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FEDERAL LAND BANK OF OMAHA v. JOHNSON

No. 16094, 16116.

446 N.W.2d 446 (1989)

FEDERAL LAND BANK OF OMAHA a corporation, Plaintiff and Appellee, v. Eldon W. JOHNSON and Lavonne Johnson, husband and wife, Defendants and Appellants, and The United States of America, acting through the Farmers Home Administration, Defendant.

Supreme Court of South Dakota.

Decided October 4, 1989.

Attorney(s) appearing for the Case

Carl J. Koch, Mitchell, for plaintiff and appellee.

John W. Keller of Keller & Keller, Huron, for defendants and appellants.

KERN, Circuit Judge.

Eldon W. Johnson and Lavonne Johnson (Johnsons) appeal from a summary judgment granted in favor of the Federal Land Bank of Omaha (FLBO). We affirm.

In January 1983 Johnsons borrowed money from FLBO. The loan was evidenced by a duly executed promissory note and secured by a mortgage. Principal and interest payments were to be made on the first day of January of each year. On January 1, 1986, Johnsons became delinquent in making the payment...

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