Reeder Special School District No. 3 v. Molland

Christianson, Oh. J.

Plaintiff brought this action to foreclose a mortgage upon certain land in Bowman county in this state. The mortgage was executed and delivered by the defendants to the First State Bank of Reeder on July 31, 1931, to secure the payment of a note in the sum of $1000.00. Thereafter the First State Bank of Reeder became insolvent and proceedings were instituted by the Attorney General to wind up its affairs. In such proceeding a receiver was appointed and the assets of the bank, including the above mentioned note and mortgage, came into the possession of the receiver.

At the…