Court of Appeals of Arkansas December 5, 1990, CA 90-68 (Arkansas Teacher Retirement Sys. v. Coronado Properties, Ltd.)

John E. Jennings, Judge.

This appeal is from a judgment of the Sebastian County Chancery Court holding that appellee, a junior mortgagee, is entitled to the proceeds of a fire insurance policy. We affirm the chancellor’s ruling.

Appellant, Arkansas Teacher Retirement System (ATRS), held a note and first mortgage on an apartment project in Fort Smith.