Eddy v. Home Federal Savings & Loan Ass'n

This is an appeal from a judgment rendered in an action for declaratory relief which upheld the validity of a clause in a deed of trust executed by plaintiffs to secure their promissory note, dated July 15, 1938, in the sum of $1,968, payable to defendant.

Defendant is a federal savings and loan association organized under the Home Owners Loan Act, 1933, as amended. (48 Stats. 132; title 12, U.S.C.A. secs. 1464 et seq.) Charles K. Fletcher was president and general manager of defendant. He was also agent of a fire insurance company authorized to issue fire insurance policies. He received a…