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MATTER OF FORECLOSURE OF A DEED OF TRUST

No. 366PA96.

484 S.E.2d 546 (1997)

346 N.C. 127

In The Matter of The FORECLOSURE OF A DEED OF TRUST EXECUTED BY C AND M INVESTMENTS OF HIGH POINT, INC. TO RAYMOND D. THOMAS, TRUSTEE RECORDED IN BOOK 3846 AT PAGE 1446 GUILFORD COUNTY REGISTRY.

Supreme Court of North Carolina.

May 9, 1997.

Attorney(s) appearing for the Case

Adams Kleemeier Hagan Hannah & Fouts, P.L.L.C. by M. Jay DeVaney and David S. Pokela, Greensboro, for petitioner-appellant Walker Heirs, Inc.

Elrod Lawing & Sharpless, P.A. by Frederick K. Sharpless, Greensboro, for respondent-appellee Browns Summit Development Company.

FRYE, Justice.

This appeal involves a foreclosure petition filed by Walker Heirs, Inc. regarding property in Guilford County.

The relevant facts and circumstances are as follows: On 13 November 1990, C & M Investments of High Point, Inc. (C & M), purchased 280 acres of land in Guilford County from Walker Heirs, Inc. (Walker). A purchase price of $1,258,740 was paid, $338,685 in cash and the balance financed by Walker through a promissory note in the...

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