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FIRST FED. SAV. v. DARDANELLA FINANCIAL

No. 14092.

351 N.W.2d 460 (1984)

FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF SIOUX FALLS, Plaintiff and Appellee, v. DARDANELLA FINANCIAL CORPORATION, a South Dakota Corporation; Lee O. Rensberger and Betty Lou Rensberger, Defendants and Appellants, and Forest Home Cemetery Association; Minnehaha County, South Dakota; and The City of Sioux Falls, South Dakota, a Municipal Corporation, Defendants.

Supreme Court of South Dakota.

Decided July 11, 1984.

Attorney(s) appearing for the Case

Edward J. Leahy, of May, Johnson, Doyle & Becker, Sioux Falls, for plaintiff and appellee.

James R. Myers and James R. Feyder of Simons, Gibbs, Feyder & Myers, Sioux Falls, for defendants and appellants.

MYDLAND, Circuit Judge.

This is an appeal from that portion of a summary judgment of a real estate foreclosure which granted the mortgagee interest at the rate of 18 percent on the sum any redemptioner would be required to pay to redeem the real property foreclosed. We reverse.

Dardanella Financial Corporation (Dardanella) and Lee O. Rensberger executed a promissory note to the First Federal Savings and Loan Association of Sioux Falls (First Federal) dated...

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