Home State Bank v. P. B. Hoidale Co.

The opinion of the court was delivered by

Miller, J.:

The plaintiff, Home State Bank, commenced this action to foreclose its mortgages. Joined as defendants were the mortgagor, Save-Time Stores, Inc., as well as P. B. Hoidale Company and others who had filed mechanics’ liens against the realty. The trial court held that two of the Bank’s mortgages were purchase money mortgages and thus superior to Hoidale’s mechanic’s lien. Hoidale appeals.

We will first give a chronological statement of the facts. In May 1982, Save-Time Stores, Inc., gave a mortgage to the Home State Bank on certain Russell…