First Fidelity Bank, N.A. v. Bock

OPINION

MacKENZIE, P.J.Ch.

The court reserved decision on June 24, 1994, after hearing oral argument on cross-motions for summary judgment. The court now grants plaintiffs motion and denies defendant Terra Vest’s motion, for the reasons set forth below.

The facts are clear and uncontroverted. On November 17,1987, plaintiff First Fidelity Bank made a loan to defendants George and Carol Bock, in the amount of $55,000. The loan was secured by a second mortgage, dated November 17,1987, and recorded on December 9, 1987. The date of maturity was June 23, 1991.

*174Defendant Terra Vest obtained a judgment…