Author: paloma

08 nov Crowe v. Covington count on Banking Co. attraction from Kenton routine judge; common-law and assets unit.

Thoughts

Rodney G. Bryson, Assess.

Sawyer A. Smith for appellant.

Rouse, Cost Adams for appellee.

THOUGHTS ASSOCIATED WITH THE COURT BY ASSESS RATLIFF

Ones appellant, J.M. Crowe, is the master of 5/20 (1/4) for the stock on the Barrington Woods Realty Company, a corporation, hereinafter called the realty company. On March 22, 1922, the realty company lent of appellee, The Covington depend on and financial organization, hereinafter known as bank, the sum of the $13,000 confirmed by thirteen $1,000 records payable on or before three-years after big date, and protected same by a first financial throughout the homes of the realty organization. Before the mortgage is consummated, in addition to the mortgage about property, the stockholders regarding the realty company, like appellant, executed and delivered to the financial institution here crafting:

"This Agreement Witnesseth:

"That, Whereas, The Barrington Woods Realty business, an agency according to the laws on the county of Kentucky, was desirous of acquiring from The Covington Savings Bank and Trust providers, of Covington, Kentucky, financing in the sum of $13,000.00, said mortgage are guaranteed by home financing on house of said Realty organization in Kenton region, Kentucky, and

"Whereas, the stated Covington benefit lender and confidence organization was ready to generate said loan, given all of the stockholders of said Realty team concur in writing towards delivery of mortgage securing said loan, and additional say yes to indemnify mentioned Savings Bank and believe organization against any control, price or costs by cause of creating of said financing;

"Now, Therefore, in consideration in the generating of said loan by stated Savings Bank and count on team to said Realty team, the undersigned, are all of the stockholders of said Realty business, would hereby consent towards execution of said mortgage and further say yes to keep the said The Covington benefit Bank and rely on team safe and safe from any control, cost or cost that may occur by explanation for the approving of said mortgage, mentioned assurance staying in percentage towards the holdings associated with the several stockholders in said Realty team, the following: