Ortega, Jose A. and Rene Ortega as Individuals and D/B/A Ortega Farms a Partnership v. City National Bank

CourtCourt of Appeals of Texas
DecidedJanuary 23, 2003
Docket13-00-00064-CV
StatusPublished

This text of Ortega, Jose A. and Rene Ortega as Individuals and D/B/A Ortega Farms a Partnership v. City National Bank (Ortega, Jose A. and Rene Ortega as Individuals and D/B/A Ortega Farms a Partnership v. City National Bank) is published on Counsel Stack Legal Research, covering Court of Appeals of Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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Ortega, Jose A. and Rene Ortega as Individuals and D/B/A Ortega Farms a Partnership v. City National Bank, (Tex. Ct. App. 2003).

Opinion

                                   NUMBER 13-00-064-CV

                             COURT OF APPEALS

                   THIRTEENTH DISTRICT OF TEXAS

                                CORPUS CHRISTI

JOSE A. ORTEGA AND RENE

ORTEGA AS INDIVIDUALS AND

D/B/A ORTEGA FARMS, A PARTNERSHIP,                             Appellants,

                                                   v.

CITY NATIONAL BANK,                                                          Appellee.

                        On appeal from the 206th District Court

                                  of Hidalgo County, Texas.

               OPINION ON MOTION FOR REHEARING

                    Before Justices Hinojosa, Castillo, and Amidei[1]

                                  Opinion by Justice Castillo


We grant appellee=s motion for rehearing, withdraw our opinion issued August 31, 2001, and substitute the following in its place.

Jose and Rene Ortega (Athe Ortegas@)[2] sought financing for their farming operations from City National Bank (Athe Bank@).  When the bank refused to extend a line of credit over and above that already extended, the Ortegas sued.  The summary judgment from which this appeal arises granted a take-nothing judgment against appellants and judgment in favor of the Bank on its counterclaim for judicial foreclosure of its security interest on each of three notes.  The summary judgment awarded the Bank liquidated damages in the amount of $302,637.78.  Appellants assert the trial court erred in granting summary judgment against their claims of breach of contract, negligence, and fraud.  We affirm.

FACTUAL BACKGROUND

In May of 1995, the Bank loaned the Ortegas $93,800 for the 1996 crop year.  A guarantee of the loan was provided by the Farm Service Agency (the AFSA@).[3]  The Ortegas made no payment on the loan.  Despite the non-payment of the 1995 loan, in January of 1996, the Bank made another loan to the Ortegas for $115,000.00.  This loan was also guaranteed by the FSA and provided that Athis promissory note will be used for three consecutive crop years, with [the] second and third years being


 advanced only aftger [sic] preceding crop year[>]s advance has been paid in full.@  That same month, the Bank restructured the 1995 loan as a five-year amortization with a three-year balloon.  The Ortegas failed to repay the entire amounts due for the 1995 and 1996 loans, although they did receive some crop insurance proceeds which were turned over to the Bank.  In August of 1996, a vice president of the Bank applied part of a $49,000 insurance check to the 1995 debt and part to the 1996 line-of-credit debt.[4]  Another insurance check was applied to the 1996 line- of-credit debt.  Needing money to secure a lease agreement on 300 acres of land used for their farming operations, the Ortegas  requested financing from the Bank for the 1997 crop year.  In September of 1996, the Bank notified the Ortegas by letter that, at that time, it was denying a request for a non-FSA guaranteed direct line of credit from the bank, due to drought conditions in the Rio Grande Valley and the uncertainty of the availability of sufficient water.  In December of 1996, FSA informed the Ortegas that the 1997 advance on the FSA-guaranteed line of credit could not be extended because the Ortegas did not meet the necessary debt-credit ratio required to secure an FSA guarantee.  The Bank then reversed the application of the August insurance proceeds to the 1995 loan, applied those funds to the 1996 line of credit, and pushed back the due date on the 1995 loan.  These actions altered the Ortegas= debt-credit ratios sufficiently to allow them to qualify for a FSA guarantee of a 1997 line of credit.


In May of 1997, the Ortegas sued the Bank, claiming that the Bank=s initial application of a portion of the insurance funds toward the 1995 debt, rather than the 1996 line of credit, directly caused the FSA=s rejection of the loan renewal package in late 1996 and Ortega=s subsequent loss of the ability to lease the 300 acres that they had been unable to secure.  The Ortegas alleged breach of contract, breach of the duty of good faith, negligence, and fraud under the Deceptive Trade Practices Act.[5] 

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