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RODNEY v. ARIZONA BANK

No. 2 CA-CV 92-0043.

172 Ariz. 221 (1992)

836 P.2d 434

Theron D. RODNEY, Claimant/Cross-Plaintiff in Interpleader/Appellee, v. The ARIZONA BANK (now known as Security Pacific Bank Arizona), Claimant/Cross-Defendant in Interpleader/Appellant.

Court of Appeals of Arizona, Division 2, Department B.

Review Denied September 22, 1992.

Attorney(s) appearing for the Case

Anderson Law Offices by Michael C. Anderson and Nancy K. Anderson, Bullhead City, for claimant/cross-plaintiff in interpleader/appellee.

Polese, Hiner & Nolan by Edwin A. Hiner, Cynthia L. Fulton and Lynn M. Allen, Phoenix, for claimant/cross-defendant in interpleader/appellant.

OPINION

HATHAWAY, Judge.

FACTS AND PROCEDURAL HISTORY

The undisputed facts are as follows. In February 1985, Fernando and Alicia Vasquez (Vasquez) purchased real property in Mohave County from Hal Clonts (Clonts) for $25,000. The Vasquez gave Clonts a $25,000 promissory note (the note) secured by a deed of trust (the deed of trust) on the real property. The Vasquez and Clonts set up an account servicing agreement with State Title Company (State Title...

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