Smith v. Ambassador Holding Co.

This is an appeal from an order of the district court of Hennepin county appointing a receiver to collect rents of the Windsor Apartments pending foreclosure proceedings of a second mortgage.

A brief history of the case is as follows: On October 6, 1922, the Ambassador Holding Company owned lot 1 situated at the corner of Franklin and Third avenues south, in the city of Minneapolis. On that day it executed to the defendants, Federal Bond & Mortgage Company, Incorporated, as trustee, and Nathan M. Gross as co-trustee, a trust deed to secure a building loan of $400,000, the amount thereof to be…