Driever v. Shephard

Edward M. Bertha (hereafter called defendant) appeals from an order approving the receiver’s final report entered in a partial foreclosure proceeding* of a first trust deed, in which C. J. Driever was complainant. Defendant is the holder of a second trust deed and bonds and challenges four payments aggregating $14,707.22 made by the receiver, Foreman State Trust & Savings Bank, to be applied on the principal, interest and income tax payments, pursuant to the terms of the first trust deed.

The first trust deed secured an issue of bonds aggregating $175,000 and provided that the holder of any…