State Bank of Kenmare v. Lindberg

VANDE WALLE, Justice.

Layne Lindberg and Barbara Lindberg appealed from an order and judgment entered in the district court for Burke County granting the State Bank of Kenmare summary judgment on a counterclaim filed by the Lindbergs. We affirm.

The original action and counterclaim stem from a loan of $204,448.73 made by the Bank to the Lindbergs in April 1985. To secure the loan, the Lindbergs gave the Bank a mortgage on farm land they were purchasing and a mortgage on an oil well known as Kok 1-13, as well as an assignment of production payments from the well. The Lindbergs executed a note…