First National Bank Of Omaha v. Omaha National Bank

214 N.W.2d 483 (1974)

Purchase the Printed Copy at bsmsphd.com

Nature of the Case

To access this section all you need to do is click here and register.

Facts

The lease term between P and D was 50 years, beginning November 1, 1951. The lease called for a monthly rental of $833.34 and also required D to pay taxes and insurance and to keep the building in repair. There was no acceleration clause in the lease. On January 30, 1973, the District Court granted a declaratory judgment on behalf of P against D declaring D to be liable, as lessee, to perform all the covenants, terms, and conditions of the lease. The judgment included amounts that had accrued under the lease up to the date of the hearing. The parties filed later applications for further relief with respect to rental installments, insurance premiums, and taxes which had accrued since the original declaratory judgment. On April 10, 1973, the District Court entered judgments in the successive actions for insurance, taxes, and rental installments then matured. The judgment ordered that the unmatured installments of rent, taxes, and insurance were to be paid as they fell due and that the original declaratory judgment was to be complied with. It was provided that the court would retain jurisdiction; and that the judgment 'shall mature and become effective as to each unmatured installment of rent, taxes, and insurance on the day after said installment or payments are due and execution may then issue at the instance of the Plaintiff to satisfy the same.' D appealed.