Beaver Lodge Venture, a Colorado General Partnership;beaver Village Development, Inc., a Coloradocorporation; Beavers at Winter Park,inc., a Colorado Corporation,plaintiffs-appellants, v. Federal Deposit Insurance Corporation, As Receiver Forfirstsouth Federal Savings and Loan Association,defendant-appellee, Anddwr, Inc., Doing Business As Dwst, Inc., an Arkansascorporation; Snow Time Limited Partnership, Anarkansas Limited Partnership, Defendants, 21 F.3d 1120 (10th Cir. 1994)

ORDER AND JUDGMENT¹ 

After examining the briefs and appellate record, this panel has determined unanimously that oral argument would not materially assist the determination of this appeal. See Fed. R. App. P. 34(a); 10th Cir. R. 34.1.9. The case is therefore ordered submitted without oral argument.

Plaintiffs appeal the district court's grant of summary judgment to the FDIC.²  Plaintiffs originally filed suit in state court, seeking to foreclose on a deed of trust they claimed had priority over a separate deed of trust held by FirstSouth Federal Savings and Loan Association. The FDIC intervened as receiver for FirstSouth, removed the case to federal district court, and counterclaimed for foreclosure of FirstSouth's deed of trust. Following cross-motions for summary judgment, the district court held for the FDIC. On appeal, plaintiffs argue, as they did before the district court, that, although they had agreed to subordinate their lien to that of FirstSouth, the subordination should be reversed in light of the equities present in this case.

Our jurisdiction over this appeal arises from 28 U.S.C. 1291.³  We review the district court's grant of summary judgment de novo, applying the same standard as the district court, pursuant to Fed. R. Civ. P. 56(c). Applied Genetics Int'l, Inc. v. First Affiliated Sec., Inc., 912 F.2d 1238, 1241 (10th Cir. 1990). "Summary judgment is appropriate when there is no genuine dispute over a material fact and the moving party is entitled to judgment as a matter of law." Russillo v. Scarborough, 935 F.2d 1167, 1170 (10th Cir. 1991). Here, the parties agree that the underlying facts are undisputed. After careful review of the record on appeal in light of these standards, and after due consideration of the parties' briefs on appeal, we conclude that the district court correctly decided this case. Therefore, for substantially the same reasons as set forth in the district court's memorandum opinion and order dated April 20, 1993, the judgment of the United States District Court for the District of Colorado is AFFIRMED.