Midwest Federal Savings Bank v. Symington

LEVINE, Justice.

Paul S. Symington (Symington) gave three mortgages to Midwest Federal Sav- togs Bank (Midwest) on a 64-unit three-building apartment complex called St. James Place Apartments. In September 1984 Symington defaulted on his payment obligations. In anticipation of foreclosure, Midwest moved for appointment of a trustee to manage the property during the redemption period, under NDCC § 32-19.2-01. Symington and Midwest agreed to November 1985 to appoint Bush-ee Property Management, Inc. (the trustee) as trustee to perform all functions specified to NDCC § 32-19.2-02 with the…