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FED. DEPOSIT INS. CORP. v. FIRST MORTG. INVESTORS

No. 75-131.

76 Wis.2d 151 (1977)

250 N.W.2d 362

FEDERAL DEPOSIT INSURANCE CORPORATION, Respondent, v. FIRST MORTGAGE INVESTORS, Appellant.

Supreme Court of Wisconsin.

Decided February 15, 1977.

Attorney(s) appearing for the Case

For the appellant the cause was submitted on the brief of Godfrey & Kahn, S.C. of Milwaukee.

For the respondent the cause was submitted on the brief of Bruce C. O'Neill and Cahill & Fox of Milwaukee.

On motion for rehearing:

For the appellant a brief opposing motion for rehearing was filed by Godfrey & Kahn, S. C. of Milwaukee.

For the respondent a brief on motion for rehearing was filed by Richard S. Gibbs, William J. French and Gibbs, Roper, Loots & Williams, all of Milwaukee.

ABRAHAMSON, J.

This action arises out of a claim by American City Bank & Trust Company, N. A. (hereinafter referred to as the Bank)1 for the unpaid balance of principal and interest allegedly due under a promissory note delivered May 22, 1974, and dated May 30, 1974, given by appellant, First Mortgage Investors, a real estate investment trust (hereinafter referred to as FMI).

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