G.G.C. Co. v. First National Bank of St. Paul

KELLY, Justice.

In an action by G.G.C. Co. (the corporation), mortgagor, to restrain the First National Bank of St. Paul (the Bank), mortgagee, from collecting rents from an apartment complex during the period of redemption following the Bank’s purchase of the property at a foreclosure by advertisement sale, intervenor, Melvin C. Gittleman, appeals from the judgment against the corporation. The Bank seeks review of the denial of its motion to have judgment entered against Gittleman.'

The issues raised are whether an assignment-of-rents clause contained in a mortgage remains enforceable after a…