Sioux Falls Broadcasting Ass'n v. Henry Field Co.

In June 1936, the Sioux Falls Broadcasting Association, hereinafter referred to as appellee, obtained a judgment against Henry Field Company in the district court of Iowa in and for Page county in the sum of $5,623. In June 1930, the Henry Field Company executed a trust deed to all its property of every kind and nature to secure certain noteholders.

This deed contained the following provision for a receiver:

“It is further agreed that in the event of the commence ment of an action to foreclose this mortgage, either by the Trustee or by a stockholder as above provided, the plaintiff shall have…