Land Title Bank & Trust Co. v. Winkelman

Smith, P. J.,

This is a rule to open a judgment entered by confession by plaintiff on December 26,1935, on a bond given by defendants dated April 1,1925, for $240,000, conditioned for the payment of $120,000 with interest, which bond was secured by a mortgage of even date between the same parties on a ground rent issuing out of premises 938 Market Street, Philadelphia. The yearly ground rent was in the sum of $11,700 and provided for the payment of the ground rent principal of $195,000 on April 1,1930, which was subsequently extended to April 1, 1931. The mortgage was recorded in Mortgage Book…