HAWKINS, Justice.
1. Where, as here, a deed to secure debt contained what is commonly referred to as an "open end" or "dragnet" clause that "This deed shall further be security for any other debt, demand or claim of the Association [the grantee], against the first party [the grantor] whether now existing or hereafter incurred," a transferee or assignee of such security deed would not be authorized to tack on an indebtedness which was owing by a third person or corporation...
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