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IN RE LENZ

Bankruptcy No. 87-80005.

74 B.R. 413 (1987)

In re Charles Edward LENZ and Mary Jane Lenz, Debtors. Charles Edward LENZ and Mary Jane Lenz, Petitioners-Debtors, v. The FEDERAL LAND BANK OF ST. LOUIS, Respondent-Creditor.

United States Bankruptcy Court, C.D. Illinois.

June 2, 1987.

Attorney(s) appearing for the Case

Barry M. Barash, Barash, Stoerzbach & Henson, Galesburg, Ill., for debtors.

Douglas R. Lindstrom, West, Neagle & Williamson, Galesburg, Ill., for The Federal Land Bank of St. Louis.

OPINION AND ORDER

WILLIAM V. ALTENBERGER, Bankruptcy Judge.

The debtors are farmers who filed a Chapter 12 proceeding. The matter came before the Court on the hearing to confirm their plan. The Federal Land Bank of St. Louis (LAND BANK), a secured creditor holding a first mortgage on their farm, filed objections to the plan. The facts are not in dispute. The debtors' farm consists of 222.2 acres and was valued by their appraiser at $117,766.00. The principal...

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