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METRO. LIFE INS. CO. v. KISSINGER FARMS

No. S-90-521.

508 N.W.2d 568 (1993)

244 Neb. 620

METROPOLITAN LIFE INSURANCE COMPANY, A New York Corporation, Appellee, v. KISSINGER FARMS, INC., a Nebraska Corporation, et al., Appellees, and DeWitt Farms, Inc., A Nebraska Corporation, Appellant.

Supreme Court of Nebraska.

December 3, 1993.

Attorney(s) appearing for the Case

Stephen H. Nelsen and Richard P. Garden, Jr., of Cline, Williams, Wright, Johnson & Oldfather, Lincoln, for appellant.

Arend R. Baack, of Luebs, Beltzer, Leininger, Smith & Busick, Grand Island, for appellee Metropolitan Life Ins. Co.

BOSLAUGH, WHITE, CAPORALE, FAHRNBRUCH, and LANPHIER, JJ., and RONIN, District Judge, Retired.

CAPORALE, Justice.

I. STATEMENT OF CASE

In order to secure a promissory note drawn by the defendants-appellees Kissinger Farms, Inc., Kissinger Feed Lots, Inc., and Ralph Kissinger, Jr., the two corporations executed a mortgage in favor of the plaintiff-appellee, Metropolitan Life Insurance Company, thereby encumbering the separate land owned by each of the aforenamed corporations. Following the borrowers' default on the underlying loan, Metropolitan instituted...

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