Light v. Federal Land Bank of St. Louis

On August 11, 1927, appellant purchased the northeast quarter of the northwest quarter o.f section 26, township 12 north, range 3 east, in Poinsett County, Arkansas, from F. B. Pipkin, subject to a mortgage Pipkin executed to appellee thereon, November 1, 1921, to secure the sum of $100, evidenced by a note bearing interest at the rate of 6 per cent, per annum, due and payable in equal semi-annual installments as follows : Fourteen dollars due and payable on the 1st day of May and November of each year from May 1,1922, to May 1, 1954, inclusive, and one installment of $11.69, the last to…