Metropolitan Life Insurance v. Laufersweiler

On February 28, 1935, the plaintiff filed a petition for tbe foreclosure of a mortgage executed by John Laufersweiler March 24, 1924, to secure a note for $15,000 made payable to George A. Rich. The note and mortgage were transferred to the plaintiff shortly after they were made. There was an acceleration clause for failure to pay interest, taxes, and insurance, and at the time of the commencement of the action the claim had grown to $17,576.98.

D. W. Bates, as superintendent of banking, was made a party as receiver of the First State Bank & Trust Company of Fort Dodge, Iowa, and on March 7,…