FARM CREDIT BANK OF ST. LOUIS v. BROWN

No. 5-90-0538.

577 N.E.2d 906 (1991)

217 Ill. App.3d 730

160 Ill.Dec. 581

FARM CREDIT BANK OF ST. LOUIS, as Successor to the Federal Land Bank of St. Louis, Plaintiff-Appellant, v. McKinley Andrew BROWN, a/k/a Mac Brown, Individually; as Executor of the Estate of Loren Brown, Deceased; as Trustee and as Remainder Beneficiary of a Testamentary Trust provided in the Will of Loren Brown, Deceased; and as Surety under an Executor's Individual Bond of the Will of Loren Brown, Deceased, probated in the First Judicial Circuit, Williamson County, Illinois, Case No. 83-P-71; Beth M. Brown, Individually; as Residual Beneficiary of a Testamentary Trust provided in the Will of Loren Brown, Deceased; and as a Lifetime Beneficiary of a Testamentary Trust provided in the Will of Loren Brown, Deceased, probated in the First Judicial Circuit, Williamson County, Illinois, Case No. 83-P-71; and Ann Elizabeth Hurst, as Remainder Beneficiary of a Testamentary Trust provided in the Will of Loren Brown, Deceased, probated in the First Judicial Circuit, Williamson County, Illinois, Case No. 83-P-71; Unknown Heirs and Devisees of Loren Brown; Defendants-Appellees.

Appellate Court of Illinois, Fifth District.

August 26, 1991.


Attorney(s) appearing for the Case

Terry Sharp, William K. Richardson, Law Office of Terry Sharp, P.C., Mt. Vernon, for plaintiff-appellant.

Edward J. Heller, Reed, Heller and Mansfield, Murphysboro, for defendants-appellees.


Presiding Justice RARICK delivered the opinion of the court:

Plaintiff, Farm Credit Bank (FCB), brought an action in the circuit court of Williamson County against the defendants seeking to recover monies owed on a promissory note. The note in question had been secured by a mortgage on certain farm ground. When the note went into default, FCB foreclosed on the mortgage and the property was sold. Because the proceeds of the sale were insufficient to pay off the outstanding...

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