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NICHOLS v. SHELARD NAT. BANK

No. 50018.

294 N.W.2d 730 (1980)

Richard O. NICHOLS et al., Respondents, v. SHELARD NATIONAL BANK, Defendant and Counterclaimant, Appellant, v. Richard O. NICHOLS et al., Defendants on Counterclaim, The Farmers and Mechanics Savings Bank of Minneapolis, Defendant on Counterclaim, Respondent.

Supreme Court of Minnesota.

Rehearing Denied August 1, 1980.

Attorney(s) appearing for the Case

Maslon, Kaplan, Edelman, Borman, Brand & McNulty and William Z. Pentelovitch, Minneapolis, for appellant.

Tanick & Heins and Marshall H. Tanick, Minneapolis, for Nichols, et al.

Sally I. Bans, Minneapolis, for The Farmers and Mechanics Savings Bank of Minneapolis.

Heard before OTIS, PETERSON, and WAHL, JJ., and considered and decided by the court en banc.

WAHL, Justice.

The plaintiffs, Richard and Janice Nichols, brought this action in Hennepin County District Court seeking to have a $30,000 second mortgage on their home held by the defendant, Shelard National Bank, declared null and void. The bank counterclaimed to foreclose the mortgage. The Nichols responded by requesting that the mortgage either be declared null and void or be reformed "to embody the actual agreement of the parties." The trial court, hearing the...

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