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FIRST FEDERAL SAV. & LOAN ASS'N v. GUILDNER

Nos. 49957, 49959.

295 N.W.2d 501 (1980)

FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF ALBERT LEA, Appellant, v. John W. GUILDNER et al., Respondents, Pickwick International Inc., Defendant. John W. GUILDNER et al., Respondents, Pickwick International Inc., Plaintiff, v. FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF ALBERT LEA, Appellant.

Supreme Court of Minnesota.

June 13, 1980.

Attorney(s) appearing for the Case

Lindquist & Vennum and Kurtis A. Greenley, Minneapolis, for appellant.

Farrish, Johnson, Maschka, Hottinger, Sheran & Salsbery and John C. Hottinger, Mankato, for respondents.

Mackall Crounse & Moore and Frederick L. Thorson, Minneapolis, amicus curiae, for Savings League of Minnesota.

Heard, considered and decided by the court en banc.

KELLY, Justice.

John and Mary Guildner brought suit seeking a court determination that a note and mortgage on commercial property given to First Federal Savings and Loan Association of Albert Lea (First Federal) in return for a loan were void for usury. First Federal counterclaimed, stating that by separate action it was going to foreclose on the mortgage, and thereafter filed such a separate action. The two cases were consolidated, and cross-motions for summary judgment...

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