Strimling v. Union Indemnity Co.

Olsen, C.

Appeal by defendant from a judgment.

Plaintiff purchased a note secured by a second mortgage upon real estate in Minneapolis. The mortgage was subject to a prior mortgage on which there Avas an unpaid balance of some $72,000. A large building Avas being erected upon the property, and lienable claims existed and would arise from the building operations. . As a protection and further security for plaintiff’s mortgage, the defendant had issued to the holder thereof its indemnity bond, conditioned that the defendant Avould Avell and truly pay or cause to be paid all claims for labor…