Petroff v. First National Bank

On June 22, 1934, plaintiff executed and delivered her bond to the defendant’s testator to secure the payment of the sum of $2,200 and interest at five per cent. As collateral security for the payment of the said sum plaintiff simultaneously executed and delivered to the above testator a mortgage on certain property located in the town and county of Otsego. Under the provisions of the bond and mortgage plaintiff was required to insure the property against loss by fire. It was also required that such policies of insurance should cover the mortgagee as her interest might appear.

Pursuant to the…