Brand v. Smith

William W. Smith and wife gave a note, and a mortgage on land to secure it, for $3,000, to Welcome P. Brand, July 2, 1890. Five hundred dollars was payable April 1, 1891, and the same amount each year thereafter until the entire principal should be paid, with interest at 7 per cent., payable annually. The mortgage contained the provision that should any default be made in the payment of the interest, and continue for 90 days, the whole sum of principal and interest should become due, at the option of the mortgagee, his representatives or assigns. The note and mortgage were assigned to Bruce…