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HOLIDAY ACRES NO. 3 v. MIDWEST FEDERAL, ETC.

No. 50637.

308 N.W.2d 471 (1981)

HOLIDAY ACRES NO. 3, a partnership, Respondent, v. MIDWEST FEDERAL SAVINGS AND LOAN ASSOCIATION OF MINNEAPOLIS, Appellant.

Supreme Court of Minnesota.

Rehearing Denied August 5, 1981.

Attorney(s) appearing for the Case

Hessian, McKasy & Soderberg, Thomas E. Harms and John A. Knapp, Minneapolis, for appellant.

Holmes & Graven, David L. Graven and Larry M. Wertheim, Minneapolis, for respondent.

Jonathan K. Heffron, Washington, D.C., for Federal Home Loan Bank Bd.

Faegre & Benson, James A. Dueholm and James G. Ray, Minneapolis, for Savings League of Minnesota.

Robins, Davis & Lyons, James R. Safely and Leslie H. Novak, Minneapolis, for Minnesota Ass'n of Realtors.

Heard, considered, and decided by the court en banc.

WAHL, Justice.

Midwest Federal Savings and Loan Association of Minneapolis (hereinafter Midwest Federal) appeals from a declaratory judgment 1 of the Dakota County District Court which declares the due-on-sale clause contained in the mortgage agreement between Midwest Federal and respondent Holiday Acres No. 3 (hereinafter Holiday Acres) null and void as an unlawful restraint upon the alienation of property and restrains the exercise by...

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