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Civil Law and Land Titles and Deeds
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To forestall foreclosure on a parcel of land owned by Rafael Santos, SecureBank Mortgage Co. holds a mortgage on the property to secure a loan of 6,000,000. OmniSure Insurance Co., through a guarantee agreement with Rafael and SecureBank, pays the overdue installments in full to SecureBank. By a separate written instrument, OmniSure is expressly subrogated to SecureBank’s rights against Rafael. Rafael refuses to reimburse OmniSure.