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FEDERAL LAND BANK OF ST. PAUL v. BOSCH

Civ. No. 870342.

432 N.W.2d 855 (1988)

FEDERAL LAND BANK OF ST. PAUL, a body corporate, Plaintiff and Appellee, v. Peter F. BOSCH, Defendant and Appellant, and Magdalina Bosch, a/k/a Magdalena Bosch, a/k/a Magdaline Bosch, Defendant.

Supreme Court of North Dakota.

December 6, 1988.

Attorney(s) appearing for the Case

Tschider & Smith, 418 E. Rosser, Bismarck, for plaintiff and appellee; argued by Sean O. Smith.

Kelsch, Kelsch, Ruff & Austin, Mandan, for defendant and appellant; argued by William C. Kelsch.

LEVINE, Justice.

Peter F. Bosch appeals from a district court judgment granting the Federal Land Bank of St. Paul (the Bank) a foreclosure of its mortgage on Bosch's farmland. We reverse.

On February 5, 1982, Bosch borrowed $110,000 from the Bank, and as security for that loan gave the Bank a mortgage on his farmland and buildings. Bosch failed to pay the February 1986 installment on the loan and also failed to pay the 1985 and 1986 real estate taxes on the...

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