Knosby v. First Iowa State Bank

SNELL, Presiding Judge.

Plaintiffs Joe and Lila Knosby are the owners of a 480-acre tract of land in Monroe County. On October 15, 1982, they leased this land to Patrick Riordan from October 15, 1982, until January 1, 1990. The written lease agreement provides in pertinent part:

4. Tenant agrees to provide to the Landlord a first lien on all crops grown on the premises to the amount of the interest of the Tenant.

The land was placed in the federal government’s 1983 Payment In Kind Program (hereinafter PIK). On February 10, 1983, Joe Knosby signed an ASCS form stating that he claimed a zero…