Fay v. Picariello

This is an action to foreclose a mortgage made by defendant on the 10th day of September, 1918, for the sum of $3,750. It provides that the principal shall be paid by installments of $250 each, the first payment to be made April 1, 1919, the remaining payments semi-annually thereafter. The mortgage further provides “ that in the event of any default of payment of the installments, the entire balance of the principal sum remaining due, shall immediately become due and payable.” On December 1, 1918, plaintiff notified defendant by letter that the first payment of interest, amounting to $63,…