Crestview, Ltd. v. Foremost Insurance Co.

POWERS, Justice.

This appeal is taken from the trial court’s denial of a temporary injunction. Appellant, Crestview, Ltd., purchased an office building encumbered by the lien of a recorded deed of trust. The deed of trust secured a promissory note made by Crest-view’s grantor and held by appellee, Foremost Insurance Company.1 The deed of trust contained this agreement:

“In the event Grantors, or any owner of the Mortgaged Premises, without first obtaining approval of Noteholder (which approval shall not be unreasonably withheld), should sell or otherwise dispose of the Mortgaged Premises, or…