Potwin State Bank v. Ward

The opinion of the court was delivered by

Schroeder, J.:

This is an action brought by the appellee in the lower court to foreclose a mortgage reciting a consideration of “One Dollar ($1.00) and the further covenants, agreements and loans and advances hereinafter specified” with a specific recital that it was “intended as a mortgage to secure the payment of any sum or sums of money which may be loaned or advanced by the mortgagee, its successors or assigns, to the mortgagor at date hereof or from time to time, as the parties hereto may now or hereafter agree, with interest” — commonly called a…