O'Neill Production Credit Ass'n v. Putnam Ranches, Inc.

This is an action by plaintiff, O’Neill Production Credit Association, against the defendant, Putnam Ranches, Inc., for foreclosure of two real estate mortgages and a security interest in personal property. The District Court found that the defendant was indebted to the plaintiff in the sum of $2,634,-000.69, plus interest, and ordered foreclosure. The defendant has appealed.

The defendant is a corporation engaged in farming and ranching operations in Nebraska and South Dakota. For several years plaintiff and defendant had made arrangements in advance to take care of the defendant’s financial…