Where a bank sought a declaration that it was not required to deliver a full deed of release on property that the appellants contracted to sell for less than the amount of debt secured by it, the attempted sale, to an entity controlled by the appellants for less than fair market price, violated the implied covenant of good faith, and the bank was entitled to enforce its rights under the deed of trust, including the power of sale.
Judgment is affirmed.
Hawthorn Bank v. F.A. L. Investments, LLC (MLW No. 66959/Case No. WD77057 – 12 pages) (Missouri Court of Appeals, Western District, Welsh, J.) Appealed from circuit court, Cole County, Joyce, J. (Michael Berry and Marshall Wilson, Jefferson City, for appellants) (James Gallaher III and Jason Call, Jefferson City, for respondents).
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