Klorfine v. Cole

IN BANC.

This is a foreclosure proceeding. The petition alleges three causes of suit, the first and second based upon mortgages, and the third grounded upon a deed given to secure an indebtedness. The property involved is a tract of real estate situate in Polk County. The following constitute the important stipulated facts in the case:

On January 7, 1924, the Ernest Wells Realty Company, an Oregon corporation, was dissolved by proclamation of the Governor for failure to pay its annual license fees, and was never reinstated. On March 29, 1924, defendants Ernest L. Wells and Vera B. Wells,…