Jerry Zlevor v. Margaret Tice

On the 29th day of December, 1926, William Giese and Emilia Giese executed their joint will providing ""After the payment of such funeral expenses and debts, I give, devise and bequeath unto the survivor of the makers hereof all of my property, real and personal, having in mind our children Marie Kughn, William Giese, Emil Giese, Margaret Tice and the children of our deceased son Carl Giese, the survivor to have the use of said property for his or her support during her lifetime, and after the death of the last of us, the property remaining to be divided equally between my said four children and one equal share to be given the children of my deceased son Carl Giese. Lastly, I make, constitute and appoint Jerry Zlevor of Minot, North Dakota to be executor."" On the 10th day of June, 1931 William Giese died and the said Jerry Zlevor qualified as executor on the 10th day of July, 1931 and on the said 10th day of July, 1931 he filed an inventory of the property belonging to said estate, which amounted to $15,876.04. On the 19th day of August, 1931 the executor petitioned the county court alleging that he had in his possession cash belonging to said estate not invested, not necessary to pay the claims against the said estate and that there were certain moneys on deposit drawing only 2% interest which could be invested at a higher rate of interest and praying for an order permitting the investment of such funds. The court ordered a hearing on the 26th day of August, 1931 and ordered notice to be published once in the Dakota State Journal, at Minot, North Dakota. Notice was duly published as ordered and as shown by the affidavit of publication. Thereafter the court made the following order: ""Ordered that the petitioner, Jerry Zlevor, as executor of the estate of William Giese, deceased, be and he is hereby ordered and authorized to invest such funds in only . . . mortgages on farm properties in the State of North Dakota bearing interest at not less than 6% and maturing in not to exceed three years from date hereof and make due report thereof to this court."" Thereafter the county court made an order stating in substance that the executor having applied to this court for authority to invest certain funds in said estate in a certain real estate mortgage, for the sum of $5,000.00 executed and delivered by Elmer P. Williams to John J. Coyle, dated November 5, 1931, due November 5, 1932 on the southwest quarter, the south half of the northwest quarter of section 8 and the east half of the southeast quarter of section 7, township 152, range 82 and which mortgage is a first mortgage lien thereon. It is ordered that said executor be and he is hereby authorized to loan, upon the assignment of said note and mortgage above described, the sum of $2,000.00 accepting such assigned note and mortgage, drawing interest at 7% as collateral for such loan. On the 19th of February, 1932 the executor filed a first report and accounting showing property valued at $14,590.04 and expenditures, including money paid to Emilia Giese, of $1,611.93 and the collection of the Borene note and mortgage of $4,086.66 and the reinvestment with other funds in the total sum of $4,500.00 in first real estate mortgages with the approval of the court and drawing interest at 6%.