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GESA FEDERAL v. MUTUAL LIFE

No. 5941-3-III.

39 Wn. App. 875 (1985)

696 P.2d 607

GESA FEDERAL CREDIT UNION, Appellant, v. THE MUTUAL LIFE INSURANCE COMPANY OF NEW YORK, Respondent.

The Court of Appeals of Washington, Division Three.

February 28, 1985.

Attorney(s) appearing for the Case

Wayne Gladstone and Gladstone & Swisher, for appellant.

H.H. Hayner and Minnick, Hayner & Zagelow, for respondent.

HOPKINS, J.*

In December 1978 El Rancho Reata, Inc. (ERR), executed a note and mortgage on farmland located in Benton County to Mutual Life Insurance Company of New York (MONY) to secure a $700,000 loan. At the time the mortgage was executed, irrigation equipment leased from Trans Union Leasing Corporation to Columbia Pacific Leasing, Inc., was located on the farmland. The equipment lease was...

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