First International Bank & Trust v. Peterson

20090214 First International Bank & Trust, Plaintiff and Appellant
v.
D. Duane Peterson, MID AM Group,
LLC, James R. Bullis, Kevin L.
Christianson, Richard R. Jordahl,
Arlan H. Anderson, Greg Anderson,
and Robert Green, Defendants and Appellees
-----------
Douglas H. Peterson, Defendant

Appeal from: District Court, East Central Judicial District, Cass County
Judge Frank L. Racek
Nature of Action: Contracts
Counsel:
Appellant: Roger James Minch
Appellee: James R. Bullis
Appellee: Todd Ervin Zimmerman
Appellee: Paul A. Sortland
Appellee: Matthew Allen Kipp
Term: 11/2009   Argument: 11/09/2009  10:00am
ND cite: 2009 ND 207
NW cite: 776 N.W.2d 543

Listen to recording of oral argument in MP3 format

Issues: Appellant's Statement of the Issues:
First International Bank & Trust, the Plaintiff/Appellant ("FIB") presents this issue: (1) Must courts enforce a contract where parties have been paid to guarantee payment of mortgage indebtedness remaining after a foreclosure sale, as the guaranty states, and where they were warned that they would remain liable after a purchase at the Sheriff's Sale on Foreclosure by the mortgage?

Appellee's Statement of the Issues:
Where the Bank bid in the full amount of the indebtedness for a successful purchase of the property at a foreclosure sale, whether there remains any indebtedness to be pursued against the guarantors?

Issues of Anderson, Anderson & Green
[1] Is a personal guaranty extinguished when the lender purchases the underlying mortgaged property for the full amount of the underlying debt without establishing the fair market value or any deficiency as allowed by N.D.C.C.  32-19-06.1?

Issues of Bullis, Christianson & Jordahl
[1] Defendants Bullis, Christianson and Jordahl (the "Christianson Defendants") present this issue: Does liability exist under a personal guarantee of a real estate loan after a foreclosure sale, where the underlying indebtedness has been paid in full and no deficiency exists?

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Docket entries:
107/20/2009 NOTICE OF APPEAL: 07/16/2009
208/19/2009 RECORD ON APPEAL & Separate Nos. 1 & 52 (Not rec'd: 7, 23, 47, & 68--tapes)
308/25/2009 APPELLANT BRIEF (E-Filed)
408/25/2009 E-FILED BRIEF (ATB)
508/25/2009 APPELLANT APPENDIX (E-filed)
608/25/2009 E-FILED APPENDIX (ATA)
708/26/2009 Received $25 surcharge for ATB & $80.50 surcharge for ATA (Receipt Nos. 18973 & 18974)
808/28/2009 Received copies of ATB from CSD
908/28/2009 Received copies of ATA from CSD
1009/23/2009 APPELLEE BRIEF-D.DUANE PETERSON & MID AM GROUP, LLC
1109/24/2009 DISK-AEB-D.DUANE PETERSON & MID AM GROUP, LLC
1209/24/2009 APPELLEE BRIEF (Bullis, Christianson & Jordahl)(E-filed; PDF)
1309/24/2009 E-FILED BRIEF (AEB of Bullis, Christianson & Jordan)(PDF)
1409/25/2009 APPELLEE BRIEF - Anderson, Anderson, & Green (E-filed)
1509/25/2009 E-FILED BRIEF (AEB of Anderson, Anderson & Green)
1609/28/2009 Received $25 surcharge for e-filed AEB of Anderson, Anderson & Green (Receipt #19008)
1710/01/2009 Received 7 copies of AEB of Anderson,Anderson & Green from CSD
1810/02/2009 Rec'd proof of svc. of AEB-D. Duane Peterson & Mid Am Group
1910/05/2009 Received $25 surcharge for AEB of Bullis, Christianson & Jordahl (Receipt #19021)
2010/12/2009 Received 7 copies of AEB of Bullis, Christianson & Jordahl from CSD
2110/12/2009 REPLY BRIEF of Appellant (E-filed) (PDF)
2210/12/2009 E-FILED BRIEF (RYB) (PDF)
2310/14/2009 Received 7 copies of RYB from CSD
2410/20/2009 NOTICE OF ORAL ARGUMENT SENT
2511/09/2009 APPEARANCES: Roger J. Minch/James R. Bullis & Todd E. Zimmerman
2611/09/2009 ARGUED: Minch/Bullis/Zimmerman
2711/09/2009 ORAL ARGUMENT WEBCAST
2812/15/2009 DISPOSITION: AFFIRMED
2912/15/2009 UNANIMOUS OPINION: VandeWalle, Gerald W.
3012/15/2009 Costs on appeal taxed in favor of Appellee.
3112/16/2009 Judgment Sent to Parties
3212/16/2009 Corrected Opinion Page 7, para 15, line 16.
3301/11/2010 MANDATE
3401/21/2010 RECEIPT SIGNED BY DISTRICT COURT CLERK'S OFFICE

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