Moore v. Neece

Ames, 0.

In January, 1903, defendants Robert F. and Margaret Neece, for the purpose of securing payment of part of the purchase price of a tract of land conveyed to the latter, executed and delivered to the vendor, the defendant Allison, their negotiable promissory note, payable four years after date, Avith interest, at the rate of 7 per cent, per annum payable annually, and also executed and delivered a mortgage upon the land conditioned for the payment of the note, and containing a coArenant to the effect that upon default in payment of any instalment of interest the holder of the note might…