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MATTER OF MYKLEBUST

Bankruptcy No. MM11-81-01101.

26 B.R. 582 (1983)

In the Matter of Paal MYKLEBUST and Ragnhild Myklebust, Debtors.

United States Bankruptcy Court, W.D. Wisconsin.

January 25, 1983.

Attorney(s) appearing for the Case

Carl J. Rasmussen, Boardman, Suhr, Curry & Field, Madison, Wis., for debtors.

Christopher G. Wren, Tod B. Linstroth, Michael, Best & Friedrich, Madison, Wis., for creditor Edward Kraemer & Sons, Inc.

ROBERT D. MARTIN, Bankruptcy Judge.

In November of 1975, chapter 11 debtors Paal and Ragnhild Myklebust entered into a mineral lease with Edward Kraemer & Sons, Inc. (Kraemer). The lease was to run for ten years from July 23, 1976. The terms of the lease required Kraemer to pay debtors a minimum of $10,000 in $2,000 installments over the first five years of the lease, along with a royalty, which is currently 23 cents per cubic yard of sand and gravel extracted...

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