Citywide Banks v. Armijo

Opinion by

Judge TERRY.

In this appeal, we address as a matter of first impression the applicability of Colorado's Uniform Commercial Code (UCC) seetion 4-8-801, C.R.S8.2011, to a factual seenar-io that has not been discussed in Colorado appellate case law since the 1980s.

Plaintiff, Citywide Banks (Bank), appeals the order denying its motion for sale of the property owned by defendant, Brenda L. Ar-mijo. We affirm.

I. Background

In 2003, Dakota Lending, LLC (Dakota) executed a promissory note to Bank in exchange for a revolving line of credit that allowed Dakota to borrow up to $4 million. Dakota…