Casey v. Valley Savings Bank

Miller, C. J. —

The real estate involved herein is known as the Stratford Hotel in Des Moines, Iowa. Defendant bank acquired title thereto in 1934 following foreclosure of a mortgage. The property is used as a hotel. Defendants John and Kate M. Rolfsema have operated the hotel continuously since 1931 and were in possession as tenants for that purpose when the bank acquired title to the property. On December 17, 1936, the bank entered into a written lease with the Rolfsemas for the period January 1, 1937, to April 1, 1942, at a monthly rental of $250 during 1937, $300 during 1938 and 1939, $350…