State Mutual Life Assurance Co. of America v. Frantz Klodt & Son, Inc.

Appeal from an order of the Hennepin County District Court denying appellant’s motion for an appointment of a receiver pendente lite. We affirm.

This case involves an apartment complex on East Franklin Avenue in Minneapolis. Construction was financed by a $1,900,000 loan, evidenced by a note dated November 27, 1968, between respondents Franklin Park Towers Corporation (Franklin Park) and Frantz Klodt & Sons, Inc. (FKSI) as makers, and the First National Bank of Minneapolis (First National) as payee. The loan is secured by a mortgage and an assignment of rents executed on the same date, between…