First Nat. Bank of Dothan v. Federal Land Bank

For a full understanding of this case, we deem it proper to state some of the salient facts as agreed upon by the parties.

W. D. Lassiter, the defendant in the court below, executed to the plaintiff a mortgage to secure an indebtedness of $10,500, payable ■in installments over a period of years. The ■lands are situated in Geneva county, Ala. This mortgage was recorded in the probate office of that county on the 26th day of February, 1926. The installment falling due on November 15,-1930, was not paid when due, and remained unpaid until June 26,1931, and on that date the mortgagee foreclosed…