trustee of a trust, Fund F, which is presumably administered primarily in Chicago. As trustee the bank owns and manages Colonia Verde Shopping Center in Pima County, Arizona, and has refused to lease space in the center to plaintiffs. Further, the fund has purchased three additional parcels of improved real estate in Arizona and has on *90 occasion been a plaintiff in the courts of this state.
The only case on waiver by the Ninth Circuit Court of Appeals is Bechtel v. Liberty Nat. Bank, supra. Bechtel and his partners bought farm land in Arizona from a New Mexico National Bank. The bank had acquired the land by a "deed in lieu of foreclosure" executed by the former owner. Bechtel and partners still owed $220,000 on the land whenthey were forced to stop farming because of water shortages, crop failures and a lack of cash. Bechtel then took over the farm's assets and liabilities and leased it to one Bookwalter for three years at $35,000 per year. Bechtel obtained a $45,000 personal loan from the bank secured by the lease. Bookwalter breached the lease and later settled for $20,000 which Bechtel turned over to the bank. When Bechtel failed to meet farm payments, the bank instituted forfeiture proceedings in Cochise County, Arizona, had a receiver appointed, and secured judgment against Bechtel for the personal note. Before completion of forfeiture, Bechtel sued the bank in Maricopa County, Arizona, for fraudulent misrepresentation regarding the water available on the land. The bank removed to federal court and moved under