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HOLASEK v. FIRST NAT. BANK OF ROCHESTER

No. 48678.

278 N.W.2d 519 (1979)

Alvin HOLASEK, et al., Appellants, v. FIRST NATIONAL BANK OF ROCHESTER, Rochester, Minnesota, Respondent.

Supreme Court of Minnesota.

Rehearing Denied May 23, 1979.

Attorney(s) appearing for the Case

Eugene A. O'Brien and Donald A. Wheat, Minneapolis, for appellants.

West, Gowan, DeBoer & McIntosh, Rochester, for respondent.

Heard before TODD, YETKA, and WAHL, JJ., and considered and decided by the court en banc.

TODD, Justice.

Alvin and Ward Holasek purchased certain motel properties in the city of Rochester under a contract for deed. At the time of their purchase, all of the real and personal property of the motel was subject to a first mortgage held by United Realty Trust (URT). Thereafter, the First National Bank of Rochester (Rochester Bank) loaned money to the motel developers and received as security certain scheduled personal property. URT subordinated its first mortgage...

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