Jermany v. Foster

October 14,1941, appellant, Z. W. Jermany, executed his note to J. I. Phelps in the amount of $605, due October 1,1942, with 10 per cent, interest. As security, he executed, on the same date, deed of trust on the property here involved. Appellant never paid anything on the note. January 30, 1945, Phelps sold and assigned the note and deed of trust to appellee, E. S. Foster. Foster, in May, 1945, brought foreclosure proceedings against appellant. Sale was had to Foster, approved, confirmed, and on November 12, 1945, Commissioner’s deed was executed to him.

Foster, in 1950, executed a lease to…