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FIRST FEDERAL S. & L. ASS'N, ETC. v. MYRICK

No. 81-6095.

533 F.Supp. 1041 (1982)

FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF HARRISON, ARKANSAS, an association organized and operating as an instrumentality of the United States of America pursuant to Sec. 5(a) of the Home Owners' Loan Act of 1933, as amended 12 U.S.C. Sec. 1464(a), Plaintiff, v. James L. MYRICK and Lois C. Myrick, his wife; David A. Boss and Cheryl L. Boss, his wife, Defendants, v. COOPER HOMES, INC., Third-Party Defendant.

United States District Court, W. D. Arkansas, Hot Springs Division.

February 23, 1982.

Attorney(s) appearing for the Case

Frank H. Bailey, Bailey & Paden, Mountain Home, Ark., for plaintiff.

Stuart W. Hankins, Hankins, Hicks & Madden, North Little Rock, Ark., for defendants Myrick.

Michael G. Thompson, Friday, Eldredge & Clark, Little Rock, Ark., for third-party defendant.

MEMORANDUM OPINION

WATERS, Chief Judge.

This is an action in which a federally chartered savings and loan institution seeks a declaration that the due-on-sale clause of its mortgage is valid and enforceable against defendants, Mr. and Mrs. James Myrick and Mr. and Mrs. David Boss. The case is before the Court on the motions for summary judgment of plaintiff, First Federal Savings and Loan Association of Harrison, Arkansas, and the defendants, Mr. and Mrs...

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