Andersson v. Franklin Society Federal Savings & Loan Ass'n

Motion by defendant and cross motion by plaintiffs for summary judgment in an action for declaratory judgment.

The material facts are undisputed. Plaintiffs are the owners of certain real property on which defendant holds a first mortgage as extended by agreement dated January 12, 1960, wherein plaintiffs agreed in part to keep the property insured against loss by fire and other hazards “in a company or companies satisfactory to” the defendant and also agreed that ” All insurance shall be carried in companies approved by” the defendant.

Plaintiffs sought to substitute a fire insurance policy…