Community State Bank, Paton v. Cottington

NEUMAN, Justice.

This appeal involves postjudgment proceedings in a farm foreclosure. The controversy centers on the receiver’s claimed right to lease the land during the redemption period pursuant to the provisions of a consent decree, even though the mortgagee waived a deficiency judgment. The trial court interpreted the decree in the receiver’s favor and the mortgagors have appealed. We affirm.

In October 1984, appellee Community State Bank filed an action to foreclose mortgages it held on land owned by appellants Merrill and Carolyn Cottington. A receiver was appointed to collect rents and…