Liberty Savings & Loan Ass'n v. Jones

The opinion of the court was delivered by

Wedell, J.:

This was a foreclosure suit. Plaintiff prevailed and defendants appeal.

Appellants, in June, 1934, executed and delivered to appellee a non-negotiable note in the sum of $12,000. The note was secured by two separate mortgages, one a real-estate mortgage and the other a chattel mortgage covering certain bakery equipment located in the *423building of the mortgaged premises. Appellants defaulted in payments on the note, insurance premiums, and taxes on the real estate for the years 1932 and 1933. Appellee, after much forbearance, finally commenced…