Collins v. Nagel

Plaintiff seeks to foreclose a mortgage bearing date January 28, 1919, and due March 1, 1929,-by virtue of an accelerating maturity clause that “a failure to pay any of said principal or interest when due shall cause the whole amount to become due and payable, and this mortgage may be immediately foreclosed therefor.” The indebtedness secured by the mortgage is in the sum of $23,000. The interest rate is 5 per cent per annum, payable March 1, 1919, and annually thereafter. Plain tiff’s petition was filed July 17-, 1922, and it is alleged therein that:

“The interest due on said note has not…