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LEXINGTON STATE BANK v. MILLER

No. COA99-739.

529 S.E.2d 454 (2000)

LEXINGTON STATE BANK, Plaintiff, v. Peggy Ellington MILLER, Individually, and Peggy E. Miller, Executrix of Estate of Larry Eugene Miller, Sr., Miller Dodge, Inc. (formerly Welborn Motors, Inc.), and J. Brooks Reitzel, Jr., Defendants.

Court of Appeals of North Carolina.

May 2, 2000.

Attorney(s) appearing for the Case

Brinkley Walser, PLLC, by Charles H. McGirt, Lexington, for plaintiff-appellee.

Metcalf & Beal, L.L.P., by W. Eugene Metcalf, Winston-Salem, for defendant-appellants Peggy E. Miller, individually and as executrix, and Miller Dodge, Inc.

No brief filed for defendant-appellant J. Brooks Reitzel, Jr.

LEWIS, Judge.

On 25 July 1994, defendant Peggy Miller and her husband Larry, now deceased, borrowed $158,000 from plaintiff ("the personal loan"). This loan was secured by a deed of trust on certain real property owned by the Millers. On 23 September 1994, the Millers, as owners of defendant Miller Dodge, Inc., obtained a company loan in the amount of $84,781.64 ("the company loan"). This loan was secured by three pieces of collateral: (1) a deed of trust on certain...

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