Nee v. L. C. Smith, Inc.

OPINION

By the Court,

Gunderson, C. J.:

This appeal and cross-appeal arise from an action seeking a declaratory judgment and foreclosure of an agreement alleged to be a mortgage. In this matter the district court (1) declared an agreement between appellant Nee and respondent L. C. Smith, Inc. to be a valid mortgage, (2) determined the note *44secured by the mortgage to be usurious, and, (3) permitted appellant Nee to foreclose against three properties secured by the mortgage which respondent L. C. Smith, Inc., had sold without obtaining releases.

Appellant Nee contends the trial court erred in…