First Trust Joint Stock Land Bank v. Ver Steeg

On June 7, 1935, plaintiff filed the petition in this action to foreclose its mortgage. Previously, on April 4, 1935, defendant Henry G. Yer Steeg, owner of the mortgaged land, had leased same to his son Harvey Ver Steeg. The term of the lease was from March 1, 1935, to March 1, 1937. The agreed rental was $1,200 per year. On the day following its execution Henry G. Ver Steeg assigned the lease to defendant Jacob Borgeman. As part of the foreclosure plaintiff sought the appointment of a receiver and application of the rentals on the mortgage debt. Defendants made resistance thereto on the…