Gus' Bath, Inc. v. Lightbown

This appeal is from a final decree foreclosing a third mortgage on certain property in Palm Beach in the principal sum of $35,000.00 securing a note of the same amount both dated October 24, 1924, payable five years from date with interest at the rate of ten per cent payable semiannually. The mortgage provided for acceleration of the payments of the principal and all interest at option of mortgagee in the event the mortgagor defaulted for a period of thirty days in the payment of any semiannual interest payment. The bill of foreclosure was filed February 21, 1928, and the only breach relied…