Appealed from the Twenty-Sixth Judicial District Court for the Parish of Bossier, Louisiana. Trial Court No. 142,820. Honorable Jeff Cox, Judge.
NEWMAN, MATHIS, BRADY & SPEDALE, By: Mark C. Landry, Counsel for Appellant, CadleRock Joint Venture, L.P.
WEINER, WEISS & MADISON, By: R. Joseph Naus, M. Allyn Stroud, Counsel for Appellees Brian E. Bristow and Holly Bristow.
PATRICK R. JACKSON, APLC, By: Patrick R. Jackson, Counsel for Appellees J. Graves Scaffolding Co., Inc., J.W. Graves Enterprises, Inc., Eddie T. Scott and Karen P. Scott.
DAYE, BOWIE & BERESKO, By: Ralph Scott Bowie, Counsel for Appellee Michael M. Allen.
GARTH J. RIDGE, Counsel for Appellees John Glen Tyler and Doris L. Tyler.
Before CARAWAY, MOORE and LOLLEY, JJ.
[49,475-CA La.App. 2 Cir. 1]
CadleRock Joint Venture LP appeals a judgment dismissing, on exceptions of prescription, its suit for a deficiency judgment. For the reasons expressed, we affirm.
The original borrower, J. Graves Scaffolding Inc., obtained a line of credit from Bank One La. in May 1999. It executed a collateral mortgage note in the principal sum of $500,000, encumbering two industrial tracts on West 62nd St. in Shreveport; an act of collateral mortgage, paraphed ne varietur for identification with
the collateral mortgage note; and a collateral pledge agreement, all in favor of Bank One La. The other defendants executed commercial guarantees, making them solidarily liable for any debts incurred on the credit line.
J. Graves Scaffolding borrowed money on the credit line, executing promissory notes (" the hand notes" ) for $2,087,824 and $700,000 on February 27, 2002. By this time, Bank One La. had merged into Bank One NA; ...