Dick & Reuteman Co. v. Jem Realty Co.

The following opinion was filed June 21, 1937:

Wickhem, J.

The mortgaged premises consist of a three-story-and-basement apartment building containing thirty-six *431separate apartments. No part of the premises constituted a homestead, and the premises were operated by the defendant mortgagor as a business enterprise. The trust deed was dated January 18, 1929, and secured a bond issue aggregating $90,000. The deed provided for retirement of principal in semiannual instalments of $2,000 from June 18, 1931, to December 18, 1934; semiannual instalments of $3,000 from that date to June 18, 1937;…