Warner v. Webber Apartments, Inc.

HOFFMAN, Judge.

On June 80, 1966 defendants-appellants Edward and Elizabeth Warner purchased an apartment building located on West Fifth Avenue in Gary, Indiana from plaintiff-appellee Webber Apartments, Inc. To secure payment of the purchase price War-ners executed a purchase money mortgage to Webber for $140,000. On December 6, 1976 plaintiff's attorney notified Warners that more than 60 days had elapsed since their last payment. Pursuant to the terms of the mortgage plaintiff declared the entire unpaid balance due, together with interest and attorney fees. Rather than foreclosing on the…