Holt State Bank v. Hamernes

The plaintiff appeals from an order denying application for the appointment of a receiver of the property of the defendant Hamernes.

On November 17, 1921, the defendant gave the plaintiff bank a mortgage for $2,500, due July 1, 1922. It was foreclosed under the power of sale and the mortgaged property was purchased by the bank at the foreclosure sale on November 13, 1926, for $2,000, a sum more than $1,000 less than was due on the mortgage. There were delinquent taxes to the amount of $575 which were a paramount lien at the time of the foreclosure sale. The amount is the same now. The property…