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WILSON CLOSE, LTD. v. CRANE

No. 91-1992.

499 N.W.2d 732 (1993)

WILSON CLOSE, LTD., An Iowa Corporation, Appellant, v. Michael J. CRANE, Appellee.

Court of Appeals of Iowa.

March 30, 1993.

Attorney(s) appearing for the Case

Dell A. Richard of Bray & Richard, Iowa City, for appellant.

William L. Meardon and Charles A. Meardon of Meardon, Sueppel, Downer & Hayes, Iowa City, for appellee.

Considered by OXBERGER, C.J., and DONIELSON and SCHLEGEL, JJ.

OXBERGER, Chief Judge.

On February 15, 1984, Wilson Close, Ltd., (Wilson) purchased by real estate contract property at 521 South Gilbert Street in Iowa City from Michael Crane. Under the contract Wilson had the responsibility to pay all taxes and to maintain insurance on the property. Wilson also had the responsibility to keep the premises in good and reasonable repair. The contract required a final balloon payment on January 15, 1989.

Crane had difficulty...

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