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B-181432 1 (1977-02-04)

handle is hein.gao/gaobaddws0001 and id is 1 raw text is: I t D5aiUION FILE: t61432 I THE rCOMPTOLLN WMENAN0L rn cw OF-HE UNITED STAkTES I WABHINGTON. 0. . aC548 NTiV DATE: '1 FEB 4 1977 MATTER OF: Casemrse 1ek ot St. Charml, Mianirt DIGEST: ha1 d imese Malustratiec (W) is net liebLu to rehberse baA hr $17,300 less bak Pufiered a $23,000 Lea it allegedly ms b m bne s bernwe on basis of 5BA amwval of $25,000 diet diasster tan to barrwer. Under previain n Loan Authorisattem autriutng SA to camel loan upon learning of any adverse ensge to borwr' u situaton, SaA was justified it senelliag beltese 4t Laea upo leant@as1 ash adverse saps. FrLhemore, facts do nt upprt estoppel stace SA made n misrepsenations to bak Sd bek did set make 1sa in relianc On those rpren tatia =A did make. This da&saie to the Admietrater of the eall business Admin- istration (SW) ato napeme to a request ins WS' General Couasl for our opinise as to wether fta is liable to the Coamerce Bank of St. Charles in the ameant et $17,500. The facts concerning this matter are set forth ta followin t SA'. submissions An applicatien we made by Nidestero Diversified Industries, lce. (Midwest), for a 425,000 diret disaster lose July 31, 1973. The lon was officially apptwved by the SS through the aigring of an Author- isation on October 9, 1973 * * *. The loan Author- isation provided various coeditions for payment iocluding a rquirement that the SM recive a second dead of trust ton) property located at 433-513 Cape bock Drive1 Cape Girardsu, Miscourt. Prior to the issuance of the above*cwantioned Author- isation, the Beak bad agreed to 1, mn $25,000 to Midwest. The SA was awr of this prior to its Authorisation. The loan was made by the Commerce bank of St. Charles, St, Charles, Missmurt (Beak) but the exact date of dibursement is not known. ce; *tJ 9, - I - *' I / 00 a, A.

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