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BLAINE MOBILE MANOR, INC., v. INVESTORS SYNDICATE OF AMERICA, INC.

No. 50916.

306 N.W.2d 898 (1981)

BLAINE MOBILE MANOR, INC., Respondent, v. INVESTORS SYNDICATE OF AMERICA, INC., et al., Appellants.

Supreme Court of Minnesota, En Banc.

July 2, 1981.

Attorney(s) appearing for the Case

Bush, Swanson & Christensen and G. Craig Christensen, Minneapolis, for appellants.

Karla R. Wahl, Minneapolis, for respondent.

Considered and decided by the court en banc without oral argument.

YETKA, Justice.

Defendants Investors Syndicate of America, Inc., mortgagee, and IDS Mortgage Corporation, mortgage servicer, appeal from a judgment refunding certain amounts paid by plaintiff Blaine Mobile Manor, Inc., mortgagor, pursuant to a "participation" provision in a mortgage note. The principal question at trial was whether the term "gross income from the premises" was intended to apply to mobile home lot rentals and entrance fees only or to those items plus...

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