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FEDERAL LAND BANK OF OMAHA v. VICTOR

No. 86-295.

440 N.W.2d 667 (1989)

232 Neb. 351

The FEDERAL LAND BANK OF OMAHA, a Corporation, Appellee, v. Rolland L. VICTOR and Marjorie M. Victor, Husband and Wife, Appellants, State National Bank and Trust Company et al., Appellees.

Supreme Court of Nebraska.

June 2, 1989.

Attorney(s) appearing for the Case

William J. Rieb, for appellants.

Dennis W. Collins, of Jewell, Gatz, Collins & Dreier, Norfolk, for appellee Federal Land Bank.

HASTINGS, C.J., SHANAHAN, and FAHRNBRUCH, JJ., and RONIN, District Judge, Retired.

SHANAHAN, Justice.

In its action in the district court for Wayne County, The Federal Land Bank of Omaha (FLB) sought foreclosure of a mortgage signed by Rolland L. and Marjorie M. Victor and requested the appointment of a receiver. After a hearing on the receivership issue, the district court found that the mortgaged real estate was "probably insufficient to discharge the indebtedness owed to [FLB] as set forth in [FLB's] petition" and that since Victors were in default...

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