Payment in full was due December 30, 2000. Plaintiff has not paid the loan and now seeks to enjoin foreclosure. He maintains he was unable to secure SBA financing to repay the loan because his brother, with defendant's assistance began operating a competing business which caused a decline in plaintiff's business. He also asserts that defendant made an oral promise that he would delay foreclosure. The evidence in opposition strongly refutes these contentions.
Defendant unequivocally denies any oral promises regarding loan extensions or foreclosure delays.
His actions support his denial. For example, he sent written notice to plaintiff in August 2000 that the loan was due and payable in December 2000. There is no evidence that repayment of the loan was contingent on SBA financing. Certainly such a contingency was not included in the note and deed of trust. Defendant also declares he made no promise to delay foreclsure and such a delay would be inimical to the Family Trust, the source of the loan.