Tabor State Bank v. Jacobs

On October 18, 1921, defendants William and Mary Jacobs gave a- mortgage for $5,000 to Mary F. Cooley, due *637one year after date, on a tract of land in Bon Homme county, ¡bordering on the Missouri river, -and -described as containing 1,280 acres, more or less. On November 30, 1921, this mortgage and the note secured thereby were assigned to Tabor State Bank. The mortgage -contained a recital that it was subject to- one mortgage of $15,000 and two others to Tabor State Bank, one of $10,000 and one of $5,000, and also contained a clause that, in event of foreclosure, the mortgagors “will…