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REPUBLIC NAT. LIFE INS. CO. v. MARQUETTE BANK

No. 46423.

251 N.W.2d 120 (1977)

REPUBLIC NATIONAL LIFE INSURANCE COMPANY, Respondent, v. MARQUETTE BANK AND TRUST COMPANY OF ROCHESTER, Appellant.

Supreme Court of Minnesota.

February 18, 1977.

Attorney(s) appearing for the Case

Levitt, Palmer, Bowen, Bearmon & Rotman, Robert M. Bowen and J. Patrick McDavitt, Minneapolis, Michaels, Bishop, Seeger & Rosenblad and David T. Bishop, Rochester, for appellant.

Dorsey, Windhorst, Hannaford, Whitney & Halladay and Craig A. Beck, Rochester, for respondent.

Considered and decided by the court en banc.

PETERSON, Justice.

In a suit for declaratory judgment, the district court held that plaintiff's mortgage on certain real property was prior to defendant's lease and that in the event of foreclosure on the mortgage, the property would not be subject to the lease. The court based its holding on the grounds that plaintiff was a subsequent purchaser in good faith under the recording statute, Minn.St. 507.34,1 and that the lease contained an...

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