1982, Minnie McClain executed a written guaranty in favor of First Security Bank guaranteeing the indebtedness of her son, Arnold McClain, and his wife Cheryl. The limit of her guaranty was $50,000. On April 8, 1982, Arnold and Cheryl borrowed $50,000 from First Security. On December 10, 1982, they borrowed an additional $70,424 from the bank, securing it with a mortgage on real estate in Dickinson County, Iowa.

On April 5, 1985, the bank…