Tucker v. Nabo Construction Corp.

Complainant holds six mortgages for $9,000 each, dated October 10th, 1928, payable in three years. The mortgages contain the usual clause that if taxes or other municipal liens fall into arrears for a specified period, the principal sum shall become due at the option of the mortgagee. This contingency has happened and the mortgagee has elected to call the mortgages. The mortgagor, the defendant Nabo Construction Corporation, about a week before the bill was filed, conveyed the premises described in four of the mortgages to the defendant Mrs. Wanda Walters, in consideration of an antecedent…