Woodmen of the World Life Insurance Society v. Sears, Roebuck & Co.

Peterson, Justice.

Defendant G. P. Schoenfelder, owner of real estate developed as a shopping center complex in Rochester, Minnesota, was the mortgagor (by assignment) in a mortgage on the real estate to plaintiff, Woodmen of the World Life Insurance Society (hereafter Woodmen), and the lessor (by assignment) in a long term lease of a major segment of the center to defendant Sears, Roe buck and, Co. (hereafter Sears). By agreement made contemporaneous with execution of the mortgage, the Sears lease, which obligated the lessor to pay the real estate taxes, was assigned to Woodmen as additional…